Terror in the SPX Pit
Monday, August 27, 2007 at 12:15PM It brings up a good question though... How should I protect myself from this event?
My scrapbook is running behind... here are a few more contributions.
Here is a pic of Jamie on a kayak trip in Jersey. This was taken at an event he helps organize and manage to raise money for the Special Olympics. Jamie, I told you before, but you are a hero in my book.
Here is a pic of Kim and Dan (aka "VA beach girl") at the 3 day live class last week. We got to visit for a few of the days that they were here... thanks for keeping me company!
Next you'll see Tim on his Option Addict water sled. He bought the one and only limited OA edition. Nice call.
Finally the Marketcast posed for a few shots with Danny and his mom at Investools headquarters.
Well, I think I will crawl back into my hole. I might post a watchlist this evening, if the mood catches me right.
Recommendation: If you happened to be on any side of the box trade, exercise your option just to piss off some hedge fund/corporation.
Long: 911 (the Porsche kind)
Short: 911 (the terrorist kind)
References (1)
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Reader Comments (72)
I am with you on that one Jeff (the 911 Porsche side)!
Great pics too.
Thanks for the reminder on GMCR, I was watching on the close and somebody took some profits or someone thinks it is unwinding the wrong way.
Thanks for looking into the SPX for us!
Cheers,
CC
Jeff...just took my first trade since learning my new rules last week. It was GMCR but was already on my radar from Friday. I feel like a new woman (or trader).
Kim
REE stands for Raimo's Entry/Exit. It is a way on this blog of saying that you want to enter your trade close to your exit for loss so that you can minimize risk.
Would you please e-mail me?
gardnerfam4@hotmail.com
Thanks!
tuck
Did we lose a lot of readers recently?
You're right. The blog was as boring as the market activity today. Maybe I'm getting used to and liking the wild swings. Did I just say that? I'm taking it back.
Okay everybody. Pipe up and let Jeff know you're here.
Kim
I can only speak for myself. I have 2 kids starting high school today, one that I am getting ready to move into her first apartment for college and my oldest who just had surgery. This is a busy time of year for any of us that have school age children and with the market being so crazy, I am guessing there are a lot of us mostly cash. It is hard to be away from the computer when the market is so volatile. That doesn't mean we are all not watching the blog but perhaps not participating as much.
I am here. But since the market just closed. Now I can concentrate on my day job ;-)
Just reading the comments and working a plan for tommorrow. It was sort of nowhere day in the market. But my gut feel is that we go down and retest the previous lows and hence just sort of sideways.
China was a surprise today and it kept the market stable for the day.
I am here. I'm always here. Even when I am out playing Realtor or artist or drummer girl, I am here.
Nice pics! I like putting faces with the names.
Re Chinese stocks today - any explanation as to why everyone suddenly decided to throw their money that way? Also, I noticed that TSL, a Chinese solar stock, did not participate but was down with the rest of the solars and the market. And it is tempting me as it is sitting right at support. This is either a double top or a great entry. Thoughts?
As I mentioned above school starts today and while I never really participated in this in my corporate life I started a tradition to go at least on the first day and then hang a bit to see how things went on the first day of school. Now that the kids are back home I have to catch up on work and my watch lists.
Oh and yes I am mainly in cash just LEN and SHV. Really boring!
That green stuff you sucked down, that they told you was cactus juice...really leftover water from the 3 mile island nuclear incident here in PA years ago. Yeah, it throw people for a loop. Wait till you pee.
LFC...excellent...sure, I owe you a cactus drink..done.
If Kim pointed out that baby, she might need a whole cactus. Good play, you guys.
Michelle
I'm here too. Almost all in cash, so just checking in for a couple of days and then entertaining friends for about a week.
Really looking forward to getting back into a routine and digging into this market.
Lori
I have been a bit of a lurker today as I have some other projects I am working on. However I do not have any real good excuses like kids starting school, vacation or anything like that.
I am still net short waiting around for the Market to make its mind up. And yes the BPHX led the charge long for me today.
Hey I was in SLC this weekend and didn't get a Cactus drink, but I think I have a new submission for the Marketcast cookbook! Stayed tuned.
I think the OA bloggers are out doing their homework that is why traffic has been light.
Cheers,
ARTY
We are def still reading - hehe im slightly steeping away from the market to re-arrange my mental model before continuing. Reading trading in the zone (which is a big eye opener, just got to chapter 8! Im a sales rep so working in probabilities if perfect for me)
Ohh and thanks for the Fosters comment on the market cast friday! Heheh great aussie beer, however I like Bee's Knees better - Honey Wheat beer from Western Australia! Its 100% awesome! hehhe
Some obvious observations from today...
Financials, most notably BSC seem to finally be weakening enough to start heading down again and homebuilders broke down through the support they were attempting to establish. LEN looks the best for a bear play in that group if you need a re-entry.
---
MikeH
the prior 3 weeks have left us all burned,
on the thought of trading for a living,
how could we disappoint one who is so giving,
So, Jeff, we are here, but we are cautious,
because the last 3 weeks have left us nauscious,
we have seen our accounts oscillate like a fairy,
a lot like Raimo after his morning Bloody Mary,
or not unlike his buddy Arty,
after an Option Addict party,
so don't be discouraged, we are still here,
and soon your mailbox will be full I fear,
about the future market trend,
then you will be sick of us, my friend,
enjoy your down time and court your bride,
she needs your free time, if she said otherwise,she lied,
we are still here, we could not leave,
because without you we could not achieve,
the financial independence that we all desire,
and soon we will all be able to retire,
with Brett, Liz, Chris, you and VA Beach Girl,
but not with Raimo, that makes me HURL!
Signed PP