What the $%@&* Trading!

Chop continues

AJ — Thu, 29 Jul 2010 02:12:45 +0000

The blades have to be getting dull on this chopper. All the indexes ended in the red, off anywhere from a quarter percent to one and a half percent. Volume was extremely low and Advance/decline volumes were barely down two to one. But which way do we go now? I’m positioned on the long side, [...]

Sgt. Schultz sent to the front :-)

AJ — Wed, 28 Jul 2010 03:06:24 +0000

Do you remember the old WWII war movies, or even Hogan’s Heroes, when they disciplined soldiers by threatening to send them to the Russian front? Well, I guess that’s what BP is doing with CEO Hayward…sending him over to the russian front as someone else runs the mothership. Today was a sausage-maker…chop, chop, chop. The [...]

That was fast

AJ — Tue, 27 Jul 2010 01:44:58 +0000

We suprisingly had some good homes sales news and FDX boosted its earnings predictions for the fiscal first quarter and the rest of the year! All the indexes closed in the green. I didn’t think the S&P would get to its 200ma in 1 day, but it did…And the June highs are not that far [...]

Bull Fun!

AJ — Mon, 26 Jul 2010 02:09:49 +0000

It was a good week for the bulls, except for Wednesday giving us a spook. We’ve made new July highs in the indexes and are now shooting for the June highs. The Dow Jones Industrials are the closest, sitting between its 200ma and the high. The Russell 2000 is also already above its 200ma and [...]

Weekend Reading 7/24/10

AJ — Sat, 24 Jul 2010 01:12:59 +0000

Here’s some interesting reading for your weekend. Now don’t forget to spend time with the family and have some fun! Peter Schiff’s 3 Reasons Why Financial Reform Will Fail Euro Passes Own Stress Test as Bank Examinations Loom When the chips are down, Big Mac index suggests the euro is still overvalued. 10 Worst-Performing S&P [...]

Whiplash!

AJ — Fri, 23 Jul 2010 02:02:59 +0000

Sure there was good earnings reports this morning, but initial claims looked bad. European good news, on manufacturing and services index and retail sales, trumped US Initial Claims this morning and yesterday’s unusual uncertainty. And it sounds like European bank stress tests are coming in better than expected. I think the give-away on that is [...]

Unusually Uncertain?

AJ — Thu, 22 Jul 2010 02:15:30 +0000

No… more like bitch-slapped! Looks like banks got slapped by Bernanke and the entire market goes down. Bernanke said NOTHING new but the market reacted as if we’re just learning Europe is broke and there are many people unemployed! On the other hand, many senators probably had not known that. Earnings reports on Wednesday morning [...]

Nice…Turnaround Tuesday

AJ — Wed, 21 Jul 2010 02:36:58 +0000

So wasn’t there some news this morning about bad earnings from GS? And weren’t C BAC GE still bad? Isn’t everyone worried about the bank stress test in Europe? So why are all the traders happy today? Funny that the US dollar did not matter, or at least there is not that strong correlation between [...]

Now what?

AJ — Tue, 20 Jul 2010 02:04:49 +0000

I was watching 3 companies for good earnings reports: IBM TXN and ZION. By their afterhours trading I’m thinking they all failed. But so far futures markets haven’t reacted negatively. And on Tuesday it may get real wacky! I’ll be watching for GS in the morning, along with housing data at 8:30AM and then AAPL [...]

Let’s get ready to rumble

AJ — Mon, 19 Jul 2010 03:11:26 +0000

C joined BAC and JPM with higher than expected earnings and improved credit trends. But they and all financials puked on Friday. You have to wonder… If you’re making more money on less revenue, isn’t that a good thing? Would you rather see increased revenues with lower earnings? This earnings season expectations are that all [...]