But I said "We are going to have a boomer tomorrow or a crash - I'll go with an up day."
That was after I said that the INDU ATR had slipped below 80 again. Now there was no reason for that to happen unless ...
Oh well - the first thing I saw as TLB drop to 20.24 from 25.90. I instantly tried to buy every share available - but - guess what - nobody was really selling at that price so now we have a false spike in the data and that just screws up the charting.
But I did double up on LQDT and am already showing profit there. The market is settling and even coming back - the Q's are already 27 cents higher than the low of the day and going up.
My worst holding right now is WIT and I'm probably going to dump that one later today if it doesn't recover some.
I said we needed a nice blow off and with any luck plus some perseverance on the part of the bears this might be it.
LQDT just flashed green after being down 90 cents. (10:17).
What a day its going to be - a lot of opportunity for the day traders and not on the short side - everything is so overblown it's cherry pickin' time.
Showing posts with label WIT. Show all posts
Showing posts with label WIT. Show all posts
Tuesday, February 27, 2007
Monday, February 26, 2007
Wrapping Monday
I did well today - I got rid of all of my dead wood including TLB on its initial pop. LQDT went up for as much an unknown a reason as it went down the other day and I bought back TLB, CRI, and WLT. Kept WIT that I bought this morning and doubled up on it this afternoon. It didn't go anywhere today but I'm thinking that is because the market didn't go anywhere either and tomorrow will be an up day. Unless ...
Let's parse that headline - the market went down because the market participants are afraid that the market is going to go down.
It's a shame that America has lost its ability to have a laugh without a lot of foul language or sexual innuendo because that. is. hilarious.
What else did we learn today? The Tres Amigo were down some, down a bit and up a little. GOOG was down some and that makes sense since I think the shine is off that apple - AAPL on the other hand only dropped a bit and MSFT finished the day with an unexpected gain. I don't know how anyone can invest in MSFT these days - talk about a company that is used up. They are probably going to stay in this range for the rest of their existence - and if you don't think that is possible - trust me it is. The only way Gates or whomever is going to change that is with a massive share buy back and that is probably not going to happen. And even if it did it would only move them to another range where they will be locked.
MSFT is a commodity and it will trade like a commodity with the only problem being it will never be in short supply like a real commodity so it will never go up as a result of demand. There is absolutely no product that MSFT can come up with short of a cure for AIDS or Black Lung that will get them any momentum. And I'm not talking about the odd buck and a half here and there I'm talking about the kind of stooch that makes something like this happen -
Another Seattle firm - well - formerly of Seattle. ("stooch" is an old New York word that means whatever you want it to mean that is big and hairy with cajones that drag along the ground when it moves. I'm not even sure what language it comes from).
The best thing that can happen to MSFT is a correction that takes it back down into the teens so it can come back up to 30 again.
Anyone catch the HPQ and DGX action - today would have been the day to back up the truck and do the triple buy. Of course you could have done that on FRO at 2 P.M. and made some before close. I shouldn't pick on Jimmy Crack Corn Pone - there are like 800 web sites out there that specialize in it but I'm still waiting for that GOOG short squeeze - and I'm not kidding - One would think that GOOG would be shorted to a how d'ya do but it would only take 1 day to cover. Contrast that with TRLG which would take 16 days to cover - absolutely nobody expects that one to go up. FRO also has a heavy short interest (9 days) so who knows.
WIT is an Indian company and I saw this headline under its summary on YHOO finance. I'm not sure what people expected - once labor becomes educated enough to be able to use the internet they find out how cheap they are and guess what - they don't stay cheap. Apparently they don't have enough IT workers in India so they're outsourcing the work to the United States to meet their contracts. Kids - you can't make this stuff up.
SSCC shot up out of the gate and then dropped back into a dull sideways move and I couldn't find a reason to buy it.
The up/down ratio stayed the same as the other day at 41%, the VIX is over 5% away from its 10-day moving average, the INDU ATR slipped back below 80 and the INDU RSI is below 5. And this indicator is massively oversold
We are going to have a boomer tomorrow or a crash - I'll go with an up day.
Meanwhile, the coin sat quietly by all day today waiting for its magic moment and the coin says ... heads - up day tomorrow.
The coin won today's race and the score is Marlyn 15 - 11 and 5 and the coin is 12 - 14 and 5.
Dow Finishes Down 15 at 12,632, Nasdaq Finishes Down 11 at 2,505 on Market Correction Concerns
Let's parse that headline - the market went down because the market participants are afraid that the market is going to go down.
It's a shame that America has lost its ability to have a laugh without a lot of foul language or sexual innuendo because that. is. hilarious.
What else did we learn today? The Tres Amigo were down some, down a bit and up a little. GOOG was down some and that makes sense since I think the shine is off that apple - AAPL on the other hand only dropped a bit and MSFT finished the day with an unexpected gain. I don't know how anyone can invest in MSFT these days - talk about a company that is used up. They are probably going to stay in this range for the rest of their existence - and if you don't think that is possible - trust me it is. The only way Gates or whomever is going to change that is with a massive share buy back and that is probably not going to happen. And even if it did it would only move them to another range where they will be locked.
MSFT is a commodity and it will trade like a commodity with the only problem being it will never be in short supply like a real commodity so it will never go up as a result of demand. There is absolutely no product that MSFT can come up with short of a cure for AIDS or Black Lung that will get them any momentum. And I'm not talking about the odd buck and a half here and there I'm talking about the kind of stooch that makes something like this happen -
Another Seattle firm - well - formerly of Seattle. ("stooch" is an old New York word that means whatever you want it to mean that is big and hairy with cajones that drag along the ground when it moves. I'm not even sure what language it comes from).
The best thing that can happen to MSFT is a correction that takes it back down into the teens so it can come back up to 30 again.
Anyone catch the HPQ and DGX action - today would have been the day to back up the truck and do the triple buy. Of course you could have done that on FRO at 2 P.M. and made some before close. I shouldn't pick on Jimmy Crack Corn Pone - there are like 800 web sites out there that specialize in it but I'm still waiting for that GOOG short squeeze - and I'm not kidding - One would think that GOOG would be shorted to a how d'ya do but it would only take 1 day to cover. Contrast that with TRLG which would take 16 days to cover - absolutely nobody expects that one to go up. FRO also has a heavy short interest (9 days) so who knows.
Cost Of Talent Skyrockets In India
WIT is an Indian company and I saw this headline under its summary on YHOO finance. I'm not sure what people expected - once labor becomes educated enough to be able to use the internet they find out how cheap they are and guess what - they don't stay cheap. Apparently they don't have enough IT workers in India so they're outsourcing the work to the United States to meet their contracts. Kids - you can't make this stuff up.
SSCC shot up out of the gate and then dropped back into a dull sideways move and I couldn't find a reason to buy it.
The up/down ratio stayed the same as the other day at 41%, the VIX is over 5% away from its 10-day moving average, the INDU ATR slipped back below 80 and the INDU RSI is below 5. And this indicator is massively oversold
We are going to have a boomer tomorrow or a crash - I'll go with an up day.
Meanwhile, the coin sat quietly by all day today waiting for its magic moment and the coin says ... heads - up day tomorrow.
The coin won today's race and the score is Marlyn 15 - 11 and 5 and the coin is 12 - 14 and 5.
Monday Monday
Bought WIT and CRI - sold WLT and SYNA - the latter two I sold for not doing anything other than moving sideways. Sold TTI - earnings are coming Wednesday and I really liked the pop I got this morning. I'm in WIT off the RSI 2 filter and CRI because it looks like it might go up a few cents before noon.
I'm 19 cents away from breakeven on LQDT and 19 cents away from stop loss on LQDT - every time it hits 19.30 a bunch of sell orders hits the wire and it can't get by that spot.
These are the days I hate the most - market explodes up in the first five minutes comes back and then sits.
Well I can sit too.
Update - And of course as soon as I sell WLT it takes off for parts unknown. I knew it would I just had to sell it in order to induce it to move.
I'm 19 cents away from breakeven on LQDT and 19 cents away from stop loss on LQDT - every time it hits 19.30 a bunch of sell orders hits the wire and it can't get by that spot.
These are the days I hate the most - market explodes up in the first five minutes comes back and then sits.
Well I can sit too.
Update - And of course as soon as I sell WLT it takes off for parts unknown. I knew it would I just had to sell it in order to induce it to move.
RSI Selections
Well I spent some time looking at RSI(2)<5 selections over the last month or so and of the top 5 each day 3 were winners and 2 were losers on average - But that begs the issue of how did they do when the market was down and in the last 18 trading days the market was down twice and both times the filter outputs did very well.
I did find that if the filter picked a stock below the lower donchian band it did better than one that was coming off the top band. This would probably work the same with bollinger bands too - so maybe a two parter is a better way to go.
At any rate the market is down as of Friday, is probably going to go up today and my top 5 selections are - WIT, LYV, EXR, ANW, and MHO.
I'm going to put these on the watch list and if they start stirring I might take some day trades in them.
Not an invitation to speculate in the stock market - just an observation.
I did find that if the filter picked a stock below the lower donchian band it did better than one that was coming off the top band. This would probably work the same with bollinger bands too - so maybe a two parter is a better way to go.
At any rate the market is down as of Friday, is probably going to go up today and my top 5 selections are - WIT, LYV, EXR, ANW, and MHO.
I'm going to put these on the watch list and if they start stirring I might take some day trades in them.
Not an invitation to speculate in the stock market - just an observation.
Subscribe to:
Posts (Atom)
