Monthly Archive for July, 2011

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Nothing

Published on July 20, 2011, 11:20 pm in Trading. Closed Tags: , .

Nothing happened today…the markets ended where they started. Some good earnings reports, some not so good…traders just didn’t know which way to go. Or maybe they weren’t around at all. Volume was low.

I continue to trade small positions, not very often. I guess I’m contributing to the low volume. On the other hand, I’m getting a lot of projects completed around the office. Trading-wise, this has to be one of the slowest seasons I have endured…so far at least!

AAPL-tini

Published on July 19, 2011, 11:08 pm in Trading. Closed Tags: , , , .

Appletinis all around! Woot, woot! Smash that glass against the markets…what a killer report AAPL came out with afterhours on Tuesday. Will today’s climb continue on Wednesday?

The markets ignored lousy reports from GS and BAC. The bulls wanted to run and nothing was going to stop them. They were fueled not only from IBM’s good report last night, but also very encouraging housing data this morning. And there’s more Home Sales news on Wednesday morning. Gold did sneak back under 1600…maybe a little farther down? And don’t forget silver.

Thinking it’s time for some slow grinding up…or maybe some down…or maybe just some consolidation. We are getting into the “meat” of the summer season. Got to get those vacations done before the kids have to get back to school. Everyday an adventure. That’s why we trade!

Goldfinger!

Published on July 18, 2011, 11:19 pm in Trading. Closed Tags: , , , , , .

Gold finally makes it over $1600 mark…now to see if it continues up from here. The markets went in the other direction with gusto. The NYSE Advance/Decline volume was over -10:1 for the bears. The S&P and the Dow, did recover half of its morning losses by the end of the day. The Nasdaq looked strong in the afternoon…maybe in anticipation of IBM earnings…but there was no stopping AAPL! Wow if really took off.

Still a very crazy market…up and down. Remember,

Better to be in cash wishing you were in the market than to be in the market wishing you were in cash!

Be careful out there.

Weekend Reading 7/16/11

Published on July 16, 2011, 8:31 pm in reading. Closed

“Casey Anthony was found not guilty. This means that President Obama’s economic team is only the second-most clueless group in America.” — Jay Leno

Economic outlook grim if no debt deal reached. Oh really?

Interesting discussion: Have American Businesses Been Stranded By the MBAs?

…or maybe their sports teams? Did CEO’s Hockey Obsession Doom RIMM?

Was this guy a CEO? Man wins right to wear colander in license! WTF!

But how else can I trade? How The Internet Is Killing The Planet.

Some words of wisdom from MissTrade: 4 Types of Trades.

Go ahead…Call Obama’s bluff!

Dinner Table Inflation Up Almost 5 Percent in One Year! Remember, as long as you don’t eat or drive, prices are stable…duh!

“Democrats warned that if the debt ceiling isn’t raised, the government would cease to function. How would you be able to tell?” — Jay Leno

Tech / Geek / Nerd stuff

Published on July 15, 2011, 10:11 pm in Tools. Closed Tags: .

Since WTFtrading.com launched back in January 2008, I’ve learned a lot about software, hardware, programming, customer support and the list goes on and on and on. I have also come to realize that my site is becoming painfully harder to manage and update. It’s not because I don’t have the time or skills, but because when I first started building the site I didn’t plan anything. Images and text where thrown into one folder and some in another, pages where on the root and others in folders 2 or 3 deep. And then, I moved the entire site from its birth site to its own domain name.

A page addition or update that should only take minutes was easily taking an hour or more. So I have decided to redesign the entire site, front to back, top to bottom. I have already begun researching other web sites for style and functional design, looking over templates and learning even more about programming in C# and ASP.Net, and also looking at some content management systems (CMS).

I want the new site to have not only a new look and feel, but a complete overhaul of the directory structure and coding. It will probably be a while before I launch the new site. I want to make sure that I get everything 100% this time before launch.

I just wanted to get this out there, because now that I have told everyone, I will need to follow through and git ‘er done! Until then I will continue working and posting to this site. Please let me know your likes, dislikes and thoughts. Happy trading!

Crazy OpEx Action

Published on July 14, 2011, 11:42 pm in Trading. Closed Tags: , .

I’ve learned to trade lightly during OpEx week and stay away from trading on Friday. I also haven’t had much luck with Thursday’s of OpEx, but today was OK. A couple of TF trades that hit according to plan. So I’m doubly giddy because I followed my plan AND I made money…yippee :!:

But, that was all in the early morning…and like yesterday when Uncle Ben helped the market move up, today he removed the foot from his mouth and spoke clearly that the Fed wasn’t going to start up QE3 anytime soon. Traders disappointment started when Ben started talking and lasted all day. The down days still have the higher volume :-(

Options expiration…here we come. Be careful out there!

My friend Ben

Published on July 13, 2011, 11:39 pm in Tools and Trading. Closed

Wasn’t that nice of him to float a QE3 bost? The markets sure liked it…for a while. And look at those commodities. Gold bugs are looking at 1600 now.

And again there is a selloff into the close. I’ve learned my lesson…go light during OpEx! Be careful out there and happy trading.

P.S. Hoping you’re getting to the site alright….having a few issues and don’t know if it’s the website or the ISP.

Bend over

Published on July 12, 2011, 10:09 pm in Trading. Closed Tags: , .

Euro really sunk (stunk) overnight as the euro problems moved from Greece to Italy. Italy’s GDP is 6 times bigger than Greece’s, so bailing them out would take a lot more euros…and dollars. Indexes just wobbled for most of the day until rumors of QE3 and an end to the Libya problems sent the markets running up….bolstered with a successful Italin bond auction. But it didn’t last long. After making a new high of day about 90 minutes before the close, and Moody’s downgrade if Ireland’s bonds, it all went to hell in a handbasket! Sure it didn’t go back to the overnight lows, but definitely lower than the breakeven area the markets loved all day.

Sure the day closed ominously, but this is opex week and markets are geared to screw both the bulls and the bears. They definitely felt it in the rear today!

…Easy go

Published on July 11, 2011, 9:55 pm in Trading. Closed Tags: .

All the July gains disappeared today…One of the ugliest market days I’ve seen. The NYSE A/D volume was -30:1 and TRIN was 5.07 …yes ugly, but now, all extremely bullish readings! On the TRIN, or The Arms Index, it says a close over 2.0 results in bounce next day 9 times out of 10. No bounce? Market in trouble. Remember though, it is options expiration week!

Futures are continuing the drop in the early overnight session…uh oh!

Weekend Reading 7/9/11

Published on July 9, 2011, 7:26 pm in reading. Closed

Latin derivation of the word “Politics?” “Poli” meaning many and “tics” meaning bloodsuckers!

Finger Length Linked to Penis Size. What about fat fingers?

The customer is always right? Deflecting Bullets.

There’s no way anyone can spin this report to the good side. Overly Optimistic, Once Again…. and more…The Worst Part of Today’s Horrible Jobs Report… and more..U.S. Payrolls Grow at Slowest Pace in Nine Months as Jobless Rate Climbs.

Are you still looking at your fingers? Relax….Jet Powered Beer Cooler.

“Anthony Weiner is reportedly involved in choosing his successor. The first question he asked his potential replacements is, ‘What’s the difference between ‘reply’ and ‘reply all?” — Conan O’Brien