Wednesday, March 5, 2008

Strap In !!!

The long awaited ABK news finally came out and it was a none event, not only is the stock down $1.50 but the market pulled a "sell the news." We are rolling over now and it looks like the buyers have vanished. NUAN is not showing any follow through from yesterday and unless the market turns it probably won't get there today. Remember yesterday it rallied hard the last hour,but the market was cooperating. Oil is $103.85 right here and the oils are flying. It would not surprise me to see a complete giveback of yesterday

2 comments:

Stewie said...

dude. this market has been a real pain in the ass to trade. I was nicely today then the ABK halt came out and i found my self long 1000 skf when it tanked hard, so i sold in a panic for a 3K loss. I HATE this news driven market but thank god to 2-3 nice trades i found myself down slightly on day but still up on the week. I am kinda pissed, b/c if it wasn;t for that BS ABK news halt, i'd be up over 5k on the week. I hate ABK, MBI, Gasparino, the FED and anyone who interrupts an orderly market. Just let the market be the market and QUIT postponing the inevitable.

upsidetrader said...

diito that stew-i got chopped up like a cobb salad and agree with everything you say.it was really tough -i was up nicely in the morning and gave back and the some-just tough.i may sit out today and wait for the "number" tomorrow. i said earlier this week that this week and next will resolve which way we are going to go and i'm not sure i want to get in the way of it here.love ya and good luck

upside

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.