<p>I am short the 26 straddle in intc that expires today. Plus I am short extra puts that expire today.</p>
<p>I like the stock right here, but I don’t want it to go too much higher today. 26 to 26.30 would be a great close. 26 would be awesome, but that doesn’t look likely. :)</p>
<p>Just got back to look at the market. Quite the party.</p>
<p>If you’re staying long (as I am) - buy protection.</p>
<p>$spx is in an uptrending channel. It is at the top of the channel.
$indu is slightly above horizontal resistance.
$compq is slightly below horizontal resistance.</p>
<p>All three indices are at or near resistance. The odds favor a top here.</p>
<p>I’m going to hit some tennis balls - mind the store for me. I think that it’s around mid-90s on the courts.</p>
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</p>
<p>Never. The few times I have clicked on ads, it unleashed some sort of program that posted on my newsfeed the fact that I clicked on the ad. All of my friends saw that and believed I was somehow recommending the ad when in fact I was not. They clicked on the ad and the same thing happened to their newsfeed. There is no way for me to tell if an ad will do that or not in the future so I make sure not to click on ads. Plus I really do not want Zuck to sell my shopping habits to other companies.</p>
<p>Yeah, I understand razorsharp.</p>
<p>I would talk negatively about Fb, but the stock has been hammered, and more importantly, I am short some puts that expire next week and I want them to expire Worthless first. ;)</p>
<p>There was an article yesterday about expecting less from Berkshire today. They reported after the close and earnings were down 9% but Buffett prefers operating earnings as a measure of corporate performance. I like to see both but do prefer operating earnings on long-term holds. Operating earnings rose 37% from last year. The Clayton Homes operations is doing very well (Buffett bought Clayton Homes at a rock-bottom price many years ago - they sell manufactured (cheap) homes and couldn’t work out financing with banks - Buffett figured that Berkshire could be the bank for Clayton).</p>
<p>The reason why net income fell 9% was due to investment performance. This year they had a big derivatives loss $600+ million on index puts (this is the guy that said that derivatives were weapons of mass financial destruction), and a strong gain last year from a Goldman Sachs deal.</p>
<p>Buffett said that things look good in the housing market to him (selling at the low-end of the market - I wonder if he’s selling in North Dakota) and that house selling is a harbinger for many other industries.</p>
<p>North Dakota has some issues. There are plenty of people that work up there that don’t want to own housing. Some of the people working up there are barely civilized. :)</p>
<p>It is interesting that Buffet traded derivatives after calling them toxic. I guess with your option trading, BCEagle91, you have joined that club. </p>
<p>Buffet did elaborate. </p>
<p>[Derivatives</a>, as Accused by Warren Buffett - NYTimes.com](<a href=“http://dealbook.nytimes.com/2011/03/14/derivatives-as-accused-by-buffett/]Derivatives”>Derivatives, as Accused by Warren Buffett - The New York Times)</p>
<p>I don’t think anybody is going to care about those derivative losses, because in the long run, the odds are strongly in his favor that he will make money.</p>
<p>Unless those guys that are predicting the market will drop over 50 percent in the next 7 months and then stay down are correct. :)</p>
<p>I find it interesting that people consider options as weapons of mass financial destruction - LOL!</p>
<p>TJX made an all-time high and an all-time closing high today but the latter was only by a few cents and it left a black candle. TJX doesn’t get any respect when the market goes up.</p>
<p>So do you believe that it is bullish or bearish that it opened higher and ended lower?</p>
<p>Not a fan of the store,stock is solid however,as a shopper, i find their clothing to be seconds…have made several purchases in last year, and came homoe only to find incorrect stictching, or small mistakes in production of what would be considered higher end clothing…i will pass, and shop Nordstrom Rack going foward</p>
<p>That’s a bearish candle. That’s why it is colored black at stock charts.</p>
<p>I don’t have a list of candles and their meanings handy (maybe litwicks.com) and my copy of Murphy handy.</p>
<p>Update: I had a look through the patterns at litwick.com and this pattern isn’t in their bullish or bearish database. Not even as a partial pattern. So perhaps it is neutral. They go ex-div on Tuesday and report earnings the following week - though they kind of pre-announced this week; there shouldn’t be any surprises.</p>
<p>Some are seconds and irregulars but they should be marked as such. It’s the only place I know of where you can get Nike stuff at a 50% discount. If I want the high-end stuff, then I go to a specialty store or outlet store.</p>
<p>“That’s a bearish candle. That’s why it is colored black at stock charts.”</p>
<p>that’s what I would have assumed since it was a big up day the day before - however it looks like its breaking out</p>
<p>“That’s a bearish candle. That’s why it is colored black at stock charts.”
Ok.</p>
<p>“that’s what I would have assumed since it was a big up day the day before - however it looks like its breaking out”
Ok</p>
<p>:)</p>
<p>[Trading</a> Program Ran Amok, With No ‘Off’ Switch - NYTimes.com](<a href=“Trading Program Ran Amok, With No 'Off' Switch - The New York Times”>Trading Program Ran Amok, With No 'Off' Switch - The New York Times)</p>
<p>"Knight’s failure to respond sooner was particularly mystifying to other traders because on Wednesday the firm had introduced new trading software. Industry experts said that this would normally be cause for programmers and other employees to be on high alert.</p>
<p>Once the problems began, many traders said it would have made sense if the firm’s employees had not caught the problems for the first minute or so, given the speed at which Knight’s program was firing off orders. After that, though, the problems were visible for all to see.</p>
<p>Howard Tai, an expert in high-speed trading at the Aite Group, said that at all the firms where he worked, there were several warning signals built into every computerized trading system. When all else failed, there was always the “automatic kill switch” that could immediately stop trading.</p>
<p>Mr. Lauer said, “It’s kind of mind-boggling that it got so out of control.”</p>
<p>[Knight's</a> rivals poised to gain retail share - MarketWatch](<a href=“http://www.marketwatch.com/story/knights-rivals-poised-to-gain-retail-share-2012-08-03]Knight’s”>Knight's rivals poised to gain retail share - MarketWatch)</p>
<p>How hft affects markets…</p>
<p>[Interview</a> With A High-Frequency Trader | ZeroHedge](<a href=“404 | ZeroHedge”>Zerohedge)</p>
<p>This was a rather heated debate on cnbc about hft:[Wall</a> Street Road Wrecks: Too Fast or Too Stupid? - CNBC](<a href=“http://video.cnbc.com/gallery/?video=3000106927&play=1]Wall”>http://video.cnbc.com/gallery/?video=3000106927&play=1)</p>