Tag Archive for 'euro'

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Monday Monday

Published on August 22, 2011, 10:53 pm in Trading. Closed Tags: , .

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. :cry:

“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

Up, down and around

Published on August 17, 2011, 12:07 am in Trading. Closed Tags: , , , .

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 . . .

Were the markets open?

Published on April 25, 2011, 9:02 pm in Trading. Closed Tags: , .

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

Bobbing for AAPL’s

Published on April 20, 2011, 11:21 pm in Trading. Closed Tags: , , , , .

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 :!:

Kim Chow O’Riley

Published on November 16, 2010, 10:23 pm in Trading. Closed Tags: , , , , , .

Markets are worried that some Chinese Irish contagion will explode soon….China to raise rates like South Korea and Ireland to just collapse. Throw in a little Portugal and other EU members into the recipe and you get….Today!

Knowing I wouldn’t be around much to trade today, I got out of my shorts yesterday…dammit! But, such is trading…woulda, coulda, shoulda 8O

Near the close today I arrived as the markets were making new lows, so I nibbled on some SPY calls and IWM calls…the SPY was filled, but the IWM was not. Futures this evening are inching up and just maybe the start of a November OpEx rally.

According to the Stock Trader’s Almanac, the week before Thanksgiving, which this is, the Dow has been up 14 of last 17 years. And, for November OpEx Friday, the Dow up 6 of last 8. And in 2008′s Nov. OpEx, the Dow surged 494 points or +6.5%. That says a lot about what we may expect over the next 3 days!

Chop chop chop

Published on October 28, 2010, 10:02 pm in Trading. Closed Tags: , , , .

We’ve had six days of nothing…decent ranges during the day but always closing near breakeven…some indexes green some red. Looks like traders are waiting for an election result and QE2 announcement….or maybe just for the GDP report Friday morning.

My biggest position is cash, about 85% and then 15% long in financials via C and XLF. Futures are a bit red this evening as news from Japan was not so good. Let’s hope Europe has better news….but I’m not going to wait until 3 in the morning to find out. What will be will be!

Whiplash!

Published on July 22, 2010, 10:02 pm in Charts and Trading. Closed Tags: , , .

Sure there was good earnings reports this morning, but initial claims looked bad. European good news, on manufacturing and services index and retail sales, trumped US Initial Claims this morning and yesterday’s unusual uncertainty. And it sounds like European bank stress tests are coming in better than expected. I think the give-away on that is just what the euro has been doing today. We’ll see the conclusion on those tests tomorrow.

The S&P has made it well above the 50ma which should now act as support. A trip up to the 200ma seems plausible….at least the first attack.

Some high-powered reports for Friday: F HON IR MCD VZ, but no economic news…at least not from the US. Now Europe should be full of it…so to speak. :D

A good start

Published on June 13, 2010, 10:56 pm in Trading. Closed Tags: , , , , .

Futures markets, along with Asia markets, are starting off in happy mode. We may just get back to the upper channel on my S&P charts at about 1106. Of course it’s early evening and we still have to have Europe open up, but so far if “feels” good!

Oil is moving up also and will help my UCO position. I’m looking hard at adding some other commodity ETFs this week: DYY DAG GRU DBA. A lot will depend on the US dollar and the euro of course.

And don’t forget it’s options expiration week. According to the Stock Trader’s Almanac, the Dow was down big in 2008 after being up 5 years in a row 2003-2007 for June expiration week.

Hang on, we’re in for another ride. :mrgreen:

A Slow Bleed

Published on June 7, 2010, 9:47 pm in Trading. Closed Tags: , .

Futures were way down Sunday night, but by the time I awoke on Monday morning all seemed to have corrected itself. Wrong! The morning started off decently, but soon the markets just started slicing me up…and they bled down all day. I was looking for a woosh down and a recovery. But no, it was torture. 8O

Tonight, futures are going up…almost up 1% in the early evening. Now to see what it can do tomorrow…Turnaround Tuesday?

Since it’s all been about the euro the past couple weeks, are you Ready for a Positive Euro Surprise?

We’re on our way!

Published on June 2, 2010, 10:10 pm in Trading. Closed Tags: , , , , , .

Dow up almost 500 points off the lows and S&P is 60 points up, all in 5 days. Sure it’s been an up and down, zigzag road, but do you think we’ve seen the bottom of this correction?

The Advance/Decline volumes were big today, much bigger than yesterday’s down volume: Naz +8:1 NYSE +18:1 RUT +11:1 All US stocks +10:1 yeah baby! The TICK stayed above the -400 line most of the day, dipping down just occasionally. And futures this evening and Asian markets are acting nicely. Euro moving up and US$ moving down….C’mon Europe you can do it!

Lotsa news on Thursday….before the open we have ADP Employment Change, Productivity-Revision, Unit Labor Costs, Initial Claims and Continuing Claims. As if that wasn’t enough we get Factory Orders and ISM Services after the open. Will there be enough good news out of all that to have a confirmation day? The Dow and S&P haven’t strung 2 up days together since April!

OK bulls, you better pull this off tomorrow :mrgreen: