Falling Wedge

That Worked Out Well.

noreply@blogger.com (Unknown) — Wed, 23 Aug 2006 17:43:00 +0000

The S&P made it up to 1300 and was rejected exactly like I said it would be in this blog. IWM is the biggest percent loser in the group of DIA, QQQQ, SPY, MDY, IWM so it looks like I picked the right short to boot.

Brutal pump and dump this morning.

Tags: trading, IWM

Taking Today Off...

noreply@blogger.com (Unknown) — Mon, 21 Aug 2006 18:29:00 +0000

In honor of the Yankees/Red Sox game.

Holding IWM short.

Good luck to everyone today.

Tags: trading

Cody Willard...

noreply@blogger.com (Anonymous) — Fri, 18 Aug 2006 14:17:00 +0000

The latest entry to Cody Willard's Blog on RealMoney.com...

Fear and Leveling on Wall Street
9:55 AM EDT
Who's more scared, bulls or bears? Both sides have a lot to lose right now

U-s-e-l-e-s-s.

We know Willard, you're in all cash and proud. What a great hedge fund you must run. A savings account with a shitload of fees.

Give me a break.

Tags: TheStreet.com, Cody Willard

Short Some XLE

noreply@blogger.com (Anonymous) — Fri, 18 Aug 2006 14:14:00 +0000

Shorting a small amount of XLE looking for it to break through the 50 day SMA.

Tags: trading, XLE, ETF

Small Craps Cah-rashing

noreply@blogger.com (Anonymous) — Fri, 18 Aug 2006 14:10:00 +0000

Everyone wave bye bye to the Rascal 2000.

Tags: trading, IWM, ETF

Mark Haines

noreply@blogger.com (Anonymous) — Fri, 18 Aug 2006 13:53:00 +0000

CNBCTV's Mark Haines, in his typical sing-song voice, just belted out "shares of HPQ and DELL are surging this week, is it too late to get in?".

I know you only work once or twice a week, Mark, but is it too much to ask for you to have some sort of remote clue of what is going on around you?

He'll read (sing) anything you put on that teleprompter.

Mark Haines, the Ron Burgundy of CNBC.

Tags: Mark Haines, CNBC

Was DULL a Classic Pump and Dump Or What?

noreply@blogger.com (Anonymous) — Fri, 18 Aug 2006 13:10:00 +0000

I reckon a lot of folks were snookered by the pros who bought DELL up on the exploding battery recall news. There was a boatload of distribution yesterday as the big money who ran the shares up moved them to the accounts of retail investors who were looking for a reaction similar to HPQ. People would be so much better off if there were people on TV teaching them how to read a chart rather than watching the Gazzz Bag throw foam bulls at a monkey dressed as a Geisha.

I'm holding short here. The MO decision will be a perfect way to mask distribution in individual sectors while keeping the 'front page' index from looking too ugly. If this the boys' game plan, then we probably won't see any major declines until next week.

I've still got a lot of cash raised from the SMH campaign, and the nice scalps on the mini-reversal of the IWM yesterday helped me regain my footing.

We'll see how the day develops.

Tags: DELL, HPQ, Cramer, MO, crooks, SMH, IWM, trading

Hilarious.

noreply@blogger.com (Anonymous) — Thu, 17 Aug 2006 18:02:00 +0000

I'm continuing my short scalps on the IWM. It's not easy work, but someone's got to take the other side of the buy programs' trades. We hit SPX 1300 like I've been calling for (although sooner than I thought we would get there) so this could be it for a little while. That's where my money is, anyway.

Anyone listening to Cramer Radio is probably spitting up their drinks laughing listening to him proclaim that 'tech isn't dead' after the SMH has rose from 30.50 to 33.

I guess barking up the wrong oily tree has been just too painful for his ego.

Tags: Cramer, Oil, IWM, SPX, SMH, ETF, trading, Real Money

Just Layed the Short Scalp On

noreply@blogger.com (Unknown) — Thu, 17 Aug 2006 15:43:00 +0000

Shorted IWM @ 71.01, .20 trailing stop. Decent sized short, bigger than the nibbles I was doing yesterday.

Ok, back to the fetal position.

Tags: trading, IWM, ETF

Speaking of the Gazzz Man...

noreply@blogger.com (Unknown) — Thu, 17 Aug 2006 14:46:00 +0000

Cramer has been pumping oily stocks all week long while the market rotates out of "King" HAL and into the SMH. Nothing like getting bullish on the wrong sector when the market finally does turn, eh, Gazz Bag?

Ugly.

Tags: Cramer, Haliburton, SMH

The Gazzz Man

noreply@blogger.com (Unknown) — Thu, 17 Aug 2006 14:20:00 +0000

Cramer Vs Chimp

No Comment.

Tags: Cramer, Mad Money

Almost There...

noreply@blogger.com (Unknown) — Thu, 17 Aug 2006 14:11:00 +0000

IWM is approaching its 200 day SMA @ 70.71. I'm going to be attempting a decent sized scalp at these levels in an attempt to repair this trade.

Tags: trading, IWM, ETF

Market Rallies

noreply@blogger.com (Unknown) — Thu, 17 Aug 2006 11:43:00 +0000

A trader who I often talk with during the day had the following to say about market rallies.

Even when I'm making money on the long side I hate one thing about market rallies: it brings out the morons in droves. Just look at the kind of stupidity being posted here this evening. I can't stand to read it. One guy claims the market cap of INTC went up by more than that of AMD today so he wins. Another claims that a short interest of 1.2% indicates that 98.8% of some population (he wasn't specific enough to identify exactly what he thinks he means) is bullish therefore INTC must be going up. Good God, I realize having such ignorance operating in the market makes it easier to make money, but I still find the ignorance itself rather revolting. I may have to stop reading this crap for a little while.

There are lots of retards on the long side in a stock like Intel (INTC). It's no so much that they are stupid in other walks of life (or at least this is what I like to tell myself), it's just that they aren't able to relate to the financial markets. In every other situation in their life they are taught to pick a side and route for that side until the bitter end.

Be a Democrat, Hate the Republicans.

Be a Yankees Fan, Hate the Red Sox.

Be an American, Hate the Soviets.

They try to apply this logic that works just dandily for them normally to a liquid situation like the stock market and it, quite frankly, makes them act like complete fools. The gentleman who noted that INTC's market cap had grown more than AMD's sounded eerily like one partisan political commentator from the CNN show Crossfire attempting to 'win' a debate with the other. He was supporting the home team. Standing erect. Staying loyal for the long term. For better or for worse.

The fact that people are conditioned to think like this is why we, and every institution on the planet with access to a computer and internet connection, are able to take these people's money day after day after day.

Tags: trading, Cramerica

Selling More IWM

noreply@blogger.com (Unknown) — Wed, 16 Aug 2006 16:51:00 +0000

Selling a little more IWM here, 70.15.

I'll get more serious about this at the 200 day SMA, like I said.

Tags: trading, IWM, ETF

Buy Program

noreply@blogger.com (Unknown) — Wed, 16 Aug 2006 14:54:00 +0000

Holding my smaller IWM short. I still believe RUT 700.0 could fail. If it moves up I will get more short at the 200 day SMA.

Tags: trading, IWM, ETF

I'm Just A Small Small Stock...

noreply@blogger.com (Unknown) — Wed, 16 Aug 2006 14:29:00 +0000

With a small small cap.

And gittin smaller!

Whuh-oh, hold on, Mortimer!

Tags: trading, ETF, IWM

Why Can't We All Just Get Along?

noreply@blogger.com (Unknown) — Wed, 16 Aug 2006 14:01:00 +0000

Because it's just too fun to take the money of the penny ante 'operators' like Nailzzz Dykstra.

The AMAT Jan 12.5 Call is trading @ 3.3 x 3.5

To his credit, Lunnard said to buy in @ 3.3 in his article, but I know when I was reading it they were already trading at 3.7. Either way, AMAT is down 2%, and the market is reversing so things don't look good over there.

I got short IWM on the second move up, but alas, not as much as I would have liked. Oh well, rarely is there a day where I feel like I did everyting exactly right. I didn't think the SPX could break 1288. It did, but it's gone right back down there. If we see another buy program I'll sell to that one too. I think the weak put holders have either sold back to the market makers or hedged enough that they are ready to flip this burger over and grill the other side.

My short position is a work in progress and I do have a stop set to bail me out if we quickly shoot to a new HOD at which point I will reevaluate what's going on.

Today was really set up to be a sell off day, but with Suze Orman of all people posting articles on how short ETFs you had to figure getting short last night was just too easy.

Not that too easy never works.

Right, Nailzz?

Tags: trading, AMAT, IWM, ETF, Lenny Dykstra, Suze Orman, TheStreet.com

Mikey Splinter Slept Through Lunny Dykstra's Victory Party

noreply@blogger.com (Unknown) — Wed, 16 Aug 2006 13:06:00 +0000

Could this guy have sounded more bored during his conference call? I guess they can't all be Johnny Chambers, Nailzz!

Whuh-oh, let's see where them calls open up!

Tags: TheStreet.com, Lenny Dykstra, AMAT

Boooo CNBC. Hooray Pump!

noreply@blogger.com (Unknown) — Wed, 16 Aug 2006 12:53:00 +0000

Well, I got the pump I wanted.

Now comes the tricky part, daytrading this thing up and at the same time looking for the short term top. Looking out into the future a little bit I see us making a short term top here with the final pump coming after the next fed meeting in September when Bunjuman says whatever it is he's going to say. Of course, this is just talk for now, we have to see what our setup is going into that event.

IWM is my short candidate. When I see the top being formed I'll start to go short IWM. Cathcing the reversal is always dangerous, but it's how you make the big loot.

Tags: trading, IWM, SMH, ETF

Sold the Last of the SMH; CPI tomorrow.

noreply@blogger.com (Unknown) — Tue, 15 Aug 2006 18:57:00 +0000

Sold the last of the SMH @ 32.02.

All in all, a good trade starting @ 30.57 and scaling out on the way up to 32.02. It's all about the low risk entry points as a fellow trader said to me earlier today.

While a short of the up-two-percent IWM is very tempting here, I can't bring myself to gamble infront of tomorrow morning's circus. I'll sit here in cash and watch the action carefully tomorrow morning. I'm prepared to ride it up again using moderatley sized trades with responsible stops, but I'm on the lookout for a shortable top.

If the boys in Chicago don't pump the futures tomorrow morning it'll be a total bummer, but honestly I can live with it if the market stays range bound.

On a sidenote, in the last two hours Gazzz Bag was calling for both a final hour sell off and a short squeeze in the QQQQ. I guess being dead wrong pumping oil/infratrstucture all week hasn't been the best possible thing for his mental health.

Tags: Cramer, trading, IWM, SMH, ETF, CPI

Admit It

noreply@blogger.com (Unknown) — Tue, 15 Aug 2006 15:54:00 +0000

You keep thinking that mid-day reversal is coming, don't you?

Staying 10 paces away from my screens is helping me avoid Bear Traps.

Tags: trading

The Gazzz Man Speaks

noreply@blogger.com (Unknown) — Tue, 15 Aug 2006 15:23:00 +0000

From Cramer's Blog on RealMoney.com:

Scared Shorts Are Making Deere Leap
11:03 AM EDT
Shorts are liquidating their put positions, and that's pushing the stock upward.

You're three hours late, Gazzz Bag. Isn't this the same guy who constantly berates the 'media' for reporting reactive news items that can't make you any money?

Tags: Cramer, TheStreet.com, Mad Money

All They Needed Was...

noreply@blogger.com (Unknown) — Tue, 15 Aug 2006 15:05:00 +0000

All these stocks needed was a little room to wiggle (and Bob Pisani to start getting nervous/depressed) to make an assault on their HODs.

Bear Traps are being set everywhere to try and snooker retail into selling/shorting strength like they've been able to do lately. Notice all of the charts shaped like W's this morning?

If I had to guess, and I don't, but if I did, I would guess we see strength again tomorrow. There's five more hours to deal with today first.

Tags: Bob Pisani, CNBC, trading

Lots of Stocks Right At Resistance...

noreply@blogger.com (Unknown) — Tue, 15 Aug 2006 14:23:00 +0000

Pretty interesting morning.

A few thing I'm watching gapped right up to their 50 day SMAs. I'm giving my longs (SMH included) room to wiggle here to see if a buy program can't push a few of these things up and over resistance.

Here are the levels I'm watching for the SMH and a few of it's components:

SMH 31.70
INTC 17.86
AMAT 15.85
NSM 23.23

Pisani is out of control this morning on CNBC. I haven't heard him pump this vigorously in weeks. Set responsible stops.

Tags: CNBC, pumpers, Bob Pisani, Intel, INTC, AMAT, NSM, SMH, trading, ETF

Cody Willard should work for CNBC

noreply@blogger.com (Unknown) — Tue, 15 Aug 2006 13:58:00 +0000

Cody Willard of TSCaM should really trade his TheStreet.com shares for shares of General Electric; he'd fit right in there.

Incrementally More Bullish
9:46 AM EDT
That leaves the question of measurement, but the PPI numbers sure hit the right notes.

You'd have to be a fool to believe this mornings trading action is based on Wall Street denizens thinking they've got a read on Bunjuman based on one PPI number. You would think a hedge fund manager like Cody Willard would be able to offer something a little more actionable than "The market went up so I'm a lil more bullish cause Bunjumun is gunna cut!"

Lenny Dykstra may be a ex(?)-drunk degenerate gambler but at least he's giving readers something they can trade on.

Kind of.

Tags: Cramer, Cody Willard, TheStreet.com, CNBC, pumpers, Lenny Dykstra