I’ve been patiently waiting for the emotional spirits that drive the markets, especially when things get as volatile as they’ve been the last month, to play out before covering some of our many shorts or adding more names other than last week’s new purchase to the long side. And I might be dead wrong, as […]
There’s some legs to that rally out there…
She’s got legs, she knows how to use them. She never begs, she knows how to choose them. She’s holdin’ leg wonderin’ how to feel them. Would you get behind them if you could only find them? — ZZ Top There’s some legs to that rally out there. I’ve been writing an extended piece all […]
I think this market might finally be putting…
Another day, another rally. Ha, just kidding. But we are rallied up another 100 points in the DJIA this morning and it’s tried to stick so far. And I do think we’re getting closer to bottoming sooner rather than later. I’ll rephrase — I think this market might finally be putting in a bottom around […]
I’m starting to wonder if the selling is…
Flat day at the markets and that’s not a bad thing. Some steady base-building would be best, but regardless of what happens in the next couple trading sessions, I’m starting to wonder if the selling is closer to being over than started. I bought some Riverbed calls as noted and did a whole lot of […]
I’ve now finally stepped up and done my first purchase of some…
Trading is as much art as science. And while the “science” behind my bullishness on Riverbed hasn’t changed while it’s been crushed from the $40s to $20, I’ve been saying things like this about my approach to Riverbed: Q: What is your strategy, if any, moving forward with RVBD? A: I’d gotten rather lucky with […]
I will tell you the most positive development I’ve seen today…
Sweet-voiced daughter of Zeus from thy gold-paved Pythian shrine Wafted to Thebes divine, What dost thou bring me? My soul is racked and shivers with fear. (Healer of Delos, hear!) Hast thou some pain unknown before, Or with the circling years renewest a penance of yore? Offspring of golden Hope, thou voice immortal, O tell […]
Let’s get rolling…
If the good Lord had intended us to walk, he wouldn’t have invented roller skates. – Willy Wonka Good day to you and welcome back to the skating rink. I’ve seen several headlines trumpeting how “The Bulls Are Storming Wall Street” and what not…but the markets themselves are up just over 1%, and given that […]
Here’s a list of my positions both long and shorts in order of size as I head into the country…
Another incredibly wild, volatile week — a three week period for the record books. The markets are dealing out some serious punishment to the bulls (and so many of the bears I know have already covered and/or even been trying to buy the bounces that the bears are feeling the pain too). The weak hands […]
As I pulled out the driveway early this morning, my truck pops a tire…
As I pulled out the driveway early this morning, my truck pops a tire. Flat, dead. The air pump I retrieve from the barn’s got the wrong head on it so we replace it with one the right size. The air pump’s out of air so we go back and put more air into it. […]
Good morning and welcome back to the arcade…
Good morning and welcome back to the arcade. Put your quarters in and play your game. The markets started the days ugly, but have managed an intraday rally and there’s some green peaking through the screen. Marvell came through for us, as the report was pretty darn strong throughout — certainly better than the consensus […]
Don’t let the panicking public get in your head…
“Setting a goal is not the main thing. It is deciding how you will go about achieving it and staying with that plan.” — Tom Landry That was sloppy, ugly, nasty, slippery, etc-y. In yesterday’s chat, I’d had this discussion with a subscriber: Q: Do you think we’re gonna revisit or go lower than August […]
I’ve stepped up and done some buying despite the emotions taking over out there…
The markets are flatlined down 3-4% across the board today and as one analyst note smartly put it, “There’s just a complete buyer’s strike out there.” That, and there are obviously a lot of folks running for the hills. The emotions are running the markets right now. And emotions are tough to game day to […]
I’m going to go ahead and deploy a little bit of that this morning…
This morning brings us a retest of the lows. The traders/investors are, as I noted repeatedly the last couple days, feeling very emotional after the recent volatility. And that’s got them, as I’d paraphrased Janes Addiction in saying, “jumping out of their flesh because it hurts so bad to hold it in”. I’d also noted […]
Market insights from Jersey Shore and their star, The Situation…
You guys know how often I point out that the mainstream media’s explanations for a single day’s action in the markets is usually rather insultingly stupid? At least this reporter finishes her article with a punchline admission of what the real catalyst for ANF’s 10% decline today was. It wasn’t the Situation’s style choice of […]
Transcript from today’s chat…
I have your car towed all the way to your house and all you’ve got for me is *lite* beer? – Biff Tannen Here’s the transcript of today’s chat. We broke the questions and answers down into two sections as usual — Economy/markets/trading/strategy and Stocks. See you next week at 2pm EST at https://tradingwithcody.com/chat for more […]
Ask me anything at 2pm EST in our weekly chat…
There’s the fade that the bulls didn’t want to see. It’s not quite slippery out there, but it’s muddled. Breadth isn’t bad, at about less than 2 to 1 negative, but there’s no oomph out there. So be it. More importantly, I’ll be seeing you guys at 2pm EST for our weekly chat where you […]
I am starting with some common and calls…
Let me cut to the chase. I’ve got a brand new long stock pick for the portfolio. This name’s gotten crushed on no fundamental changes to its business during this big downturn, and we’ve now got the opportunity to buy the stock near 52-week lows and at very reasonable valuations. The company’s called Autodesk Inc., […]
Base building, Lobo hoops and this market…
“You gotta build a base.” 0.01% — that’s how much the Nasdaq is up as I write this. And that’s not a bad thing for the bulls at all, as I keep saying. Because building a base is important, as one of my old UNM Lobo basketball teammates used to say. He’s be eating donuts, […]
I’ve got a new name I’ll be pulling the trigger on tomorrow…
Some lyrics that likely capture the market’s mood out there to finish up the day: Comin’ down the mountain, one of many children everybody has their own opinion everybody has their own opinion holding it back hurts so bad jumping out of my flesh and i said – ‘Cash in! cash in now, honey!’ — Janes Addiction Everybody’s always got their […]
A time and place for everything and this isn’t the time or the place…
It’s slippery out there again today and my little “hey, it’s less than 1% today” statement didn’t last through the Ruidoso lunch time. You guys know what my stance is at this point — letting the markets play this phase out a little bit more. I bought more when the markets were lower last […]