It sure felt like the market was down a lot more than just one-quarter of one percent today, but that’s all that the was down. I heard a prognosticator give and get serious respect in calling for a DJIA 10k target by October when I changed the Sirius from Howard Stern to CNBC this morning. […]
I did however start buying some more…
Current headline: Stocks Trade Lower After 5 Losing Weeks– AP Stocks were just slightly lower Monday after losing ground for five straight weeks. That about says it all, doesn’t it? Five straight weeks of losses in the markets and another down day. I told you last week that if we’d get another big down day […]
Our short LPS is down another 2% today…
The bears and shorts sure pushed the selling hard this morning, trying to break the bulls. At one point earlier this morning, the S&P was down 10 in a straight line, but a little intramorning bounce has chilled out both sides here early in the week. Our short LPS is down another 2% today […]
I’m planning to buy some new call options in…
Last week, I read a fascinating report predicting that Internet traffic would quadruple between now and 2015 which got a lot of press — 286 hits on the topic in Google News right now: Cisco Predicts 15 Billion Network Devices in 2015 PCWorld – Grant Gross – 4 days ago Internet traffic will increase by 200 exabytes between 2014 […]
Okay, into the close we go and it’s gotten uglier, softer, fadier…but it’s not really a full-blown meltdown. I did step up just now and buy some Adtran near $40 a share. That’s it for the day and for the week though. I’m gonna go get my chainsaw and clear my mind while clearing […]
We’ve got a plethora of picks that are…
It’s been a long short week, if you know what I mean. The markets overall are soft and seem to be getting softer. It wouldn’t shock me to see a meltdown into the close, perhaps another 50 or 100 points lower on the DJIA. Not that we can game or try to profit from such […]
Today’s job report and your portfolio…
Heard about today’s jobs report and how important it supposedly is for your portfolio? Let’s see the headlines: Job growth anemic in May • Stalled economy? Nothing to be done (First Take) | Jobs worse than worst estimates: Johnson Stocks Firmly in Red on Weak U.S. Jobs Growth U.S. Adds Only 54,000 Jobs in May […]
And before I go, just 24 hours after you guys read…
The trading day just flew by today, as I was working on these silver and gold and other charts and analysis and getting that information out to you guys. Only the silver trades for me today. It was N’s over Ss, meaning that the Nasdaq was stronger (in this case, even up on the […]
I’ve just added to my puts and short in the…
Let’s update our stance, remind you of our positioning and talk about what I expect next for our silver and gold positions. To review, when silver started “dislocating” (see this, this and this) a few weeks ago, it was a flag in my playbook to start building a short position in both silver and in […]
Here are my current positions, from largest…
After yesterday’s aggressive sell off, with the DJIA closing near its lows of the day and down more than 200, a steady open like today is probably a victory for the bulls. But then again, there’s still a lot of trading action to go today and it wouldn’t shock me to see a fade into […]
We were in the green on six positions today…
We were in the green on six positions today…each and every one of our shorts made us money on the day and each and every one of our longs lost us money on the day. That’s why we hedge, that’s why we have both longs and shorts and calls and puts — because sometimes it […]
Alas, the iPad, iPhone and Mac marketshare success stories…
I read a lot of analyst notes every morning as I prepare for my day, and I have been for years, and every once in a while, you really makes you think. Such was the case last night as I sat down and read Bernstein’s most recent note on Apple, in which the analysts […]
It’s gotten ugly out there as the day has traded on, and it’s not getting prettier. Celestica and Nuance are both down over 2% on the day and most of the stocks are down about 1%. It’s a broad sell off, and that’s part of the game. Riverbed’s rocking another 2.5% higher, and that one […]
I’ll also likely continue to look to add to my…
This morning’s action is almost exactly the flipside of yesterday morning’s action — we’ve got bad breadth with two-to-one decliners and a slightly down open. Most of the mainstream media outlets are focused on trying to game the end of QE2, which they have decided is the most important Fed program to focus on…hmmm, I […]