The Surf Report--part 2

Hey, leave me out of this. I just like to play my ukulele, and occasionally predict (correctly) the market's move. That's it.
Although I am not sure what "reputable firm" Surf refers to, because I don't think a personal account can be called like that.

Anyhow, I was right (again) when I advised him to double down, we sure enough closed that "news gap", juts like after Saddam's capture.

So why don't we just let him post his trades with occasional criticism and help?

 

The account was listed in the name of a firm, not my name

But, that's in the past.

Nice analysis comparing saddam with Osama. You nailed it.

Surf

 

http://www.elitetrader.com/vb/showt...=113413&perpage=30&highlight=100&pagenumber=2

You mean like the 132 ES points you were down on this one?

 

it's a rotten world

 

Some thoughts on APPLE--- pre edit


Will Apple Take Over The World?


Once thought of as the quirky little computer company for design geeks and anti-Windows dorks, Apple (Nasdaq:AAPL) has taken center stage as the world's second most valuable company. This is quite an impressive accomplishment for a company started in a garage by a couple of acid popping technology freaks. Apples tentacles reach deep into the culture. No longer resigned to the backwaters of advertising, marketing and art firms, Apple's products have become the go to items for consumers as well as many businesses. I hated Apple for years, but after trying the original iPhone upon its release, the hate was turned to love and this diehard Microsoft PC supporter now owns and uses on a daily basis both the iPhone and the iPad. In fact, it's difficult to imagine life without these extraordinarily well designed tools.

Apple's rise to the top has been fast and furious. Jump started by the perfected touch screen of the iPhone, the company climbed from practical irrelevance in 1997 to reporting an astounding net income of $5.99 billion for its last quarter. This income places Apple second, only to Exxon Mobile (NYSE:XOM), as the most valuable company on earth. Apples number is double same time last year and was lifted by a record shipment of 18.65 million iPhones over the quarter. The new iPad2 has been met with such phenomenal popularity that Apple is unable to keep up with the overflowing demand.

There have been a slew of pad computer products attempting to challenge Apples extensive marketplace lead. Perhaps the most anticipated was Research In Motion's(Nasdaq:RIMM) PlayBook. Needless to say, the launch of this supposed iPad killer fell flat on its face. Ripped to shreds by both critics and disappointed end users, the PlayBook will have a difficult time surviving let alone capturing a significant market share away from Apple. Last week, RIM warned that income, revenue and unit sales will be below estimates sending the stock skidding lower.

The iPhone has made Apple the largest phone maker in the world by revenue, surpassing even the mighty Nokia (NYSE:NOK) last quarter. It will be interesting to see if the momentum continues for this juggernaut of a company. If it does, Apple just may take over the world.

 

The ES short position is showing 4.50 points of profit at this time.

Still anticipating a nice breakdown of support in the SP 500.

Holding ES short into the open.

surf

 

We have reached the SMA 9 on the daily, I think we will bounce from here. I would close the shorts and reshort the bounce when we make a 2nd top.

Counting the Sunday night high 1373 ES top (that is about 1377 SPX) we reached the area what I mentioned earlier....

That was a pretty good "guess" you have to admit. Sure there was a choice which top we count from, but still, not bad, not bad at all....

 

Continuing to hold ES short with profits. Will try to ride this wave as the tides turn. surf

 

I like Surf. Regardless of our disagreements about trading/Trend followers/Neiderhoffer....he is a stand up guy. He posts his trades real time and doesn't bullshit about entries/exits. His bravado is a bit much at times...