Tuesday, November 16, 2010

A Couple of Questions

I have a couple of questions I need answered this morning. Has anyone noticed how the major indices Dow, (both industrials and transports), S&P 500 and the Nasdaq all took out their April highs and have now reversed back below with one exception? The Russel 2000, ticker $RUT. Keeping along this vein, has anyone noticed that the Nasdaq took out its April high via a gap? Exhaustion gap or continuation gap? Does anyone care about this?

Does anyone care that Greece not only lies about its debt but is aided in this endeavour by felon-in-chief Goldman Sachs?

Dopes anyone care Ireland's banks are bankrupt and the gov't there is having a gun put to their head by their Euro-brethren to accept a bailout from the IMF which they can then pass on to those bankrupt bankers so that armageddon can be avoided yet again? Oh yeah, martial law too, almost forgot about that.

Does anyone care that Portugal is already in the queue lined up behind Ireland.

Given the above is anyone shocked the guillotine was invented in Europe?

Does anyone care what is going on in our muni-bond market?

Does anyone trust or believe anything any more, breakouts, breakdowns, gaps, volume, etc.?

Housekeeping notes:

I was stopped out of my final unit of TLT yesterday at @ $94.94 for a loss of about 1.5 pts.

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".

Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $60.30
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $60.50
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $42.45
Long 1 unit Ultrashort Real Estate ticker SRS @ $49.10
Long 2 units Direxion Tech 3X Bear ticker TYP @ $52.60
Long 1 unit U.S. Dollar Bull ticker UUP @ $22.56 stop @ $21.44
Long 1 unit Powershares Gold Dbl Short ticker DZZ @ $8.38 stop @ $7.84
Long 1 unit Powershares Gold Dbl Short ticker DZZ @ $8.61 stop @ $8.04

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