With the influx of new subscribers to The PPT, I think it is important to take a moment to review the rules of decorum and attire, as per the private policy found inside:
“FORUM RULES AND REGULATIONS:
This is a classy joint. Don’t act like you’re in the Yahoo Message Board.
Be sure to honour the iBC Dress Code (boardroom attire) at all times.”
All riff-raff will be treated in the following way:
[youtube:http://www.youtube.com/watch?v=Fr3mlbv16Cw 450 300]____________________
As for the market, it is another choppy Fed day. The good news is that we appear to have stabilized at the 1085 level on the S&P 500, and many charts, like $LULU, have bounced at the 20 day moving average. The bad news is that we have not seen any buying with conviction. Until this murky market clears up a bit more, I am holding off on making any moves.
hey chess, i agree with you. i have super tight stops on attempts i make to get long!
SSSC,
How tight?
tried to play a break out in CF today. as it hit my buy point and went trade positive, i moved stop to break even. glad i did, because it came back into its base!
so, i mean tight! 😉
happy trading
Is that BP boardroom attire,ie., rubber hasmat suits and lot o cursing? Or lots of engineers with thier first fingers buried up to the first digit in thier nostrils going, “We are morons proud and true, lets us do our call for you…”.
Looks like we have a hammer forming on the daily for LULU with the 50 day right under it as well. Somewhat similar to the June.8 reversal sans volume.
I may consider picking some up tomorrow if we see any upside later in the day.
it looks good–full position for me and the biggest one in my book
I have heard several people say that there is just no “buy interest” and I know as few folks have just gone to the sidelines, happy with the past 12 months gains. So the real question is “what is it that will bring the buyers back”.
IMHO its not the fear of the double-dip, or even the cr@ppy housing data (which we all should have expected and next months won’t be much better). The end of the stimulus sucked in ANY buyers who were sitting on the fence.
…and yes, thanks for the advice. Playing small and keeping a tight leash on any postions
Cool video. The overuse of baseball caps is one of my pet peeves too.
In other news, I should probably stop trading in my tattered boxer shorts and cheese-whiz-stained t-shirt, and bank some serious coin with the ladies and gentlemen in the PPT.
LOL