My youngest son, when he doesn't get the answer he wants to hear (eg, 'No' instead of 'Yes'), will often respond by saying 'It's opposite day!' That's what I'm hoping for tomorrow.
To paraphrase Tatro, the time to brace for reversals is when bullish/bearish patterns fail. The same psychology that calls for buying when markets rally on bad news, or shorting when markets sell off on good news.
From a trading perspective, what we'd like to see Friday morning is either a rally on bad jobs data, or a sell-off on good data.
Whatever it turns out to be, I'm prepared to be unprepared.
ReplyDeleteCP -- I get where you are going with your integration problem! If s is a density function, then its integral would be S, and so the answer to A int(s ds) is "A BIG ASS" :))
ReplyDeleteOr if s is just a variable, then the answer is: "A half of square ass" :)
ReplyDelete2nd_ave, as for the market reaction tomorrow, its interpretation might not be that simple. The smart money might be worrying much more about bond yields now than about employment, and so if the jobs number is good, then it is natural to expect bond yields to jump up and for the market to sell off. If we don't get a market sell off after a jump in bond yields, THAT would be a sign of a strong market.
ReplyDeleteI was away from the blog most of Wednesday, and I have to admit I'm too tired to read through the comments. But I do recall scrolling through one of Mark's posts- a calculus tutorial? Now personally, I don't give a ---t about calculus. But it seems to have turned into a running joke.
ReplyDeleteDid you know, price to sales ratio performs beautifully when joined with relative strength. If you start Dec 15, 1951, with the all stocks universe and consider stocks with PSR's below 1 and then buy the 50 with the best one year appreciation, $10k grows $14.1 mil at the end of 1994, compared to $1.7 mil for all stocks.
ReplyDeletePer James O'Shaughnessy
You can then buy that three story house with an elevator and see how fast girls let their knickers down.
My other post keeps going poof. One last try.
ReplyDeleteInternet Company Valuations
ReplyDeleteCompany Ticker Market Cap (Mil) Price/Sales Ratio
Amazon.com, Inc. AMZN $80,791 2.62
Ancestry.com Inc. ACOM $1,297 4.48
AOL, Inc. AOL $2,531 0.97
Baidu.com, Inc. BIDU $33,623 32.93
Google Inc. GOOG $189,937 6.87
IAC/InterActiveCorp IACI $2,881 1.88
InfoSpace, Inc. INSP $300 1.18
Knot, Inc. KNOT $340 2.95
LookSmart, Ltd. LOOK $37 0.72
Move Inc. MOVE $407 2.02
Salesforce.com, Inc. CRM $17,345 11.12
Shanda Interactive SNDA $2,488 2.69
SINA Corporation SINA $4,209 10.79
TheStreet.com, Inc. TSCM $85 1.43
WebMD Health Corp. WBMD $2,982 5.88
Yahoo! Inc. YHOO $21,677 3.4
Facebook* N/A $50,000 25.0
*Assumed value; company is not publicly traded.
Source: Stock Investor Pro. Data as of December 31, 2010.
Too funny, David. Well, in order to avoid straying off topic- we all know that the S, and its DERIVATIVE the Shole, are INTEGRAL parts of the trading environment.
ReplyDeleteToday's post close is worth reading.
ReplyDeleteIncidentally, kaimu is PROLIFIC! The amount of reading and writing he gets in every day is unbelievable.
ReplyDeleteGreat work David! A⌠S ds -> A(S^2)/2 -> 1/2ASS
ReplyDeleteOh you guys....
ReplyDeleteYou know that whatever it is, some Dumb A@@ on TV will attempt to explain it with some bullshit. Bullshit being the operative word.
It doesn't matter what actually happens. It only matters how people FEEL about what happens, and that will first be one way, and then another.
No matter what the outcome is, there will be someone who explains good as bad or bad as good, or good as good and bad as bad.
All I need to know is which set-ups I have long and what sectors are weakest.
The set-ups are easy.
The shorts are in sectors as I only have one named short which no one is actually firing off as the MARKET hasn't decided yet what it's going to do, so until the market speaks, trying to make predictions is total and complete voodoo.
I don't need to pick tops or bottoms, I need a middle of a trend.
The weak sectors are restaurants, discount retail, auto parts stores, gold the commodity and gold stocks. But gold is like a cat, it has nine chances. So if by chance we get some major even, that is where the best shorts will be.
The semis and specialty sectors in semis are quite strong. Metals and mining outside gold, still strong.
The real problem as I see it these days, is everyone thinks professional traders know what is going to happen and trade every tick, so everyone tries to model that behavior. The problem is, professionals have very large positions and they don't trade in and out like hopped up rabbits. They WAIT, buy at the start of a trend, and they hold unless they are stopped out.
As far as traders, Patrick over at CC seems like a sensible sort. You get none of this "you have to be nimble" BS from him. He was in at 1100 something and he has taken some profits along the way so being a smart guy he'll just put some of that $$$ back to work when the trend resumes, or if key support is broken, he will go short, but not until then. He will wait for the market to tell him....like you should.
Today my coach said to me: "I see it all the time. As I wrote in the book, while I was contemplating a micro-management chapter, I got an email about micro-managing!" "Just keep a long term approach".
That's what I intend to do. As for the Hindenberg, I'll just avoid any zeppelin trips for now, fearing a Communication Breakdown, except maybe Stairway to Heaven.
http://www.youtube.com/watch?v=KqF3J8DpEb4
ReplyDeletet3d- What a shock to be reminded that TSCM was once priced near 100/share.
ReplyDeleteAnd I agree, I really like Kaimu, especially thought and effort he puts into his work, like a labor of love he shares with everyone.
ReplyDeleteThere are some things he chooses to leave out though, maybe b/c they're difficult to quantify?
2nd, yeah for about a nano second, say first 10 minutes of its life. I got to give credit to Cramer though he did a lottery for his subscribers and I scored some shares from him that way. Try to get it from brokers was next to impossible. Ah the good ole days.
ReplyDeleteAlso you were talking about using INTC and something else as a cash account ever consider JNJ?
A 4% portfolio gain in one day is not out of the question, especially in the metals sector.
ReplyDeleteFF - Cheers, that was pretty good too!
ReplyDeletet3d- Just about any lagging DJIA component would do it. Obviously, I sold CSCO too soon. On the other hand, glad I wasn't holding INTC today. As a cash substitute, I'm happy with the fractional percentage gains earlier in the week.
ReplyDeleteA favorite LZ song,
ReplyDeletehttp://www.youtube.com/watch?v=RlNhD0oS5pk&feature=related
and the land of snow
http://www.skisilverstar.com/
t3d
We're overdue for a little volatility. Friday's employment numbers may do it, but it's an expected catalyst- on second thought, the expected is the new unexpected. And CP is prepared to be unprepared.
ReplyDeleteFunniest line off the CC blog today-
ReplyDelete'With all due respect to your Hawaiian orchid farming expertise, what I believe Rickard's is saying is that the Fed is holding $1.16 trillion (Nov 09) in excess bank reserves and paying out Fed Funds interest to administer CPR on fictional big and little bank balance sheets.'
Glad to see kaimu took it in stride.
http://www.youtube.com/watch?v=74Zjwg797So&feature=related
ReplyDelete2nd - I'd say your cash positions have done fairly well recently, +4.5% from the most recent bottom.
ReplyDeleteHey now- I like that perspective!
ReplyDeleteAt the open. As Mark would say.
ReplyDeleteWho the hell knows, but i agree with 2nd. We're do for some volatility. I also agree with Craig's take that the DX/SPX correlation will break.
ReplyDeleteI am looking at Ebay. Looks attractive fundamentally( mobile sales are growing) and technically (trading well below 50 day MA). Any opinions?
ReplyDeleteLet me state out again as to why the FOREX markets are going to be a difficult investment in 2011. The emerging markets and commodity-based currencies have been the repositories of global capital seeking to take advantage of the Chinese and India growth phenomena without having to actually invest in the countries themselves. If you like China, buy the Australian equity or currency as it provides a proxy on Beijing’s growth policies: A classic case of providing picks and shovels rather than mining yourself.
ReplyDeleteFood prices are surging as global diets change so BUY Brazil. The story is similar in many other regions of the world but this global flow of money has led to some EMERGING CURRENCIES to appreciate so fast that it’s impacting the economic policies of many nations.
Earlier in the week, the CHILEAN government announced that it was going to stem the rise of the CHILEAN PESO by actively buying U.S. DOLLARS during the next 30 t0 40 days, thus intervening to a set $12 BILLION. The CHILEAN PESO has been the yield-based play on global COPPER prices as the Chileans certainly benefit as being one of the world’s largest COPPER producers. It has been regularly reported that the Brazilians have been unhappy with the REAL‘s appreciation as HIGH Brazilian interest rates and a robust natural resource base have made Brazil a magnet for attracting capital.
In today’s Financial Times, there is a story about Japanese investors having poured money into Brazilian Investments. The reporter, Lindsay Whipp, does a nice job of detailing the best currency carry trade for the last two years. The new Brazilian president is not happy about the impact these hot money flows are having on Brazilian industry so I will be watching for further efforts by the Brazilian Central Bank to stem the inflow of capital. Interesting though, that three months ago the JAPANESE were voicing great concerns about Chinese purchases of Japanese debt and its influence upon the YEN. Now, here we have an EMERGING MARKET NATION pointing to the Japanese investors as having a similar impact. The bottom line is that the FED‘s policies have a global effect as well as a domestic effect as QUANTITATIVE EASE forces global investors to rebalance their portfolios.
The EURO currency was the weak link in the GLOBAL CURRENCY markets as continued uncertainty about sovereign and bank debt in the EUROZONE is causing flight from the world’s second-largest reserve currency. Yesterday, the Swiss National Bank let it be known that it would not take Irish Sovereign Bonds as collateral. Furthermore, there is more talk about forcing investors to take a hit on any BANK DEBT, thus basically forcing the issue on DEFAULT AND RESTRUCTURING. Again, we wonder if the European policy makers are ever going to step up and make some hard decisions. As I often remind traders, markets don’t like uncertainty and the EU is all about equivocation.
The result is that the EURO currency is being sold by central banks and other long-term holders because of a failure to craft a credible plan for the PERIPHERALS. Unfortunately, HOPE is not an effective policy. If the EUROPEAN CENTRAL BANK were to name GERMAN AXEL WEBER as its next president, I think the Germans would get more comfortable that a responsible plan would emerge and the Bavarian Burghers would be more forthcoming in aiding the PIIGS. It’s time for European policy makers to get serious for their options are eroding with time decay.
Let me state out again as to why the FOREX markets are going to be a difficult investment in 2011. The emerging markets and commodity-based currencies have been the repositories of global capital seeking to take advantage of the Chinese and India growth phenomena without having to actually invest in the countries themselves. If you like China, buy the Australian equity or currency as it provides a proxy on Beijing’s growth policies: A classic case of providing picks and shovels rather than mining yourself.
ReplyDeleteFood prices are surging as global diets change so BUY Brazil. The story is similar in many other regions of the world but this global flow of money has led to some EMERGING CURRENCIES to appreciate so fast that it’s impacting the economic policies of many nations.
Earlier in the week, the CHILEAN government announced that it was going to stem the rise of the CHILEAN PESO by actively buying U.S. DOLLARS during the next 30 t0 40 days, thus intervening to a set $12 BILLION. The CHILEAN PESO has been the yield-based play on global COPPER prices as the Chileans certainly benefit as being one of the world’s largest COPPER producers. It has been regularly reported that the Brazilians have been unhappy with the REAL‘s appreciation as HIGH Brazilian interest rates and a robust natural resource base have made Brazil a magnet for attracting capital.
In today’s Financial Times, there is a story about Japanese investors having poured money into Brazilian Investments. The reporter, Lindsay Whipp, does a nice job of detailing the best currency carry trade for the last two years. The new Brazilian president is not happy about the impact these hot money flows are having on Brazilian industry so I will be watching for further efforts by the Brazilian Central Bank to stem the inflow of capital. Interesting though, that three months ago the JAPANESE were voicing great concerns about Chinese purchases of Japanese debt and its influence upon the YEN. Now, here we have an EMERGING MARKET NATION pointing to the Japanese investors as having a similar impact. The bottom line is that the FED‘s policies have a global effect as well as a domestic effect as QUANTITATIVE EASE forces global investors to rebalance their portfolios.
Let me state out again as to why the FOREX markets are going to be a difficult investment in 2011. The emerging markets and commodity-based currencies have been the repositories of global capital seeking to take advantage of the Chinese and India growth phenomena without having to actually invest in the countries themselves. If you like China, buy the Australian equity or currency as it provides a proxy on Beijing’s growth policies: A classic case of providing picks and shovels rather than mining yourself.
ReplyDeleteFood prices are surging as global diets change so BUY Brazil. The story is similar in many other regions of the world but this global flow of money has led to some EMERGING CURRENCIES to appreciate so fast that it’s impacting the economic policies of many nations.
Earlier in the week, the CHILEAN government announced that it was going to stem the rise of the CHILEAN PESO by actively buying U.S. DOLLARS during the next 30 t0 40 days, thus intervening to a set $12 BILLION. The CHILEAN PESO has been the yield-based play on global COPPER prices as the Chileans certainly benefit as being one of the world’s largest COPPER producers. It has been regularly reported that the Brazilians have been unhappy with the REAL‘s appreciation as HIGH Brazilian interest rates and a robust natural resource base have made Brazil a magnet for attracting capital.
In today’s Financial Times, there is a story about Japanese investors having poured money into Brazilian Investments. The reporter, Lindsay Whipp, does a nice job of detailing the best currency carry trade for the last two years. The new Brazilian president is not happy about the impact these hot money flows are having on Brazilian industry so I will be watching for further efforts by the Brazilian Central Bank to stem the inflow of capital. Interesting though, that three months ago the JAPANESE were voicing great concerns about Chinese purchases of Japanese debt and its influence upon the YEN. Now, here we have an EMERGING MARKET NATION pointing to the Japanese investors as having a similar impact. The bottom line is that the FED‘s policies have a global effect as well as a domestic effect as QUANTITATIVE EASE forces global investors to rebalance their portfolios.
ReplyDeleteThe EURO currency was the weak link in the GLOBAL CURRENCY markets as continued uncertainty about sovereign and bank debt in the EUROZONE is causing flight from the world’s second-largest reserve currency. Yesterday, the Swiss National Bank let it be known that it would not take Irish Sovereign Bonds as collateral. Furthermore, there is more talk about forcing investors to take a hit on any BANK DEBT, thus basically forcing the issue on DEFAULT AND RESTRUCTURING. Again, we wonder if the European policy makers are ever going to step up and make some hard decisions. As I often remind traders, markets don’t like uncertainty and the EU is all about equivocation.
The result is that the EURO currency is being sold by central banks and other long-term holders because of a failure to craft a credible plan for the PERIPHERALS. Unfortunately, HOPE is not an effective policy. If the EUROPEAN CENTRAL BANK were to name GERMAN AXEL WEBER as its next president, I think the Germans would get more comfortable that a responsible plan would emerge and the Bavarian Burghers would be more forthcoming in aiding the PIIGS. It’s time for European policy makers to get serious for their options are eroding with time decay.
Sorry, says url too long and then it shows up with a lag. t3d
ReplyDeletet3d- It's OK, man. At least each repetition is smart enough to start out with 'Let me state out again...' ;)
ReplyDeletebtw, what would you recommend as the best site/book for getting up to speed on FX?
SLW bid/ask 33.98/33.20 (Thursday close 34.19). Down from 42+ a month ago.
ReplyDelete2nd - The post-close writeup was good...
ReplyDelete"All week long any early morning weakness has been aggressively bought – an obvious clue institutions are attempting to build substantial positions in these relatively cheap stocks." NVDA, MRVL as he mentioned. I'll add ONNN.
SLW/HL - There's a reversal in there somewhere, but yday was 'short' day...
[09:34] {Threei} Short Setup: SLW .35 break
[09:35] {Threei} 1:1
[09:35] {Threei} 1:2
[09:35] {jfjf64} beauty
[09:39] {Threei} SLW is bottomless
I hope the 348k portfolio had trailing stops in place...
ReplyDelete2nd, FX, basically clueless.
ReplyDeleteGo DO
Gold $10 bucks off low, may be getting closer to opp
http://www.cx-portal.com/metal/gold_en.html
Waiting for the reaction/counter-reactions to clear...I still have no clue where things are headed. ..gun to head-> down.
ReplyDeleteINTC for one is already down.
ReplyDeleteI'm kinda lost too, except I see gold and silver have stopped falling?
ReplyDeleteThe reversal in SLW would have been a great trade.
ReplyDeleteGMO - I'll try offing the shares bought yesterday...
ReplyDeletehttp://www.marketwatch.com/story/goldman-predicts-1500-sp-500-by-year-end-2011-01-07
ReplyDeleteTired today.
ReplyDeleteGood Morning Vietnam!
ReplyDeletehttp://www.youtube.com/watch?v=JKNZgDbLwGY
VNM, trying to fill the gap if it does I'm long.
t3d
Man, if these South American countries want to push their currencies down, why don't they take a large bite of a falling knife like Irish debt?
ReplyDeleteThey might even be able to buy the entire Irish financial system on the cheap and write down the losses, providing even greater opportunity to push the Peso currency to new lows?
HERO downgrade might create an opportunity.
ReplyDeleteT3D- VNM...23.16?
ReplyDeleteSorry, 26.13.
ReplyDeleteFinancials selling off pretty good here.
ReplyDeleteTired? - Could be a health problem you know, I had an uncle who was tired all the time and after a couple of years dicking around they eventually did blood work and discovered cancer.
ReplyDeleteGS predicts SPX 1500 by year end newSubmitted by 2nd_ave (5136 comments) on Fri, 01/07/2011 - 10:57 #77371
ReplyDeletehttp://www.marketwatch.com/story/goldman-predicts-...
The ghost of Abby Cohen still floats in the corridors.
Mark, in that vicinity, consider not trading when tired, always another day.
ReplyDeletesold DO, have order below to re-buy
VNM, was going to buy at 26.32 but my friend KAM called and the asked jumped to .59, looks like I missed.
Actually that's not quite right, they did an MRI and discovered cancerous growth in his upper lung area.
ReplyDeleteBernanke should've said he was going to pump some more...
ReplyDeleteJPM- Man, that's ugly time.
ReplyDeleteWFC- Real ugly time.
ReplyDeleteLung Cancer. Great. ;)
I see you guys in a few.
ReplyDeleteWFC is getting destroyed
ReplyDeleteSubmitted by Vadym Graifer (1692 comments) on Fri, 01/07/2011 - 11:03 #77373
10:32:44 (US) US Bancorp and Wells Fargo lose closely-watched foreclosure case in Massachusetts; banks rejected in effort to be awarded title to properties acquired in foreclosure sales - US financial press
- Court says banks did not show that they held title to the underlying mortgages when the foreclosures occurred.
Yeah, his blood was all out of whack and he was on some kind of treatment for that but wasn't recovering so after a couple years of that he found another physician who threw him on an MRI and discovered the problem.
ReplyDelete"Court says banks did not show that they held title to the underlying mortgages when the foreclosures occurred. "
ReplyDeleteExcellent, so this should keep supply off the market...
NLY - Still recovering from their "dilution" scare.
ReplyDeletePeople don't realize it's impossible for NLY to dilute.
Call me crazy, but it seems like these banks really are in no hurry to foreclose anyway?
ReplyDeleteJust my impression, I'm known to be wrong occasionally...
Chickie,
ReplyDeleteCancer! Way to spread sunshine and happiness.
This Market is in transition and though overall flat i see great oppertunity for short term trading. But its a dance and you need to stay nimble and be professional right!
Bob
Listening to Bernak meeting. Fascinating and scary, they are talking about the states getting a bailout. FED says not our problem or responsibility, neither Congress or FED has a plan for states. One senator said its not a matter of if, but when. This is very dangerous for the longs, can't believe traders are selling this market hard.
ReplyDeleteCopper down $0.03, still in cooling off period.
ReplyDeleteTC - 07-Jan-11 10:40AM Thompson Creek Metals upgraded by Canaccord Genuity Briefing.com
"Way to spread sunshine and happiness."
ReplyDeleteNot necessarily a death sentence if caught early, and sometimes there are warning signs. I'm not a physician, just giving my account of reality.
Anyway, better safe than sorry when it comes to this particular subject.
"can't believe traders aren't selling this market hard. "
ReplyDeleteLooks like they are now...
'bout time...
ReplyDeleteI really can't get my arms around this state deficit stuff, unemployment is now 5% higher than it was before and state employees have had comparatively lavish pension programs as if taxpayer money grows on trees.
ReplyDeleteLive within your means, your finances should be handled as if it they a business, not a taxpayer handout.
This is why I don't buy muni's or T's, b/c I understand government mentality.
No foreclosures, no FED help?
ReplyDeleteSWC finally broke $20 support moving buy to cover stop down to 20.06 as 20.00 should be resistance now.
ReplyDeleteI guess we are following script A
ReplyDeleteSubmitted by jack black (1083 comments) on Fri, 01/07/2011 - 11:56 #77385
according to a plan: http://lh4.ggpht.com/_APmrYvpA45s/TSZtLhDjDnI/AAAA...
Re: I guess we are following script A newSubmitted by 2nd_ave (5137 comments) on Fri, 01/07/2011 - 13:01 #77391 (in reply to #77385)
ReplyDeletejack- Thanks for the charts.
Just shorted 300 shares of FCX at $115.70. I think the recent change in attitude toward commodities is for real, and copper together with FCX has a long way to go down. I say FCX drops below $100 in January. Just in case, however, I am placing a buy to cover stop limit order at $118.70, at the top of its recent 3-day range.
ReplyDeleteAlso, I got stopped out of my remaining 1700 shares of UNG today at $5.93. So I am officially gas-free now!
ReplyDeleteCraig that HDY is one wild ride. Good thing you have a system. That puppy messes with fear and greed minute by minute.
ReplyDeleteRB
David - Have a Beeno!
ReplyDeleteI got stopped out of INTC 24.50, BEN 109.48 and TBT 38.10 this morning. With tight stops I am following the philosophy of not letting gains turn into losses. If this continues I will be in cash in no time.
ReplyDeleteGDX/GDXJ on the wrong side of the 200.
ReplyDeleteHDY: Sometimes it pays to just turn off the screens, walk away and let the computer handle it. A mere mortal might go crazy.
ReplyDeleteFCX - 07-Jan-11 Upgrade Canaccord Genuity Hold → Buy $98 → $135
ReplyDeleteGDXJ - An +11% day coming soon?
ReplyDeleteMy wife works with autistic/special needs kids.
ReplyDeleteShe said she is having trouble keeping up with all of the new stuff kids play with like knowing the names of the transformers.
I'll have to remind her that it's the same for us.
Today it's the Decepticons against Maximus Prime.
Hmmm...The VIX has given back 75% of todays move.
ReplyDeleteCADC - Ouch, the rat-bastards took their money and ran...
ReplyDeleteT3D- Still like UPL here? This is a technical area I usually like to enter.
ReplyDeleteGMO - Dang, they came within $0.02 of buying those shares from me.
ReplyDeleteThis is what I don't like about day trading....
BA - Boing!
ReplyDelete"http://www.marketwatch.com/story/goldman-predicts-1500-sp-500-by-year-end-2011-01-07"
ReplyDeleteThat's a great story to see, and it is not the first one of this kind. We must be VERY close to the top, simply because the public must have trusted GS and invested their last pennies into the market, and now no more retail buyers remain.
Mark, UPL, I still own it. A little below the 50 day at 46.87. Not acting strong that's for sure, you could make the case that the who area above that gap for the last 60 days becomes an island reversal to the down side. Nervous long.
ReplyDeleteHello Vietnam, trying to say good bye Vietnam but they have not hit yet. Actually if someone put this away for 10 years I think they would be very happy, one of Faber's like I think.
2nd cued me in on this when he partied with some friends from Nam.
Just shorted 100 more shares of FCX at $116.85 and placed buy to cover stop at $118.85.
ReplyDeleteMan, the intraday timing of my original FCX short was great -- right at the cusp of today's market drop!
ReplyDelete1277 would spin my teacup.
ReplyDeleteVIX now red.
ReplyDeleteMan, this pattern of mid-day drops and V-shaped recoveries should be very upsetting to the bears, as it shows that a lot of buying pressure is still present in the market. I suppose the right time to go short will be when a mid-day drop turns into a whole day drop.
ReplyDeleteOil about to go green.
ReplyDeleteFunny how PM's, and maybe commodities too, always seem to slump prior to Uncle Ben's public appearances.
ReplyDeleteI'm not buying this EOD ramp. I think it's a bull trap.
ReplyDelete2nd -- do you feel that this is a trap that will become apparent EOD today or on Monday?
ReplyDeleteIn order to carry the confusion through the weekend, we must not close above 1274.
ReplyDeleteI was going to say EOD, but I can already tell that's not going to happen.
ReplyDeletePerhaps at this point upside hesitation builds over next course of action by Chinese monetary authorities?
ReplyDeleteOnly imbalance I can find either way is SELL- JPM.
ReplyDeleteI'm not finding any weekly setups like ASTI and SOL from last week. Maybe MOTR LIBOR and VIX.
ReplyDeleteAAPL will close the Q's green today.
ReplyDeleteJust buy the dips! really all you need to know right?
ReplyDeleteJesse- AKRX looks interesting.
ReplyDeleteThe volatility of that ramp steadily decreases, which suggests there will be a spike right before the close. Which way? I say up, so as to be consistent with recent history. If, however, the spike will be down, that will be a sign that the market mood is changing.
ReplyDeleteRAS strong into the close.
ReplyDeleteRB - Are you being facetious? ;)
ReplyDeleteYES, but maybe i should trade my facetiousness.
ReplyDeletePicked up VXX at the close. If they are going to pull out the rug for an all-out one week romp, it'll be next week. The week after is options week. Doesn't seem like anything fun ever happens during options week when everyone is busy pinning prices.....
ReplyDeleteThe Straight People!
ReplyDeleteNow playing in patios and parking lots everywhere, from Paranoid Pictures.
(This movie has been rated X, the unknown, absolutely no one admitted!)
Mark/Tof and anybody else in RAS- great week! I had it on the weekly setup list w/ SOL, ASTI, and LSCG last Friday. Did I buy any? NO!:( Just a little ASTI. I just noticed RAS' high flag. Maybe more to come next week? Good luck.
ReplyDeleteRB, I can certainly identify with your counter-subversive approach. ;)
ReplyDeleteToday's late-day rebound in Russell 2000 futures was, just like on Tuesday, exactly half of the initial morning drop. I suppose computers are still trading these markets. So if the script keeps up, the futures should start falling now so as to lure the few human traders into believing that the rebound is over, and then the futures should shoot up.
ReplyDeleteThe Straight People!
ReplyDeleteSounds like a box office winner. Who does it star and what is the plot line?
Bob
Wow strong close for the bulls. I see my spy puts and typ were up big and then closed basically flat. That's some ugly stuff for any bears. Hussman has to be like wtf is going on. Him and grantham have fair values at like 900 so we're like 40% overvalued. Ewww. I have to say I agree that we're due for a correction.
ReplyDeleteAnd I keep moving my stops up on ras which are now at 2.32. I have an excessively large position so stops are needed
I see three topping tail hammers on the 3 mth daily chart on spy...just saying
ReplyDeleteTeam,
ReplyDeleteWhy are you on here? Shouldn't you be breaking out into a COLD SWEAT by now or maybe just warming your FEET.
RB
I'm not quite certain of whom the stars are, for this movie is impossible to watch. No matter, for I perceive that hidden behind this seemingly unrelated sequence of events, there lurks a singular, sinister attitude of mind.
ReplyDeleteBut what we, second-story men? Perhaps not! If it's adventures we want, we'll have to make them up ourselves!
Some crazy moves in the oil patch today..
ReplyDeleteWeeee!!!...WRN/LNG
Boooo!!!...ATPG/HERO