it when people degrade internet slang into "wut" "tat" "iz" "dat" Come on people, we're looking to shorten the amount of typing we do, not butcher the english language to make it sound like we're all podunk second graders, son of klansmen, from mississippi. YEE HAW!
anyway
Trades
Thursday
Covered o/n short on SIL @ 2.59
+607.42
Friday
re-entered SIL short at 2.28 and covered right before close at 2.41
-$147.00
6047.58
I still need to be grounded from my gain. I have a day trade but don't plan on using it untill Tuesday. Plenty of potential with the bailout news for monday. My beloved penny financials, and a few nice risers like HYDG that the GOTS crew has my back on.
There has really been some interesting plays to mention from this week. I've seen stock tank and break-out in very irregular patterns.
CEG had an epic fade from the $60's to $14
TGIC had a huge interday spike
NCC had 300% EOD on friday.
What does this? .....liquidity, lies, rumors, but most of all perception. I told Lawerence, the market hardly reacts as we expect. It's all about perception. The funniest example being AAPL's iPod and iTouch release day. Nobody cared about the new products... everyone wanted to see if Steve Jobs looked like he was going to die soon. Had he not worn thigh and chest implants the stock mighted had the GOTS guys cheering "TIMBERRRRRR". j/k about the implants, he was fine... well, at least according to the CNBC reporter that specializes in assesing CEO health at press confrences. I think that this is just the beginning too. Something is up. How can a stock have 30-40% interday swings 3-4 days a week? This is insane and far from over. I don't see an end to these swings simply becuase everyone fails to mention them. Of course, as everyone knows, efficient markets eliminate easy profit strategies over time, and this may be exactly why no one talks about it. Though, we've seen 5 big guns (count them FRE,FNM,LEH,(sorry LEHMQ), AIG, AND WM) all fall to become pennystocks. Too bad everyone fails to admit just how serious this is to the amerian public which is why pennystocks will continue to pwn joo noobs @ teh soaring and sinking the way they do.
As I told ben in a quick email today. FRE/FNM should open up to news of the bailout certain to occur tommorw(....or tonight rather) evening. Who would of called that the entire U.S. market could collapse due to a crisis in a single investment sector? oh yea... i did. This is all surreal, nonetheless. The extent of which it has happened has been played up by the media as almost unexpected. I guess I should do like I did before, forget the media, read my own history books of the market and come to my own conclusions. That being said, the potential to invest in Asian markets is huge. Seriously, just in terms of business imerging in weak financial markets. As indos and chinese start being able to afford the goods that us in the west have been basking in for years, supply will find its way to the demand. Business men will build their business. High fashion in India has yet to come, superstores are beginning to make their way, the online shopping potential hasn't even been tapped. When I went last xmas, I remember how shocked me and my dad were when we were at a hotel(restaurant) and the punjabi's next to us whipped out a birthday cake with candles during dinner. this was a first! people don't have TIME to do this in India. Work in the fields, or work in a cubicle picking up phones... this is what its been for indo's up till now. It shows, they aren't spending their time working. They have time to spare to celebrate and relax, and more importantly, they ahve the money! This was a moderately nice hotel too. moving on, in india, with products like the TATA nano being unveiled, an entire new class of people in India are going to be buying cars!And you can bet their ass'es are going to want to roll further than down the street than to eat some samosas, and mango chutney. They're going to want to travel, go on vacation and indulge. Jim Rogers said "If you were smart in 1807 you moved to London, if you were smart in 1907 you moved to New York City, and if you are smart in 2007 you move to Asia." Look at all of the worthless public companies in America. Why can't asia have them too??? This is huge. During dot-com, IPO's shot through the roof regularly. Tripling, doubling...fuck, there was no use for techinical analysis. Just follow the crowd. These companies are going to want to follow the capitlistic model and join the free market. Plus, its a nice accomplishment to be public. So let the IPO's happen. Let each company have it little bit of publicly traded glory. LET THE PRICE and VOLUME ROCKET. Thats exactly what traders want. As long as there is volatility and liquidity there is money to be made! Someone(i forget who) also made the point that up and coming nations have the benefit of learning from our mistakes. Well, now the whole world knows just how risky mortgages backed securities are. We should get a fucking award for the amount by which we help others by showing them exactly how to screw your entire economy.
Like I quoted Cramer last time, "there's always a bull market somewhere." But I say, who says the bull market has to be found in America? Or even the west for that matter.
