Monday, March 9, 2009

Early Weakness

Europe is lower and Japan closed at a 26 year low. The banks are the problem again in London and Merck is making a bid for Schering- Plough. 99% of NYSE listed stocks are at or below their 200 day moving averages according to Marketwatch, what a statistic.

I'm playing it very carefully today (as usual) and will be watching with great interest for a possible turn. My friend Brian Shannon has been doing some great work over on his blog Alphatrends if you trade or invest he is a much read/watch. I have put his site on the "idea flow" section of the blog as well.

Also, please let me know if you didn't receive my newsletter last night, I had some Internet connection problems in my neck of the woods yesterday and I want to make sure it went out to everyone who subscribes. It also gets fed to twitter so you can find it there. Thanks guys and have a profitable day.


About Me

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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.