8000 even

The ''line in the sand''. Today the Dow closed right on 8000. This is getting interesting. All of the lagging indicators(unemployment, GDP, etc) are horrible, but can they get worse. It sure feels like sentiment is as bad as its ever been. The market should let us know if Obamanomics can save us. We should see a signal in the next week or two.

G-G-G-GEO!

I haven't done my usual full due diligence yet, but just put (GEO) group on the radar as a potential short. They run prisons and a huge contract is the Guantanamo Bay lock up. Obama gonna shut it down. They've also had some other bad press.

The scariest Chart ever?

http://seekingalpha.com/article/115525-the-scariest-chart-ever?source=feed

Line in the sand

The s&p is a better index than the Dow in my opinion but the fact is much of the public and media focus is on the Dow. That makes the Dow a big component in investment psychology and sentiment. Today the Dow closed below 8000. This is a big level for the Dow. Does it whipsaw back up or extend down to sub 7000 levels? HUGE>

Expiration Date

I'll miss W. Really I will. OK so he wasn't the sharpest tool in the shed. But did you see those shoe ducking skills? He wasn't the best public speaker in the world. But I believe he loves his country deep down to his core.
No more speech clips on Letterman. No more monkey face compilations. We can only hope that Obama starts making some great blunders.
Goodbye, George W.

Thurs AAPL ORB trade

Yesterday I posted about AAPL and to watch it's first 10 to 15 minute open range. The range was broken to the upside which did indicate direction for the day, however..if you did get long you had to be able to handle a bit of heat. Soon after breaking the OR high it fell almost down to hit a new low.
The S&P closed well and indicates a short term bullish signal. And we see that in this mornings futures.
I will be looking to buy pullbacks today unless the opening range is broken to the downside.

AAPL Pie

8:50am and the futures have come back to nearly unchanged after digesting the Apple news from yesterday. I'll be keeping an eye on AAPL shares and the opening range break of the first 10-15minutes should dictate the rest of the day.

A follow up to ABX: looks like ABX is starting to roll over. But patience is key as I need to wait for the trigger. IF a position is entered I wil post the target and stop prices.

There's a new show on BBC called , Million Dollar Traders. Sort of like Richard Dennis' Turtle experiment, six people with no trading experience are hired by a hedge fund manager to trade for the fund. Good stuff. Here's a link to the youtube video. It's six ten minute segments

Pre open

Here are some for today's watch list. Futures all pointing down , will we test the lows or are the bears being set up?

Gold bugs, death or glory?

I have no bias towards gold. To have bias in trading can be a VERY bad thing. Taking a directional trade can sometimes be seen as a bias, but it is not. I've put ABX on watch today. It closed up with decent volume. If this rally is met with heavy resistance and breaks below the recent low (redline on chart) I will enter a short position.