Trader’s Log Stardate 2013

Trader’s Log Stardate 2013

The market looks to have a strong opening today. Let's see if it's another counter-trend Tuesday or the start of a new leg up. Market technicians (chartists) have their eye on the S&P 500's all-time intraday high of 1,576.09. A strong move above that would be...

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Caution Calls For a Collar

Caution Calls For a Collar

There was a very interesting article in Sunday's New York Times about the state of the market, the economy and the US political system. It is written by David Stockman, Reagan's budget director, who resigned in protest over the ballooning deficits.He raises a number...

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Weekend Update

Weekend Update

Well, to no surprise the market closed higher today. The S&P set its all time record closing price of 1569.18. The market has had an amazing first quarter of 2013 with the Dow up 11.2% and the S&P up 10% These are good results for a whole year folks, not just...

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Sometimes You Need to Insure the Upside as Well

Sometimes You Need to Insure the Upside as Well

My counter trend Tuesday argument yesterday seems to be holding up with S&P and Dow futures down about half a percent just before the opening. What I forgot to mention yesterday, though, was this: It's a short week with Easter weekend coming up and all. In fact,...

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If Puts are Protection Why Sell Them?

If Puts are Protection Why Sell Them?

Before I get into today's topic/lesson let's take a look at the market and what we call "counter trend Tuesday". Very often, for reasons unbeknownst to me, Tuesday's market action will go against the action for the rest of the week. This is particularly the case when...

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Market Commentary

Sometimes social/political stuff thrown in for good measure