Monday, November 14, 2011
11/14/11 Sure of my life, no one is there
Eventful weekend.
'We' won the 8 am playoff game 6-0, then lost the 5 pm game (played under lights) 0-6. The little guy was quite frustrated.
Wife's Mom was admitted to a hospital in SF for a stroke. I think she dodged a bullet, as her motor deficits appear minor for now.
There's an old story about how we slowly assimilate the values we consider important, and become at age 60 (or so) the person we wish to be. That's certainly true for me with regard to being a Dad.
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Damn. We have HEK, DANG, and Cox Sacker among the terms that escaped our resident censor (tof) today. WTF.
ReplyDeleteAs you know, going through the same here 2nd. Good luck my friend.
ReplyDeleteAnd I couldn't agree more about the Dad comment :)
ReplyDeleteGood Night to west coasters et all.
ReplyDeleteNight Illini. Don't be such a stranger:)
ReplyDeleteMan, how the F MITK doesn't get blown up tomorrow, I have no figgin idea.
ReplyDeleteMark - where are you seeing a $100 MM shelf registration? I don't see it.
ReplyDeletehttp://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7907423
ReplyDeleteTOF- There it is.
wow...what the hell are they diluting the stock so much for? they have plenty of $$.
ReplyDeleteTOF- Leverage, plain and simple. They probably think it's now or ever. Man, this really sucks in my book. Perhaps more troubling is the USB .50 fee. Shit, that's triple what MITK makes.
ReplyDeletemorning guys!
ReplyDelete2nd - sorry to hear about your MIL, I hope she has a complete recovery.
Looks weak in euro land again, time for more SDS calls
Wonder if Europe will ever get around to pushing the print button?
ReplyDeleteMark - That's ridiculous man. I'm surprised MITK hasn't already tested the $6.5 area. I'm sure it will happen soon with that shelf offering...unless they get bought out or too many shorts get on board. That's probably what is levitating this thing.
ReplyDeleteMaybe it's bc i'm long but I sense a big move up coming very soon.
ReplyDeleteSino-Forest - Panel rejects Muddy Waters' Fraud Accusation:
ReplyDeletehttp://www.google.com/hostednews/ap/article/ALeqM5juZJBt3XwLHu7HUAjqhzduTXWT4A?docId=58992e921dde443ba46f2ba11e517d72
Another factoid supporting the bull case - this time from Sentiment Trader:
ReplyDeletehttp://www.sentimentrader.com/comments/20111115_gaps.htm
"So other than our current situation, there were five times that the S&P saw a large number of unfilled gaps in a 3-month span.
All five marked major market bottoms."
MDW - Back to $2 now...
ReplyDeleteOkay, so I've decided I've got better things to do than sit here and watch nothing happen, so I placed a stink bid on SVM to accumulate at $8.05 while I go outside and enjoy a nice day...
ReplyDeleteGLTA, scream at ya' later!
When TBT hit my sell limit at $20.50 last week, I thought that it had finally started a steady climb and I could not believe it would drop down to 19.50 again. But it did, and hit my buy limit for 100 shares at $19.50. Together with another 100 shares I purchased at $20 yesterday, I have now "reloaded" 200 shares at the average cost of $20.75, and I have just placed a sell limit at $20.50 for these shares once again.
ReplyDeleteI also couldn't believe that AUMN will drop below $7.50 again, but it did. So I just placed a buy limit order for 10 AUMN December $5 calls at $2.30, in case it drops to low 7's this week.
ReplyDeleteThe eBay of energy: XWES:
ReplyDeletehttp://finance.yahoo.com/news/GSA-Region-2-Wins-Real-iw-3388219195.html?x=0&l=1
CLNE...Nice squeeze there.
ReplyDeleteTOF- Nice call on CVV!
ReplyDeleteOPEN made it across the line by .10 today :)
ReplyDeleteFarting cars...CPST/CLNE/WPRT...What happened in this group today?
ReplyDeleteTZA - I'm so very tempted to take a position in TZA tonight...
ReplyDeletedoing nothing, sittin tight, too many peeps around my desk today anyway.
ReplyDeleteruh roh, my SPY strangle is now underwater by $119.00 today. I really need more movement to make it work. I didn't check the volatility on this when I first put it on but I wouldn't be surprised to see it coming down some which is bad if you are long a strangle/straddle.
I had an alert pop up today that BRC met my low target. Now here's the bad part. I'm pretty sure I'm the one who set the alert but I don't remember why. My fundamental analysis is reading what others have to say. Either I trust them or I don't. And then, what they are saying about a stock interest me and I set a target, maybe a target they suggested, or I just put it on a watch list. Now I can't remember who suggested BRC as an investment and why I set this target.
Natural gas is hittin new two year lows. I sent out the balance of the month price today around $3.07. I did a quick look at me emails at work and it looks like the last time it was this low was Aug-Sep09. In Aug the balance of the month price got down to the upper $2.70's.
ReplyDeleteI don't know how to take advantage of that either. I used to think the best way was to buy a producer but now I'm getting a bit more concerned about possible fracking regulation. That would mean you need to pick your producers carefully because drilling in PA or NY will have more regulatory risk than say TX where we would gladly sell out anything with value.
Man, I'm getting the impression everyone on the planet is on the bear side...
ReplyDeleteBRC - Doesn't ring a bell, but the strong bounce off the 50SMA raises my curiosity...
ReplyDelete"Man, I'm getting the impression everyone on the planet is on the bear side..."
ReplyDeleteWhy do you say that, CP?
I don't understand the Goldman sachs/partnership structure. Was it kass or Cramer that once said they could take GS private?
ReplyDelete"Why do you say that, CP?"
ReplyDeleteWell, it's my impression that a vast majority of the news is biased negatively. Apparently we did receive some improvement in the economic figures today though, from both sides of the little pond.
Evening boyz...
ReplyDeleteMITK- Hard to believe it's still below my FIRST sale price. 9.60ish. Last 12.30ish...Still, I have no fing ideas here. Help!
ReplyDeleteHey guys-
ReplyDeleteDoing some time in Lovina, Indonesia these days after a stay behind the Great Firewall of China.
Some quick observations:
My suspicion is that natural gas may make a major long-term bottom in the next few sessions.
*Tomorrow will be day 3 of UNG's monthly 4 day roll. This may be playing a part in the action.
*The last time I checked, winter tends to be cold, which generally causes natty to rise (mid-November would be an ideal time for a bottom)
*UNG is rolling into January contracts at $3.54. Feb-Oct of 2012 are 3.56, 3.53,3.56, 3.61, 3.64,3.70, 3.73, 3.73, 3.77. Therefore, the forward curve is as "flat" as I've ever seen it which bodes well for instruments like UNG, GAZ, BOIL, HUNZF etc..
*Probably most importantly, the crude/natty ratio reached an all-time high today at 29.13. The long-term avg. is 9-10.
This link may or may not work: http://stockcharts.com/h-sc/ui?s=%24wtic%3A%24natgas
Other random thoughts:
-I still like FRO
-I LOVED PEIX between .28 and .32 as the chart showed a major move ahead. I put 100% of the port into it (unfortunately, can't margin it) and sold at .44. I just looked at where it closed today:( Makes me want to cry.
-CVV earnings were a BIG disappointment imo. I've been watching it for about 9 months now and management has always been very transparant with the monthly order/backlog figures. They had been steadily increasing month after month and quarter after quarter. They suddenly stopped issuing backlog pr's a few months ago which scared me. In today's release, their backlog figure decreased from 22 million to 18 million quarter over quarter. My guess is this could take CVV out of momo contention for the next few months until backlog momentum increases again. The biggest deal breaker in my book is their move into a larger facility which usually brings with it higher expenses, lower productivity, and lower eps in the intermediate term.
-TBT looks good for a long trade.
-TEX/ZEUS insiders continue to buy as the stocks surge. Haven't checked to see if BAS insiders have continued buying.
-NOIZ looks like a good momo play w/ .24 eps and a new long-term deal announced last week. I see that TOF brought it up a day or two ago.
-Solar stocks still look terrible. The reports I'm seeing still see poly prices decreasing another 25% or so heading into next Spring.
-I see NFLX eps projections just went from $1.45 to -.18 next quarter and from $6.88 to $1.21 for 2012!! WTF happened? After the fiasco 2 months ago, estimates barely budged. Crazy.
http://news.bbc.co.uk/2/hi/programmes/hardtalk/9639507.stm Kyle Bass.
ReplyDeleteThis is why I am down on the market now. Furthermore, believe that another recession is coming in 2012. So do ECRI and Bass and some others. Watch out! It's Europe. Greece is a sideshow. Italy, then Spain can bring down the house of cards, taking along the global market.
PORT 2013:
ReplyDelete"I sent out the balance of the month price today around $3.07."
Are you suggesting that natty may average around $3.07 for the rest of the month or that it may touch $3.07 as the low? I'd like to see at least $3.30.
test
ReplyDeleteJesse
ReplyDeleteYesterday Henry Hub averaged $3.15 for today's flow. I've already deleted the files from my inbox for today but I'm pretty sure they traded lower.
The "balance of the month price" or "BalMo" as we call it is a financially settled product that starts trading as soon as the futures contract settles. I'm not sure if this is also a futures product or not but most of us don't trade them, we just use it as an indication of what the Henry Hub physical prices will trade at for the rest of the month. In my shop we use it to mark our curves for whatever days are left in the month of November.
So at 2 PM CT today, it was trading for Nov 17-30 and it was $3.07 / $3.075, so we say bid at $3.07, offered at $3.075. So that was the best bid and offer at that time and we just assume its the best guess for what prices will trade at for the rest of the month.
What would interest you is the spread between the BalMo and Dec11 which was around (3.40 - $3.07) $.33 this afternoon.
One more thing, that spread tells me that peeps are trying to put as much gas in storage as they can. If they had set up the month to pull gas out of storage AND if they have the flexibility, the could buy a BalMo product and sell Dec11 futures or forwards.
ReplyDeleteAnd maybe David will find this interesting, as of today, I've rolled over half my storage to Nov12-Mar13. There might be better spreads later but I was more focused on just paying my demand charges for the Apr12-Mar13 cycle. This last year was brutal. Many peeps that bought storage assets to optimize, thinking banks here, are hurting right now. Most of those storage facilities can be cycled several times a year which means more optionality which means you pay more for them. My storage isn't that flexible so it's cheaper.
ReplyDeleteI second illini, I'm bearish because of the ECRI which Jon Markman has referred to. Also, I'm very concerned about the debt levels the US, Japan, and soon all of Europe. Maybe we can all increase our debt and it doesn't matter? It's hard to imagine.
ReplyDeleteMan, the futures look horrible tonight -- I wonder what happened after hours? In a preparation for a total washout tomorrow, I placed a buy limit for 200 shares of TBT at the unthinkably low price of $18.50. Also, I decided to change my buy limit order for 10 AUMM $5 calls to the January expiration for $2.40.
ReplyDeleteS&P futures since 10/18, sampled at 1 hour interval, show a perfect flag formation, with higher lows and lower highs. That flag should be broken this week, and the direction of the break will set the tone for the next big move.
ReplyDeleteMy complaint about futures was acknowledged :), and they shot up from -1.20% to -0.3%. So I guess I won't be buying TBT at $18.50 tomorrow...
ReplyDeleteThe futures are at 1250 now, which is EXACTLY the middle line of the flag that is being formed since 10/18. Nice number they picked for this flag. :)
ReplyDeleteShipping data:
ReplyDeleteThe data from the nation’s ports is piling up and it is not
piling up nearly high enough, for as reported in the most
recent Journal of Commerce, the CEO of Maersk’s North
Asia line, the trend of global trade is that of “slow,
creeping sickness.” Robust this is not. At the US’
largest port… the Port of Los Angeles… this year’s
movement of loaded TEUs in-bound from abroad is up,
but it is barely so: +2.7% year-on-year. A report on
shipping done for the Port by the National Retail
Federation had earlier this year forecast growth of
11.8%. It ain’t gona’ get there.
The group that did the report… Ben Hackett
Associates… now has revised downward its projections
materially: to +2.6% in October; to +4.0% in November
and to +2.7% in December, all year-on-year.
At the same time, the numbers of new ships coming on
line is high and rising. This year, according to
Alphaliner… the group that keeps these records… there
will be 47 new large ships… those capable of carrying
10-18 thousand TEUs each… delivered, putting nearly
600,000 TUEs on the ocean more than last year. Next
year… 2012… Alphaliner said that there will be 56 more
ships on the water, putting another 725,000 TEUs afloat.
In ’13, another… yes, another!... 50 ships will be
delivered, putting 690,000 TUES afloat, and then looking
out to 2014, which is about as far forward as is
reasonable to look, another 38 ship will be delivered,
and this will put another 525,000 TUEs afloat. As
Alphaliner reported,
The carriers first action after emerging from
the worst recession in container shipping
history ever was to order even more
capacity. New orders were placed in an
already over-supplied market.
To make this case clearer, the Shanghai Container
Freight Index… base $1000 as of October 2009… has
fallen to yet another new multi-year low. A year ago it
was just over $1300; by mid-year this year it was down
to just under $1000 and most recently it was $947, with
each high and each low lower than the previous. This
was and is a true bear market.
ECRI observation:
ReplyDeleteWe note then that the Economic Cycle Research
Institute’s weekly leading index has begun to manifestly
turn for the better. Having turned down in April of this
year and having remained steadfastly lower all through
the spring, the summer and into the early autumn, by
late September-early October this index began to turn
for the better. We take note, for over the years we’ve
come to rely upon the ECRI’s weekly index for guidance
as to the direction of the US economy.
We note that the Index is still in negative territory and
that does indeed give us a reason to pause and not
become egregiously, uproariously, fantastically bullish of
the US economy, but the fact that it has turned clearly
for the better is a signal we cannot and we shall not
ignore. History has proven that ignoring clear turning
points in this index can be a costly error of judgment.
look fellas...too many people are wringing their hands over the european situation. in all honesty no oone knows how it will pllay out...odds of it falling apart are quite high but it might not. the fact of the matter is that the economy is improving and in my opinion gaining momentum. when the collective group of worriers realizes thatt this is the case and that this is what they should be focused on, the markets will roar higher. can we drop 10pct or 20ppct? sure. but in a couple of years we will be MUCH higher
ReplyDeleteI would agree with CP. You've got people out saying "this will take years to fix", Germany and the US aren't any better than Italy, there are no buyers for the government bonds, etc. Pretty dismal commentary.
ReplyDeleteEarnings continue to be good though.
Bullish sentiment up to 47.4% from 44.2% in the latest US Investor's Intelligence poll Bearish sentiment decreases to 32.6% from 34.7%, so some movement towards the Bull camp, but nothing extreme.
JAG -- (Reuters) - China's Shandong Gold Group, the parent of Shandong Gold Mining (600547.SS) and a big gold producer, has made a $1 billion offer to acquire Brazil's Jaguar Mining (JAG.N) (JAG.TO), two sources close to the deal told Reuters on Wednesday.
ReplyDeleteNICE Kyle!!!!
ReplyDeleteE&P players are on fire. Anyone want to take a stab at this move in WTI? I don't get it.
ReplyDeleteI can't believe I'm thinking this, but we should probably take a stab at BAC. $6 is the number everyone is watching, so maybe a quick stab below and we enter 5.90ish?
ReplyDeleteMark - it was a small position in JAG; I don't have enough confidence in ANY of these small-crap stocks to do much good. I should probably stop trying to play them and just stick to the 'usual suspects'.
ReplyDeleteDo have a small SCO though....
BAC - Grasso was talking about it quite a bit yday... http://twitter.com/#!/grassosteve
ReplyDeleteGrasso!! That dude has held all the way down. I give him credit though, he doesn't back away from it.
ReplyDeleteDo you like the quick spike down idea?
OK, my new line is 1230 in this recent trend.
ReplyDeleteBAC -- Mark, it's 10:15 and it has already traded 45M shares. Looks like an HFT target. As Vad would say, 'I don't want to be in the middle of that battle...'
ReplyDeleteBAC is probably a good buy here, but I think you will need to have patience. Every time they seem to get things going, they get sued or have a ruling go against them. Having said they, their earning power is strong and they are making money in 5 of their 6 divisions. They still can bankrupt Countrywide independently if they need to.
ReplyDeleteIf I did not already have so many financials, I would take a serious look at it. There are also TARP warrants (2019 I believe with adjustment for dividend to the common) which give some leverage to this if you want.
Interesting that WTI is rocking wherease Brent is down. Probably just some traders taking off their spread plays. I think WTI ahs been too low for months and just playing catchup.
ReplyDeletePlus, gold getting hammered today and oil generally goes in the same direction.
When I look at that gold chart, I sure am tempted to put some shorts on. Could just be people selling in sympathy with Paulson today, but the chart sure has the look of something that has peaked out (to me, and I am not the chart expert here).
AUMN - Bidding here at $7.05
ReplyDeleteWTIC - Is the high price about tension between Israel and Iran?
ReplyDeleteMark - econ data in US is picking up so I would think long BAC would work. I wouldn't be shocked if we start seeing a bit of an uptick in housing soon.
ReplyDeleteCrude oil futures are showing gains today following news that Enbridge and Enterprise Products have agreed to reverse the direction of crude oil flows on the Seaway pipeline to enable oil it to transport oil from Cushing, Oklahoma to the U.S. Gulf Coast.
ReplyDeleteCrude oil rose as high as $102.13/barrel on this news, but was back at around $101.30, up 1.9%, just ahead of crude inventory figures. Following the data, which showed a draw of 1.1 million barrels versus consensus which called for a draw of 1.2 million barrels, crude pulled back modestly and is now trading 2.1% higher at $101.40/barrel.
Kyle- Yeah, that's why I was thinking a quick drop down.
ReplyDeleteCatch you guys in a few.
I bought some more NOIZ today at $7.1 avg. Now holding about 13k shs. I really like this one and think it's only a matter of time before it's up to the high teens. Their EPS are actually higher than CVV and growing faster than CVV.
ReplyDeleteTZA @ 29.27
ReplyDeleteOff at 29.05...
ReplyDeleteAdded some XWES at $3.5. Again, its the eBay of energy. Solid steady growth, 80% margins, should do about $.17 EPS this year and double that next year (they projected 40 to 60% rev growth and even higher earnings growth). They are basically revolutionizing the way companies purchase energy. Typically, companies with relatively fixed overhead costs, high margins, solid/rapid growth, and a huge addressable market trade at 40+ times EPS. This is trading at about 20 times.
ReplyDeleteThanks Kyle. Good find.
ReplyDeletePicked up a little BAC @v 6.05 > If any stock fits the description of beaten up and battered, this has to be the one I would pick if we're talking about the DJIA.
ReplyDeleteFor a trade only.
ReplyDeleteBB - One of the pages I keep up throughout the day is
ReplyDeletehttp://finance.yahoo.com/marketupdate/update
It's not as prompt as tradethenews.com , but it's free!!!!
Check out AIS fellas....great chart with breakout today
ReplyDeleteT3d -- interesting data about shipping! Declining shipping rates have to be very positive for the world trade, right? We can even look at it as a major improvement in the world's *infrastructure*, which should be very stimulative for the world's economy, Asian in particular.
ReplyDeleteAdded another 2,500 shs at $7.1 for NOIZ.
ReplyDeleteHow about that for a shakeout in NLS david? We're back up over $2 again and in my opinion, much higher going forward.
ReplyDeleteTOF -- I was just about to post that about NLS. :) Looks like Craig was right -- the drop was just a trend knockout move. I will try holding the 3000 shares I picked up during earnings at $1.90 for 1 year and will see how much long-term profit I can get from them...
ReplyDeleteIncidentally, my buy limit order for 10 AUMN January $5 calls at $2.40 was hit today. I have accumulated WAY too much AUMN calls recently. It may all end well if AUMN starts to rocket higher soon, but if PM's stay in the dumpster for 6 more months, then I will get in trouble with those calls...
ReplyDeleteFolks, it looks like NOW is the time. The flag formation on S&P futures I posted about last night has narrowed to the intraday formation: higher lows and lower highs over the past 24 hrs have converged to a single point at 1250, which is where we are now. I am very curious to see whether a move from this point will sustain itself for days.
ReplyDeleteA break to the upside will happen with futures rising above 1255 and to the downside with them falling below 1247.
ReplyDelete1257 is 'flat-on-year' and has been a key pivot point recently
ReplyDeleteDavid - Against all odds and rationality, we're going higher.
ReplyDeleteHere we go, folks -- looks like the break is happening to the upside...
ReplyDelete"Against all odds and rationality, we're going higher."
In the past, all major moves were "against the odds", so a major move up might very well happen now...
By this logic, unfortunately, as long as I am expecting AUMN and TBT to zoom up, they ain't gonna move...
ReplyDeleteBut if S&P is staging a real breakout now, then it should at least pull up TBT with it...
ReplyDeleteHey David, the President is trying to help you with AUMN!
ReplyDeletehttp://www.bloomberg.com/news/2011-11-16/u-s-marines-to-be-stationed-in-australia-under-obama-gillard-defense-pact.html
In TBT at 19.59 as a trade.
ReplyDeleteRATE triggered at 20.25. I front ran it a bit so looking good.
I think we see GMCR bounce quite a bit but I'm using JVA as the proxy.
I like TASR (OWS demand?) just joking!
PNPFF getting ready to trigger, has been strong in recent weakness.
"Obama arrived in Canberra yesterday on his first visit to Australia as president, part of a nine-day trip that highlights the shift of U.S. economic and military focus to the Asia- Pacific region as it winds down the wars in Iraq and Afghanistan. The troops will be deployed on a six-month rotation, starting with 250 personnel and eventually expanding to as many as 2,500, Gillard said."
ReplyDeleteAnd we naively thought Obama was a pacifist and will stop the waste of money by US military... Well, Hussman said many times that unproductive government use of resources is what drives inflation in the long term, so the case for PMs just got a little stronger. :)
Speaking about the breakout happening NOW, wasn't it a good guess on my part half an hour ago? :)
ReplyDeleteProbably a mistake, but I'm cashing in MDW here @ 2.22. I've been up or down $2K on this thing for a couple of weeks now. I'll exit up this time.
ReplyDeleteS&P is green and TBT is green too -- yay!
ReplyDelete"the case for PMs just got a little stronger."
ReplyDeleteIt certainly doesn't hurt the case, especially if it's pure waste.
MDW - Yep, I'd take that gain too, and wait to see the reaction to the 200SMA/50SMA crossover
CP- Yeah, I was getting tired of banging around in that channel.
ReplyDeleteMan, this volatility is driving me nuts! Looks like we have a few more days to wobble around the 1250 level...
ReplyDeleteI have to believe oil drillers have hired lobbyists to ensure the EPA stays out of their way:
ReplyDeletehttp://www.reuters.com/article/2011/11/06/idUS375448304420111106
NLS is back to the dumpster as well...
ReplyDeleteA European banker quits and the market falls apart - no surprise there. Some day, business success will be more important than politics again.
ReplyDeleteFrom Seeking Alpha at 3:11: Antonio Borges, the chief of the European Department of the IMF, has resigned from the post for personal reasons.
"Looks like we have a few more days to wobble around the 1250 level... "
ReplyDeleteYeah, I'm going to short the pee out of something if SPY pole-vaults into the 1300's.
nasty turnaround today.
ReplyDeleteNow Fitch piling on saying the Euro-zone poses US bank contagion risk.
ReplyDeleteBB - Classic comment out of them: if Europe has problems then the US banks will have problems. Umm...no shit.
ReplyDeleteBut seriously, I think the US drives the majority of world markets, which is why I think we will be able to skate through this nonsense relatively unscathed. I think we won't go into a recession for two main reasons:
(1) Almost all recessions are created / worsened by downturns in housing (one of the few exceptions was 2001, which was caused by a huge bubble in tech)...housing is basically completely in the dumps and really can't crash from here because the volumes in houses sold is so low right now.
(2) Almost every corporation is prepared for a weak economy. The only other cause for recessions is when corps aren't prepared (i.e., overleveraged).
So if we drop I guarantee we will rebound VERY quickly. I'd rather keep an eye on stocks holding in during selloffs and buy them on overall market weakness. But I would also rather keep a time horizon of more than a week/month.
WNR - Look out below......
ReplyDeleteWNR - At first glance, I've got a target of ~$11
ReplyDeleteAre Co's like MITK/FIO telling us a top is in?
ReplyDelete1230 or bust :(
If I use my favorite charting site
ReplyDeletehttp://www.forexpros.com/indices/us-spx-500-futures-advanced-chart
and zoom out to 5 hour samples on S&P futures, then I see that today's drop is still within the larger symmetrical flag being formed on S&P futures. A break below 1220, however, would violate that flag and could spell a drop to 1150...
I don't think you can tell from MITK. It's the same type of situation as GMCR, a high flyer with huge run-ups and then the market starts to move or sector rotation kicks in and they become a source for funds via profit taking. Just wait until aapl gains downside mo. Now THAT will be a short.
ReplyDeleteDavid...adding TBT AH?
Man, if MITK's wedge resolves itself to the down side, which it should, mommy......
ReplyDeleteCC- I was commenting on the offer FIO made today. Spokey similar to MITK's.
ReplyDeleteAs a preparation for years of "break even" existence (after losing all my money in the stock market) and as a preview of coming attractions, I just treated myself to a 750ml bottle of New Amsterdam gin, which I bought at CVS for ... eight bucks!(after a $2 coupon that was attached to the bottle).
ReplyDeleteActually, I already did a blind comparison of this gin with the leading Bombay Saphire gin, and found the New Amsterdam to be smoother and more pleasant. The herbs in that gin make it much more pleasant than plain vodka. That's what I'll be drinking from now on, for $8 per 750ml bottle. Isn't it great to be poor? :)
Clear Cut -- I am running out of my buying power again, and so I'll just keep my buy limit for 200 shares of TBT at $18.50. If this limit order doesn't get executed tomorrow, then there is still hope for my overleveraged portfolio. :)
ReplyDeleteLooking on the bright side of things, after today's reversal fewer sellers are left in the market, and so one has to become correspondingly more bullish.
ReplyDeleteDavid- A few years ago I tried a 'recession vodka'. Didn't even make it one night. Went back to the store for my beloved Stoli.
ReplyDeleteANF. Wow.
ReplyDeleteI like Rum.
ReplyDeleteThere are no budget rums unless you count lighter fluid. Either I drink good rum or I drink beer.
Lighter fluid - Hey, why not skip the mundane la-de-da consumer-grade acetone and put some pep in your step with methylethylketone and a splash of trichloroethylene or carbon tetrachloride for flavor?
ReplyDeleteugly day,
ReplyDeletebot 200 SSO at 25.20 near the close
bot 3 JAN 124 calls at 6.05
The Jan 121/124 spy strange is down about $230 in total today.
bot 200 HES at $63.73 earlier in the day.
I must be getting bullish. Maybe the big drop is around the corner. I did the same thing back in 2008 on the way down around DOW 11,000 or so.
On natty, physical for tomorrows flow date, we call that "cash", Hub averaged 3.1129 on ICE. I think the screen was green during most of that trading too.
ReplyDeleteThe bal mo was 2.95 and Dec11 was 3.348, I think this was around 2:30 CT this afternoon.
AUMN - Too bad I canceled that $7.05 order when AUMN took off and looked like it wasn't coming back, it would'a filled...
ReplyDeleteExited BAC @ 5.935 after hours.
ReplyDeleteWTIC - I see now, the pipeline reversal unlocks the captured market and the spread with BRENT narrowed as a result.
ReplyDeleteMU and RBUS ruling today...