Category Archives: Uncategorized
Firstly, it should come as no surprise to most that although my current habitat is a small grey cube I’m best suited for the circus. One of my specialties is spinning nine plates while tending to nine irons in three fires while riding a unicycle. As such, I’m not caring so much when I’m wrong on a trade or business venture because three others are putting bread on my little clown table.
In the past, I could be found on the twitter early in the morning, guns blazing like Yosemite Sam on these juiced up stocks like ZNGA or BBY. I like swing trading little 5-8 percent bangers and it’s treated me well since like August.
But sometimes you have to find another cat, and skin it naked. Aside: I love cats. I keep two of the outdoor variety for keeping the damn squirrels out of my walnut trees. Back on the topic: I like the S&P future contract. It’s the most liquid financial instrument in the world. It is the essence of pure order flow. Any hand big enough to sway this market shows a big harry footprint. I like order flow, so I’m teaching myself to trade it.
The plan calls for me to trade the e-mini S&P from 8:30am-11am. I trade this market without external influence. No blogs, no twitter, and most certainly no teevee. It’s just me and my robots.
So don’t go looking for me so much around those hours.
The way I trade stock swings, I need a good look at the close to solidify the signal. However, I like getting in early sometimes, and since I won’t be as active in the morning, only 25 percent of my capital will be tied to these types of trades.
The rest I’ve begun dollar-cost-averaging into names I really like. My two absolute favorites are CREE and AWK. Light emitting diodes and water. Both are vital to our future. I started buying SAM, but I’m not as solid on this thesis yet. I may just cut and regroup. I’m trying to get excited about AAPL, seeing as I bought the bottom, but it’s hard to call this an investment yet. I could cut at any moment.
So I’m an investor now, a swing trader, a morning scalper, an accountant, a business owner, and a blogger. Fly will tell you to temper your expectations on life, but my father was a day laborer and I’m already upper-middle class looking to get rich as fuck. Straight up, I won’t stop until I have a stable of cars, a Lenny Dykstra-Wayne Gretzky house, and one of those vanishing edge pools.
Last thing: many respectable players recommend keeping separate accounts for different strategies. I’ve never tried putting them all together, but I DO keep separate accounts for all of this trading activity. I can imagine it could get harry having it all in one place.
I’m currently participating in a pocket of high energy moves via these mobile internet/housing plays. Take a look at TRLA, Z, and ANGI. I’m long all three for the parlay. These stocks are gaining the attention of investors both for their expertise in the mobile/social platform and for their exposure to housing, which many believe to be resurging.
Courtesy of finvz.com
Yesterday the market trended higher and did so riding on top of a pile of flaming hot hundred dollar bills and five hundred euro bills (I love that denomination, don’t you?). What I mean to say is, just like any levitation in the market, it’s susceptible to the fickle hot money bailing.
What we want to see today to stay constructive on the market is not what we needed to see Monday or yesterday. Today, we’re lowering our expectations. If we can see a healthy consolidation of the impressive progress bulls made this week, it could allow healthy underlying charts to continue their advance.
Since we’ve cleared all nearby profile resistance in the S&P, we can gleam most insight from simply observing yesterday’s range and profile, and how we trade in relation to it.
As of 8:15 futures are priced three handles above yesterdays’ close, but within our value area spanning from 1443 to 1435. If we can hold the value area low (VAL) at 1434.75, I’ll consider our consolidation very constructive. Considering the speed and heat of the advance, I’m willing to remain constructive down to 1434 where the single prints begin, a level slippery and susceptible to a flush lower. I’ll cut my less desirable, most degenerate, and most overheated names should we trade below 1434.
Scientists have proven that, for men, looking at a beautiful woman lowers the blood pressure. With our damning of society in our real life film noir existence, today’s selloff, and the holidays we could all use some stress relief. If you know my style on twitter you know I only follow traders and models. Together they form a symbiotic stream of productivity. One of my favorites Miranda Kerr and her fellow angels made a video for our enjoyment. Enjoy the following video and remember that the holidays are about love and forgiveness:
S&P futures have the markets currently priced to open near yesterday’s close after a fairly large overnight range. Price failed overnight at the volume price of control (1430.00) and rotated lower to test Tuesday’s gap below. Since then buyers have stepped back in and stabilized things.
There are a few interesting characteristics in yesterday’s profile. The value area consumes all of the prior day’s range and is indicative of a wild auction with slight indecision. That’s of little surprise as the market was digesting the Ben and the The Fed in real time. Also interesting in where we closed yesterday, right near the value area low, which is to give the sellers a slight edge going into today’s trade.
The 1426-1427 level will be important today as a confluence of yesterday’s close and Tuesday and Wednesday’s value area lows. If price is sustained below this region sellers may target a gap fill back down to 1420 region. Should the market not find reactive buying at that point our next level of support is 1418.
Things get fun above 1434 value area high where the fading of the Fed pop began.
Shortest term, bears have a slight edge, but the swing trend is higher giving me patience on my long positions especially stocks like TSLA which are grinding higher. However, some ugly candles were printed yesterday which should have you considering clearing some weak positions from your portfolio.
UPDATE NOTE: I sold TSLA after the stock hot knifed lower.
— raul3 (@TwoSmuth) December 13, 2012
Remember to vote for RAUL3 today, eater of monkey brains and anything else in the quest for knowledge.
What has been clear since the election began in these most hallowed of hallowed halls is the lack of support I’ve received from members of The PPT. It has even been speculated that I represent the “anti-PPT candidate” to which I say without question I am not. When Fly, very appropriately manifesting into Plutonium Petey, dropped The PPT BOMBSHELL on the interwebs, I knew the game had changed.
iBankCoin was my first stop every time I fired up my PC then as it is now. But I knew the bar had been raised, and I would be left behind. I was broke. I couldn’t afford the small door charge to enter the club. Plus, I figured, fuck it I’ll hang out in the back ally and piece together what I could.
Back then for many devote readers The PPT represented a reprieve from the moronic plebs and a more refined domicile. I noticed some of my favorite commentary leaving the public forums. Traders like Moober, Trading Wife, Braveflaps, Anton, Bernie Cornfield, and so many more trickled away. There were even talks that Alphadog was blogging on the inside, he was always a favorite read. But I pressed forward on my coin banking mission, knowing I’d eventually pay my dues and take the ride. Soon Chess and Rage had 12631 and even more of my favorites vanished.
Here we are today, why do I stand alone and without The PPT?
About a year into the founding of The PPT, I started gaining interest in future contracts. Auction theory was being talked about for the first time by guys like @futurestrader71 and I was impressed. Something about volume at price is so intuitive. The more I’ve ventured down this rabbit hole, the more resources I’ve diverted its way. You’ll quickly find out good data isn’t free. A decent data feed will run you around eighty bucks a month. Then there’s charting platforms who charge and you have to find one that fits your plan. In short, I’ve committed my budgeted annual trading expense allotment (Raul3 the accountant coming out) to advancing my knowledge of futures. But I’ll never stop trading stocks.
I tell you all of this, members of The PPT, optimates, as an appeal to your better judgment and to offer you a promise. You traders are more than members of an exclusive club. You represent everything this site was founded on, the traditions we hold and an ace ability to bank coin. Should my blog wage from Sir Fly provide a boost in income capable of funding a PPT membership that will be the first place the money spent. FOR KING AND COUNTRY!
The weakness today from shares of Verizon (VZ) and AT&T (T) today is pronounced and showing signs of acceleration, especially AT&T. Both companies had strong performance over the last three years, and the iPhone no doubt contributed to their strength. While I am by no means calling for a top in either name, it’s worth noting their weakness recently.
Be cautious of a flush lower in both names over the next few weeks.
The Euro dollar future contract is trading north of the key $1.3000 price level highlighted last month, and bonds are adding to the case for an increased risk appetite:
Whether or not you consider our current market to be weak is heavily dependent on the individual names making up your portfolio. For example, the relative strength of the finance sector continues, but high flying tech longs are getting their clocks cleaned. The energy complex was strong yesterday, but refiners are getting lit up today. We’re operating in a mixed bag of sorts. I highlighted 1.3000 in the Euro dollar future a few weeks back and the price level is also still a place where I lean on my bias.
Taking to the S&P via the SPY ETF, we see the financials buoying the market decently, and looking at the momentum divergence on my CCI, if we see buyers begin to assert themselves later into this week, they could really get things moving to the upside:
As for the NASDAQ via the QQQs, the index is trading below the 33 EMA, and although it’s sporting a similar CCI divergence as the SPY, the “wormed apple” and other names have put the QQQ bulls on their heels, and they have much work ahead of them if they want to regain the edge:
Finally, the demand for risk free Treasuries remains high. The short duration (3 year) auction that took place yesterday pushed yields below 40 basis points. The longer duration Treasury ETF TLT could be forming a right shoulder here, and bond bears could be backing off a bit:
All these cross currents have me considering raising cash, but I’m waiting for one of the above instruments to “tip their hand” and confirm. Until then, I will practice patience and eating sandwiches.
SIDE NOTE: COST showing us how you really do the $100.00 dollar roll.
The republic of iBankCoin has spoken. The blogger network has been demoted. I can hardly say I’m surprised. Reading through the unnamed board member’s comments, it’s easy to assume many related to my person and my pseudo existence on the interwebs. Does a sense of shame wash over my mind? Ghast, no! The Fly is a kind leader, and will continue to let us roam the lesser halls of iBC. However the finest confounds of the internet pale in comparison to the lesser halls of iBC.
Do I deserve to be tabbed, on this holy of holiest site? You’re god damned right I don’t.
I’m not a professional of any rank currently. I’m a fucking accountant, for now. As I write this however, many young wheels are slowly taking motion. These vehicles have begun extracting income from our leaky economy and soon will replenish my coffers at a regular basis thus freeing me from the tyranny of my corporate butt fuck job. Mind you I never intended to be an accountant; it’s just the easiest job one can obtain these Midwestern days.
Which brings me to why I don’t belong iBC tabbed:
I would sully the great works of the tabbed geniuses with my incessant drivel. Have you ever seen an accountant up close? Drivel literally spews from the facial orifices all day like an overheated basset hound. Vile fucking humans accountants are.
So until I shed the dog skin suit of an accountant and run free through the interwebs naked for the world to see, I will remain without tab. And will certainly not procure my own blog domain.
I enjoy much of what the blogger network produces. Especially the following:
Rhino lives where generations of acid have degraded society into a cup of raisins. And he has super hero like strength. His picks are good. Sometimes he writes really long paragraphs and I skip them because they lose me. He may want to beat my person to a pulp. However I run a low ten second 100 meter dash and can transition that immediately into a six minute mile pace, so I’ll run.
Both Zenhunter and Noodleboy trade in a manner similar to mine and I enjoy their posts.
AffluenzaVirus posts great chart setups and I always make it a point to peruse his picks.
NoBull Marc David is a professional and anything he writes I consider important to my overall health.
Mr. Partridge was pretty great, but he went away.
I really enjoy reading schadenfreude.
Kcscott puts together some ace comprehensive pieces. Mostly I click to see his cropped babe on a chart uploads.
Research Donkey really seems more news feed based, but I enjoy.
Vking…I don’t know why but I get quite the kick out of his work and he’s an interesting character. His time stamps have really messed up the blogger network’s chronology.
Elizamae, Redman59, and many more I’m sure to forget are all great reads for me.
Some suck dick and that’s fine too. All together it makes for an interesting community of likeminded individuals.
Bottom line: I navigate away from iBC ONLY when I can’t find something new to read. I go to other sites, read them for like 30 seconds, because they have one writer and fucking leave and come back to iBC. Battle well my fellow blogger network people and continue to add value to my iBankCoin experience.
I LIVE ON THIS SITE.com
Going forward I will focus on risk management. It’s my favorite. You will continue seeing my posts because I’m drawn to the work by a strong force.
Indeed, these are interesting times we live in.
TOP STOCK PICK: TPX
TOP POSITION PICK: CASH