Tag Archive for 'RIMM'

Day-Tripper yeah

Published on March 30, 2010, 10:45 pm in Trading. Closed Tags: , .

This morning the markets took me back to 1999…watching some stocks go up for no reason, but this time with no volume. The Nasdaq running up with AAPL going crazy because of a news story…and VZ on its coattails…flashback! It’s just amazing to me that anyone would want to go long any stock here. Certainly correction is imminent….Isn’t it?

AAPL is now bigger than BRKA, GE, PG, JNJ, GOOG and JPM. The only companies larger right now are MSFT, XOM and WMT. But just wait….a few more iSomething-or-others and they’ll be the biggest. :twisted:

I’m not looking to get into any new positions, just looking to get out for the long weekend. I’m looking to get into cash mostly. If I do hold anything it will probably be an inverse ETF or two…..like SDS or BGZ or TZA. Whichever, it will be a small position. I’ve got 2 more days to decide.

We’ve got 4 reports tomorrow that have market moving potential: 1. ADP Employment Change 2. Chicago PMI 3. Factory Orders 4. Crude Inventories. They’re listed not only in the order of announcement, but also in the order of potential movement in the market. It is also the last day of the month and the 1st quarter…..And don’t forget RIMM has an earnings report after the close.

April Fool’s on Thursday. The fool most likely is the Bureau of Labor Statistics, who have decided to announce March’s Non Farm Payroll and Unemployment report on a market holiday Friday…duh!

Dollar strong and futures weak this evening. Looking forward to some selling for the month/quarter end. If we don’t get that, even just a little bit, bears may just have to give it up and let the bulls run. Happy trading!

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Is it time yet?

Published on March 29, 2010, 9:44 pm in Trading. Closed Tags: , , , .

Y’know…for the market to correct. I’ve been preparing for it, but it never comes. Every time the bears make a play, the bulls trample them. But, the volume of bulls keeps getting lower and lower. Monday continued it habit of a green up day.

Did you notice this morning that the indexes opened up and so did the VIX? Usually one is up and the other down. That got me worried that something was going to happen…but it didn’t. Seems like cash is probably the best position to be in, but I keep nibbling on the short side with QQQQ puts and the inverse ETF TZA. I’m also on the long side with DRYS…so I guess I go both ways. :oops:

After hours trading today was wild. AAPL and VZ busted to the upside when the Wall Street Journal reported AAPL to make an iPhone for the Verizon network. Of course this hurt both RIMM and T which went the other way. Another move was GNVC when they announced a failure of a Phase 3 trial…the stock dove 75%….traders couldn’t get out fast enough. 8O

Tuesday we get the Home Price Index and the Consumer Confidence Index along with a spattering of earnings reports. Let’s see if any of those can get us a turnaround Tuesday….to the downside.

Here’s some reading that should show us the way….
Consequences Of Health Care: Valuations

Massive Deficits, Debt Overhang and Rising Bond Yields

Raise Taxes and Cut Services? Why Not Stop Unnecessary Bailouts, Unnecessary Wars and Unnecessary Interest Costs Instead?

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