Missing all the regulars - it was a busy day and too much fun to trade a day like this but few even checked in to bitch about the economy - guess they be twistin a phat blunt fashizle! (I don't have a clue what that means, not sure I really want to)
Couldn't resist last week and bought some FNM and WFC, and sold into the rally this week for a nice profit...I am staying out of finance for now unless they dip to rediculess levels again...
Placed a quick bet on TMA early this morning on a dip but sold it on a spike a few minutes later - other than that, not really. Too much government in it and you just never know what they'll do.
Howdy Ian - from techs I would guess you still can find a place to join the party - I'm not betting on it being more than a few days but I believe when the dust settles, the stock will have a higher trading range going forward. Not really anything between here and 40 and 40 is just a ten number, not any barrier other than psychological. Machines are picking up the breakout and more should tommorow.
Hey Ian....you haven't missed much "flying..." Things are just taking off..and the degree to which things it will heat up is uncertain (to say the least) it's a minute by minute kind of thing...
With any luck, we'll have 2 maybe 3 weeks of reasonable upside before we remember, and things crash back to reassess where the market iss...test those lows - again maybe...just my take on it (and we all know what that's worth!)
Hope your trip was to someplace fun!
Kind of publicity you can’t buy ”Everest” is a word that just grabs your attention…
I was lost at “coppernose” until you said Bluegill….most fun I had on any fishing trip in memory was fishing big, big blue bream on a lake somewhere in North Louisiana with a fly rod!
I’m impressed with STP today…holding up very well…so far…(maybe Chairman’s short IS our good luck charm!)
Catfish and Coppernose Bluegill primarily - ponds are too small to support many Bass so I didn't stock them. Coppernose get pretty big for Bluegill (up to 3 1/2 pounds) and are very tasty - put up a hell of a fight with an ultralight rod too.
On the chart - if it lands anywhere at the end of day in the top 25% of the span between yesterdays close to todays high it is clearly positive. As long as it doesn't break signifigantly lower than yesterdays high. Still somwhat positive top 50%.
Yeah, it bounced right off that 20-day...I was pround....but then...it's early.
Thanks for the mini-lesson on highs/lows. There's a whole theory on "basing" I've yet to digest completely...
What kind of fish are in your ponds? That sounds lovely...a place so near you can just go out and throw a line in for some R&R...
Coffee is cold...need more!!
The daily high is less signifigant today than where the low holds. If we keep the intraday low in the area of yesterdays high it can be seen as support. The first test didn't even make it back down there so that is positive. We should see it really tested soon and we'll see. There isn't much standing in the way until 40 upside but it will take volume. The signifigance of holding yesterdays high is computer trading - that effect can push it up for a couple of days. If it fails to hold mid 35's, bets are off. Seems to be holding - made another quick stab at it and didn't make it down there. Need some volume to break the high - could happen if shorts give up and cover.
Ags were due for this but I'm short terming them - just sold some on spikes a little earlier.
I'm hanging in, trying to find my "bear legs"...doing okay...still have capital, at least.
I'm holding a little STP...I'm looking at that 20-day MA, which we did NOT close above yesterday, and that concerns me. Either she's gonna run a bit from here or turn around and head for 30 again....(oh boy, can't wait).
I'm missing keeping up with you guys daily, but I'm really keeping my nose to the grindstone and trying to bone-up on all the stuff I dont know. I think I'm learning a lot...and learning how much I don't know - that's the scary part. You know, I've done pretty well NOT knowing too much...I wonder if knowing more will ruin my otherwise good instincts!
Been fishing lately?
Lot's of fishing in my own ponds but no trips lately. Looks like STP is confirming a breakout today but we'll see - crossed over and broke another barrier so it's looking pretty good. Everything on my board is green - MOS,SPWR,PBR all doing nicely. The cycle continues right on time:) Good to see you haven't abandoned us for greener pastures.