Monthly Archives: August 2010

Existing Home Sales Plunge, Unemployment to do the reverse

Posted by K on August 24, 2010
General / 4 Comments

Existing Home Sales which are more important than the new home sales data plunged over 27% year over year, the amount of sales was the lowest since 1995. At the current pace it will take over 1 year (yes 12+ months) to sell the existing houses out there.

People have begun losing their jobs once again after a few months of lowering unemployment claims. How do I back this up? No data other than I now have more than one close acquaintance that within the next 2-3 weeks will receive a pink slip. They survived during the worst of it all and now employers are deciding its time to let go. Thats amazing! Keep your profits because you wont be making as much money in the future with 15% of the american workforce unable to afford staples such as bread without a food stamp.

On the currency front according to ZeroHedge

And once again, all of Europe is dumping its deposits in Switzerland, running away from domestic banking centers, and making the lives of Hungarian CHF-denominated debtors a living hell. The EURCHF just hit an all time low of 1.3066. The Bank intervention sonar just went apeshit as both the BoJ and the SNB are fully expected to intervene at any moment.

Technically Speaking? See for yourself how the market has acted recently especially since I officially returned from break August 6th.

K- August 6th, 2010
vacation just ended today so it will take me at least a week to slowly get the groove back. be patient this time…

Euro/Usd and SPX have been in a water slide since.  Its hard getting from Information overload mode to 2 month no internet and back to information overload so I tire out by all the information I once processed in a usual day so the recovery process puts me on tract to return trading right after labor day and the Special chart that hasn’t been posted here in a bit as well. (Click to Enlarge)

Happy Trading and make money trading not listening to baldies at CNBC unless he entertains you and the advice isnt followed. 🙂

-K

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The Perfectly Timed Vacation

Posted by K on August 08, 2010
General / 9 Comments

It’s been six weeks and the stockless and unwired vacation has wound down. To my surprise I see that BP bottomed right when I covered my July puts at a profit and since its nearly 39% up. Euro went from 1.22’s to 1.33’s and so on. Its time for me to find the reigns and take control of the market once more.

It will be a week or two until I get my trading groove on but for now i’ve updated the Current Pick’s page on top.
here are the main indices.

Market Indices

Symbol Description Buy Date Sell Date
$SPX
S&P 500 INDEX
7-7-2010
SPY
SPDR S&P 500 ETF
7-7-2010
$INDU
Dow Jones Industrial Average
7-7-2010
$COMPX
NASDAQ Composite
7-8-2010
QQQQ
PowerShares QQQ (ETF)
7-8-2010
IWM
iShares Russell 2000 Index (ETF)
8-6-2010

Hope its been a profitable 100 point market move for my fellow readers and here’s to more fun swings to come.

-K

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