Friday, December 4, 2009
I know the big, big, big, news today is the drop in the unemployment rate to 10%. I am not trying to be a stick in the mud but if this is all they can rally the market (+130 on the Dow) on this euphoric news, then you had better watch out below.
Funny how the touts and pumpers have nothing to say about GS rolling over here and not participating. Hey, on second thought, what about every shills favourite tech/consumer/global/defensive play AAPL? No love for it either? Hmmm. Funny how no one is talking about AXP's little pullback? yesterday.
Side note, boy do I want to short some BIDU here (chart 2nd from top).
If you have not had a chance to catch Sen. Jim Bunning from Kentucky absolutely pulverize Fed Chair Zimbabwe Ben Bernanke yesterday, please take a moment to do so as it is must see TV. You can catch it here.
There are lots of little tells appearing in this market. Yes, I realize many of you are sick and tired of hearing the same old same old from me. That's completely fine. Just do me a big favor and don't complain when you don't have a chair, as the music has stopped playing and you can't get off the dance floor.
Tuesday of this week I was stopped out of BBBY at $38.42 for a loss of almost 3/4 of a pt on 1 unit short.
Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 1 unit Ultrashort Xinhua China ticker FXP @ $8.32
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97
Short 1 unit i-shares Russell 2K ticker IWM @ $61.70 stop @ $63.80
Short 1 unit Vornado ticker VNO @ $68.30 stop @ $70.71