Yesterday was a beefer ping pong game. Some beefers run prices up and then others hit them down. Ping pong. There was no news that meant anything important. So ignore it. Days like yesterday are just virtual trading froth in the vacuum of trading space without news.
The drop filled a gap in the Russell 2000 cash index. The Nazz cash gap still exists. Gaps matter since ... everyone thinks they do. Perhaps there is some "reality" to them as no market participants have positions based in the gaps by definition, hence causing a vacuum pressure to pull back to fill them. They definitely exert strong psychological pressure from traders, though. So one must respect nearby gaps.
And one needs to respect October as a psychologically important month. Don't be a hero. Be patient. Buy dips in good stocks & groups. It's a bull market. The big money is made in buying good stocks and holding them for a big move.
I might add to my BNI position on this pullback if I can get the stock under 83.
PS: Good numbers out of GE. No surprises. No economic drop off. Global expansion continues.
PPS: McDonald's raises guidance and reports great sales comps. No matter what people say, they make great food! Quarterpounders rule !!! :-))) Mrs. B owns MCD in the Sky Fund.
P^3S: ORCL hostile for BEAS at $17 cash. Holding ORCL - they know how to do acquisitions & grow them.
P^4S: Core year over year PPI was 2%. Sighhhhh. Disinflation rules.
About Me
- Bunkerman
- I have a pioneer mentality. My wife & I live in the woods - neighbors aren't visible except slightly in winter. Our "bunker" - hehe, really a fine home & barn - has plenty of security. We have four dogs: Krypto (age 9, Kelpie), Ava (age 13, Rat Terrier), Sky (Kelpie, age 5) and Lucky Star (age 1, kelpie). I don't take crap from anyone anymore, having enough resources & gear stocked up to survive in any circumstance. I have three degrees from Harvard including a Ph. D. in a physical science, and an MS in Management from MIT. I worked as an investment banker for about 25 years, mainly in secured finance, at three major Wall Street firms and for the last 17 years with my partners at our own firm. I'm semi-retired now, managing some private corporations and business interests and doing my own trading & investing. This is not to boast, but to give you an idea I know a little about some subjects from experience. The photo is my 1943 M16 half-track which I am restoring. These armored vehicles were ubiquitous in the US Army in World War II and Korea. It's driveable.
25 comments:
Bunkerman...sounds like you have been reading the Spinny gappa handbook...some also say that the thursday before ops expo games are a fluke, rather than options players rollling contracts forward...the tail dosen't wag the dog and an index futures gap is always filled.
Well,I thought I would pass on what I've learned about gaps to "common man" readers.
But I don't think "always" is a safe bet in markets.
rule #1,,,index futures gaps always fill...if it were to occur here that they did not,it would be a first...stock gappas, not the case, but they can provide a great tell and do have some magnetic power whether they eventually fill or not.
Heading to my bunker this afternoon...will be there all next week...Bud will be happy to know it is big game season...running low on elk meat...time to blam bambi. think I'll trade up until wednesday and leave the ops expo to the common man. this common man will be hanging lean natural meat.
Good hunting frosty. I'll be sheep herding Monday part of the day, then I get the Tuesday herding classes in the future for the Kelpies.
I've never had elk, but the reindeer sausage in Alaska was really good.
Hmmm ops expo is on the anniversary of the crash of 87. That's not a good coincidence.
yes Bunkerman...the common man is best to head into the wilderness and enjoy some back to nature time...no need getting involved in ops expo.
sounds like the k-9 patrol unit is staying in fine shape...make sure you exercise their noses as well...that is truely there best weapon...some bomb sniffing training and enhanced tracking skills...unless you think the enemy will attack wearing sheep skin uniforms :)
I keep the K-9 unit very fit as a warning and distraction unit. Hehehe my resources can handle the intruders - all they have to do is distract them a bit. Herding skills are very good for distracting the enemy - circling and barking. :-)))
Tribe vs. Red Sox tonight & Saturday.
Go Tribe !!!
Scalp the Red Sox !!!
Bunkerman...looking forward to the comman man's feild dinners...fresh liver and onions, back strap cooked in butter and red wine over an open fire on a cold night after spending the day in the feild...relaxing around the campfire passing a fine jug of bourbon...in the company of real men....no broke back cracks Spinny.
I think you have a typo in that last post...think you meant the dead sox.
Sounds like a fine time, frosty.
the dulcet tones of dueling banjos in the background
( * )
rofllllllllllllll
LMAO...yes Spinny we have a ned beatty type...he may need to take one for the team.
Bacon, beans & black coffee for breakfast, frosty ? Like on the trail ?
Or corn bread fried in lard like on the Ohio frontier?
Hmmm maybe hardtack & black coffee like on the March to the Sea?
no time for breakfast....need to be on the move well before first light...coffee to open the eyes then hit the hills...carry some fruit, nuts and water...unless I have meat hanging in camp and can sleep in until first light, then pancakes are the choice of the modern common mountain man...beans have been banned in hunting camp for years, blazing saddles indeed
Bunkerman...how are you with a compass and a map...how do you keep your survival skills sharp?
hmmm you need some pemmican for the hunt: dried strips of fruit, meat.
I'm weak. I'd need some practice to get it back. Unfortunately I don't get to the wilderness much. Mostly I reinforce the bunker & practice sniper work.
or heavy weapons skills :-))
having a bunker next door to a MCD has benefits :)
I'm dreaming of a fine martini,
Just like the one I had last week,
Ice cold gin
and vodka, too,
And white lillet shaken with a twist
boo boo boo boo [ imagine Bing Crosby crooning ]
Bunkerman...have a great weekend....go tribe.
thanks. Sheep herding tomorrow and Monday.
Have a good weekend, too, frosty.
Im going to ROCK down to Electric Avenue..(Eddie Spinny Grant )
great weekend Boys......Go Tribe
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