Ok another week of earnings catapult us to that magic 13000 number on the DOW. The DOW number means nothing to us traders as the more widely held indices of the S&P is more effective.
1400 is the key number here and closing above it for 3 days in a row without a retracement below it is very strong signal that this might be the new short term support. Next week should be interested with earnings season at its end and a strong up week this week, I am expecting an orderly pullback.
The trick here is how orderly of a pullback we have. I think the bulls will not give up easily and will more than likely use the stimulus package and theory of all is well in the financials market to push us higher. 1455 is the number to watch on the S&P ultimately on the upside. On the downside we have that 1396 number again.
Have a great weekend.
Saturday, May 3, 2008
Friday, May 2, 2008
ONLY WINNERS!!!!!!!!!!!!!!!!!!!!!
I hope you followed and rolled those April $27.50 YAHOO calls into the MAY $27.50 CALLS. Called it here on the blog @$2.00.
Tonight after the close official new that Microsoft going to pay $35 a share for Yahoo.
These calls are going to be worth about 300% more but we will see on monday how they open them..
Not bad for 3 week hold!!
ONLY WINNERS HERE. PERIOD!!!!!!!!!!!!!!!!!!
Tonight after the close official new that Microsoft going to pay $35 a share for Yahoo.
These calls are going to be worth about 300% more but we will see on monday how they open them..
Not bad for 3 week hold!!
ONLY WINNERS HERE. PERIOD!!!!!!!!!!!!!!!!!!
SKF green baby green
SKF was down huge this morning now it is up $4. That's why you enter trades with a plan.
resistance hit
Well after rejoicing about the US losing 20k jobs the market hit resistance early. I was in lala land as my SKF sold off but are not almost back to even on the rejection of the highs this morning. Honestly I would prefer a positive market today and close near the resistance as that would set up a early week short op next week.
Some of the recent high flyers are giving it back today and I told you about commodities that they will bounce in here. Potash, mon, mos, all up although not by much and OIL is up $3.
Best trading day for the week was today, even with the big downdraft I suffered at the start of day. Trading is definitely about staying patient at time.
Have a great weekend
Some of the recent high flyers are giving it back today and I told you about commodities that they will bounce in here. Potash, mon, mos, all up although not by much and OIL is up $3.
Best trading day for the week was today, even with the big downdraft I suffered at the start of day. Trading is definitely about staying patient at time.
Have a great weekend
FED injection again
FED just increase money available to banks in Europe in Swaps. I thought everything was a OK!!!
Ha ha I am being funny
Ha ha I am being funny
Thursday, May 1, 2008
Warning: C
The last time I posted that I had a bad feeling about Citibank the stock got hurt the following day. I am not as sure this time but I am very wary of Citibank here. Citibank has gotten over $40 Billion of cash since December 2007 and I think they are in serious trouble.
MER is also one to watch here too. Alot of people like Cramer is talking about financial have bottom but funny enough two weeks ago when these stocks were lower he was saying he would not touch any financials. OK which one is it Cramer???????????? Just like when he said gold going to $1250 and I said gold will goto $850 before that happens, oh well Cramer you lost again.
MER is also one to watch here too. Alot of people like Cramer is talking about financial have bottom but funny enough two weeks ago when these stocks were lower he was saying he would not touch any financials. OK which one is it Cramer???????????? Just like when he said gold going to $1250 and I said gold will goto $850 before that happens, oh well Cramer you lost again.
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