tag:blogger.com,1999:blog-12283217046066512882024-03-13T05:54:25.692-05:00StockJunkieWealth is a mindset. It's all about how you think. Money is literally attracted to you or repelled from you. -- David SchirmerStockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.comBlogger37125tag:blogger.com,1999:blog-1228321704606651288.post-48202336899622278552009-04-12T23:22:00.002-05:002009-04-13T00:00:12.295-05:00Back!I had a nice week off though catching Thursday's move would have made it better.How fabricated it might be but WFC gave market good news.As a result financials showed strength and led from the front.Important earnings that will most likely determine market direction:<br />April 14th<br />GS<br />INTC<br /><br />April 16th<br />GOOG<br />JPM<br /><br />April 17th<br />C<br />GE<br /><br />S&P 500 has minor resistance around 875 which I personally think we will blow past after <span style="font-weight: bold;">GS</span> reports. I hope we get a slight pull back on Monday so I can load up on <span style="font-weight: bold;">GS. </span>As far other possible plays are concerned my bet is on <span style="font-weight: bold;">GOOG.</span><br />This will be a historic week because <span style="font-weight: bold;">FAS </span>and <span style="font-weight: bold;">FAZ </span>will swap places. I 'll probably pick some <span style="font-weight: bold;">FAZ </span>up around $5-$7 range when S&P hits 950.Stockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0tag:blogger.com,1999:blog-1228321704606651288.post-51792836439144866372009-04-03T00:15:00.002-05:002009-04-03T00:27:49.387-05:00Early weekend!Taking off early this week sure is fun when the market works your way.Go Bulls!Stockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com1tag:blogger.com,1999:blog-1228321704606651288.post-80576410152693803252009-04-02T09:39:00.002-05:002009-04-02T09:42:09.497-05:00Smoking a victory cigar!<a href="http://4.bp.blogspot.com/_JwKS8Xqq-J4/SdTOujvf53I/AAAAAAAAAD8/9yIYZNfxULo/s1600-h/untitled.bmp"><img id="BLOGGER_PHOTO_ID_5320104359095166834" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 164px; CURSOR: hand; HEIGHT: 200px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/_JwKS8Xqq-J4/SdTOujvf53I/AAAAAAAAAD8/9yIYZNfxULo/s200/untitled.bmp" border="0" /></a><br /><div>Nice day to be a bull, keeping the stops in place though.</div>Stockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0tag:blogger.com,1999:blog-1228321704606651288.post-14734154112801356392009-04-01T21:26:00.003-05:002009-04-01T22:17:31.574-05:00Bears are toast!The futures are pointing higher and tomorrow could be a very tough day for the bears.Looks like the market will respond positively to the market to market decision.Life is going to get very tough for the stubborn bears out there. They are drawing lines on their fancy charts and trying to convince themselves that this rally will come crashing down. But the fact is that easy money is on the long side.So either get on board or crash and burn.If you are late to the game trading 3X bullish Etfs can make a quick buck.My favourite are TNA,FAS,and BGU.Just remember that it is a traders market right now and the short term trend is bullish.I hope I can get in a few more long positions in the morning.If we gap up (which seems likely) I'll wait for the first pull back that usually comes after 15-30 mins.<br />Good Luck!<br />lsustockjunkieStockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0tag:blogger.com,1999:blog-1228321704606651288.post-50345340296544791652009-04-01T20:28:00.002-05:002009-04-01T20:42:18.887-05:00ATTENTION LURKERS!There are a few people who drop by the blog every now and then.I would love your input, welcome critique and love to agree/disagree.I am a part time trader who is striving to get better one trade at a time.My purpose is not to sell anything or brag how right I am.So come on in, drop a line or two.I welcome any college football trash talk too!<br />Thank you!<br />lsustockjunkieStockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0tag:blogger.com,1999:blog-1228321704606651288.post-47279885614252613622009-04-01T12:04:00.005-05:002009-04-01T12:14:17.405-05:00Take some off the table!Solars are modestly up today, I think it is wise to take some off the table and tighten the stop.Even though most of them are positive they have not cleared yesterday's high.Which makes me believe that there could be a slight pull back here.YGE and SOL remain my favorite to trade while I am eying ENER as a long term investment.<br /><span style="font-weight: bold;">Update:</span> By the way this is not an April's fool joke bears.Get ready to be stream rolled tomorrow as Market to Market rule change will buzz saw you in half. This is my last warning I am doing my part.Stockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0tag:blogger.com,1999:blog-1228321704606651288.post-75038253304233135612009-03-31T11:40:00.004-05:002009-03-31T22:55:47.797-05:00My bullish bias!Most of the worst news has been baked in.During the last run up a lot of money was on the side line which feels left out.Secondly our Government's save at all cost approach will not let the natural progression of market take place.I am not arguing that it is the right thing to do or will it work in the long term.But for now it will get the market going.At the most auto industry will be made the scape goat.<br />I am bullish heading to FASB's vote on new market to market accounting propsal.I won't be surprised to see uptick rule to follow soon.This can pretty much kill the bear market as it is.I don't agree with everything being propsed.But I'll trade which ever way it makes me money.<br />Right now solars are where the action is along with my favorite TNA and FAS.Stockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com2tag:blogger.com,1999:blog-1228321704606651288.post-75134887566972225732009-03-31T11:28:00.003-05:002009-03-31T11:49:29.255-05:00Solar Fun!Solar stocks just took off in the last 30 mins or so.YGE and SOL are my favorite to trade.They can easily double from here.As far as the bears are concerned it is back to slow and painful death.Stockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0tag:blogger.com,1999:blog-1228321704606651288.post-13998371947673164622009-03-30T22:39:00.006-05:002009-03-30T22:54:17.748-05:00Time to stream roll the bears!<a href="http://2.bp.blogspot.com/_JwKS8Xqq-J4/SdGTXUAh4mI/AAAAAAAAAD0/tbqV4tkiLJA/s1600-h/saupload_image002_thumb1.jpg"><img style="MARGIN: 0px 10px 10px 0px; WIDTH: 200px; FLOAT: left; HEIGHT: 132px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5319194663618470498" border="0" alt="" src="http://2.bp.blogspot.com/_JwKS8Xqq-J4/SdGTXUAh4mI/AAAAAAAAAD0/tbqV4tkiLJA/s200/saupload_image002_thumb1.jpg" /></a><br /><div>Don't be fooled guys, this was a lame attempt on the bears part to make a come back.It was by no means a sell off, yeah we were down 250+ and there was bad news from GM but where was the volume?Quite frankly we learned nothing new today, any one who has ever driven a GM knew this day was coming.As long as we don't hear the word "nationalize" anytime soon we are going higher.</div><div>My ideal set up would be gapping lower and trapping some greedy bears in.Then blasting off around mid day finishing strong hopefully starting a massive short squeeze.I am looking at TNA, FAS,and Solar stocks to get in.My favourites to trade are YGE,SOL and STP.</div><br /><div>Good Luck! </div><br /><div>lsustockjunkie</div>Stockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0tag:blogger.com,1999:blog-1228321704606651288.post-40357545680495815242009-03-30T11:33:00.003-05:002009-03-30T11:49:06.432-05:00Bears are dead!I am starting new long positions in face of this move down.We were way over due for a pull back and that is what we are getting now.I am bearish when it comes to oil so I might take stab at DUG here other wise my buy list is:<br />YGE<br />STP<br />TNAStockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0tag:blogger.com,1999:blog-1228321704606651288.post-21923072730422416322009-03-29T14:16:00.005-05:002009-03-30T00:10:31.306-05:00Don't hold your breath BEARSA lot of economic data comes out next week.Bears will likely try to put their spin on it and justify that everything is going to zero.But in reality nothing short of nationalizing the banks will put fear back in our hearts. Technically there is a lot of resistance ahead which is the last hope for the shorts.They are hanging by a thread in hopes that overbought conditions with over head resistance will stop the bulls.If we break through, a massive short squeeze will take place which will be very rewarding.There is a chance that we do pull back here but it won't be a sell off.I am not interested in getting short if we do go lower here.Instead I'll be looking for stocks that consolidate bullishly to go long.<br /><span style="font-weight: bold;"><span style="font-weight: bold;">Update: </span></span>I failed to address Auto task force rejecting GM and Chrysler plans thus sending the futures lower. But Obama administration is not going to do the right thing and let these companies fail. Instead they'll get a sweet deal and taxpayers will get screwed again.Stockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0tag:blogger.com,1999:blog-1228321704606651288.post-59169839725225609362009-03-27T10:14:00.003-05:002009-03-27T10:20:48.334-05:00Fun in the sun!This is pure profit taking on part of the bulls heading into the weekend.Don't hold your breath bears it is not going to happen.I am focusing on only two stocks here FAZ and FAS. FAZ gapped up and ever since has been drifting to fill the gap.FAS gapped down and has been chugging along to fill the gap.I am going to enter <span style="font-weight: bold;">FAZ around $18.50 with a stop at $18 </span>of course depending on the volume and stochastics. I'll enter <span style="font-weight: bold;">FAS after it breaks out above $7.<br />Lets see which one works today!<br /><br /><span style="font-weight: bold;"></span><br /></span><span style="font-weight: bold;"><br /></span>Stockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0tag:blogger.com,1999:blog-1228321704606651288.post-28151335583225905152009-03-26T20:55:00.002-05:002009-03-26T21:28:20.652-05:00It has been a slow and pain full death for the bears.Instead of just throwing them off the cliff the bulls prefer to bleed them into oblivion.It is amazing how many bloggers out there are still short.There arrogance surprises me, no one could have predicted such a bounce but missing out on 1500 point move altogether is shameful.I admit I was skeptical at first but I learned my lesson and placed my trades accordingly.It is not going to be a V shaped bottom and there will be a pull back but forget about the test of <span style="font-weight: bold;">"the lows". </span>I missed today's trading day because of work and was bummed out on missing the move in the solars. Every time I listen to Obama speaks he keeps on pushing alternative energy. I was thinking about picking some JASO the other day.But now I guess I have to wait for a pull back. The short interest in all solars is quite high and the move is not over.I am looking at <span style="font-weight: bold;">ENER </span>is an investment and will trade other solars after a pull back.<br /><span style="font-weight: bold;"><span style="font-weight: bold;"><span style="font-weight: bold;"></span></span><br /></span>Stockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0tag:blogger.com,1999:blog-1228321704606651288.post-18928633640507214302009-03-25T21:38:00.003-05:002009-03-25T21:52:54.891-05:00Stick a fork in the bear market<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://1.bp.blogspot.com/_JwKS8Xqq-J4/Scrs-egPH1I/AAAAAAAAADM/KJmPFZpaIPI/s1600-h/KramerTurkey.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer; width: 200px; height: 150px;" src="http://1.bp.blogspot.com/_JwKS8Xqq-J4/Scrs-egPH1I/AAAAAAAAADM/KJmPFZpaIPI/s200/KramerTurkey.jpg" alt="" id="BLOGGER_PHOTO_ID_5317322868148608850" border="0" /></a><br />it is done!There is a lack of bad news and each economic number that comes out shows that things are getting better.But stubborn bears who are over invested in likes of <span style="font-weight: bold;">FAZ </span>and <span style="font-weight: bold;">SKF </span>are still dreaming of that one last run.Dream on!Stockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0tag:blogger.com,1999:blog-1228321704606651288.post-87739760613516336322009-03-24T23:23:00.004-05:002009-03-25T00:04:28.391-05:00Market pulled back setting up an interesting day tomorrow.DOW,S&P and NASDAQ are all approaching 50day SMA.I'll probably wait till <span style="font-weight: bold;">NEW HOME SALES </span>and the <span style="font-weight: bold;">CRUDE INVENTORIES </span>come out to trade.Like always I'll day trade the ETS for quick scalp here and there. Break of 800 is the key but I don't think we'll see a significant down side without a major bad news acting as a catalyst.<br />Just <a href="http://www.bloomberg.com/apps/news?pid=newsarchive&sid=alqMklQnptWE">read</a> that Short Sales rise to Most Since September if things do turn around we'll go up in a hurry I'll start compiling a list of highly shorted stocks.Stockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0tag:blogger.com,1999:blog-1228321704606651288.post-36825146217162000872009-03-24T09:06:00.000-05:002009-03-24T09:08:09.917-05:00Booking Gains!Taking profits here, this could be a profit taking day.I won't get short unless we break S&P 800.Stockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0tag:blogger.com,1999:blog-1228321704606651288.post-70271381108625679012009-03-23T23:31:00.003-05:002009-03-23T23:50:30.739-05:00Bears pinned!<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://4.bp.blogspot.com/_JwKS8Xqq-J4/SchjQUX0ELI/AAAAAAAAADE/thiJGyqYAQQ/s1600-h/bull-and-bear.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer; width: 200px; height: 130px;" src="http://4.bp.blogspot.com/_JwKS8Xqq-J4/SchjQUX0ELI/AAAAAAAAADE/thiJGyqYAQQ/s200/bull-and-bear.jpg" alt="" id="BLOGGER_PHOTO_ID_5316608492108517554" border="0" /></a><br />Flexibility is the name of the game.I had been a stubborn bear for the last week or so.Many time forcing bearish trades and getting stopped out at many instances.Even though my losses were limited not making money while market kept on going higher was frustrating.Even though printing trillions out of thin air and risking our future generation does not really make sense.But hey this is what the market wants to hear why should I fight it and not make money.I'll take some off the table tomorrow if we do rally again.In case of a pull back I 'll have my stops in place.<span style="font-weight: bold;">TNA, BGU </span>and <span style="font-weight: bold;">FAS </span>are on my radar. But I am not risking going short because the bulls have the bears pinned!Stockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0tag:blogger.com,1999:blog-1228321704606651288.post-9340702908828405392009-03-23T08:17:00.002-05:002009-03-23T08:23:23.803-05:00Futures ripping higher!<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://3.bp.blogspot.com/_JwKS8Xqq-J4/SceNPaW8E7I/AAAAAAAAAC8/Hxjdcosg_9I/s1600-h/bull-full.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer; width: 200px; height: 191px;" src="http://3.bp.blogspot.com/_JwKS8Xqq-J4/SceNPaW8E7I/AAAAAAAAAC8/Hxjdcosg_9I/s200/bull-full.jpg" alt="" id="BLOGGER_PHOTO_ID_5316373181047247794" border="0" /></a><br />Banks and Commodities stocks are moving higher in pre market.I am going to day trade on the long side focusing on <span style="font-weight: bold;">TNA, GE, FAS,GNW,FITB,UYG,URE </span>to name some.Good Luck!Stockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0tag:blogger.com,1999:blog-1228321704606651288.post-66142970055661803002009-03-22T23:48:00.002-05:002009-03-22T23:58:42.609-05:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://2.bp.blogspot.com/_JwKS8Xqq-J4/SccUzremPbI/AAAAAAAAAC0/l4T1qbUuvuU/s1600-h/Gold%26SIlver.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer; width: 200px; height: 184px;" src="http://2.bp.blogspot.com/_JwKS8Xqq-J4/SccUzremPbI/AAAAAAAAAC0/l4T1qbUuvuU/s200/Gold%26SIlver.jpg" alt="" id="BLOGGER_PHOTO_ID_5316240763211103666" border="0" /></a><br />It is quite frustrating to get any sense of direction in this market.Bears are frustrated by the lack of pull back and the bulls fear this rally would end.The only thing that makes sense to me is getting long <span style="font-weight: bold;">Gold </span>and <span style="font-weight: bold;">Silver. </span>At optionmonster.com they had mentioned some one buying Apil $14 SLV calls and April $13 puts basically a long stragle. I might follow suit or go long some gold and silver stocks namely:<br />EGO<br />PAAS<br />Ofocurse after a pull back.Right now the futures are up and please read http://seekingalpha.com/article/127152-the-geithner-plan-faq article on Geithner's Plan.This could clear up some general questions you might have.Stockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0tag:blogger.com,1999:blog-1228321704606651288.post-50532701817740122422009-03-20T00:49:00.004-05:002009-03-20T01:23:46.750-05:00Toss up Friday!<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://3.bp.blogspot.com/_JwKS8Xqq-J4/ScMxaosTzXI/AAAAAAAAACs/1zDM49feiQM/s1600-h/toss+up.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer; width: 200px; height: 150px;" src="http://3.bp.blogspot.com/_JwKS8Xqq-J4/ScMxaosTzXI/AAAAAAAAACs/1zDM49feiQM/s200/toss+up.jpg" alt="" id="BLOGGER_PHOTO_ID_5315146318896942450" border="0" /></a><br />It is option expiration tomorrow, market is overbought and profit taking is way over due.The list goes on and on and on to make a bearish case.If we rally again on light volume I'll take a risk and buy some <span style="font-weight: bold;">FAZ </span>calls.Stockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0tag:blogger.com,1999:blog-1228321704606651288.post-16418133190122428152009-03-19T12:09:00.003-05:002009-03-19T12:22:06.519-05:00Even though I don't trust this down move yet, <span style="font-weight: bold;">FAZ</span> is off its lows and could break out above $30.I'll enter if I see encouraging volume.It is trading in a very tight channel for the last 2 hours or so.Just a day trade though not keeping anything overnight.Stockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0tag:blogger.com,1999:blog-1228321704606651288.post-70356247184837630312009-03-18T18:06:00.004-05:002009-03-18T18:48:32.657-05:00Glass half full or half empty?<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://1.bp.blogspot.com/_JwKS8Xqq-J4/ScGG-RlUlYI/AAAAAAAAACk/72Oj2QVSfTU/s1600-h/half+glass.jpg"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer; width: 164px; height: 200px;" src="http://1.bp.blogspot.com/_JwKS8Xqq-J4/ScGG-RlUlYI/AAAAAAAAACk/72Oj2QVSfTU/s200/half+glass.jpg" alt="" id="BLOGGER_PHOTO_ID_5314677439703848322" border="0" /></a><br />My bias has been bearish for the past couple of days. Fundamentally I refuse to believe that things have changed dramatically for the financial stocks to rally this hard.After every close the case for a pull back gets stronger .Every technical indicator shows us overbought and extended.Yet much to the bears dismay we keep on charging ahead.<br />Personally I have made the same mistake both time I have traded this week.I have ignored every bullish set up I came across expecting a sell off.Today when I was looking to short XLF I could have easily gone long when it broke above $8.60 with volume.But I insisted to look at the glass half empty and did not act.I need to ignore what I expect to happen and trade the opportunity that comes up.<br />I am going to take it easy the rest of the week.I believe for a considerable leg down we need some bad news.Just the overbought conditions are not enough to curb the enthusiasm the bulls have.Even a profit taking day won't be as bad as bears desperately want it to be.Stockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0tag:blogger.com,1999:blog-1228321704606651288.post-2474121919814528782009-03-18T14:34:00.002-05:002009-03-18T14:37:35.680-05:00Choppy out there!Long FAZ @ $28.00 average stop $26 target $32.Risk and reward is worth it.It is a very small position, I think Bulls will come to their senses and take profits.Stockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0tag:blogger.com,1999:blog-1228321704606651288.post-57439768649035493612009-03-18T12:36:00.002-05:002009-03-18T12:42:49.523-05:00Ready for anything!Market has recovered off its lows.The FOMC announcement is in 30mins and the general consent is that we could rally into the close.If so I 'll ride the strength in the tech names like <span style="font-weight: bold;">AKAM,VMW </span>and <span style="font-weight: bold;">WDC</span>(close to breaking out).If the reaction is to the downside, <span style="font-weight: bold;">FAZ,SKF</span> and<span style="font-weight: bold;"> SRS</span> are at an attractive level.Stockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0tag:blogger.com,1999:blog-1228321704606651288.post-17514830603088438262009-03-18T09:39:00.003-05:002009-03-18T09:47:17.257-05:00Waiting for the FedDow down around 120 points right now, surprisingly the financial are still holding up pretty strong.I am reluctant to make any move until the fed meeting.If the downward spiral continues I'll short XLF which has been trading in very tight 20 cent range.<span style="font-weight: bold;">SRS,SSO(short) and GE(short) </span>are on my radar.Stockjunkiehttp://www.blogger.com/profile/07171347941332298528noreply@blogger.com0