Yes, as of a few days ago Brandon is a sponsor once again and we welcome him back. Nice thread as usual Brandon.
Brandon, keep up the good work. You're one of the few that have something interesting, and actually related to trading, to say around here.
Did you avoid Friday's strong selloff in the US Equities markets? If you follow me at my free site, http://www.brandonfredrickson.com you safely avoided a 100 point down day in the DOW and 26 point loss in the Nasdaq. While everyone else was telling you to "buy with both hands" I pointed out the FACTS here http://www.brandonfredrickson.com/videos/smhrange.html and urged caution, potentially saving you thousands of dollars. My blog, and everything else, at www.brandonfredrickson.com is 100% free of charge. Please do yourself a favor and use the site to increase your bottom line. Additionally if you sign up for the Email list you will get two free educational reports. ----- Following the weak US Jobs numbers and continued higher prices on Oil on Friday the US Equities markets sold off sharply. The DOW lost nearly 100 points, the S&P500 lost 8 points and the Nasdaq Composite lost 26 points. The good news for the bulls is that this occured on about 10% lighter volume than we had the day before. Of course it was a summer friday, and anyone who has been in the market a few years knows that often means lack of participation after lunch anyway. Here is how I am going to play it. I'm going to try to stay an optomist, but I'm not sure I will be able to do so for too long. The S&P is forming a weekly head and shoulders pattern, the DOW Is just weak and the Nasdaq is very extended. All of them are simply in the middle of a trading range that goes back several years, not to mention what happned in 2000. Also thoughout the course of last week I continued to watch the trains for the circus pull into town. I have this rule that when the circus comes I unload peanuts. It's worked well in the past and I expect it will in the future. Casino stocks started to breakout and do well early led by the news that Steve Wynn is doing a good job of moving money from the hands of greedy fools to the hands of even greedier, but smarter, corporations in Vegas. You know what they say about a fool and his money though, and its as true in Vegas as it is on Wall Street and as it will be on Main Street, but I don't want to get death threats like I did in March of 2000 so I'm just going to leave housing alone for the time being. Just be careful there, nothing is "easy" for long. This week is going to be important. Intel has its mid quarter update on THURSDAY. Personally I think there is no way in hell they can say anything that is going to please the expectations that Wall Street has built up in the price of that stock since late April, but I could be wrong. I will say that if INTC disapoints, and again I don't see how they can't given the run up they have had, the range is going to continue to hold. However, if they suprise Wall Street and do even better than expected it would certainly go a long ways to getting us out of this range and bringing in further upside. Don't hold your breath, but DONT be committing capital to a gamble ahed of it either. Go support the gaming stocks for that! Brandon Fredrickson
INTC will be the big dog this week. As I have been harping on and on about here on the Blog and in my video's I think Wall Street has built in an expection for this update that INTC is NOT going to be able to live up too. Currently I am FLAT all longs, though we did quiet well with the ones we had. Feel free to review the logs and see for yourself some of the great winners presented here, stocks like GOOG from 230, LCAV from 39 and many others. Right now I am starting to short, currently I have AAPL and DD. I will have INTC BEFORE its update. Brandon
http://www.marketwatch.com/news/story.asp?guid={998FA093-DF5D-4362-A411-E07DBCBB6506}&siteid=mktw Depending on how well this is known, you may be able to get it it higher.
I would assume INTC will gap up in the morning on this news. Depending on how it holds that gap, the shorting opty will likely occur tomorrow. Sucks for me that I will be gone most of the day but I do have minions..lucky break Brandon