The buying had nothing whatsoever to do with Obama’s speech which was vacuumous at best. It had everything to do with foreign releases and technical buying.
It’s a squeeze but I don’t think it will work, July’s lows are a coming off…covered my short position and watching to see how it plays out. Nice observation Jason.
Turn cycle dates are now in effect! To repeat, they are often identified as the last two trading days of the old month and then the first four or five trading days of the new month.
They are seasonally bullish due to institutional buying and other factors. HW
Hold the phone guys.
Of course, the Speech is released to the press before he speaks.
They just don’t release it to the public.
See I did learn something at Michigan State.
Did you know when you kick the bushes—they kick you back.
Howard, you are most likely right..I just guessed…
Sometimes parabolic moves in the market are quickly reversed. However, we are still in
the seasonality bullish sequence, so sideways to slightly ‘up’ is on the menu until we get
out of this time frame. (i.e., keep the pit bull on a tight leash in the yard and then
and let him run loose after Labor Day and let’s see which way he goes). HW
We are still long Apple and St Jude and that goofy stock Crox. We took a small ouchie on Devry.
As you can tell, I don’t Day trade the indices. When I was on the floor I did. Now, I think there is plenty of action in stocks.
You know, if people are saying Apple is going to 300 per share, where do you think the market is going?
You can’t have one without the other.
And the Obama administration needs to get things going before the election. Obviously the populace is unhappy.
But think about it? We could get two more years of gridlock.
Oh, about that “pit bull” if he runs out of the yard, you might get arrested. Those dogs can be vicious.
I prefer an Irish Wolfhound or Jewish Werewolf.
Neal: I recently bought a cocker spaniel named Max. I got him from the ASPCA. Max does all of my day trading for me. He does not like Crox. They don’t have a size that fits him. Not yet, anyway. HW
Oh, forgot to mention the President’s Speech is released to the media before in goes “on the air.”
Sure it leaks. What did you think?
Some traders are equal than others.
Some are more equal.
Some know how to get the edge.
In fact, the news media needs to get it first so they can comment and get it out.
That’s what friends are for!
Apple is up about four dollars and we have long since 198.00
But I think I will scalp out of Crocs if we get up today or next week.
Still staying with SBUX…hey, if I were that smart I would be in downtown France.
Where is that anyway?
I’m still not buying in Jason, that pattern off the April highs is still targeting lower, if this bounce wasn’t so programmed and came at the goal line I would be inclined to rethink. have a good weekend
Jason said something very important today. That the first trade is always the easiest, because you’ve got so many traders headed to the exit doors when they find that they
are on the wrong side of the tracks.
One thing that I’ve noticed in particular is that you’ve got quite a few of
these panic up days and panic selling days as well. I’m
not really sure what that means, but Jason brings out a
very good point about the behavior of both day and swing
traders alike. HW
Hi gang! Let’s see what happens in the first hour of trading today.
That sounds like a broken record, but…it could be a sampling
of what to expect for the rest of this shortened trading week.
Shalom….peace out to all of my Jewish brothers and sisters. HW
This is going to be a choppy week.
Which reminds me of the drunk who enters a bar by the front door and his thrown out.
And then enters thru the side door and is thrown out.
He then tries the back door.
And again, because he is drunk is thrown out.
Now he goes thru the open window!
And is about to be thrown out again and says to the bartender, “Man you work at a lot of bars.”
So the idea here is does not matter how you approach the market, it is always there to find ways
of taking your money. You do not need to trade everyday. As one floor trader said, “Not doing business can be the best trade.”
The fastest animal in the jungle does not go after fast prey!
YES, still long Starbucks, Apple and St. Jude.
Bought some GLD last week. Only because I wrote a book on ETF’s with Larry Rosenberg,former Chairman of the Merc….also just a little hedge with the election coming up!…
Anyone coming to chicago on November 12th?
If not, cool too. November gets to be chilly here!
Hi gang! The Jewish holidays start this evening. More importantly, we are on the cusp of getting out of the end of month/beginning of the month bullish cycle which is once again,
the last two trading days of the prior month and the first four or five trading days of
the new month. Sometimes, but not always, this can be exacerbated if there is a legal
holiday intertwined into the mix. Caveat empor. Let the buyer beware. Especially now. HW
There are additional formations that should be considered as well, e.g. from the May low, you can make a case for a triangle formation with last week’s rally being an ending “E” (of an ABCDE triangle) which may have ended on Friday. As long as this advance does not break above the August high (point D of the triangle), this triangle interpretation is valid. Given the preceding down move prior to this potential triangle, the expectation would be for break down in the direction of the downtrend since the April high with a tatget of 870-950.
With this kind of volatility, you gotta cut down on your size.
Not worth it you say. Well, look at at what 50 shares of Net Flix would have earned you. Not great, but less risky that Corn Futures. Speaking of grains, if you trade the grains, you gotta do it as Spreads. So if you buy Wheat, be sure it is Kansas City Wheat and Short Chicago (cookie and cake( Wheat.) Look, I have a series 3, but I do not, that is not as in “nada” handle customers. But I can suggest one thing, if you trade Futures you should consider taking the Series 3 exam….if even for practice. Now, most of you won’t…that is why you may consider easing up on Size.
the big number is Friday.
We are moving slightly positive with Crocs, and Starbucks.
You know Starbucks promised they would never serve flavored coffee.
What is with this Vanilla stuff.
May take a look at GLD an ETF or maybe some metal.
But Apple looks strong and if it goes to 297…then the Dow should go to!
Anybody own a Mac, I phone, Nano or I Pad.?
Have you seen an Apple retail store…It s like a cocktail party in those places.
I am staying long into the report on Friday.
Yes, I is!
Hi Jason! Let’s understand one thing. You make a good point about computer trading. And maybe that phenomenon did not exist a few years ago. But in the final analysis, it’s the human element that gets involved with the direct cause of market movement, and ultimately computer trading. HW
Howard I don’t entirely agree. We humans can program computers to do things that we cannot do, so just because it was a person who programmed the computer in the first place doesn’t mean it’s the humans which are causing the movement.
Shalom….peace out brother. HW
“this week’s Earnings Reports” and “this week’s Economic Numbers” links are wrong (noticed this on other recent blog entries as well).
Thanks…I’ll fix the links with tomorrow’s post.
Last night the futures jumped in anticipation of the President’s speech. It’s up to you to figure out who did all of that buying. HW
I don’t buy that (unless someone somehow got a hold of the speech 2 min before the close).
I think the hedge funds….over sold everyone must cover. I am staying long.
the hedge funds do not participate in aftermarket hours.
the volume is just too thin. must be someone else. HW
The buying had nothing whatsoever to do with Obama’s speech which was vacuumous at best. It had everything to do with foreign releases and technical buying.
It’s a squeeze but I don’t think it will work, July’s lows are a coming off…covered my short position and watching to see how it plays out. Nice observation Jason.
whats it with the first of the month, does anyone remember how the 1st of August started. Major rally, sideways and then the rest is history.
Turn cycle dates are now in effect! To repeat, they are often identified as the last two trading days of the old month and then the first four or five trading days of the new month.
They are seasonally bullish due to institutional buying and other factors. HW
Hold the phone guys.
Of course, the Speech is released to the press before he speaks.
They just don’t release it to the public.
See I did learn something at Michigan State.
Did you know when you kick the bushes—they kick you back.
Howard, you are most likely right..I just guessed…
Sometimes parabolic moves in the market are quickly reversed. However, we are still in
the seasonality bullish sequence, so sideways to slightly ‘up’ is on the menu until we get
out of this time frame. (i.e., keep the pit bull on a tight leash in the yard and then
and let him run loose after Labor Day and let’s see which way he goes). HW
We are still long Apple and St Jude and that goofy stock Crox. We took a small ouchie on Devry.
As you can tell, I don’t Day trade the indices. When I was on the floor I did. Now, I think there is plenty of action in stocks.
You know, if people are saying Apple is going to 300 per share, where do you think the market is going?
You can’t have one without the other.
And the Obama administration needs to get things going before the election. Obviously the populace is unhappy.
But think about it? We could get two more years of gridlock.
Oh, about that “pit bull” if he runs out of the yard, you might get arrested. Those dogs can be vicious.
I prefer an Irish Wolfhound or Jewish Werewolf.
Looking GREAT, Jason !!!! Great interview.
Neal: I recently bought a cocker spaniel named Max. I got him from the ASPCA. Max does all of my day trading for me. He does not like Crox. They don’t have a size that fits him. Not yet, anyway. HW
Hey visit the Crocs page. They are expanding. Now if I could only get Steve Jobs to wear a pair.
Neal
Oh, forgot to mention the President’s Speech is released to the media before in goes “on the air.”
Sure it leaks. What did you think?
Some traders are equal than others.
Some are more equal.
Some know how to get the edge.
In fact, the news media needs to get it first so they can comment and get it out.
That’s what friends are for!
Jason enjoyed the interview
We really have to see what happens after Labor Day.
The cycles really spin around the holidays.
Or they appear to do this!
Apple is up about four dollars and we have long since 198.00
But I think I will scalp out of Crocs if we get up today or next week.
Still staying with SBUX…hey, if I were that smart I would be in downtown France.
Where is that anyway?
I’m still not buying in Jason, that pattern off the April highs is still targeting lower, if this bounce wasn’t so programmed and came at the goal line I would be inclined to rethink. have a good weekend
Jason said something very important today. That the first trade is always the easiest, because you’ve got so many traders headed to the exit doors when they find that they
are on the wrong side of the tracks.
One thing that I’ve noticed in particular is that you’ve got quite a few of
these panic up days and panic selling days as well. I’m
not really sure what that means, but Jason brings out a
very good point about the behavior of both day and swing
traders alike. HW
Hi gang! Let’s see what happens in the first hour of trading today.
That sounds like a broken record, but…it could be a sampling
of what to expect for the rest of this shortened trading week.
Shalom….peace out to all of my Jewish brothers and sisters. HW
This is going to be a choppy week.
Which reminds me of the drunk who enters a bar by the front door and his thrown out.
And then enters thru the side door and is thrown out.
He then tries the back door.
And again, because he is drunk is thrown out.
Now he goes thru the open window!
And is about to be thrown out again and says to the bartender, “Man you work at a lot of bars.”
So the idea here is does not matter how you approach the market, it is always there to find ways
of taking your money. You do not need to trade everyday. As one floor trader said, “Not doing business can be the best trade.”
The fastest animal in the jungle does not go after fast prey!
YES, still long Starbucks, Apple and St. Jude.
Bought some GLD last week. Only because I wrote a book on ETF’s with Larry Rosenberg,former Chairman of the Merc….also just a little hedge with the election coming up!…
Anyone coming to chicago on November 12th?
If not, cool too. November gets to be chilly here!
Hi gang! The Jewish holidays start this evening. More importantly, we are on the cusp of getting out of the end of month/beginning of the month bullish cycle which is once again,
the last two trading days of the prior month and the first four or five trading days of
the new month. Sometimes, but not always, this can be exacerbated if there is a legal
holiday intertwined into the mix. Caveat empor. Let the buyer beware. Especially now. HW
There are additional formations that should be considered as well, e.g. from the May low, you can make a case for a triangle formation with last week’s rally being an ending “E” (of an ABCDE triangle) which may have ended on Friday. As long as this advance does not break above the August high (point D of the triangle), this triangle interpretation is valid. Given the preceding down move prior to this potential triangle, the expectation would be for break down in the direction of the downtrend since the April high with a tatget of 870-950.
With this kind of volatility, you gotta cut down on your size.
Not worth it you say. Well, look at at what 50 shares of Net Flix would have earned you. Not great, but less risky that Corn Futures. Speaking of grains, if you trade the grains, you gotta do it as Spreads. So if you buy Wheat, be sure it is Kansas City Wheat and Short Chicago (cookie and cake( Wheat.) Look, I have a series 3, but I do not, that is not as in “nada” handle customers. But I can suggest one thing, if you trade Futures you should consider taking the Series 3 exam….if even for practice. Now, most of you won’t…that is why you may consider easing up on Size.
/Dow 12000.com
My understanding is that you have to be sponsored to take one of these exams? True?
http://www.cmegroup.com/education/events/2010-08-25-26-ifm-futures-and-options-series-3.html
at 7 bills a pop I’ll delay that one and stick to all the free stuff.
the big number is Friday.
We are moving slightly positive with Crocs, and Starbucks.
You know Starbucks promised they would never serve flavored coffee.
What is with this Vanilla stuff.
May take a look at GLD an ETF or maybe some metal.
But Apple looks strong and if it goes to 297…then the Dow should go to!
Anybody own a Mac, I phone, Nano or I Pad.?
Have you seen an Apple retail store…It s like a cocktail party in those places.
I am staying long into the report on Friday.
Yes, I is!
Hi Jason! Let’s understand one thing. You make a good point about computer trading. And maybe that phenomenon did not exist a few years ago. But in the final analysis, it’s the human element that gets involved with the direct cause of market movement, and ultimately computer trading. HW
Howard I don’t entirely agree. We humans can program computers to do things that we cannot do, so just because it was a person who programmed the computer in the first place doesn’t mean it’s the humans which are causing the movement.
It reminds me of the movie War Games.
Why can’t I see what Jason said?
Is that somewhere else on the page?
Neal
Everything I wrote is above…there isn’t any other place to look.