Thursday, April 7, 2011

Beware, the streets could become lawless


2 pm (Hawaii) No sheriff, no protection. Not that feeble-minded innocents are safe in any market, but if the Fed has a shutdown of any sort, the SEC won't be fully loaded. (Please save your puns for another time.)

My guess is that the naked short sellers of the world are salivating fantastically at the prospect of a Fed shutdown. Some serious scamming could go on. Another flash crash? You bet. Or, I would not bet against it. The market is at nosebleed levels with the threat of no QE3, still a few weeks from quarterly earnings reports and plenty of complacency among traders. Hedgies would love nothing more than to short every long's ass, then load the truck with discounted shares of any decent stock and ride back up.

I've been dozing off the past couple of days regarding trading. Missed a potential winner here and there, but all in all not worried about that stuff. I got my sleep and there's a massive workload, so first things first. Catching up on today's action...

AAPL stuck at 336-340 today, now 337.80 minutes before afterhours trading ends.

Silver still bouncing higher. EXK at 11.96, near its high of the day (+3%). I sold at 8.55 just a few weeks ago. Oh well.

PAAS (+0.5%) and SLW (+0.4%) moderate gains, while SLV was flat (+0.05%). Gold is quiet today after a breakthrough earlier in the week.

WNR is down 2.9% to 18.17 after a strong run. Natural-born profit-taking is all.

YZC is still killing bears and shorts, up 4.1% to 39.41. Coal continues to explode and China needs it.

MCP up 12.4% to 69.73. CHGS up 9.8%. MWW up 3.8%. UCO up 3.1% as crude settles above $110/barrel. I should've bought a small slice of UCO just to hedge against higher gasoline prices for my car. A hundred shares of UCO would've been sufficient. Oh well.

53% of my watch list is green after swinging all over the place early in the morning. A daytrader's paradise, it seems. Caution and protection still strongly advised.




No comments: