What the $%@&* Trading!

Isn’t that what just happened? Buyers ran the market up yesterday on the “rumor” that Obama would win. As soon as he did, sell, sell, sell! That was some dive today….but on lower volume. This may have been a healthy pullback…..large, but healthy.

With markets overbought and the VIX oversold, it was bound to happen. I’m gonna look for some more down, maybe a gap tomorrow, and then back to a bullish up pattern with all this election stuff dissipating. Take it easy gang…you don’t have to trade every day…cash is a position

The Dow had a 450+ point rally late in the day…and the index still closes down -369 ! I just sat around and watched. This is history breaking, once in a lifetime market action going on here. I was busy moving from chart to chart checking out the action. I did do a daytrade on DNDN just to make some lunch money

Some of the indicators I was watching were incredible: Advancing issues vs declining was at one time -3000 and A/D volume was 1 to 270! The VIX almost made it to 60. New High/Lows was 1 new high to 1627 new lows…wow!

Oh where oh where is that bottom

The Dow and S&P eeked out some green on Thursday on lower volume…every little bit helps. When everybody gets back from the holiday weekend, Monday, but most likely Tuesday, maybe we’ll see some activity. Did you notice the VIX came back down? One of these days we are going to have to pay the piper with a rush down in price and a rush up in volume and VIX. But when?

For now, let’s go drink beer and rush into some hot dogs and burgers. Have a safe and fun Independence Day…and don’t forget all those people that have fought for that freedom!

…but I was looking for a bounce, I wanted a bounce, I didn’t get a bounce But I also was not expecting a triple-digit decline either. Most of the day I was thinking “okay, another doji day,”…..but at 2 o’clock it was over, down, down, down. I heard all kinds of excuses: GM at a new 54-year low, a bomb at LAX, traders leaving for the long weekend. I chose the latter. I’m not all cash, but by 1PM tomorrow, I will be. I’m gonna have fun this weekend and I don’t want to be worrying about stocks.

The Dow down -166, S&P down -23, the Naz down -54…what the $%@&* is that? Do you think they’ll remove GM from the DJ30? Is the market going to $h!t? I’m gonna just forget about it for a couple of days, after I cash out tomorrow, and get back into it Sunday afternoon.

After all that, VVUS did okay today, but another favorite ROYL crapped out. Even DNDN showed some life….I’ll have to watch that next week.

Tomorrow, although a shortened trading day, will provide some volatility fodder. The European Central Bank will be announcing what they will do with rates early in the morning. Then the U.S. employment for June is due. The VIX had a jump late in the day which means traders are afraid…maybe not afraid, but buying a lot more puts than calls. We’ll have 3 and a half hours of fun, fun, fun before breaking out the beer and hot dogs. See ya tomorrow

Dow at new lows for the year, S&P flirting with the lows, all while the VIX is pretty benign. Volume is about average but increasing as we go down. Don’t see the bottom yet, but I gotta think the cat is gonna bounce…maybe this week since the floor traders will be thinning out towards the weekend, Thursday is a short day and Friday we’ll all be eating hot dawgs and drinking beer

A couple stocks I’m adding to the watchlist for Monday: SATC CHP ONNN PARL and KKD. They have all had big run ups then pulled back or consolidated and now I think they’re ready to go again. Of course a lot depends on what kind of market we have and if there are any buyers around.

And remember, Monday is the last day of the 2nd quarter and 1st half of the year. See you on the playing field…happy trading!

Coca Cola (KO) was the only Dow Jones Industrial stock that closed in the green. The other 29 member stocks were in the red. The futures, news and stocks started out crappy and just turned to sh!t by the end of the day. I spent the morning cutting losses and getting to cash on the sidelines. Volume was up but action was still unexciting. The VIX got above 23 but settled under. Looking for bottoms I would suspect we would get over 30 even over 40 if we were going towards a major bottom.

Can’t blame it on oil this time. Yes it moved up…a little, but the blame has to go to investment banks and the downgrade of the automakers. As if the Dow losing 220 points wasn’t bad enough, it was the third triple loss of the week and makes the week down 1,000+. The Dow is not too far from its March lows, which would also be its 200 week moving average.

On the other hand, the broader index SP-500 looks like it may be getting support at its 200 weekly moving average which is above its March lows. The Nasdaq isn’t even close to its March lows.

To bounce or not to bounce, that is the question.

So alluring, but oh so dangerous The VIX moved up over 2 1/2 points before settling in at an even 2 points for the day. The Dow made a hundred point move off the lows. Boy it looks enticing for tomorrow, but I’m gonna sit for the first hour and see what it does. That confirming down candle after the doji Friday on the Dow makes me a little worried.

(ROYL) and (XRM) did good! So did (FPP)…but I missed it Oh well, I wasn’t in front of my screen all day…missed most of the morning. So let’s see what I can do tomorrow….

Will be watching (NCC), (CPSL), (TWP), (EGY), and (SPF)….among others, but I’ll look at more charts later.

The Dow took a little loss on Friday, but it and all the other indexes all had an up week. The Nasdaq closed above its daily 200 day moving average, and so did the Russell 2000. Hopefully the Naz can pull the Dow and SP up with it.

Going through charts for the past couple hours and a few look nice: (ROYL), (DSTI), (CFW), (PWAV), (CPSL), (FPP) and (XRM). Gonna look for a couple short candidates also, but that’s always tougher for me.

This week brings up the Hourly payroll and Earnings reports, a volatility inducing report. Speaking of the VIX, it’s low but still has room to go lower. Remember just 18 months ago it was below 10

Happy Trading y’all

Yep, 2 up days in a row…and a bit stronger than yesterday. We are kissing the 200ma in the Dow and S&P, so we’ll have to see if we get turned away. Tomorrow is options expiration Friday, so it may get a little crazy anyway.

(MNKD) was my star today…got in and out a couple times. (IDMI) and (IAR) were nice also.

I’m still watching (VNDA), but also added (NT), (RHD) and (BIOS).

This morning was great, gangbusters out of the gate. But, at 2:30, a u-turn and down they came. I thought we may even get into the red….real close for the Nasdaq….the Dow and S&P had more of a cushion, but still ending in the lower half of the range. Not bad overall. Better than expected CPI numbers were the big push, but I’m not sure why the late day sell off. And did you see the VIX get under 17?

Had some good plays (DNDN) (DGLY) (MVIS) and (QTWW), but I was bored after noon. Tomorrow I’m watching (BIOS), (VNDA), (GFG) and (MNKD). Happy Trading

A good day. Yeah, I know the DOW was down, but the S&P 500 closed right about even and the Nasdaq and the Russell were up. Even the volume picked up a bit. Sure would like to see some follow through. Anyone notice how low the VIX is getting?

Overall it was a great day of trading? Some nice movers (MVIS), (DNDN), (QTWW) and (SSBX). And even more nice chart setups (ANPI), (SPSN), (MNKD). Need to find more….

…a great day in the market…for me anyway. Tagged a lot of winners today: (CAR) (HYTM) (PGNX) (XRM) and (DCR). It started lousy with some bad reports in housing and durable goods, but some good earnings reports and a great performance by the U.S. Dollar (USD) set off the rise in the stock market. Volume did start to creep up all the way to average

The Nasdaq continued its strong move with (AAPL) moving up and (GOOG) having a pretty wild ride, although ending in the red. And that VIX is pretty low, bullish. This exciting week comes to an end tomorrow, so it may be time to take the profits and run. This should be interesting….happy trading