Tuesday, April 21, 2009

Biting The Hand That Feeds

When politicians are given power, they're elated and humble just as kids are at first, then they take it, they abuse it, but most important thing to remember is that once they possess it, they don't ask for permission again. Repeat: THEY DON'T ASK FOR PERMISSION AGAIN!!

Power and money is the biggest and most compelling reason why all governments fail in their duty and the more money they control the faster the deterioration happens.

That this Federal Administration now controls more money than any other US government in history is alarming enough but coupled with their plans to enlarge government bureaucracy should definitely create alarms for all citizens. You see the production for money is in your hands... the printing of it is in theirs, which means you have to keep up with their program if you don't want to be in debt or better put, if you don't want to lose your country.

But when governments become both the producers and the consumers they become the monster that eats itself. On the way however, they create plenty of misery and depression. You begin seeing it in the citizenry when they become lackluster, disinterested and hopeless and don't wish to produce as much as before.

The bank bailouts are the real test as to this governments intention and they have already shown that it's more important for them to retain control rather than allow free markets to correct the problem. It was already evident when they forced many banks to take the TARP money even though they wished not to, but now those that wish to pay it back are not allowed.

The vicious circle has started and added to it is the coming announcement of one crisis after another all designed to alarm, panic the citizenry into allowing the government to "do" something about it before the "sky" falls and before you realize, they've taken control of it all. And by doing so they make the citizens ineffectual to the outcome until the government falls.

Sunday, April 19, 2009

Trading List Week of 4/20/09

Trading List for Friday 4/24/09 : I am extra cautious on Fridays going into weekend lately is dicey. Watching $BIG $TROW $SKF $AAPL. $TSCO looking to short. $COST $46.65 still looks good as signal long.

Trading List for Thursday 4/23/09: $DO $F $EBAY $AAPL $SKF $COST $YUM. YUM! completed a winged V recovery pattern which began end of last year. Look to short below $32 to revisit $30 area Keep on tight leash. EBAY reported good earnings after hours and gave a nice scalp play. Will watch for further gains on this.

Update Post Market Wednesday 4/22/09: It was a run up and sell off day at the markets giving some scalping opportunities. $SKF tested the $58 area low several times before finally taking off with an abandon both shorts and longs were happy. EBAY took off at the morning bell and paid well in the $15.00 area. After hours gave another opportunity as it reported good earnings & outlook. $COST was nice entry at $46.65 giving nearly a point gain. $BIG had a nice run up again this morning hitting 6 month high of $27.41 Will look for further opportunity on this for Thursday.

Trading List for Wednesday 4/22/09
$CAL has a way of surprising will watch this one with earnings
$COST upside momentum could take it to $49 entry above $46.65. On the short side below 46 to $45 and $44
I will be adding $MCD $CMG $COST to watch

Update 4/21 Post Market: $SKF was as predicted. Long action happened before market open, then short took us down to penny at $60. Looking to test lows again with this one. $BIG reentered at $25.28 took profits at 25.98. Did not hold due to market volatility. $GNK also very nice for a rebound trade from $17.97 to $18.90. Still watching $FRPT for a possible short. $EBAY had a nice ride up today did not enter any trade with it.

Trading List for Tuesday 4/21/09
watching $EBAY $FDO $BIG $LOW

$FRPT dbl top potential short below $7.69 entry to $7.37 then $6.90, $6.50 area. If market rebounds, it'll stay in a tight trading range.

$SKF although not convinced it's seen it's lows, current momentum is on the plus side. Above $71 it's clear to $77 area; on the downside it has a gap to fill to $60
Trading List for Friday 4/17 update 4/20 Post Market
$FCS good money vol potential of $6.10 area
$GNK above $15.24 targets $17.10, 18.90 and 21+ area; 4/20: hit 2nd target on Friday, Monday gap down sold of remainder postions.
$SKF see lower to $55-$54 area $C will be the key; low of $56.50 Friday

Also Watching $GOOG $BIDU $FRTP 4/20 sorry for the typo it's $FRPT
Swing trade $BIG hit my first target ($25) now lookig to $26.50-.90 area. Update Target hit and sold all out will watch this for reentry