Spent the last couple of hours watching the commentary done by Jennifer Westfeldt and
Heather Juergensen on the Kissing Jessica Stein DVD. They are both so smart and lovely and talented.
Jennifer is a year younger than me, can't find much information on Heather, but she's also an X'er.
I'm hoping PDLI gets through the morning high into the close... you can see on the afternoon dip (assuming that you have
a chart in front of you) that I was
almost stopped out... in the old days I never tightened my stop but I'm re-training myself to reduce
my risk when I can. PDLI will be my Dummies lesson tomorrow for those who aren't on real-time.
Posted at 8:26 PM, GMT
OK, that's a wrap... cancelled last buy stop in RMBS, protective stop in PDLI at 16.27 till day's end, have a nice afternoon.
Posted at 5:26 PM, GMT
Stephen Roach reminds us in today's commentary that 'there's still good reason to be cautious.' (I love this guy's language; there
are some new phrases -- he had a long weekend to think them up -- among the Recurring Roachisms.)
"fierce structural headwinds ... macro stabilization policy arsenal ... policy gambit ... Herculean stimulus campaign ...
lingering structural imbalances ... massive US current-account deficit ... a saving-short US economy ... the culture of debt ...
debt service remains uncomfortably high ... open-ended appetite for leverage ... America's dependence on wealth-based, debt-intensive support to aggregate demand ...
[and my personal favorite:] the ultimate post-bubble payback."
And now, live from Madison Square Garden, it's THE ULTIMATE POST-BUBBLE PAYBACK!
Posted at 5:18 PM, GMT
Trapped rats in EGHT fleeing the sinking ship (darn glad I didn't get stopped in at 6.49)... RMBS has no pace but I'll
still be looking long above this tiny noon bar (31.14 potential entry)... and PDLI stop at 16.27 where it will stay until the close.
Posted at 4:59 PM, GMT
31.17 is the potential entry on RMBS... 6.49 on EGHT... PDLI protective stop can be cranked up.
Posted at 4:31 PM, GMT
Treasury Notes are getting wrecked this morning... you can see the nice short entry that anyone watching it would have taken.
Posted at 4:28 PM, GMT
EGHT about to make a move, RMBS also setting up long.
Posted at 4:15 PM, GMT
Down bars in RMBS EGHT... PDLI moving nicely higher.
Posted at 4:08 PM, GMT
Sentiment is positive... looking at longs... nice narrow range bar in RMBS... EGHT also still unusually active.
Posted at 3:31 PM, GMT
"I was brought up in a typical sort of upper-middle class British family... church twice a year, if you go more often than
that you're considered a little déclassé."
-- David Aikman, author of the new book Jesus in Beijing,
in an interview on C-SPAN.
Posted at 2:12 PM, GMT
On my watchlist so far: ARIA EGHT INAP PDLI RMBS VOCL ZTEL
Posted at 1:24 PM, GMT
There was an article in Barron's this week about a new put/call ratio
that the ISE has created. It's interesting because they are trying to isolate the dumb money options players to get a better read on
popular sentiment, which is something I have always tried to do by watching the equity-only put call ratio.
"The ISEE only measures customer transactions on ISE. Transactions made by market makers and firms are not included in ISEE because
they are not considered representative of market sentiment due to the often specialized nature of those transactions."
At first glance it doesn't look much different from the CBOE equity-only put call ratio, but I haven't yet crunched the numbers.
I'll certainly keep an eye on it and am happy to have another indicator of public sentiment.
S&P 500 Index with ISE Put Call Ratio, Weekly Chart
Posted at 9:04 AM, GMT
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