RandomWalkTrading.com
1–(855)–RWT-0008
Wednesday February 26, 2014
The Dow closed down 27.48 at 16,179.66
The market is stuck in the mud, but about to free itself.
AAPL closed down $5.49, which is almost a bullish day for this stock of late.
The close was 522.06. But that is the personality of this thing. It falls for days and days, then runs higher for days and days – independent of the overall market.
The VIX closed down 0.56 at 13.67
The TLT closed up 0.95 at 107.35
POT people, it is almost time I short this stinker again.
GLD = closed up 0.22 at 129.21
SLV = closed down 0.16 at 21.02
Tesla closed up an astounding $30.35 at 248.00 That makes it a $30.45 billion dollar company.
To put things in perspective:
Campbell’s Soup is a $13.8 billion company.
It is half the Cap of Ford or GM.
Sony is a 18 billion Cap stock
United Airlines is a 17 billion company
Yesterday
Another stinker day where the market tried to go higher, but failed. This is getting old, but the market is staying strongly above 16,000.
Today
I really feel that if the market wanted to go down the Dow would be hovering closer to 16,000. In addition, all the major indexes (other than the Dow) are at all time highs. Stupid stocks like TSLA (which I love the company but hate the valuations) are trading crazy. This is pure speculation and POT people saw me get short that stock yesterday.
The currencies are acting very favorably for an UP morning, but a lot of that will hinge on the outcome of the economic numbers out today. Don’t forget new home sales at 10:00 (30 mins after the open). The market has been shrugging off a lot of bad news, and Case-Schiller has the markets conditioned for bad home sales. If they are decent this market will take off, gold will run higher, and bonds (TLT) will fall).
New POT people. Keep in mind that new people are always lost for a while. You are coming to a movie that has been going on for a while, so it will take a few days to catch up to the plot and characters.
POT people.
I have been quiet so far this month. The market is not doing anything and patience is the hardest part of trading.
That goes for my artist friend Art S who is just starting to trade, as well. I know when first learning to trade you feel inaction is no action. In trading, patience is the best action there is. You can check out his affordable art at:
He can do portraits of your dog, family, or me. Opps, he has already done that last one.
Too True To Be Funny
(Never a joke, but always funny)
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Attorney Stuff
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Trading is almost as much fun as black jack in Vegas, but without all the annoying distractions of free drinks, Broadway shows, gorgeous people with low morals, and free buffets. It also has about the same odds of success, so when you lose all your money you wont have to walk past a smiling pit boss. Even Bruce Wayne lost everything with options in The Dark Knight Rises, and Superman keeps his day job at the DailyPlanet newspaper.
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