Smoking Securities

Half Baked High Finance

StockTwits Hot Picks

with one comment

Here are the ticks making noise on StockTwits
ARTC looks like it is headed to 0, but I would cover some shorts on that volume. Hawaii Trader had the scoop on the short here.
As I mentioned here, CPB and consumer staples will lag the market’s inflation bounce.
FAS and FAZ were both DOWN by the close Friday. Very fishy, but I’m day trading these Madoff’s till the party is over.
GM has had a nice bounce, but anyone buying this for more than a trade is nuts.
The SP500 is putting in some good work here. The upper Bollinger rests at a critical resistance level, so there will be bullish major interest if we break through.

The market continues to show remarkable strength in the face of scandal and underlying economic weakness. Don’t fight the tape, ride the wave of bullish profits till we make the next leg down. A SPY price target near the Lehman collapse days of early September is the most bullish scenario for now. Small position size is warranted as the falling volatility is still unusually high.

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Written by chucklesamadeus

December 20, 2008 at 4:43 pm

Posted in ARTC, CPB, FAS, GM, SPY

One Response

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  1. nice post!

    “trading these Madoff’s”

    great line.

    FAZ 55!

    BUY ON THE DIP

    December 20, 2008 at 8:20 pm


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