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Remember during last week’s chat when I wrote: Feet to fire, I’d guess that the market’s probably got 2-5% downside vs. 1-2% upside in the next week or two and then we’ll be back off to the races somewhere starting the second week of August or
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Did I mention ugly? No other way to describe today’s nasty sell off. Everybody and their mother was apparently set up for a big “relief” rally one a “debt deal” was completed. So the market did exactly the opposite and collapsed as the selling fed upon itself. Lucky to
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Yesterday I wrote a piece on here called “The good, the bad, the ugly and otherwise…” Today that piece would be called “The ugly, the ugly, the ugly and the ugly…” Because it is U-G-L-Y-you-ain’t-got-no-alibi ugly out there today. We were luckily raising big cash last week when the
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Here’s a list of my positions, in order from biggest to smallest, after all the selling I did last week and the moves I made yesterday too: Longs – * Sandisk * Google * Cisco * Marvell * Microsoft * Cypress * Nuance * Apple * Corning * Riverbed * Visteon * DBA * Ciena * Adtran Shorts – * Lender Processing Services * Wells Fargo * SLV
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It might be funny if it weren’t just pathetic, but do you remember how a couple weeks ago these idiot Republican/Democrat politicians and the bureaucrats they appoint at the Treasury, Fed et al, were running around the Sunday morning TV circuit warning that the markets would get hit
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The good – Well, the markets are down sharply, but our WFC and other shorts are working for us. Apple is still up and Google was up most of the day until just recently when it ducked into the red now. The bad – The telecom stocks are really under pressure and
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You ever think about how many times you have to cast when you flyfish to catch a monster trout? It’s like that in trading too, isn’t it? You have to cast and cast and hope that everything comes to together and you eventually catch a few big ones,
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Good hump day morning to you. Or not. Those markets are taking it hard on the chin this morning and many of our stocks are lower too. As much cash as we’ve raised in the last few days when the markets were at their highs, we’ve got some
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One of my mentors used to say that traders who use exchange-traded funds are lazy. Because when you’ve done the “top down” analysis — looking at a sector and how it fits into the economy — then you’ve got your starting point. After that, you need to dig into the
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The broader markets remain down and mired with mostly red stocks this morning, but the Nasdaq has turned and tech is leading an intraday rally upward. At least for now. I’ve continued selling down the positions as noted earlier and am now done. I’ve gone from being aggressively
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Good morning and welcome back to the jello-dome. Breadth is down sharply once again this morning, with two stocks down for every one that’s up in the broader markets. But with Google, LPS and a couple others working our way this morning, we’re up a bit. I’m
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It was a pretty ugly day masked by some flattish action in the broader indices. I did sell down the stocks and calls I’d mentioned I was looking to and I still have a little bit more working on the same sell orders tomorrow. LPS is out and it’
