wow, but I had an order in all day for LNDC and just got hit for 9 shares, I don't always do a AON. oh well. it all adds up.
I forgot where I read about Silver and Gold retracing, when I find it I will post it. sometimes thats why I post articles I read here to keep track, it's like a good filing cabinet.
market was awesome today, should be fine tomorrow and next week.
CODI took off like a rocket on me also. I love those hammers at the close, somethings cooking.
By Jonathan Chen Created 08/11/2011 - 10:19am Posted on 08/11/11 at 10:19am by Jonathan Chen [1]
Did yesterday mark the bottom in equities?
We will see over the long term, but Donald Trump is betting we are closer to the bottom than not.
He went on CNBC [2] this morning to discuss his recent purchases, which he made yesterday.
"I'm not a stock person," Trump said. "I love real estate, but good real estate is very hard to get."
As he is not getting any interest on CDs, Trump said that he purchased a basket of blue-chip names. He purchased Bank of America (NYSE: BAC [3]), Citigroup (NYSE: C [FREE Stock Trend Analysis] [4]), Caterpillar (NYSE: CAT [5]), Intel (NASDAQ: INTC [6]), Johnson & Johnson (NYSE: JNJ [FREE Stock Trend Analysis] [7]) and Procter & Gamble (NYSE: PG [8]).
"I love these companies. I've watched them for years and I've never owned stock in them," Trump went on to say. "I went out yesterday and said, 'Look, I'm not getting interest on CDs...so I went out and bought some stock."
"It's just something I've never been much into and now I decided to do something about it," he said of the purchases. "We'll see what happens. Who knows if it's good?"
March 2009 was famous for having Mark Haines, may he rest in peace, be the bottom of the Great Recession. Haines called the bottom on March 9, and stocks rallied from there on out. Was Haines responsible for putting the bottom in stocks? No, of course not. As a CNBC employee, he was not allowed to own any stocks except for General Electric (NYSE: GE [9]), which owned CNBC at the time.
This is more fodder for entertainment and a few laughs, but it is a sign that the market bottom could be nearer than many of us think, especially if Trump is willing to stick his neck out and purchase stocks.
Europe has not been solved in the past few days, and it does not look like it will be solved anytime soon. If the EFSF can get up and running, then that is all clear sign, especially with China now saying it will buy bonds from the EFSF.
Not quite ready to call this the "Donald Trump" bottom, but it's better than having him say, "You're fired" another hundred times.
ACTION ITEMS:
Bullish: Traders who believe that Donald Trump going on TV talking his book was the bottom might want to consider the following trades:
Go long what the Trumpster did. These companies more likely than not will be around five years from now, perhaps in different form. Bearish: Traders who believe that Trump should stick to real estate may consider alternate positions:
Short Trump. He is someone who has never looked out for anybody's interests but his own. Bank of America may need to raise more capital, and Citigroup continues to deal with problems. Intel has been dead money for years, and Johnson & Johnson has more problems then it can solve. http://www.benzinga.com/print/1851348
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