I am back from Calistoga now. I did check in on the market at around 11am and found that nothing interesting was happening. The late day sell-off did put the market in an interesting position. Can it be just a fake slightly below the highly watched support level, so as to scare all the bulls (during this late day sell-off, when people were tripping over each other to exit their longs right at their February low mental stop)?
Oil+PMs did outperform XLF today, and so my portfolio was up today. If SLV has another up day tomorrow, I'll make a lateral move from my remaining SLV into CEF, as a safer alternative.
Looks like UNG has boarded the "runaway train" that cannot be stopped (2nd_ave: that movie has finally appeared on Netflix and I recently watched it). If that's the case, then so be it. My last sell limit order is at $8 for 800 shares of HNU.TO I picked up at $6. After that, I'll just enjoy having some real cash that can be used to pick up some bargains after S&P drops below 1000, instead of having it tied up in NGas related stuff.
Mark: only now did I finally look at the 1-year chart for SGG and it looks enticing. I am tempted to place a buy stop limit order at $41/41.50 on it, with a mental stop at $38. What has attracted you to SGG?
David- It's strictly a seasonal trade for me. Also, it seems to track very well to the underlying with no roll over issues. I also wanted some money in play that was more or less based on supply/demand/weather, than WTF was happening in Hungry :). All of the action happens AH when the contract opens, and that's usually it for the day. So far so good.
The anxiety we had last night seems to have dissipated.
During the years my youngest would sleep between my wife and me, he loved to climb in ahead of me, plop his head down on 'my' pillow, pull the covers up to his neck, and wait for me to show up. I would always ask if he was 'Nice and comfy?' He would smile and nod. 'Warm and toasty?' More smiles 'Yeah.' Then I would tickle him until he rolled off onto his own pillow.
Nice story, my impression was this market is restless and in turmoil. Maybe I should rethink that one.
Anyway, a good mechanism for shorting China is through commodities, I'm sure China doesn't mind... might give 'em a chance to swoop in on some fire-sale bargains again.
Mark, we stayed at http://www.greatspa.com/ and it was great as usual. The kids had a blast alternating between 3 pools on the property (one adult swimming pool, one shallow wading pool, and one jacuzzi). After all children were sent off to bed at 9pm, the adults had a blast as well (3 other families joined us yesterday). The best time in the pool is between 4 pm and 8pm, where it is all in the shadow of nearby trees, which is not to be missed. In the morning, unfortunately, the the pools are under the sun and it is hard to stay there for more than a couple of hours (without getting burned). They kicked everyone out of the pool at 12noon today (they said they had to do their daily cleaning). The natural thing to do after that is to get some take out lunch and then go to see the Old Faithful Geyser, which is 5 minutes away and has a nice territory where children can play and picnic tables in the shade.
If you get a suite with 2 rooms inside it, make sure to ask for a suite that has a solid door separating the rooms (most of such suites do not have a door).
I have to warn you, though, that you'll find mostly Russians at that hotel, as Russians apparently like this awesome deal a lot. :)
Mark, what are the seasons for sugar? Can you please give a short description of its fundamentals now or point me to a place where I can read more about it? Where can I watch sugar futures for different months? Thanks...
SGG- I think the Feb. spike down was early birds. Frankly, I got lucky. Got a 5% pop in 2 days and took profits. Re-entered @ 38.22. I'll see if I can find the article I liked about seasonal trades.
2nd- Interesting comment about your son. We are gong through the same thing here. Neither Kendra or Hailey really had any interest in sleeping with us. Frankly, both slept all night from about age 6 months in their own room. Harlan, on the other hand, is so full of energy, he only seems to calm down when he's in our bed. Cool with us..but for someone all of 2 feet tall he takes up a lot of space :)
Comfy market? I see this market as more like. I'm at the front row of a Lynyrd Skynyrd concert and I am hammered drunk! The band breaks into Free Bird and the Rednecks push forward squeezing me against the stage. RB
I read some articles on Bloomberg about sugar and here is what I found:
****
Bigger cane crops in Brazil and India, the world’s largest growers, will create a surplus after two years of production deficits. Global output may exceed demand by 2.5 million metric tons in the year starting Oct. 1, Rabobank said in a report.
“Ideas of a strong Brazil crop this year continue to give fundamental pressure,” Jack Scoville, a vice president at Price Group Inc., said in a report. “India keeps finding more sugar and is exporting to its neighbors again.”
****
So I see that the state of the sugar market now is similar to the state of the NG market in April: a totally bleak fundamental picture of the future (natural gas supplies were rising and production was not dropping off at all) coupled with basing of the price itself. Supposedly, this is the time to enter. I read a few web sites about sugar and all of them said the same thing -- now is the time to enter. So naturally, SGG cannot stage a sustained rally yet. How did UNG handle this situation? It had to do 4 head fakes to shake off all the passengers who boarded the Northbound in April, until it was "light" enough to take off. So, while I am sure that SGG will rally above the present levels in a not so distant future, it will either have to perform a few more headfakes with support at $38 or it will have to break that support and drop below $37. In any case, only a small position in SSG is justified about $40. So I am placing a buy stop limit order for 100 shares at $41.50/$42.
I stared at the MON chart a little more and noticed that it recently made a run up to $50.51. So I have just placed a second buy stop limit order on it, for another 50 shares, at $50.50/51.
Solar is a dog. David didn't you talk about having buy orders in for ESLR at 1 buck and a buck-ten? Now the stock's at 72 cents. What happened with that?
This action puts them at new closing lows for the year.
Same as yesterday: Use this as an opportunity to trail stops lower and scale out (as offered) of existing positions. In light of the magnitude of the slide, you might want to be a little less aggressive on establishing new positions.
I noticed a lot more Chinese people in New York City recently . I asked my friend Ling how did they all get here ? She told me, " Sharkie, BP accidentally drilled a hole to China...
CNBC anchor Maria Bartiromo will be guest speaker at the Westport Public Library on Tuesday.
Bartiromo, sometimes called “money honey” in the tabloids, will address the McManus Room audience at 7:30 p.m. She will speak about her new book,”The Ten Laws of Enduring Success,” in which she explores what constitutes the bedrock to enduring success.
At CNBC, Bartimoro is co-host of the “Closing Bell” as well as host and managing editor for the nationally syndicated “Wall Street Journal Report.” She was among the first reporters to broadcast live from the floor of the New York Stock Exchange.
She is also a columnist and writer for several business and general interest magazines and the author of the book “Use the News: How to Separate the Noise from the Investment Nuggets and Make Money in Any Economy.”
shark- Could you attend the speech on our behalf and ask Maria to look into the tunnel that BP drilled through to China- I've heard that story all my life, and I'm impressed someone finally accomplished it.
Yes....If anyone wants to meet me down there we can ask a few pointed questions regarding reports that she was nibbling on Jamie Dimon (on the Citi jet no less) as though he were a kielbasa!
Oh and Van Der Sloot? Reports are that in ancient Dutch those words mean "kill the slut", but that's unconfirmed.
Actually the kid held up pretty well, insisting on his innocence to the cops for several days until ultimately, fifty thousand Taser-watts to the balls helped the truth to come out!
Actually I object to torture but in his case.......
Shark, the buy limit orders for ESLR at $1 and $1.10 were executed. Each order was for 1000 shares, and so they were just minor expansions of my long term ESLR position at a really good price.
At the current price, ESLR is a call option without expiration. I don't think the company will go bankrupt in the next 5 years. Rather, their expansion plan in China is proceeding so far right on schedule. Most of their current customer are in Europe -- hence the stock is getting trashed. However, once they ramp up their production in China at the end of 2010, they *WILL* have decent profit margins (since their average production cost will be much lower because of higher production volumes) and they *WILL* have the option of selling their stuff to other markets besides Europe. So ESLR is a beat up stock in a beat up industry, which nevertheless will survive. Such stocks usually make great long term investments, which is what I am doing with ESLR.
Good man. Now don't sell it unless it falls below support and stays there...You will know based on palladium prices, which you need to watch what is likely to happen to PAL.....3 is a good definable support level now for PAL.....if it breaks it for real (stays below 2.80, say) you need to get out. Other than that, great job. I think this one's a keeper now.
MON hit my buy stop limit at $50 for 50 shares. The buy stop limit at $50.50 for 50 more shares is still open. The recent 8% dump in MON was bought pretty quickly, so I think MON has finished its slide.
SGG did a weird gap up open and hit my buy stop limit at $41.79 for 100 shares.
Finally, I sold my remaining 750 shares of SLV at $18.04 and instead purchased 750 shares of CEF as a safer alternative (both in terms of being less exposed to the more volatile silver and being less exposed to the risk of JPM going under).
PAL - No problem if it doesn't jump soon. It might be simpler to add on weakness, I had been considering new positions in SCCO/TCK/TC as well.
Something tells me if Europe (or anyone aside from China, for that matter) wants raw materials in the future, they'll have to pay out the nose for them. What could possibly go wrong with this strategy aside from prices taking off without having a full BOM?
JPM going under??? Seriously doubt it unless that's what GS wants. These guys have more tricks up their sleeves than a used car salesman could possibly invent!!! The first and most important being the ability to front-run everything we do...
The rich just keep gettin' richer, gotta poop on the neighbors sidewalk along with these dogs...
I`m looking over my dead dog, Rover, Who I hit with the power mower. One leg is missing, the other is gone, A third leg is scattered all over the lawn. No need explaining the one remaining Is spinning on the car port floor... I`m looking over my dead dog, Rover, Who I over-looked before!
I`m looking over my dead dog, Rover, Who I hit with the power mower. My dog`s not eating, he no longer barks; He hit the propeller and turned into sparks. No need explaining, there`s no dog remaining; He`s a part of the lawn you see... I`m looking over my dead dog, Rover, Who I sent to Eternity!
Chicken - yes they do. I'm strictly trading this as my old theory of +/-3% on the 200 DMA would suggest to not buy. But if we're entering a trading range, as I suspect we are, then this method doesn't work nearly as well as when it's a big rolling market like in the 80's to 2010.
Disappointing. That's the bottom line.
ReplyDeleteI am back from Calistoga now. I did check in on the market at around 11am and found that nothing interesting was happening. The late day sell-off did put the market in an interesting position. Can it be just a fake slightly below the highly watched support level, so as to scare all the bulls (during this late day sell-off, when people were tripping over each other to exit their longs right at their February low mental stop)?
ReplyDeleteOil+PMs did outperform XLF today, and so my portfolio was up today. If SLV has another up day tomorrow, I'll make a lateral move from my remaining SLV into CEF, as a safer alternative.
Looks like UNG has boarded the "runaway train" that cannot be stopped (2nd_ave: that movie has finally appeared on Netflix and I recently watched it). If that's the case, then so be it. My last sell limit order is at $8 for 800 shares of HNU.TO I picked up at $6. After that, I'll just enjoy having some real cash that can be used to pick up some bargains after S&P drops below 1000, instead of having it tied up in NGas related stuff.
ReplyDeleteMark: only now did I finally look at the 1-year chart for SGG and it looks enticing. I am tempted to place a buy stop limit order at $41/41.50 on it, with a mental stop at $38. What has attracted you to SGG?
ReplyDeleteDavid- Where did you stay and how did you like it? It's a good trip for Patricia and I also.
ReplyDeleteDavid- It's strictly a seasonal trade for me. Also, it seems to track very well to the underlying with no roll over issues. I also wanted some money in play that was more or less based on supply/demand/weather, than WTF was happening in Hungry :). All of the action happens AH when the contract opens, and that's usually it for the day. So far so good.
ReplyDeleteI've been thinking about dipping my toe in ZSL at some point here if this sell-off keeps up the pace.
ReplyDeleteHSY - Damn nice chart there...
At least there's no guessing which way we're likely headed for the foreseeable future, wake me when the selling's done.
ReplyDeleteThe anxiety we had last night seems to have dissipated.
ReplyDeleteDuring the years my youngest would sleep between my wife and me, he loved to climb in ahead of me, plop his head down on 'my' pillow, pull the covers up to his neck, and wait for me to show up. I would always ask if he was 'Nice and comfy?' He would smile and nod. 'Warm and toasty?' More smiles 'Yeah.' Then I would tickle him until he rolled off onto his own pillow.
That's what this 'comfy' market needs.
Nice story, my impression was this market is restless and in turmoil. Maybe I should rethink that one.
ReplyDeleteAnyway, a good mechanism for shorting China is through commodities, I'm sure China doesn't mind... might give 'em a chance to swoop in on some fire-sale bargains again.
Maybe all this green in Asia tonight will translate into a red open in Europe/the US.
ReplyDeleteSee y'all tomorrow.
Mark, we stayed at http://www.greatspa.com/ and it was great as usual. The kids had a blast alternating between 3 pools on the property (one adult swimming pool, one shallow wading pool, and one jacuzzi). After all children were sent off to bed at 9pm, the adults had a blast as well (3 other families joined us yesterday). The best time in the pool is between 4 pm and 8pm, where it is all in the shadow of nearby trees, which is not to be missed. In the morning, unfortunately, the the pools are under the sun and it is hard to stay there for more than a couple of hours (without getting burned). They kicked everyone out of the pool at 12noon today (they said they had to do their daily cleaning). The natural thing to do after that is to get some take out lunch and then go to see the Old Faithful Geyser, which is 5 minutes away and has a nice territory where children can play and picnic tables in the shade.
ReplyDeleteIf you get a suite with 2 rooms inside it, make sure to ask for a suite that has a solid door separating the rooms (most of such suites do not have a door).
I have to warn you, though, that you'll find mostly Russians at that hotel, as Russians apparently like this awesome deal a lot. :)
Mark, what are the seasons for sugar? Can you please give a short description of its fundamentals now or point me to a place where I can read more about it? Where can I watch sugar futures for different months? Thanks...
ReplyDeleteMark, one more question about SGG: why do you think it crashed in February and was falling until a month ago?
ReplyDeleteDavid- A bunch of Russians drinking and carrying on having fun?? Your right, might not work for me :)
ReplyDeleteSGG- I think the Feb. spike down was early birds. Frankly, I got lucky. Got a 5% pop in 2 days and took profits. Re-entered @ 38.22. I'll see if I can find the article I liked about seasonal trades.
ReplyDelete2nd- Interesting comment about your son. We are gong through the same thing here. Neither Kendra or Hailey really had any interest in sleeping with us. Frankly, both slept all night from about age 6 months in their own room. Harlan, on the other hand, is so full of energy, he only seems to calm down when he's in our bed. Cool with us..but for someone all of 2 feet tall he takes up a lot of space :)
ReplyDeleteComfy market? I see this market as more like. I'm at the front row of a Lynyrd Skynyrd concert and I am hammered drunk! The band breaks into Free Bird and the Rednecks push forward squeezing me against the stage.
ReplyDeleteRB
Nice to see someone using his imagination, worth reading! ;)
ReplyDeleteI read some articles on Bloomberg about sugar and here is what I found:
ReplyDelete****
Bigger cane crops in Brazil and India, the world’s largest growers, will create a surplus after two years of production deficits. Global output may exceed demand by 2.5 million metric tons in the year starting Oct. 1, Rabobank said in a report.
“Ideas of a strong Brazil crop this year continue to give fundamental pressure,” Jack Scoville, a vice president at Price Group Inc., said in a report. “India keeps finding more sugar and is exporting to its neighbors again.”
****
So I see that the state of the sugar market now is similar to the state of the NG market in April: a totally bleak fundamental picture of the future (natural gas supplies were rising and production was not dropping off at all) coupled with basing of the price itself. Supposedly, this is the time to enter. I read a few web sites about sugar and all of them said the same thing -- now is the time to enter. So naturally, SGG cannot stage a sustained rally yet. How did UNG handle this situation? It had to do 4 head fakes to shake off all the passengers who boarded the Northbound in April, until it was "light" enough to take off. So, while I am sure that SGG will rally above the present levels in a not so distant future, it will either have to perform a few more headfakes with support at $38 or it will have to break that support and drop below $37. In any case, only a small position in SSG is justified about $40. So I am placing a buy stop limit order for 100 shares at $41.50/$42.
MON also looks ripe for a rally here. I am placing a small buy stop limit order for 50 shares at $50/50.5.
ReplyDeleteIf FSLR rises above $110 (or better yet $115) it would look like a long-term buy as well.
ReplyDeleteI stared at the MON chart a little more and noticed that it recently made a run up to $50.51. So I have just placed a second buy stop limit order on it, for another 50 shares, at $50.50/51.
ReplyDeleteEuropean markets are getting it done!
ReplyDeleteFTSE down -1.4% to just below 5000.
DAX down -1.3%.
CAC down -1.6%.
Solar is a dog. David didn't you talk about having buy orders in for ESLR at 1 buck and a buck-ten? Now the stock's at 72 cents. What happened with that?
ReplyDeleteAONE off @ 8.49. Close enough. I'll look to re-enter if given the chance.
ReplyDeleteLandry-
ReplyDeleteRandom Thoughts:
The indices continued sell off out of a pullback.
This action puts them at new closing lows for the year.
Same as yesterday: Use this as an opportunity to trail stops lower and scale out (as offered) of existing positions. In light of the magnitude of the slide, you might want to be a little less aggressive on establishing new positions.
Futures are firm pre-market.
I'm actually thinking of buying a St. Bernard and naming him Solar!
ReplyDeleteThe only drilling off the coast of New England should happen ON the boats!
BP= Obama thought it meant black president!
I noticed a lot more Chinese people in New York City recently . I asked my friend Ling how did they all get here ? She told me, " Sharkie, BP accidentally drilled a hole to China...
ReplyDeleteCNBC anchor Maria Bartiromo will be guest speaker at the Westport Public Library on Tuesday.
ReplyDeleteBartiromo, sometimes called “money honey” in the tabloids, will address the McManus Room audience at 7:30 p.m. She will speak about her new book,”The Ten Laws of Enduring Success,” in which she explores what constitutes the bedrock to enduring success.
At CNBC, Bartimoro is co-host of the “Closing Bell” as well as host and managing editor for the nationally syndicated “Wall Street Journal Report.” She was among the first reporters to broadcast live from the floor of the New York Stock Exchange.
She is also a columnist and writer for several business and general interest magazines and the author of the book “Use the News: How to Separate the Noise from the Investment Nuggets and Make Money in Any Economy.”
'Aint I the lucky one???
shark- Could you attend the speech on our behalf and ask Maria to look into the tunnel that BP drilled through to China- I've heard that story all my life, and I'm impressed someone finally accomplished it.
ReplyDeleteYes....If anyone wants to meet me down there we can ask a few pointed questions regarding reports that she was nibbling on Jamie Dimon (on the Citi jet no less) as though he were a kielbasa!
ReplyDeleteThat'll be fun!
Still long PAL
Or is it JP Morgan...yes that's it I think.
ReplyDeleteOh and Van Der Sloot? Reports are that in ancient Dutch those words mean "kill the slut", but that's unconfirmed.
Actually the kid held up pretty well, insisting on his innocence to the cops for several days until ultimately, fifty thousand Taser-watts to the balls helped the truth to come out!
Actually I object to torture but in his case.......
Watching RIG/DO on downgrades.
ReplyDeleteAnd APC.
ReplyDeleteInteresting to note the weakness in AMZN.
ReplyDeleteRIG @ 45.53.
ReplyDeleteOff @ 45.80.
ReplyDeleteAAPL broke what I consider an important level. 250.
ReplyDeleteRIG running to it's low of 1/09 @ 41.95??
ReplyDeleteRIMM is the only horse ridding higher today.
ReplyDeleteSo everyone finally down grades the big OS drillers. Today just might be the day this thing turns. Just saying...
ReplyDeleteRIG/BP getting beat up in the corner by the drinking fountain.
ReplyDeleteCash in hand, still long GMO. Waiting patiently for the fire sale...
ReplyDeleteHole to China - I remember trying that one. There were problems though, the scale of the project was too large, for one.
TCK is pretty beat up, problem here is I recall much lower prices.
ReplyDeleteHmm, there's one for the record book, how about an encore performance???
HSY - Remember not so long ago when analysts were downgrading it right and left?
ReplyDeletePALL out preforming PAL.
ReplyDeleteThe "support" I've been watching is 1040. Third test here.
Any of you guys want to get in our World Cup pool? 20 bucks.
ReplyDeleteFF- Wouldn't UNG be a text book Landry play here?
ReplyDeleteLater gators.
ReplyDeleteWonder when SSO and TNA price will converge?
ReplyDeleteWith 50DMA now approaching 200DMA, bounce prior to accelerated selling?
ReplyDeleteStill long PAL..
ReplyDeletetrend change in progress
Green close today.
Gold breaks out, silver yesterday was the tell, PAL will follow along.
I will make a lot of money on my PAL
Mark - I'm out for the pool...good luck with it. I'm worse at gambling than day trading :)
ReplyDeleteCome to think of it, don't metals typically bottom prior to the broad market?
ReplyDeleteHmm, I'm gonna wait and see before adding just in case...
Chicken buy 1000 PAL right here at 3.13 just for kicks...
ReplyDeleteLong term investment.
ReplyDelete2nd...buy 1000 shares for your kid.
Buy 1000 Shares PAL at 3.13 Limit Day All or None
ReplyDeleteFilled 1,000 at $3.13 - 06/08/10 12:59 PM
Shark, the buy limit orders for ESLR at $1 and $1.10 were executed. Each order was for 1000 shares, and so they were just minor expansions of my long term ESLR position at a really good price.
ReplyDeleteAt the current price, ESLR is a call option without expiration. I don't think the company will go bankrupt in the next 5 years. Rather, their expansion plan in China is proceeding so far right on schedule. Most of their current customer are in Europe -- hence the stock is getting trashed. However, once they ramp up their production in China at the end of 2010, they *WILL* have decent profit margins (since their average production cost will be much lower because of higher production volumes) and they *WILL* have the option of selling their stuff to other markets besides Europe. So ESLR is a beat up stock in a beat up industry, which nevertheless will survive. Such stocks usually make great long term investments, which is what I am doing with ESLR.
Chicken,
ReplyDeleteGood man. Now don't sell it unless it falls below support and stays there...You will know based on palladium prices, which you need to watch what is likely to happen to PAL.....3 is a good definable support level now for PAL.....if it breaks it for real (stays below 2.80, say) you need to get out. Other than that, great job. I think this one's a keeper now.
David,
ReplyDeleteI'm going to go adopt a dog named Solar. I won't be surprised if he can't hunt, can't fetch the paper, can't even get me my damn slippers.....
woof woof woof woof woof!
Just kidding, I hope Solar doesn't shit all over your carpet:)
Just kidding guy.....Just having fun...
WOOF!
Some activity for me today:
ReplyDeleteMON hit my buy stop limit at $50 for 50 shares. The buy stop limit at $50.50 for 50 more shares is still open. The recent 8% dump in MON was bought pretty quickly, so I think MON has finished its slide.
SGG did a weird gap up open and hit my buy stop limit at $41.79 for 100 shares.
Finally, I sold my remaining 750 shares of SLV at $18.04 and instead purchased 750 shares of CEF as a safer alternative (both in terms of being less exposed to the more volatile silver and being less exposed to the risk of JPM going under).
PAL - No problem if it doesn't jump soon. It might be simpler to add on weakness, I had been considering new positions in SCCO/TCK/TC as well.
ReplyDeleteSomething tells me if Europe (or anyone aside from China, for that matter) wants raw materials in the future, they'll have to pay out the nose for them. What could possibly go wrong with this strategy aside from prices taking off without having a full BOM?
JPM going under??? Seriously doubt it unless that's what GS wants. These guys have more tricks up their sleeves than a used car salesman could possibly invent!!! The first and most important being the ability to front-run everything we do...
ReplyDeleteThe rich just keep gettin' richer, gotta poop on the neighbors sidewalk along with these dogs...
CP: let me rephrase the GLD risk as follows: JPM defaulting on its obligation to back up SLV, if it ever becomes beneficial for them to do so.
ReplyDeleteOOPS, gold is falling!
ReplyDeleteI`m Looking Over My Dead Dog Rover
ReplyDeleteI`m looking over my dead dog, Rover,
Who I hit with the power mower.
One leg is missing, the other is gone,
A third leg is scattered all over the lawn.
No need explaining the one remaining
Is spinning on the car port floor...
I`m looking over my dead dog, Rover,
Who I over-looked before!
I`m looking over my dead dog, Rover,
Who I hit with the power mower.
My dog`s not eating, he no longer barks;
He hit the propeller and turned into sparks.
No need explaining, there`s no dog remaining;
He`s a part of the lawn you see...
I`m looking over my dead dog, Rover,
Who I sent to Eternity!
Well, obviously George Benson couldn't pull it off.
ReplyDeleteNice close but not completely convincing.
ReplyDeleteActually, a quick glance at the PAL chart left me with a puzzled encouraging sensation(if that's possible).
ReplyDeleteNBG/CCH up along with the eurozone STD gaining 2%... gold headed north again this evening would be a welcome sight.
Agree, probably can't trust that close any further than we can throw futures.
Well, I did it again...I admit it...I'm a glutton for punishment. I went long SPY at the close in my long only account.
ReplyDeleteTOF - Looks like you joined the crowd... Old habits die hard, don't they?
ReplyDeletenew post
ReplyDeleteChicken - yes they do. I'm strictly trading this as my old theory of +/-3% on the 200 DMA would suggest to not buy. But if we're entering a trading range, as I suspect we are, then this method doesn't work nearly as well as when it's a big rolling market like in the 80's to 2010.
ReplyDelete