Sold 250 ERX @ 37.50, still got 250 left.
Let see how high we can get..

Come'on Dow.. attempt another 10500 will ya?

Closing Update 5:08am

Dow 10405.83 +68.78 +0.67%
Nasdaq 2190.86 +7.13 +0.33%
S&P 500 1102.35 +6.40 +0.58%

Not a rally today, just a slight push up.







This post has been edited by danmooncake: Dec 11 2009, 07:13 AM

Sold all my ERX 37.80.. Oil price has weaken (below $70).

Waiting for down cycle and rebuy at lower price.
The bulls are getting tired.

Closing update (5:10am)

Dow 10471.50 +65.67 +0.63%
Nasdaq 2190.31 -0.55 -0.03%
S&P 500 1106.41 +4.06 +0.37%

We closed up, but the bullish strength certainly has weaken 'coz we're close to the top again.
I've closed out all my 3x positions. All cash for the weekend. But, still holding non-3x longs like TCK, C, etc..

You all have a good weekend!

This post has been edited by danmooncake: Dec 12 2009, 05:13 AM

Look at that.. Dubai is non-issue now and Citigroup to repay Tarp.
Looks like we got one more push up north tonight.

Dow bouncing off 10500 ceiling again..

Will it be able to punch thru this time?

This post has been edited by danmooncake: Dec 14 2009, 11:31 PM

Dow 10505, S&P 1113

Sold 750 TCK 36.35, still have 250 left.

Those holding C may want to be patient and play some other stocks while C finds its ground.

I missed run on TNA this morning.

I'm holding till the Fat Lady sings.

Closing update

10501.05 +29.55 +0.28%
Nasdaq 2212.10 +21.79 +0.99%
S&P 500 1114.11 +7.70 +0.70%

Look at that! We crossed over and closed above 10500..
Man, this bull market got conviction.

The question now is.. will we see 11000 first or 10000 first?

Not much trading today since I'm letting some of remaining longs ride up (eg. TCK).
Should have hold on more.. but heck, profits are profits.

C is a dismay today due to Tarp repayment and fear of dilution but I think we have to let it it settle down.
Too many panic sellers today and it may last a couple of trading sessions before C find its footing.

This post has been edited by danmooncake: Dec 15 2009, 05:20 AM

Seems like WFC is following C foot steps. Repaying TARP, getting the govt out of the way as quickly as possible.
Oh boy, they can't wait, can they?

--From AP wire--
Stock futures are extending their decline after the government says wholesale inflation rose more than expected in November, led by surge in energy costs.

The increase will likely be of topic among Federal Reserve policymakers who begin a two-day meeting on interest rates Tuesday. The Fed is expected to keep rates unchanged.

Stocks have fallen overseas as the dollar rose against the euro amid continuing worries about Greece's debts and the financial health of Austria's banks.

Dow Jones industrial average futures are down 52, or 0.5 percent, at 10,446. Standard & Poor's 500 index futures are down 6.10, or 0.6 percent, at 1,102.50, while Nasdaq 100 index futures are down 9.75, or 0.5 percent, at 1,798.00
--

Yeah.. already expected some pullback here since we're the top anyway. Let's go south.

For those who watch Mad Money, J.Cramer pumps C on his show yesterday.
http://www.cnbc.com/id/34419773/site/14081545



This post has been edited by danmooncake: Dec 15 2009, 10:18 PM

Dow is UP??

I almost got LVS last Friday.. queue to 14.80.. just a notch too low. Didn't pay too much attention on it.
I was busy watching ERX, TNA and TCK.

Many people have asked me via PM. Frankly, I'm not too worry about C now.
Eventho I know their balance sheet sucks at the moment. I'm long on C.
Currently holding only 750 shares avg 4.10. I'll have to see how it plays out after
they've issued the new shares. I plan to average down if they drop to low $3.

Meanwhile, for those playing long, don't spend too much of your portfolio percentage on Financials.
Financials led us back to recovery but I believe it may lead the way down if we have a second dip next year.

For other LONGs, I'm into Technology (CSCO,AAPL), Copper/Gold Metals Mining (TCK/FCX),
Food/Restaurant (MCD), Emerging Markets (EWT/EWZ/FXI), Shipping (DSX) and Industrials (GE) and
broad based ETFs like VTI and VEU.

I'm beginning to look at Airlines, perhaps even Automobiles Manufacturers, which are
the worst of breeds (meaning badly hammered) during downturn.

For short-term trades:
I'm playing ERX/TNA for 3x bulls, ERY/TZA for 3x bears. I'm not holding any
bears or shorts for now. I may jump back soon, watching VIX for signs.
Another short term swing plays are US Dollar versus Yen: UUP,YCS,YCL
Most likely, I will play some gambling stocks like LVS/MGM for swing trades.

Good luck to all.

This post has been edited by danmooncake: Dec 16 2009, 12:23 AM

Closing update:
Dow 10452.000 -49.05 -0.47%
Nasdaq 2212.10 -11.05 -0.50%
S&P 500 1107.93 -6.18 -0.55%

The market is looking for a bounce off the top and we got it.
The excuse this time is "Spike in wholesale inflation" - this also sent the policymakers to mull
on interest rates. As usual, we got a spike in Dollar index on this "Fear of hikes".

Bought back some ERX for trades. I see Oil bouncing back from the 6-7 sessions of being oversold.

C saw its low today at 3.51 and we bounced off. I guess we got some level of support here.
If you're hurting at C, perhaps just go play at some other stocks for now.
But, here's a piece on C that some of you may find it interesting:
http://www.reuters.com/article/idCNN1519003720091215?rpc=44

This post has been edited by danmooncake: Dec 16 2009, 07:08 AM

The longer term chart and trend for both Dow and S&P still bullish.

Some of the longer term play with broad coverage of various sector
are still good to invest and buy at this level eg. materials, industrials,
shipping and energy.

This post has been edited by danmooncake: Dec 16 2009, 10:57 AM

What do you mean? Break down BELOW 3.50?
It already did!

Energy looks good now. Riding on ERX since yesterday. We'll see how far it can go.

Also, watching INTC and AMD today.. INTC got slapped by FTC for "unfair" practice.

This post has been edited by danmooncake: Dec 16 2009, 10:05 PM

C is expected to price their secondary offering between $3.30 - $3.50.
I'm holding off trading any financials for now but I am watching it.

But, ready to buy the dip.

Not yet.. C is not Titanic yet unless it drops below $3.
IMO, between $3.35 and $3.50 is a gift.
I'm ready to pull the trigger.

I'm still watching Oil and USD tonight.
The bulls for Dow and S&P are getting tired but Oil rally keeping it up.

Dow needs to reach 10500 again and attempt one more time to break thru.

Update: 4:30am
Fed keeps interest rate low.. as usual, we'll have sell the news going on.
Dow in -18 now.

Let's buy this dip!

Managed to grab more ERX @ 38.75

Closing update
Dow 10441.12 -10.88 -0.10%
Nasdaq 2206.91 +5.86 +0.27%
S&P 500 1107.93 +1.25 +0.11%

We got a bit of sell off during the closing after Fed news. But, overall, stocks did move higher!
Oil has confirmation on bullish trend now (close above $72.50).

This post has been edited by danmooncake: Dec 17 2009, 06:22 AM

There are tremendous number of shorts for C due to this secondary offering or people are dumping
it ahead of the offering because they're angry. Now that the brokerage house have grab them all, the govt is not selling their shares, I wonder if this would trigger a sudden short squeeze the next few days? If it does, it
would be funny to watch, suddenly shorts have to cover, trigger massive buy, C would rise back to $5.

This post has been edited by danmooncake: Dec 17 2009, 11:05 AM

Dollar now on v_iagra!

C - getting slapped left and right.
I'll be buying some more C since it has down more than 20%, $3 is very attractive.

Bernanke is getting his final grade today whether he pass or fail by US Congress.
If US Congress fails him, we'll see minus 3 digits on the Dow. If he confirms, I'm sure we'll get a bounce up.

This post has been edited by danmooncake: Dec 17 2009, 10:30 PM

I'm watching the votes for Bernanke now. It seems that the No votes got higher, that's why.
Like I said, if Bernanke gets voted down, this market will not like it.

Democrats wants him in
Republicans wants him out

I want him in.. he's good for the market.