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8/24/2009 Agenda08.24.2009
Obama to reappoint Ben Bernanke as Fed chair for the second term. slight profit taking today as traders sorting out a direction. speculations of a steep correction is still in the air yet sentiment is still positive. Oil over $75.
eerieeee.....no fear, no mistakes!
Kids are not exactly thrilled to get back to school, and the first thing they said after got back today was that they can't wait for the summer to come...
well, atleast they got the lunch menu memorized and they got really excited on the new vending machine in the school gym.
8.25.26.27.2009
8th wining day on Dow. Dow: 9581 Nasdaq: 2028 S&P: 1031 Oil: $72.68 Gold: $947
past four days on momentum trades. AIG FNM FRE ABK MBI CIT C GNW VG KFN PMI RAS and all the usual dead cats came alive.
VIX should be ready to spike soon. this market just refuse to go down. Teddy Kennedy die at 77.
08.28.29.30.2009
Katrina 4 years.
Went to the beach with kids again and they absolutely had a blast. it's great to be able to relax on the weekends and able to spend some fun time with them.
Justin really wanted to try the jet ski, boys are becoming more adventurous and are more like teens. Jess bought a new ML 4matic.
Shanghai down nearly 5% at opening.
08.31.2009
Day trade. PMI came in strong at 50.0 yet minor pull back on the note of correction. valuation is reach on the top end but still has upside potential on mometum.
waiting for job data to set the short-med trend.
New chinese restaurant opened nearby and it's authentic Cantonese cuisine, so glad that we finally have some decent chinese food here. love it!
09.01.2009
Market singing"wake me up when September ends..." today. dramatic pull back as better-than-expected data no longer fuels the market and profit-taking with a bit of panic selling dictated the downward momentum for most of the day. Got caught in a tailspin with minor loss, now it's about time to decide whether the long-waited correction is underway or this is just a healthy pull back to lure in more buyers. liquidated long-term holdings and trading account ready to trade this volatility. God bless America, God bless me. Dow: 9310 -186, S&P: 998 -23, Nasdaq: 1969 -40 Oil: $68.44 Gold: $955.30 09.02.03.04.05.06.07.2009 Labor Day weekend and an extra day for kids to play! With this week ended as unemployment came in at 9.7% and job loss at 216,000, but I guess that's better than expected as Dow surged 97 pts, gold approaching $1000 mark again. This recession so far has claimed 7.4 million jobs. 5 more banks failed this week and total of 89 in 2009. As the summer is offically over next week, things should get busy on Wall St., but I doubt the volatility will heat up as poeple are still gaming on which direction we will go forward from here in the near term. Correction or not, that's a million dollar question. On the gay side, and I mean GAY as in boys like boys, Southern Decadence Party in the French Quarter is on. After been cancelled for the past two years on the hurricane fears, this year plenty of peple are in the Quarter for the event, and I am somehow relieved that poeple, gays or not, are still coming to Nawlins for a fun and wild weekend. 09.04.2009 Dow: 9441 Nasdaq: 2019 S&P: 1016 Oil: $67.79 Gold: $997 09.08.2009 decisions decisions...yawn...... energy real estates and precious metals on the spotlight, weakness in USD and financials. tomorrow on volume should pick up and volatility returns. 09.09.2009 Pres. Obama speaks before Congress, mainly on health-care reform and the state of economy. Basically, health-care for all without raising a dime in deficit. one Republican. rep screamed-out "you lied" during his speech on the part of no health care insurance benefits for illegals. well, he's lying or not no matter, but tax hikes soon i am sure of, can't think of any other ways. 09.10.2009 8.30am short/8.45am covered/2.40pm short/2.59pm covered. lucky day. Nothing can stop this raging bull...sort of. Dow closed at 2009 high at 9627 +80, S&P: 1044 +11, Nasdaq: 2084, Oil: $72.10, Gold: $997...MS changes CEO. 09.11.2009 remember 9.11.2001 09.11.12.13.2009 Obama to set 35% punitive tariff on Chinese tire imports. For three long years 35% the first year 30% the second and 25% the third that's on top of 4%. It will be interesting to see the market's action on Monday as this might create a chain reaction of over-reactions and imaginations running wild, such as China's retaliations and Treasurys auctions going without it's strongest backer, and similar actions imposed on import products other than tires...so on and so forth. BBQ and dim sum, love it~ rainy and a bit windy this weekend but beat the heck out of the hot and sweaty summer days! Looking ahead Monday Obama speaks on banking reform, Tue marks one yr after Lehman and Aug retail sales, PPI and biz inventory, Wed CPI and industrial production, Thur housing starts and weekly jobless claims, Fri quadruple witching and state-by-state employment reports.
if not, what will? yea, what will??
09.14.2009 10.40am short/11.30am covered/1.40pm short/2.50pm covered tier one traders at work. 09.15.2009 8.40am buy, 9am sold, 9.15am short, 2.15pm short. 2.30pm liquidated 100% longs. Dow: 9683, Nasdaq: 2103, S&P: 1053 Oil: $ 70.15, Gold: $1006 Ben says : Recession is over! (I think he is kidding) let's party people!! 09.16.2009 Volatile day on the street, some profit-taking and sector rotations after this run-up but market is very resilient and simply refuses to go down. Congress to extend unemployment benefits in some states with high unemployment rates yet in fairness why not extend these benefits to all and save some controversies? Housing rebate, cash for clunkers, and massive bank bail-outs will likely raise serious problems on stellar national deficit looking forward. high unemployment rates and costly health-care reform and weak dollar are the keys to this economic recovery and funtamental changes in consumer spending post even higher threats to main street abroad. 94 banks failed so far this year. Dow: 9820, Nasdaq: 2133, S&P: 1068 Oil: $71.85 Gold: $1010
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