trending upward

All the averages (dow, naz and S&P) are maintaining their gains and more importantly, maintaining their upward trend lines.

Good stuff at dealbreaker.com, wallstreetfolly.com and bankersball.com lately. A fair bit of their content is news worthy and most (if not all) have a very humorous spin on it.

Interesting article in the latest Trader Monthly. A story about the first 500 days of a NYC hedge fund. 3 guys and a dream. Good performance and a mentor and they are well on their way to a long successful career. One can view the article here.

Happy classic autumn weekend. 37 days.

DJIA 12,090.26

NASDAQ 2,350.62

SP500 1,377.34

the Goog and Dow 12K

so yesterday the dow industrials closed above 12,000 for the first time. It also was the 19th anniversary of the big Black Monday back in October 1987. '87? Was it really that long ago? It only took 7+ years to go from 11K to 12K. Any guesses how long it will take to go to 13k?

The Goog is still rolling along nicely toward its goal of total world domination. Blew numbers away in pretty much every category. Analysts can't get their arms around this one. It continues to overdeliver on everyone's expectations.

Happy weekend.

DJIA 12,002.37

NASDAQ 2,342.30

SP500 1,368.60

bustin' out

Now that’s a trend. And so is this. And believe it or not, the Naz is getting ready to make a 5 year high. With the major markets looking so good, why are some people still pessimistic and net short? Why is the put/call ratio still signaling a sell-off? Is this run-up all a result of the fed ending their tightening stance? Many stocks look like they have reversed their downward trends. Despite what the bears say, that this looks like a great setup for the next move down, you gotta stick to your mantra, 'if it’s going up go long, if it’s going down go short'.

Happy weekend.

DJIA 11,960.51

NASDAQ 2,357.29

SP500 1,365.62

countdown

monday december 4 2006 6:30am pst, 54 days, 14 hours

lessons learned

So many lessons to be learned from Amaranth. Hubris for one. Risk management for another. Sticking to your strategy…the list goes on and on. Brian Hunter, the rogue trader du jour, was left to basically do whatever he wanted as far as taking on huge illiquid positions. The investment/risk committee felt comfortable with what he was doing. Given the volatility of the natty gas market and his prior experiences with Deutsche Bank, who in their right mind could feel comfortable?

breaking out

How close can you get to 2300 on the nasdaq without actually reaching it? Check Friday's close...All the indices look great to the long side if the rally has some legs and can keep moving in the upward direction.

So the Amaranth disaster is making waves. Evidently there have been a few other significant draw-downs and minor implosions over the past several months including Vega and Mother Rock.

Happy weekend.

DJIA 11,850.21

NASDAQ 2,299.99

SP500 1,349.58

all-time high?

The dow 3o is getting there, very close, can it break out to all-time highs? S&P still has a way to go on the all-time high, but it looks great over the long-term, maintaining its uptrend and breaking the near-term double top from several months ago. The Naz still lags the other indices but it is now solidly above its 200 dma and has continued a nice uptrend started in July/August.

Happy weekend.

DJIA 11,679.07

NASDAQ 2,258.43

SP500 1,335.85