Monthly Archive for August, 2011

Hurricane Rally

Published on August 29, 2011, 11:17 pm in Trading. Closed Tags: , , , .

Well, Irene was not as bad as the TV networks thought last week, and so, markets rallied today. There was some decent economic news and the VIX continued to give up ground. Overall, a win for the bulls…but on low volume.

It is a week leading up to a long holiday weekend. But there is also quite a bit of news this week…with a biggie on Friday!

Last year at this time…ala post Jackson Hole…we began a pretty big run up in the markets. Of course, there is no notice of QE coming on, so I’m not sure we can re-create the euphoria. But at least we can get happy and hope things will get better. Friday will be the big clue!

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Goodbye Irene

Published on August 28, 2011, 7:51 pm in Opinions and Trading. Closed

All weekend I heard about Irene, but all I could think of was the song from Dexy’s Midnight Runners, Come on Eileen. Don’t you just hate it when a tune gets stuck in your head? Anyways…it looks like the storm was not as bad as reporters were predicting….that’s a good thing. But still a lot of flooding and power outages. Good luck east coast!

Bernanke passed on giving out any information on quantitative easing…and then pointed to congress and the prez to spend anymore money. So he got out of that pretty easy.

As we close August, the US jobs report will be released at the end of next week. Key housing and manufacturing data will be coming out, along with FOMC minutes. Will traders be leaving early for a long, summer-ending weekend? Or will all this news make them stick around for some volatility?

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Weekend Reading 8/27/11

Published on August 27, 2011, 10:46 am in reading. Closed

“President Obama is enjoying the fun and sun in Martha’s Vineyard. It’s really sad when your SPF factor is higher than your approval rating.” — David Letterman

Bernanke’s Jackson Hole speech…The Near- and Longer-Term Prospects for the U.S. Economy and a blow by blow of Friday’s going-ons: Ben Bernanke Jackson Hole speech: as it happened.

As summer comes to an end…Stock Returns Around Labor Day.

Enjoy a longer life: Living to 100 and Beyond.

Looking ahead…What to do if the double dip is real?

The world is changing: Do More, Own Less: A Grand Theory of the Sharing Economy!

See if you match up to the phone you use…Android vs. iPhone: Battle of the Mobile Operating Systems.

Will the markets be open on Monday? NYSE Plans For Hurricane Irene. Does a Cat1 hurricane really deserve all this news coverage? Overdone!

I always take life with a grain of salt…..
         ……plus a slice of lemon…..
                 ……and a shot of tequila.

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What happened?

Published on August 25, 2011, 10:03 pm in Trading. Closed Tags: , .

The BAC / Buffet news looked like the markets would take off….but no. We opened at the high of day and then went down for the rest of the day.

Big speech on Friday!

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AAPL sauce

Published on August 24, 2011, 10:32 pm in Trading. Closed Tags: , , , .

Earlier this evening, news broke that Steve Jobs is stepping down as CEO of AAPL. It looks like he’ll stay on as chairman, but the stock sold off hard afterhours. It will be interesting to watch this over the next couple of days.

Indexes had a lacksidasical opening and chopped around breakeven until the last hour, when a push put them solidly in the plus column. Volume was less than impressive.

Gold bugs were squashed as margin calls went out on the biggest gold drop since 2008, sending the gold bugs scurrying for cash. Buyers of gold last week or even yesterday, are hurting today…bitch-slapped more like it!

Is it Friday yet? With only 2 days remaining until the highly anticipated Jackson Hole speech, it seems that investors have grown weary of waiting. Is everyone expecting a QE3 type speech?

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Double bottom?

Published on August 23, 2011, 11:40 pm in Trading. Closed Tags: , , , .

Looking like the market has created a ‘W’…but we need follow through and then breakthru that 1200 region in the S&P.

Although housing data wasn’t that good today, China’s PMI was good. Asian markets and the Eurozone lead us into a a very up day. Neither hurricanes, earthquakes nor Greenspan could stop the bulls. Volume was decent for a late summer rally.

Fat Bottomed Stocks make the world go round!

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Monday Monday

Published on August 22, 2011, 10:53 pm in Trading. Closed Tags: , .

Oh Monday morning, you gave me no warning of what was to be… It started so nice at the open, at the highs of the day, but it was all downhill after that. The indexes closed back at breakeven…or thereabouts!

Looks like all the market moving news will be coming from Asia or Europe…until Friday…when Ben Bernanke will give a speech from Ass Jackson Hole, Wyoming. Traders are expecting another QE launch, like last year. So we sit and wait.

Wow, gold $1900! Does it feel toppy yet? GS Blankfein hires a high-powered defense attorney…uh oh! Did you see GS dive near the end of day? Seems like all that matters is news and rumors. :cry:

“Obama said the housing market may not pick up again for another year or longer. On the bright side, President Obama now has nine people interested in his house.” — Conan O’Brien

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Weekend Reading 8/20/11

Published on August 20, 2011, 1:10 pm in reading. Closed

“Congress is now appointing a debt committee to deal with the debt. I thought Congress was the debt committee. Aren’t they the ones who put us in debt?” — Jay Leno

Accomplices? Is the SEC Covering Up Wall Street Crimes? But they’re trying so hard…Cloak Comes Off Biggest Stock Traders in SEC Monitoring Mandate.

Global Recession Increasingly A Risk, say economists … but can you really trust an economist?

The market hates tech, but Mr. Andreesen gives a good accounting of the software industry: Why Software Is Eating The World.

Does this mean we have 59 states? Payrolls Increased in 31 States in July, but Jobless Rate Rose in 28, New Data Shows.

Traders show a lot of fear….Stock markets face three faces of fear.

Things AAPL is worth more than! I want to meet the guy who counted all the bricks in the Great Wall!

Here it comes…Threat of Stagflation Looms as Prices Rise Despite Bad Economy.

Hey if you’re not too busy this weekend, could you run over to Feed the Bull and put in a review of this site? Good or bad, it’s ok…I can’t fix it if I don’t know what’s broke! Compliments are accepted also! 8)

“President Obama is touring the country in a bus, because nothing inspires hope in the economy like the president riding in a bus.” — Jimmy Kimmel

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Oh No! Not Again!

Published on August 18, 2011, 8:21 am in Trading. Closed Tags: , .

I woke up this morning with futures already down 2%+….shades of the last 2 weeks. Of course, it is OpEx week and that’s what is supposed to happen. I’m just surprised at the size of the range.

Europe is still the biggest pain in the news…so until that is resolved…or something else comes along, we will have to listen to this crap….and trade through it!

I live in my own little world. But it’s OK. They know me here.

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Up, down and around

Published on August 17, 2011, 12:07 am in Trading. Closed Tags: , , , .

It was a day that accomodated the bulls as well as the bears….and a great day if you go both ways! Volume increased a bit from yesterday, about a half-million contracts in the ES.

While economic news in the US was good, Europe continues to be a world-wide downer. So if Europe could get its sh!t together, I think we could be doing a lot better.

It still is options expiration week….a week designed to take as much money from as many people as money managers can. Watch those puts and calls!

Remember, after Monday and Tuesday even the calendar says W T F . . .

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