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0eo2oo, spot on! eom.
OT
Lee Kramer wrote:
The Shadow Knows
Hey Lee,
I remember those lonely late nights when your nocturnal postings scrolled by like ships passing in the inky night. Perhaps trading in the digital ocean past midnight is now in the realm of the truly obsessed Seems I'm all alone here, so it's probably time to shut down and pray that I reboot in the morning....
Softechie? Timber? EOM
ADM,BMS,CB,KO,ED,EMR,KMB,JNJ,PPG,PG,AFL,EXC,CINF,KFT,LLY,YUM to name a few.
zab, current valuations are just too unattractive for *investing*, so I've only been option scalping. I do, however, have a bucket list of quality dividend stocks that I'd like to pick up at much lower levels.
MCAD, RSI & slow stochastic confirming EOM.
I'm with you zab - just sitting for now.
Keep the shade down - don't look out the window!
This decline is a bit too orderly - like some mild turbulence on a night flight. The dip buyers are belted in and wanting to go long. What the bears need is a nice white knuckle air pocket plunge that would scare the bejeebers out of everyone.
Ding! Ding! Ding! 1333 on the S&P 500 - this is the magic "top" that many practitioners of the economic dark arts and number mavens have predicted. Charts, numbers and Fibonacci vs the Bernanke
RE: POMO,Deficits,Bernanke,lying,cheating,scamming - Phil Davis has a great rant over on Seeking Alpha that pulls back the covers in a most entertaining way:
http://tinyurl.com/4j9tvj9
See,
Wow, there's a name I haven't seen for awhile - I actually traded MCZ a bit back when Bearmove was around. He was from San Diego and Mad Catz is there as well. Wonder what happened to him.
Lee, the Padres came close this year by carefully nurturing young talent, but once they show real promise they usually get traded away. Plus, we just lost our best bat - the golden gloved first base man Adrian Gonzalez. He was Mr. Padre. Oh well, still looking forward to opening day.
Go Padres! Sigh....
Poker,
RE: Egoic
Seldom used, older English.
http://en.wiktionary.org/wiki/egoic
Poker,
You may be interested in this detailed analysis of EW and topping predictions.
http://www.decisionpoint.com/TAC/VINCENT.html
INTELLECTUAL HUBRIS: The kind of performance documented here becomes possible when a trader or analyst turns the market into an ego driven intellectual exercise. Market analysis is not a game to prove that you are smarter than the rest of the pack or smarter than the market itself. I find Prechter's commentary and promotional propaganda saturated with entirely unwarranted egoic smugness that can only be compromising to the goal of staying on the right side of the markets. It's that sort of mentalilty which underlies and creates the psychological potential for a lack of trading discipline and a consistent practice of top picking.
Bought TZA @ 14.35 EOM.
oeo2oo, I've traded PFE over the years but I'm not sure I would want to *invest* in it right now. Here's a take on PFE that's in sync with my own DD on PFE:
http://seekingalpha.com/article/248018-8-cult-stocks-to-avoid-in-2011?source=hp_mostpopular
Zab, as a former denizen of the Burgh, I take offence at your spelling of my home town - it's Pittsburgh!
I expect this as well, but too many folks are calling for a top right now. And it looks like more dumb money is taking tentative steps into the market - need to pack the elevator a bit more before the cable snaps.
Sometimes the later I get up the more money I make Held a few GS FEB 19 165 calls overnight, got up late and sold them for +.48. If I had just slept in a bit more that would have been +.70.
Newly, I was up watching AAPL at the open - I wanted to pull the trigger for a trade but passed it by even though I *new* it was probably good for 10 points. Oh well, a subtle alarm bell from my subconscious was dinging: too easy, too easy. Should have hit snooze. AAPL could be a good candidate for a straddle into earnings, but I don't think the Jobs effect has hit home yet.
Newly, have to agree with you here. We owned our house for 30 years and never borrowed against it - sold at the top six years ago when we moved to San Diego. When we rented our brand new condo, which my landlord purchased with no interest and no money down, I tried to caution him that SD real estate was in a bubble. He just laughed, said that I was nuts, and advised me to buy the unit next to his as an "investment". We're still renting from him and the unit next door was foreclosed on last year. Meanwhile, he's currently $150,000 under water.
Newly, I can commiserate. As someone who has always subscribed to living below my means, I expect good value from the items I purchase. It really bugs me that my Target socks last less than six months. At least my van, which just passed its 17 year anniversary, is still running strong. And then there are my bicycles - how many vehicles weigh less than the item they're transporting and last a lifetime with a little maintenance. Tip: check Sierra Trading Post for high quality low cost clothing items.
Indeed, we're all subject to the inevitability of the Bell curve, but the quality of the ride, outliers aside, is mostly up to you.
Another variation: Eat healthy, exercise, die anyway
Newly, I think that cycling is better for alleviating boredom - it's the extended aerobic component in combination with the challenging ups and downs. Sweating is good for you. For instance, while climbing Mt. Soledad here in SD, it's tough going but you find a rhythm and get in sync with the climb - the temperature changes, the flora changes as do the sights and smells. You get to the top, look out over a good portion of the county, take a swig of water and then contemplate your descent to the ocean. Cruising down a steep hill at 40mph is not boring .
Newly, when I'm bored it's time to go for a long bike ride - gives you time to think while replenishing the body. Nothing like stressing the circulatory system, pumping extra oxygen to the brain and stimulating the visual cortex with fresh scenery. I've had some of my best ideas while cycling, or hiking for that matter. Rode our tandem from Portland OR to San Diego in 1989 and it spawned a new chapter in our life. Cure for boredom: bike, hike, travel.
Lee, speaking of algos - when you have time, here's an interesting Wired Mag article titled "Algorithms Take Control of Wall Street". Good read.
http://www.wired.com/magazine/2010/12/ff_ai_flashtrading/all/1
I have a carefully screened list of high quality dividend stocks that I want to write calls on or accumulate via selling naked puts. But not yet - better prices coming soon imho. BTW, interesting Forbes article here:
http://tinyurl.com/3yjzdzf
I think Newly would appreciate this quote from the article:
Anyone who has worked hard, lived within their means, and saved over the last ten years is getting taken advantage of, while anyone who screwed up or lived beyond their means is getting bailed out. It’s an upside down economy.
Lee, this reminds me of my weather induced epiphany moment - I was up on the roof of my house in Minneapolis after a two foot snowfall. It was windy, 12 degrees out and I had a rope lashed around my waist that was secured to the chimney. As I was shoveling it struck me that my only real problem in life was climatological, and that I could escape the tyranny of the snow and cold. So I did. One year later we cleaned out our 4 bedroom house, divested ourselves of 30 years of accumulated flotsam and jetsam and headed to San Diego. What a difference! I like bicycling in January sans frostbite. Life is good.
Oy Newly, I'm all Fahklumpt. As a non-practicing Jew, I wish you a Merry Christmas as well!
Doc...
I defer to your seniority - moops it is. Hey Lee, have a great holiday. BTW, do you retreat to the sanctuary of a Chinese restaurant while the Goyim have their day? That was always a Christmas tradition in my family - Chinese chow with all the other heathens
It's MOORS!!!
That's Moors, it's a misprint!
A "festival for the rest of us". Festivus includes its own idiosyncratic customs including the Festivus Pole (the analog to the Christmas tree) which was chosen for it's great "strength to weight ratio", "The airing of grievances" where you expound upon the foibles of your friends and relatives and concludes with "The feats of strength" where you have to picture Frank Costanza ripping off his shirt at the dinner table while screaming at George "...Festivus isn't over until you pin me George". BTW, Festivus has taken on a life of its own:
http://www.festivusweb.com/
The Doctor...
Padres heading to the playoffs. Can't wait to sit back at Petco Park, sip a cool one and watch the Padres spank the D-backs next week. BTW, currently reading Tim McCarver's "Baseball for Brain Surgeons and Other Fans". Fun read.
Gee Lee, it's takes a lot to pry me out of my chair here in San Diego. I'd miss my view of the bay and the ocean breezes
Although I'm not fond of mutual funds, I have a sizable position in the Hussman Strategic Total Return Fund: HSTRX It has returned over 8% during the past five years, and has never had a losing year since its inception 7 1/2 years ago. Anyway, when the current trading/investing environment looks dicey, it's nice to have a steady income stream to assuage the frustrated feelings from a crappy market.