Today’sTransactions:
AddedmoreABXaveragedat$50.18
Today’sReturn:-2.35%
ReturnYTD:-9.03%
S&P500ReturnYTD:-5.32%
Mypositions:
PG
UTSIJan0910Call
SOHU
GOOGMar08500Call
SNE
ABX
CVSMay0850Put
ShortSOHUJan0850Call
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AllthreemajorindicesendedthisTuesdaysharplylowerwithNasdaqnowdown8sessionsinarow.Themarketstayedinthepositiveterritoryuntil90minutesbeforetheclosewhenawaveofsellinginthefinancialsectorpushedDowdownbymorethan250points.Aftertoday’sdecline,allthreeindicesareintheofficialcorrectionterritory(definedas10%declinefrompreviouspeak).VIXIndexdidjumpbyalmost10%inthelast60minutesbuttheclosingvalueof25.58wasst...[
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Today’sTransactions:
NoTransactionstoday.
Today’sReturn:-1.73%
ReturnYTD:-6.84%
S&P500ReturnYTD:-3.54%
Mypositions:
PG
UTSIJan0910Call
SOHU
GOOGMar08500Call
SNE
ABX
CVSMay0850Put
ShortSOHUJan0850Call
[
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DowandS&PmanagedtocloseinthepositiveterritorywhileNasdaqcontinuedtodropforaseventhday.TherewasnomajoreconomicnewsscheduledtobereleasedtodaybuttradersnonethelesshopedtogetsomecluesfromspeechesbyBushandPaulson.However,bothfailedtodeliveranimmediateplantobolstertheeconomy.Themarketinternalswerenotlookinggoodwithalmost800companieshittingnew52-weeklowsonNYSEandNasdaq.USdollargainedsomegroundagainstothe...[
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Today’sTransactions:
AddedmoreGOOGMar08500Callat$177.90
Today’sReturn:-5.15%
ReturnYTD:-5.19%
S&P500ReturnYTD:-3.86%
Mypositions:
PG
UTSIJan0910Call
SOHU
GOOGMar08500Call
SNE
ABX
CVSMay0850Put
ShortSOHUJan0850Call
[
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WallStreethadabloodyweekenteringinto2008withDowdownbymorethan500points.Therewassimplynoplacetohide.Everythingfromgrowthstockstovaluestocks,frombigcapstosmallcapswasbeingsoldoff.Theinternalswereextremelynegativeasevidencedbymorethan9to1declinevs.advancevolumesonbothNYSEandNasdaq.Thedisappointingnon-farmpayrollreportforDecemberwascitedasthemaintriggerforthebroadselloff.Thenumbercameat18K,wellbelowco...[
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Today’sTransactions:
AddedmoreABXaveragedat$47.92
OpenedapositioninCVSMay0850putat$13.30Stop-lossifthestockisclosedabove$41.00
Reason:Thecompanyreleasedadisappointingsame-storesalesfigureforDecemberthismorning.Thesame-storesalehasbeentrendingdownforthecompanyinthepastfewmonths.ThestockcurrentlyistradedatapremiumP/Eratiocomparedtoitspeers.
Today’sReturn:0.66%
ReturnYTD:-0.04%<...[
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Thestockmarketendedthedayinaflatfashioninanticipatingfortomorrow’skeynon-farmpayrollreport.Thismorning’sADPreportturnedouttobeanon-eventasthenumberwasmoreorlessinlinewithexpectation.Asaresult,tradersmovedtheirfocustotomorrow’sofficialjobreport.Althoughweareonlytwodaysinto2008,themarkethasalreadyshowninvestorsclearwinnersandlosers.Withcommoditiesfromsoybeantocrudeoiltogoldtradingatmulti-yearhigh...[
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Today’sTransactions:
OpenedapositioninABXaveragedat$43.46Stop-lossifthestockisbelow$36atclose
Reason:Withgoldpriceclimbingtonewhistoricalhigh,goldminingcompaniesshouldcontinuetoseetheirmarginstoexpand.Plus,theFediswidelyexpectedtocutinterestratefurtherattheendofJanuarysotheUSdollarcouldfacefurtherpressureinthenearterm.
Today’sReturn:-0.70%
ReturnYTD:-0.70%
S&P500ReturnYTD:-1....[
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HappyNewYear!Thefirsttradingsessioncertainlydidn’tgiveinvestorsagoodstart.Allthreemajorindexesfinishedthefirstsessionof2008inanegativetonewithDowleadingthewaydownbymorethan200points.Themarketopenedmodestpositivebutquicklyturnedintonegativeat10am,whentheISMindexcameat47.7,thelowestreadingsinceApr2003.ForISMindex,areadingbelow50indicatesrecessioninthemanufacturingsectionoftheeconomy.Althoughonemont...[
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