Monday, April 30, 2007

Wrapping Monday

Somebody pulled the plug and let all of the liquidity flow out of the market at about 2 P.M. - I know my trading portfolio was affected and I'm sure most people took a hit or two. Not sure what it was all about but the Q's dropped through S2 all the way to S3 and if 4 P.M. didn't come they might be falling still.

I'm going with the "profit-taking" theme which is as good as any. Although why all of a sudden at 2 P.M. except, as normal, that's when the program trading machines kick in. This is, after all the end of the first month in the quarter and the fund managers want to have some cash on hand so they can be ready for the buy-fest over the next 7 days or so.

I'm still holding AKS and took advantage of today's pullback to add some more and we are now at full weight. I don't think I'm going to add more at this time. GGB is still in the mix as is DISCA which I decided to hold overnight. Disca is not my kind of stock - it moves too slowly for me and I always feel that I'm wasting opportunity by holding such stocks. But I'll see what happens tomorrow - I was hoping for a 30 cent day today but it didn't happen. Maybe tomorrow. Dropped DPTR for a small loss and I dumped out of JST for a huge profit. I love it when they just explode up for small reasons - apparently they are doing well - whatever it is that they do.

I won't pick on the three amigos tonight because they all went down but not much. AAPL and MSFT lost in the cents range and GOOG lost equivalent in the bucks range - in other words their holders didn't sell them off like a lot of other stocks got sold off.

The model portfolio got ripped and dropped to 12.92% and the benchmark dropped to 5.13%.

The INDU ATR is still coming back down - it printed a 98.15 today. Remember 80 is the floor and that's the number we have to watch for.

The VIX is finally 10% over its 10-period moving average and that is a milestone of sorts and the best news is that the up/down ratio printed 30.15% and that is just pure pleasure - this guy, the NewMoMo dropped to split the 0 line -

and that normally presages a market reversal - up.

My forecast for tomorrow up, up, and away.

The coin says ... heads - also up.

The coin beat me again. The score is now Marlyn 27 - 28 and 12 and the coin is 31 - 24 and 12.


Anonymous said...


You would love to play backgammon. Quite a bit of gambler there, too.
And a lot of fun.............


Bullish Jim said...

That's a nice winning % your coin has going. I may start buying the QQQQ based on what the coin tells me. :)