tag:blogger.com,1999:blog-6316718775650382192024-02-18T21:10:44.723-06:00Plush TraderA collegiate coach trying to make some money in the market.Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.comBlogger64125tag:blogger.com,1999:blog-631671877565038219.post-18875278041181191022012-07-16T13:54:00.001-05:002012-07-16T13:54:17.402-05:00Buy HOG 38 putsLong break from the blog and meaning to make some posts again. Trade today is buying HOG Aug 38 puts ahead of tomorrow's earnings report. Citigroup had a report out last week expecting sluggish sales and upside on the stock is very limited. Have seen a lot of interest on the August 38 puts the last few days, so looks like traders are taking hedges that earnings will see the stock drop. Getting into August puts for under .60, and could see an easy double/triple if earnings disappoint.Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com0tag:blogger.com,1999:blog-631671877565038219.post-44241652825144477792012-01-06T12:56:00.000-06:002012-01-06T12:56:32.001-06:00Prior post updateI added the wrong image type two days ago, so the chart has been auto updating each day (The stock closed at 17.40 on the day of posting)....this one is a jpg and will stay, but added at today's (Friday's) price. I think in the future I will add one jpg image to show the chart when I make a post, then the auto updating chart in the same post so we can track the movement side-by-side afterwards. Still learning on how to do all this the best way, but I think this will be a good way to look back and track performance of idea's as they come up.<br />
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So far the stock has performed as hoped. <br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgMJ4tt7GXc0tQFu-HTKAvxEEIkaAlanzdxLdayQkzfRygR1MEuzGQHsrSrk3pMS29X2DEplmpR98F4grPNz6aKMRhqe_Sx8oO63RWDxBGAzFgPIMRih-Dm9RPnF-JJxBF_NL2BEzVwFcA/s1600/trsa.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="310" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgMJ4tt7GXc0tQFu-HTKAvxEEIkaAlanzdxLdayQkzfRygR1MEuzGQHsrSrk3pMS29X2DEplmpR98F4grPNz6aKMRhqe_Sx8oO63RWDxBGAzFgPIMRih-Dm9RPnF-JJxBF_NL2BEzVwFcA/s640/trsa.jpg" width="640" /></a></div>Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com0tag:blogger.com,1999:blog-631671877565038219.post-42489198436073535472012-01-04T21:32:00.001-06:002012-01-06T12:54:22.720-06:00Trade Idea - TSRAQuiet last week but made some moves to closeout the 2011 trading year. Sold my short position in BID @ 28.20 (entry at 45.70) for a very nice profit. Picked up some TZA for insurance on the downside...now my only short plays are TZA and a small FAZ position. <br />
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Starting to get back into screening mode. One screen found a stock I'm pretty interested in: Tessera Technologies (TSRA). Holds over $10/share of cash on hand and ~100million free cash flow, insider transactions are up 25% this quarter. Sales growth has been 25% over the past 5 years. Looking at the chart it's at a critical point now...a breakdown here could stall the rally but a move to the $17.70 area would give it room to run on the upside. <br />
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I'll give my 2011 performance update in the next few days and aim to consistently keep posting new ideas now that the move is complete. Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com1tag:blogger.com,1999:blog-631671877565038219.post-69167532616279813272011-12-12T20:02:00.000-06:002011-12-12T20:02:58.105-06:00Unshortable OPENGot moved into my new place last weekend, and spend most of the week just trying to get situated around here. I looked at the market a few times, but only have internet access on campus...and since I don't have a internet at my new place yet, my researching time is extremely limited. <br />
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I attempted to get back into OPEN on the short side today, but after trying through 3 of my brokerage accounts, I couldn't find any shares to borrow. So now I feel pretty sad that i bought back my shares a few weeks back. I guess I'll have to find a new favorite stock that destined to go to 0. I'm going to keep trying each day though, because this stock is too bad to pass up.Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com0tag:blogger.com,1999:blog-631671877565038219.post-85588877904106192052011-11-30T00:37:00.000-06:002011-11-30T00:37:32.961-06:00Moving Day!In the process of moving, so trading has been on the way back burner lately. Loading up the U-haul and what seems like should take 30min has been about 3 hours! <div><br />
</div><div>Only changes to the portfolio- Closed short positions in OPEN and MGM last Wednesday. MGM closed at 9.30 (short at 10.70). And OPEN closed partially on accident. I had an existing GTC order still in play from earnings day that never hit, until last week. Covered at 33.05 (sold at 80.70!). Definitely my best short ever. Still think the stock is a joke, so I'll be looking to jump back in when it rallies to the 37-40 range. </div><div><br />
</div><div>Back to packing and getting ready to drive outta town tomorow. </div>Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com0tag:blogger.com,1999:blog-631671877565038219.post-90354724684394224972011-11-10T14:40:00.001-06:002011-11-10T14:43:45.774-06:00A few quick looksA few longs I'm looking at. #1 is Deckers (DECK). Good growth stock that has sold off a bid in the last couple days. Looks good for a quick rebound of 5% or so. <br />
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</div><div class="separator" style="clear: both; text-align: left;">Another stock I've been looking at could be changing it's trend...MTW It'll be key that it holds it current levels, and a rally from here could be a good indication that the downtrend is broken.</div><div class="separator" style="clear: both; text-align: left;"><br />
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</div><div class="separator" style="clear: both; text-align: left;">And look what's back from the dead. Long considered a great value stock, but the price action never showed it, is finally showing some life. Maybe it's time to pick up some to stash away. </div><div class="separator" style="clear: both; text-align: left;"><br />
</div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgyJAAC00aZdw6WBe1BvU5eAD9yHEFFfbPXTB1q1e4b85Vys8NeD0z3WXwdw84CoVQN-XQYjV8VkH4yxQu9QhEmRuhF6tx05GgEve4zVrKrl25UutbCfWGMhF44OU8Rw9KMQa70OuyDcKY/s1600/csco.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="310" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgyJAAC00aZdw6WBe1BvU5eAD9yHEFFfbPXTB1q1e4b85Vys8NeD0z3WXwdw84CoVQN-XQYjV8VkH4yxQu9QhEmRuhF6tx05GgEve4zVrKrl25UutbCfWGMhF44OU8Rw9KMQa70OuyDcKY/s640/csco.jpg" width="640" /></a></div><div class="separator" style="clear: both; text-align: left;"><br />
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</div>Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com0tag:blogger.com,1999:blog-631671877565038219.post-75685665232452150852011-11-01T21:13:00.000-05:002011-11-01T21:13:02.076-05:00Gambling sometimes pays off!Again, plan on posting more as earnings wind down and i'm getting back into the swing of things now with the market. Conference Championships were this weekend and it was a great weekend. The men ran solid and finished where predicted, and with a team loaded with 6 freshman, that's sometimes all you can ask for. The women pulled out the victory for the first conference title in 22 years! <br />
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Anyways, my big short so far this year has been OpenTable (OPEN). A once darling momentum stock that really, doesn't has a business model that is immune to fierce competition. I shorted the stock back in the summer at 80.70, and after a brief move to almost 90, it's been in a free-fall since. It touched under 40 before the October rally took it back to the 51+ area just 5 days ago. It's deteriorated the last week and was trading at 43 today. <br />
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I was going to take the rational, safe, and smart route of cover the short today prior to earnings being released after the bell. But, I held off after looking at the chart and figuring that at most it would rally $5-6 on a great report. This is where my gambling and trading mentality collided. I was taking a 50/50 bet that the stock either rally hard or sell off. Although good odds, I would never walk up to a roulette table in Vegas and throw down that kind of money on red or black and hope for the best...but that's what I did today. My only real rational was I was already "up" by 37pts., so I could afford a loss of 5 to let it ride. But I shouldn't have considered at all where the stock came from, but where it was now---I would never buy a stock going into earnings with the chance to loss that much on one announcement, but my today I broke that rule. <br />
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Well after getting home from practice and checking the press release and after hours trades, the stock is down almost 15% after hours (~$6.40). The feeling was like I hit my number playing craps on got paid. A great feeling, but really it's not how I should be going about my trades. But you know what? Today, it feels great to be a gambler...and maybe I'll just close out the trade tomorrow and buy a iPad with my winnings!Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com0tag:blogger.com,1999:blog-631671877565038219.post-77966276749529639572011-10-26T12:47:00.000-05:002011-10-26T12:47:49.141-05:00Still hereStill, busy with coaching/recruiting/looking at moving logistics. Mostly sitting on the sidelines waiting for earnings season to blow through without getting hammered. <br />
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NFLX. Crazy. That's why you don't make major changes. Again, I know it was unsustainable, but adding $1-2/month now would have kept most of the subscribers, and they could have slowly bled the price up and they wouldn't be in the mess they are now.<br />
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Opened a small short position in MGM yesterday at 10.70 right at the close. This is the high end of it's short term range and in a longer term down trend. Should be easy to get out in the 10-10.20 range, and lower if this market turns around. LVS reports earnings on tomorrow that could make some noise, and MGM reports next week. <br />
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Amazon is down sharply today after earnings. I think this is an interesting case: The stock is getting hammered, but most of the news out there are defending the company and it's long term outlook because of costs it's incurring now. Is this a smart time to pick up shares, or stay away because all the analysts are trying to keep it propped up to sell out? <br />
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So, like most traders, I'm just waiting for the "EU to be saved" announcedment and subsequent move. Out of boredom I've played with FSLR today making some pocket change on a couple day trades. Might have to enter another short here at 47.30...Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com1tag:blogger.com,1999:blog-631671877565038219.post-23176490653068066972011-10-18T23:11:00.000-05:002011-10-18T23:11:26.205-05:00Tuesday Late Night ThoughtsAgain, busy with all things but the market. But with these conditions, it's not the worst thing in the world. It seems like I've been putting more time into selling crap on Ebay than dealing with the market. A few thoughts:<br />
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Looking at Gold and the GLD....I think it's in no mans land right now and could shoot up or down really quick from these levels. So it's more of a daytrade or couple day trade at the most (but most things are these days!)<br />
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CROX reported earnings and forecasted below analyst expectations. This stock has been on a tear since it's peak in '07. The gap down today was a tempting entry to take a short, but since I've been out of the swing of things lately, I decided to wait and see what tomorrow brings. It could be a 5% recovery up, or another swing lower. I'm not ready to gamble yet, but I think in the near term, this thing will push towards $12.<br />
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Apple reported after the close today and missed estimates...which hasn't happened 3 years now. Traded down 6% after hours. With the step down and death of Steve Jobs, this is the last thing this company wanted to show it would go on fine without him. Also, for the broader market, it's not good when a leader trips up.<br />
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Technical are looking stronger for a new move out of this trading range to the upside, but I'll wait and see. The 14% move over the past 2 weeks before yesterday was too quick for me...especially for individual sectors like energy that rallied even harder. Wait and see.....<br />
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It's a daytraders market and I don't have the time for that right now, so i'm alright just sitting on my positions. I'll bring more interesting stuff later, but for now, it's time to get ready for an early morning practice tomorrow...with rain expected and temps around 40 degrees at practice time. Ugh. Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com0tag:blogger.com,1999:blog-631671877565038219.post-68111875155675479032011-10-14T01:20:00.000-05:002011-10-14T01:20:00.468-05:00Trading UpdateIt has been a busy week outside of the trading world for me, which accounts for the lack of posts. I had an interview in the twin cities on Monday and just got back in Illinois in time for practice on Wednesday. Followed that up with one of my best workouts in a long time (2mile @ 9:59, 2min rest, 3xmile @ 4:59, 5:01, 4:59 w/ 1:30 rest)...and it felt pretty easy. I'm getting back into pretty good shape now. We'll see how a 5k goes Saturday morning. <br />
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<b>Trade idea's</b>...well, just checking the market has been a struggle. I know that OPEN and BID have rallied pretty well with this market, but I'm still committed to another leg down. There was a good chart posted on <a href="http://slopeofhope.com/2011/10/quintet-and-commentary.html#more">SlopeofHope</a> today that mentioned BID. My last move was on Friday when I closed my FSL short for $10.70...making a whopping 0.37/share on that trade.....but the move was as a protection from what ended up happening...the stock up to 12.51 after today's 7.8% gain. So as of now, that trade may have made no money, but it's one of the one's I feel best about this month (assuming it doesn't go bankrupt in the next few days).<br />
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Stocks of interest to me right now. On the short side: <b>MGM</b>. Missed the last leg down, but it's setting up for another good fall to the $8 range. <br />
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</div><div class="separator" style="clear: both; text-align: left;">....heck, I could find a ton of great short opportunities after the rally we've had the past week. J<b>ust about every garbage company has taken off</b> and with any market weakness will get hammered again (same goes for Energy and Financial stocks)</div><div class="separator" style="clear: both; text-align: left;"><br />
</div><div class="separator" style="clear: both; text-align: left;">I wouldn't trade anything on the long side right now until we get some sort of consolidation or sideways movement to work off the short term overbought market conditions. <b>NKE</b> is looking great though, and a move back to challenge it's 52wk high of $94.2x looks likely. The next few days will be really focusing on getting back into the charting/research to get ready for the upcoming earnings season.</div><div class="separator" style="clear: both; text-align: left;"><br />
</div><div class="separator" style="clear: both; text-align: left;">Tomorrow we have a meet in the afternoon, and I plan to get my run in the morning, so I may miss most of the day, but that's probably been a good thing this week...with my short bias right now, It prevented me from possibly making some losing trades. So, just a post to show that I'm alive...and tonight, another <b><span class="Apple-style-span" style="font-size: x-large;">BREWERS WIN!!!!!</span></b></div><div class="separator" style="clear: both; text-align: left;"><b>And for that...a revisit to one of <a href="http://www.youtube.com/watch?v=8eGN9gbscyQ&feature=related">Niger Morgan's best interviews</a> of the year<span class="Apple-style-span" style="font-size: large;">.</span></b></div>Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com0tag:blogger.com,1999:blog-631671877565038219.post-82197953809447389772011-10-07T23:41:00.002-05:002011-10-07T23:58:25.919-05:00Brewers Win!!!!!<b>Niger Morgan</b> aka <b>Tony Plush</b> aka <b>Tony Hush</b> aka Tony Gumble aka <b>Tony Cluch</b> comes through for the win! Brewers....Badgers.....Packers...it's great being a Wisco Fan!<br />
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</div><object height="254" width="400"><param name="movie" value="http://mlb.mlb.com//shared/flash/video/share/ObjectEmbedFrame.swf?width=400&height=254&content_id=19860835&property=mlb" /><param name="allowFullScreen" value="true" /><param name="allowscriptaccess" value="always" /><param name="scale" value="noscale" /><param name="salign" value="tl" /><embed src="http://mlb.mlb.com//shared/flash/video/share/ObjectEmbedFrame.swf?width=400&height=254&content_id=19860835&property=mlb" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" window="transparent" width="400" height="254" scale="noscale" salign ="tl" /> </object><br />
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Gotta love the Uecker calls!<br />
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<a href="http://mlb.mlb.com/video/play.jsp?content_id=19860879&topic_id=&c_id=mil&tcid=vpp_copy_19860879&v=3">The 10th inning --Gomez and T-Plush for the win!</a><br />
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<a href="http://mlb.mlb.com/video/play.jsp?content_id=19861421&topic_id=&c_id=mil&tcid=vpp_copy_19861421&v=3">Brewers Clinching Hit!</a>Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com1tag:blogger.com,1999:blog-631671877565038219.post-75035537597052766172011-10-04T23:10:00.000-05:002011-10-04T23:10:10.061-05:00Turnaround Tuesday RallyToday was a frustrating day. Things were looking pretty through the first 5.5 hours of the trading day. BID had hit a new low (but had rebounded), OPEN was tanking more, FAZ was up to 79, and while AAPL and my longs I hold were down, I was overall profiting on the day...and I was happy to see GRMN up amid all the red. The frustrating came with an hour to go into trading. I was getting bored watching FSL, so I put in an order at the bid, that never hit. I moved it up a couple times, it never hit. I put in a buy for NKE at 82.90, after already being lazy and missing the rally from lower prices earlier in the day, i entered a trade...just then, the stock started up jumping up. I didn't wan to chase, but at 83.55 I made another attempt, and missed again, then watched it in horror move to a high of $85.90. Entering that trade 30 sec. sooner I would have picked it up, and instead i missed out on a potential $3 gain. To top that off, before leaving for practice, I entered a smaller buy for $84.30 that didn't hit, but yahoo after hours quote shows the last sale at $84.27...so why don't I have any shares???? Some days this day can piss you off...this after I missed out on getting WYNN by a few cents after hours yesterday at $109.50...and watching it close over $118 today. Put it into the shoulda, coulda, category of almost great-timed trades. <br />
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Enough of the whining. Reading the news and bloggers...obviously nobody knows anything...except that any whisper of a bailout is going to rally the market...whether it will really help or not in the long term, is irrelevant. For trades, I feel like I missed the best prices for WYNN and NKE, GLD is in no-mans land and I would buy if it goes a few points lower. Not interested in buying energy stocks at all. <br />
<br />
SHLD might be a short candidate. I'm worried about the talk of the real estate leasing of the stores, but with the economy as it is, it's not the same play it would have been 6-7 years ago, and price spikes like today get punished. <br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiAKmC1eqzMnYrn3Q8rczii8bGbzbv9u2hQ1TjcOTeu1rlD-Xq95wS6SiFaDf_OL7wADhYpviHcSkDtjj8bESQFUq0rQoHaJzuKKU9xHFMH-eh4sYC9bswwXm8qmaXYcbsdDs3Qnjm9ClM/s1600/shld.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="310" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiAKmC1eqzMnYrn3Q8rczii8bGbzbv9u2hQ1TjcOTeu1rlD-Xq95wS6SiFaDf_OL7wADhYpviHcSkDtjj8bESQFUq0rQoHaJzuKKU9xHFMH-eh4sYC9bswwXm8qmaXYcbsdDs3Qnjm9ClM/s640/shld.jpg" width="640" /></a></div><div class="separator" style="clear: both; text-align: center;"><br />
</div><div class="separator" style="clear: both; text-align: left;">Really, if I have the time tomorrow between the couple people I've got coming in for workouts, and lunch with a few other coaches in the area, I'm looking at going after the TNA/TZA daytrade route. The movement is so fast, money is ready to be made. Though since this market is so unpredictable, I may just start by buying a 100 shares of each, then selling the one after it rallies, and *hope* the market reverses for a bit from there (or sell one quickly and let the other roll). It might be stupid play, but I want to try something new to scalp some money from this fast moving market.</div><div class="separator" style="clear: both; text-align: left;"><br />
</div><div class="separator" style="clear: both; text-align: left;">So right now, the stocks I'm looking for opportunities to buy: NKE, WYNN, MCD, UA, FFIV, POT, and FSLR is starting to look attractive for a short term trade for a bounce.</div><div class="separator" style="clear: both; text-align: left;"><br />
</div><div class="separator" style="clear: both; text-align: left;">There are not many stocks I'm looking to short. Besides SHLD, I'm planning to close my FSL soon (still a doomed company, but I think I'll have a better chance to get back in), and OPEN and BID are in that same category. I'll trade FAZ more for the financials, but that's still playing with fire at this point. I can't locate shares for P and LNKD, and the options play just hasn't materialized. I'm still looking at charts for more, but really, this is a day traders market, so it's all about what garbage headline influences the day. </div>Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com0tag:blogger.com,1999:blog-631671877565038219.post-74145354290795936952011-10-03T22:07:00.001-05:002011-10-03T22:11:23.140-05:00Badgers vs. NebraskaIf you've never been to a Wisconsin game, you're missing out, from the Wisco vs. Nebraska game this weekend:<br />
<br />
<a href="http://youtu.be/veHQMaxiOmg">Jump around in full HD</a>: <br />
<br />
<a href="http://youtu.be/gnYCdKDI5hk">Build me up Buttercup </a><br />
<br />
<iframe allowfullscreen="" frameborder="0" height="315" src="http://www.youtube.com/embed/EC-MumVCx7k" width="560"></iframe>Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com0tag:blogger.com,1999:blog-631671877565038219.post-26904878891109574562011-09-29T23:56:00.000-05:002011-09-29T23:56:18.144-05:00Week update and taking off for the weekendThis week has shown no clear direction and no real reason to take any positions long or short. I did sell my FAS position today for a loss, and i'm not real happy about that trade overall. I rushed into it with the expectation that the market would rally the rest of the day, but the market crumbled and instead of getting out, I held through the close. On top of that, although tomorrow could go either direction depending on the Euro news of the day, I should have held since end of quarter window dressing for fund managers should keep stocks up through tomorrow. I'm not so pissed about the loss of cash, but the timing was not the best. <br />
<br />
Looking for buys, I'm intrigued with WYNN and LVS. Even with the issues in Japan, just like the EU, these stocks are going to bounce one day to the next depending on the news out that day. WYNN might be a stock I pick up if I have a few minutes in the morning and it drops a bit more. Also, seeing NKE down another buck or two would be nice, but the tides seem to be changing with AAPL and the other strong players in this market slipping over the last few days. <br />
<br />
Tomorrow will be a no-trade day for me. Team leaving tomorrow morning for a meet on Saturday, so I should see the open, but that's about it. <br />
<br />
One final note...don't always believe those charts...even a <a href="http://www.minyanville.com/businessmarkets/articles/chart-of-the-day-technical-analysis/9/26/2011/id/37061?camp=syndication&medium=portals&from=yahoo">bullish reversal in FSLR</a> a few days ago couldn't save the stock from a huge drop in the ensuing days. <br />
<br />
If I don't post before the weekend, big sports weekend. I can't remember the time when all my favorite sports teams were so phenomenal...all at once! But the two biggies...UW vs. Nebraska & Brew Crew vs. Arizona. Combine that with our races...come Sunday night I'm going to be exhausted. <br />
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</span></b><br />
<b><span class="Apple-style-span" style="font-size: large;">Go Badgers & Brewers! (and Packers & Bills!)</span></b>Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com0tag:blogger.com,1999:blog-631671877565038219.post-74423548068845702512011-09-27T13:26:00.000-05:002011-09-27T13:26:07.433-05:00A few quick notes, NFLX, P, OPEN, and FAS buyWith the run up the last couple days, things are looking primed again to short...but not yet. Europe is "maybe" going to be bailed out..big surprise. I think the rally continues today for the rest of the day and we end up even higher, so i'm looking at a few ETF's to play long and make a little money that. On the short side, I'm looking at stocks like MGM (a safer short) and P (up 20% the last couple days).<br />
<br />
On Friday i <b>got in and out of GLD, and sold of 60% of my FAZ position</b> (which was timely, but wish I would have sold it all now!). I also had a order in to close my BID short, but it just missed by a few cents, and yesterday I didn't go through with closing it out. <b>Today I just bought shares of FAS</b> to play this rally day and hedge against my FAZ, with the plan to get out by the end of the day. I think the S&P will get over 1200 (at 1193 now) and maybe hit 1205 before the close. <br />
<br />
A stock that may find some momentum again, Sears Holding has put up advertising for <a href="http://blogs.barrons.com/stockstowatchtoday/2011/09/27/sears-jumps-is-eddie-lampert-turning-it-into-a-real-estate-company/?mod=yahoobarrons">leasing most of it's Sears and Kmart stores</a>, making it more of a real estate play. This was the big talk a few years back when he took over the company, and nothing came of it, but with the stock down from the 200 level, it may finally be coming true. Watch this one swing a lot near term and wouldn't be surprised to see a 3-4 day rally of the stock.<br />
<br />
A few reads:<br />
The insiders have <a href="http://www.marketwatch.com/story/why-the-insiders-have-quit-buying-stocks-2011-09-21">quit buying stocks</a><br />
But, here are <a href="http://seekingalpha.com/article/294752-29-stocks-insiders-and-hedge-funds-are-crazy-about">29 stock insiders and hedge funds are buying!</a><br />
<a href="http://www.gurufocus.com/news/145896/whitney-tilson-on-netflixs-fiasco">Whitney Tilson on the Netflix Fiasco</a><br />
<a href="http://www.pittsburghlive.com/x/pittsburghtrib/business/columnists/dorfman/s_757625.html#ixzz1YWvj3MwQ">John Dorfman buys/sells of the biggest 20 stocks</a><br />
<a href="http://247wallst.com/2011/09/19/companies-where-employees-should-lose-hope/">Companies that employees are losing hope</a><br />
<a href="http://www.usatoday.com/money/companies/management/story/2011-09-26/berkshire-buyback/50554228/1?csp=34money&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+UsatodaycomMoney-TopStories+%28Money+-+Top+Stories%29&utm_content=My+Yahoo">A first-Warren Buffet to buy back shares</a><br />
<br />
Last night looking at NFLX i was hoping to see it drop down to the 128 level for a buy and play the bounce, but with it down on today's big move, I don't feel like the risk is worth it today. OPEN is one of my shorts that i've been holding on tightly, and while it's gotten back up to 50 today, I still like the chart:<br />
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<img src="http://finviz.com/chart.ashx?t=OPEN&ta=1&ty=c&p=d&s=l" />Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com0tag:blogger.com,1999:blog-631671877565038219.post-2047609017162749972011-09-23T12:10:00.000-05:002011-09-23T12:10:12.301-05:00Buying GoldJust picked up GLD at 159.35. Definitely a risky play with the sell off today, but I like these deep sell-offs for a quick flip. If the economy is going to the pits, GLD will be bought up again, and it finally hit an area I was looking for when I posted the chart a couple weeks ago. Here's the current chart, not real time so this is before it sold off even more. <br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgqcHn0uKZMKFoFZlgMya_OIitofXlmBwBCWLvYeS9MdwDGI8kiZz-CxnlSV4lO88y4l_7mOYDkm7gbkpflhCBUk7wTKlMk_jRCGrZ-t1tcDbuqwDb04Ic8HNLR53fjtze298HwjOWaISg/s1600/gld.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="310" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgqcHn0uKZMKFoFZlgMya_OIitofXlmBwBCWLvYeS9MdwDGI8kiZz-CxnlSV4lO88y4l_7mOYDkm7gbkpflhCBUk7wTKlMk_jRCGrZ-t1tcDbuqwDb04Ic8HNLR53fjtze298HwjOWaISg/s640/gld.jpg" width="640" /></a></div>Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com1tag:blogger.com,1999:blog-631671877565038219.post-64884439866580180402011-09-22T13:47:00.001-05:002011-09-22T13:55:57.281-05:00Post Fed-day Fall OffWell, today I woke up and saw exactly what I wanted to see with my portfolio....a lot of green, due to all the red on the screen. BID, OPEN, and FAZ are huge gains for me today, and although I am kicking myself for not getting out of NOV in my long term portfolio yesterday, it could have always turned out differently. Because the prospects of economic slowdown are going to kill anything energy related, and while it's been a great performer this year, NOV could go down to the 40 range pretty quick as oil drops. But long term I still like this stock alot along with HAL and SLB<br />
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There are some good looking prices out there, but I'm not interested in buying anything today. I might try a daytrade to pick up some change, but this could get really ugly going into the close and tomorrow as people bail to feel comfortable going into the weekend. <br />
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Patience is really being rewarded with OPEN and BID right now. OPEN chart is just plain ugly (now at 44.27). With my short initiated at $80.70 in mid-June (and sweating a little as after an initial drop, it rode up to $90), it's only a few points away from a 50% gain. Not really sure where to exit here...it's breaking the bottom part of it's down trend line, so technically, it could just be getting started...but but it does break $40 in the next few days, I'll definati<br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg4ja55QQ5P4QwZ2zZjFOdaqLW-8ZuX6MdzS5TaBPKGBXrP6Z3bBYjdE3i3jnWbCAk0yHwunFJQIJxaDkiA-EJDeIAUU1-dQyTK2U_0eEAw0Kxuxy_uftN2d8aESnxPcKG9YaoF5OFZ49A/s1600/open.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="310" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg4ja55QQ5P4QwZ2zZjFOdaqLW-8ZuX6MdzS5TaBPKGBXrP6Z3bBYjdE3i3jnWbCAk0yHwunFJQIJxaDkiA-EJDeIAUU1-dQyTK2U_0eEAw0Kxuxy_uftN2d8aESnxPcKG9YaoF5OFZ49A/s640/open.jpg" width="640" /></a></div><br />
FAZ is breaking out, and anther one i was sweating when I increased my position 2 weeks ago, and if it can get above that 73 area, it looks like 80 is well within reach:<br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgnSq8wqBHCVv6WuUaw12SveFrIyLZ9aUslXA4SARErPOnofC26tsWywUD3hSX8cJP3mEa7w7hMB9gVN9jT4Ss39TIl1uHUBvtH9o-bkCE9nrrLeTxI0zthxDA4dXA-7hatVn51SPMpvqo/s1600/faz.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="310" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgnSq8wqBHCVv6WuUaw12SveFrIyLZ9aUslXA4SARErPOnofC26tsWywUD3hSX8cJP3mEa7w7hMB9gVN9jT4Ss39TIl1uHUBvtH9o-bkCE9nrrLeTxI0zthxDA4dXA-7hatVn51SPMpvqo/s640/faz.jpg" width="640" /></a></div><div class="separator" style="clear: both; text-align: center;"><br />
</div><div class="separator" style="clear: both; text-align: left;">For safety, the LQD is still a great pickup for the long term portfolio, 4.5% dividend and moving up with any weakness in stocks:</div><div class="separator" style="clear: both; text-align: left;"><br />
</div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhmKuv0F1AZdJFQyPSXI_yXb3LiZjGba8qBP4RHAy1dmR021qK-SnxOaa2XIfPKBhyphenhyphen-wixFRVk2sUKIbzP0mHIsqAzMawhcQvGvwLaYnotwUil9ia5UGL5dVu4YSEqLc2vpgCwRA5lMRCQ/s1600/lqd.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="310" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhmKuv0F1AZdJFQyPSXI_yXb3LiZjGba8qBP4RHAy1dmR021qK-SnxOaa2XIfPKBhyphenhyphen-wixFRVk2sUKIbzP0mHIsqAzMawhcQvGvwLaYnotwUil9ia5UGL5dVu4YSEqLc2vpgCwRA5lMRCQ/s640/lqd.jpg" width="640" /></a></div><div class="separator" style="clear: both; text-align: left;"><br />
</div>For the daytrade route, I'm starting to look at TNH again. This was my missed opportunity as it zoomed from 120 to almost 200, and has fallen off a cliff in the last couple days. Didn't even see it in the 120's this morning, but has rebounded solidly, and just during this post it's gone from negative to up $4. Ride this one with caution:<br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjuT4X4TxFA739kFLoeEtFee14S0-jGwh2oOXVR_jjY01GE6M64Ttaylz1KJX_NoDP37qWlmfvA68gg_0tm-mlhkVqbazM9aGEXsoS6MRk_NJUB9RFj7ld-xAVF6-uCgo26ejlFZOreOjw/s1600/tnh.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="310" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjuT4X4TxFA739kFLoeEtFee14S0-jGwh2oOXVR_jjY01GE6M64Ttaylz1KJX_NoDP37qWlmfvA68gg_0tm-mlhkVqbazM9aGEXsoS6MRk_NJUB9RFj7ld-xAVF6-uCgo26ejlFZOreOjw/s640/tnh.jpg" width="640" /></a></div><br />
And finally, while the chart looks ugly, BIDU is really getting punished today down a ridiculous 12%. Though I'd wait until right before the close to make any buys, this would be on the top of the list (right along with <b>NFLX</b>..it's holding up today after the rough week...I could easily see a $10-15 bounce back before any larger move lower is made).<br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFemEOmxkRxDBr6aq4ugopBp3dhPMjsFgRWa_hDfdB-BjXk1xP7tTTTUc2JCM5DlB_AGyKEDy1y6TNWyGLPGqN2JJKZBZWRb_9H-9rL-tpKoSoa1eVZLxbIog4XBAyX45RLJhrGYN_TIk/s1600/BIDU.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="310" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFemEOmxkRxDBr6aq4ugopBp3dhPMjsFgRWa_hDfdB-BjXk1xP7tTTTUc2JCM5DlB_AGyKEDy1y6TNWyGLPGqN2JJKZBZWRb_9H-9rL-tpKoSoa1eVZLxbIog4XBAyX45RLJhrGYN_TIk/s640/BIDU.jpg" width="640" /></a></div><br />
I have to marvel on days like today...where my long term holdings are getting hurt, but my trading account is taking off, so it's a mixed bag of feelings looking at the market. I never really shorted stocks until this year, and now I'm almost preferring it as opposed to buying. It seems like when things are bad, you make a lot of money in a hurry...much faster than when it's going up. So day's like today it's nice to sit back and watch the account values rise when it could be a day of panic.<br />
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For more short idea's, I would check out the list of today's <a href="http://finviz.com/screener.ashx?v=340&s=ta_toplosers">top losers</a> and those<a href="http://finviz.com/screener.ashx?v=340&s=ta_newlow"> hitting new all time lows</a>Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com2tag:blogger.com,1999:blog-631671877565038219.post-77032424304663540512011-09-20T22:54:00.000-05:002011-09-20T22:54:36.349-05:00Fed Day AnnouncementPretty straight forward. Tomorrow's fed announcement <i>should</i> move the market one way or another. Fed day usually results in a spike reaction from the announcement, then a reversal of that move. Now everyone knows that, so when will it finally NOT hold true?<br />
<br />
Reading other traders and many were lightening up positions heading into Wednesday to not get caught on the wrong side of a major move. I was going to do the same, but I wanted to see how tomorrow looked before the announcement, and I stuck with my short positions for 2 reasons:<br />
<br />
1. My long term accounts are all invested in companies for long term growth...so my trading accounts are a hedge of protection for that.<br />
2. I'm comfortable with my shorts anyway. Thinking about it now, closing out my FAZ position would be smart, and I almost closed my BID order today but then the market started selling off and figured another night to think about it would hurt. And finally, no matter the Fed announcement tomorrow, OPEN is doomed, so why get out now.<br />
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I never did get that Pandora short yesterday...i couldn't find shares from any of my brokers to short, and I just didn't feel comfortable going at it with options with the upcoming announcement. Be ready for a ride (maybe).<br />
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And I'm somewhat hoping for no action..lets rip the band-aid off and just deal with the short term consequences...it'll keep us from delaying the inevitable.<br />
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<a href="http://www.marketwatch.com/story/gop-warns-fed-more-easing-would-hurt-economy-2011-09-20?dist=afterbell">GOP warns more easing may hurt the economy</a>Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com0tag:blogger.com,1999:blog-631671877565038219.post-37795466739175935312011-09-19T12:49:00.001-05:002011-09-19T13:24:13.333-05:00The week ahead, Sept. 19th, Pandora & NetflixMarkets are down through Mid-day today, and after last week's great move up, it shouldn't come as a total shock. The question now comes does it give all (and more) back this week, or is this just a pause and the rebuilding continues? My outlook for the week is to see today hold and tomorrow spend more time in the red (whether that means an open up and fall during the day, or open lower). After that it's more of a guess than what I just made. Either way, in today's action you there are a few standouts bucking the trend...AAPL, CMG, and WYNN are some of my long favorites doing well. <br />
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Pandora is up 5% with only some rumored hope that Google or Sirius will buy them up. I think that talk is premature because any company knows that the overall business model is weak and they'll be able to buy them up in the next year for a cheaper cost. Also, they have competition from <a href="http://venturebeat.com/2011/07/14/spotify-launches-in-u-s-users-can-wait-for-invite-or-pay-to-get-inside/">Spotify which just launched in the US in Jul</a>y, and <a href="http://seekingalpha.com/article/294368-apple-s-itunes-genius-plus-icloud-could-make-pandora-worthless">Apple's iTunes Genius</a>. Who wants to go against Apple these days? Besides, if they sold now they would have to secure a large premium to the current stock price...I would guess at least $20-25/share to clear the $16 IPO offering to calm an investor outrage and a heavy class action lawsuit against the company for coming public sell out below the IPO price. Buy waiting another year investors would still be pissed, but they could blame the competition and market conditions and shareholders could happy just to get out with $12-15/share. This is one I'm going to look at <b>shorting today</b> while it's around $10.75, and looking at this chart, you can't tell me a huge rally is coming up soon. Even with the best conditions, $14 is going to be tough to break. <br />
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<img height="310" src="http://finviz.com/chart.ashx?t=P&ty=c&ta=1&p=d&s=l" width="640" /><br />
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In other news, <a href="http://finance.yahoo.com/news/Netflix-to-separate-its-DVD-apf-1912482126.html?x=0">Netflix is planning to separate DVD and streaming businesses</a> into different units. The new DVD business will be called "Qwikster" and if you have both services, you will be billed separately. As the stock as been hammered, I think this is another dumb idea. Netflix is a well known, established brand, now confuse the people that haven't adopted either yet and give it a new name? And your basically telling investors that the mail service is garbage...so why buy into that area? But more importantly, why not call the new division"NetflixMail", "NetflixDVD" or "Netflix-"whatever...keep the name for recognition and help both your brands at the same time. On top of that, apparently the Qwikster name is already taken on twitter, so any social media types will go <a href="http://twitter.com/#%21/Qwikster"><b>check out this guy, who's seems a little more into smoking pot then running a DVD mailing service</b></a>. Talk about a company F'ing up as much as it can. <br />
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Few more good reads to take a look at, while I get into buying/shorting mode for the afternoon.<br />
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<a href="http://blogs.hbr.org/bregman/2011/09/are-you-training-yourself-to-f.html">Are you training yourself to be unproductive?</a><br />
<a href="http://www.jamesaltucher.com/2011/09/how-to-be-the-smartest-person-on-the-planet/">How to be the smartest person on the planet</a><br />
<a href="http://www.asymmetricinvestmentreturns.com/active-risk-management/the-human-system/">The human system: What do you fear?</a>Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com0tag:blogger.com,1999:blog-631671877565038219.post-36663328326868551072011-09-16T00:54:00.001-05:002011-09-16T00:57:59.316-05:00Most/Least Educated Cities in America<b><span class="Apple-style-span" style="font-size: large;">Reuters: <a href="http://www.reuters.com/article/2011/09/14/us-cities-usa-educated-idUSTRE78D4PS20110914">Madison, WI is #1...Miami #100</a></span></b><br />
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<b>And that doesn't factor in the greatness of the Wisconsin Badger football team! Go Bucky!!!</b><br />
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Market-wise...it's been a tough week following the market. Lots of things going on and tomorrow won't be much different with final prep of the course in the morning and hosting the races in the afternoon. All I know is the market is showing great strength heading into options expiration tomorrow and is moving towards that all important 50 day MA. Some chinks in the armor from what I saw today. Great up movement, but quite a few stocks I follow were in the red today that typically participate in moves like today. Solar stocks were off, and the momentum stock of the summer were mixed. Likely didn't help that NFLX dropped 19% after announcing subscribers were down after their ill-advised price hike. I understand long term this could be a great move for the company, but at the same time, its a business in it's infancy and was growing nicely....get people to keep signing up, keep them hooked, and raise the price a $1/year and their will be little backlash. I mean this could turn out to be one of those infamous turning points of the company...it sure has with the stock:<br />
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<img height="310" src="http://finviz.com/chart.ashx?t=NFLX&ty=c&ta=1&p=d&s=l" width="640" /><br />
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With options expiration tomorrow and my work on the course, i likely won't touch the market...if see it much at all. Although the last few days have been tough with my largely short bias, I do have BWLD and my long term positons doing well....and frankly, don't expect this party to last much longer...at least without some short term pullback. Add in RIMM getting slammed after hours and it could weigh on the tech sector, but I feel like that will be an isolated case since RIMM is no longer considered a big player and just shows how Apple and other competitors are beating it up. I'm looking for a choppy day tomorrow, and as always, hoping that my shorts are the one's chopping down, and my longs on the way up.Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com0tag:blogger.com,1999:blog-631671877565038219.post-69134835639875818852011-09-14T14:33:00.000-05:002011-09-14T14:33:01.648-05:00Wednesday, Sept. 14thAfter looking through charts and the market today in earnest for the first time since last Thursday, I can say right now I'm not sure what to do. I still have a bearish bias and positions that reflect that, but the market is looking good. Today's rally throughout the day looks strong and could signal another 5-10% move to the upside before a break in the action. But I just don't trust this market on the upside. I feel like a crushing 2-4 days on the downside could happen at any time now.<br />
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It's very odd following the market right now...since I have my trading account short, but all my retirement an long term accounts on a long basis. So as much as the up days are good for my overall account, it's painful for my short term trading. So, we'll see how things close today and go from there!<br />
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<a href="http://macromon.wordpress.com/2011/09/13/apple-in-bullish-pennant-fight/">Apple in Bullish Pennant Fight</a> -- The move back to $400 looks to be on<br />
<a href="http://www.blogger.com/"><span id="goog_1029826063"></span>3 Keys of Small Success Lead to Big Success<span id="goog_1029826064"></span></a>Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com0tag:blogger.com,1999:blog-631671877565038219.post-85161084991494310532011-09-14T14:25:00.000-05:002011-09-14T14:25:04.461-05:00Mark Cuban Blog & NCAAYou may love or dislike the guy, but Mark Cuban is no doubt a great businessman and knows how to get what he wants out of life. He may look like a fool at times on the sidelines of the Mavericks games, but I'd rather have an owner all over the action than one sitting in a private box a few games a year just checking over his investment. He's been posting to his blog much more recently and a few have stuck out. With all the talk of the college conference shifting and developing into super conferences, it could spell trouble to the NCAA as a whole. <br />
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<a href="http://blogmaverick.com/2011/09/04/so-what-should-big-12-schools-do-say-no-to-super-conferences/">What should Big 12 schools do?</a><br />
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The scene is shifting, and over time the NCAA Division 1 landscape is going to change from what we see today. There are rumblings out there about separating the Division into a BCS division with their own championships, with all the mid-major schools and non-BCS universities with their own championships. As a coach at a mid-major program, I think going that route is bad for the NCAA. While more money will pour in to the BCS school division, making it practically a semi-pro division, the other schools will be dropped into the dark and lose exposure similar to a D2 or D3 school. Leading to less revenue to schools and more power to the top level division. What I dislike about it the most about this idea is the opportunities that will be lost by mid-level D1 schools to compete against the "big dogs" at the NCAA championships. Not only will it dilute the meaning of being an NCAA All-American at the smaller schools, but it will mean less competition for the top division also, demeaning that accomplishment for those athletes as well. Besides, many of the top athletes in the country in non-revenue sports come from schools that are not BCS schools may. So again, each division would actually be weaker and make the championships less competitive. I realize that the money is in the big time sports, but I think some of the true appeal of the college game will wear off the more it turns into a semi-professional league<br />
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Back to Cuban, he re-posted in August one of his posts from a few years back that is a great read: <a href="http://blogmaverick.com/2011/08/04/how-to-get-rich-2/">How to get Rich</a>.that I think is good for everyone to read. The only exception I make is his post to get rid of credit cards. I use my credit cards for everything I can and rarely use cash. I never carry a balance and don't treat it like free money....but I do get cash back on every purchase from 1-5%, and it adds up big time and I typically use my points as credit on later statements. They key is to view everything you purchase as cash spent...and can you afford it NOW. If you can't, you don't buy it, it's that simple.Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com0tag:blogger.com,1999:blog-631671877565038219.post-30416337421335383802011-09-12T22:35:00.000-05:002011-09-12T22:35:42.455-05:00Quick UpdateNot intentional on the lack of posting. Gone all weekend for meet and headed over to Madison for the Ironman and other festivities. Busy week ahead coming back today, 6am practice, marking the course for the home meet, and afternoon practice. <br />
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Didn't pay too much attention to the market today as it was pretty boring. OPEN hit a new low intraday which was great to see. <br />
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Also of note, Pandora mentioned in a previous post hit a new post IPO low today on <a href="http://www.forbes.com/sites/ericsavitz/2011/09/12/pandora-continues-shrinking-clear-channel-rival-on-iphone/?partner=yahootix">shrinking listeners</a> and closed at $9.87 today:<br />
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<img height="308" src="http://finviz.com/chart.ashx?t=P&ty=c&ta=1&p=d&s=l" width="640" /><br />
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There's really not much I see that I like long or short right now since I'm going to be away from my computer tomorrow most likely. Although if LNKD gets back over 84 I'm going to check all my brokers to see if I can find some shares to short. What a stupid stock. I gotta look into some options plays to get in on the action when this things starts to melt down. Hope to have something more insightful later tomorrow, but for now, I'm happy with my short bias.Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com0tag:blogger.com,1999:blog-631671877565038219.post-58495742313598128022011-09-08T23:39:00.000-05:002011-09-08T23:39:42.586-05:00New Wall Street-ish Movie Out This Fall: Margin CallCheck out the trailer for the new movie starring Kevin Spacey depicting the events that lead to the 2008 market crash. Coming to theaters Oct. 21st.<br />
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<iframe allowfullscreen="" frameborder="0" height="345" src="http://www.youtube.com/embed/GTfUENx6uRs" width="560"></iframe><br />
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Not sure how I feel about this one. If your a financial geek you might get into it, but it looks kinda boring. I'll wait for it to come out on DVD....which shouldn't take too long.Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com1tag:blogger.com,1999:blog-631671877565038219.post-15853975247575809702011-09-08T14:02:00.004-05:002011-09-08T14:19:52.262-05:00Bear Flag, FAZ & IMAX tradesGood posting about the current <a href="http://allstarcharts.com/about-those-bear-flags/">bear flag formation of the markets</a>...except for the hideous bear flags on the webpage. I guess bears = suck...so its a good correlation of the market going down. <br />
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I like the movement in FAZ but got pulled away this morning when it was lower. Currently have a order in to add to my position...<br />
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...update....just picked up more at 57.90. I chased a little higher as I was trying to get cute and run it down to 57.60, but didn't quite make it. At least I got it though....missed out on MGM as it's down 5% since I posted about it earlier. Also closed out my IMAX position earlier today at 18.27 for a small gain (.45/share). Was never really comfortable in that position so it feels good to close that out without any damage.Richard F.http://www.blogger.com/profile/01171993460149377465noreply@blogger.com0