Prepared by the good people at Random Walk, LLC. (and Scott)
Yesterday and Today
Yesterday
Another slow day. I was showing people in POT class last night how tight the ranges in the SPX have been since we got back to SPX 2100.
The markets were down a little until the end of the day when there was a little capitalization in the Eminis, falling from -5 to -9.50.
But what is quiet in the overall market is misleading to individual names. Macy’s reported earnings and the stock fell 14%. There have been a lot of names this season that have gone nuts, moving +/- 10% or more after earnings.
This should die down now as 93% of the stocks in the S&P500 have reported. Overall things are dismal for earnings if you factor in the energy sector. Take that out and it is a good quarter.
What is amazing is the Alibaba’s (BABA) made up holiday ā Singles Day ā had sales surge 60% to 14.3 BILLION. They were doing 88,000 transactions a minute. Now I am sure the Obamacare website cost $5 bln to make, so it can handle that too. But what is amazing is the stock was still down on the day.
TODAY
I have been saying I expect Dow 18,000 as early as Friday. Tomorrow is retail sales. The only way that is going to happen by Friday now is if we have a decent day higher today, otherwise 298 points to the upside is asking too much.
SEMINAR
January 20, 21, 22
Free Dinner Cruise Thursday January 21
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Last night you asked for Bill Akman’s positions: Here they are:
A few updates coming today.
POT is held each Wednesday night at 7:00pm eastern.
Below are reprints of the best cartoons I have found.
Too True To Be Funny
Now why did I not think of this? Spending all this time learning the stock market when I could have taken a cruise to Hawaii and been tapped with a sliding door. BTW..the man did get off the ship and enjoy the vacation. He was not diagnosed brain dead. Things like this are what is wrong with America.
Attorney Stuff
DISCLAIMER (Seriously!)
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 Daily Planet newspaper.
We have the utmost respect for our attorneys who tell us any attempt to trade is throwing money out the window, and investing is risky business (still a great movie). Past performance doesnāt mean a thing. The future is even scarier. Random Walk and everyone associated with it promises absolutely nothing. We guarantee nothing. We wont ever do anything right unless it is an accident.
Random Walk only provides education (and a great cup of Starbucks if you visit our office). If you want advice please consult an attorney, licensed broker, Joe Kearnan, tax consultant, investment adviser, etc. Random Walk, LLC is full of morons, dolts, has-been(s), chromosome damaged individuals, thieves, losers, and carnival barkers. Any attempt to find a semblance of intelligence or integrity in Random Walk would be a waste of time. We will sell products, but advise against buying them. We Do Not Give Advice.
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