“If you can buy all you want of a new issue, you do not want any; if you cannot obtain any, you want all you can buy.” – Rod Fadem (Stifel Nicolaus & Co., Barron’s 1989) This has the patina of truth and reflects the difficulty of profitable trading. Good stocks get expensive, and more…
I sold IWN, IYR and EEM at break even or down a few pennies, all of which I was prepared for. My TBT and DBC still remain in play, but I’ve raised my stops to lock in some of those sweet profits. My indicators are slightly less bullish, and with price falling below some key…
“Every great advance in natural knowledge has involved the absolute rejection of authority.” – Thomas H. Huxley (British scientist and humanist, defender of Darwinism, 1825-1895) Dissolution of old media is clearly on my mind, here’s a quote denying the value of expertise 100+ years ago. Anarchy is on the rise.
My indicators show the emergence of a new uptrend, and so I’ve bought IWN, IYR, EEM, DBC and TBT for the ride up. Since my indicators remain in bearish territory, I’m staying cautious, trading small positions till volatility falls further. Sadly, I have no chart to post because I haven’t figured out how to make…
“There is one thing stronger than all the armies in the world, and this is an idea whose time has come.” – Victor Hugo (French novelist, playwright, Hunchback of Notre Dame and Les Misérables, 1802-1885) For the second day in a row, I find myself impressed with the wisdom of fiction writers. Who needs quotes…
My time at blogspot has come to and end. The reign of wordpress is upon us. Time to get back to basics. Tuesday’s action signaled a new uptrend with an increase in the number of stocks in bullish formations coupled with a decrease in volatility. This change of environment favors the bulls, so shorts should…
Please goto: http://smokingsecurities.wordpress.com for further updates.
“If all the economists in the world were laid end to end, they still wouldn’t reach a conclusion.”– George Bernard Shaw (Irish dramatist, 1856-1950) Sadly, this playwright tells more truth about economic divination than most textbooks I’ve read. This quote is too good for commentary, so I’m gonna call it quits and watch some porn.
The market remains incredibly weak, and rather than post a bazillion charts, here is one that tells much of the story. The direction of the NASI remains down, and this keeps me from allocating money to the long side overnight. Now that I’m back in NYC, I’m busy as hell meeting people and doing stuff…
“With globalization, the big [countries] don’t eat the small, the fast eat the slow.”– Thomas L. Friedman (NY Times foreign affairs columnist, referring to the Arab nations) A cryptic quote without context, I can only assume Mr. Friedman was hungry when he wrote this commentary. Using words like fast, slow, big and small, confuses me…