20080626PM

DOW 11,453.42 -358.41
NASDAQ 2,321.37 -79.89
S&P 500 1,283.15 -38.82

Oil new intraday high at 140.
Gold up 32.

Markets closed at/near low of day, though volume was not heavy. Price destruction without volume.

Press/TV seem panicked, so the "talking head indicator" appears to be calling a trade-able low. Right here, right now.
Mid-term there is more downside, particularly for techs that don't have earning power and financials.

GSS 3.45 +.3.
TRE 4.65 +.07. Look to buy.

C 17.67 -1.18 on huge volume. A short near 20 would be nice!
GM 11.43 -1.38. Big volume. Three decade low.
SRS 102.73 +6.45. Big volume. 52 week range 78.95 - 151.99.

20080624PM

DOW 11,807.43 -34.93
NASDAQ 2,368.28 -17.46
S&P 500 1,314.29 -3.71

Rolling out of commodities with some strength in financials.

BBW 7.68 -.04. Intraday new 52 week low. Light volume. Rejected low.
GNCMA 7.48 -.32.
JAVA 11.6 +.46.
MOS 142.98 -7.68. Average volume.
STT 67.88 +1.35. Rejected low. Volume light.
UWM 49.69 -1.51.
XLF 21.73 +.25. Big volume, 2X average.

20080623PM

DOW 11,842.36 -0.33
NASDAQ 2,385.74 -20.35
S&P 500 1,318.00 +0.07

Gold down 18. Rumored forced hedge fund selling.

Sold the short index positions.
Went long an index.

Barron's cover story inferred that oil is peaking. The article, in my mind, glossed over why oil won't significantly retract - the weak US dollar.

Some highlights in Barron's over the weekend:
USG 31.22 -1.42.
PIR 4 -.8.

20080617PM

DOW 12,160.30 -108.78
NASDAQ 2,457.73 -17.05
S&P 500 1,350.93 -9.21

Possible shorts:
SLAB 34.18 -.30
CIEN 26.11 -1.21
CME 441.82 -22.41
SOHU 81.46 -1.02

20080612PM JAVA YHOO BAC

DOW 12,141.58 +57.81
NASDAQ 2,404.35 +10.34
S&P 500 1,339.87 +4.38

QID 41.32 -.04.
STV 14.64 -.33.
TWM 72.87 -.54.

JAVA 11.42 -.24. Intraday 52 week low.
YHOO 23.52 -2.63. Huge volume. 52 week range 18.58 - 34.08

BAC 28.83 52 week Range 28.83 - 52.96.
B of A is DOA Until Further Notice
...

What makes tech:stocker examine Bank of America today is the series of recent questionable acquisitions that leave us wondering why more analysts are not pummeling this stock?

Simply put, buying US Trust from Charles Schwab was not a smart move. While US Trust delighted Chuck and his shareholders by consistently returning a meager profit, the amount of management resources needed to guide the financial dinosaurs at US Trust was staggering. To put this in laymen's terms, it was like trying care for a 97-year-old grandfather who refuses to be placed in a nursing home.

On the heels of this announcement Bank of America announced they were buying Countrywide Financial. While many companies in financial services industry were desperately trying to rid their books of subprime mortgages, Bank of America decides to pay $4b in stock to increase their exposure to them. ...

20080611PM

DOW 12,083.77 -205.99
NASDAQ 2,394.01 -54.93
S&P 500 1,335.49 -22.95

GBN 3.31 -.12.
QID 41.36 +1.81.

AGP 23.36 -3.82. Big volume. 52 week low intraday. Looking for 20. "health insurer pulled its 2008 guidance"
CPS 48.76 +.05. Has been rising on light volume. There was heavy volume at March lows.
XLF 22.41 -.67.

20080610PM

DJIA 12,289.76 9.44
NASDAQ 2,448.94 -10.52
S&P 500 1,358.44 -3.32
Gold sold off today.

Away from trading for a couple weeks, and stopped out of many positions. As usual, should have closed the positions before leaving.

GBN 3.43 +.03. Buy order filled last week. They are pulling gold from a new mine.
QID 39.55 +.49. Went long today.

AEM 65.51 -5.24 on good volume. Going lower.
AMR 6.73 -.12. Looks to be in bad shape.
XLF 23.08 +.07. 52 week range 22.29 - 37.72. Is setting up a short opportunity.