Sold all short-term long options for this rally, and got my SPY short limit order filled. The reason I did this is because the VIX was/is positive as the market is up fairly nicely. To me this means a drop is coming.
What does Visa have in common with AT&T Wireless?
Anyone investing in 2000 knows exactly what I mean, or I should hope so.
Visa is a great company with a huge industry wind on its back, and with the performance of MasterCard, the Visa IPO will be grossly oversubscribed. The stock will become over valued the second it sees public trading, and it will signal the end to this bull market, just like AT&T Wireless did… so that is what I think.
A trade looks interesting here, but only for a trade. The global outlook is not that great. There are interventions galore for a reason… things are not going well. The bullish arguement is that China is growing strongly, and they are, but they have been growing at a +10% clip throughout the last recession. There are specific aspects of the global growth story that is still working, software for one, but not everything will work. There is a reason there are ’sell’ recommendations with the brokers.
If the talking heads of Fast Money are correct, and we get a rally w/the financials and brokers, then it will because of sympathy with the upward market move we get (via a renewed false sense of economic health).
If a financial rally via sympathy is to be had, WB at current levels seems interesting.
I like WB because because if the rally does not happen, a nice yield is there at current levels. (If 42-44 is seen, take the money and run 
. Think of it this way, a years worth of dividend was made in a few days.)
Started with a very small position, as I still think the markets drifts upward, but the VIX made me do it.
It is sitting on support, and that is what made me take on the initial position. BUT, various charts do not support a market decline here, infact the Vix has negativity in it, suggesting a break from its current trend or a stay around current levels for a few days. The other charts support a continued drift upward, probably through out next week.
As per the SP500, a doubling up should occur around 1500 (toward 1520), then 1540.
The Fed will be issuing more of their $20 billion set auctions in early and mid/late Jan. This potentially can add fuel to the market, but it will be temporary.
(Shorting via the 154 March SPY Put Options)
Had to do it. Cramer’s pump gave me about 17% on an entity whose cashflow is not yet fully known. The full extent to these assets they are buying should be revealed throught next year.
CIM is not a fast growing company, it is a fund hopefully buying cheap assets. I’ll re-enter when it pulls back.
No drama, no bullshit… it is what it is and you move on.
PS… if you listened to my GOOG call, sell your options now. It could go to the downward resistance trend line, but why take the chance. Money is money… take it, i did.
Why have there been no news headlines through out this whole credit/subprime mess regarding Bear Stearns titled… “Bad News Bears”
If I had stuff to say about BSC, that would be my title
GOOG looks interesting here for a pop. Oversold, and with a market that appears to want to drift upward for the time being. (Also, the Oracle results are going to help out tech today.)
NYX Call options are interesting. Jan 08 90 and 95 have seen a big spike, as well as the March 08 80 and 85.
Thought it was interesting, as it is an unusual spike in volume.
Nordstrom was brought to my attention last night, and have to say the chart looks interesting.
I like the way it is oversold via the stoch, and on the relative support line upward. The reason the CCI was included is because I feel as if it represents a relative bullish undertone (at least toward the end of the year) supporting what I see via the RTH (retail index) sitting on support and making a short-term push upward.
JWN may very well see 39 or the 62SMA over the next few weeks, this of course assumes no fundamentally negative news about JWN or closely related retail comes out in the mean time.
