Watching $SPX 1200 and Dow 11500 resistance area. If we can take it out, then the market is going
show their big middle finger to S&P for their downgrade last Friday.

Take a look at $30 Aug calls
http://finance.yahoo.com/q?s=MMI110820C00030000

UP 15,900% Now that HOLY MOLY!!!


GOOG investors aren't happy about them buying up MMI. $12.5 bln out the door.


In the coming weeks, let's watch MSFT. They got the cash to gobble up either RIMM or NOK.
Both RIMM and NOK may be speculative buy at this time, but I wouldn't hold MSFT shares at this time.



This post has been edited by danmooncake: Aug 16 2011, 06:19 AM

Prophet - you are correct. GLD is liquid wheres physical GOLD is not.
But you can keep physical Gold for a long time as long you got a place to put 'em.

I'm hoping for Gold price to drop a bit more.. hopefully to $160 level.. then, I may add more.

Tonight, Europe fears popping up again. Futures down to same level as yesterday.
Hopefully, this is just a short pause here.

Today closing:
Dow 11405.93 -76.97 -0.67%
Nasdaq 2523.45 -31.75 -1.24%
S&P500 1192.76 -11.73 -0.97%

I don't like this close.. just a bit tad too bearish. Too close for comfort here.
I'm going to close out my long position if the next cycle can't break above 1200 here.
Could land in danger zone again or a little more retracement.

This post has been edited by danmooncake: Aug 17 2011, 09:47 AM

Not at this level..stay long or pull money to stay at sidelines for more opportunity.

US market moving up.. inflation higher (Core PPI).

Oil, copper, commodities,.. going up.

DELL - major disappointment in earnings and outlook. People buying smartphones and iPADs but not new computers or laptops. Clear sign that the iPAD (and Tablets) are taking over.

Closing update
Dow 11410.21 +4.28 +0.04%
Nasdaq 2511.48 -11.97 -0.47%
S&P500 1193.89 +1.13 +0.09%

We still got plenty of supply at SP 1200 and Dow 11500 level. That's the
same spot when SP500 downgraded US.

We can all see US indices inched higher than yesterday.. but sold off almost immediately with
thin volume. They want their money back here.

While US may have better macro data, fears of further Europe
deterioration comes in again after France and Germany may decide on what
standard it should be for the Euro nation. Perhaps they really need to
kick out those PIIGS countries.

Be nimble here or ligthen up.. because of overhang supply. Any more bad
news in US itself could cause a leg down back to SP 1150-1170 level.

I don't like the close today. Get some dry gun powder ready and if you need buy at cheaper price.

Anyone playing TUDO here? New IPO for chinese pirate movie sites..

Short is the name of the game here if they allow this.. but I doubt it since this is new and no options available yet.

Whoa... Euro stinking up the whole market again..

Riding my longs shares here down with some covered calls and puts protection.
Guns and bullets loaded here. Not ready to fire yet.

Going to see if we can dip to SPX 1150-1160 area for some bargain buy.

Wow.. intense selling pressure.

Watching this neckline here: 1140. If break, we'll go to 1120..
I add more puts if we drop below 1139 (good place to put stop here if you're trading as well).

GLD-> Dang... this balloon is getting bigger.

I think going to be more downside for the general market.
The dam showing cracks at 1140 support level.

I thought that passage was familiar.. it was BS political commentary written by Rep. Scott Garrett published by IBD.
He's knows nothing about Dodd-Frank implementation. The US banks already got around to it. I work in the call center that process US credit requests, already know that the US banks today are flushed with cash and pretty liquid. It has nothing with small businesses not able to get loan. It just that the demand been mediocre..

The political bickering in Washington got to stop. Their divided Congress is what causing this issue. Lack of confidence in the financial market. Lack of business incentives to grow. It doesn't matter who got control of the govt, either it has to be the Republicans or Democrats, both cannot be in the same kitchen here. Currently, either Obama got to kick the Republicans out of the house that's causing this rift or he has yield and stop running for 2nd term and gave the control back. That's what the market is looking for.

A lot of US businesses are saying that it is now easier to do business in Communist China than in US.

Yes.. I'm looking for support at 1100-1120 area, then I start closing some of my puts position and load up on some longs.

LVS - long since 38, sold covered calls at 44.. will let it expired today.
AAPL - bought some Sept puts protection at 380. Will add another small batch of commons if we dive to $350. Not sure when close out puts yet until I can see some bottoming here. If AAPL drops below $350, if revisit $325 again, I load up big.

Lots of fear today because of fear of lack of "growth" problem in the G7 economies. Suddenly, they feel like Japan (stagnation). Financial media is playing into this. What they don't know.. businesses activities are picking up in August - hopefully it will be reported favorably in Sept.

This post has been edited by danmooncake: Aug 19 2011, 08:48 PM

Good luck with that.. even if HPQ now wants to do enterprise software services, they're probably years behind.

HPQ stock price been a P.O.S since last year. Bought it last year at $40.. dump $43. Made a meager few hundreds.
very poor performance despite slightly better earnings. Then, Q4, Q1, and Q3 came.. it becoming worst and worst after the new CEO took over.

Stay away from HPQ for now until they got a good results. On the mobile side, why would anymore want to buy that HP tablet (WebOS) made from the old Palm days anyway? Nowadays, it is Android or iOS tablets. Even MSFT can't compete.

Now, it is either AAPL or GOOG that rules the tech giant space.

GOOG - realized that they have to acquire hardware maker like MMI to have a complete vertical market. Made no money from Google software except for ads. Will have to see what GOOG plan is. It better be good.

AAPL - (thank goodness for S.Jobs visionary) continues to pummel ahead with new products. iPhone5 (to be released in Oct) and next iPAD3 (going to the factories now, speculate to be available next Feb/March 2012).

Buy the dip, sell the rip.

By Friday, before the news, then sell to take profits.

This post has been edited by danmooncake: Aug 22 2011, 09:04 PM

Dow 10854.65 +37 +0.34%
Nasdaq 2345.38 +3.54 +0.15%
S&P500 1123.82 +0.29 +0.03%

Added some puts protection at open to as they've tried to sell into this rally.
Took some off at closing to lock in a little bit of profits.

Hoping to see a double bottom at 1100 here.. maybe by this Friday.

This post has been edited by danmooncake: Aug 23 2011, 05:38 AM

Agree here.. Gold is getting too crowded. Pop above $1900.. immediately sold off.
Extremely difficult to buy at this level. Like to see Gold pulls back to $1500-$1600 level.

---

Added on August 23, 2011, 8:50 pmYes, both BAC and C are cheap. BAC is like pricing in major recession.
Drop to $5, I'm all in.

This post has been edited by danmooncake: Aug 23 2011, 08:50 PM

Looks like short term reversal in the making here.

SP 1120 holding up..

Buy as close to 1120 as possible, sell 1140-1145 area.

Going to take a few trading sessions to let this all work out.

No just quite the opposite. Buy signal just set off.. bottom in for SP1120.
Abandoned PUTs... let see if it can try to fill that gap down from last Thursday..
needs to hold that 1140 as base level and use as launching pad.



This post has been edited by danmooncake: Aug 24 2011, 01:39 AM

I like that chart.. looks like SPY and GLD needs to meet up again after the divorce in July.
So, when they kiss again, time to decide where to put your money again.

Anyway, for Tuesday overnight sessions we got the bulls back on again:

Dow 11176.76 +322.11 +2.97%
Nasdaq 2446.06 +100.68 +4.29%
S&P500 1162.35 +38.53 +3.43%

Everyone was watching that double bottom for two trading sessions, so it happens. We're bouncing up.
Needs more momentum up for tomorrow before the sell off again by Friday.

This post has been edited by danmooncake: Aug 24 2011, 05:46 AM