http://www.marketwatch.com/story/mo...facebook-furor-rises-2012-05-23?siteid=yhoof2 see folks its Morgan Stanley's fault that FB is dropping. I mean if I am having a bad week Maybe Warren Buffet can send me a billion to cover expenses. This country is FUBAR.
Still like that short gold trade. Wouldn't necessarily enter here though. Looking to see what happens here as it tests my yearly level. 146.89 in GLD. It bounced down here last week, but not looking so hot this week.
Guess there's still some hope for a bounce this week. Thought the market was going to be in for it when the weekly a ups didn't seemingly hold yesterday, and here we bounce in the weekly OR in the S&P. Guess the trend continues to be "we'll see," and "the next (day/week) will be important."
AAPL back above the weekly A up. It is so hard to get long this stock. Either the world is coming to an end or this stock goes vertical. You have to pick your poison. Here are my three tells. Bonds are my VIX. Throw the old VIX out the window. When bonds pop and roll over, that is vol getting crushed. Gold is your deflation tell. If they are selling Gold, they are betting on deflation and lower risk assets. AAPL is your spec money. AAPL is the FIRST thing everyone will buy when they want to buy risk. So again, AAPL, Bonds, Gold, those are my tells. Throw the spoos out the window. Absolutely useless to gauge anything from that.
Nice move in that LCC. Failed the monthly A down Friday/Monday, and plowed right through the monthly A up yesterday/today. Nice
Here's a link for a slow day like today, Jack Schwager has a new Market Wizards book out. Here is a podcast with Covel that was released a couple days ago. http://trendfollowing.libsyn.com/we...-trend-following-manifesto-with-michael-covel
some folks say it goes to par, let's hope so, won't be good for equities though. Good post on vol/bonds, thanks for that!