Thursday, April 05, 2007

Wraps For Thursday

Ugh - I wasn't up to speed at all today. I don't know when this market is going to go down but this burn up is going to drive me nuts. I don't know where the liquidity is coming from to buy the stocks that are being bought but there is a lot of money all of a sudden available and a lot of stocks being grabbed up.

I added to GRA and put AKS in the trading portfolio. I took some day trades - none of which worth much. I took MVIS off a tweezer bottom this morning and cashed out 14 cents later - whoopie - I just can't bring myself to "believe". Tell me - who in their bleeding right mind can "believe" in this crap - A perfect rounder between pivot points ...

Took a shot at IAAC and that was a wild ride to a 32 cent loss. Then I had PMTC for most of the day and took 18 cents off of it. Between MVIS and PMTC I made up for my loss in IAAC except for three round trip commissions. Fortunately AKS and the added value to GRA more than adequately made up for that loss. But still it was a loss I shouldn't have taken.

I think I'm going to stop with the tech stocks all together - they're mostly junk, selling junk, or, like RACK this morning, junky crap selling junk that absolutely no one wants or needs. The one that I wanted to buy, HLYS, just got too expensive too fast and I just said no.

I wrote about three stocks this morning that I read about on from Notable Calls. PFE made 3 cents, NKTR was dead even for the day and JSDA went up 70 cents. Had I kept the latter on my screen I could have picked up a nice BOB around noon time.

Philip designed and gave me a great set-up and I'll work on it over the weekend and see if my initial take is correct - and that take is something like - wow!. Go read his comment on it under this post. I've been looking at a number of other stocks and finding this set-up in a number of them and it looks like it has a great future in the 15- and 30-minute charts. Thanks again Philip. I am always interested in exploring new set-ups.

The model portfolio lost a smidgen to 11.57% and the bench mark posted 2.77%.

The three Amigos had a booming day - the 471 dollar stock gained 50 cents, the 94 dollar stock gained 41 cents and the other piece of crap gained a nickle - all of you MSFT owners - bet you're feeling rich tonight. In one month MSFT has managed to net 23 cents. That's a one hellofa month there, Clarice. Now if we take that out to 12 months that would be $2.76 cents and that's if it keeps going up. That would mean that you could invest all of your profits in a happy meal and have a little left over for a Moon Pie and an RC cola.

The INDU ATR went up a bit again today but only cents to 104.58 and I still say it hits double digits next week and we will be clean and green until the next world monetary crisis. This guy went up some more and that is worrisome but it went up last time without going down which is one of the reasons why the market is just spinning its wheels.

The VIX once again slipped to 5% under the 10-period moving average and the up/down ratio went to neutral - 54%.

Given the fact that we need a down day but since Monday's are never down especially after three day weekends - I'm calling Monday - down.

The coin says --- tails - also calling for a down day.

I missed but the coin hit so the score is Marlyn 24 - 24 and 9 and the coin is 26 - 22 and 9. Luck is prevailing in this contest - I'm going to have to look for some new indicators.

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