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"

Wednesday, April 15, 2009

this market is going to make everybody crazy

4 comments:

Tony said...

Fell asleep watching the White Sox game and woke up to see the market up triple digits!

WTF.

I sold FITB too soon. Guy Adami earlier today was going on about how the regionals have to compete with the big i-banks implying the little guys will lose. Now he's saying how the yield curve is in the sweet spot for regionals. Geesh.

I think this is still sentiment and liquidity driven. Fund managers obviously are getting money that they have to put to work. When do they buy? In the afternoon.

Eric said...

Mutual funds have a program buy that happens at the end of the day. It's completely computer driven

well, everything is sentiment driven.

that set up as a perfect bear trap beyond the trend line.

T-Lo may be right... she has had a cold streak... but may be back on top of it... For the most part... you just can't top tick...

Then... from the sounds of it, she is sketchy on if we break the wedge.... which has me creeped out.

I said the Y-word... so I'm going to keep taking it easy...

Seriously I keep breaking out in a cold sweat, when I look at the market.

But that did not feel like a top. and I think it needs another leg down..
but it's possible the traders are more Brazon at this point and didn't want to wait for the second leg...

There also was no fucking way I could stand Tax day "Tea party" talk all day.

http://wonkroom.thinkprogress.org/2009/04/15/armey-financial-giants/

Using my model... a buy on friday/mondy ... into a top at the end of the month. (but... my model has been messy the past month and a half.

Eric said...

so if we get this other 5% out of the market... we are smart to have pulled out, and we will look to places to go short. T-Lo had SRS on the bottom of the list last night.

But overall what we can do is start thinking about short positions.

And get some sleep after 2 months.

Eric said...

fuck... look at the regionals run today..

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