Archive for January, 2010

  • Weekend Reading – Focus on China
    Posted by on January 31st, 2010 at 5:53 pm, Comments: 0

    I love being able to write my weekend reading post and discuss some broader topics beyond trading, you people really have no idea how much I love it.  After all, it was my study of international relations / global economics that really led to my desire to become a trader.  I sat there and asked [...]

  • Momentum Book Update
    Posted by on January 30th, 2010 at 2:19 pm, Comments: 0

    Another week of schellacking for long only strategies.  The market took a bath this week, led by materials and tech, which until Thursday morning made up about 2/3 of my portfolio.  I was playing buy the dip, it obviously didn’t work.  My cash position at the open on Thursday was south of 5%, I loaded [...]

  • It’s Now a Long / Short Market Again
    Posted by on January 29th, 2010 at 9:26 am, Comments: 0

    I’ve been adamant for months and months now about the fact that this was a long only market, it didn’t pay to focus on the shorts side, it was just so hard to squeeze a few pennies out of a short as opposed to going with the path of least resistance which was up, in [...]

  • iPad
    Posted by on January 27th, 2010 at 4:58 pm, Comments: 0

    A few quick thoughts on the new $AAPL iPad.  I won’t give a full review of what I think about the product, there are plenty of other people who can do that far better for you.  I’m not really a tech geek, I just like to look at innovative products from a business and technology [...]

  • A Little Commentary on the Fed
    Posted by on January 27th, 2010 at 11:56 am, Comments: 0

    It seems that the main issue here revolves not around the fact that the Fed bailed out $AIG, but that AIG paid out 100 cents on the dollar to $GS for the derivative contracts.  You know this already, or at least should.  I think everyone is in agreement that there was no other option but [...]

  • Narrow Range
    Posted by on January 25th, 2010 at 7:21 pm, Comments: 0

    Quick post tonight, but I want to comment on slew of different stuff that I’ve neglected to speak about. We closed a penny away from VWAP on the $SPY today, no coincidence.  Today was the epitome of wait and see, traders are playing some serious chicken.  Don’t be the first to move, wait for the winner [...]

  • Armistice
    Posted by on January 25th, 2010 at 2:19 pm, Comments: 0

    It seems as if the profit takers are done and we have an armistice in the market.  High momentum names have gotten crushed and many may be mortally wounded, their trends busted.  I still see some great ones out there though.  I don’t believe shorts have really taken control yet, which is why we are [...]

  • Weekend Reading – Massacre or Mutual Fund Monday
    Posted by on January 24th, 2010 at 12:23 pm, Comments: 0

    Feels like 2008 all over again doesn’t it.  Monday morning is going to be very interesting given that we are back to politics in Washington creating volatility in the market.  For a while there the focus was actually on companies, ironic that $IBM $INTC and others are blowing out earnings, top and bottom line, and [...]

  • Momentum Book Update
    Posted by on January 23rd, 2010 at 11:17 am, Comments: 0

    Oyyy, it was a tough week for long only strategies any way you cut it.  The market trapped the chasers with three major distribution days and then puked for two straight.  I made a calculated decision to lower my beta early in the week but didn’t significantly raise my cash level.  I still see many [...]

  • Indecision Reigns
    Posted by on January 22nd, 2010 at 3:24 pm, Comments: 0

    As I remarked earlier in the week, the market can handle good news, it can handle bad news, but it hates indecision and not knowing the rules.  We have seen this play out on two fronts this week.  First, the healthcare bill has completely stalled as the Democrats don’t have enough votes or enough balls [...]