Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Thursday, January 22, 2009

I just hate this

it all just feels like playing the lotto.

10 comments:

Tony said...

Chop chop chop... hard to get a handle.

But Good Luck: your buddy Carter Worth coming up after the break to help sort out the market!

Eric said...

It's just exhausting....

carter did say range bound 9k 8k sort of.

but... there is that asecnding setup..

and yet... I just feel like we need a washout..

Eric said...

Good lord...

I'm Beat!!!

Cant figure out if I want to own them or stay away...

and the technical picture changes so fast... and is a brain tumer to try and anticipate.

I was saying weeks ago that finaly we had the volitility to the point the market was tradable.... and here we are.. it's a nightmare again.

Tony said...

Same here. I was even at 2:30 and almost quit, but I toughed it out and made little on RIMM long.

Unfortunately I went short AAPL before the close to try to fade some of that gain... but with GOOG beating the Q's should be up.

Gonna go walk the dog and clear my head.

Tony said...

Almost picked up some DRYS long before the close, but thought better of it.

Holding almost all cash otherwise.

Eric said...

Damn... let me know what to think..

I'm going to do the same thing... No dog hough.

sentiment seems to have changed.

But....

regionals ... the volume on weekly shows wash out.....

but the daily's and even WFC show no one day washout.

and FITB...and a few others... just want to go to zero.

which sets up for another of those "Weekends"...

Like I said, without C going to Zero... they won't act.

but.. bonds are selling off... you would think.

I also can't figure out where we are on if the risk at this point is worth the reward....

Though I'm killing it day trading.

but I hate to day trade

Eric said...

I've decided it's up to you to tell me where we are going...

both market and banks

Tony said...

Here's my assessment of the banks and other sectors:

Tell me your thoughts... am i way off base (remember my right-brain is damaged.)

http://kalamazoopost.blogspot.com/2009/01/banks-dont-bank-on-em-for-long-haul.html

Eric said...

at best gold has a spike high as we sell off....

if we sell off...

2 of 2 market technicians said "Market is fine here" carter and gordon...

bad omen...

T-lo is cautious, and Brian has the back of his hair standing up.

I think we will see WFC at 12 or 10.

None of this is good...

Let me just say that besides mojo....

my left brain says this is a higher low.... I kid you not.

This market is full of hate... I keep having some brilliant Knife catches... and should just be able to smoke Cigars, and count my money.... and it's not that easy..

No matter how brilliant I am..

The hubris there just kills me..

I liked your spot of DRYS, that seems to be setting up for an interesting trade.

You want good stuff... RIG broke it's downtrend, and would be worth a trade if it doesn't break...

but it seems like it's going to break...

Tony said...

I updated my Sector watch with some Stockcharts:

http://kalamazoopost.blogspot.com/2009/01/sectors-that-will-lead-recovery.html

New Economic Indicators and Releases

What does Blue Horse shoe love?- Blog search of "BHL"

cnbc