Tag Archive for 'AA'

And they’re off…

Published on July 12, 2010, 10:31 pm in Charts and Trading. Closed Tags: , , , .

This market could not make up it’s mind on what direction to go. Maybe it was just waiting for the earnings reports this evening. There must have been a lot of people waiting because nobody was trading….volume pathetic again. Options Expiration week….hours of boredom….with minutes of panic and/or excitment thrown in!

Earnings season looks like it may be just what the bulls were waiting for. AA CSX and NVLS all came in with better-than-expected results and the S&P futures were taking off before they closed at 4:15 PM EDT. And later on this evening, it looks as if they would like to continue their move up. Of course there is still 11 hours before Tuesday’s open.

Speaking of AA, it’s been going down ever since the last earnings report 3 months ago.

So does it go up for 3 months now?

It would be nice if the markets tomorrow just continue up in a nice-n-easy manner, slow but steady. What I would not like to see is a gap-n-crap in a wild opex kind of way….but, then again, it is opex week. :mrgreen:

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Kickoff time

Published on July 11, 2010, 11:21 pm in Trading. Closed Tags: , , , , .

AA will kickoff earnings season on Monday after the close, and then we got some biggies the rest of the week: INTC GOOG JPM GE BAC C. Earnings for the 2nd quarter should be good, but it will be the guidance for the 3rd quarter and 2nd half that will control the market direction.

Futures this evening have been quiet with no volume….Asia still waking up….have to wait for Europe to kick it in the ass.

Only 3.6 billion shares changed hands on the NYSE tape on Friday….not much. This is definitely a contributing factor: Small Investors Flee Stocks, Changing Market Dynamics.

Guess I should rest up for the morning. 8O

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The show has started

Published on April 12, 2010, 10:14 pm in Tools and Trading. Closed Tags: , , , .

Earnings season had its opening pitch today from AA…and boy did it suck. Not really that bad, but the hype and anticipation had traders looking for more….and they’ve just got to be disappointed in the morning. Tuesday will bring more reports to light including CSX and INTC among others.

Monday continues its pattern of being a green day… it’s been an up day 28 of last 32 Mondays!

The S&P 500 has risen on Monday 80 percent the time during the past six months, compared with 52 percent for Friday, Bespoke said. It averaged gains of 0.17 percent and 0.05 percent on Tuesday and Wednesday, respectively, and a loss of 0.04 percent on Thursday.

Read the whole story at Bloomberg.

And speaking of patterns, VIX now below the 2008 intraday low, which was the start of a 15% correction. The last time it closed this low was July 2007 which was the top before a 9% correction to the S&P. Just a little nudge for you to be careful out there. Here’s more info on the VIX from TraderFeed and the Daily Options Report.

I misspoke in my Saturday entry when I stated I was long/short at 35/65%. It is true but it looked like I was 100% invested. I should have pointed out I was 55% in cash. So a truer picture would have been a cash/long/short positions of 55/15/30%.

Either way I’ve been waiting for even a slight correction to cash the shorts, but now I’m thinking it may be a bit more than slight. Will AA earnings start the ball rolling down? Maybe INTC gives it another nudge down? I’m thinking even good reports, unless they’re blowout great, markets will sell the news. Wait and see.

Futures this evening are heading down, as are Asian markets. You can check the futures market here. So for now I’m content to have cash as my largest position. It would be good to have some resolution with a big volume move…in either direction. Volume continues to make new record lows. Sure would be nice to have more traders around. :D

P.S. I haven’t been updating the old blog over the weekend, mainly because this cold keeps me drowsy and lazy. So make sure this URL: http://wtftrading.com is your main link! And update your RSS feeds.

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