Hope Not Wish Not

Hope not for easy success in one’s work, because without difficulties and failures, one tends to undervalue others and become overly proud.

Wish not for a life free of mishaps and obstacles, because without them one tends to become arrogant and egotistic.

Today I was hoping for SRS to stay above 60, but at the same time wishing for 55.

Last Friday, I bought SRS at 60, went to 67+, closed at 59+

Today, I sold at 65, saw it drop down to 62+ before going to work and feeling pretty good.

You cannot outsmart the market !!!

If you don't know SRS is my favorite trade, then you really need to read more carefully because I have been talking about the stocks for weeks now.



The daily scan using 4,8,21 did not have very good results today, plus the market is down. However, the system has been great for day trading.



The market is dynamic, not static, and you need to adjust accordingly.

3 ETFs showed up on the daily 4,8,21 scan today: QID, SMN, MZZ.

Posted by fortune8

Look Not

Unless you have read my blog in the past, I am going to repeat quotes from The Ten Commandments of Mindfulness.

Look not for a universal consensus regarding one’s personal opinion, because complete adoption to a single opinion will render narrow mindedness.

>Weekly ETF analysis

>OIH Chart

Into the Weekend

So I'm not sipping cognac at the hottest joint in Houston today. No to worry, I still did rather well today. I was able to establish a hefty position in FAS at 11.50, as it slipped into the .30s I added to my position and continued to add into 11.90s. I sold off about 50% of my position at 13.20. It was a pretty good day after all.

Going into the long weekend I am holding FAS, DXO, and the black hole known as C. I am optimistic about the future of financials for the next couple of trading days. I think FAS will rally before financials die again. I don't think the bear market is done but I think a small bull rally is in order.

I'm papered to see what the government has offer for these banks because I keep seeing stories such as : U.S. to Nationalize Citigroup Inc. and Bank of America Corp. Frankly I hope "the government" takes over these idiots and pay the share holders a hefty premium and pass it onto the tax payers. I wouldn't lose a night of sleep over this because in the end these are the same stupid tax payers that put their congressmen in office.

In other news, I stopped by my Apple store to buy a wireless mouse for my new Mac only to find out they wanted 80 bucks for it. I love to toss money out of the windows as the next guy but I feel like I should be entitled to a discount because I just got ass fucked paying 2,500 for laptop and it didn't even come with headphones. Instead I ended up buying a 3 dollar mouse called "Arc" by Microsoft and it's the best mouse I've used my entire life.

Year of the Bear Times 3!

In the past day we have seen a huge bear market in the Financials, FAZ (FINANCIAL BEAR 3X) is up over 50% in the last 5 days all because of the death of C and other stupid banks that deserve what they got. I say that the government should let these idiots burn for their stupid mistakes so the future generation can learn from them. BUT! Because I still have to pay for my college loans and car note I hope these idiots keep on lending.

FAZ dropped nearly 6% after markets today, I guess the market felt a little selfish for taking the banks out to the woodshed and take care of that broken leg once in for all. I think we are to see a little rally before the banks take the final plunge thus I am going to be increasing my position in FAS (FINANCIAL BULL 3X.) I will be watching the market in the early hours and I think we will see a small reversal in the after hours activities and then I will make my move!

If all goes to plan I will be sipping on a bottle of fine whiskey in the hottest joint in Houston.

Luck

Luck favors the prepared!



I know that I keep saying the same thing and it is to ingrain it in your mind.



Now, let's look at how those watch list turned out.









Do you see anything common in the chart?

Notice how I keep showing you how the system works.

Did I buy any of those stock? No I did not!!! Remember, I work.

Read This Nothing was happening in the morning and it all changed later in the day.

Posted by fortune8

DXO : PowerShares DB Crude to be Number #1 in 2009

According to several investors over at TheStockAdvisors.Com, the stock of 2009 should have something to do with oil. In the recently published list of top 75 stock, oil is mentioned most. In fact DXO is mentioned by some analyst named Doug Fabian who says that DXO is gonna be the shit in 2009. Those are not his exact words but they go something like this :

I like oil at its year-end 2008 bargain prices. One way to invest in oil and ride its likely rebound during 2009 is to buy the PowerShares DB Crude ETN

As for me, I'm cashing all my checks and buying more DXO! Looking to add to my position below 2.80.

One a side note : The other day i told everyone to buy JSDA on twitter. Some listened, we are up 25%. I say that's a WIN! After that note I sold out of my JSDA position.

Current Holdings

My list of current holdings is limited at the current time. My lack of confidence in the markets has led me to hoard my cash until something horrible happens thus 60% of my portfolio is cash.

Current Holdings:

C : Looking to hold long term
FXP : Small term trade, looking to unload this week (hopefully)
DXO : Mid term trade
JSDA : Speculative pick
XOM: Shot selling this bad boy

Some might be wondering why I am long DXO while shorting XOM. Does this make any sense? Well, I am hoping for some form of international conflict to cause a hike in oil prices in the near future, things seem to be tense in the Middle East and this could lend to my advantage. Furthermore, I susceptive OPEC won't let oil prices dip to much because WHO THE FUCK LIKES TO LOSE MONEY? They might as well shut down production for a couple of months rather than lose money to filthy Americans!

Blog

This is where I will post the most interesting thoughts that are in my head, mostly regarding stocks.