Since the “big boys” were playing with their portfolios today, I thought I would do the same 
I cleaned out a few losers…like some ethanol plays that didn’t pan out, aka PEIX….Dumped a couple of biotechs, AVII and STEM….and got in and out of EEE.
Otherwise, the day was better than I was predicting….and it would of been even better if a had dumped my losers at about mid session rather than the end of the day. It really sold off there at the end 
But it looks like the 20dma provided support for the indexes, Dow, S&P and Naz.
I’m going to continue to play the long side this week, at least for the first few day, and see how that pans out.
A down week, on low volume, after two strong up weeks. We’ll have to see if the Dow has found support at 12,200. The S&P500 and the Nasdaq look like they may have some support at their 20dma.
Monday is the last trading day of the quarter, so some manipulation by all those mutual funds and money managers may be had. No matter which way we go, up or down, we need some volume to make it count 
Published on
March 27, 2008,
9:47 pm in
Daily and Trading.
Tags: DJ30, DNDN, GOOG, moving average, Nasdaq, QQQQ, RMBS, SIGA, VNDA.
ORCL dragged most of the technology stocks down today, and thus bringing down the Nasdaq and the QQQQ. Looks like the 50dma has broken, except maybe for the Qs, so the next hope is for the 20dma to act as support.
In the mean time, individual stocks, on both the short and long side, are making us a few bucks. VNDA has been good all week, and even DNDN was nice. Both are in the biotech industry. SIGA took off early, but retreated throughout the day. The RMBS pullback was good for 2 bucks and even GOOG shaved 3% off the top.
The Dow has been down the last 3 days on below average volume….and tomorrow is Friday. Hope the mood is better
The paint is dry, so there wasn’t much to do today. Yeah, the Dow dropped 100+ points, but on even lower volume than yesterday. What’s everyone doing?
The Dow and the Nasdaq are still above their 50 day moving average, but the S&P500 closed just below…but really close. We’ll have to see if we find support or go looking for the 20dma. The Qs took a small whack afterhours…I think because of ORCL, but RMBS sure took off to the upside!
The Nikkei opened lower and moving lower, but still lackluster. Another 11 hours until the U.S. markets open, so we’ll see then.
Happy Trading….if you don’t fall alseep 
The Dow down a bit and the Naz and S&P up a bit….and the volume was even lower than yesterday
Since it’s still winter here, I couldn’t watch the grass grow, so I watched the paint dry instead…yes, boring! Hope we have some spice soon.
I’m going to scan the market and look at charts. Anybody using Trade-Ideas?
Wasn’t that fun 
Right from the get-go we were looking to go long…and we landed a couple of good ones: GGC TONE and CNTF were winners for me today. I’m still in GGC overnight, so I hope tomorrow has some more follow-thru. The only downer I see was the light overall volume in the markets
It’s been a month since the Dow was above 12,500 and what was really nice is that the SP500 closed above it’s 50 day ma. I guess some profit taking should be expected tomorrow, but I hope it’s in the morning and the up move continues in the afternoon.
As you can see I haven’t posted since Monday….all because my hosting company screwed up my website again. But that didn’t stop me from participating in the markets.
Monday was an indecisive day, with a wild range but only up 21 points, the Dow that is….advantage bulls. Tuesday was a wild up day
from the start, but really liked the Fed-speak, ending up 420 points….advantage bulls. Wednesday we gave back more than half of our gains from the day before, down 293 points….advantage bears. Friday we gained back what we lost Wednesday, up 261 points…advantage back to the bulls…3 out of 4 ain’t bad….but we have to see follow thru on Monday….please, please.
Reports that may affect the markets next week: Existing and New Homes Sales, Q4 GDP, Core PCE Inflation, Initial Claims. And don’t forget the Fed-speak…we have two Fed Governors making speeches on Thursday.
Happy Easter!
With all that bad news we were ready for the worst. Futures were way down, Asia and Europe were way down, but the U.S. had a whimper open. At least the red – green formula is still intact.
I’m still scared of this market, not really getting any signals or directions. With the Fed expecting to make a full point rate cut on Tuesday will the market rabbit to the upside? It usually takes a day or two before the market shows what is thinks of the Fed’s decision. That barely gives us enough time before the markets close for the long Easter weekend.
Didn’t play nothin’ today. This evening, the Nikkei opened to the upside and so are the U.S. futures. Let’s see what tomorrow brings.
Hope you weren’t holding BSC…unless you were short. I was short on Friday, but didn’t have the balls to hold over the weekend. Yes, millionaire status lost again.
Misery loves company, so you may want to listen to some of the stories or watch some of the videos on I Got Cramered. Ouch, ouch, ouch! This is a website dedicated to all the poor advice and subsequent investor damage caused by Jim Cramer on CNBC.
But seriously folks, the financial companies and banks will be taking a hit today. Will the rest of the market follow suit? The January lows should come into play. The VIX will definitely be flying high today as fear and uncertainty floods the market place.
And Happy St. Patrick’s Day 
Well, as the rumors had it, BSC is no more….acquired by JPM at….drum roll please….$2 per share
Effective immediately, JPMorgan Chase (JPM) is guaranteeing the trading obligations of Bear Stearns and its subsidiaries and is providing management oversight for its operations. Other than shareholder approval, the closing is not subject to any material conditions. The transaction is expected to have an expedited close by the end of the calendar second quarter 2008. The Federal Reserve, the Office of the comptroller of the Currency and other federal agencies have given all necessary approvals. In addition to the financing the Federal Reserve ordinarily provides through its Discount Window, the Fed will provide special financing in connection with this transaction. The Fed has agreed to fund up to $30 billion of Bear Stearns’ less liquid assets.
As of Sunday evening, US Market futures and European futures are down….Asian markets are tumbling. Any guesses for a Black Monday 
Update one hour later:
Asia markets down over 4%+….translating that to the Dow means a drop of 500 points 
Published on
March 14, 2008,
10:17 pm in
Daily and Trading.
Tags: BSC, capitulation, DJ30, Fed, futures, JPM, LEH, moving average, rate cut.
Futures looked like we would have a powerful open to the markets. We had a whimpering up open that lasted 15 minutes. Then everyone figured out that if the Feds were bailing out BSC, it had to be a lot worse than we thought. The markets, as well as BSC, dove, and fast. The next half hour saw a 300+ point drop in the Dow before a 200 point recovery and then a continuation back down to revisit the day’s lows. All the markets closed well below their 8 exponential moving average.
Now, if you were paying attention BSC was a great play up and down. I first got in at 27.07 and road it up until 34.36. I sold half and then sold the other half at $35. I then got in at $34 on the way down and got out about an hour later at $32…I didn’t have the kahoonas to play until the end of the day for another 2 dollars. BSC closed at $30. Rumor has it BSC will be gone by Monday. Now we’ll see how LEH does.
Next week may be real crazy….Fed meeting on Tuesday, option expiration on Thursday and a day off on Friday. This might be rough 
Black Friday? Markets collapsing…Bear Stearns cut in half! Man oh man, it’s here 
Revised: 10 minutes later……
Plunge Protection Team has stepped in. Fast 100 point recovery and still moving up. Now looking for a doji day.
