Eric Landstrom - 29 October 2009 12:08 PM

Personally, I’m amused that HD has made such a PR misstep to allow this to get out.

I’m amused as well, though the topic initiated a little research on my part into the evolution of the Pledge of Allegiance. Interesting.

Friday

R4         209.11
  midpoint   206.78
R3       204.44
  midpoint   202.11
R2       199.77
  midpoint   198.92
R1       198.06
  midpoint   196.58
PP       195.10
  midpoint   194.25
S1       193.39
  midpoint   191.91
S2       190.43
  midpoint   188.10
S3       185.76
  midpoint   183.43
S4       181.09

Overall, PMI declined but prices and employment rose. Both good things for housing because as home prices increase there are lower default costs and as employment rises there are less delinquencies and foreclosures.

http://www.briefing.com/Investor/Public/Calendars/EconomicReleases/chi.htm

Disclosure: I purchased more FRE this morning.

Good Morning Boys and Girls

The sponge bought a few share this morning at 195.80.  Will buy more if we go above 197.

It looks like we could be in for a non eventful day with a tight trading range.

Good Luck to all.

omacvi - 30 October 2009 09:20 AM

It looks like we could be in for a non eventful day with a tight trading range.

 

Maybe not.

Watching the S&P 50dma at 1,052. Sitting right on top of it.

edit: And there goes the 50dma.

I’m buying back a call I wrote at the 188.90 level if we hit that low.

Edit - and a call I sold the other day.

...whoa that got out of control pretty fast…

Obscure reference?

I’m watching the eur/$ and if we break 1.4700 range I think selling pressure may really accelerate.  A lot of things are looking very negative out there today and don’t look like they have support where they are sitting.  I’m talking transports, BKX, QQQQ, $, SPX Futures, you name it.

VIX and VXO through the roof today: up 25%.

Well things went south fast.

I bought more shares at 189.06.

The correction we have been waiting for is here.

Hope for more buying opportunities

I love my iPhone and eTrade app.

Bought some BAC common at 14.65 and sold some preferred for an equal total $ investment.  Also did a BAC trade for a quick one (14.72 to 14.92).  Never bought the option back that I wrote because the VIX was so high it just didn’t seem wise to do.  My gut says we sell off very hard into the close due to $ strength and CIT going BK and C getting bad news on another write down.  If so I will buy that option back.  Been very disciplined today which for me is more of a victory than making a lot of cash.  I need to work on this skill.  Good luck!

bought back my option I wrote for a little gain.  Not much of a gain though with that spike in the vix.  Still have some more options out there I wrote but with this sell off a bounce back is more likely Monday than it was today.  Enjoy your weekend - off to play in 20” of Denver snow with my girls…

runedge - 30 October 2009 03:17 PM

bought back my option I wrote for a little gain.  Not much of a gain though with that spike in the vix.  Still have some more options out there I wrote but with this sell off a bounce back is more likely Monday than it was today.  Enjoy your weekend - off to play in 20” of Denver snow with my girls…

Better hurry. . .it is melting quite fast here.

The sponge was reminded how well Apple did last quarter.

Today it was punished hard, but nothings has changed.

So I bought a few more share in AH at 188.70.  Still have money left to buy if we go lower.

My feeling is that we could go lower, but we are about to hit bottom for this little correction.

The economy is still struggling but still limping upwards never the less.  This correction was much needed.