Market Wrap 3/23/09

,
Markets up huge on toxic asset buyout plan announced pre-market. Of course, the only day in months that I decide to sleep in. Most of the move was done by ten, and then about the time I got bored and went to run some errands, the market crept up some more in the late afternoon.

I don't even have to load my indicator charts to tell it was a 90% up day today.

Oh well... doesn't get much greener than this...

Market Wrap 3/18/09

,
Another big day in the markets. It was a choppy day up until Big Ben spoke that they've got money to burn. The markets took off after that for a nice little rally and then pulled back a little. S&P finished just under 800, the magic turning point.

My system suffered a lot of chop-outs, but was able to recover with a small loss on the day. Over traded and didn't wait for the news to unravel...

Market Wrap 3/17/09

,
The markets finished up big, from 2.5 to 4% higher. The stocks I was trading were a bit choppy, so finished down on the day. Also turned out to be another 90% up-day. So it should get real interesting!

I have some nice screens in StockFinder that are actually working now and have improved performance by using my laptop for browsing and tweetdeck - they both consume a lot of memory. So I run StockFinder and TOS on my main PC.

Lots of animosity funneled at AIG for paying out bonuses after they get another chunk of bailout money. Not sure why the gov't doesn't go in and take over the companies and clean house. The reoccurring insanity is how people expect these financial geniuses that got us into this mess will get us out. Plus they are paid bonuses for failure?

Market Wrap 3/16/09

,
Today was Tax Day, for those with businesses. So was working on my 1120 taxes most of the day. Was bummed I couldn't watch the market, but had some charts up in the distance and put in some orders before the bell range. 3 of the 4 orders were filled by 11am or so. The 4th never triggered, so canceled it. Watched for some pushes and sold out of a couple positions before noon and moved up the other stops. Then heard the "bling" sound signaling the final positions were stopped out in the afternoon.

Also did a short BGU trade around lunch time. The SPX pull back to the 20SMA on the hourly I believe, so put in an order and made some coinage.

The markets started tanking late afternoon. Ended up as a distribution day.

The last time there were two 90% up days like last week, the market moved sideways for just over two months. Who knows...

Just happy to make money and that only have to do my personal taxes now...

Market Wrap 3/12/09

,
Rally Rama! A follow through day for IBD'rs. The S&P, DJIA & NYSE all followed through today on big gains.

Today was a profitable day with some early choppiness. Another 90% Up day, which last time that happened back in November the markets rallied for a couple of months. So it should be some good pickings for at least a month, until everyone has made their IRA contribution.

Market Wrap 3/10/09

,
Major rally across all the stock markets today. DOW +5.8%, NASDAQ +7.07% S&P 500 +6.37%. Big numbers, but the market is so low it doesn't take much to move the markets when it gets some money behind them.

Today was a 90% up day, the McLellan Osc. turned up above -200, the Mc. Summation Index's downward thrust has pulled back. The S&P closed up above the 9 day EMA.

And I made money today! APOL chewed up a lot of profits, I was determined to make a trade with it, but it wouldn't behave for me. Not a good way to trade and it showed.

The newz was that Franks said they're pushing to revive the uptick rule. Whoo-p. Like it will change anything. And Citigroup said it was profitable for the last two months. Just as their stock was cheaper than a McDouble.

What does a big rally look like?

Market Wrap 3/9/9

,
Woo hoo! It's square root day! Made a handful of trades today. Got chopped up, but a late day $FAZ trade brought me above water. Was late getting back from Hollywood, so glad I was out most of the day.

Market Wrap 3/6/09

,
The mkts were choppy today. Was 7/7 on bad trades as I neglected to nurse them. Only small losses, so money mgmt working well.

This is my first post from my Mogul. Just like on a PC, but smaller screen/keyboard.

John Stewart Rips CNBC

,
The best rip on CNBC yet. "If I followed CNBC's advice, I'd be a millionaire... provided I started with 100 million!?"

Market Wrap 3/4/09

,
Today was better. The market was up and I recreated the StockFinder charts from scratch (as opposed to importing the charts from Blocks). Performance was much better and also applied a filter to help cut down on the watchlist (it's only 100 to begin with!?). It found some nice setups for me and had a pretty good day with 6 wins out of 7 trades.

My indicators show that yesterday and today were both 90% days. Not sure how today could be because the markets were all up by 2.25 to 2.5%.

I think Thursday could be a good entry day for some overnight trades, but unemployment comes out on Friday, so that might be a better day. Any big push down could be a good buying opportunity as the McLellan Osc. is oversold.

Market Wrap 3/3/09

,
Day off in the post. Today was testing day with StockFinder. The performance was horrible. Way too slow for day trading and it can't handle 3 real-time charts at the same time with some basic indicators.

My first trade was bad because TOS reset the default trade to LIMIT instead of STOPLIMIT. Ended the day in the red. Still paper trading my setups, but I don't like any losses.

Market Wrap 3/2/09

,
March 2nd brings more of the same. Tankity-tank. DJIA down 4.24%, SP500 down 4.66%, NASDAQ down 3.99% and the NYSE down 5.55%. S&P closed just above $700. Still feeling a rally before a big drop so "they" can suck in some IRA money.

Another 90% down day, last one was 2/17/09, which was followed by a 90% up day on Feb 24th.

As planned, signed up for StockFetcher Platinum today. So far so good after loading one chart from Blocks, but still waiting for the feed to download 9 months of data - the last time I used Blocks in real time.

No trades today, looked away for a moment and missed the setup in the morning and about the same thing happened late in the day. Hopefully StockFinder will help with that.