Wednesday, October 31, 2007
IT'S the SUPERBOWL of TRADING DAYS!
IT's FOMC's INTEREST RATE DECISION DAY!
WITH your host,,,,,BEN BERNANKE and CREW!
Good luck Traders.
Here are the charts going into the day-
YM= Dow Jones Index
ZQ= Fed Fund Futures
I'm expecting "NO CHANGE" in the interest rates. Why,,,, because,,,,who cares,,,
Today's big NEWS is that the GDP was better than expected for the 3rd quarter-
"The Commerce Department on Wednesday said the country's gross domestic product grew 3.9 percent in the third quarter, a faster pace than the 3 percent growth economists had forecast, on average. The report may have calmed some investor concerns about the economy's health ahead of the Fed's rate decision." (Rueters News)
Out of all the economic reports that come out, the GDP is considered to be the most important in gaging the US economic health. The 3.9% growth for the 3rd quarter is bullish for stocks.
BEWARE THE FREAKS!
Monday, October 29, 2007
I don't plan on trading until after the FOMC decision. If you look at the index futures you will see a trading pattern that no one is good at trading; the trading pattern is called CHOP, because that is what it does to your account after trying to trade it.
In bond news, the Fed funds have dipped just below 95.50. This has got to be the most straight forward instrument to swing trade and the best way to measure investor sentiment along with 90 day T-Bills. As noted earlier last week I shorted ZQ around 95.65 on the simulator.
In other news Trader Bubs had a BLOWUP trading day today. Not a blowup like one of my bad days where I lose an average Americans years salary in one day, but a blowup for his account none the less. I promised Bubs increased traffic, so go check out his site and make the guy feel better.
Today's educational link comes from TraderMag, which discusses risk management and risk analysis.
I'm working on my "trading system" and working on adding some cool new features to this blog.
As some of you may have noticed, I decided to monetize this blog, so that in the future I may be able to put this money towards upgrading the blog, donating it charitable foundations, or giving out prizes to readers.
Friday, October 26, 2007
No trading for me today. Working on my system.
DINO is having another DEATHMATCH with the Rajin Cajin,
THE BET??? Will the Dow close 100+pts today?
My guess is yes.
I guess we'll see in an hour.
Thursday, October 25, 2007
Slept in and traded an hour during the mid-day.(I had the day off from work finally, so I got a chance to observe and trade!)
I started off with an attempt to take a short term trade (possibly hold for a couple days), by going long 2YM and short 1ER2. Within about 20min I was up $180 on the hedged trade and I put in LIMIT exit orders, however my YM LIMIT orders didn't get hit, so technically I screwed up on the trade because YM dropped quickly. I then decided to do some trading for the next hour and made a couple hundred. Next time I will use MARKET ORDERS on this trade strategy. I'm watching ZF and ZG as well as some key sectors as you can see from my charts.
The Simulated account holdings are up- YM/ER2 hedged trade is working as usual.
Wednesday, October 24, 2007
Short front month, long back month. Expecting the next week of trading to be low volume and to get choppier until FOMC day.
Closing positions- Should've closed these yesterday when they were making money, but was too busy at work. I'll do better on my new positions.
Hedged biased YM/ER2 trade,
Long 1-3month BIL until Oct 30th.
Short back month 30 day fed funds. (I should have shorted the front month with a long on the back month, Oh'well, lets see what happens)
Short Eurodollar, long ZB , seeing if this is a good hedged/spread trade.
How much premium is based into index futures. For example if you go Long DIA & short YM, does this equal a hedged trade where you collect premium on futures contract and recieve dividend payouts on DIA.
I'm looking at the new BIL; ETF, and ways I can make money using it to outperform my savings account. If I use 2x leverage in my brokerage account, will this outperform my savings account interest rate of 5.25%? What are the risks, and what are the tax advantages/disadvantages? What interest will I pay my broker from the overnight loan, and is this a wise choice? Should I collect the interest payout each month, or should I attempt to trade this ETF between the payouts and look for arbitrage opportunities between this ETF and the underlying bills? How will the commissions costs contribute to my overall profit/loss for this trade? Would an IRA account be best for this type of trading? Will I still receive interest from my broker if I use my margin account and take a position overnight?
Tuesday, October 23, 2007
Chances are you already do, but didn't realize it. (especially if you've ever been clubbing)
The GUIDO FAN CLUB
THIS GETS FUNNIER EVERY TIME I WATCH IT!
They're affecting and influencing our youth now too!
The scary part is, they are like a plague, SWEEPING THE NATION.
No charts today,,,
I'm gettin my TAN on and getting a HAIRCUT?
Monday, October 22, 2007
Good news, the market isn't going down forever, last time I checked the trillions of dollars invested in the US stock market was invested LONG,,,,,not SHORT...
The media is likely to bring up the R word today,,,,,RECESSION.
Does a market decline= Recession every time the market goes down now??
Do we blame the market declines on the US dollar, rising commodities, and subprime defaults?
Should we ask Greenspan what he thinks the odds of a recession are now?
When the NYSE has to get loans from the government or other banks to cover their loans from the buying of stocks on sharp market declines, does this signal a possible area to re-enter and BUY?
Do we wait for the FED to step in with a interest rate cut?
The question is, why is the market down?
What has changed?
Do CEO's and investment banks want another rate cut? ,,,,,,IMO,,,YES
How would these institutions create the best setup in getting the FED to cut again?
Create a selloff in the stock market,
Have the media come on with talk of Recession, subprime, inflation, forclosures, Black Monday
Create big headlines which will seem like if the FED does nothing, the market will plummet to zero,,,,,in the words of Cramer "We have Armageddon"
Do all of this a week before the FOMC meeting
Have a good day everyone,
Trade well and think before you act
Sunday, October 21, 2007
THE VIX and 13 WEEK BILLS
An upside down look at the 13 Week Bill
See any similarities??? Draw your own conclusions, and here's another "TIP",,don't forget to look at volume on these products as well.
I like Technically speakings blog, he's got good analysis.
Also, TraderFeed finally put together a piece on long/short hedged strategies(ie long DIA/short IWM), something I've talked about for months. As you can see from my simulated account holdings, I have on the wrong position on YM/ER2 (positions should be reversed if I wanted to be actually making money)
As many of you smart investors and traders already know, the fed fund futures have priced in a 25bp cut for the upcoming meeting on Oct 31 (I never gave a HOOT about FFF when I first started trading, let alone knew what they were, but since I'm starting to analyze intermarket relationships more, I see this as a vital component in the stock/bond relationship). With the recent run up, what has been going on in these markets? Here is a breakdown from Friday with a couple of my own thoughts on the change in open interest in futures and option contracts.
Friday, October 19, 2007
I don't have time to trade in my real account, so I put on some positions in my simulated account. I've been holding onto the YM/ER2 combo for a few weeks but added the FXI calls and bond related positions today.
I wouldn't get overly bearish. The 10year is near 4.41% currently and probably won't go much lower, especially if the FOMC keeps rates the same. Next week I'm expecting some choppy action until the release of the FOMC's decision. Sunday/Monday we may finally see some weakness in China's market which could leave us with another gap down for the US market open from overseas spillage, but if the 10yr goes to 4.3% I'm looking for long stock trades only. A week and a half ago I predicted the yield on the 10yr would go down to at least 4.5%, and we are now past that. The bond market is pricing in at least a 25 bp cut with the current yields and if yields go any lower I'm looking to go short ZF because I highly doubt another 50 bp cut from the FED, given that there was some actually talk of a rate hike. If the FOMC raised rates 25bp, I would go massively short bonds. I don't know what a good position in the stock market would be with that scenario, but given that the market has already sold off in anticipation of a cut, I would expect the market to rally. As it stands now the financial sector is to be considered oversold but may go lower with more potential market panic to come in the next 2 weeks.
Thursday, October 18, 2007
I'm looking for some good stocks to short.
I think Chinese stocks are due for some carnage shortly. Today Petro China became #2 in US market cap,,,,makes me want to puke. It's market cap is almost as high as XOM,,,,,,,
I'm speechless, with options expiring tomorrow, I see this as a temporary blow off top, with eminent damage coming in the form of a bloody bear attack.
I'm looking for good stocks to short- (preferably Chinese related with OPTIONS)
Because many of the Chinese stocks are so volatile, I'm looking for option strategies as well (probably bear call credit spreads), so akalawoo and all you other option traders, give me some ideas.!!!
Time frame I'm looking for is 3-12 months, with possible front month writes.
Max debit I'm looking for is $500 but will allow up to 2k.
Let me know people.
FXI to $160 in 6 months,,,,you heard it here first.
Operant conditioning to fail?
What steps have I taken to program my brain to win?
Stick to your system, and if you don't have a system that treats trading as a business, then you will fail.
If you don't have an edge, you will fail.
If you think you suck at trading because of your own trading psychology, you probably do suck, but you probably wouldn't have this problem if you found an edge, because then with your edge you could have a system, a system that you could count on making or losing X amount of dollars.
no wait, the economy is headed for a downturn, rates are going to be raised.
CNBC, thanks for confusing the hell out of everyone that watches.
Is BAC going to drop from its bad earnings after being pumped up by every broker and magazine?
I don't think I'm sick of the stock market,,,,,I think I'm sick of the media's interpretation of whats going on in the stock market. CNBC you SUCK!!!!
CFC is going to outperform FXI,,,,,the best strategy is to make a hedged portfolio,,
Long CFC and short FXI.........(for the quickest maximum pain use options instead)
Wednesday, October 17, 2007
PS- Vote for Colbert, or Ron Paul. If it came down to it, I would vote Gore over all the other candidates right now, just because I hate all the other candidates.
China is gong to crash in the next year or two. The market cap on china mobile is about the same as AT&T and Verizon put together from what I heard over at Technically Speaking, unfortunately I can't directly link to the post I'm talking about, because the blog sucks isn't "THAT ADVANCED", but the blog has some real good content. The post is near the bottom of the page. to lazy to copy and paste it on my blog and ,,,,,fuosinfdporgnpe
Monday, October 15, 2007
This was going to be my post for the day with $300 on 18c, but I noticed what looked to be a reversal in the markets. I started off badly this morning with respect to position sizing and waiting for trades to offer me larger profits.
I decided not to turn off the computer and I racked another $1,200 by trading the reversal. Pretty lucky timing, because I have to take a test and go to work later.
I really need to work on position sizing and evaluating the ZN/ES relationship.
Sunday, October 14, 2007
Labels: market crash
Burqa (Burka) Arbitrage- Funny stuff from Long or short Capital
“$500k” Gold Digger Gets Slammed- More Fun stuff from Bankers Ball
The Bag Will Not Inflate, And Liquidity Will Not Be Flowing - Hussman weekly analysis
The 1987 Stock Market Crash-A look back at the crash by Lope Markets
Friday, October 12, 2007
Here is a related thread from EliteTrader-
Here is better info Victor, a 12 page article from the New Yorker (courtesy of Anonymous poster)
of the 20-30 books I read in college on the stock market, Victor's book "education of a speculator" was one of them, I don't recall much from the book except that it went from one subject to the next, telling about his life, and that Victor took gambles and rubbed noses with the upper class.
Aside from that--
I liked the video link one of the anonymous people posted yesterday about the Economic Hitman,,good stuff.
I was checking out some of my readers blogs, and I noticed Ron Paul (Congress Republican from Texas) is running for 08', ,,,
I like this guy because he grilled Paulson and Bernanke a few weeks ago on the crap the government has been doing.
I feel like my blog has become more "radical in a sense", politically opinionated,,or maybe my eyes are just opening to some of the stuff the media chooses us Americans not to see, "for the greater good"
As it stands right now, I wouldn't vote for Rudey, and I don't know anything about Obama, and if Rudey is the primary front runner for the Rep party, I might just switch to the democratic party,,,,,But would I vote for Hillary,,,?? I've got some serious research to do on our candidates for 08,,,
Well, after seeing DINO make some huge bank yesterday, I was really getting the "itch" to trade. Considering I woke up around 9am and only traded for an hour, I'm dam lucky. Well, I did my best at holding onto my position given the bearish trend of NYSE A/D even after taking some heat on the trade. I didn't know IB lowered the margin on futures until I decided to add to my position, which made me get a greater profit than I normally would expect from trading my usual conservative size. I also got lucky on my trade, considering I had little time to trade today. I didn't follow my system today, and I would have done better if I had taken its signals I believe.
Thursday, October 11, 2007
No one does any videos except for Jefferson who pretty much uses that as a way to relieve stress by screaming and letting out his frustrations, and then you got OSCAR,,,,,,the guy has rose to fame quickly and his website now offers "a trading platform" where he is making money in commissions and subscriptions from members joining his trading room.
Even the good old blogs like Traderfeed don't seem to spark much interest.
Does TraderMike ever make any new posts,,,,I guess I have gotten close to where he was a
few years back. What else is there to post, we've read it all before.
All the people want to see now are big P/L numbers and people having emotional outbursts from their stupid trading mistakes.....if that's the entertainment your looking for,,,so be it.
What is cool these days?
I think a stock trading you tube channel, or something of the sort would be cool.
Lets face it, we are all pretty lonely trading from our homes with no real feedback.
Who is motivating you to trade better,,,everyone has to find a role model to look for inspiration, otherwise you wouldn't be seeing P/L threads on Elitetrader as the most frequented thread.
Moreover, instead of getting our video media one way from the likes of CNBC and Bloomberg, how about some media from retail traders....Wallstrip is entertaining, and thestreet.com has some good videos that are educational, but I'm looking for more now.
As retail traders, we want to-
build social networks
learn new methods to trade
hear others' ideas
give our own opinion on subjects and get good feedback
TOKYO, Oct 11 (Reuters) - Japanese government bond futures dipped but stayed above their two-month low on Thursday after the Bank of Japan's policy board kept interest rates unchanged as widely expected, while gains in stocks weighed.
Futures rebounded from the day's low after the BOJ kept its benchmark interest rate steady at 0.5 percent on Thursday by an 8-1 vote, prompting investors to buy back bonds.
Some market players had feared that one or two other board members could side with Atsushi Mizuno, who had called for a rate hike in the last three months, after strong U.S. jobs data late last week.
But Mizuno was again the lone dissenter at the BOJ, and that cooled expectations of an interest rate hike by the end of the year.
"Those who had sold futures ahead of the BOJ's rate decision on a possible 7-2 board member vote covered their short positions," says a chief manager of treasury division at a Japanese bank.
"The market is back to normal because most people had expected an 8-1 vote with only Mizuno opposing keeping rates steady. And rising share prices need the market's attention."
Market players reacted little to a ratings upgrade by Moody's Investors Service, which raised Japan's domestic-currency government bond rating to A1 from A2, saying the move had been widely expected.But investors were forced to cut positions in bond futures after the stock market rallied on Moody's rating announcement, they said.
Wednesday, October 10, 2007
With the yield on the 10yr hitting resistance the last few days around 4.65%, you had to expect a reversal (considering, when was the last time you saw the FED raise interest rates after a 50bp cut,,,also there are talks of possible cuts in other countries to follow in the USs' footsteps). With another FED meeting at the end of the month, you could see the yields continue down and the stock indices to begin to weaken in anticipation of no rate cut. Seeing the 10yr go back to 4.5 in the coming weeks is very likely. The stock indices traded inversely today and sold off, with YM taking the biggest hit of the indices. This leaves my outlook for the future to remain bullish on small/mid caps (IWM) and neutral on big caps (DIA) for a potential 4th quarter GROWTH STOCK oriented rally.
No trading for me today.
Tuesday, October 09, 2007
that it isn't trader psychology that makes Retail Traders suck so much, but lack of a real edge.
Congrats to DINO on his LDK swing trade, he is kicking butt in that swing trade account of his.
Until next time, Keep at it,,,, Haters without an edge......
I got lucky today,,,or maybe I'm becoming a better trader, either way I made money today. I should have held my short on ER2 longer and waited for NYSE A/D to stop trending down and waited for the reversal in ZN. I traded the first hour and now I'm done because I expect to see chop for the next 2 hours and I've got work later.
Overall I expect bond futures to rise in the short term and for financials and the stock market to be weak and choppy this week.
I'm not sure what is going on with Citigroup, but they along with the rest of the financial sector are getting beat down ahead of the FOMC minutes.....Still Bullish? Maybe not so much on XLF.
I would remain bearish on BSC based on the institutional outflow of money in BSC and its associated weakness due to losses related to bets the company made on subprime securities and stocks such as CountryWide (CFC).
Conversely I would have a more bullish outlook on BAC based on the increase in institutional money and also the media backing it is getting by Forbes and Full services Brokers recommending it as a buy to their clients. How can you recommend a buy on BAC when they bought 2 billion worth of CFC right after BSC and a number of other funds dump their shares based on the subprime mess CFC got itself into? Does it make any sense? Do you think buying CFC was a smart choice by BAC? Well apparently it was according to what Cramer.
You see, they even have Cramer pushing BAC. Hear anyone pumping BSC right now?
How about Goldman Sachs; a company that will probably rule the world some day based on all the interesting facts I keep reading about.
Sunday, October 07, 2007
We have blogs about stock traders and stock index futures traders, but I haven't seen any blogs about traders that trade bond futures such as ZN, ZF and ZB.
Perhaps I should be the first to partake in this endeavor.
Friday, October 05, 2007
Here is an excerpt-
"Before 1933, when the dollar went off the gold standard, the tether of gold served to limit the expansion of the money supply; but since then, the Fed's solution to collapsed bubbles has been to pump more newly-created money into the system. When the savings and loan associations collapsed, precipitating a recession in the 1980s, the Fed lowered interest rates and fanned the 1990s stock market bubble. When that bubble collapsed in 2000, the Fed dropped interest rates even further, creating the housing bubble of the current decade. When lenders ran out of "prime" borrowers, they turned to "subprime" borrowers - those who would not have qualified under the older, tougher standards. It was all part of the structural imperative of all Ponzi schemes, that the inflow of cash must continually expand to pay the people at the top. This expansion, however, has mathematical limits. In 2004, the Fed had to begin raising rates to tame inflation and to support the burgeoning federal debt by making government bonds more attractive to investors. The housing bubble was then punctured, and many subprime borrowers went into default.
The Subprime Mess and the Derivatives Scam
In the ever-growing need to find new borrowers, lending standards were relaxed. Adjustable rate mortgages, interest-only loans, no- or low-down-payment loans, and no-documentation loans made "home ownership" available to nearly anyone willing to take the bait. The risks of these loans were minimized by off-loading them onto unsuspecting investors. The loans were sliced up, bundled with less risky mortgages, and sold as mortgage-backed securities called "collateralized debt obligations" (CDOs). To induce rating agencies to give CDOs triple-A ratings, "derivatives" were thrown into the mix, ostensibly protecting investors from loss.
Derivatives are basically side bets that some investment (a stock, commodity, etc.) will go up or down in value. The simplest form is a "put" that pays the investor if an asset he owns goes down, neutralizing his risk. But most derivatives today are far more difficult to understand than that. Some critics say they are impossible to understand, because they were intentionally designed to mislead investors. By December 2006, according to the Bank for International Settlements, the derivatives trade had grown to $415 trillion. This is a Ponzi scheme on its face, since the sum is nearly nine times the size of the entire world economy. A thing is worth only what it will fetch in the market, and there is no market anywhere on the planet that can afford to pay up on these speculative bets.
The current market implosion began when investment bank Bear Stearns, which had been buying CDOs through its hedge funds, closed two of those funds in June 2007. When the creditors tried to get their money back, the CDOs were put up for sale, and there were no takers at anywhere near their stated valuations. Panic spread, as increasing numbers of investment banks had to prevent "runs" on their hedge funds by refusing withdrawals by investors concerned about fraudulent CDO valuations. When the problem became too big for the investment banks to handle, the central banks stepped in with their $300 billion lifeline.
Among those institutions rescued was Countrywide Financial, the largest U.S. mortgage lender. Countrywide has been called the next Enron, not only because it was facing bankruptcy but because it was guilty of some quite shady practices. It underwrote and sold hundreds of thousands of mortgages containing false and misleading information, which were then sold in the market as "securities." The lack of "liquidity" was blamed directly on these corrupt practices, which had frightened investors away from the markets. But that did not deter the Fed from sending in a lifeboat. Countrywide was saved when Bank of America bought $2 billion of its stock with a loan made available by the Fed at newly-reduced interest rates. Bank of America also got a nice windfall, since when investors learned that Countrywide was being rescued, the stock it just purchased shot up."
What else ----get this, Brokers are telling there clients to buy Bank of America,,RIGHT NOW!
Today, the SP500 hits new highs,,,,are you bullish!??
Apparently betweenthehedges is,,,and his fund must be making money.
So, if the financial markets do meltdown,,,,,we are all screwed pretty much,,,
so I guess the only option is to go long and be a bull.
To get my shorts trades in, I guess I can still short BSC and CFC, because they will be the first to go if this market is going down.
As of right now, my trades are-
US middle class
Hey AMEX---you got an ETF for going global warming yet???
In other news Dinosaur Trader lost the Death match to Rajun Cajun, and not only did DT lose money, but he lost the girl too,,,,,reports are in that the Cajun man is taking Trading Goddess to Yosemite for a romantic gettho-way. I'll have you know, DT will come back stronger than ever. Not only will he reclaim the money, he will reclaim 2 girls in the process. I've seen it happen before........
UPDATE---WAIT A MINUTE---JRJC took a dump,,,,but did DT, hold his short???? and did Rajun exit his long in time???? What about the Trading Goddess,,,,who will take her to Yosemite????
It looks like between the hedges is right about investor sentiment, we could just keep going up,,,but this time, the rally could be bigger, considering lately that small/mid caps are outperforming big caps.Here is some of what BTH said on his blog-
"a fairly large chunk of the public generally hates U.S. stocks and says it won't ever invest in them again; public short-selling continues to set new records; index futures traders are positioned near historically net short levels; short interest on the major exchanges has exploded higher this year; the mainstream press obsesses with what is wrong and what could go wrong, and long-term investors are denigrated, while day-trading is championed as a crash is always seen as just around the corner. I continue to believe that overall investor sentiment regarding U.S. stocks has never been worse in history with the S&P 500 right near a record high, which bodes very well for further outsized gains. I expect US stocks to trade mixed-to-higher into the close from current levels on less economic pessimism and short-covering."
So, the market keeps going up, because the general public is bearish, and the general public is always wrong,,is that right? But does that even matter, considering the % of retail investors in the stock market is a fraction of the money in the market, the market is going up by hedge funds pushing it up. How could public short interest be at all time highs near the top of the market,,,,,,,,,holy crap,,,I see it now,,,this sounds like me on my worst trading day,,,does the public suck that much.
BUY BUY BUY!!
100% up room to go,,,guaranteed!!!
I predict blood on the street this Friday.........BULL BLOOD!!!!!!!!
I will probably be sleeping in, so if I don't wake up in time to make a trade, and the market does sell off,,,,,,I TOLD YOU SO. If the market rallies than I will just go off and say,,,what type of BS was that.!??
Thursday, October 04, 2007
I think she's hot. I took off comment moderation. Blast away haters.
I use to average 100+ contracts per day. Now I'm trading 1/10 the number of contracts and holding my trades longer. Although I'm not putting up big numbers like I use to, it's been less stressful and there is less of a chance of me having another blow up by keeping my contract size down. YM was an absolute choppy mess this morning. I should have gone long ER2 instead of YM on my first trade. Normally YM outperforms ER2 intraday, but ER2 has been more bullish then YM lately, which suggests to me that there is either a strategy change by the hedge funds (more long bias on ER2 now, possibly going long small/mid cap growth stocks for a 4th quarter bull rally), or that the short covering in sectors like homebuilders and financials are causing ER2 to outperform YM; and that YM and ER2 will return to there normal trading patterns as soon as the shorts are done. CNBC really has nothing else to talk about today so they are hyping up tomorrows employment #'s out before the bell. The BoE left interest rates unchanged, and the only movement the financial markets saw was in the currencies.
Wednesday, October 03, 2007
I made money today. Gotta go to work. Interesting relationship between ZN and ES today ahead of BoE's interest rate statement.
Monday, October 01, 2007
Guess what CNBC is displaying again---
DOW JONES XXX past RECORD CLOSE,,,,,,,,,,,,,HOLY F@#%KING S#!T!!!!!!!!!!!
THIS MARKET IS GOING TO THE MOON,,,,HOLD ON FOLKS,,,If you thought the tech boom in the 90's was wild, you aint seen nothing yet.....
OK,,,what do you call it when--
When Homebuilders outperform China(FXI),,,???
Expect a nice down day in the next,,,,year or so,,,maybe Thursday though.
BlueDog, I found where your getting those Reed girl pics,,,the website is off the hizzle, you can zoom in on the pics...REEF WEBSITE
I vote for #7, or #10....or,,,,oh, wait,,I'm gay,,,I vote for the guy in the yellow on the far right looking away from the hot chicks in an attempt to avoiding a massive boner..!
I think I'm going to start posting pics of hot girls to steal readership from TRADINGGODDESS.....I can do that, now that I'm gay,,it is perfectly OK, for Gay guys to post pictures of hot chicks, last time I checked.
Maybe betweenthehedges was right,,,a massive short covering rally is underway. Here is what he said-
"I expect US stocks to finish the week modestly higher on less economic pessimism, diminishing credit market fears, lower energy prices, investment manager performance anxiety, a stronger US dollar and short-covering. My trading indicators are still giving bullish signals and the Portfolio is 100% net long heading into the week."
In other news, there is no blog on the internet that helps you trade and no person willing to give you an edge or display there setups that make them money everyday.
Make sure you buy Timothy Sykes new book, AN AMERICAN HEDGE FUND. Not because he payed me to say that. And not because he closed his hedgefund (Cilantro Fund) for more publicity for his book. And not because he didn't put me on his blog roll. But because he's trying dam hard to make money.
Also, I was suppose to review his book months ago, but I got, and still am, too busy.
Maybe I should read it now, you know, now that I'm a GAY STOCK TRADING WASH OUT.
PS (Timbo, you owe me like 1% on profit sales from the book for me posting this on my blog,,,heck I even put a picture)
In other news, I'm not only classified as a crappy trader now, but I'm now GAY.
I'll have you know, that I am the sexiest stock trader on the internet.
I challenge anyone to a posedown..........
I would post a pic of myself, but I don't think people would believe it's me, or it would be a total waste of time.
For stock picks, I would short IRE,
Oh,,,the Dow is back at 14,000.....The market is going to crash,,,the sky is falling.
Short China and go long homebuilders,,,,