Monday, October 18, 2010

10/19/10 The Power Of Love



Selling the news? Give me a break. The news is all good.

I'm no fan of eighties music, but the only News that matters right now is Huey Lewis- they aren't about to stop this bull with after-hours drops in AAPL and IBM. They're just slowing the train to dislodge pretenders.

Financials? To be honest, I'm glad to have exited with minimal damage- there are better plays right now. Glad to see tof having a little fun with TNA. I think he's right- shorts are busy lighting the fuse for tomorrow's blow-out.
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11 comments:

  1. 2nd_aveOctober 18, 2010 at 5:08 PM

    The Power Of Love newSubmitted by 2nd_ave (4786 comments) on Mon, 10/18/2010 - 19:59 #72013
    http://tinyurl.com/obt7eo

    Selling the news? Give me a break. The news is all good.

    I'm no fan of eighties music, but the only News that matters right now is Huey Lewis- they aren't about to stop this bull with after-hours drops in AAPL and IBM. They're just slowing the train to dislodge pretenders.

    Financials? To be honest, I'm glad to have exited with minimal damage- there are better plays right now.

    teamonfuego is probably right- shorts are busy lighting the fuse for tomorrow's blow-out.

    ReplyDelete
  2. 2nd_aveOctober 18, 2010 at 5:36 PM

    Re: The Power Of Love
    Submitted by Vadym Graifer (1526 comments) on Mon, 10/18/2010 - 20:26 #72014 (in reply to #72013)
    "Selling the news? Give me a break. The news is all good"

    Please don't take the following as indication of my opinion about tomorrow's market. It's a general comment, to make sure we speak of the same thing when discuss the pertinent matter.

    Expression "Selling the news" DOES refer to a situation when market drops on GOOD news. There is no contradiction between "selling the news" and "news is all good." Normally it's a strong sign of an uptrend ending, so I certainly see why bears feel encouraged by this selling after the reports. Not that I necessary share their view, mind you.

    reply Contact the author Bookmark this Ignore thread Ignore user
    Re: The Power Of Love newSubmitted by 2nd_ave (4787 comments) on Mon, 10/18/2010 - 20:35 #72015 (in reply to #72014)
    Vad- Yes, I understand exactly what 'sell the news' normally means. These are not 'normal' times, however. 'Selling the news' tonight is just as likely to have been the perfect set-up for a gap up on Tuesday. So my comment was meant to be taken tongue-in-cheek. I can see how it could be taken literally- thanks for allowing me to clarify.

    ReplyDelete
  3. vbOctober 18, 2010 at 5:55 PM

    congrats sharkie on GMO -cp hope you were in too!

    ReplyDelete
  4. 2nd_aveOctober 18, 2010 at 6:13 PM

    UNG/HNU.to-

    David. It's not working.

    ReplyDelete
  5. 2nd_aveOctober 18, 2010 at 6:14 PM

    You could have loaded up on AAPL/IBM after hours instead?

    ReplyDelete
  6. MarkWOctober 18, 2010 at 6:38 PM

    TOF- Had I been able, I would have taken a shot AH also. I know it does no good, but still kicking myself for not taking RAS @ 1.40. I did have an order in one day, but missed by a penny.

    How's this for crazy? I placed a bid for MMR before I left for the day @ 16.68. Unreal.

    ReplyDelete
  7. teamonfuegoOctober 18, 2010 at 7:12 PM

    Mark - If it makes you feel any better I bought RAS at $1.48 and sold it the next day at $1.54 because I didn't "trust" it. Can't complain too much because I moved it into BYD, but oh well. Speaking of which, I'm looking to get back into the casinos again.

    ReplyDelete
  8. vbOctober 18, 2010 at 7:15 PM

    consider this a global earthquake that will last 10 years

    it's all about currency

    just my 2 cents

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  9. DavidOctober 18, 2010 at 7:30 PM

    "UNG/HNU.to- David. It's not working."

    You are right, 2nd_ave -- it's not working. So far. But it should start working in the not-so-distant future. The analysts from GS have three scenarios for the average NG price in 2011: low, medium and high, which correspond to NG at $5, $6, and $7. The most bearish report so far was from the Deutsche Bank, where they projected an average price of $4.50 for 2011. This means that about half the time NG should be above $4.50, and what better time for it to be above $4.50 than sometime during the winter? The December futures (currently tracked by UNG and HNU.TO) are currently going for $3.86! So the time to exit UNG/HNU.TO for good is not now, but during the inevitable rally we'll have at some point during this winter, which should take NG significantly above the current levels.

    ReplyDelete
  10. ChickenpookieOctober 18, 2010 at 8:08 PM

    vb - Yes, of course I still have my position in GMO, I wouldn't want to miss the mine construction phase beginning next summer!

    ReplyDelete
  11. 2nd_aveOctober 19, 2010 at 6:01 AM

    new post

    ReplyDelete

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