Trading thoughts, ideas, tips, musings, and pontifications. . .not necessarily in that order.
Yesterday may have been questionable. but that is a real statement today by the indexes!! Dow over 12K and many indexes up over 10% in just 3 days!! Good job bulls!
Although Europe is a mess, China is being proactive reducing rates and the economic news in the US is great…and there is a lot more news to come over the next 2 days. Here Comes Santa Claus!
We definitely had an up day on Monday, but Tuesday was questionable…a little up a little down, up, down, up. Markets actually did fairly well considering AMR bankruptcy, financials falling off, and lousy guidance from TIF….all on mediocre volume. Will a Santa Claus rally pull us into the next year? Realize that there are only 22 more trading days this year! How was your trading year?
“The Republican presidential candidates held a debate in Michigan. Just what Michigan needs: 12 more people looking for a job.” — Conan O’Brien
Recession? What recession? Black Friday retail sales hit record
Occupy what? Pre-Occupied.
Throw them all out! Murky Signals for Congress on Insider Trading
Oh really? C’mon… Some News Leaves People Knowing Less
“The difference between genius and stupidity is that genius has its limits.” – Albert Einstein
There was a short session today, and while we were up most of the morning, the indexes sold off hard going into the close. I believe this is the worst Thanksgiving week ever!
First and foremost, I want to wish you and your family a very happy Thanksgiving. Enjoy and relax….you don’t have to trade every day!
Speaking of trading, The markets were ugly today….closing at the low of the day. I guess this holiday was not very inspiring for the traders. Maybe the short session on Friday will be a bit more positive. Happy Thanksgiving!
The US markets usually do pretty well leading up to a holiday, but your couldn’t tell from today’s action. Not even a good housing report and corporate deal making could help. Moody’s threatening to lower France’s credit rating and the ‘super-committee’ super fucking up was by far leading the markets downward!
We’ve still got two days and a half day on Friday to try to recover. Was this some of Opex’s leftovers, or are we really going to stink up our turkey? The bears are lining up for dinner.
“Occupy Wall Street protesters are planning to occupy the subway in New York City. Because if there’s one place to confront the nation’s wealthiest 1 percent, it’s the subway.” — Conan O’Brien
Take flight from Europe’s policy food fight. So what to do? We Gotta Get Out Of This Place!
Barack Obama circa 1991, when he was still learning how to use a telepromter.
A bull in heels? As women’s heels head lower, is the economy heading higher?
The United States of Europe? 2021: The New Europe
Are exchanges still needed? A market less efficient
Kindle-Phone? Amazon may be planning smartphone. I love my Windows Phone! Why Windows?
“The White House says there is no evidence at all that earth has been visited by aliens. Do you believe that? We can’t even find aliens sneaking across the border.” — Jay Leno
According to the Stock Trader’s Almanac, November expiration day, Dow up 7 of last 9…but not today! It was a mixed day, a little green, a little red.
It was a tough day for day-trading or scalping today, with no clear direction or advantage. I took a few trades on the simulator, but my “good” trades were break even. My plan says don’t trade on OpEx, and I followed my plan.
It was definitely an OpEx kinda day. This morning’s marketplace was very spastic… but not as crazy as the afternoon! It was up and down in a moment’s notice…making and losing money in seconds! 
As Keynes famously once said “The market can stay irrational longer than you can stay solvent”….and OpEx is anything but rational.
“To alcohol! The cause of, and solution to, all of life’s problems” – Homer Simpson
Yes, I mean those ‘motherly’ cuss words…but I’m actually talking about Moodys and Fitch, get it? Heehee!
Moody’s downgraded some German banks, so Fitch downgrades US banks with dealings in Europe. Is this really news? Didn’t everybody already know that? And why announce that in the middle of an options expiration week? WTF? News, made up or real, always trumps charts and indicators.
The Stock Trader’s Almanac says, “Week before Thanksgiving, Dow up 15 of last 18.” Let’s see what Thursday and Friday bring us.
I was trading ES today. It just doesn’t feel good when a retracement doesn’t come back to your buy point…missing by one tick and then takes off without you…mope, mope, mope. On the other hand it doesn’t feel as bad as when you chase it up and it goes against you. Patience is a virtue! Trade your plan and stick to it!
| INDU | 0.00 | |||||||
| NASDAQ | 2933.17 | |||||||
| S&P 500 | 1357.66 | |||||||
| ^RUT | 816.50 | |||||||
| QID | 34.81 | |||||||
| QQQ | 63.32 | |||||||
| QLD | 104.42 | |||||||
| TZA | 19.134 | |||||||
| SSO | 54.266 | |||||||
| SDS | 16.39 | |||||||
| BGZ | 22.71 | |||||||
| BGU | 77.73 | |||||||
Sometimes, entranced by the screens, watching equities, options and futures change colors, charts moving in a wave, and indicators pointing in every direction, I just have to scream....
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