Friday, February 25, 2011
Fantastical Friday
Gold up. Silver up. Oil up. Stocks up. Everything (almost) is up, and mostly up big with less than 20 minutes left in the session.
I haven't made a trade since Tuesday early morning (premarket). I don't feel satisfied, but I don't feel greedy, either. Good place. Still feeling the ailment, still achy and headachy and it sucks. When I woke up, the market was already 90 minutes in (almost 6 am Hawaii time) and everything was green. I've had some long naps since and there is simply an abundance of buyers and a shortage of sellers. Who would've figured that for a Friday. It's almost like a parallel universe, or an opposite world. Instead of the sell-into-strength tendencies of Fridays, it's almost a fantasy.
The first price that had my eyeballs boinging out of my cranium was UCO, which was listed at more than 300% up. I was drowsy when I saw that and immediately thought, 1) must be a typo, and 2) it's not a typo, so maybe Libya just got turned into dust. Holy crude! But no, it's a reverse split in UCO, the one I'd heard about earlier in the week. QID also did a reverse split.
But generally, the top of my watch list is ruled by silver entities. EXK (+5.1%), SLW (+5%), SLV (+4.1%), PAAS (+3.7%). AAPL, BIDU, other momo names like CMG and LULU all up roughly 1% or more. But on the red side, CSTR and NFLX can't get out of the hole. Even AMZN is fractionally down; as the No. 1 contender to usurp NFLX's throne in streaming movies, AMZN should be rolling today, right?
VXX and TVIX are the bottom of my list. Did they actually stop bombing unarmed protestors in Libya today. If so, how can oil stocks still be above water for the day. Weird. Fantastical. Everybody (but the shorts) is happy.
The only negative? Volume is low.
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