Sold out

Well overal today was a plus. Sold most my positions at the open. And rebought around 780 on the S&P which turned out to be gold at the close.

Sold DO $64.31 CLF $17 CELG $45.55

then around 115 bought DO $63.92 MS$22 JPM$25 CELG $45 added FCX $38.37 and with QID making a gain today on a 3% market down day. I lost 0.1%. With the close below the 50 DMA on the S&P we could be tunring back bearish. I will be watching this closely. DO closed today $65

https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg40cYOn8kkcbCYBavIzMalYCnK2eWRZagm7dNr4z-Rrl9pL8PclMnxeOFi3dDlOHcGoLed6QO71gTvOqYEs8Y5G1llHyg5KIYrR5n7ukGOvaSmv5sew4q6crSu-JlVaANggxMvlOoCtjY/s1600-h/stock_charts_1_03-30-09.png

May tomorrow be another day...

QOD-- "Yea, talking monkey! Ugly littler suckers. Only say FICUS!" Gay Perry (AKA Val Kilmer in Kiss Kiss Bang Bang)

Futures dropping...

Futures

DOW -81

SP -10

NAS -14

This could drop us at the open to the critical 800 level on the SP. If we close below there, we will test the lows. I will hold my QID til we either hit or break SP666. Then I will buy JPM MS. Rock on twizzlestix

been out a bit...

Overall, Revamped my position currenly here is the portfolio:

QID 18% (short the Q's)
CELG 14%
DO 25%
X 5%
FCX 19%
CLF 14%
CASH 5%

I am also going to buy more X come Tuesday and will look to lighten up my mineral position with FCX and CLF both in the portfolio but both have been on fire. As long as the S&P stays above 800 on the close I will stay long. We break it on the close. I will close all my longs and go short. Finnies are still to be had and I will be looking to buy MS JPM on any weakness. Jamie Dimon commented today that JPM is having a tough coupple months and man would I love to see a bad quarter to get back in this puppy. Anything bad will turn the market south with the Finnies leading us out with Tech also. GL peeps!

Target buys
MS below $19
JPM below $20

here is the link for the Dimon comment
http://www.reuters.com/article/marketsNews/idUSN2735918020090327

Geithener plan leaked

Looks like Geithener's plan has been leaked on to the internet

http://www.cnbc.com/id/29829960

He really does not say much more than he did back in Feb and the markets did not like it then so why now??? FAZ SDS getting a beating in the premarket so looks like I further away from profit again. POOP! Still holding because I feel we still  have a leg down and the SP is still sitting too high a P/E multiple basis I see it around 660ish.

Futures

DOW +216

NAS +32

SP +24

Futures looking strong...

Dow +57

SP +10

Nasdaq +12

This market has not changed and I am in settlement currently so I have to sit tight. No trades for me until at least Wednesday.

Current buy ideas

I am looking to get long after I sell off my short position (below S&P740). Currently I am looking at positioning myself with a bit of diversification and looking to hold long for a bit while keeping small short positions also. I will be buying in 2% increments. And balancing my portfolio into about 5-10% sectors with Financial, Oil, Tech, Industrials, and Biotech/Healthcare.

Buylist:

FCX DO RIG TS HESS CELG GILD JPM MS GS RIMM CSCO DE CAT FWLT

Current Portfolio

Stocks--FAZ 60% SDS 39% DO 1% 

Coins-- 28oz Silver bullion(approx value ~$360) 1/10oz platinum (approx value ~$200) and multiple coins and proof sets (approx value ~$500)

Rock on 

Buying

I will be looking to buy stocks around a SP of 740-700.

Buys currently : 

FCX-- This stock is on fire and I want in on a pullback $30ish

DO-- number two driller with $8 dividend annually (adding around $60)

RIG-- P/E of 4 currently and number one driller ($50-$55)

MS-- investment bank and like it in the teens (below $20)

CSCO-- Cash cow ($15ish)

CELG-- Biotech with Balls ($45)

BUT I will have to sell some FAZ SDS to buy anything and I still have losses to recoup on them and will wait it out. I see alot of downside right now and you have to love when Cramer tells the public to "take some of it off the table". SELL SELL SELL.

Nice Day

 Today made about 9%(+$206.30) with FAZ up 15% and SDS up 4% while my small DO position lost 5%.  I slept most the day and woke up around 215 and saw some weakness showing in SDS so I sold my entire position and bought it back 3 mins later to drop my avg $0.27. This was something new I tried. I failed on FAZ because I got greedy. Sold it $33.45 and could have bought back at $33.00 but could not pull the trigger fast enough and before you know it, it was back at $33.46 where my buy went in. So pooped that one. Oh well win some, lose some. 

S&P closed below 770 which should provide some bearish sentiment to kick back in. We will see how Monday plays out. 

Chart Following

Watching the SP500:

Break below 770 and we could spiral down. If it breaks 800, and closes over it I will close my FAZ and SDS as this would be a continuation of the rally. Bernake is speaking around noon. Big Ben has been the saviour as of late. Lets hope tomorrow is another day. Til then...

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Current Portfolio

FAZ 60% avg $41

SDS 39% avg $95

DO 1% avg $55

2009 (-10%)


I am currently bearish and looking for the S&P to break down under 770 at the open. Futures are trending lower at the moment and look to signal a lower opening and tomorrow is what they call a "Quadruple Witch". I have no clue what the cards hold but I am currently 99% short but looking to get into FCX RIG MS GS JPM and add to DO when the time is right. When that will be I have no clue currently. Rock On.

Investopedia explains:
What Does Quadruple Witching Mean?
A day on which contracts for stock index futures, stock index options, stock options and single stock futures (SSF) all expire. This is similar to the triple witching hour, except that the quadruple witching hour sees also the expiry of SSFs. Quadruple witching days occur on the third Friday of March, June, September and December.


DOW (mini)
FUTURES
FUTURES FAIR VALUE (4.8)

7400.8
7284.0
-68.00

7356.8
7284.0
-72.80
S&P 500
FUTURES
FUTURES FAIR VALUE (0.94)

784.04
772.5
-7.60

781.04
772.5
-8.54
NASDAQ
FUTURES
FUTURES FAIR VALUE (1.96)

1204.21
1203.5
-9.25

1205.46
1203.5
-1.96