Stopped out of Varian Medical (VAR) for a 3.7% loss. Hate that.
Month: April 2009
Sidebar On my ride back from the gym I spied the sheep dog. He is owned by one of the golf club’s groundsmen. They have been a team since we move here, almost six years ago. I don’t know either of their names but I …
Mid-morning update
Shorts are emboldened here as the morning climb subsides. The feeling we have come too far, too fast is creeping in. Dow, for example, and one of my large positions, is up, gratefully, almost 20%—today. Added to IBM and established positions in SPAR, CBI and …
Copper
Copper is screaming as it, once again, forecasts improved economies. Copper is a relatively small markert, compared to equities and/or bonds, so as everyone crowds-in the price fluctuations can be severe. Best equity vehicles remain Freeport-McMoran, (FCX) (I own the convert preferred (FCXprM) as well …
Weakening
Futures just before the opening are falling back a little as overnight profits are booked. I’d like to hold off bold purchases until the morning froth subsides.
All-in?
The Markets Overnight markets soared on the prospect of recovery. The month is up about 9 1/2%, the best monthly performance since 2000. Technicians are slobbering over themselves as they target a further rise to S&P 1000 (closed at 873) and beyond. Conflicting earnings reports …
Late Night
Asia up huge. Tokyo currently up 4% while Taiwan is up an astounding 6.7%. If this keeps up we will have a legitimate bull market. OMG, did I say that?
It’s a Melt-Up!
The Markets Traders ignored the lower than expected 1Q GDP number of -6.1% and bid ’em up. Although the Fed, in their press release, did not alter already rock-bottom rates they did suggest that things seem to be easing. That was enough for yet another …
Payday
I am taking a little off the table. I have a few runners and have placed stops a couple of points underneath last sale. I want to lock-in here as the market become over bought.
The Markets As flu fear subsides the futures rally. A higher opening is indicated. As noted here many times over the last few weeks, this market shows tendencies to accept higher levels of risk. That is seen in higher and stronger closes, sideways action in …