Friday, July 16, 2010
7/16/10 From Russia With Love
Vad- I finally started driving the VG 350 convertible in earnest two weeks ago. Fully enclosed with AWD in inclement weather, roof retracts in twelve seconds ascending out of the fog bank. Parked safely indoors overnight.
The indexes have pretty much gone nowhere over the past nine sessions. Whereas trading small positions with (very) short time frames has netted an average of $300 a day. (That probably doesn't seem like much, but I'm only risking 5-10k on each trade, and each trade averages 5-10 minutes. Average number of trades? Probably 3-4/day.). In addition, parking in cash overnight/on weekends has allowed me to sleep with little concern about market direction/opening gaps. (I 'sold in May' this year.)
I admit to using only intuitive set-ups for now. Someday (probably when I retire from the day job, and the kids have all moved out), I'll start logging into the chat room for extended drives.
Appreciate the dozen or so 'opinionless trading' hints you've dropped my way over the years. With regard to the countless switchblade swipes by Rosa Klebb along the way, well, c'est la vie.
Giving Vad his due.
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Well, we probably worked off some of the 'overbought' condition today ;)
ReplyDeleteDamn, I've had two shots of Nadurra on an empty stomach, and I feel pretty good.
ReplyDeleteI hate to say it, but fading the ------ of Oz (a) has better than even odds of paying off, and (b) when it pays off, it pays off big.
ReplyDeleteWell, I'm happy for TK.
ReplyDeletehttp://slopeofhope.com/2010/07/prepare-thyselves.html#disqus_thread
What does he like to say- 'Par-TAY. Tim-MAY.'
Well deserved.
I would say I'm happy for jb as well, but I no longer have a clue how jb's positioned.
ReplyDeleteI have a soft spot for spies.
ReplyDeleteoh well, moving on
trying to make noodles from the mess
tahoe?
vb- As you pointed out earlier-
ReplyDeleteWait for the pot to boil at 9500.
Add pasta.
Boil un'covered' (if you're David) for 9 minutes.
Rinse with cold water.
Season with ultralongs.
ok and let's meet in tahoe at 9500
ReplyDeleteis that a deal???
Y/N
Interesting that the Sonora Pass has an elevation of 9628:
ReplyDeletehttp://ponderosascenery.homestead.com/files/ponderosascenery/sonorapass6.html
now i've had 4 shots, and dinner isn't ready yet...
ReplyDeleteCI- For now, it appears you sold (HNU.to) into fleeting exuberance. We'll know for sure next Monday/Tuesday.
ReplyDelete2nd: are you okay?
ReplyDeleteAnyways, I have been going through my charts and as much as I want to be an optimist, this market short-term (next week) does not look good for me the bullish one. I think I am going to take a week off to relax. Did I hear that somewhere?
Addendum: I see 2nd you posted re HNU.to. Suddenly I feel like being 100% cash over the weekend. Can you imagine if everyone went to even 10% cash over the weekend!
100% cash is highly underrated in the blogosphere, and I'm not sure why. Maybe b/c there really isn't much to 'say' other than 'I'm in cash' when the indexes decline.
ReplyDeleteWell, I can tell you the 'whole enchilada' sounds more like this:
(a) Down 2.5%!
(b) Damn, I've side stepped an '$x' loss!
(c) Remember the Fall of 2008, when it seemed like it sold off every freaking day?
(d) Man, I just saved myself next year's tuition bills.
(e) Down 3! Alright, next year's tuition and mortgage payments.
(f) Down 4!
(g) Alright, look. I feel sorry for the guys out in the boat, but man, am I glad it was my turn to stay behind and prep dinner.
Last time I agree to a Friday night meeting unless it involves food and booze. I see I'm already 4 shots behind.
ReplyDeleteDid any of you guys catch the whole Jobs press conference? I've only heard tidbits, but he sure came off as an ass.
ReplyDelete2nd_ave, you have pretty good writing skills, considering that even 4 shots of Nadurra on an empty stomach did not set you back noticeably. :)
ReplyDeleteI just placed a GTC order for XCO @ 14.35.
ReplyDeleteThis chart is a great indication of when housing is about to turn and when the economy is about to turn. It's the New Home Sales. As you can see we're now 5 years into the housing downturn and the most recent sales level is below any of the worst downturns over the past 50 years. The bubble we just came through was a big one, but then again the downturn is now the longest and deepest ever over the past 50 years. Annual demand for houses increases by about 1 to 1.5 million homes per year because of population growth.
ReplyDeleteI think anyone that buys a housing stock right now will do quite well over the next 5 to 10 years. I like SPF a lot because it has a solid balance sheet and looks like it has a great chance to survive and eventually thrive.
my investment portfolio is still approx 60% equities, 30% cash and 10% bonds.
ReplyDeletein my trading account i only have two positions: FAZ and REW.
gonna strap on the lights and roll out for a long ride before it hits 108 today...first long ride since my surgery so we'll see how it goes.
stay cool today boys!
Nice thing about Nadurra- no hangover.
ReplyDelete108, jb? I'd get up at 230 am also if I knew it would be that hot.
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ReplyDelete