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I rarely watch the financial stations anymore aside from when I wake up just to see where the futes are but the last few days with the market gyrating I flipped it on a few times and its hilarious because when we hit 10k everyone was bullish up the wazoo.. now that we shaved 300 from that number everyones bearish..
Every single last one of them is as worthless as tits on a bull : )
I still think we have some upside- for now everyone is still living in lala land but I think once we get into the next 2 quarters the reality of what a mess we have on our hands will come back.. Im so ticked I didnt follow my plan and short some GE a few months back but im going to watch it and if we do move higher I will start a short that I plan to hold for about a year as I see GE going the same route that C is heading down..
GE is junk.. C is junk.. heck if I can get the XLF to bounce back to 15ish thats another one that I think is headed for single digits.. Not hard to identify the rot in our economy... even better when everyones in denial : 0
Twelve- funny you mention that.. I noticed after about a year of clear sailing Ameritrade is getting qwirky again.. The last time the market was gyrating like this I had to step back and just not trade because Ameritrade was not filling orders for sometimes 3 minutes- and the data would come in waves.. Very frustrating, and I suppose its times like these that we need to smack ourselves for using the discounters but I think all in all we still make out better then the folks paying the higher price for the pros but it would be nice to not have to skirt around the problems like this..
Of course- just between you and me you can use this to your advantage.. 3 times this week I had a stock run right past my stop, and then bounce so I cancelled the stop and re-entered it just under the current bid.. and of course if the stock keeps dropping you simply write them a note saying the stop didnt trigger, so you tried to cancel it and are due a fill and they will fill you.. Turn it around on the basitds ;)
I finally broke a losing streak.. Had another great week somehow- not really sure how.. I cut down on my grass smoking and my profits sink so I took care of that problem and wont ever let that happen again : )
Holding CATM, IBB.. Will be looking to buy some things Monday.. I think we are getting ready to resume the move up.. gulp
Gapper CATM
Woah- It hit a wall at 8.5 so finally after 1 hour premarket I took the hint and got out.. I was down almost a point from my initial buy so walking away with a few dimes was fine by me but wow look at it plunge..
crazy stuff...
Ok bought a little more VVUS and just keeping the original stop.. Why not..
8.2
VVUS -
Additional Data from the Qnexa Phase 3 Studies Presented at The Obesity Society 27th Annual Scientific Meeting
http://finance.yahoo.com/news/Additional-Data-from-the-prnews-2475544399.html?x=0&.v=1
Hey man- some excitement this AM eh? : )
Mostly back to just scalping for now, but I did take some IBB into today although nothing huge.. Still following Carls technicals to see if we can get back over 1050 here- he still sees a break to 1120.. If that happens ill probably jump on the FXI since an old friend whos usually wrong is bearish and I may make a hit there.. OTher then that, scalp scalp...
Ok I posted enough for this month.. back to lurking.. gluck and glad to see you floating around here still.. Aside from this thread IHUB is doa.. Well, the penny side is still thriving but all the big threads are history- kinda speaks volumes about what tradings done to folks over the last 5 years...
I prefer it this way.. Just funny all the people who said they is 'aint' : )
IBB got to 73 so I grabbed a rather small position and will just use a tight stop at 70... why wait...
IBB at 73.5, im not pulling any trigger.. figure ill wait for tomorrow data and see after first hour or so.. Market looks awfull, but thats what it does so well..
Jang : )
Trust me, the last 3 times I saw my ex-biz partner I asked him to keep me in mind if he gets any large 2-3 week jobs... I have no problem picking up the hammer/paint brush again, it kept me out of trouble 2-3 years ago and ill do it again until I cant walk up a ladder one day..
The last few months have been real tough- but I realized something? over the last 10+ years I would have random blowups of my account.. and sure enough, Im realizing now that what happens is I go through these 1-3 year runs where the market cators to my style and virtually just hands me money.. but when that changes the emotions and demons wake up because now its tough, and in the past thats where I kept blowing out my account. Its good that im learning to isolate all these things but whats depressing is the fact that our demons never go away, the game always changes, and we will always have to be on our toes in order to survive this game.. I j ust think back to when I quit my last corporate job at PNY Technologies? and the reason I quit was mostly because nobody cared that I was there, listened to anything I had to say, and yet they just kept handing me a paycheck.. I started taking 2 hour lunches, nobody cared.. started coming in late, started leaving at will, nobody cared.. Talk about a dolt : ) that was about as good a thing as you can get : )
Letting someone else run the show and writing you a paycheck? no shame in that at all!
Yeah im taking the profits on the gold short as its acting like its anticipating that 1050 on the SP will hold : )
Wish I waited on VVUS but its only a few hundred shares.. These days we dont even 'think' about 5000 shares and all that jazz I was doing left and right the last year.. Now we talk 500, 250 and a rare 1000 : )
IBB continues to sink, but I do want to grab some.. but as usual im scared as we come close to the magic number.. Carl- whats the scoop man? I see he just went long but thats probably just a daytrade... and its time for me to go for a big fat hike so I stay out of trouble- ill make it back for the last hour..
http://carlfutia.blogspot.com/
< cabrero and her sweaters >
Falling off my chair laughing on that one hehehe.. Curious where all the viewers went? Bloomberg is good for data but they still have this amatuer hour feel.. Also stinks they dont have a high def channel here so the data looks kinda ummm blurry... Guess im getting old.. chit : )
Hope your doing well Twelve...
TEVA another one to buy if it dips further me thinks...
Im subscribing to the 1050 being the bottom thinking ala carls forcast.. Hes called it so well lately why not stick with the chap : )
Hey- are you still long Gold? I have a gold short on still and looking to cover in the next few days, just hoping im not pushing my luck.....
VVUS - I just bought back into VVUS long at 8.35
Been trading it alot, but as is always the case when I adopt one of these stocks as a vehicle I start looking at the story.. VVUS is a cult stock so that explains why its getting so ridiculously cheap as they all fall like dominoes here.. Classic run over 10 again the other day on a CNBC to trap more longs and give the shorts further push on the downside.. then the analyst today who has a vested interest in another competitor? but irregardless, this stock is now getting cheap.. as is the IBB and soon ill be going long IBB in my IRA.. (Dont get me wrong, this market is so overpriced and reality is coming real soon? so these are really just for 1-3 months)..
Im long VVUS on a swing at 8.35.. I wont be adding or getting fancy, and have a solid stop at 7..
I made money the last few days so now I felt it was ok to post a trade.. Geesh this market has been humbling lately- I wish I could yell my accounts at an all time high but thats just not the case.. maybe in 2010 :0
Sad part is we wont ever know the truth.. Our leaders have become masters of the media manipulation and history re-writing etc etc..
I think it was Abbie Hoffman who talked alot about how our govt. was learning to master the media and if you master the media you have total control.. Just a herd of sheep begging to be told which direction to go in...
The only reason I lean towards it being an honest death is the fact that this man would literally shake and sweat when he had to be around people.. The attention he received in the last 2 years just HAD to put one foot into the grave for him.. I guess this blows the letter of endorsement I have from him? That letter landed me about 5 jobs.. now it will probably land me on my ass outside the door : )
o/t- Considering there wont be much to talk about now that hes gone I felt this song would best put it into context.. Unfortunately for the folks that lost everything thanks to Madoff? Picowers death now pretty much insures they wont get a dime of his money or at least not easily. I still believe Picower was the brain power behind the scam from day one, and alot of folks at the SEC, IRS and US govt. are breathing a big sigh of relief that hes gone.. Oh you can bet they are..
hey, a buy stop at 8 now? re: USEG hehehe
Funny its been awhile since i looked at the group and honestly I dont even k now what moved USEG? but it made me glance at URRE.. kinda wishing I took it at 1.13 hehe
I just noticed USEG.. oh hells bells man, ya know : )
Ahah, well add one more to that list because I too almost chased the break over 5 but after the bad habbits I have deveeloped t he last few weeks I thought for sure that was too much of a chase : )
A buy stop at 6? oh hell no...but it will probably work no doubt..
10:15 and we already whipped 2-3 times..
Im short VVUS at 10, and CPRT at 33.75.. looking to get whipped out any second here- this market has become a pain in the rear lately ; 9
Feels like summer market.. weird..
Im long HPJ for a daytrade but I wouldnt recommend it.. wouldnt recommend anything here- zzzz
It really is such a contrast to what we see when our largest banks produce their errr numbers..
These pharmas are goliaths.. and so refreshing to see real numbers and no fraud for a change..
DNDN getting a little jumpy yest/today..
Watching FXI for a long- I particularly like the fact that once again alot of folks are shorting this market up here and also china- yet China looks to be ready to start a powerfull move higher so with plenty of fuel in place, letsee..
Only lousy thing is Carl hasnt been doing much intraday trading.. for a bit there I was taking the SPY off his trades and doing pretty well for a side project.. mooch mooch
I have to head into the city tonight and not looking forward to it.. hate traffic, bridges, tunnells or whatever.. zzz!!
Carl on Shanghai FWIW...
http://theartofcontrariantrading.blogspot.com/2009/10/shanghai-update.html
I used to poke fun at people who took long lunches and left early on a trading day.. but now I realize that is in fact the true sign of a professional...
enjoy the weekend!
Fully loaded with HPJ now, just a daytrade so 1 hour of watching paint dry and im out win or lose : )
Man what a boring day.. and this CPRT just feels like its waiting for an excuse to collapse and yet slowly it keeps getting higher bids.. Fun but I guess could be worse?
I jumped back into HPJ.. joining the momo crowd.. but theres a big fat bid here at 3.65, so ill just be a wise guy and put my stop 3 pennies under what i paid at 3.64 heheh..
hey- why not.. Im ready for the weekend so either way I wont lose my head over a small loser here- wish i had this level head last week oy...
Watching real close to see if HPJ can take out this 3.8
Lotsa volume too..
CPRT im trying it one more time as a long.. and this is it, pos...
33.61, and ill stop at lod.. if nothing else its a good risk/reward in case it takes out 34 it could run..
id like to make money today again.. 2 days in a row a rarity lately : ( boo hoo..
gluck..
Tanks- I took the cover on the break of 45.. Ill come back and visit it tomorrow hehe.. I needed a good trade after all the junk trades I have been doing lately.. Been a real sloppy october for me im ashamed to admit : )
garlic, broccolli, mozzarrella and pasta tonight.. they cant take that away from me!
UTHR lod... May just blow right under 45 hopefully...
UTHR hanging on by a thread.. if it loses 45.3, I think shes sunk...
Im in with a small short at 45.6, its very whippy so a cover around 46.2 is in the cards if need be..
Carl right now is pretty much the onlyu techjnical person I listen to anymore.. He takes loses and he clearly ouitlines what and where, and isnt afraid to say it.. You wont find that anywhere else especially not for free.. Reminds me of an ex friend I had here and she would argue that you cant follow someones work, and that TA is great and she uses it all the time and makes tons and tons of money to travel aroudn the world.. but I cant post it in real time because it dont work that way.. Well, what way does it work then?? :)
I also read his book, probably the only TA book ill ever read..
shhhhh! they dont want to even discuss it let alone name it! God forbid we explain to the masses just how insane this all really is :)
I think when we get to 10k we can call it a bubble and then that would mean similar to the internet/.com bubble we will top off about another 2000 or so dow points higher : )
hehehe notice I didnt mind it when it was easy for me to make money? but now that its getting selective and im not having fun theres no joke anymore.. zzzzzzzz
Lately im trying to clawback every day! Did a nice hike this morning and it was breezy, incredible scenes with the fall and the colors.. Then I come back and 10 minutes into trading im down 500 buckaroos.. I use to do much better overall in the mornings but lately its the afternoons, that last hour that has worked..
How can I make the big bucks if they keep changing the game plan so often hehe.. I neeed a sure thing.. I need to start a pyrmid scheme.. or a chain letter asking for money.. something/anything! or start painting again :)
CPRT- Im long, a double position with a stop at 33.3..
Just love this kinda squeeze setup..
Heya Phil- it does look like from documents that there were a few times Maddoff didnt have enough cash to pay out Picower- it just makes you wonder how one single man was able to command such power over Maddoff, let alone walk away with 7 billion.. Also interesting is Picower is immediately ready to talk settlement.. Hes very intelligent- Im sure he realized from day one that if he was alive when the chit hit the fan he could easily deny it, and worse case pay back maybe 3-4 billion which im sure the trustee will grab with both hands because thats alot of loot to pay back some of the other folks with..
All in all the IRS, the SEC and the feds probably have alot of people sitting in those offices shaking right now because they all are involved in some way im sure.. I think if they break Picower? youll see hundreds of other names thrown out in all those agencies and who wants that?
They will settle with Picower.. His net worth is well over 20 billion.. He knows hes in the hot seat, and I doubt he can run to Israel where the bulk of his cash is because he pretty much screwed all of them which is ironic.. He has no way out but to pay a few billion but to him? thats nothing.. I put him at around number 5 or so as the worlds wealthiest.. Its just impossible to know what hes worth but he was worth a b illion when I knew him and that was decades and dozens of companies ago..
The joke is on all of us.. Im realizing that more and more with each passing day whether its loyalty to my country? or someone trying to sell me who god really is.. sucks as I get older so many dreams destroyed.. so many things I once held as truth all turned out to be lies and more lies.. sucks : )
O/T- Madoff material...
Courts add another 2 billion to the amount Picower took out bringing his profit off the scam to over 7 billion.. 7 billion, added to the fortune 400 list, what a fantastic success story maybe he should put some of that cash to work and run for politics? If he ever gets charged for all this money he stole thats no big deal- almost all our leaders are in the same boat- he would fit right in!
http://thegovmonitor.com/world_news/united_states/trustee-tells-jeffry-picower-to-return-7-2-billion-profit-from-madoff-scam-8320.html