ManyPeaks.com

My recent “less bullish” inclination has been proven wrong.
Hope that the fourth quarter’s small 1.1% GDP growth will convince the Fed to stop rate hikes has sparked a buying frenzy. Bears are really getting slaughtered.
The NYSE Composite and (of course) the Russell 2000 are hitting new All Time highs once again. Recent QQQQ […]

The indices are still holding up OK.. It now appears we’re going to have a low volatility “standoff” kind of day. I feel a little better about skipping out early.
ADTN stopped out of 1/2 my position for a 20 cent loss.
I like this bank ETF chart better (for a […]

I think this morning’s strength marks the end of the little 2 1/2 day recovery. Still got a bunch of longs, but gonna tighten some stops before heading out to Grand Targhee to ski the cowboy pow.
To match my portfolio to my market view, I shorted some Diamonds (DIA) this morning at 107.24 and […]

This bounce from Friday’s drubbing is now in it’s 2nd day. I’ve trimmed a few positions and added some shorts into the rebound as I plan for the likelihood of renewed selling pressure very soon.
Tenaris (TS) is one that I dumped in the last 2 days. Avg sell price $154. That Doji […]

The senior indicies are getting hammered here. Google down 28 points and slicing thru its 50 day moving average is not helping.
Citigroup is leading the 140 point selloff in the DJIA. Energy is about the only sector working.
However.. While the QQQQ, Dow, and S&P 500 are getting shallacked.. the real leading indexes […]

Well, Tenaris (TS) did not wait around to make new all-time highs.. I thought this would take a lot longer.
Sold out this morning and just added back 1/2 at 147.25. I’ll add the other 1/2 back if it closes in the green today.
Long TS

Mark Cuban recently posted on a topic that has always baffled me.. how Donald Trump can possibly be considered a business succcess. Mark’s thoughts are very entertaining, and as a multibillionaire he of course has more of a leg to stand on with his insults.
All I can think is Trump is one hell […]

Small cap stocks are really rocking. The IWM was even up yesterday as the senior indices got worked by YHOO, INTC, IBM earnings debacles. Today it is not playing around.. up 2+% !!
Although lagging in performance today, my accounts are at new all-time highs.. and I’ve been shaken out of most short […]

Today I plan to go against my usual strategy of avoiding stocks as they announce earnings.
The Internet search advertising space has be so hot.. I think the prospect of a downside surprise in Yahoo’s earnings is a low probability event.
More importantly, the stock has sold off sharply in the last week.. so it’s […]

Good morning from Jackson, Wyoming.
This is my first trading day in the Mountain Time Zone since my rookie year in the business. I had forgotten how nice it really is to start the trading day 2 hours earlier. Early start, then plenty of time for fun in the afternoon.
It’s snowing here […]