This time last year the news was hopeful yet I started shorting the indexes. Barton Biggs once told me that " The Stock Market is a cruel mean sadistic bitch!" Last week is a case in point: the jews are attacking Iran, Oil is priced on the moon, the Regional Banks are collapsing, Louise Yamada is forcasting a drop to dow 10000, Ambac & Mbia were downgraded, Ford & GM were placed on credit watch, the full moon hit wednesday, and we had a quadruple expiration Friday. The news is horrible yet the charts look great. Im fully invested but hope I don't have to suffer like I did last year, but you know after 40 years I always expect to fight my way out of every alley!

The Markets are always good for entertainment if nothing else.Thursday the Bears paniced when the S&P 500 crossed 1400 triggering a lot of buy stop orders. Some just covered others went outright long before the Friday Employment #. Bad move the # was horrible and the market tanked taking out the lower S&P support at 1370. Confused I'm sure you're not alone, Friday the market established a trading bottem after throwing a lot the fast money wise guys off the Train.

The "Neverending Story" continues, took profit friday at the close thought I'd be out for a couple of weeks but the violent monday/tuesday correction put me right back in again. Looks like the only way I'll stop is when I finally get fitted with my big toe tag!

Market opened today on a trendline, went long the S&P's (SSO). Everytime I think I know what I'm gonna be doing the next day, I'm wrong. The facts are constantly changing so when the bell rings I just play the puck where it is. We'll see!

"He did real well for awhile." This is one of my favorite code phrases usually denoting another idiot with some hair brained trading strategy on his way to poverty. I've watched many new stock traders come and after one or two good trades they always think they can fly, gravety unfortunatly always works every time it's a cruel sport. One or two good trades,thats luck, seven or eight, thats a streak, so far this year I've completed 39 trades so I guess that's my business. --- Had a great week covered my shorts (sold my QID & SDS) at the close friday when the Techs started digging in. A Bird in the hand is worth 15 in the bush to me. Stay tuned cash always burns a hole in my pocket.

So much for my vacation. The volume on the NYSE is pitiful -- did a little checking over the weekend it appears that the new players are buying otc or equity options and whats really alarming most of this business is coming from the Discount Brokers.Can you say speculation? Took a 1/3 short position at mondays opening figured I'd get more at the close but the market caved in at that afternoon.Not sure what I'll do next so stay tuned. For the record I'm now long the QID and the SDS. By the by beautiful Full Moon isn't it.

The S&P's expired at the close today and so did I, This is a "quick mans game"(as a friend once said", sold everything but didn't short anything in turn,just went to cash. This is possibly the first time since 2002 that I've been neither long nor short. Strange feeling! I chart everything and just too many charts were blowing out on to little volume since this is May thought this was a great time to go away. Did a fast Bean Count this evening, my account is up 85% year to date and this figure includes some pretty mindnumbing losses in MSFT,YHOO and WM. The one lesson I've learned this year is to never trust the Financials (Bankers, Brokers or Credit Card Companies.) Those who question my financial conduct should well reguard their own. When the tide goes out remember I'm still wearing my trunks.

Discipline is what you do when nobodys watching. Bought YHOO after I took my whipping in MSFT last month thought I'd roll right back into MSFT and recoop my loss. It was the old out of frying pan into fire trick. The deal was troubled from yhe get-go. I decided to sell thursday after I watched Steve Ballmer ranting like Crazy Eddie, the Indians stayed away from crazy people and thats about the way I feel about it too. The single worst piece of financial advice ever given is "don't panic." Not me brother I've learned the hard way that sometimes ones best move is to run. Sold YHOO and JNPR thursday felt like a dope all day friday, but since the deal collapsed feel a lot better now. Account up 78% year to date. All the wise guys looking for a pullback, I think its got another punch up coming, just too many sell in May comments floating around.

Discipline is what you do when nobodys watching. Bought YHOO after I took my whipping in MSFT last month thought I'd roll right back into MSFT and recoop my loss. It was the old out of frying pan into fire trick. The deal was troubled from yhe get-go. I decided to sell thursday after I watched Steve Ballmer ranting like Crazy Eddie, the Indians stayed away from crazy people and thats about the way I feel about it too. The single worst piece of financial advice ever given is "don't panic." Not me brother I've learned the hard way that sometimes ones best move is to run. Sold YHOO and JNPR thursday felt like a dope all day friday, but since the deal collapsed feel a lot better now. Account up 78% year to date. All the wise guys looking for a pullback, I think its got another punch up coming, just too many sell in May comments floating around.

Another Option close, another full moon. Sorry I haven't posted lately it's been a difficult market it seems that everyday some new crisis was blowing up. My newfound situation as a Bull has been emotionally difficult for me, as I always prefer the "Dark Side"- can't complain this year to date I'm up 64% (statements furnished upon request) this number also includes two rather large losses I took this month in MSFT & WM. Market looks like an inverse head & shoulder to me but took some profits friday at the close anyway just to lighten the load.

2008
June (3)
May (6)
April (1)
March (2)
February (5)
January (5)

2007
December (1)
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October (4)
September (3)