No we're not talking YIN - YANG, we already have an understanding of how things work in the speculative market down in China that has more bubbles than MariaB has in her lips. We're talking the YII, the Yhoo, Ibm, Intc. This is in part is what we have been waiting for and soon enough their earnings and their outlook will start to cause everything to happen....good or bad. Hopefully the YII won't be the start of the YIN, but instead the YANG and we could go upward and strong into the New Year. Yesterday was just a pure lame trading environment, most traders seemingly stayed on the sidelines early while the few around picked up anything they could to take advantage of the boredom while most looked ahead to today and the week of tech earnings. This included playing off the noise in good olde Oil, Citigroup..whatever they could get their hands on to create a negative spin. Simply, we tossed this all aside, it is all pretty irrelevant in the scope of things, the scope of earnings coming up. As traders our gig is too seek opportunities, no matter where they might arise. We cannot dwell on things we cannot control such as the subprime, oil highs etc. and now earnings. There will always be something to work off and if the earnings do not provide the backdrop we love to work with, we will just have to change our tone and seek opportunities elsewhere. What we have had is an excellent enviro to trade the past month or so, you don't need many more chances than the one you just had to make for a very profitable year. There has been more than one stretch this year to make your year, most times you can make your profits in a short time and then shut it off. We have always stressed this if you catch up on your Journals. So, what we are saying is we could shut it down for the year, but we love this gig too much and want to love it more into the New Year with all of you here. It is not about greed, it's about loving the venue and winning in it. In essence you are competing, a sport of sorts but we are not going to risk our winnings shamelessly if the market hints at shutting it down and only looking very selectively at opportunities. Yesterday, we had an early probability of a selective play to get us all through the day, it could have got you a nice morning and /or afternoon if you got tuned in early from our Journal....
EDU, everything we wanted to say about it possibly today, we said yesterday. We're glad most saw the report the way we did and perked it up two times yesterday. A nice few hours into the close. If you kept some of the EDU at bargain prices when alerted Friday into the earnings, well then you really did well!. If you want more on it, a suggestion is to find the transcript (try the yahoo page on EDU) of the CC and learn more about this story.
CETV, we love these $100 dollar kinda of plays because before you blink they are up 6-7% as is the case with CETV since we picked it up last week. We like these recent and not highly followed breakouts instead of the daily momo ones that can fall quickly down an elevator shaft and take your profits with them.
DRYS TBSI EXM, yeah yeah..what else is new, just more NCH's and more price tgt increases this am.lol This story ain't going away heading into the New Year as we've noted before, but after this latest binge run we are more cautious and prefer a pullback to go with a worthy position overnight. Lets just say, we liked a TBSI more at $50 recently than at $60 now. In the meantime, we are trading these intraday and feeeding off the morning tone in these..no not in premk, but an hour or so in the day.