No jobs? No problem!

The market has shrugged off horribly disappointing job numbers this morning and kept grinding higher. I did take a nibble at ARO and also TOO at the end of the day...There seems to be quite a big chase for performance as the word on the street is that a majority of the money managers are under preforming the market.

ARO....one teen stock down today

Check out Aeropostale today...down 14% on almost 5x volume...disappointing sales numbers and quarterly numbers, but this stock has probably been punished a little too much...the 2Billion market cap areas has been ripe for take overs, as has the clothing industry in general.

This company is a cash machine and I will be taking a piece of it tomorrow assuming it settles down a litte

Risk on!

This market is very bipolar, today risk is on...but it is a nice way to go into the holiday season. I took a little nibble at JACK today...yesterday it fell after earnings/projections and now is selling at 2x liquidation value...the company cash flows well. Burger King got taken private earlier this year so this is right up my alley.

Happy Turkey Day!

When I am wrong, boy oh boy am I wrong

NFLX and OPEN hit basically 52 week highs today! NFLX is sitting just about 10B market cap...wow for a company making 160ish million a year...what a multiplier! OPEN is on track to make just shy of 20 million this year and is selling for market cap of 1.7B

wow luckily I am too chicken to short anything normally...

My goodness

The market showed resilience today as the dip was bought as normal buy people chasing performance...word on the street is that lots of fund managers are under performing this year and need to catch up..

and just as people start piling in.....look at CSCO after hours...my goodness what a haircut...13% is most likely an over reaction, I am going through their conference call and will let you know what I think about the situation tomorrow AM.

those of you who started hedging up when the vol was cheap....good job!

Take your position!

On this election night it looks like the Republicans will take the House and they have a slim chance to take the Senate..over the last few months the market has been taking into account the Republican landslide and we have also been talking about QE2...tomorrow we will hear about QE2 and we will know the outcome of the elections.... so now what?

One side says we will sell off, a buy the rumor and sell the fact....or another way to see it would be that what if QE2 isn't what we are expecting? The other side is that there are a lot of money managers under-preforming the market and are positioned for a pull back, if the pull back does not come watch out the market is going to RIP!

Which side am I leaning to? I am just as invested today as I was a month ago...but I have put on some more QQQQ puts recently so I am hedging myself as always.

Today Kellogg and Clorox hit the radar....

Hope you all have a nice night, let's see what happens tomorrow!

Under the Radar

Thanks to jobless claims dropping the indexes are coming back rather well...but a few you might have missed are MMM, IRM, FLS, GT...all good companies, just getting hammered on today though...watch volumes...MMM is the most appealing to me at the moment.

Why do start ups fail?

http://informationarbitrage.com/post/1407544205/what-is-the-1-reason-start-ups-fail

Wow look at the TIP yield

http://www.crossingwallstreet.com/archives/2010/10/the-tips-yield-curve.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+Crossingwallstreet+(Crossing+Wall+Street)

Been a while

Hey all, sorry I have been a little busy with work and not much has really happened with the market....

But today a few things have popped up, OI sank on 3.5x volume....glass containers are not going anywhere and these guys are good at what they do.

LXK is also on the radar...they are quite low in price and cheap companies seem to be getting bought out.

Building up cash now, but taking bites where I can.

Taking a bite into BAC

BAC trading at 11.64 and the book value is 21.45...leaves a good level of safety for miscalculation of book value or for loan loss provisions.

Watching CREE, SVU, LLY

What a day....

Yesterday was pretty boring, not really much went on...today really did make up for it. SVU, SuperValu, missed and boy did the stock get punished, down 15% on 5.5x normal volume...what a play! leaving it with a 3.3% dividend yield which is higher than 10 year. I will keep it on the watch list, don't want to do a purchase into a falling market.

Cree missed on revenues and is also getting punished after hours down 8%, this is a definite watcher tomorrow.

BAC was down today as Blackrock, Pimco and the NY Fed are seeking for them to repurchase loans that they were packaged by their Country Wide Financial unit, there is most likely a settlement occurring here in the near future. BAC shares were down over 4% on pretty high volume, this is one that brave people would play for a bounce, but I am staying away from financials all together.

See you all tomorrow.

Bank accounts

for those of you that want to keep some cash liquid and don't mind doing a little work for your money:

http://www.depositaccounts.com/blog/2010/10/savings-account-bonus-of-up-to-300-bonus-at-wtdirect.html

Finally, a reversal in the Dollar....

Thanks to China raising it's interest rate by 25bps there has been a reversal in the dollar...will be interesting to see if the dollar can rally for any significant amount of time. As far as I am concerned the dollar cannot really rally as long as QE2 is on the table...

Apple and IBM

Uh oh, good news appears to be bad news....We will have to watch to see how Apple and IBM preform tomorrow...the earnings were actually quite impressive, but selling off pretty strongly. We will have to see tomorrow, but this may be a buy the rumor and sell the fact.

What a boring day

As we wait for Apple earnings, which better blow away expectations the market is slowly churning higher. The only stock that has my attention today is Fluor (FLR) which has announced an $163mm one time hit due to delays in the construction of a wind farm. One time hits do not really bother me and FLR is a preeminent construction company...I might take a small position here if volume keeps up at its current pace.

On a side note, banks are bouncing back nicely thanks to Citi's announcement. I am glad after we poured in Billions of dollars the company can turn a profit...even if most of it was a reduction in loan loss provisions!

First post!

A new blog! How exciting, hopefully I can keep this one consistently updated...It should help that I look at the market every day and I always have something to say about it. So here goes:

Options expiration and weak GE earnings, what a way to wake up on a Friday. Especially since I went to bed with nice GOOG earnings and a STX buyout on my mind.

Well as some of you know and the rest of you are about to find out, my trading portfolio usually revolves around stocks that are falling with unusually high volume. So today I am looking at MAT and GE...Yesterday I picked up a very small position in COCO and we will see how it does. I have also been buying way out of the money QQQQ puts for Jan2012 since they are super cheap and I like super cheap things!