Flash Traps Set

We set some prices well below the market and now we take the rest of the day off- we call these "Flash Traps" in case the market rapidly sells off we can get our set limit prices on some of our targets. Check emails for stocks and limit prices.

Wow! We found a good price on "HHH2"!

An old friend showed up on our hunt today. We pulled the trigger on a small amount of "HHH2". This stock has been very good to us in the past. We will look to get more at a better price, if we can. Still waiting for BP here. Check emails for details on "HHH2" and BP. The are lots of targets out there.

We wait...hold your fire.......

Sharks Patrol These Waters

by Morphine....YouTube it.

A free trade: BP

I decided to give my readers a free trade. You can follow the whole process of our strategy free of charge. We are doing this because our readers miss the drama of a detailed professional trade. No secret code words on this one. Our clients are OK with this. The stock we are "hunting down" is BP or British Petroleum. . We have been setting up for this for 2 months and we feel its getting close to our "Sniper Price". Some of our readers bought at 52 even though we thought and advised them that we could get it much lower. They tried to out-trade us. Now we are at 27 and I decided to help them double up and escape. Timing is everything here. We are setting up for the "Head Shot". That is a price at the absolute bottom. Our computers are spot on this stock. The strategy agreed upon is called a "Pyramid Buy". A Pyramid Buy is based upon the concept of bottom fishing. We accumulate with increasing purchases at lower and lower prices until we get our "head shot". This is why we go into "Sniper Mode". In poker we call it "A Trap". The BP investors are scared out of their minds, We track them and look for the "Capitulation Point"- then we steal their shares like a shark. That's a "Pro Roll". Sharks patrol these waters, sharks patrol these waters....a great song...look it up....we are close...........

Houdini: The Great Escape!

Whew! We just got out of our FAS with a 1% profit. The 'Inwestor" has escaped. I don't know if it is going to continue up; however, we are glad to get out of that trade. The slate is clean and we are tracking a new one right now. Check emails for updates.

FAS Update

We will continue to hold. let's see if it can keep its gains today. We are going to call their bluff.

An "Inwestor"

What's an "Inwestor"? (notice the "W" instead of a "V"). It's a spoof on a TV commercial. My associates and I use it to describe a trade gone bad and you don't want to sell it- you become an "Inwestor". Has our position in FAS became an "Inwestment"? We have had mutliple opportunities to escape and yet we have not. I thought for some reason the finance reform bill will not be as bad as everyone thinks and the financials would rally; however, the technicals do not look so great. Do we try to trade out of our tight spot? Do we just hold? These are tough questions the "Inwestor" has to ask. The computers gave a sell on June 21st and we did not listen, they gave a sell on June 22nd and we did not listen. Now we are trapped in a quagmire. The only good news is the VIX is high enough that we might get one more chance to escape. This trade was human error all the way. We can only hope for an escape or new trade-out to escape. Stay tuned and check emails.

Trade Update: FAS

I guess we missed a good opportunity Monday. The stock hit our initial target of 25. It would have been a nice 10% gain. Unfortunatley, we did not sell. We were very close to pulling the trigger; however, I thought we had a good chance at running to the second target of 27- which is the 200-day moving average. Now we are in "no man's land". We could pull it off now with a very slim loss. Stay tuned for updates and strategy. Check emails. We will ponder our next move here....To sell or not to sell; that is the question.

Trade Update: FAS

FAS should have a good open today. Check emails for strategy and update before market open.

I'm Back! Update 1

Wow. I was out of touch for a week! Our computers crashed and the problems we not resolved until Thursaday night - 5 days later. No worries though since our position in FAS we bought Friday the 11th is doing well and we had to communicate our hold positions via the good old telephone.

We bought at the close

Check email for stock and details. I figure we might see something good this weekend.

Just watchin for now

Check emails for updates.

Trade Update: "JPT" or S

Dumped. We took a 6.3% loss on that one. Looks like they "over-estimated" the sales EVO. We don't like companies that play games. Check emails for updates.

Why Number 17?

Dang, I had no idea how sensitive some people are about their NASCAR drivers! (Mega emails!)The reason I Choose 17 is this: Being a "Yankee" by location of birth, I went to my first NASCAR at Atlanta Motor Speedway a few years back because I was invited by some of my Georgia Brothers to a Dewalt Tools tent for the race. I had never went to a NASCAR race before. They treated us like Kings! Their driver was Matt kesneth. Open bar, Open food, and Open good time. Being a Minnesota boy, I knew nothing about racing. I bought a Rusty Wallace jersey because I liked his name since I was a kid and he seemed like if he played hockey, that was a cool name. Anyways....The Dewalt team treated us awesome and gave me a number 17 hat to go with my #2 jersey. Well #17 won! NASCAR was great and I will never forget.

Driving thru a spin out: JPT

We got spun out and are drivin' thru with "JPT". Tough day...head down, pedal to the metal, and push through...our "JPT" is Sprint or "S" ticker symbol. We got stuck in this dog before- thought we had a good chance to push through and it bailed on us again. Good Grief! I have no idea why I seem to be convinced this is a 10 dollar stock. Maybe because the 13.7B market cap seems so cheap. We own a "warehouse full" at 5.03 and it's killing us. I just can't believe its not worth at least 35 billion or approx. 12 bucks a share! We are going to "slow roll" this pig and let it juice up a bit...maybe near 8 we dump; however, our huge position is killing our "scalping" game. Something to think about.

"JPT" Update

Ouch. We got caught holding the bag on this one. I thought is had a real chance. We had an opportunity yesterday to bail ; however, the news seemed good and it looked like it had a nice run in it. I was wrong- by the end of the day it faded away like a "One-hit Wonder". Too many retail traders involved I think. Thought many times to bail out and did not. We are not going to do anything with it right now. It is not a bad company and we are going to let the traders clear out. Besides- it looks like there is not much to do out there. Check emails for updates.

This place is a Ghost Town

Market Update

Played a great round of golf today and was thinking about the market. I know....why? I am perplexed on what the "real game" is about right now. The "Euro" I doubt...I remember when it was trading 75 cents on the dollar and the market (U.S.) was soaring. I figured it was the top of the currency when "top women models" wanted to be paid in Euros. Good Grief! No disrespect. Here is the word on the street- " A Reset". The bull market from the March 09 lows has been halted. Now we clear the board and reset the game. Actually the Fed is looking to raise rates because bank balance sheets are clearing up ( except for those that converted away from the dollar with the models). The Euro falls; the dollar gains- duh. The "Obama Question" is still in play. This makes Wall Street nervous. Not quite sure what the real "motive" is in here (i.e. the market matrix). Politics aside- are we going up or down? The emotions are high as demonstrated by the VIX (volatility Index). It is too easy to short- I don't like that. The pros want a reason to buy. I say...the street wants to go long....so we use a "cut and run" strategy. This means we buy...and scalp. The short play is too risky right now. My sources tell me "Wall Street" is gearing up for a final run. "Dr. Doom" be dammed...we got one more chance at a bubble and they are gonna run it. Timing is everything. GenX ain't gonna do it. There is 1 more chance at the baby boomers. I think "The Street" is gonna go for it. I don't know how far "The Reset" will play down; however, I don't think much further. We are buyers and scalpers from here on out. Check emails for updates.

"The Blizzard" by T. Ives

Gleaming, pearly crystals journey from the sky
Like curtains barricading light
Blanketing the Earth
Solitary hexagons
Parachuters abandoning a plane..
Each white dot acts as a stitch-
And they form a quilt wrapping the ground
To get TORN APART
bit by bit
by thoughtless sleds and feet....
At night, drifts rest in peace
Undisturbed
Glistening under a winter moon


SS- A poem from one of my favorite poets. It is perfect for the current markets.

Dow 10,000 is taking a beating

The market is getting pummeled! Dow 10,000 is under attack again! It's no wonder given the headlines and dismal employment numbers. This is the 8th attack on the 10,000 level in 20 trading days.It's the 7th attack in 10 trading days! It has been holding. It is like the bombing of London in WWll. Everything is getting hit. I don't know how much more it can take. Stay tuned.

The Meat Grinder

The markets are performing a slow grind. I am surprised they are not bouncing hard off these levels. There is no real commitment. The bull market that began off the march '09 lows is completely halted. It keeps trying to regain traction, only to slip in the late sessions. The proper trading strategy in these markets is "Scalping" given the high volatility and no direction. It seems everybody is doing it. We will let "JPT" play out into next week and decide whether to join the "scalpers" or not. Check emails for updates.

Update

Looks like the markets are churning in a tight range. They are still fragile and could turn either way at any moment. The technical odds favor the next move as being upward. The volatility index is still fairly high and the markets are susceptible to headline risk. It is still very easy to get whipsawed and we are going to play a buy and hold strategy for now on our "JPT" trade. The position is down about 2.3%;however, it is holding well and looks to recover from these levels. If a breakdown appears, we will have to bail out. Check emails for updates.

Looks like more pain

The market just cannot get out of its own way. Futures are down again. I'm tempted to fold our position and not play this game in here; however, we are going to hold our position and see how it plays out. Just a terrible market right now.