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It sure felt like the market was down a lot more than just one-quarter of one percent today, but that’s all that the was down. I heard a prognosticator give and get serious respect in calling for a DJIA 10k target by October when I changed the Sirius from
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Current headline: Stocks Trade Lower After 5 Losing Weeks– AP Stocks were just slightly lower Monday after losing ground for five straight weeks. That about says it all, doesn’t it? Five straight weeks of losses in the markets and another down day. I told you last week that if
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The bears and shorts sure pushed the selling hard this morning, trying to break the bulls. At one point earlier this morning, the S&P was down 10 in a straight line, but a little intramorning bounce has chilled out both sides here early in the week. Our short
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Last week, I read a fascinating report predicting that Internet traffic would quadruple between now and 2015 which got a lot of press — 286 hits on the topic in Google News right now: Cisco Predicts 15 Billion Network Devices in 2015 PCWorld – Grant Gross – 4 days ago Internet traffic will
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Okay, into the close we go and it’s gotten uglier, softer, fadier…but it’s not really a full-blown meltdown. I did step up just now and buy some Adtran near $40 a share. That’s it for the day and for the week though. I’m gonna go
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It’s been a long short week, if you know what I mean. The markets overall are soft and seem to be getting softer. It wouldn’t shock me to see a meltdown into the close, perhaps another 50 or 100 points lower on the DJIA. Not that we can
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II
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Heard about today’s jobs report and how important it supposedly is for your portfolio? Let’s see the headlines: Job growth anemic in May • Stalled economy? Nothing to be done (First Take) | Jobs worse than worst estimates: Johnson As good, flexible traders we should take this new macroeconomic data
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The trading day just flew by today, as I was working on these silver and gold and other charts and analysis and getting that information out to you guys. Only the silver trades for me today. It was N’s over Ss, meaning that the Nasdaq was stronger (in this
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Let’s update our stance, remind you of our positioning and talk about what I expect next for our silver and gold positions. To review, when silver started “dislocating” (see this, this and this) a few weeks ago, it was a flag in my playbook to start building a short
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After yesterday’s aggressive sell off, with the DJIA closing near its lows of the day and down more than 200, a steady open like today is probably a victory for the bulls. But then again, there’s still a lot of trading action to go today and it wouldn’
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We were in the green on six positions today…each and every one of our shorts made us money on the day and each and every one of our longs lost us money on the day. That’s why we hedge, that’s why we have both longs and shorts