Tag Archive for 'CNBC'

Rest in Peace

Published on May 25, 2011, 10:14 pm in Opinions and Trading. Closed Tags: , , , .

Mark Haines dies at age 65. Prayers to him and his family. The world responded as when any icon passes away. I’ve watched him for may many years….about 15. It really is a personal loss for many viewers.

The markets started negative but were able recover to stop from having 4 negative days in a row. Looking a lot like a short term bounce here. Markets usually have a positive bent leading up to a patriotic holiday. Since this is the first summer holiday, I think volume should go downhill from here. ES traded 2.1 million contracts today.

We have GDP and Jobless Claims reports on Thrusday which may just set a tone for the market. Pending Home Sales and Personal Income and Spending on Friday….with really low volume. Futures are up, so far, this evening.

We have met the enemy, and they are us. –Pogo

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The World Is Not Enough….

Published on November 14, 2010, 3:55 pm in Trading. Closed Tags: , , .

…or so it seems. The world has weighed in on the Fed’s decision to print money…and they so “no” or “stupid” or “currency manipulator!” So what does the Fed do on Friday? Print a bunch of money…with some technical difficulties. But it was not enough to move the markets up. And we have more and more printing to come: Treasury Operation Schedule.

Oh! And here’s a funny, but realistic explanation of all this: Everything you wanted to know about QE2: Quantitative Easing Explained!

But sure, there’s more going on…Chinese stocks drop on fears of tightening, the opposite of the U.S. And concerns of a Irish default and Euro debt contagion also contributes to the weakness. And since stocks were down on Friday, guess who was on CNBC? …you’re right, the perma-bear, Nouriel Roubini! But if the weekend passes without China upping the rates, we should have a nice rally on Monday.

We’ll see…but for your listening enjoyment: The World Is Not Enough. :mrgreen:

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Hump Day

Published on October 13, 2010, 9:32 pm in Opinions and Trading. Closed Tags: , , , , , , , , , , .

The sun rose this morning … INTC did what it always does…drop after earnings. AAPL held on to 300 barely, and I added to my short positions via SDS QID and VXX … so it was a slow day. I also took profits on C calls and DRYS calls I’ve been holding for months.

So why did the markets go up today? INTC had a good report…but INTC didn’t go up. JPM had a good report…but JPM did not go up. I guess it must be AAPL…as goes AAPL so goes the market? I did see a report today that AAPL’s weighting is two-thirds of the QQQQ. The markets were cut in half from the highs today…so does that mean something? I’m not sure, but I am now net short and will continue to take profits in the longs that I have remaining…if they show themselves.

Now that AAPL hit 300 I guess all the people on CNBC will be pumping $400 for a while. Of course it looks like it went down to $298 after hours. Speaking of which, the US Dollar continues to tank and Index futures are moving up this evening. Gold continues its trek to $1400 and the grains are moving up also.

I’m starting to feel queasy about this market….irrational exhuberence comes to mind. If all these companies are doing so well, why is the economy still in the gutter? There’s a correction coming, I just don’t know if it’s sooner or later.

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The things I say after a few beers…

Published on June 25, 2010, 7:34 pm in Opinions, reading and Trading. Closed Tags: , .

I’m getting more and more bullish just because CNBC is getting more and more anti-bullish…a great contrarian indicator. :) Yes today’s market didn’t do anything great, but it also didn’t do anything terrible. I need to go through the charts this weekend, but I think we may be in for a decent bounce. Where it will lead I do not know….but I’m looking for more up than down.

Here’s some news I picked up on during the day:

Now, it’s time for me to get on a soapbox…..today’s FinReg bill (and also going back to that ugly Healthcare bill), is total bullshit! And I’m more pissed at healthcare because I got my new invoice for my medical insurance. I used to pay $1500 per month for my wife and I. The new bill is $4200….yes per month! Yes, a 300% increase. The excuse is that we turned 55 years old this year! Fuck you Medco Health! So I went looking for another provider. Their quote was $8500. I thought great…yeah…per year. Uh, excuse me…that’s per month! $8500 per month?? Fuck you!

Since they “fixed” the credit card system last year, my interest rate on my credit cards has doubled and a few have been closed. What the $%@&*! Y’know, I didn’t vote for BO because I knew he didn’t know shit and had no experience to run any business, much less the United States. But I never thought it would get this bad! I can’t wait for 2012. At least I can vote out some of his asshole buddies in congress in a couple of months!

I digress. 8O

Have a great weekend :!:

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