Straight From the Trading Pits

I’m taking this post old school baby.  The RainMaker says to look for Chicago Bulls to take this series to game 7.  The best series in the first round, it’s simply unfathomable that Stern won’t take this series to the distance.  As a matter of fact, shady Stern is smelling the prospect of 3 game [...]

Fast Money Halftime update…

MAcke said people putting capital into this market now are gonna be the biggest losers. Bought 10,000 shares of FAZ at 7.80

Silver Lining

There’s not much to say about today’s market reaction. Chrysler BK looming (and GM to follow most likely), XOM big miss on earnings, etc and the market continues on its rally. The one silver lining i see in the charts is that volume is extremely meager in the last few days. There is an evident [...]

Low Expectations for 1Q Earnings

One of the key indicators for today’s open was XOM’s earnings, and despite missing analysts’ earning expectation by $100M the stock is trading up in premarket.  The DOW future, 15 minutes before the open, is now trading up over +100 points. So what does this tell us?  The Street has extremely low expectations for the [...]

FOMC…done

Finally, the announcement is over with. I hate these days. These days useto have a lot more meaning. Now, that the rates are at 0%, there’s no real excitement. Nothing we didn’t know was announced. Economy continues to contract but at a slower pace, $1.25 trillion in treasury purchases, blah blah. So the US economy [...]

FOMC meeting adjourned

what did I say this morning my pupils, listen to the wise man, market retreated from over +200 to now +170, expect more of that trend for the remainder of the day.  the 10 year treasury just went off the charts, expect more downside

Resistance

S&P is RIGHT at resistance level of 875. This is very meaningful to the market. Let’s see what Big Ben has in store for us.

Fast Money Halftime Report

Those dudes just came on and all were extremely bullish. I love it. That DEFINITELY means time to go short. All we need is for Jim Cramer to bless this market and we’re set to get the party started. Most were on the GS and MS bandwagon. Nice one. Jump on it after it’s had [...]

a chance to back up the truck…

not just yet. I predict an end of day run up in the equity markets. Load up at the end of day. Today’s action is hurting my FAZ position but i’m still feeling overy confident about it. My OIH and QLD longs helped mitigate the damage. The market seemed to not really be affected by [...]

Panic From Wall Street Bulls After 1Q GDP Data

Worse than expected GDP has sent Wall Street into a frenzy.   The street was expecting a consensus drop of 4.6% in GDP where in actuality the U.S. economy basically hit a wall, losing 6.1% of the country’s overall productions, we’re talking about missing the Street expections  by 33%.  Leading up to the GDP data, the [...]

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