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#1

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Posted 23 December 2002 - 08:46 AM

. . . And in the finest tradition of STOOL HAPPENS . . . the Valley Scream computer crashed at 12:45 PM on Friday while yours truly was attempting to post his opening commentary at that time - apparently a time when the MB was having its own challenges.

This morning's commentary is now being brought to you LIVE from Green Witch and, because I wish to live up to my reputation of being Glad the Merciful, I hereby recreate the Friday attempt in its entirety, complete, uncut and unexpurgated:

"Getting Started"

". . . From The Trillionaire Next Door (The Greedy Investor's Guide to Day Trading) by Andy Borowitz:

I have one piece of sound advice for anyone contemplating an exciting career in day trading: Before you get started, quit your day job.

That's it, blow it off - not tomorrow, and not the day after tomorrow. Quit your day job today.

This is a vitally important first step. Day trading is a full-time job, and any "real" job you have will only prove to be a distraction. Therefore, it is imperative that you divest yorself of all other gainful employment, pronto.

I'll go one step further: when you quit your day job, don't do it in an amicable way that will leave the door even slightly ajar for your eventual return. Instead, create an ugly scene that will make your departure as painful and permanent as a thigh tattoo.

Why is this necessary? If, in the back of his mind, the day trader thinks he has an escape toute - something to fall back on - it will take his "eyes off the prize," as it were, and adversely affect his investment results.

How to Quit

How should you quit? There are as many ways if quitting as there are quitters, but here are four surefire ways to quit your day job in a messy, irrevocable manner:

Posted Image Tell your boss that he's a cretin.

Posted Image Tell your boss that his wife is ugly.

Posted Image Punch your boss in the face.

Posted Image Punch your boss's wife in the face.

If quitting isn't your thing, get yourself fired. Downloading company secrets onto your laptop will usually do the trick. Sending "inappropriate" jokes on the company's E-mail system is a surefire way, too. If neither of those work, I recommend that you sexually harass somebody. That's sure to get you bounced - and you can usually do it without even trying to.


And with those sage words of advice I wish you all a very safe, sane, stimulating and enjoyable weekend. And Doc, perhaps you should consider carrying this most educational book in the Stool U Bookstore.

Oh! Lest I forget before I go, I know that since there was no reply to the question I posed at the end of this (early) morning's offering, that means no one knew the answer and as such you have all been waiting very patiently with bated breath for me to supply it. Well here it is, folks, the number one song on the Hit Parade in that Worker's Paradise fifty years ago:

The Joy of Doing Creative Work as a Railway Truck Laborer

Now wasn't that obvious?"


Since the Creatureville computer is still in a coma and its reawakening is at least several days away, if not more, I'll either have no computer at all till then or the use of my friend's five year old notebook starting tomorrow through ?

So here's the deal regarding subsequent offerings on my part . . . on second thought since I don't know what the deal is myself until my friend joins me at work a little later this morning, I'll tell you what it is this afternoon.

#2 DrStool

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Posted 23 December 2002 - 08:56 AM

Not to worry everyone. I'm here at 6:15 AM, so if Glad's not here, I will open the thread. First things first. Enjoy your holidays!

Have you had your Golden Stool with Uncle Buck yet. Doc posted the daily and weekly charts this weekend with the short term and long term cycle outlook for POG HIU and Unlce B.

Your Stoolwethers cycle charts, of 15 market leading big cap stocks with 10-13 week cycle price targets are up and waiting for you. Suctor Watch charts will be posted by 8:15 NY time.

If your portfolio has you feeling irregular, for fast, long lasting relief, take a subscribatory. And support your local Stool!

#3

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Posted 23 December 2002 - 09:14 AM

IBM off .95 in Frankfurt. Those April '03 75 puts are looking better and better.

#4

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Posted 23 December 2002 - 09:23 AM

As you have undoubtedly noticed, the CNN futures charts don't work any more. A link to LiveCharts is fine, but a chart directly embedded in the message is better. Credit goes to wndysrf for noticing that one can get such charts from INO; I just implemented properly his idea:

NDX futures:

Posted Image

SPX futures:

Posted Image

The charts are delayed, though.

Regards,
Vesselin

#5 richmtn

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Posted 23 December 2002 - 09:32 AM

Thank you Vesselin and Mark for the charts. B)

#6 GregFokker

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Posted 23 December 2002 - 09:46 AM

And for the rest of em-


The US Dollar
Posted Image
Credit: http://quotes.ino.com

Gold
Posted Image
Credit: http://cdchart.innovative-software.com

...A declining spenglerian carnival of Colossaalism united with Inflation where the numbers one through 10 are forever banished as worthless arithmetical detritus from a bygone age... - Beardrech

Naturally we believe the govt numbers... and Boobus Americanus sleepwalks off the edge of the energy-crisis cliff clutching his shares of "Crisco", Yoohoo and GooGah munching on his Yum Yums and Ho Hos. Future historians will have a hell of a time figuring out what the hell Americanus neanderthalus was thinking and exactly what brought on his sudden demise... - Henny Penny

Well, good night everyone. I gotta go lube up for tomorrow's regular end-of-week Gold Slapdown and Stock Index Bear Punishment Rally Weekend Greenprint. ...Probably another Shock-and-Awe Gap-Up-Open and Wire-to-Wire Meltup Runaway Bull Charge Mo-Mo Spike to Fresh New All-Time Lifetime Highs, culminating in a 4:15 yelping scalded dog runoff with panic short-covering and legal not-held bad double fills due to fast market conditions, plus quote system freeze-ups and trading platform lock-outs along the way. *yawn* typical gov't Friday. - Shorty


#7 Takachi

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Posted 23 December 2002 - 09:49 AM

My little Christmas tradition, besides making gingerbread cookies, is to wait until the last few days before doing my shopping. Yesterday was my first serious foray into the teeth of the storm.

I was shocked! Not only was seemingly everything marked down from 50% to 70%, the crowds only moderately heavy. Lots that normally would not yield a space until someone was actually leaving, had plenty of spaces past the middle of the lot. Ingress and egress was a matter of minutes, not hours as in the past.

FWIW, combining the incredible markdowns with lessened traffic in a short selling season, this is going to be one retail disaster no matter what the media says.

Next week would love to see the post Christmas week refund for cash vs. refund for store credit numbers.

People who brag about being done with their shopping by mid November could take their stuff back today and walk out with twice as much stuff for the same money.

#8 simple guy

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Posted 23 December 2002 - 09:49 AM

SG chimes

NAS sees 1346 maybe before she heads to my cited 1420-1440 range...

We shall see.... 1346 completes the bullish wedge bottom and then she shall thrust upward...

... happy holidays all... Im long for this week...

#9 anoscope

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Posted 23 December 2002 - 09:57 AM

SG chimes

NAS sees 1346 maybe before she heads to my cited 1420-1440 range...

We shall see.... 1346 completes the bullish wedge bottom and then she shall thrust upward...

... happy holidays all... Im long for this week...

that would put the q's at about 25 right? I'm going to trade with you this week!

#10 torah man

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Posted 23 December 2002 - 10:02 AM

well the futures are down but i do not think it will hold.

i will dump my jan puts in spx and klac on the dip. my order to sell the klac puts only partially filled friday at the bell, so i will let it complete. i am done chasing pennies, it always costs me.

i have to leave the machine for the next two days, so i will not go long if i can't watch it.

this will leave me with a spx jun put and hmy with calls sold against it.

good luck everyone.

#11 roidrage

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Posted 23 December 2002 - 10:12 AM

No matter how your positions go, iggles fans are winners today.

South Jersey malls in Moorestown and Cherry Hill were packed, parking lots completely full on Sunday. The highway traffic was rolling at 20mph v. the usual 60mph. Maybe shoppers have been playing chicken, waiting until the last minute to try to get the best prices.

rr

#12 DrStool

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Posted 23 December 2002 - 10:15 AM

Pre Market Outlook

Ho Ho Ho Ho

or is it Ho Hum?

The malls and flea markets in FL were deathly quiet. Bizarre.

If your portfolio has you feeling irregular, for fast, long lasting relief, take a subscribatory. And support your local Stool!

#13 sweefraapp

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Posted 23 December 2002 - 10:17 AM

FAST

Attached Images

  • snapshot_68.png


#14 GregFokker

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Posted 23 December 2002 - 10:17 AM

Pre Market Outlook

Ho Ho Ho Ho

or is it Ho Hum?

The malls and flea markets in FL were deathly quiet. Bizarre.

Doc, my grandma was one of my closest friends. She used to drag me through Thunderbird until I was crawling. My grandpa would sit for 5-8 hours at a stretch in the skyblue Delta 88 with the aircon running. Fokker misses his late grandma AND Thunderbird.

...A declining spenglerian carnival of Colossaalism united with Inflation where the numbers one through 10 are forever banished as worthless arithmetical detritus from a bygone age... - Beardrech

Naturally we believe the govt numbers... and Boobus Americanus sleepwalks off the edge of the energy-crisis cliff clutching his shares of "Crisco", Yoohoo and GooGah munching on his Yum Yums and Ho Hos. Future historians will have a hell of a time figuring out what the hell Americanus neanderthalus was thinking and exactly what brought on his sudden demise... - Henny Penny

Well, good night everyone. I gotta go lube up for tomorrow's regular end-of-week Gold Slapdown and Stock Index Bear Punishment Rally Weekend Greenprint. ...Probably another Shock-and-Awe Gap-Up-Open and Wire-to-Wire Meltup Runaway Bull Charge Mo-Mo Spike to Fresh New All-Time Lifetime Highs, culminating in a 4:15 yelping scalded dog runoff with panic short-covering and legal not-held bad double fills due to fast market conditions, plus quote system freeze-ups and trading platform lock-outs along the way. *yawn* typical gov't Friday. - Shorty


#15 wndysrf

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Posted 23 December 2002 - 10:20 AM

Malls in S. California were mobbed. Traffic jams everywhere.

Went to the supermarket last night, it was dead. Usually, Sunday nights are packed.

"Where is everybody?" as asked the store manager.

"Everyone is at the mall", he said.....

The retail bubble is still alive.
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