Phantasmix Stock Blog

Stating the obvious here: Obama is proposing to raise the taxes, particularly on investment capital gains and dividends. If enough people believe Obama (barf) is going to win, and McCain (barf) is going to lose, there may be a lot of stock selling just to lock in the lower tax rate on cap. gains.

2 wins, 0 losses… 0 satisfaction. Horrible choppy week.

I’m all short again but this time I’m not very confident. However, I’d still be much more afraid to be all long.

Bad day. Pretty much flat: -$12.37.

I added QID today to hedge my QLD. Timing wasn’t right but I feel safer, will sleep better than if I didn’t do it.

Still have to get rid of 4 positions this week, as per the plan, but I won’t force it. No need to incur losses if I can wait.

Meanwhile, in preparation for my “big bucks” plan, I’m going to stalk (X: 43.77 -1.35%) (U.S. Steel), looking for a good entry point, long or short, it just has to be convincing.

X Charts of every flavor

Read more »

Reading these figures, I can’t help but think that it’s “each man for himself” in this world.

All figures are for one year:

• Basic education for all the people in the world would cost $6 BILLION
• Installation of water and sanitation for all would cost $9 BILLION
• Basic health care and nutrition would cost $13 BILLION

Total: $40 Billion annually

• $8 BILLION is spent annually for cosmetics in the United States alone
• $11 BILLION is spent annually on ice cream in Europe
• $12 BILLION a year is spent on perfumes in Europe and the U.S
• $17 BILLION a year is spent on pet food in Europe and the U.S
• $35 BILLION is spent on business entertainment in Japan
• $50 BILLION on cigarettes in Europe
• $105 BILLION on alcoholic drinks in Europe
• $400 BILLION on narcotic drugs around the world
• And finally, in ONE year alone $780 BILLION is spent on firearms and munitions (I suspect this number is now higher)

(This, right here, is a list of economic sectors to invest in if you’re inclined to do so.)

Okay, 3 words: I lack it!

I’ve had this “master plan” for about 3 weeks now, but unfortunately don’t seem to have any patience and just can’t stick to the plan (more on that later).

Got mired in a lot of new trades the last couple of days. 7 active trading positions right now.

Let’s rationalize each one:

• (SKF: 19.98 -0.25%) – still have 50% of the position. It closed at the high of the day. Will keep for now.
• (LVS: 26.93 +0.90%) – low volume today, green on a red market day, but it was red on a very green Friday. Don’t understand the stock. Had a chance to get out this morning with a tiny profit, but held. Should cover this week.
• (VLO: 16.90 -0.76%) – disappointing so far, but I have no problems with the fundamentals of this company, and believe it will go higher soon. Willing to hold until it gains.
• (PLCE: 43.83 -2.62%) – 1/2 the normal volume today, end of day looks like short covering to me. I will hold this one until it fills the gap up from last week.
• (MOS: 47.59 +2.45%) – new short. I have no conviction that I’m right here, but my position is very small (50x). Target $95-100.
• (QLD: 57.65 -1.50%) – this one was scary, I bought it mid-day today, I believe close enough to the bottom of the day. Moneyflow is showing that today money’s leaving (QID: 17.31 +1.52%) (ultra short QQQQ) and is coming in to QLD. The ratio of buy/sells is 107/100. Last Friday SKF was being bought on weakness with the ratio 104/100 and look where it is today. Hopefully QLD will follow suit, however I realize it’s an extremely small sample, statistically Moneyflow is the one indicator I’ll keep track of from now on.
• (JCP: 24.65 -1.08%) – had a chance to get out for a profit today, but convinced it has more downside. Should it go up tomorrow, I will not cover, want at least 2 points on it.

Ok, so the plan.

1. I want to exit at least 4 positions for a gain this week.
2. Must not rush into anything as I usually do.
3. Pick a stock (or ETF, *sigh*) and try to time an ideal entry, then go all in. I want more reward with less trading. I must be certain technically, so no this “no conviction” stuff.