Evening Thread

A couple of the local "girls"

This was actually a very efficient day.  You could have gotten nearly the full range of trading even if you spent the morning biking and early afternoon recovering from the accident.  Buy at 2:30 and sell at 3:15.  Put on some shorts at 3:20 and cover at the close.  Time for umbrella drinks.

Afternoon Thread



Shoulda stayed on the beach today.

The market has traded in a tight range so far.  Weakness in tech stocks and strength in the DJ-30 with the SP-500 somewhere in between has been the story.  Timmy G hasn't said anything controversial and the news has been mostly benign.

Evan's accident turned out to be a hit and run but he only suffered scrapes on knees and elbows.  I expect he'll be back at it after some medicinal whiskey and a couple of hugs from his sweetie.


Morning Thread

Evan found a decent hotel. I'm jealous.

Looks like the markets have digested the S&P downgrade of the EZ 17.  Angela Merkel is jawboning with apparent success.  While it appears the strategy continues to be the chorus line can can kick the bond vigilantes are backing off for the time being. 

We did not close above the 200 day simple moving average on the SP-500 yesterday and that is an issue in my mind.  Clearing that hurdle and then consolidating for a couple of days would set the stage for an attempt at 1300.  Of course with Timmy G. across the pond we should expect the markets to continue to be headline driven.  Profits should be protected and a constant vigil is required.  If that's not your style then this week may not be much fun.  Good luck to all.