I forgot that I didn’t post on Thursday, but I went long the indexes rather heavy at the close. Markets appear severely oversold and ready for a bounce. If for some chance we are down in the morning it will likely be a big intraday buying opportunity.

• Comments

Yesterday I said, “Looking to buy weakness today, but not this morning. Waiting to see if we end weaker at the close with kind of a blow down. If we do, I’m back in heavy.”
This morning the market is up quite nicely right out of the gate on a strong retail number and some news [...]

• Comments

I didn’t get to post yesterday, but I cashed my index longs at the close. The bounce didn’t really happen - it came close and downside was limited. Looking to buy weakness today, but not this morning. Waiting to see if we end weaker at the close with kind of a blow down. If we [...]

• Comments

SPX opened and is hanging right around the 1490 level…actually around 1485. Bears are going to try and short right at these levels. I’m thinking with the Ben/Kohn floor we break through it. I’m only 50% long now in the indexes and thats in the RUT only. I would like to be a buyer of [...]

• Comments

Markets are screaming higher today.
SPLS - Staples is up another 5.4% today based on Goldman Sachs upgrade raising them to the top of their retail buy list. Thats 22% in two trading days off the bottom. I hate being early.
SNDK - Breaking a downward trendline today and the buy signal went on a few days [...]

• Comments

This Jay-Z/Giselle weak dollar story is sure getting a ton of play. Don’t know about it?
Supermodel Giselle demands to be paid in Euros from now on.
Jay-Z flashing 500 Euro Bills in his new video instead of dollars.
Famous quote from Joe Kennedy, “When the shoe shine boy is giving you tips, sell!”
Well here we have Jay-Z [...]

• Comments

We were talking about BQI yesterday, but I decided to toss it near the open on the gap up. I don’t trust the move in oil and I think its going to come down hard. Something irrational is going on there much like the irrational down move thats happening this morning. We’ll see how it [...]

• Comments

COMPX Break out. Do you believe????

AXP - American Express intraday 15min chart:

• Comments

I bought some Nov AXP 62.5 calls. The problem was I bought them like 2 minutes before the Fed announcement. So I bought in for 1.15 and they dropped to .65 soon after. I then reloaded and doubled up my position when AXP started moving higher. I got the second purchase at .80. I’m not [...]

• Comments

Today we have the Fed which will move the market big today in one direction. I’m betting up.
I’m on the CEDC call now after they reported great numbers and raised full year guidance. We’ll see what the stock does at the open on the news. I have alot of calls on CEDC.

• Comments

What do you think about IECE?

• Comments

Nothing has changed yet. I’m not trying to rationalize my position, but go ahead and short if you want.
On the 20th anniversary of the 1987 crash “the market” tanks 2.6% The RUT was the worst with 3.18%. In 1987 they dropped 25%. Today is nothing. Don’t get excited thinking that the we are in [...]

• Comments

The 3% loss this morning hurts, but the market this morning is starting to look ugly. I don’t know if this is a 1987 crash teaser fake out or the real thing. Oh yeh the real thing never happens. So its probably a tease because today is options expiration; aka one of the most volatile [...]

• Comments

I cashed out those index longs I said I wasn’t going to do unless I got a “gangbusters” move. Who uses that word anyways?
Bottomline is that NDX is up over 2% and the RUT is giving out 1.2% as of this posting (now market making new highs). I decided that it was good enough for [...]

• Comments

Being long overnight and selling out in the morning. Whew….was that lucky. I was getting pissed that I missed another boat, but it ended up being a good trade. I sold my index funds in the morning and captured 1.4% gain. I also bought into weakness today and went long heavy. Bernanke is speaking tomorrow [...]

• Comments