Day Log

Here is the Day Log for 9/29/06

Disclaimer: I am NOT an investment advisor, nor do I hold any license of any sort, including a driver’s license. Don’t be dumb and do your own homework.

Will CNBC be the death of the all time high for the DJIA. I’m not a big fan of the news to start with. Thank god my other station is the History Channel. I need to learn more about tanks anyway. The big question from yesterday remains the same with the markets putting in an inside day, more or less, and another Narrow Range day We have got the volatility very tight on all the 30 minute charts which makes me think we’ll see some resolution by tomorrow. With my luck it will be a gap and I’ll miss the whole boat, along with several other traders out there.

US $ – It seems to have come off support well but has failed to break the last high. If we can get out of this base on the weekly we have the chance of a small move up.

US 30 Year Bonds – The have come to finally have a small two day rest here. My only question is can the bonds have that much momentum that it won’t take a bigger break than this?

GOLD – Gold looks like a decent short here, right between a falling 20MA & 13EMA and placing a narrow range day. The only down fall to this is that we are hanging around the 50MA on the weekly chart.

OIL – Had the hard bounce off the 60 point. Put in a big old string up today. Still a little nervous to short here due to the over extended looking weekly chart.

Strong Areas – Last Month:

Catalog & Mail Order, Home Furnishing, Auto Parts Stores, Apparel Stores, Electronic Stores, General Entertainment(Strip Clubs), Textile – Apparel Footwear, Auto Dealerships, and Investment Brokers.

KMX, UAG, RCL, BBY, GME, RSH, JWN, TLB, URBN, CHRS, CLE, LTD

Nice Looking Tau Long Stocks:

SIM, INAP, ATYT, BDC, VIP

Weak Areas – Last Month:

Energy, Shipping, Metals & Mining(tons of hammers in here), and Drug Stores

CVS, TIE, ACI, MDG, MEE, GG, FCL, STLD, SID, BHP, FTO, DRQ, TTI, OII, WHQ, OIS, BJS, SUN

Nice Looking Tau Short Stocks:

JOYG, ACI, CRB, NX

Interesting Tight:

AAWW, ANSS, HAE, CERN, UIC, AMN, IDXX, GPRO

Day Log

Day Log 9/28/06

Disclaimer: I am NOT a investment advisor, nor do I hold any license of any sort, including a drivers license. Don’t be dumb and do your own homework.

Here we are. CNBC was stupid all day. I can’t help but to think there is no way the DJIA is going to make it to an all time high. My only reasoning for this is how the media is playing this whole thing like a bad parade. The S&P & DJIA put in a Narrow Range bar today. Not the ideal thing you want to see near the highs, but the volume just keeps coming in. What you going to do. The NAS is still lagging in the Big picture but running hard off this last bottom.

US $ – It seems to have come off support well but has failed to break the last high. If we can get out of this base on the weekly we have the chance of a small move up.

US 30 Year Bonds – The have come to finally have a small two day rest here. My only question is can the bonds have that much momentum that it won’t take a bigger break than this?

GOLD – Gold looks like a decent short here, right between a falling 20MA & 13EMA and placing a narrow range day. The only down fall to this is that we are hanging around the 50MA on the weekly chart.

OIL – Had the hard bounce off the 60 point. An interesting situation may come if we get a pull back to the 71 to 73 range. That could be a tough call to make.

Strong Areas – Last Month:

Catalog & Mail Order, Home Furnishing, Auto Parts Stores, Electronic Stores, General Entertainment(Strip Clubs), Recreational Goods, Textile – Apparel Footwear, Apparel Stores, and Major Airlines.

JWN, URBN, CHRS, CLE, RCL, GME

Nice Looking Tau Long Stocks:

GIGM, INAP, SAFM, BDC, SUNH, WCG

Weak Areas – Last Month:
Energy, Shipping, Metals & Mining(tons of hammers in here), and Drug Stores

MHS, CVS, MDG, GG, CNX, OII, GRP, OIS, SII, SUN, FTI

Nice Looking Tau Short Stocks:

JOYG, SPWR, ANDE, MDR

Interesting Tight:
AAWW, ANSS, HAE, CERN, UIC, AMN, IDXX, GPRO

On the lighter side of life you have to watch this video by UGLY. This is what we need more of in this stuffy old Wall Street place.

I also came across an interesting article on TraderFeed. I love the photo at the top. As much as I love looking for article aound the web regarding trading I just can’t touch the work TraderMike does. Hats off to that guy.

Day Log

As I sit here and go through this process I can’t help but wounder why we do what we do. The life of a trader is an interesting one. First off people think you make way more money than you do. They also think that you never realy work, like it takes 5 minutes a day. I can’t help but ponder the thought that I work so hard for a job title – a trader. But no one thinks of it as the job it realy is. So I wounder why I go through this or why anyone else does either. We must be mad or determined. But I guess if you want you can trade hours for $$.
Here’s the day log:
day-log-9-21-06.pdf

Here’s to the best dog in the world – the German Shorthair: