Trading thoughts, ideas, tips, musings, and pontifications. . .not necessarily in that order.
I’d have to say the markets had a bad day! It looked very promising with the major indexes up by more than 1%. But traders sure didn’t like the FOMC announcement at 2:15PM. Indexes deteriorated as an initial reaction and continued down. There was a small pop going into the close, but basically a bad day.
So tomorrow we’ll be halfway thru this Opex week. With December OpEx week being up 22 of the last 27 years, there’s a lot of points to make up.
Those damn rating agencies screwed with the markets again. So it was a down day…no particular reason…just no economic reports and plenty of agency innuendoes. I sat and watched, looking for a good entry, either long or short, but came up with nothing. What a boring day! Thirteen more trading days of this and we can start a new year!
Ok, so all OpEx weeks are crazy, but now we add in a FOMC meeting! This should get real wild, no?
According to the Stock Trader’s Almanac, December OpEx week, S&P up 22 of the last 27 years. Looking good.
“One of the holiday decorations at the White House is a 400-pound gingerbread house. Isn’t that nice? And in front of that is a 400-pound ginger bread ‘foreclosed’ sign.” — Conan O’Brien
Notable Notes and Quotable Quotes
Many Workers in Public Sector Retiring Sooner. That’s one way to slim down government.
Ouch! How Small Investors Can Get Stomped
DeMark reports ‘strongest short-term buy signal’ in 40 years!! WOW!
“It is the holiday season over at the White House. The theme for this year’s Christmas is ‘Shine, Give, Share.’ While rumor is, the theme of next year’s White House Christmas will be ‘Clean, Pack, Move.’” — Jimmy Fallon
Although US economic news was good, the Eurozone prevailed. Funny how that works. They have no control over their finances, but they have control over Wall St. WTF!!?
It was rollover day for the index futures so I only traded my simulated account…and boy did I do well! Of course, when there is no chance of losing money, it’s very easy to trade!
Yes, it’s time again to rollover those futures contracts. The Equity Indices: TF, ES, NQ, EMD and YM roll on Thursday at the open from the December 2011 contract to the March 2012 contract. The month code for March is ‘H’. So tomorrow and Friday will be a little rocky as traders move their positions. You can trade the ‘Z’ contracts through next Thursday, but by the end of the day tomorrow, the volume will move to the ‘H’ contract.
Today was a crappy day until the end when indexes moved up to their high of day. Seems like the bulls want to be Santa Claus!
After a trend up morning for the indexes, Standard and Poors decided to throw a wet blanket on the markets by insinuating that it was going to downgrade Europe. Gee, there must be problems in euro-land. Whu da thunk it!
Asian markets are opening to the downside and European markets for sure will be facing a down day on Tuesday.
“President Obama will attend three fundraisers in New York City tomorrow to raise money for his re-election campaign. Seriously? How about holding a fundraiser to raise money for the United States?” — Jimmy Fallon
One Quarter of US Mortgages Are Underwater. Ouch!!
Is it happening here also? Trading automation is ‘strangling’ small caps.
The asses are outmaneuvering the elephants! Democrats See an Advantage in Debate Over Payroll Tax
Same old, same old. Just Calm Down, Or Is It Really Different This Time?
Get into the Christmas spirit! Larry the Cable Guy & his Christmas Story
Much of the social history of the Western world over the past three decades has involved replacing what worked with what sounded good. -– Thomas Sowell
Looks a lot like the NFP report numbers were already baked in to the market. A nice gap up in the morning, but it dwindled all day. I think people were happy that the unemplument rate had dropped to 8.6%, but they then figured it wasn’t because employment was up, but because discouraged workers were leaving the work force. All those workers who have run out of unemployment compensation were now no longer “unemployed.” WTF!
Oh well…a pretty slow market today for it being an NFP day. Volume was down as was the volatility. Have a great weekend everybody 
| INDU | 0.00 | |||||||
| NASDAQ | 2778.79 | |||||||
| S&P 500 | 1295.22 | |||||||
| ^RUT | 747.21 | |||||||
| QID | 36.77 | |||||||
| QQQ | 60.81 | |||||||
| QLD | 47.97 | |||||||
| TZA | 23.3101 | |||||||
| SSO | 49.32 | |||||||
| SDS | 17.5687 | |||||||
| BGZ | 25.33 | |||||||
| BGU | 66.43 | |||||||
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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