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Make It or Break It for the Banks
Once again, another boring tape. Hi-Fi traders are buying and selling bank stocks trading in the narrowest or ranges. Of particular interest is the CRE-infested regional bank index, wound up tighter than the wet skin on a bongo drum. Which way will it break?
The anticipation of watching which way this thing breaks equals the
drama surrounding Amanda Drury, and wondering when one of those buttons
on her blouse is going to suddendly breaks loose.
Could not find much else to comment on today, other than a few stocks getting gunned to new highs. These fund managers are now "speed dating" stocks these days, jumping on whatever is moving for the year end print. As soon as it stops going up, they jump off.
Today, they were humping up Starbucks:
Banks were dragging all day. Here in Los Angeles, some of the smaller regional banks may be getting ready to fold. Of course, these carcasses will be snapped up by Wells Fargo, Bank of America, Union Bank, etc. with the usual front-running and subsequent 5% gap up the next day.
Here are the Los Angeles Death Pool candidates:
First Regional Bank:
Preferred Bank:
Ah, yes the good old days. This stock was at $40/share 3 years ago.
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Ticker symbol SNSS +%205.
No shortage of action, in the regulars at least,
AMZN pops again
UNG is bid to avoid the chill
Oil in the 60s
....
AMZN tracks down to 114, UNG to 17...
Hold off on AMZN, need to place my shorts in the 140sm, with luck maybe tomorrow.
UNG should provide a good ride into Spring, at least as much as backwardation is concerned.
Ridiculous ramp up:
http://www.google.com/finance?q=NYSE:ELP,NYSE:UUP
ELP (ADR) is an electricity producer (hydro) with captive market. Price movement should be inverse USD/BRL correlation.
http://www.forexpros.com/currencies/usd-brl-chart
USD/BRL up and ELP up big. Damned be logic and math in the age of HOPE. Don't worry be happy.
Repeated paragraph around Amanda. Its OK though. Its OK though.
On bank down days higher volume. BAC volume interesting.
this 3:25 rolling out of bed on thursday trade is so annoying. look at last thursday. i feel stupid..., which perhaps may be the point.
A boring top?
Very interesting, many market momentum indicators and financials topped weeks ago. Gold and oil have serious corrections in progress. Everybody agrees that you "have to buy" this market here or miss out, "just wait until all that sideline money comes in".
The dollar and the vix are looking like a breakout is near.... Its all Ho hum, until its not.
Exactly, not to forget bad breadth and Asian
EQ Markets rolling over as long ago as August
(SHI).
KRE tracks up to 34.5, while FRGB down to 0,
PFBC down to 1. ELP up to 29.5.
Saynonara most other indices except seasonal RUT...
Robot trader.. you never dissappoint.
SBUX tracks down to 15, featured as a Beans and
Lumps market neutral pair with CLD above 12.53...
Interesting continued action in the worthless newspapers (GCI, LEE) and health care stocks (which are suddenly good for 5% daily moves).
RUT was weak today along with other interest rate sensitive types, builders,REITS.,, Volume pathetic.
Retail sales plus whatever blows up around the world this weekend might make next week one to remember.
You did play AMZN right ?
Today was AMZN day.
What will YOU be gunning tomorrow ?
Was'nt there something wrong with UNG as far as contract limitation and the fund not issuing anymore shares?whatever happened in that department?
This is way off topic, do any of you remember those old 90's Chevy truck commercials? The ones with Bob Seger 'Like a Rock'?
http://www.youtube.com/watch?v=IocCC1-jeTY
The lyrics need re-tooled, just like the chevy plants.
"Like a rock, to the bottom of the sea"
"Like a rock, forced into bankruptcy"
"Oh-ooo! Like a rock!"
I don't know why I thought about that, but it made me laugh.
humping up Starbucks too funny
Looks like da boys are pumpin' anything with Chinese in tha name. CAEI CMED to name a few for today. Beware of the double leg takedown.
http://www.mmaweekly.com/blog/uploaded_images/0470390719-799646.jpg
How about a Braless Michelle Cabrerra to get us through this boring market?
http://www.nahj.org/events/2008/Noche/MichelleWithMaggie.jpg
Schwing!
http://www.youtube.com/watch?v=-6CyOiceZ60
Since when did Geddy Lee grow a rack?
Chinese solars got whacked today:
http://finance.yahoo.com/q/cq?d=v1&s=csiq,jaso,ldk,sol,solf,stp,tsl,yge
Right before Copenhagen, hedgies are back at it, manipulating these stocks to death. My strategy has not changed: accumulate more every time they dip.
AMZN will collapse in 2010 like RIMM did in 2009
yes. apple tablet in march. the premium getting priced into amazon right now has everything to do with kindle and it will be completely gutted by a) nook, and more importantly, b) tablet. i dont care if the tablet is 1000 bucks, though i'm betting it'll be 799. apple will run circles around amazon, all day. how many billions do they have to net to turn 100 million profit. christ, my neighborhood baker makes better margins
BKX just rolling over.
Banks Continue to Lead, but not to the Upside. If the “health” of our country and the world rests on the banks, this chart shows a very dismal sign of things to come because the banks are clearly lagging the market. I have identified a potential bearish wedge pattern in a chart posted here, if you want to take a look: http://www.graspthemarket.com/elliottwave/20091206a.php. These stocks are supposed to lead us to the Promised Land (I couldn’t resist on the pun--GS). However, if the bearish wedge analysis plays out, then the XLF will decline sharply in the coming week or very soon after. That also coincides with my labeling of waves: waves 1 and 2 are complete, and wave 3 is waiting in the wings.
anyone have an intelligent guess on USD/BRL for near term?
anyone have an intelligent guess on USD/BRL for near term