- When the market is in a strong trend, none of the trading range tricks work at all. I was thinking about this as we approach the end of the month and how it normally would be positive as the 401k contributions hit and others jigger their month-end holdings. Right now, everything is positive because investors want to buy stocks. Whether they're feeling left behind, underinvested, and/or trying to catch up for leaning the wrong way, the mojo is on the buy side right now. Forget about channeling stocks, Mister. It's a one-way street right now. Up up and away.
- I've noticed "market fever" returning to water cooler chatter. Folks seem to be taking an interest in trading again. One guy I talked with today said he just started trading options a few weeks ago and he's making a killing! Of course, he's playing calls only. I know how the story will end, but I didn't tell him. He wouldn't listen to me anyways. Some lessons just have to be experienced first hand. You can't pay somebody else to go to school
- I remain in lower beta holdings with some cash on the sidelines, and still trading in and around some names as I work on my short-term system. Of course, it's working right now because everything seems to be going up. A monkey with darts could fling 'em at a listing of stocks and come up with nothing but winners right now!
- MSFT came out afterhours with so-so numbers, but not being sold off much. I was wondering if it would be a market mover because of its weighting in the index. We'll see how it goes after folks have had a night to think about it!
