18 Year Veteran floor trader shares his 3 daily updates, his trade selection, and over all feel of the markets. Learn how the pro..
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Don't get suckered into buying b/c of the Greeks
Published on 2012-02-13 08:02:00
For god sakes, I am watching cable TV this morning and I feel I have to write this letter this morning.Please do not get long stocks here thinking that the Greek issue is all fixed. Now we have Portugal, Ireland,Spain... So don't get lulled into complacency by TV headlines.What happens if Greece does not stay the course? Also, for the love of god, CNBC was asking "What's next ? Dow 15,000??" Good lord almighty they are bullish beyond bullish. All it takes is Greece getting a budget and all is ri
Stock Index Rally is getting really really old
Published on 2012-02-09 13:49:00
This rally in S&P has been nice. Its especially nice if you faded the WSJ and NYTimes bearish news columns which were permeating the land between Christmas and the first week of January. If you go back and read my entries, I suggested fading this bearishness.Alas, now that the S&P is 11.58 rallied up to 13.54, almost 200 handles in 9 weeks. That, my friends, is un sustainable. And now we are starting to see the dow challenge the "next big round number" at 13,000. Looking at the S&P, though its b
Thrusday USDA holds no surprises
Published on 2012-02-09 09:24:00
