Trading thoughts, ideas, tips, musings, and pontifications. . .not necessarily in that order.
Yesterday may have been questionable. but that is a real statement today by the indexes!! Dow over 12K and many indexes up over 10% in just 3 days!! Good job bulls!
Although Europe is a mess, China is being proactive reducing rates and the economic news in the US is great…and there is a lot more news to come over the next 2 days. Here Comes Santa Claus!
Yes, I mean those ‘motherly’ cuss words…but I’m actually talking about Moodys and Fitch, get it? Heehee!
Moody’s downgraded some German banks, so Fitch downgrades US banks with dealings in Europe. Is this really news? Didn’t everybody already know that? And why announce that in the middle of an options expiration week? WTF? News, made up or real, always trumps charts and indicators.
The Stock Trader’s Almanac says, “Week before Thanksgiving, Dow up 15 of last 18.” Let’s see what Thursday and Friday bring us.
I was trading ES today. It just doesn’t feel good when a retracement doesn’t come back to your buy point…missing by one tick and then takes off without you…mope, mope, mope. On the other hand it doesn’t feel as bad as when you chase it up and it goes against you. Patience is a virtue! Trade your plan and stick to it!
As they come around the bend, Greece is fading as Italy takes the lead. Another rocky start to another euro-week of trading as Italy’s woes take center stage. This, of course, is bigger because Italy’s marketplace is much bigger than Greece’s…. The Euro-confederation does not have that much money.
It does make it hard to trade with such a news-driven market. In a split second, a news, or rumor release can send your trade in the opposite direction of what your trading signals indicated. On the other hand, there is a ;arge opportunity to make some money….in quick scalps for me.
But then, on Monday, after all the hub bub in Europe, traders shook it off and closed near the highs. Oh well, trade safe!
There is going to be a lot of words thrown about this week. Besides the eco reports, PPI, CPI, Housing Starts and Philly Fed Survey, there’s a Fed governor speaking every day…sometimes twice a day. The markets will be listening with one ear towards the FOMC gobbledygook and the other ear aimed at Europe. And the markets will get squeezed in the middle!
Don’t forget, it’s OpEx week as well. What a recipe for volatility! 
Yes again, the european news mill whips around the US stock market on rumors and leaks. Boy is this tiring! The President couldn’t move it, nor could housing news. Nope. Just that european BS.
For a while the markets recovered…looked a lot like a key reversal. But futures are back to their lows this evening. Let’s see what kind of news crap the eurozone comes up with on Tuesday.
Looking like the market has created a ‘W’…but we need follow through and then breakthru that 1200 region in the S&P.
Although housing data wasn’t that good today, China’s PMI was good. Asian markets and the Eurozone lead us into a a very up day. Neither hurricanes, earthquakes nor Greenspan could stop the bulls. Volume was decent for a late summer rally.
Fat Bottomed Stocks make the world go round!
Oh Monday morning, you gave me no warning of what was to be… It started so nice at the open, at the highs of the day, but it was all downhill after that. The indexes closed back at breakeven…or thereabouts!
Looks like all the market moving news will be coming from Asia or Europe…until Friday…when Ben Bernanke will give a speech from Ass Jackson Hole, Wyoming. Traders are expecting another QE launch, like last year. So we sit and wait.
Wow, gold $1900! Does it feel toppy yet? GS Blankfein hires a high-powered defense attorney…uh oh! Did you see GS dive near the end of day? Seems like all that matters is news and rumors. 
“Obama said the housing market may not pick up again for another year or longer. On the bright side, President Obama now has nine people interested in his house.” — Conan O’Brien
It was a day that accomodated the bulls as well as the bears….and a great day if you go both ways! Volume increased a bit from yesterday, about a half-million contracts in the ES.
While economic news in the US was good, Europe continues to be a world-wide downer. So if Europe could get its sh!t together, I think we could be doing a lot better.
It still is options expiration week….a week designed to take as much money from as many people as money managers can. Watch those puts and calls!
Remember, after Monday and Tuesday even the calendar says W T F . . .
SPY volume was down -60% below average! ES contract were at 597K about 25% of the average day! So it’s easy to say that no trading went on today! I wasn’t around to trade today…so that works for me. Tomorrow may be a lean day for me also…but at least the Eurozone markets will be back after the Easter Monday holiday. Gee, should the U.S. markets take off on Monday instead of Good Friday?
President Obama’s 2010 tax return shows he made 1.7 million yet paid only $453,770 in taxes, thus allowing him to keep more than one million bucks in his own pocket. Economists say it’s the first budget surplus anyone has seen in the White House since the Clinton administration. — DailyComedy.com
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 
| 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....
Looking to find out about covered calls?
How about training TV?
