Thursday, January 31, 2008

Bulls march on!

But the parade got some down pour in the last 10 min and into AH when GOOG threw a stinky ER. Tomorrow's job report will ensure yet another high volatile day, but I suspect that with FOMC decision now being made, it no longer matters much, in fact, as the most charts are now flashing buying-every-dip signals, any weakness due to a weake job report tomorrow probably will be aggressively bought. We shall see.

14 comments:

flyingwabbit said...

razor said...
Tomorrow I am buying rtn no matter what the market does, I think it goes to 90 if it triple top breaks out at 65, earnings and guidance are strong, slow unsexy but solid investment in a dangerous market.
Thursday, January 31, 2008 6:00:00 PM EST

Razor: RTN chart looks pretty good, but what makes you think it is going to 90? what time frame? this thing does not move much, why park your money on a turtle :)

razor said...

sold 300 etfc2.5@5.25 (pm)oh yeah
I like rtn because its projected to earn 3.83 this year, simple 30 pe looks like 90 easy, will buy and forget about it...drys just ran 30 pts wow...happy trading...

razor said...

ruh-roh negative jobs created clear the decks...btw aapl looks like a buy chartwise 5 days of 50mil funds? hmmm

flyingwabbit said...

razor:
aapl does feel like a short-term buy, but the R around 140 is strong, so need to get in as low as possible in order to get a decent r/r.
Got up too late, and managed to short BIDU near 292, covered near 285 and true enough, as soon as I am gone, it broke down further, just crappy execution as usual...
BTW, misf bid spoiled my plan to establish a bunch of long positions at reasonable price level, oh well...

razor said...

short fslr 183.2 what the hell...yeah aapl close to 130, but the chart looks good all of a sudden.

flyingwabbit said...

fslr is not strong and your stop is pretty close, but I won't touched unless it either bumps to 166 or 200 (CTT). good luck there!

Yuriy said...

Hey flyingwabbit, just wondering, what would it take for you to cover RCI in your weekly analysis?

razor said...

well got stopped out on fslr at 186 on the way to work lol, made up for it with rtn and sold some more etfc for a great week, happy superbowl everybody.

Kinda strange market action today whats your take wabbit?

flyingwabbit said...

razor:
as usual, man you are just disciplined on execution. Stopped out on the way to work is much better than big losses because of no stop orders before heading out to work (that's what FlyingAss does).
About the market, I thought the bullish tone is quite clear, especially some beaten down tech sectors (missed SNDK entry by 30cents, and missed a big move with more to come next week, talk about penny-pincher!).
As the Superbowl, Go SAINTS!!! eh, wait, it is not 2009 yet, duh!!!

flyingwabbit said...

yuriy:
Any particular reason that you want to trade RCI? It does not interests me at the first glance (low volume and daily range). I would normally consider it for a couple of very good beers, but because it looks boring, it's going to cost you :) But serious, why RCI?

razor said...

oh man sndk, couple years ago it gapped down 20 pts on an er, bought it at 19.5 sold it at 40, i think it went to 80 or something...these days its judged as a commodity with small margins so i will stay away, but good buy here...
The market seems fully invested here especially banks and retail but they look overbought so i missed it, can't buy everything!
Wabbit you might buy some etfc, the director bought 275k shares at 4.02, there is a gap at 8, if it pulls back in the 4's hit it, or not just a tip, but i could be wrong :P

flyingwabbit said...

razor
Thanks for the tip on etfc, but did you sell it this morning (was a very good trade, btw)? :P I'll think about it though!

razor said...

i sold 300 of my 2.5 core, 700 left, pretty overbought so i expect a drop next, sideways basing action then continue, i hope to buy more at 4.5...
i like to make money on fridays, puts me in a good mood...congrats on your 7 pts on bidu that was balls...anyway look for some ten baggers its far more elegant and relaxing than daytrading imho.

flyingwabbit said...

razor:
thanks for info on your etfc holding! you are definitely right about DT, even though I made a shit load of beers on DT this week, it just feels sucks. for some reasons, I just cannot really do sw, not that DT is always a quick thrill. need to work on that!
enjoy a good weekend!