It’s Friday. And it’s the last trading day of the year. And we’re going to close out the year at just about the exact same levels we started the year at. Aren’t you glad you didn’t panic when Greece blew up. Or when Greece blew up. Or when Italy blew up. Or when Greece blew […]
New short name
Markets are in rally mode, up 1%, making them about even on the year, which is what they were last week and twelve months ago too. We’ll see more pitches come our way and the only way to continue our vast ourpeformance is to be very different in our approach than just about everybody else. […]
Today’s Links: Obama drops Biden, BNY panics, and thoughts on gold
Here’s what I was reading and thinking about when I was working late into the night: 2012 – Things that will happen – I’ve read and re-read Bruce Krasting’s latest piece here, a fascinating look at the year ahead with lots of suprise predictions. My favorites include: “-Obama will drop Joe Biden from the ticket. Obama […]
Trade Like Dan Marino
“But the kick was never needed. The fake spike proved Marino was most lethal as soon as the defense dropped its guard” — NFL Films Drew Brees set the NFL record for single season passing yardage last night which now stands at 5087 yards. It was rather thrilling and you couldn’t have drawn it up […]
Merry Christmas and Happy Fiscal New Year!
The markets are closed on Monday so unless there’s some emergency, there likely won’t be any posts from me until Tuesday. In my experience, the markets tend to have a pretty strong upward bias as volumes and attendance and care is low from the pros, few of whom are working from their office or at […]
Three stocks, two longs and a short idea in a pear tree
I’m dreaming of a white Christmas. Just like the ones I used to know. There’s over a foot of snow on the ground outside on Silver Fox Ranch here in Ruidoso, NM, and it’s still softly coming down. Makes trading stocks seem a little insignificant, except for the fact it takes money to live here […]
Selling the last of the Akamai calls
It’s Christmas week, heading into a three-day Christmas weekend (no markets Monday) and we’ve got a bit of a rally on our hands today. FIO’s continuing its wildly volatile ways, now up nearly 20% from its recent lows which brings it back to where it was this time last week and which means its still […]
Buying some puts in this name
Last week, I detailed the Apollo analysis for you guys. Today, I’ve been putting in some bids on some May 2012 puts with strike prices in the mid $40s right now. I think APOL’s near-term earnings report, which will come in early January, is unlikely to spur much upside, but this isn’t a short-term bet […]
Near-term markets outlook and locking in profits on one trade
Howdy folks. It’s another range-bound into year-end day at the markets and that’s okay with us. As I’d hinted yesterday though, I do think we’re likely to finally see these markets break their trading range in coming weeks. There will be year-end window-dressing by both shorts but mostly by the longs and there will be […]
Updated and detailed analysis on LPS
Last week I told you about my newest short, Apollo Group, Inc. APOL +3.08% . New ideas are great but that doesn’t mean we take our eye off our slightly more vintage ones. With that in mind there are pretty significant developments at Lender Processing Services, Inc. LPS +0.07% that merit us taking stock of our short position. Back in March […]
Latest positions
Big spike up in the markets this morning, led by tech. We are indeed ending up in that rangebound market into year end that I’d been expecting. The VIX has continued to plummet and we’re down to just a handful of trading days left in the year. Wouldn’t shock me to finally see some year-end […]
Today’s Links: Great TA, Apple TV, and Ford vs Carter debate
Here’s what I was reading and thinking about this morning. If you are a advocate for technical analysis in your trading, I highly suggest you start reading the first three guys I link to there. They are some of the best stock technical analysts on the planet. Let’s test these levels then. Gary Smith’s Market […]
Morning updates: Snowstorms, short stories and Xmas rock
It’s Monday and I can see the storm blowing over the mountains and enveloping the land around me. I meant the snowstorm here in Ruidoso — not making too much of an allegory there. Too much of one anyway. I’m doing a big update on LPS so stay tuned for that. Long story short (or […]
Today’s links: LPS, Cablevision Fitch and more
Here’s what I was reading and thinking about when I wasn’t out looking for a Christmas Tree at sunrise this morning. On my own land. I love New Mexico. Financials Lead Despite Fitch Downgrade – It’s remarkable, truly astonishing, that anybody cares what the ratings agencies say anymore. Subprime CDOs were AAA-rated by these idiots. The […]
Big trade update: LPS stands for Loser Processing Services
LPS has just tanked nearly 10% in the last few minutes as news hits that…well, here: LAS VEGAS –Nevada’s Attorney General has filed a lawsuit for consumer fraud against Lender Processing Services, or LPS, which is a company accused of robo-signing. “The robo-signing crisis in Nevada has been fueled by two main problems: chaos and speed,” […]
Wait for the right pitch
Good morning and welcome back to the dishwasher, where you better not forget to put in the detergent. Let’s talk RIMM first. Sigh. Stock is down today, after another horrid report, and I guess I was wrong to guess that the stock had priced it all in. Mea culpa. The puts are essentially worthless, so […]
Markets and a couple trade updates
Not much action in the broader markets to write home about today. It’s been a day of mild bidding and little selling, and traders finally seem to want to catch their breath. Could be the quiet before the storm. Or it could be the quiet before the quiet before the storm. I’d lean towards the […]
Risky earnings trade
You guys know that I had RIMM as a short in the Revolution Investing portfolio back when it was above $100. Yes, $100, nearly 10x it’s price today. And I’ve stayed away from the name as its continued to crash. But you know what…at a new 52-week low today, down more than 70% on the […]
Another trade and don’t forget today’s chat at 2pm EST
Just a quick note — the markets are trying to bounce off their lows of the day. We might see some wild intraday action today, but I wouldn’t want to try to profit on it. I did buy some more FIO here. I bough a little more common stock in FIO and I bought some […]
Specifics on the new short trade and a new pair trade idea too
Well, unless we bounce from near these levels, we can forget about my whole 5% rangebound market. On the other hand, how about those metals? Remember when I’d written: Q. Cody, a short time ago, you hinted at a possible SLV straddle. What are your thoughts? Thanks Cody! A. I still think that buying volatility and/or […]