Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Random Thoughts: Are Transportation Stocks Forecasting a Decline?


Fundamentals and psychology square off into quarter-end.


Random Thoughts
  • They threw a LOT at yesterday's tape-fundamental softness, China trading at 2009 levels (it was flat last night), overbought conditions-but you could almost hear the bulls burp at the end of the session (as they digested the supply).
  • I resisted the urge to punt my QQQ (NASDAQ:QQQ) puts into yesterday's slippage as I sensed expiration was pulling the QQQ toward $70 (pin action).
  • I also resisted the urge buy back the Facebook (NASDAQ:FB) (that I sold as a trade) as it seemingly has favorable risk-reward relative to the high-fliers (although on a P/E basis, it's still more expensive than many of said high-fliers).
  • When it doubt, sit it out, and that's what I did while maintaining my buy-stop above.
  • There is a very fine line between stubbornness and patience-it's called the bottom line. Remember to respect-but never defer to-the price action.
  • France's richest man has applied for Belgian citizenship-as a large tax increase for the wealthy approaches. While he promises to still pay French taxes-including the planned new 75% tax rate on incomes of more than €1 million-the timing is more than curious. You can never cage free will, right?
  • Take care of the minutes and the hours will take care of themselves; good luck today, and have a great weekend-you most certainly earned it!

Twitter: @todd_harrison

Follow Todd and over 30 professional traders as they share their ideas in real-time with a FREE 14 day trial to Buzz & Banter.
Position in QQQ
Featured Videos