Or akin to calling all Asian's "Japs," eh?
But this particular pathology is not surprising (to me). The vast majority of American's are clueless as to the particulars of other regions of the planet. To the extent they bother all that they see, hear and know is a distillate from those with an interest in warping.....I'll be kind....shaping....the narrative. Hell...American's are pretty clueless in their own homeland, too.
This is not to bash American's. I am one after all (HEH!). It's only to say that in my travels I've concluded such....perspectives....are endemic in the parochial nature of human animals. We see all strangers as dangerous...something which...given the nature of the species....ain't so surprising is it? As species go we are clearly insane. Look up the definition of paranoia and you'll see a picture of a hominid that calls itself "wise." The irony in that presumption is laughable. But I'll again be kind by saying it's the saving grace of the species? We have a sense of humor to so title ourselves in that fashion will engaging in obliterative practices all across this wee rock in space? Heh!
So it goes...
Indeed. Sometimes you have to wonder what is going on in that space between a persons ears. When I juxtapose what I see on various threads against my normal "walk about" in NYC and such....when I contemplate it as I look at all the strangers swirling around me going about their day....it makes me wonder...sometimes....about the percentage of lunacy sitting there behind their eyes....it's all enough to make me go...BRRRRRR....and run for a cave far away from our species. Sometimes.
But I digress....bid $14.10....after I closed my short I put a limit buy bid at just north of $13.90, and then went out for a walk about (speaking of the above). I come back and find the bid at the level it's now at. I will not be holding it into the week-end...but am willing to see if there's anything left in the 'ol Pooch...setting my stop just north of $11.05 to lock in my usual 10.....
Covered the short at ~$13.86. Ordinarily I'd flip to the buy side to play a bounce....but it's Friday...the weakness in the Pooch is apparent. Why push my luck? So for this equity...unless there's a screaming overshoot...I think I'm done for the day....but let's see what happens.
That's what I'm counting on. Opened a short at $14.08. Looking to cover in the $13's and then flip to a buy side play. Just playin' the churn is all....
pop it....so....question...will it be like it's been of late...take yesterday as an example. Drop it, then pop it, then drop it again to a lower line? Let's seee...bid $14.06
Nest: Oh there is zero reason to hold this stock longer term. Ummm...just my opinion of course. The chug and churn of it should disabuse everyone of that particular notion. But as a trade? Well now....THAT's an entirely different horse ain't it? Anyway I missed a grab in PM because I got back late (had an early AM dental appoint). So I'm just watching....since it's back in the $13 channel I won't be surprised to see it wander down to its lower boundary....and that would be the ~$13 area. Not today...and certainly not all in one fell swoop....but give it time. Did I ever mention chug and churn?
BAC: Ummmm....not to get into this but considering what he inherited I'd say he didn't do have bad. After all...like most things black he was left to clean up a white mans mess. There...I went there and said that. Heh!
But I digress from what is important. Making MONEY! PM bid well back in the $13 channel at $13.88....looks like the downside grind and churn is setting up to continue.
You know....looking at the PM bid flirting with opening in the $13.84 area...I was really just kidding (yesterday) about that $13.75 open. Should'a had the courage of conviction with that short? Naaahhhh...
HA! They all are.....I still think back to when the likes of GS lobbied (successfully) to morph from a Wall Street trading-type institution to that which has become the norm in today's "banking" world. Core banking and trading institutions were allowed to merge. Back in the day I didn't think it would end well to give such trading financiers the federal "cover" of access to saving (and such) bank accounts that they could leverage. I say cover from the standpoint of their trading suddenly being covered by FDIC-type coverage. In other words...to be able to lever bank accounts against margin trading accounts. To my mind, given the human animals propensity for greed and avarice that situation was ripe with potential for abuse. Nah...my fears weren't realized....much...were they? So what do we end up with ? A Potter universe...and for those unfamiliar I mean Henry Potter not Harry. ;-) Where is 'ol George when we need him?
My only advice is never go all in on any one trade. I'm a firm believer in staggering your entries and your exits. Ummm....and this is tactically agnostic. It doesn't matter if you're playing the buy side, or the sell. Same same. Anyway...for now...given the way the sell side has thrown up a wall...it looks like the bid is not going to get north of $9.80. Hard to say where it goes given the shareholder meeting and earnings....but by the market action is seems it doesn't expect too much....I think it's mostly waiting on the guberment giving the final smooch to OPK's product that everyone....or at least some....are excited about. Let's see what happens. Bid $9.77.
LOL! Yeah, right? ;-)
But you know something? This thing ain't going anywhere real fast. I could lose a bit by playing the short wrong...but I seriously doubt I'm gonna get trampled in some kind of rush. This thing moves like an overweight sumo wrestler the morning after a 3 day drunk.
But I will say this....I will NOT hold it into the overnight....I may be crazy but I'm not stupid. Heh! I just closed it at $14.02. Basically it was a flat trade. Now watch it open at $13.75 tomorrow. :P!
I'm gonna do something a bit crazy just to test things....I've opened a $14.06 short, with a tight stop a bit north of $14.10. The entire market has started to roll over....I want to see if I can profit from the whirlpool should the roll-over continue.
Pooch just can't get out of his own way can he. Seems inevitable that he's going to be put back into the $13's...but this ain't just BAC. The entire complex is suffering a.....complex....the finny's just ain't loved...matter of fact....right now there doesn't seem much of any sectors getting any luv, either....everything is punky....good times if you're playing the short game, eh?
Most expensive and environmentally fugly to get out of the ground, too. Not to mention it ain't primo number 1 grade stuff, either.
In any case...I'd stepped away again....I'm at the point in this year where I have to break things up..step away...take a break....so I take a break, then come back to see the bid right back south of the $14.teen's at $14.08. I'd left with the bid flirting with $14.20. Master keeps pulling the Pooch back to that uptrend line on my chart....the one from the $11.66 level. Ugh. But yet another trading opportunity I suppose..
I have a hobby...I'm a long time scuba diver. The way the intraday action is acting reminds me of back when I was a teen taking PADI (Professional Association of Diving Instructors) classes for my scuba license. One of the tests was to tread water in the deep end of the pool. A 15 minute tread. And at the end of it the instructor would throw a 25lb weight into the pool and you'd have to go down, bring it up and tread water with it before giving it back. The Pooch is acting like he's got that weight strung around his neck. And Master keeps shoving his head back under when he tries to catch a breath. It's ugly action overall...if he keeps the Pooch anchored to that line then I look for the bid to end the session at ~$14.12...with the Pooch gasping for air at the end....
Yeah...I can see TRUMP emblazoned on the White House. I would hope to a better effect that a certain Atlantic City casino...but that's a story for another time. Remember sumthin' about the guy...he is not averse to flitting in/out/in/out of BK and stiffing his creditors. It's just one small reason why I will not be voting to hire the guy to represent me, an American citizen, in the Power Oval....
Indeed. But it comes to this. You're dealing with a media and news "cycle" that never ends. It's 24x7x365. So it comes to this. They have to talk about something, don't they? It doesn't matter how mundane. It doesn't matter if it's pertinent. It doesn't even really matter if it's correct or not. They've time slots to fill and fill it they do. With babble....I discount 9 tenths of all that flows out of all their orifices as being the....feces....that it is....