Trading thoughts, ideas, tips, musings, and pontifications. . .not necessarily in that order.
The US dollar was having a tough time while the US markets were closed….on the other hand the S&P futures sure are having fun. It’s Monday evening and ES is reaching a new high of the session. Sure we’ve got a lot of time before the cash open, but a trader can dream, can’t he?
Hope everyone had a fun long weekend…and thanked the servicemen and women in their families and circle of friends. All rested and time for a trade.
Markets were under water oil all day! It was last Thursday all over again. Commodities, all of them, took another bashing all because the US Dollar looks like it may have hit bottom…or at least bouncing strong.
Today I cashed out the short hedges I made yesterday via VIX DUG and IWM. Actually they became profits rather than hedges. I also nibbled on some USO thinking oil will bounce.
Tomorrow and Friday will bring some inflation news via the PPI and CPI, along with Jobless Claims and Consumer Sentiment. This week looks to end in a wild way. I’m holding some TBT in anticipation of inflation.
Have you noticed how all the down days have a higher volume? Except for a couple hours this morning, it was still a fairly boring day. Maybe with all the eco news coming up we can get some action going. See you in the markets. 
Two economists are walking down the street. One sees a dollar lying on the sidewalk, and says so.
“Obviously not,” says the other. “If there were, someone would have picked it up!”
So I was listening in on the historic FOMC news conference and I thought I heard Ben say….So the better the economy the lower the dollar will go? Did he really say that? When the dollar is worthless we should be having a great economy? I almost yelled out sitting in the jury room…oops.
Here’s another crazy…SLV the silver ETF, traded more volume than the SPY….WTF? When’s that bubble going to burst? I guess if the dollar keeps going down, the commodities will keep going up!
Let’s see if DX catches a 72-handle overnight 
Wow! Those were some blowout earnings reports…both from AAPL and QCOM. The tech sector should do well on Thursday, the last day of trading this week.
Thursday has the usual reports with Jobless Claims included, but also a boatload of earnings repports including GE HON PCX NUE NOK and several airlines. Wondering if we have some low volume in the afternoon as traders start the long weekend.
Oil, gold and silver are in takeoff mode this evening! And the U.S.Dollar, well it’s crap while the Euro also takes off …another big wow! It’s a long time until the European open and even longer for the US open, so all this will change. But trading overnight is where all the action is in futures 
I went small into this end of month, mutual fund and merger Monday with a couple long-term longs and short-term shorts. Cash is a position….as I am unsure with what is happening at the marketplace. 
Lotsa employement news this week, with Challenger and ADP on Wednesday, Jobless Claims and Monster Index on Thursday and the BLS Employment report on Friday. Of course they’ll mix in some PMI, ISM, construction spending and the Beige Book to keep the week jumping.
Futures on Sunday evening are down but not by too much…ES down by 5 and YM down by 40…nothing drastic…yet. US dollar and oil not very active at all. I’ll wait for Europe to open. Guess I’ll check on Oscar.
Remember, after Tuesday even the calendar says…W T F!
Not sleet, nor snow, nor ice, or Egypt, or inflation can stop this market! 
The market gapped up from the get go and never looked back, closing at new highs. Volume was average and 52-week new highs were up big….WTF?
For the last 16 days, the US$ Dollar has gone down. Sure there were 2 days that were green, but not by much…they were just resting days for the down trip. How low can it go?
Wednesday starts the “Jobs Show” with Challenger layoff report and the ADP employment report, Jobless Claims on Thursday and BLS Employment report on Friday.
You can’t control what the market does, but you can control your reaction to the market. – Steve Cohen
My jaw is sitting on my chest as I just stare at the Dow bubble getting bigger and bigger. The bigger they are, the harder they fall! This is not going to end well, but I have no idea when or how it may happen….maybe it just keeps going up!
The rest of the world has problems…China with its inflation…Europe with all its banking issues. It sounded like the Irish government collapsed this morning, Irish parties jostle for power. Both gold and the U.S. dollar collapsing…and oil tagging along for the ride. So why is the U.S. stock market acting so happy? What is the basis for this ballon ride?
As I Twitted on Friday…. OpEx, my day to peep thru the window and watch everyone else get screwed…I’m sittin in $$ waiting for Monday 
And I’m still sitting there, as must be several traders, as volume was again a lowball Monday. Does everybody take a long weekend?
Truth, sound fundamentals, strong currency are passe – all that matters is rigging equities higher – the free market be damned!
Technical difficulties kept me from trading today 
But I did get the old laptop fired up to look at some charts this evening. Been watching the US dollar sink…ugly. Hoping I wake up to a better looking chart…and a better internet connection.
The real danger is not that computers will begin to think like men, but that men will begin to think like computers. –Sydney J. Harris
Everything opened up today, dollar, oil, gold and indexes…and then they went in different directions…bizarre! S&P futures volume was about 50% below average and SPY volume was 40% below. I’m wondering if today was the high volume of the next 2 weeks?
Looks like AXP kept the Dow below the other indexes. AmEx Slide Weighs on Dow. And it still looks like it’s pointing down. Oh boy, how about a mish mosh holiday market place?
The dollar heading down from this evenings open and ES taking off in direct opposite reaction…bizarre. Think I’ll just watch.
“China is holding about a trillion dollars in U.S. debt. Next time you go for Chinese food and the bill comes, tell them to put it on the tab.” – Jay Leno
I’m talking about the weather outside…60 MPH winds and lotsa rain here…it even rained sideways at times!
The markets on the other hand just waddled around breakeven all day, green red green red …make up your mind! So far, nothing happening this week.
Maybe Germany’s CPI report overnight or US Durable Goods Order Wednesday morning might juice up this market. Or maybe the dollar gaining some strength! Only 3 more trading days in October. Let’s make it a bit more exciting!
| INDU | 0.00 | |||||||
| NASDAQ | 2905.66 | |||||||
| S&P 500 | 1344.90 | |||||||
| ^RUT | 831.11 | |||||||
| QID | 36.382 | |||||||
| QQQ | 62.05 | |||||||
| QLD | 100.36 | |||||||
| TZA | 18.3401 | |||||||
| SSO | 53.15 | |||||||
| SDS | 16.758 | |||||||
| BGZ | 23.5037 | |||||||
| BGU | 75.50 | |||||||
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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