UConn lost to Pitt last night. ARod was to hold another press conference. For a UConn and Yankees fan there were a lot of distractions today. BTW what is Boli? Also we had President Obama signing the stimulus bill. We had the market open down 3%. GS finished down 11.25. You know just another day at the office.
89.80 was the level in GS today. GS could not trade below it even when the market showed further weakness. And the moves off of 89.80 were strong. This level wasn’t just holding it was paying off. 50c, 75c chops off of the 89.50 level were offered on multiple occasions. Finally GS violated the 89.80 and tanked.
GS is funny. Most days it can be the strongest financial. Most days it is the first financial to bounce when the market stabilizes and trades higher. And then on certain days it gets sold like it reported a bad number. We saw this before the holidays as GS was the strongest financial. Soon after the holidays GS tanked. GS has held up well recently. And then today it got taken to the woodshed.
And I always love competing with the GS Specialist. If the GS Specialist was hit by a car in the middle of NYC, I might not call for help. OK I am not serious about that. I would flag the driver down and implore him to run over the Specialist again. OK again I not serious. Let’s just say he aint on my XMAS card list. The spread was 75c at times. And it was almost impossible to get prints at good prices. Hopefully that indoor pool that the Specialist is probably building off of my trades comes out beautiful. Maybe I will get an invite to his summer barbecue?
OK enough with the GS complaining. The easiest trade of the day was CAT below 30. SMB has been watching this level for weeks. CAT was highlighted in our AM Meeting by Danny. CAT traded below 30 and went straight down. That is like trading on Easy Street. That is the way we like stocks to trade. Drop support and tank.
I have to go back to writing my two presentations for the International Traders Expo Sunday and Monday. Should be interesting. If you are in the area please drop by.
Best of luck with your trading!
7 Comments on “Easy Street- CAT”
Many at our firm are cutting way back on the shares and trading. taking off early, not coming in for a day or so, etc. i’m fairly new, about 10mo. but my thought is that you need to keep your skills up to par and stay active, maybe trade smaller or more selectively. but it is painfull to be down in an unforgiving market. what are your thoughts?
Many at our firm are cutting way back on the shares and trading. taking off early, not coming in for a day or so, etc. i’m fairly new, about 10mo. but my thought is that you need to keep your skills up to par and stay active, maybe trade smaller or more selectively. but it is painfull to be down in an unforgiving market. what are your thoughts?
In regards to boli, I played minor league ball and boli which i doubt is all he took, is basically similar to ripped fuel that you get at gnc, but a little stronger. It helps you get toned and stronger without getting all bulky(sosa, big mac). If that was all he took than I doubt it would make any difference at all on the field. People forget ryan franklin of the mariners got busted for roids and he led the AL in homers given up. I mean they act like these injections or pills are magic…But i love the blog and all your great insights on the market.
In regards to boli, I played minor league ball and boli which i doubt is all he took, is basically similar to ripped fuel that you get at gnc, but a little stronger. It helps you get toned and stronger without getting all bulky(sosa, big mac). If that was all he took than I doubt it would make any difference at all on the field. People forget ryan franklin of the mariners got busted for roids and he led the AL in homers given up. I mean they act like these injections or pills are magic…But i love the blog and all your great insights on the market.
Very funny…keep up the good work.
Very funny…keep up the good work.
There are many trading opportunities in this market. I have traded some markets where it was wise to head home after the Open. This is not one of them.