Packers Season Opener! MCD, MGM, FAZ...and OPEN tanks!

I feel like I should be playing this market more...the swings are beautiful if you're a swing trader..as long as your on the right side.   The only real problem I have buying right now is the solid companies have seemed to rebound nicely and are not at great discounts.  With the long term view of problems with our economy, even for short term trades I don't want to buy into average companies since those will get slammed if (when) bad news surfaces.  And look....Groupon IPO cancelled (Forbes).

From an post i did last Thursday, MCD managed to drop down into my 87-88 buy range on Tuesday hitting 87.42.  I missed that play while working and it rebounded...but I think we'll get another chance to buy under 88 before any real strong move up.  (currently 89.77)



Short idea:  MGM.  I like casino plays, but this is the weakest of the bunch swimming in debt.  I think this bounces around the 9.70-11 area for quite a while.  (currently $11.08 at posting)



And I really like FAZ here ($55.86).  It's a big mover and you could lost 5pts really fast, but financials just don't have it...at least until there's some clarity around Bank of America (and the excitement around the Buffet investment is wearing off).  If you don't time it perfectly, you're going to get another chance to make money or at least get out even.

  
FAZ:  $55.86 at time of posting

...and just from the wire while writing this that's music to my ears....Google is buying Zagat!...and is crushing OpenTable.  While I'm not sold on the restaurant reservation space, I own Google, so I'll have exposure if it is a valuable business, but on the news OPEN is down 9%, which is great news because I was getting a little annoyed how strong it was lately.