Wow! Was I ever wrong! And am I ever happy! What? Oh yeah, man! (Emeril doesn't have that phrase copywrit - at least not yet). (By the way his Garlic Lovers Spaghetti sauce is out of this world wowee!). 'nuff about that - back to the market.
As noted in an earlier post today AAPL led the market lower because of their silly 4 penny miss. Now I was thinking - what if we all got together - all the AAPL shareholders (I am not) and gave them 4 cents out of our own pockets - do you think that would help? It's a thought.
In a later post I asked the musical question - whither the Q's next week and if you all answered up, up, and away - you might be right. In the past 6 months there has only been one down week followed by a down week - the rest have been up weeks and today was a super blow-off if I've ever seen one. A lot of crap stocks were sold today along with AAPL.
Day three of the GOOG short squeeze vigil passed without incident and I'm beginning to receive dispatches from the front - most of them saying things like - what the hell and are you kidding and who is the Jimmy Crack Corn Pone anyway? To which I can only reply - Jimmy said it - I reported it - some people believed it - and I don't care. Or in the words of my dear old Ma - Do Dah Do Dah Day.
I dumped Chiquita Banana today based on the fact that it didn't seem to want to go anywhere but held RX because I'm stupid. Also held GLW and SYMC and CRVL and added to the pain with S (Sprint). Why Sprint? Simple I read my Notable Calls this morning and Sprint is troughing (much like MOT I might add) and they are probably going to go up once all of this shake-out is over.
I might take a position in MOT tomorrow. And I heard about this little guy the other day, GTXI, that has something or other coming out of trials and the news is looking good. I might add a small bite of that to the plate as well.
Tomorrow is options expiry day and contrary to popular belief it is usually a pretty calm day. I expect a moderate to mild rally tomorrow.
And that is based on the up/down ratio printing 30% and the new 20 day high/low ratio printing 38% (they both went the same way for a change) and the fact that the VIX has climbed back up within the 5% range and the fact that every major index printed red in the final hour and GS, the proxy for the stock market of the 22nd century, printed a doji. I would like to see it go down again but trust me - everybody is in a hole and there is only one way out - up.
The magic coin says ... tails - bear market - we'll see coin, we'll see.
Marlyn is now 3 - 4 and 1 and the coin is 3 - 4 and 1. At least we disagree about tomorrow.