Alrighty, it wasn't such a terrible fill in the end. Now to recap: today we have covered amusing vignettes from boom-time idiots,
missing trades by yacking (SEPR also would have been kind of lame in the end), triangles, sadistic Japanese quasi-porn, bull flags,
the FOMC statement, and the ancient art of leaving money on the table while still capturing a healthy chunk of change. See you tomorrow!
Posted at 9:04 PM, GMT
A more colorful view of CELL.
Posted at 8:48 PM, GMT
If you're wondering what the heck chart I'm posting, just roll your cursor over the image and it will give you the symbol and
Posted at 8:45 PM, GMT
Oh great, *now* it collapses, lol. Let go of the bone, bad dog!
Posted at 8:39 PM, GMT
OK, I got 17.08 ... probably ended up leaving some money on the table (every penny was worth $20) but that position wasn't the greatest and I just
took the money and ran.
Posted at 8:36 PM, GMT
Gonna try to lowball out of this CELL, see if I get filled.
Posted at 8:31 PM, GMT
Hmmm, I see the Fed kept the old "considerable period" in the Statement.
"The Committee perceives that the upside and downside risks to the attainment of sustainable growth for the next few quarters are
roughly equal. The probability of an unwelcome fall in inflation has diminished in recent months and now appears almost equal
to that of a rise in inflation. However, with inflation quite low and resource use slack, the Committee believes that policy
accommodation can be maintained for a considerable period. "
Posted at 8:03 PM, GMT
Yesterday CMTL drew that pretty bear flag, and today EGHT drew a perfect bull flag. Recognizing bull and bear flags is
one of the most fundamental things you can learn... executing off of them is the trick that every trader going
back to Schabacker & Co. knew how to do.
Posted at 7:56 PM, GMT
I was filled on that 17.39 order in CELL and the stop is of course at 17.66.
Posted at 7:44 PM, GMT
First I have to clarify that 'Freezer' was made by Ishii Takashi, not his evil twin Takashi Ishii. Man,
these Japanese movies are so twisted, just astoundingly sick... not for the squeamish or sensitive, and of course movies
about sexual violence make me doubly queasy because I know a lot about 20th century Japanese history,
particularly the Japanese army's exploits throughout Asia.
Posted at 7:41 PM, GMT
OK, I'm going to take off... I'm at 17.39 limit stop below CELL if it reverses. Now I'm going to watch a Takashi Ishii movie titled
'Freezer' or 'Freeze Me.' I'll report back about it late in the afternoon.
Posted at 4:59 PM, GMT
Old NGEN continues to coil towards the apex of that lovely triangle I wasted my time on yesterday.
Posted at 4:16 PM, GMT
Since I blew it with SEPR, I'm keeping an eye on CELL... as Dylan Thomas wrote in his famous poem, The Conversation with a Day Trader,
there are 'the quick and the dead.'
Posted at 4:02 PM, GMT
Sometimes they don't wait for you to act off of the 30 min. chart.
Posted at 3:30 PM, GMT
Darn, it broke down before I could get on, scratch one more up in the rather-talk-than-trade column.
Posted at 3:27 PM, GMT
SEPR making me hot and bothered, could be a nice tight play.
Posted at 3:24 PM, GMT
Watching CELL (another great ticker symbol) drop... tone is kind of negative, bonds up after yesterday's relentless selling.
Posted at 3:02 PM, GMT
Eyes on these guys among others: CMTL, CORV, PROX, SEPR, VCLK.
Posted at 2:11 PM, GMT
Briefing.com has a kind of interesting section of their site where they share Trading and Investing Strategies from their readers.
I found the "Experiences" and "Mishaps" sections the most useful. The boom-time stories are especially entertaining.
"... called it quits at 4.7 million [in profits] ... general method was all or nothing with margin, every trade, multiple browsers open to facilitate trading and info gathering.
No T&A, just gut instinct about mood of stocks and market. ... Pretty much all Internet stocks. Traded from home computer using 56k line."
"The stock price dropped to 7 cents ... The 238 shares I paid $9500 for was worth about $17. Not even enough to pay for the
trade when I sold it."
The story of "King
Midas" gets its own page. Where's the King now? ;-)
Posted at 1:57 PM, GMT
Natural Gas futures have been moving up strongly. There have been
lots of good opportunities to make money in the NG -- just apply what you've learned in
the Dummies lessons. The Trading for Dummies series
is the single best resource on the Internet for learning how to trade (he says humbly)... and it's free of course.
Natural Gas futures (NG), 30-minute Chart
Posted at 10:16 AM, GMT
A neat composite satellite image of the earth at night.
Posted at 9:38 AM, GMT
Chet Currier looks on the bright side:
"Bear funds now show a five-year annualized decline of 6.2 percent for a period that includes the worst sustained stock-price decline
in a generation ... Through two decades from the end of 1980 through the end of 2000... the price of gold declined 3.8 percent a year."
Posted at 9:17 AM, GMT
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