First of all, it’s freaking gorgeous here in Phoenix. It will be until July.
It was a great week for me as I got my book off to the publishers and MyTrade announced their acquisition and relaunch. We close a big new investment this week and a good friend closed a large financing for his company where I am an advisor.
Max’s basketball team is our sore weak spot as the old ‘Shock and Awe’ championship squad has lost two straight.
The markets suck, but that has not stopped Yahoo from showing some cojones and playing flinch with Microsoft. TechMeme is aglow with the Yahoo rejection letter to Microsoft.
Microsoft just can’t win in this deal. They are a cornered cat and have played their hand. Hopefully for their shareholders, they just tell Yahoo to ‘F#$k Off’ and lower their bid for every week that Yahoo stays plays coy. Both Microsoft and Yahoo need to do major reconstructions so mashing them together is just dumb which I have said from minute one. The market has voted as well.
You fight the tape and you lose. You don’t cut losers, you lose. You hope, you lose. If you are a Microsoft employee, you collect your salary and you send out resumes.
The market looks bored and tired of going down. I would love a quiet week in the markets so I can just catch up a touch.
For now, i have given up trading stocks (given headline risk). The ProShares Ultra ETF’s (both long and short) are perfect for this “volatility trade” market.
I don’t know if shorts are bored, but they are a bit more nervous to short the sectors that have been trounced. What is left to the downside if they are wrong at this point. Long players are tentative because the momo names have been pounded and no longer qualify as a momo trade if you use the IBD 100 as a guide. This is typical of a market redefining itself. New names and new sectors to moniter for the next rally. A buy-the-high list player is patient here and letting the new trends develop before going full boat in.
I would like the volatility to decrease as well, allowing the trend trade to start becoming the game again. The volatility trade requires either too much gambling or patience (buy oversold, sell overbought).
For a good look at overbought/oversold sectors, i like the BESPOKE charts they give us for each SPX sector. Right now, tech looks ready for a bounce.
Howard! What MyTrade needs is a portfolio tracker like stockalicious (which is down today, @#@$@) that is linked to my(Paper)Trade functionality but can be inserted as a widget on ones own blog.
i.e. my(Paper)Trade needs to expand to allow for historical transactions so that we can enter our actual trades that we took even if we no longer can get an execution on my(Paper)Trade because the price moved.
In addition we should be able to load the portfolio on our own blogs with links back to myTrade.
A portfolio tracker would alleviate the issue that came up in the comments the other day about only reporting winners after the fact.
If they provide the portfolio as a JSON feed then it would be very simple to add it to a blog like we do with del.icio.us. I posted on my blog today explaining the functionality and it also can be found in Delicious’ help section.
‘market looks bored & tired of going down’
well put … get ready for one of those ‘stupid’ relief rallies
credit markets are very unhinged again. CMBX and LCDX may be signals for another leg down in the stock market. (sorry to be the bearer of bearish news).
nothing surprises me here and happy to be light