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Random Thoughts

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...great traders know how to take a loss.

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  • The other side of the "erosion of the middle class" trade.

  • I mentioned earlier that my stochastics are "middle of the road." That's not a blanket statement--the stochastics in the BKX are pretty toppy, which fits nicely with the Citigroup resistance at $48.

  • If you haven't read Jeff Saut's weekly missive, you're missing some excellent insight. He remains, in my view, as good as it gets.

  • Google is toying with it's 200-day again ($347ish). Keep that massive gap (below) on your radar as well, as a trade through $332 "works" to $300ish.

  • Keep an eye on that triple top in Pan American Silver ($25.50ish). Ditto Silver Standard (SSRI) as it tickles $19.

  • Does this mean I should feel guilty for letting MVHQ watch March Madness?

  • Note big pharma as the DRG tickles 335 and respect the acne in the context of extended stochastics.

  • My first job real job was flipping bagels in Great Neck, NY. I was 13 years old and worked with Rob Camilletti of Cher fame.

  • Also eye Citigroup as it gives up the early nub with a wary eye cast towards $48.

  • If you miss the Grateful Dead, don't miss Ratdog. I'll be there at the Beacon, happy as a clam.

  • Billionaire investor Warren Buffett on Monday reiterated his long-standing prediction that the U.S. dollar would weaken over time, Reuters reported. "I think over time the dollar is going to weaken. I have no idea whether it will be this year or five years from now," he told television network CNBC.

  • Good traders know how to make money but great traders know how to take a loss. Setting stops is the first step towards great trading.

  • NYSE breadth is steadily slipping (3:2 negative) as the post-expiration hangover starts to subside.

  • I've been "trading around" energy, metals and pharma on the long side while dabblin' with the financials and tech (ex-SunMicro) on the short side.

  • I'm finding it increasingly difficult to digest the one-sided rhetoric championing the economic expansion (without mentioning the attendant cost). Or maybe I'm just cranky due to this naggin' chest cold?

  • I continue to think that this Ambien situation is gonna wake up and bite Sanofi Aventis in the arse.


    R.P.
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