Friday Morning Thought 8/3/2007

The jobs report is out and the YM dropped about 50 points. Just before the numbers they had rallied for 25 points. Why I do not know but someone had a guess. The EURO gained about 30 pips and that might be the morning sell point. After the numbers come out, I look at the reaction and the re-reaction to the numbers trying to game things. If the EURO comes back to unchanged and starts moving higher then its a buy in my books. I never trade in the first 15 minutes after a very good number. The EURO might be setting up for a buy under 137.0 risk 25 pips and I would figure out at the end of the day if I hold it or not.

Thursday Morning Thought 8/2/2007

I hate the major networks. I have been watching this morning the coverage of the Bridge collapse and all I see are the National anchors trying to pick apart the situation and find all the bad points of the situation. It sounds like from a lot of the coverage there was a common people doing a lot of heroic acts. The idiot from NBC just keeps picking on "Was their Panic? Did you see died people? Did the construction workers bring the bridge down? Was the response too slow?" I want to throw up. I know the area and it is very hard to get down to the river at that point. There is a lot of amazing stories of people helping including a group of teenagers bring a pregnant lady to safety.
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On a market note, the futures are nuts back and forth. I t looks like we could be getting toward a good bottom here. A good place to get good longerterm technical information - go look at Jason's work - SentimenTrader.com. He is from Minneasota too.

Tuesday Morning Thought 8/1/2007

New month same crap. The markets look very messy this morning. The futures are taking dives all over the place. Two points here - two points there (S&P). The market has scared enough body were even the Big Mouth does not seem to have his magic to pump stocks. I hate all the TV commentaries - stocks are do this and that because of this and that. Bottom line is people who have stocks are selling stocks and are having problems finding people to buy them.
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In the few minutes it has taken my to type this, the YM (Dow) futures have gone down 60 points and then gone up 40 - all in a blink of an eye.