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Email from a Trading with Cody subscriber: “Hey Cody! What do you think about the reverse split with Citi? Buy?? The other big banks? Buys? Thanks, Shawn.” Shawn, earlier this week, I started shorting the XLF of which Citi and its welfare-funded business is a part. Citi would be
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Its almost a welcome sight to see the markets flattish to slightly down this morning after the recent wild volatility week we’ve been having. I’m itching to buy more but discipline always trumps itches. I will not force trades. I will not force trades. Say it with me.
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Like trying to skip stones in the tiny Rio Ruidoso, where they might skip once only to wedge themselves into the muddy bank on the other side, so too act the stocks trying to make any kind of a significant move themselves today. Just a “thoomp” into the mud and
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These markets and the willingness for traders to risk paying up for higher prices in the near-term is likely to be driven by the newsflow out of Japan. Regardless of the near-term multiple/risk appetite of the market, let’s remember the lessons we discussed about why we
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The broader markets are trying to hold steady just barely down on the day after having started the day just barely up. But those indices are hiding the ugly action underneath, with lots of stocks down 3-5% and breadth stinking too. Work those buy orders slow and/or look
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A flattish open! Stop the presses, it’s been a long, long time since we last had a flattish open. Well, it’s been a few days at least. At any rate, it feels a bit slippery out there to this trader and I expect the path of least resistance
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The days just come and go in a hurry as we sit here staring at these blinking lights all morning and afternoon, don’t they? Look at any intraday chart of any major stock index and you’ll see the same pattern I mentioned earlier about how the stocks seem
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One unmistakable pattern in the markets the last couple weeks — where they open, they pretty much close. While we’ve had our fair share of 1% intraday moves since I started trading again, we haven’t had a full intraday swing from positive to negative or from negative to positive
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I shorted some XLF, an exchange-traded fund (ETF) that represents a bunch of financial, mortgage servicers that gets me short the TBTF, bankster stocks that are somehow still receiving “emergency” welfare and interest rate loans from the taxpayer and are now going to start literally transferring some of that
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Big moves across the board in most of our stocks this morning and the market breathed a sigh of relief that Japan isn’t any worse than it is. We were buying aggressively at lower levels and our portfolio shows that relief today. I’m probably going to work to
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It has been a very volatile trading session as expected this morning. There was no Oomph since the open. I didn’t do any trades today and I’m going to go fishing instead. Remember to enjoy life and I’ll see you guys early this Monday.
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Another strong rally to start the day but once again it feels like there’s to be little oomph from here to the close. I won’t be looking to force any trades today but there are still a couple new names that I’m looking to buy, so we
