4-0 newSubmitted by 2nd_ave (5535 comments) on Fri, 04/15/2011 - 19:17 #83974
I channel-surfed every position on my watchlist all day, and the bat left my shoulder only once: an 8-cent foul ball swinging at TZA.
It was such a hollow trading day, I can't even come up with a song.
Opened TZA @ 36.18, closed @ 36.10. The only excitement is watching the after-hours bid/ask drop down to 35.71/35.76- which means I dodged another ultrashort bullet.
ReplyDeleteI don't know what to say about CSCO, illini. Watching last week's high volume spike above 18 had me believing a floor was in place.
ReplyDeleteThey even took SLW down, SLV still walking away like a five finger discount shopper...
ReplyDeletejesse- Can you fill us in on the following lead post on ST:
ReplyDelete'Rydex Traders Finally Get More Bearish, While The VIX And S&P Sink Together'
$17 looks like a bargain to me, I'm thinking about buying here myself b/c you know someone's holding it down on purpose.
ReplyDeleteThat said, I know someone who has a broker handle her account and the broker told her hell no when I suggested CSCO last quarter. This broker's had her in JNJ for a long time but I don't know how well that strategy has really worked without moving in and out I doubt if he's actually made her money.
http://www.wsw.com/webcast/roth24/mitk.ob/
ReplyDeleteWhat's the subject of the webcast?
ReplyDeleteSVU - This one seems to have lit a fire under the others.
ReplyDeleteMITK - Oh God, Roth is involved? Not that something good can't come of it but Roth is more than likely the MITK MM, just like they are for CADC???
ReplyDeleteHey, wouldn't a natty powered hybrid electric be pretty cool?
ReplyDeleteFTWR - LOL, finally shorts covering?
ReplyDeleteGOOG - Ouchi, ouch, ouch!
ReplyDeleteCP- Do you know how to easily find out who the market makers are for individual stocks? I can always find out who it is, but it takes a lot of digging.
ReplyDeleteCP - I don't think Roth is involved with Mitek. I think they just did a presentation at one of their conferences. They also did one at Barclays conference. I'm very excited to see them start monetizing their partnerships with Chase and BofA. Chase is really pushing their mobile deposit.
ReplyDeleteAll right TOF. Fess up. How many shares of this baby do you have. Refuse to answer, and RB is heading your way.
ReplyDeletei thought i already told you...too many my friend. way too many. i single handedly drove the price up yesterday.
ReplyDeleteMark - Yes, in my experience it takes a lot of digging to find the MM, not sure if there's a site for that info but wouldn't surprise me. Haven't looked.
ReplyDeleteCP- Yeah, I've actually looked for a list pretty hard. Can't find it obviously.
ReplyDeleteTOF- OK, RB's on hold for now....NOW.
FCX - Has fallen under it's 150SMA, metals traders have and will note this as cautionary.
ReplyDeleteRSI(2) is less than 2, so I'd expect at least a tradeable bounce based on that.
RSI(7) has settled to less than 25.
Seems like we're between a rock and a hard place, or at least Congress is, concerning raising the debt limit, the FED rate, and/or higher commodity prices.
Can the Treasury keep rolling the debt over into a rising rate environment without defaulting, or will the FED continue sacrificing the dollar in order to keep T rates low? Seems like the credit card is maxed out, so if spending is to continue based on an increased debt ceiling and dwindling Treasury receipts, then the money spent is bound to become worth less and less.
Yes, behold the monetary "meltdown" that's been in the works for just over a couple of decades as it unfolds. Are the Jones' experiencing a little trouble keeping up, or are they choosing to switch rather than fight?
2nd - I've got a song for ya': "Raindrops Keep Fallin' On My Head".
So what happens this time if the equities market sells off, will PM's sell off with it? Some think PM's are becoming a safe haven of choice as opposed to Treasuries, might we some day enter the discovery process?
ReplyDeleteStay tuned, sports fans!
Hmmm.... Didn't Golman just say "Retreat from commodities"?
ReplyDelete"Goldman Sachs Misses Out on $11 Billion Glencore Initial Sale"
http://www.businessweek.com/news/2011-04-14/goldman-sachs-misses-out-on-11-billion-glencore-initial-sale.html
CSCO is now a max worry stock for me. Appears to be a bargain but no catalyst for upside with the CEO bad mouthing his own tenure. Closing down the Pure Digital video camera operation is an astounding admission of defeat and pure judgement in acquisitions. (I have one of those cameras and like it.) Probably more write downs to come considering they have made so many small acquisitions over the years. Only positive besides bargain basement price is possibility of reforming themselves and going back to basics. Routers. Moat on switches is drying up.
ReplyDeleteadding AZPN to the watch list. love the recent consolidation. I think it can move past 16.50 in short order.
ReplyDeleteAZPN- Yep, like the chart.
ReplyDeletePhucking been wasting my entire morning on TOF's POS MITK. Already have a frigging headache. :)
what is MITK? you know what the cure for a headache is......soccer tourney! good luck this weekend.
ReplyDeleteMark what have you come up with?
ReplyDeleteCSCO - illini - Well, maybe you've got a point there, there must be good reason(s) for the performance? So does their EPS guidance fit with the drubbing?
ReplyDeleteArgh, sorry it's not looking good....
Gold Miners - I'm guessing the crowd believes lower gold prices are in store or wants to see gold hang onto gains before committing...
http://mobile.americanbanker.com/articles/206307771
ReplyDeleteHere's another article oon mobile depositing
CSCO - 5/21 MP is $18, FWIW
ReplyDeleteMITK - I like the mobile charge card reader, seems like a small vendor type would go for that.
ReplyDeleteIm still trying to confirm that mitek gets 0.10 for every mobile deposit. Mitek owns this entire market from what im reading...I found another player, mFoundry, but found out they just use mitek...I honestly think this thing gets bought out but if not it will be in the 30 to 40 range in 2012
ReplyDelete"Here's the 1-year silver chart. As I keep pointing out, the RSI is well into overbought territory...and the top-callers are out in force. Maybe that's why the shares of both silver and gold didn't do so well these last couple of days. Or maybe the smart in-the-know money is taking profits before the JPMorgan hammer falls. In the past, lousy share price action in the face of big gains in the metals themselves, has always been the tell-tale sign that the bullion banks were about to pull the pin. We'll find out soon enough...maybe on Monday."
ReplyDeletehttp://www.caseyresearch.com/gsd/home
Ok Mark. Are you back yet? Lets see some pictures.
ReplyDeleteillini- Hey buddy! 1 day tourny tomorrow. 4 games.
ReplyDeleteTOF- Not much really. Seems like you've got it pretty well covered. I too could not find any 'hard' evidence on the deposit fee. Since it seems only 5 of the big players are in right now, I suspect they would accept much lower fees than once it scales to the smaller guys. Bill pay aspect is interesting also. I can see the cost savings for the banks.
TOF- Why not call the investor rep.? Your smart enough to ask the right questions.
ReplyDeleteAny phosphate producers on the watch list? I found one, LGDI.OB Apparently there aren't too many of these? Shouldn't we anticipate high food prices will increase demand for phosphates?
ReplyDeleteFing Zito!! Double/walk/throws the ball in center feild on a pic off play @ 2nd/double, 2 runs scored/single.
ReplyDeleteGame tied 2-2. Just shot me.
Raise taxes, print money, or borrow money.
ReplyDeleteThe first two are forms of taxation, the third is a modified form of taxation some might call kicking the can down the road.
TLT - Short float = 66%???
ReplyDeleteGLD - " " = 5%
HL - Mine shaft collapse, 1 worker missing.
CP- You get these really crazy short floats all the time on the ETF's. I've seen 90% before in SPY. Something must be off there.
ReplyDeleteMark > Zito is washed up man...people learned how to hit him and his stuff isn't exactly dominating.
ReplyDeleteComparison Shopping: Last week, SLV + 4%, TLT + 3%, GLD + 1%, CEF + .4% SPX - 1%, RBY - 8%.
ReplyDeletehttp://finance.yahoo.com/echarts?s=tlt#chart9:symbol=tlt;range=5d;compare=cef+^gspc+gld+slv;indicator=volume;charttype=candlestick;crosshair=off;ohlcvalues=0;logscale=off;source=undefined
RBY - Lots of unhappy campers there, wonder if this week isn't a might bit better???
ReplyDeleteAGQ - Maybe a better choice? Or perhaps ZSL/DZZ?
Sticking with RBY for now.
Seems like the rhetoric against Wall Street is heating up, wonder if Wall Street isn't preparing to retaliate?
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