Thursday, December 3, 2009

Bookkeeping: Same Index Trades Entered as Yesterday

Same bat time, same bat channel.  Same entries, same stop outs.

EDIT 10 AM: and the market says "same bat behavior as yesterday".  We immediately drop from S&P 1114 to 1110, although today it was run up to S&P 1117 first.  I was not even able to get my order for TNA in since the market moved so fast both up and then immediately down, so I am only sitting on the SPY call position. Still holding at S&P 1110.50, I will give it 1 extra point today versus yesterday to stop out.

Back to the box!

EDIT 10:15 AM: Wow, ISM Services a disaster at 48.7.  As I say each month, everyone focuses on ISM Manufacturing but that is only 12% of our economy.  Services are contracting again!  Its much easier to manipulate manufacturing higher with things like cash for clunkers...not so easy in the services sector. 

Oh well, that just means more free money... why is the S&P not up 5% on this awful number?

EDIT 10:17 AM: Stopped out of index calls, back to my own personal box. Again, that ISM Service number represents the majority of our "new and innovate" service based economy.  Aside from Wall Street services which are booming again, and the always booming healthcare services it seems we have a problem, Houston.

Can you hear the next stimulus coming? (just don't call it a stimulus... call it a jobs plan)  To the printing presses Ben!

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