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Up it to a 40% chance
Nice spot for a Ym bull trap; I'd give it a 35% chance.
NDX/S&P/US econ & stock market=helped by AAPL cloaking device.
Covered half Ym's; took the loss.
Bring the Ym's down soon; run 'em up later
There may be some question about that borusa.
I may be stoopid but I'm not dumb.
Buy-stop half Ym's above the market. I may be wrong, but not all that stupid.
Looking for the Ym's to come down hard and fast; 'course I could be wrong. We'll see.
Down on the Ym shorts; will give it some time.
Added to Ym shorts at 13,126
Eom dumpapalooza followed by eom markup.
Shorting more Ym's via sell-stop under the market. 13,130 last.
Sweet AAPL trade canny.
Order in to short Ym's 13,128 also; last 13,126
Bidding YM's at 13,112; 13,128 last.
They have alot in the pipeline, but it might take months for them to come about, like next Novemeber before anything meaningful hits, long time.
The kids have been off for the week, well in some parts of the country, the reason why they have been doing 10 million a day, I scalped it out on Monday morning, glad I did. Always sell the news and sit back and watch, since then its been a downer. Yestedray it found a little support, but like so many stocks I watch, another one day wonder, today its back to giving up those gains.
Besides my streamers were not working well this morning, has to switch to back-up E-Trade, Ameritrade now working fine. Scared the crapola out of me.
Besides just not making much on trades.
Some nice trading while I was out. AAPL and ALLT 23.30 now. Uptrends are nice trends.
zab: Miami Gent has a thread, "Big Board Trading." It's pretty good. Low priced stocks that MOVE! I suggest you pop in; I do.
The kids will likely see the movie this weekend. But the stock is temporarily weak. A film maker tends to be only as good as it's last picture.
The early drop was crazy.The expected bounce even nuttier.
Sold AAPL calls for 40%.Yeeeeehaawwwwww!!!
PETS- mentioned a few times, appears to making a nice move today.
AAPL wondering if this one will break 600 today, nd if so how some people will claim its a buy, while other are saying its time for this one to give up some of those huge gains of the year.
Staying in cash, would like to short something, but even then the moves are so small most days.
Ameritrade quote system just not working correctly for me today, switched to E-Trade, everything seems proper again, just hate it when what you see on your screen is not what is being quote, fortunately my limits orders got done and am all in cash.
Slow leak all day then BRC (big red close).
Pants
Also seeing volume very low this morning on so many issues, something damn spooky about today !!
Going home in cash this weekend, something dosen't feel right.
Getting the strangest bid/ask quotes on my screen, anyone else seeing this.
OMX, SAH as examples of huge gaps between them.
3:32AM your feeling terrific? How about 2:00PM?
borusa, hi
My post here was pretty much tongue in cheek. I drop by occasionly to check on acquaintances. Am disturbed by the amount of politics compared to trading that seems to consume much of the discourse on zeev's no politics intent these days.
Never mind. I am an active options trader (only), mostly intraday. Like Lee, I sleep all in cash every night (with rare exceptions). He stays at his business nearly all the time; it's his job, as is mine.
Drop by OPTIONS TRADERS COOP as you might wish, to lurk or participate. We are rarely too busy to reply.
http://investorshub.advfn.com/boards/board.aspx?board_id=24396
MS prepares for a possible downgrade, in that news this morning, I found the story. It also went onto stating that 10 other financial instituions that could face a Moody's downgrade.
I find that story quite interesting, bet Bernanke is not pleased with that one, maybe his reason for addressing the markets and letting him know that easier monetary policy could be on the way.
The economy is just a few steps from going back into the abyss it just came out of. I might want to be a Bull long term, but the reality of the financial instituions can change the game at anytime. Sure pays to be cautious.
Some days there is no safe place to park money, unless you have a time horizon of a few minutes.
Oil service stocks have been taking a beaten of late, and thats with oil over $ 100, barrel, what would happen if oil ever dips, SLB, the true leader in this sector looks like crapola again.
NWS- Murdoch's News Corp under fresh charges from Great Britian and Australia for hacking into various Cable companies like Direct TV, and trying to pirating other pay-TV rivals.
LGF- the HUnger Games only took in $ 8 Million yesterday, been averaging almost 10 million a day for this week, it will be interesting to see if the movie has any real staying power this weekend. I know Mary and her daughter will be seeing it tomorrow, checking the stock price, the old adage of selling the news on last Monday morning holds true, been down ever since.
AIG trading over $ 30.00 a share this morning, also has those pesky AIG/WT warrants that are about $ 10.00 a share.
Friday morning federal headlines - March 30, 2012
Friday - 3/30/2012, 8:41am ET
The Morning Federal Newscast is a daily compilation of the stories you hear Federal Drive hosts Tom Temin and Emily Kopp discuss throughout the show each day. The Newscast is designed to give FederalNewsRadio.com users more information about the stories you hear on the air.
• E-mail and online shopping have left Postal Service workers with little to do. Employees worked a record-low number of hours in fiscal 2011. The independent Postal Regulatory Commission's new findings are no surprise to the struggling agency. The Postal Service cut more than 6,800 delivery routes in its fifth consecutive year of financial losses. Leaders told Congress Tuesday that the agency wanted to offer buyouts to 150,000 workers. (Postal Regulatory Commission)
• Congress passed a transportation bill that would keep federal aid flowing to construction projects and let the government continue collecting $110 million a day in fuel taxes for three more months. The bill gives the House more time to consider a larger transportation bill that would include a measure increasing federal employees' retirement contributions. In what is seen as a political gesture, the House approved the GOP budget plan. It calls for extending the federal pay freeze through 2015, increasing federal retirement contributions and cutting the federal workforce by 10 percent. It's expected to go nowhere in the Senate, however. (Federal News Radio)
• Pentagon leaders have been warning for months that sequestration would equal "devastation" for the military itself. They told Congress it would also take a massive toll on defense contractors. Frank Kendall, DoD's acting acquisition chief, told the Senate yesterday that another $500 billion in budget cuts would affect "hundreds of thousands" of jobs in the defense industry. DoD is in the middle of a project to build a comprehensive map of the entire defense industrial base, so it can keep tabs on how existing budget cuts are affecting contractors. Officials are especially worried about third-and-fourth tier firms. Kendall said DoD would intervene to keep firms from going under in some cases, but those interventions would have to be few and far between. (Federal News Radio)
• A senator in charge of overseeing government contracting policy said she expected the Obama administration to release new guidance on counting the cost of contractors soon. Sen.Claire McCaskill (D-Mo.) was critical of what she said were "flawed assumptions" that lead agencies and Congress to think that contractors were cheaper than federal employees. Federal Times reported she told a Senate committee yesterday that OMB would release new governmentwide guidance on how to gather data and calculate contractor costs within the next 60 days. McCaskill said government spending on service contracts went up 79 percent over the last decade. Over the same period, spending on federal civilian salaries increased only 35 percent. (Federal Times)
• About a year ago, the Office of Federal Procurement Policy started a campaign to break down communication barriers between federal agencies and federal contractors. The "mythbusters" campaign was widely praised as a success, but OFPP thinks there are still some myths to be busted. A second mythbusters round is about to get started. This one will focus on industry's perspective. OFFP's acting administrator said they want to make sure vendors gathered all the information they needed before they sat down with government contracting officers. She said the office was working closely with industry groups to identify the most commonly-held myths in the vendor community. A new document laying out the results should be ready within the next few months. (Federal News Radio)
• The Agriculture Department and the Federal Aviation Administration are teaming up on what could be a novel approach to alternative energy production. A new USDA study found many of the nation's airports could prove to be ideal sites to grow feedstocks for biofuels. The department is especially interested in airports with large areas of grassland on their property. Converting those grasslands to biofuel crops would serve two purposes, according to USDA. It could provide airports with alternative energy that they could use on-site; and it would get rid of the kind of vegetation where birds tend to roost and pose a threat to aircraft. The study was published this week in the journal "Environmental Management." (Federal News Radio)
• The Federal Employees Health Benefits Program would offer more options next year. The Office of Personnel Management said it would add 10 health care plans, marking the biggest expansion in five years. The agency's annual "call letter" set out other changes to tamp down the rising costs of medicine. It wanted generic drugs to make up 75 percent of prescriptions filled. It also called on insurers to offer health, wellness and obesity-reduction programs. (Federal News Radio)
• A new Senate bill paves the way for top career feds to earn more money. Sen. Daniel Akaka (D-Hawaii) said some members of the Senior Executive Service earn less money than the employees they supervised. That was because SES members don't receive the locality pay or minimum salary increases that feds do under the General Schedule. His bill linked the two pay systems. It would also let senior executives include their performance bonuses in their retirement calculation. (Federal News Radio)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Cold Water on Lotto Fever
The lotto's a game of slim chances,
Though the jackpot immense at first glance is;
Of the fortunate few
Whose numbers come through,
Most end up in bankrupt finances.
-Dr Goose
http://tiny.cc/w3ezbw
Again I didn't help with my comments yesterday, its just that those three days, put a damper on stocks. In the meantime so many stocks just traded in a range once again.
I just saw Financial and Housing stocks, that were leaders for awhile change direction. BAC which has had a great run, appears to be now caught in a trading range, maybe if it gets down to under $ 9.00, but like other stocks I have watched these past few months, they trade up, only to trade sideways for a length of time, and then finally people get fed up and sell forcing the issue south.
GNW is a perfect example of this, of course news, or some Brokerage House can always change the game plan eith some timely release of some BS news, I think many us have been caught on those news releases at one time or another.
Wall Street Breakfast: Must-Know News
By Yigal Grayeff
March 30, 2012
Revolution at RIM as earnings slump again. RIM (RIMM) would consider selling itself if a strategic review found that this was its best option, CEO Thorsten Heins said yesterday after the BlackBerry maker once again missed earnings forecasts. RIM's FQ4 adjusted EPS almost halved on year to $0.80 as revenue slumped 25% to $4.19, while the company said it would discontinue "providing specific quantitative guidance." RIM also said former chairman and co-CEO Jim Balsillie is leaving the company, as are the CTO and COO. In addition, RIM is reviewing "strategic opportunities" such as partnerships and licensing deals, plans to abandon most consumer markets, and it wants to achieve over $1B in annual cost savings.
Greece says it may need another bailout as finmins set firewall. Eurozone finance ministers are meeting today in Copenhagen, where they're expected to agree to increase the eurozone's firewall, although Finland's Jutta Urpilainen said the projected figure of €940B is too high. The Irish want €1T. Either way, more of the money could be needed for Greece, whose PM, Lucas Papademos, admits may require a third bailout.
Spain's Rajoy to stay the course despite unrest. While eurozone finance ministers decide about the firewall, Spanish PM Mariano Rajoy will today show how he will attempt to prevent Spain - whose bond yields have been rising lately - from needing to use it. Rajoy is expected to announce the country's most severe budget since before it became a democracy in 1978, even though the measures risk deepening its recession and despite a general strike yesterday.
PetroChina wants to get even bigger. PetroChina (PTR), already the world's largest publicly-traded crude producer, plans to "buy assets on a large scale" to expand output. "Large" might be an understatement; the company intends to invest at least $60B this decade in global oil and natural gas assets to increase the share of overseas output to half of its total.
India plays risky game with $2B Vodafone tax threat. Vodafone (VOD) is urgently reviewing its options in India and overseas as the country moves toward a law that would retroactively apply a tax of over $2B on Vodafone's 2007 purchase of Hutchison Whampoa's Indian telecom venture. The law would come despite a recent ruling by India's top court that Vodafone wasn't liable for back-taxes. It might also give other foreign companies pause for thought about investing in the country.
Japanese factory production clouds optimism. Japan's factory output slipped 1.2% in February vs. expectations for a 1.3% increase, with the surprise fall clouding an increasingly positive economic outlook. Still, unemployment dipped to 4.5% in February from 4.6% the month before and consumer prices (excluding fresh food) unexpectedly rose 0.1%.
Foxconn pledges to improve factory conditions. Apple (AAPL) and Foxconn have forged an agreement in which the latter will hire tens of thousands of workers, halt illegal overtime, improve safety and upgrade workers' housing. The deal follows a scathing report from the Fair Labor Association about conditions at Foxconn's Chinese facilities, and could have far-reaching effects for the rest of the sector.
MS braces for downgrade, Citigroup stays sanguine. Morgan Stanley (MS) is making preparations for a major downgrade from Moody's, which is due to decide in May whether to cut ratings for 17 global institutions. CEO James Gorman has met with Moody’s several times to limit any fallout, and the bank has been in talks with trading partners. Another vulnerable firm, Citigroup (C), said it doesn't believe a downgrade would have a material impact.
BATS may hold back on corporate listings. BATS (BATS) is thinking about suspending its efforts to recruit corporate listings after last Friday's trading glitch and IPO fiasco, The Wall Street Journal reports. The move would be a major defeat for the company, which has viewed such listings as critical in its efforts to compete with larger rivals NYSE Euronext (NYX) and Nasdaq (NDAQ).
Scammers milk the IRS for billions of dollars. The IRS may have been defrauded of billions of dollars in a widespread and long-running scheme that uses the stolen IDs of Puerto Rican citizens - who don't have to pay income tax - to file fake returns, The Wall Street Journal reports. The Feds have made inroads in tackling the scam, preventing false disbursements and achieving convictions, including that of a certified fraud examiner.
BRICs make IMF power play. The BRIC nations and South Africa have threatened to withhold additional funding for the IMF unless they're given greater voting power. The five countries said there is an urgent need to "enhance the voice and representation of emerging market and developing countries" at the IMF.
Eurozone CPI falls. Eurozone March inflation slowed to +2.6% from +2.7% previously and against forecasts for 2.5%.
BHP's Ashby to leave. BHP's (BHP) iron-ore chief, Ian Ashby, will unexpectedly step down on July 1. Ashby spooked his company's shares and markets worldwide last week with his admission that Chinese demand for ore is flattening out. A spokesman said the comments have nothing to do with his departure.
Today's Markets:
* In Asia, Japan -0.3% to 10084. Hong Kong -0.3% to 20556. China +0.5% to 2263. India +2.0% to 17404.
* In Europe, at midday, London +0.7%. Paris +1.4%. Frankfurt +1.0%.
* Futures at 7:00: Dow +0.4%. S&P +0.5%. Nasdaq +0.5%. Crude +0.4% to $103.21. Gold +0.6% to $1665.30.
Friday's economic calendar:
8:30 Personal Income and Outlays
9:45 Chicago PMI
9:55 Reuters/UofM Consumer Sentiment
Earnings Results:
Companies that beat EPS expectations last night and today include Tibco Software (TIBX). Those that missed forecasts include Research In Motion (RIMM).
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Cold Water on Lotto Fever
The lotto's a game of slim chances,
Though the jackpot immense at first glance is;
Of the fortunate few
Whose numbers come through,
Most end up in bankrupt finances.
-Dr Goose
http://tiny.cc/w3ezbw
PETS- made a small move near the close, the volume has never been great on this one, but its an interesting smaller company.
I see more of a sector rotation, and in many ways that is good for a long term Bull Market, which I think we are in, of course at anytime there can be some world event, or percieved world event that allows the true forces behind this market to take the market down 10-20 % in a matter of days.
Another flash crash is never out of the question, so many daily moves just never add up, unless certain forces are pushing the buttons of these high speed trading machines. I watch small moves like that all day long, or last hour swings that virtually wipe out all of the days gains in a matter of minutes.
You are probably alot safer to go home in cash each night, many morning I have been caught on the wrong side of a trade, and then spend the rest of the day trying to get back to " par. "
There are still long term plays out there, and I do find them, but they involve stocks that I was never really aware of, and they are very expensive, usually $ 75. and up.
But when it comes to the stock market, it will always be apart of my life, I started when I was 10 years old with Atlas Consolidated Mines, Class B shares, my Aunt, through her Mutual Funds that she held onto from the reat Depression, taught me that real money can be made in the stock market. I doubled my money on that trade, ever since then I was hooked.
Best of luck to you, and I am glad you found a way to trade the market.
Massive 5-year possible double top on QLD. Reckon it'll go to 200 next, or 50?
Healthcare is a serious problem and has touched and will touch many of us. I would ask that we keep politics out of the discussions. Most of us have a political point of view, but let's keep it out of our posts; it tends to create passion, anger and back-and-forth that many of us find distasteful.
I'll be out thi. morning until 10:00 or so. There is no truth to the scurrilous rumor that I'll be seeking or planting prune trees.
Personal income/outlays at 8:30; Chicago PMI at 9:15; Consumer Sentiment at 9:55.
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