Tag Archive for 'BGU'

5 more days

Published on September 23, 2010, 11:40 pm in Trading. Closed Tags: , , , , , , , , .

Yeppers! Only 5 more trading days left in September. That means the 4th quarter starts a week from tomorrow. Have you started your Christmas shopping yet? Well, fund and money managers will need some money to start so watch for a lot of window dressing in the week to come.

My late day yesterday and pre-market oil plays worked out well today. Still holding on to some USO calls and a couple shares of UCO.

I won’t harp on volume …I guess the “new normal” average volume is not about 10-20% less than what I always thought was average volume.

I’m not sure if we have had enough of a pullback….I think so. The S&P, along with the SPY, did close below the August highs. We’ll have to see on Friday if we pop back up through or feel around in the gutter for more. If we do get a down opening, I’ll look to nibble on some Bull ETFs like SPY SSO TNA BGU and the like. Watch out for 2 reports Friday morning: Durable Goods and New Home Sales.

“The National Bureau of Economic Research announced the recession actually ended in 2009. What idiots we were! So that recession you think you’re in, that’s as imaginary as the job you used to have.”

“What they don’t tell you, the next recession started in July of last year.” – Jay Leno

Another yuck!

Published on August 19, 2010, 10:39 pm in Trading. Closed Tags: , .

Well what do you expect when you get bitch-slapped 3 times real hard in a matter of 90 minutes. Jobless claims, Philly Fed and Leading indicators were rough, like wiping with sandpaper! 8O

Reading market analysts and blogs this evening was like watching a tennis match…I can’t tell if this is the begining of the end, or the end of the beginning. Is this the start of a larger run down, or a selloff before the run-up?

I played the countertrend today with entries and exits in BGU and SSO…just some scalps, but did end the day buying a quarter position in BGU at 43.77 which was green by the close of afterhours trading. Since the market hurt all the bulls today, it probably wants to hurt the bears on Friday.

Today’s volume was the highest of the week and the Advance/Decline Volume was very negative at -12:1. No news on Friday so it’s all up to OpEx Friday to drum up the business. Maybe a few more M&A announcements can get the bulls all riled. :mrgreen: