A lot of chatter, regarding mortgage rates and the prospect of the Fed raising interest rates, is contributing to intra-day weakness. There is no fucking way the Fed is going to raise rates. People are just looking for reasons to sell.
Truth be told, most investors have no idea why they are long. Most money managers are chasing performance, trying desperately to show good quarterly gains to their idiot investors.
With the dollar spiking, oil down and banks weak, we are setting up for a down day. If you need to commit capital, try to do so during the final 10 minutes of trade. The market is up 11 of the past 13 weeks. Needless to say, we are due for a minor pullback, before melting short sellers to a cinder.
At the moment, my preferred longs are GLW, OVTI, ATHR, TRID, ENTR, FTK, ERX, IR ARD and FNSR.
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Raising cash: Sells
RVI @ 3.30
CLR @ 32.00
XTXI @ 4.75
Check out the volume this week in UNG
http://tinyurl.com/m43c4f
If you want a stock that looks set up to be Explosivo next week.
I loaded here even with it up 12%!!
Oh yeah I forgot the symbol.. HaaaaHaa
GPRE
I believe it could go to teens!!
It’s Tradebot vs Tradebot in the last hour.
Yes, I know the big boys call it algorithmic trading.
But it is nothing more than robo trading.
It is The Terminator/Robo Cop in a fancy suit with lots of bling.
.
TradebotGS 3000 wins everytime
Henry – you’ve been kicking ass… Ill get long gpre as my first H.Fool pick! Let’s bank some coin!
Big Ben will use his worthless paper to buy Gienter’s worthless paper. Party on dude!!
…or every time. Couldn’t resist. You’re still the man.
TradebotSQZ is booting up for the last 10 minutes of trade.
positions in order of size
CASH 30%
LONGS:
ENTR
GPRE
EXEL
CROX
GU
DVAX
GAIA
IMGN
MDVN
Thanks for the update Henry, but IMGN is awfully lonely in your PPT watchlist
1/3 possibiity of a 50-basis-point interest rate hike by September, a 40%-plus chance of a Sept hike and a 100% possibility by December
I raise cash and get negative karma … WTF Fly?
FIG
is down 0.16 today or 4%
Whatever one makes you feel better kidcock.
Douche
Does anyone know when Maria Bartiromo will finally be carted off to the glue factory?
Stocks worth considering buying near the close…
PHH,CFNL,MD,FMR,RAX,JBHT
All are resting nicely on low volume since breaking out earlier this week..
charlie
I’m up just about 100% YTD. I love the PPT but as you’ll see it doesn’t stop me from buying without it’s approval, and most of my big hits haven’t even been on the PPT cause they are trash penny stocks!
Okay, Now I’m confused. I always thought Kidstock wrote FIG cause it was faster then writing down “Fly is God”
Henry – I’m not criticizing your picks, but as one of the few non tabbed iBC commentators I follow (also follow Cuervos, ZMoose, JakeGint until he won) it’s easier to track members on the PPT (or even twitter). That’s all.
Henry, perhaps you should become a tabbed blogger….
talk to Senor Tropicana
TradebotSQZ only at half power right now.
Consumer saving is rising, consumer credit is shrinking and we are supposed to believe our 70% consumer spending based economy is recovering. Its like saying my heart has stopped beating, I’ve stopped breathing, there is no brain activity but I am expected to still be alive and in good health next year.
As for your soda sales being a good indicator of the health of the economy, take a look at HANS.
Any thoughts on FUQI here?
too high. Here we go, final 10 minutes.
GSbot vs. UBSbot
and begin.
More cash: Sells
PQ @ 5.15
CZZ @ 5.40
NEWP @ 6.66
ROLL @ 21.58 (25% gain in 2 wks)
Cash at 50% in one acct but still 100% in another …. more thinning to be done.
No shorts yet … though FAZ and SRS are tempting.
This is a good game: gsBot vs Ubsbot. A nail biter.
E8
avoid the low hanging fruits of FAZ
The Fly is God.
Fly,
What do you suggest for an alternative?
Want to share a Stock haiku I just wrote on twitter: The warm spring air; Acrid between eyes and screens; Boom! up goes the green bar
Daily OEW Recap:
“After that opening range (934-951) the market went sideways for a few hours, but turned lower when the USD rallied for the second time on the day. The downtrend in the USD may have bottomed at 78.33 midweek. Not good news for commodities and crude oil. By 2:30 the market hit SPX 936 but only managed to rally to 943 over the next hour. It then pulled back into the close. Bonds were down over 1 1/4 points, Crude slipped 40 cents, Gold dropped $27.00, and the Euro was lower. Support for the SPX remains at 935 and then 912, with resistance at 961 and then 990. Short term momentum was extremely overbought this morning and then headed lower for the rest of the day. Quite a volatile day. Will review the charts and post in the weekly update.”
Henry Fool —
Do you have a blog or web site where you post your trades and trading philosophy? I’d like to see it.
Cheers.