My Kind of Day

Slow and pointless. Good thing I have an appointment this afternoon - I'd hate to think I got out of bed for this. Isn't it interesting that the Q's are sliding sideways just like the Yen did all night? Well I find it interesting even if you don't.

I picked up some NFI and dumped TRA, CBK and DLX. TRA because it was going nowhere and I didn't want to have to wait another two weeks while it climbed back up 40 cents besides its chart was starting to look wrecked. DLX because it just opened and while everything else went up it didn't and I hate stocks like that - I want them to move - up down I don't care just move. Sitting around is for old people. And CBK because I just didn't really have my heart in that stock and as it turned out I managed to sell it at the high of the day. I made car fare off TRA and a happy meal off DLX and broke even (including commissions) on CBK so that's OK - just a waste of time and opportunity.

I've been watching NFI for two weeks and every time I say I'll buy this on its next dip it doesn't so I decided to put in a small position to entice it to dip so I could fill up later. If not today maybe tomorrow. Right now it keeps hitting R2 and I keep waiting for it to go back to R1 so I can get some more.

I'm watching STD and if I ever had to pick a symbol for a stock trust me - that ain't it - but I make take a small position at COB today. We'll see.

Currently I'm holding RHT, AKS, GGB and NFI. All are profitable and I will probably add to all of them before the end of the week.

Friday's Wraps

Watching paint dry. I thought we'd go down and I guess after this morning's irrational exuberance we were for much of the day. To finish some in the green after that took a lot of courage on the part of the bulls. But as expected we had an up week. Next week is just as likely to be down as up. Unfortunately, the INDU ATR actually went back up today so I'm not holding my breath for next week to be up. I think we might have one or two up days but the rest will probably be down.

Added to my TRA, AKS, and GGB positions, picked up RHT and was stopped out of AMMD. No loss on that - in fact a good gain but for the past two days it went nowhere and you know I hate those low volatility stocks. It isn't anything against the stock just the feeling that I could have the money working rather than resting. And it turns out that I sold off both GRA and TIE at the wrong time - but that's how it goes.

I read a guy's Blog today and he said he's holding 60+ stocks. That's a crime - just wasting opportunity - that's a guy who doesn't know when to let them go. Not every stock is going up all the time - if after a couple of days of no activity you might consider that it is done for this cycle and start looking for something new. Or dump it and put the funds into one of your more active stocks. There is nothing that says you can't reinvest in a stock you already own.

Nothing that I had selected to watch today went anywhere and while I'm sure something was moving somewhere it wasn't on my screen - except RHT and I had wanted a position in that one for some time now. After putting on an initial position this morning I added a bit this afternoon just before COB. I picked up RHT from the BOB set-up filter. It wasn't the only one that went up today but the only one I was interested in owning.

And if you are still doubting pivot points (I know you aren't but it never hurts to see a good example) -

You see how the Q's dropped down, hit S1 around 2 P.M. and then went back up again? That was when all of my holdings went back up too. Except I had added to a couple of them when they were down at their pivot points.

Everyone who thinks that this is a healthy looking stock - well - I don't obviously -

My latest theory regarding GOOG is this - people are selling to get their profits out to buy more shares of other stocks that are on their way up. Since 2/28 GOOG is up .78%, AAPL is up 3.967% and MSFT is down 3.16%.

Some stocks are behaving like nothing happened and I guess that's pretty good. I showed you GLBL the other day and it was just rolling along without a care in the world. Unfortunately I think yesterday it printed a maximum top. I won't publish it here but you know what that looks like - a Doji on the third gap-up day - and that's exactly what happened. Went down a couple of cents today - wouldn't be surprised if it dropped more on Monday.

The VIX is back to 10% below its 10-period moving average and we all know that that is not a good sign. And although the up/down ratio went down to 50% that is dead neutral and can't be relied on to give us a hint. 3 of the 4 major indices we follow (DIA, SPY, and IWM) all printed a white/green candle in the last hour as did GS. Only the Q's didn't but still output a Doji following another large white candle.

The 20 day high/low ratio remains neutral at 1 to 1 --- so in the face of all the evidence - especially this guy -

I'm going to forecast a down day on Monday.

Meanwhile the coin says ... tails - down day too. I've got to get the wheels balanced on that thing.

I'm calling today another stupid tie. The score now stands at Marlyn 19 - 13 and 6 and the coin is 17 - 17 and 6. This has been a bad year for Mr. Marky.

Marlyn will be going on one of his many vacations Monday and Tuesday next - I doubt that I will publish while I am out. I will put a few up over the weekend though and will be back on Wednesday in time for a wrap.