The VIX looks rather flaccid for a 22 point drop in the SPX. Look at the reaction, or lack thereof...
You can't tell me that the market isn't more fearful of higher energy prices. Toss in a few earnings disappointments and we should be well off into the 20's on the
VIX.Or perhaps we shouldn't...
The market as a whole is too overly optimistic anyway.
I am surprised that I didn't see more implosions in my long positions today. The only ones I have been surprised about were SII, SLB (small position over earnings) and FLR.
How can I forget the nice surprise in HANS? I cancelled the "HANS Across America" tour and now millions are pissed at me that they are not getting a refund.
I liked CF today...a good ol' blog favorite.
How about the upset I called on the Marketcast last night? Rutgers beat South Florida, and I have footage of the victory...
Thanks to Agent
Scully in the Rutgers Nation for sharing these pics.
I am about ready to call it a day. The wife has left me all alone for the weekend, and I am in a bad mood anyway. Sorry for the under-delivering of useful and witty content today, I'll be back with a
vengeance next week.
Recommendation: Shake off the bad day today, and get back anything that was lost next week.
Long: Community Support
Short: Ungratefulness
Disclaimer: Thanks again for everyone's support with this competition. Hopefully we pull together a victory.
Jeff, where's Amber off to? Shopping in Paris? Is she leaving the kids with you (is she a stay-at-home mom like me?).
I'm SOOO hoping that you win this blogger's competition. I'm optimistic... But on the off chance that you don't, do you REALLY need to win a competition to understand what this blog means to us?
I think you already know...
:)
Posted by Unknown | 10/19/2007 12:59:00 PM
Thanks Jeff I think I should follow your lead and just go relax. Even with a foggy head your evaluation seems spot on.
Liz, thanks good advice. What a wonderful communication here..
Posted by Bob (and Pam) | 10/19/2007 01:04:00 PM
Jeff,
CF is what I just mentioned (previous thread) as on my shopping list for this afternoon. Nice to have confirmation. It is firming up here even as the rest of the market is tanking.
The silver lining to this awful cloud today is that at least the stuff I got stopped out of is still going down so it could have been worse. AND, I will have a boatload of cash to play with once this market stops tanking.
I think MDC is going bye-bye today. That *ucker is still up a bit while the market is approaching -300. Maybe someone knows something about earnings next week. It's got another half hour.
Jeff, have a great weekend. If you get lonely, we're here for ya.
Posted by Doji Girl | 10/19/2007 01:10:00 PM
Hey guys ... I suggest you go back and read this post from Jeff ... It meant truckloads to me when I read it and it sure is a nice reminder this day ....
He put it all into perspective in this post:
Yesterday...Seems So Far Away from one week ago today ... October 12. (about 1/2 way down the October posts)
Enjoy ... This is a needed day .. not a bad one ... I just wish I had more capital to pick up some great entries that are out there and I have bought several already.
Posted by Benton | 10/19/2007 01:11:00 PM
is anyone noticing the HUGE open interest in the SPY puts in comparison to calls? Maybe its all hedging but it is concerning, makes me wonder how much that should even be looked at as an indicator.
Jeff makes a good point on the vix though...
Hmmm
Ben
Posted by Ben | 10/19/2007 01:16:00 PM
Anybody like this retest in UTX?
Posted by Krystal | 10/19/2007 01:29:00 PM
Cup and Handle HELP
Could a pattern guru tell me if XOM and COP action today has broken the C&H pattern in your view?
Posted by Bob (and Pam) | 10/19/2007 01:29:00 PM
Bob, I'm in both of those and I was wondering the same thing. Although, neither of them are near my exit points today...
Posted by Krystal | 10/19/2007 01:37:00 PM
Bob (and Pam) - COP is looking quite bearish as it is just making a lower high and bouncing off of resistance. XOM is also showing some bearishness but it is really close to support.
Posted by Scoot | 10/19/2007 01:39:00 PM
No guru here but the XOM depends on how thick your crayon is. COP doesn't look like it ever confirmed a breakout which would make it a non issue to me. If you were anticipitory, where is your line in the sand?
Posted by Logan | 10/19/2007 01:46:00 PM
Thanks Krystal and Scoot.
So who jinxed POT. At this point everything even my puts are working against me, well ok LEN is good.
Posted by Bob (and Pam) | 10/19/2007 01:48:00 PM
Jeff,
Two more votes from my computer. What a day! Thanks for your comments. Time to get away from this madness.
Posted by Anonymous | 10/19/2007 01:59:00 PM
Thank goodness the market is about to close. It's in a freefall.
Michelle
Posted by Anonymous | 10/19/2007 02:00:00 PM
YES! The Market's closed... we can stop the bleeding!
Posted by Anonymous | 10/19/2007 02:00:00 PM
I wouldn't be so upset today except the two short positions (you know, the ones that are supposed to balance the longs) are up and my three long positions are down. So much for a balanced portfolio. Bleeding across the board. This is the kind of day I wonder what the h$#@ I'm doing.
Posted by Matt | 10/19/2007 02:02:00 PM
OOOUUUUUCCCCHHHH!
Everybody try and have a good weekend and clear your heads.
Posted by Sean M. | 10/19/2007 02:02:00 PM
im bleeding and the only thing that will stop it is a south american hottie. i will not think of the market again today or tommorow - i hope you guys can do the same. im off to medicate myself.
stepinvest
Posted by Anonymous | 10/19/2007 02:03:00 PM
CLEAN CUPS!
Posted by PCurry | 10/19/2007 02:04:00 PM
Well! That was interesting. barf.
If it wasn't for my 'insurance' on IWM yesterday, my account would be down twice as much.
I did dump MDC in tha last few minutes even though it (finally) went down because a) it was at my target and b)it was at my target.
Man, those drums are gonna get pounded tonight!
Posted by Doji Girl | 10/19/2007 02:04:00 PM
Well Fuck me.
Was this an appropriate time? hahaha.
This was really ugly, I would be even more upset had i not been successful in trading GOOG earlier.
Oh, and Ameritrade wasn't showing my trade postions and if they had sold.
SO I am stuck in SLB and DRYS over the weekend, goody!
Ben
Posted by Ben | 10/19/2007 02:07:00 PM
I love watcing the IWM puts continuine to go down after the bell.
Posted by Logan | 10/19/2007 02:10:00 PM
Matt - we all have one of those days. In fact, many of us had one today right along side you. It is just what the market does and it is part of this business. As for me, I survived and will spend a good part of my weekend looking at what I did right, what I did wrong, how I can improve myself and what my strategy is going to be for next week.
But first, an adult beverage or two.....
Have a great weekend all.
Posted by Scoot | 10/19/2007 02:18:00 PM
PCurry;
Might I ask what does your posting "Clean Cups" mean?
Thanks
Posted by Anonymous | 10/19/2007 06:56:00 PM
Krystal;
So did you get a ride out of the breakout on CNQ and (as the Gambler would say "know when to fold em'..................?") ditto for ELON.
GYM
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