Same pattern as yesterday, futures down all night only to find them up a few bucks as we grab a cup o joe. Retail sales were apparently pretty good (im to tired to think of a good way to knock this data). Bonds are getting whacked this morning for a point, Oil is a tad higher, keep an eye on GNW, company has announced a 500 million dollar offering and the stock is gapping higher, Im long gamma in this name and will look to short some stock today (patience young jedi) as my deltas direct. CHK has been on a moonshot lately, Im going to look to buy more gamma in there. Casino stocks have been roaring lately, these could be long premium candidates.
Trading is a humbling game, some days you feel like superman and somedays you feel like Lex luthor, "foiled again". And its one of those things where effort does not matter, you get graded by one thing only $$$.
We'll see what the BULL market of 2009 brings today.
JB
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The Roman god Janus (January comes from the name), often portarated as two faces, has come to symbolize change and transition, such as progression from past to future or from one condition to another -- good and evil, prosperity and poverty etc.
ReplyDeleteI now apply the name Janus to the market and proclaim the god to be bogus. There are not two faces, only one. The market knows only unfettered naive optimism. There is no face of caution or reality to counter it. It only exists to be pushed and ridden upwards -- any meager good news will be exxagerated and bad news explained away.
Janus of the markets is dead.
fp
agreed
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