Update: "JPT"

It is holding up ok and we are not bad considering another late day "bail out" on the markets. The position is up 2% on a net basis at the close. The late day selling is getting tiresome. let's see what next week brings. Check emails for price targets.

Update: May Month End

May was not a good month for the Stock Market. The "Europe Contagion" hit the markets in a grand fashion and brought the U.S. into "correction" territory. Volatility was the big word for most the month as investors experienced a new term "flash correction" and realized how little diversification there really is in the world right now. The correlation amongst indexes on a global level is evident and off the charts. Asset allocation has taken on a whole new meaning- what asset allocation?! It seems everything is moving in the same direction. I guess that is what happens when 70% of the trading volume is now controlled by flash trading firms utilizing the same models and probally all went to the same schools. They all think alike. WallStreetRamblings.Com did pretty well- all things considered. We are up 43% on the year vs. The S&P500's -2.30%. We left a lot of money on the table and look to correct some of our mistakes. It was not easy. Check emails for updates. have a great weekend and I'll see you in June!

Bought more "JPT"

Check emails for status. We doubled up.

New Trade: "JPT"

We put on a new trade late yesterday afternoon with about 40% commitment. I'll call it "JPT" because its an old favorite and it looks good technically. We will look to add more if it acts right. Check emails for update.

Update

Looks like we got shaken out early on "ABC". We had a really nice position at a great price; however, I had to leave early Tuesday for a friends Bachelor Golf Outing and noticed the futures were down big. Our position was so large that I did not want to leave it un-attended. Too bad- It is working out great right now. Oh well- should have trusted my instinct.

Trade Update: "ABC"

Sold this morning at 8:02am for a -1.6% loss in pre-market. It is just too risky right now. Check email for updates.

Sample Headlines Today

"It's beginning to look a lot like a correction or...worse" - WSJ
"Is your money safe? Big banks are looking riskiest" - Prechter
"One false move could set off global chain reaction - Washington Post
"Ready for WAR" - The Drudge Report
"Dr. Doom predicts more pain" - The Telegraph UK

What to do....What to do.....

Trade Update: "ABC"

"ABC" is acting well. We are currently up 4.5% on our net cost basis. The market continues to be in poor shape. I am surprised that it did not continue its bounce from Friday. There is a lot of risk right now and I am concerned about which way it will go. It is tempting to pull the trade with our small profit. If "ABC" can continue to hold during this period, we will be in a great position. Check emails for updates.

Trade Update: "ABC"

We couldn't help ourselves. We doubled out position on "ABC" at around 3:45pm. The price wasn't the lowest of the day; however, it wasn't the highest either. We got a mid range of the day. We are now fully engaged into the trade and closed the week completely flat on the trade. The headlines were so negative that I am hoping we have seen the worst of this correction and we might have a chance of "good news" over the weekend. Although I am a little nervous, I think it should work out. Check emails for updates and have a great weekend!

Nice Predictable Bounce!

A well scripted bounce. let's see if it holds. We missed our buy limit by 2-cents! If we had any guts, we could have had some nice 20% bounces in 2 hours. Now comes "The Test". We are back in "Hamburger Hill Mode". The lines are drawn at S&P500 Index 1040 and S&P500 Index 1100. Going to be interesting.

The Line Must Hold

The markets are at crucial levels. They are already in bear market territory from the high. If we do not find stabliity at these levels, it will not be good. The funny thing is that the volatility as measured by the VIX is sky high yet it is only going in one direction-down. That is disconcerting. Check emails for targets.

Trade & Market Update

Wow. The markets are falling fast. We did not get filled on our Buy Limit for more "ABC" yesterday. We put in a new Buy Limit price this morning for more at a slightly lower price. I am a little nervous because I am not sure that we want to get filled. The market looks extremely unstable. Check emails for the new buy limit price and updates.

Trade Update: "ABC"

Boy it is ugly out there. We could have played our shorts over and over. "ABC" has been fairly strong. We are only down 3% on our position; however, the market looks very bad. The question is: Do we pull the trade or not? It has been very strong on a relative basis but it is starting to get hit a little given the market's crushing. We have a limit order to double our position well below the market in place. I am debating whether to cancel it. Stay tuned and check your emails frequently.

Market Update

It looks brutal out there; however, it is acting as we had a hunch it would. Check emails for strategy updates.

Trade Update: "ABC"

We did some more shopping today. We bought more "ABC" and have brought our stake up to 45%. Check emails for reports and strategy updates. Now we go golfing and take the rest of the day off while the Bulls and Bears fight.

What do you think?

Is the market going up or down from here? Email your vote.

Trade Update: "ABC"

Looks good. We got a chance to purchase some more at the close. We bought another 15% stake. The market looks horrible-which is exactly what we want! Check emails for updates and strategies.

Done for the day.

A good start to the week. Take the rest of the day off. Check emails.

New Trade: "ABC"

We just took on a new postion "ABC". We will "pyramid" into the position. We used a 15% capital commitment and may look at add in the future. Check emails for strategy update and position notes. We are very active in here. When the volatility is high- you gotta ride the waves!

Trade Update: "HHH"

We had a good trade on "HHH". It was TZA again-which is 3x short the Russell 2000 index ETF. We bought 20% capital on May 13th for $5.61 and added more this morning at 6.01 for a 50% capital position (50% of our portfolio- a big bet) for a total cost basis of $5.82 and we just closed out a little bit ago at 6.58. That is a nice 13% net gain!
Check emails for updates.

Trade "HHH" closed.

OLE!

Tercio de Muerte! The final stage. We are now up 12% on "HHH" (our short). Please check your emails for targets and cover points.

Thanks! A reader helped us out!

Thank you so much to the reader D.S. who showed us how to change the glitch without sacrificing our posts. It is now EST. We are now and will be in EST. I love our fan base! Please ignore the previous post and DO NOT ADD 3 HOURS. We are all set for EST now. Three cheers for D.S.- Ourah! Ourah! Ourah!

P.S. Good Grief we need a web guy. Soon my friends soon.

Email Question of The Week

"What Time Zone doe WSR (Wallstreetramblings) trade on?"

Answer: We are in the Eastern Standard Time Zone (EST). The website had a glitch when we first set it up. It reflects Pacific Time or PST/PDT. Add 3 hours to all posts since we are in EST and trade EST. When the website was set up, it defaulted to "California Time". We choose not to change it because it might disrupt the accuracy of our posts. We will keep it the same time til the end of the year. Thanks for asking!

We are at "Hamburger Hill"

The Bulls and Bears are at critical points here. S&P500 1150 and S&P1172 is the battlefield. We call it "Hamburger Hill" based upon the movie by the same name. It is going to be bloody for both sides in here. If one of the levels has a confimed break-out or break-down, either the Bull or Bear is going to be crushed. Play it out. Check emails for updates and strategies.