Took it easy today - the market wasn't doing anything special and I thought I'd just sit around and catch up on some reading and take care of some gardening - have to get it ready for the planting coming in a couple of weeks. So for all practical purposes I put the old account on cruise control and kicked back and enjoyed a day in the sun.
I checked in every once in awhile to see if anything was shaking but it was a typical last day of the quarter. Who wants to guess what next week brings? Tune in this weekend and I'll show you.
My trading portfolio remains the same - GGB and OI although I did cut loose some OI this morning as I'm getting sick of it hitting its head against the ceiling and dropping back. I'll use the funds for something better once they clear. That's the trouble when you are hitting 52-week highs over and over again for weeks on end - eventually the stock has to rest. It could go sideways for a number of weeks now and I won't hold it back.
MSFT remains trapped in the 27-28 trading range and I just don't know what could make it break out short of Gates announcing a massive buy back. APPL broke 95 again and instantly pulled back. It formed a "weekly" version of the "cathedral of dead money" I hope when it crashes that everyone is out of it - of course everyone getting out of it will be what makes it crash.
Finally, my personal favorite for tying up trader's cash - GOOG. It went nowhere this week and since everyone who must own it does own it and since it doesn't pay to own it I don't know why anyone does own it. I suppose it could sit in this groove for years - I mean why should it go higher - it hasn't got anything new to offer the market place - there is absolutely no way short of a massive buy back or firing 90% of their work force that can make any sort of additional revenue stream for this stock appear. And every penny of revenue from now until the year 2020 is currently in the price. If the market discounts the future - I think the story on this one is clear.
The model portfolio lost a couple to 6.59% and the benchmark (the SPY) printed 1.16. In the shootout between ANGO and TAG - TAG won with a 2.29% return v a .24% return - of course that was 3 cents on a 1.31 stock v 4 cents on a 16.89 stock and the fact that the 16.89 stock stopped going down is a good sign.
This guy remains in neutral - it almost hit -.005% today but at the last minute the market surged by a couple of cents to take it out of range.
That's really special - the market refuses to drop so it can climb - sometimes I wonder.
The VIX stays in neutral and the up/down ratio stays in mid-range - neither up nor down. With New MoMo in neutral I guess the market is going nowhere next week but more sideways.
My forecast for Monday - down. The coin says .... tails - down.
Another tie today - I have never seen so many in-determinant days in years. I guess it just means that the world is catching up and eventually everyone will be on the same page again.
Anyway the score is now: Marlyn 24 - 20 and 9 and the coin is 24 - 20 and 9.