Good morning. Happy Friday.
The Asian/Pacific markets closed mostly up – China dropped almost 1%, but Hong Kong, Indonesia, South Korea and Taiwan each moved up almost 2%. Europe is currently mostly down – there are no standout winners or losers. Futrues here in the States point toward a flat open for the cash market.
Options expire today. At the beginning of the week, the open-interest data suggested a flat or slightly down week was needed to cause the most pain. So far we’ve gotten an up week, so a few call buyers will make money.
The market is closed Monday for Washington’s b-day. Given the light volume the last five days, it’s likely we get more of the same ahead of the 3-day weekend.
The song remains the same, so I don’t have anything to add to what I’ve already stated this week. The market wants to go up, and nothing thrown in its way has been able to cause even a little hiccup. Whether it be poor earnings, poor economic numbers, unrest overseas, technical indicators being overbought or breadth indicators hitting extreme levels, the market has continued on with a 1-track mind. Heck even good news which under normal circumstances may cause a “buy the rumor, sell the news” scenario has been taken in stride.
Long is the only way to be. More after the open.
headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s Earnings Reports
this week’s Economic Numbers
0 thoughts on “Before the Open (Feb 18)”
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Today, the day before the long holiday weekend, usually has an upside bias to it.
I may throw caution to the wind and go super leverage long in the final hour
of trading today. Hey, what the heck. If I go broke I have a fairly decent
line of credit with our in house guru, Neal Dow 12,000 +/- 500 points. HW
The Chinese CB has raised rates .5% again, and the G20 meeting is saying that the EU will need higher rates soon. Meanwhile Portugal has its long bond at 7%, portending nothing yet, but you know what is happening. Germany was saying this morning that they are no willing to tax themselves to bail-out Club Med. Tim the Treasurer appears at the G20 to explain the American dream and the stuff we smoke to have it. At home Wisc shows signs of being little Egypt, run away legislators and all.
What bothers a market are steroids? Answer : nothing that I can see. Keep going Ben!
post (#2) : knowing what I know about the market, today I will
pay attention to ‘buy’ into today and ‘sell’ going into next week.
Maybe a push into the final hour of trading today and then
a sudden drop early next week. HW
the only thing I am plugging in is my bass guitar and going to the Chicago Blues Festival. HW
im short the ftse and ndx–for how long –dont know
usa futures open mon –i hope –so i can trade it mon morn our time or sun nite yours
just couldnt help myself–took profits on ndx from todays high which was y/days high piviot to
S1 piviot just above y/days low—ndx is ur weakest market atm
Neal –ur futures markets open at 10am sydney time mon morn–so i can trade the cash equivelent or futures of ndx/spx/dji mon morn our time
back in short at lower high main piviot ndx
but this is not a daytrading forum u understand