30 October 2007

The Season of Giving (Back)

Fade To Black

This is a quick trade that I will not be holding very long...I am well aware of the big bad Fed.

26 October 2007

Fed Up

The Bernanke Call

What else is there to say...do you want to short here?
Scalp the upside...I guess.

25 October 2007

The Bernanke Put

So if your a lover of volatility, this market is for you...the ranges have become explosive with huge volume to boot...Wednesday's action was remarkably similar to the bottoming action in August...another comeback today would have me thinking that we go higher and that Bernanke will do the market's bidding once again. A break of Monday's lows should see a steep drop and push bias more to a massive topping formation. The old adage goes that volatility picks up at market turns...we shall see...sitting in cash for now...jfg.

23 October 2007

All Time Highs

So we have new highs in AAPL, GOOG and NVDA...just to name a few...Friday was just another one day wonder and all credit, housing, consumer and deficit-currency problems should be forgotten until we are at least 5 percent higher... shorts should go burn in hell where they belong and bet the house,the kids and the dog...hell let's even buy some financials...I would think you buy this gap today...but I won't be playing as I'll be in meetings today and preparing for a nice weekend in South Beach...remember those gorilla gap trades...stick to the plan...jfg.

22 October 2007

Morning Quickie

Safety Blitz

I'll be watching these two levels with interest, fading rallies...with my luck the market will fall apart and I'll end up having to chase...jfg.

19 October 2007

Whipsaw

So the twentieth anniversary of the big bad crash is upon us on expiration no less...GOOG reports another stellar quarter and the over nights are all over the place....I was opining on wanting to buy near the 2180 pivot but with all the crosscurrents, I've stayed on the sidelines...see you next week...jfg.

16 October 2007

Downtown

And Winner Is...

Quote of the Year...

From the The New York Times:

Big U.S. Banks Try to Restore Confidence in Credit Markets



"The plan calls for the banks to create a new financing vehicle to try to restore confidence and reduce the risk of a market meltdown by propping up an important part of the debt markets. But the banks hope to take minimal risk and avoid actually investing any of their own money."

...
who would have thought?

12 October 2007

Recap


I just wanted to spend a minute going over my crazy last two days of trade as a quick review of my posts leaves even me confused...On Wed. afternoon I was itching to get involved so I placed some sell order stops at 2186 that were hit and then the market of course took off back to the the upside breaking through my stops overnight for a quick twenty point loss...such is the beast...I had been waiting the whole week for an overnight gap to short into...well we got that gap so I shorted again at 2208 and the market actually collapsed right on cue giving me the opportunity to bag most of that quick drop...covering at the 2170 level...the lesson here is stick to your plan...jfg.

05 October 2007

Count DeMonay

So the payroll numbers come in positive and we get a lovely Friday gap up...Washington Mutual reports some very ugly numbers and bottom callers abound now that it is a "dividend play"...the grass is always greener I guess. And Bush announces that "we don't torture people". We are now at war with Oceania and allied with East Asia...Orwell would love this.

I just returned from my own personal Mets funeral and await a Yankee's post-mortem this weekend.

Back to the markets...GOOG, AAPL, RIMM at all time highs...I'm waiting for the futures to tag the 2200 level before getting back involved...jfg.

02 October 2007

The Jeffersons

That first move off the lows was from 1830-2060 or about 230 points...the next intermediate low was formed in the 1970 level...so a straight "moonshot" to the 2200 area is no out of the question...we shall see what happens...jfg.