Posts Tagged ‘USDX’

• The Open is for Amateurs, the Close is for Pros
  Posted by Leigh Drogen on December 4th, 2009 at 7:33 pm, Comments: 0

  Three straight days now the amateurs have painted the tape in the first hour, only to see the market lose VWAP and crater.  This isn’t healthy action people.  Institutions don’t do the bulk of their trading in the morning, it takes place in the afternoon after the dust has settled and their traders have a [...]

• Does It Really Matter Why?
  Posted by Leigh Drogen on December 3rd, 2009 at 5:42 pm, Comments: 0

  Was it the $BAC secondary announcement, how about the trader tax, or maybe even the jobs number tomorrow?  Who gives a crap.  All I know is that breakouts in either direction are being mean reverted, and quickly.  This is not my type of trading, which is why I’ve been mostly silent now for about a month. [...]

• Bernanke Plays Dumb
  Posted by Leigh Drogen on December 3rd, 2009 at 11:52 am, Comments: 0

  A few words on the the proceedings in the Bernanke confirmation going on today. Just heard one of the senators say, “you are the definition of a moral hazard…you are creating zombie banks…repeating the mistakes of Japan in the 90′s.” The senators are all, on both sides of the isle, asking the major question of the [...]

• Bernanke and Geithner Win (for now)
  Posted by Leigh Drogen on December 3rd, 2009 at 12:03 am, Comments: 0

  Allow me to set the stage: Last winter as the world was falling apart Bernanke and Geither had three options: Nationalize the largest banks which represented systemic risk ($C, $BAC, $WFC), sell off their assets piece by piece, and put the full weight of the United States balance sheet behind the financial system in a transparent way. [...]

• Hugging My GLD Like a Teddy Bear
  Posted by Leigh Drogen on December 1st, 2009 at 8:35 pm, Comments: 0

  While everything else continues to chop around, fail breakouts and mean revert, my gold position in $GLD continues to work.  Is it making me mucho deniro, not really, i was unfortunately loaded with equities at the time I took the $GLD position and didn’t add more than one lot on the breakout.  Since that breakout in [...]

• Running Out of Breadth
  Posted by Leigh Drogen on November 23rd, 2009 at 10:04 pm, Comments: 0

  Like a less talented, smaller, slower team, the market is just hanging around, scrapping and clawing to stay in the game.  Teams like this are dangerous, it’s anyone’s game in the waning minutes.  A big push up above 1120 with volume on the $SPX and I wouldn’t be surprised to see another round of buying [...]

• Why Are They Lying About the Dollar?
  Posted by Leigh Drogen on November 17th, 2009 at 12:16 am, Comments: 0

  Buy the dips, and sell the rips.  When this, the most hated equity rally in history is over we will look back, sigh, and just repeat, buy the dips and sell the rips.  I commented in an interview during the last dip that you had to continue putting your balls on the line during sell [...]

• The Fear of Cash
  Posted by Leigh Drogen on November 9th, 2009 at 10:04 pm, Comments: 0

  What’s the scariest thing to see on your balance sheet right now, no it’s not a toxic asset, it’s cash.  Companies are now starting to panic about holding cash on their books. Funny to think there’s a huge advantage to holding a lot of debt right now in a terrible economy. The market is giving [...]

• Golden Opportunities
  Posted by Leigh Drogen on November 3rd, 2009 at 7:14 pm, Comments: 0

  I’m seeing some extreme indecision in the market, which makes sense at this point.  The dip buyers failed, they did, and they know it.  The shorts never came in, they decided took keep what was left of their dignity and sit this one out.  Unlike the last few dips there are no short sellers this [...]

• Insert Scary Title Here
  Posted by Leigh Drogen on October 30th, 2009 at 6:37 pm, Comments: 0

  I’m no fixed income expert, let’s just get that clear off the bat.  But I’m no fool either, I’ve studied and learned from the best in the game and if I know anything I know that the boys on the credit desks have higher IQs than the hustlers on the equity floor.  It’s funny, at [...]