Started off a bit ugly but quite a day by the end – however, there was a last minute pullback on more rumors of downgrades on bond insurers. Gotta get that under control.
Glad the month is over – it kinda sucked!
Opened:
GTrades pick
Month to Date:
My ports: -10.58%
Brokerage: -7.08%
BBE Overall: -11.86%
% of Trading Targets reached: -374.38%
I’m screwed ratio: 30.7 to 5.8
Long to Cash %s: 81.57% to 18.43%
No sooner did we get a good rally going than the bond insurer rating cuts came around. Someone (government, private industry, I don’t know) needs to get this under control. We cannot continue this tapdance.
Closed:
[a] MO, +3.1%, held 7 days
Opened:
GTrades pick
Month to Date:
My ports: -12.10%
Brokerage: -8.17%
BBE Overall: -13.28%
% of Trading Targets reached: -427.25%
I’m screwed ratio: 46.7 to 5.7
~~~~
[a] AAP pick
Way to go FED!
and the VIX is on it’s highs for the day – folks seem to be getting nervous… Guess that 94% chance of a 50 point cut we saw just a day or two ago isn’t so sure anymore…
Another relatively quiet day. Good for the port, though.
YHOO not impressing folks after hours.
Tomorrow should be interesting to put it mildly. I’ll admit to some nerves as to what 2:15 brings tomorrow.
Personally, I think the economy could use 25 basis points – but the markets need 50. Of course, the economy needed rate cuts last MARCH and we didn’t see any action until when?? I’m keeping my expectations very low – I would be disappointed, but not shocked if there were no rate cut at all tomorrow.
Closed:
[a] SY, +5.18%, held 10 days – GTrades – decided to cut and run on this one – with the Fed tomorrow, I saw no reason to risk that profit.
Month to Date:
My ports: -11.67%
Brokerage: -7.69%
BBE Overall: -12.54%
% of Trading Targets reached: -385.03%
I’m screwed ratio: 38.3 to 5.8
Unfortunately the port didn’t really swing with the overall market. Can’t win ‘em all.
I’m still very concerned about the Fed meeting.
Nothing closed, added to 2 AAP positions.
Month to Date:
My ports: -12.41%
Brokerage: -8.29%
BBE Overall: -13.31%
% of Trading Targets reached: -410.28%
I’m screwed ratio: 49.1 to 5.7
Not the best of days, but it could have been a hell of a lot worse. Mainly profit taking and some skittishness going into next week’s FOMC meeting.
The big question for next week is not “How much will the Fed cut rates again?” but “Will the Fed cut rates again?” – I think at best we’ll see 25 points.
No buys or sells today.
Month to Date:
My ports: -11.75%
Brokerage: -9.21%
BBE Overall: -13.02%
% of Trading Targets reached: -287.73%
I’m screwed ratio: 49.1 to 5.7
Asian markets up, US Futures up.
If we can get some good earnings reports in the morning, we could very well have another good day.
Big earnings names tomorrow:
AM:
GWW, HOG, CBH, HON, WFT, CAT
PM:
LRCX, JAVA
No time given:
FO
It was so nice just to have calm, quiet, UP day. Got more specifics on the stimulus plan, MSFT had a good quarter, things are definitely looking a touch brighter.
Closed:
[a] GLW, +3.2%, held 3 days
Opened:
GTrades pick
Month to Date:
My ports: -11.38%
Brokerage: -8.58%
BBE Overall: -12.37%
% of Trading Targets reached: -269.33%
I’m screwed ratio: 48.9 to 5.8
~~~~~
[a] AAP
Came off our lows for the day because…
a) Double bottom in the S&P’s
b) ECB rate cut rumors
c) Bond insurer bailout rumors
d) I was an idiot and sold some things before I should have
e) All of the above
Yes, I am absolutely KICKING MYSELF over those realized losses. It was not panic selling – they were issues I wanted to dump, but my intraday timing on those sells was absolutely horrific. Why I didn’t just wait until the damn end of the session is beyond me. Oh wait, I know – I’m a dumbass. And I don’t think we’re going to see another up day like this anytime soon. (I very much want to be wrong.)
But, since 11/1, the Wave Chasing port is still beating the S&P, but it could be by a lot more if I’d not screwed up today. This will be corrected in due time.
Closed:
[a] QGEN, -16.22%, held 9 days (stopped out)
[b] AMZN, -16.01%, held 9 days (stopped out)
[a] GILD, -12.03%, held 10 days (stopped out)
[a] JNJ, -4.35%, held 52 days (stopped out)
[a] BEC, -10.37% held 6 days (stopped out)
[a] FLIR, -11.07%, held 5 days (stopped out)
[c] STJ, +3.22%, held 4 days
[c] NYX, +3.21%, in/out
Opened:
2 AAP picks
Added to 2 existing AAP picks
Month to Date:
My ports: -12.58%
Brokerage: -10.25%
BBE Overall: -13.79%
% of Trading Targets reached: -303.78%
I’m screwed ratio: 49.1 to 5.5
~~~~
[a] GTrades
[b] 3×2
