OK, a parting shot of the 15-minute RIMM chart. (The stock did over 150,000 trades today.) Lots of nice spots to get long with limited risk. People who have read
and understood the Trading for Dummies lessons should have
done very well. See you for the abbreviated session tomorrow, guys.
RIMM, 15-minute Chart
Posted at 4:11 PM, EST
Paul Farrell is right on the money: most investors are ignorant by choice.
"As I see it, investors have a de facto constitutional right to be as illiterate, as misinformed and as stupid as they choose.
And millions exercise that right every day ... Congress can't outlaw investor illiteracy ... we have a right to our
stupidity. And our fund managers will protect that right."
Posted at 3:47 PM, EST
Neither "CHARLIE" nor "DELTA" triggered today. In fact the one that was supposed to go down went up, and the one that was supposed to go up went
down. ;-) And ACAI has been a pain. Shoulda just bought RIMM at $61 and walked away. Hindsight is 20-20, as they say.
Posted at 3:14 PM, EST
Dave Barry writes about men who feel insecure about the size of their Camrys.
Posted at 3:11 PM, EST
A recommendation from the Chairman to all country music lovers out there is the great Loretta Lynn box set: Honky Tonk Girl. She's the
This chicken's done tore up her nest
And I'm ready to make a deal
And ya can't afford to turn it down
'Cause you know I've got the pill
Posted at 2:57 PM, EST
Old RIMM continues up and away... it doesn't pay to fade crazy puppies like this one.
RIMM, 15-minute Chart
Posted at 2:25 PM, EST
One of the reasons RIMM ran so hard is that about 15% of the float is held short, I believe. Short covering can get pretty crazy
at times... folks who have been holding this stock short these past many months have to be out of their minds.
Off to lunch....
Posted at 12:37 PM, EST
The Parmalat scandal -- $11 billion missing, so far -- is pretty interesting. One person was quoted as saying
"It's not a minor calculating error." My question is what's going to happen to Grant Thornton and Deloitte Touche?
Posted at 12:04 PM, EST
Nice spot short in ACAI... 20 cents of risk.
ACAI, 15-minute Chart
Posted at 11:51 AM, EST
Neither "CHARLIE" nor "DELTA" has triggered. "CHARLIE" may trigger later today, it looks likely. If I'm not around to report
on things, folks who received my email know what to do.
Posted at 10:35 AM, EST
RIMM has done over 40,000 trades so far this morning, extreme activity in this stock. If you dropped down to the ten-minute chart
to trade it this morning, there was a nice spot at 10 AM with only $1 at risk.
RIMM, 10-minute Chart
Posted at 10:25 AM, EST
Being back in America, I can't help but reflect on the issue of obesity. It's not a hard problem to understand. Let's run the numbers.
- Double Quarter Pounder + with Cheese: 760 calories, 48 grams of fat
- Super Size French Fries: 610 calories, 29 grams of fat
- Super Size Coca-Cola Classic: 410 calories, 113 grams of sugar
- M&M McFlurry: 630 calories, 23 grams of fat
When people are ingesting nearly 2500 calories and 100 grams of fat in a single "meal," it's a miracle that they remain as slim and fit
as they are.
Posted at 9:29 AM, EST
Eyes on ACAI, CERN, RIMM... among others.
Posted at 9:17 AM, EST
"CHARLIE," Daily Chart
"CHARLIE" is a LONG play. NASDAQ-listed stock in the $20-$25 range. Around 27 cents of risk (1.12%). Email me for details.
"DELTA," Daily Chart
"DELTA" is a SHORT play. NASDAQ-listed stock in the $5-$10 range. Around 20 cents of risk (2.96%). Email me for details.
If you don't know what all this "CHARLIE" and "DELTA" business is about, read this post.
Posted at 7:15 AM, EST
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