Tag Archive for 'DRYS'

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Green Monday, what else is new?

Published on April 5, 2010, 9:27 pm in Trading. Closed Tags: , , , , , , .

It was such a low volume day I think anyone buying more than 1000 shares of a stock actually moved the market! 8)   The ES didn’t hit 1 million contracts until after the cash close. Sure Europe was closed as was about half of the Asian markets, but still, I usually look for 2 million by 3PM EST. Trading was slower than a Christmas eve!

I digress. The indexes closed in the green but it was a very boring day. I covered half of my UNG calls for 62% and half of my DRYS calls for 23%. My VIX calls are about worthless, but I still have 9 trading days to see if they perk up. TZA is looking pretty crappy but I added a few shares near the close. In keeping with my bearish bent on the markets I also added QQQ puts and TWM calls. I’ll see how far that gets me this week. Oh, and VG which I bought about a month ago, finally turned green.

It’s reading stuff like the following that gets me shaking my head and wondering “why?”
Huge 25% hike for small businesses kills New York jobs.

Office vacancy rate hits 16-year high

Tomorrow we get FOMC minutes and find out how the Treasury’s 3-year note auction behaves. Today’s auction was pretty good, with the 10-year interest rate hopping above 4% briefly, but did not cause any consternation in the equities. Let’s see if the world returns to trading on Tuesday.

I’m confused but not alone

Published on April 4, 2010, 9:16 pm in Opinions and Trading. Closed Tags: , , .

If you’ve been making the rounds you have to be in the group of dazed and confused. I’d say about 75% of the blogs I read are saying:

We’re oversold, fatigued, low volume, too many call buyers, bullish/bearish/neutral, [add your own words]. We should have a correction here but we could still move up/sideways a bit….or a small correction before new highs…or new highs before a small correction.

The other 25% are busy with their new iPads. :lol:

My opinion is that the news has not been good. Sure, markets were happy with the jobless claims and non-farm payroll reports, but you need to review the last 18 months of reports. Let me put it this way: if you put a cup of sugar into the ocean, would it taste sweet? $%@&* No!

On the flip side, my short positions have been getting chopped into teeny tiny bits and fed to the bulls. It’s not only the shorts but the longs also. I try one direction and get stopped…try the other way and get stopped again. I’m about 80% in a cash position and have a small short position via TZA and small long positions in DRYS and UNG.

Monday brings us ISM Non-Manufacturing and US Pending Home Sales, Australia has an interest rate decision and the UK markets are closed….and the futures are all gung ho green with the ES up 6 points from Thursday’s close. Indexes may still show a holiday-like volume so I’ll keep my cash position for another day.

Hope everyone had a wonderful Easter!