Well, I generally put much more less concern news such as these (I think it is a noise and too much hype). Again, I think we all still worried about European economy affect on world economy especially in financial market.
According to Basel rules, 0% of provision need to protect against sovereign risk in bank's balance sheet.It means most of the bank in Europe will run out of capital it default payment in bond.US bank also involve a lot of CDS contracts with Europe bank may trigger another systematic risk.
According to some Expert, the only way they can do it is to restructure the debt to much more longer period.By doing so definitely sacrificing economy GDP growth.
A lot of trader avoid stock market due to really high volatility.I have this bad feeling most of the countries will experience "the loss of decade" faced by Japan.
since 2007/2008, the stock market recovered like turtle after 3/4 years (we're going back 2009 level again now ). Watching stock market everyday also will put someone distract from their real life job.The way I do is buy some share if the price low enough.Still the above reason always is the main reason hold me back to "sapu".

Anyway Merry Christmas to all of you & Happy trading and Investing

Time to take your money and run...

wow! strong words!

I'm out till next week.. don't care about those low volume move up.

Have a very Happy New Year to everyone!

Hopefully, we'll make more money next year!

I am hoping to get more write outs from u, understanding that u make lots of money lately.

Happy New Year.

I am curious to know, anyone starts accumulating US banks? ie. BAC or citibank group?
In 5 years, BAC dropped 90%, citi group dropped 95%.
What do you think? Please share share.

Well BAC still have USD 1.3 trillion of mortgage related debts (based on mark-to-model)that is currently having thousands of ongoing litigation in the US, mostly due to Countrywide Financials. So the losses is not yet accounted for and may/may not materialise in the future. The balance sheet is very complicated and hard to understand the true picture of the company:stars:

On the plus side it is selling at 0.3x BV and have USD 0.68 trillion in cash. Worth a bet?

Thanks for the info.

Did some readings, an expert said "European Contagion: US banks at risk--JP Morgan, Bank of America, goldman Sachs, Morgan Stanley."

However, quite a number of experts said even for the risk, with the cash these banks holding and trading below book value, bank stocks are very cheap.

We gotta judge on our own risk apatite and perspective on near future world economy's approach. Hard one, definitely.

Gaps ..... Gaps......And more Gaps

Welcome to 2012

Good evening folks,

I missed the bullish gap up run yesterday because I took an extended holiday.. no trade.

I may try to sneak in some long buys here tonight.. during the pullback.
I think the bulls may try to another attempt to break SP500 1300 within the next 2 weeks.

Energy sector esp. Oil going through the roof now with the Iran issues.

This post has been edited by danmooncake: Jan 4 2012, 10:52 PM

Hope you got out OK..........

Got out at 1280 today... pocket some change after 2 days.. market got no juice to push up above 1285.
Going to wait and see what happens tomorrow before diving back in.

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Added on January 11, 2012, 2:52 am
SPX 1296..Time to short more..but putting a stop at around 1300-1301 to be safe.

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Added on January 14, 2012, 12:28 amSPX: 1278, No bulls here.. ka-ching, time to cover for the weekend.

This post has been edited by danmooncake: Jan 14 2012, 12:28 AM

JPM miss earnings estimate - Dun care

France downgrade - Dun care

US robots just want to push up the market

QE3 anyone?

I think worth the bet.In fact I bought some aldy. LOL..

Don't think so at the moment

Alright, time to get back to the market

Looks like c miss estimate, financial not looking good

But who cares, robots just want push up the market more

Fundamental my arse

SPX 1290 - support, SPX 1305 - resistance.

Skynet indeed wants this market to go higher despite downgrade in Europe.
Buy momentum till it get to the next level. Then, start selling in Feb.

What's working so far:
Materials..
Industrials..
Energy..


What's not working: Financials..
The banks are still bleeding here..
C got whacked premarket..in earnings missed. Same as JPM..
But, WFC doing ok..

Gambling sector: I'm still trading LVS
Big thanks for China..holding up this market with the anticipating easing.

This post has been edited by danmooncake: Jan 17 2012, 11:25 PM

LVS is a good cash cow....What's ur view on LVS? I exited at round 46? U still think its a good entry?What's a good exit?

I think LVS got the upside to all the way to $48-$50 level. Earnings will be out soon (1st part of Feb).
Usually LVS runs up to earnings, then sell off.

1st phase: $40-$44 (completed)
2nd phase: $45-$48 (now, it is here)
3rd phase: $49-$50 (lots of resistance here - must take profit)

Even at phase 2.. got to watch that 47-47.50 level. If it can overcome 47.50.. I think phase 3 should be in sight.


This post has been edited by danmooncake: Jan 18 2012, 10:36 AM

I re-balance my portfolio.

Dumped DANG - breakeven
Dumped GLD and AGQ for BIG losses
Re-enter LVS 70% at before Christmas
Cash 30% to re-enter any of the RED CHIPS of Great Wall of China

RENN // YOKU // DANG