Ketchin' UP

Out of town last weekend, we had some other non-work related items to take care of over the weekend, wasn't able to post the weekly update and random collection of dis-connected comments.

So the indices are getting awfully close to having that 'rolling over and dying' kind of look to them. They are breaking, getting ready to break or have already broken some major upward trend lines of support. Will this mean we are headed lower or is it the all-too-common head fake before taking the market higher?

Trailer for Wall Street 2: Money Never Sleeps is out now. 1:30 of spine-tingling action featuring an old MD and a goofy SLB. I also had the chance to read the screenplay (all 125 pages of it) last night and I have to say the read isn't half bad. Based on how slick the trailer looks, along with the plot and dialogue laid out in the script, they could actually have a shot of piecing together a pretty good film -will it ever match the greatness (minus Daryl H's disastrous role) of the original. Bud Fox and the brick cell phone even make cameos in the new film.

Of course the movie takes its digs at the HF cowboys and it has several thinly veiled references to big hitters like Stevie Cohen's SAC Advisors and Also Dan Loeb's Third Point. Lots of jetting across the pond, parting with rich Russians, the Dubai scene, lots of clubbing and fast cars and bikes and scantily clad models. You know, just an average day at the office.

The movie is set to open in theatres April 23rd. I'm sure I'll be catching it soon thereafter.

In more market-related news, the VIX is up, the tech stocks are down, oil and gold are both down, what's going on?? As they are always fond of saying, time will tell.

Re-reading Reminiscences of a Stock Operator, such a great book, it's good to go back and re-live the ups and downs of Larry Livingstone's trading career.

Also had a chance to read the Bear Stearns book, Street Fighters, chronicling the last 72 hours in the life of Bear. I had a chance to read the John Paulson book too, it's pretty darn interesting. The book also tells the tales of several other managers who were on the same track as JP but met with varying degrees of success on the trade. Probably going to read Diary of a HF Manager next, or possibly Greenblat's book, not sure which one first - we'll see what kind of mood we're in.

Happy weekend.

DJIA 10,067.33 -53.13

NASDAQ 2,147.35 -31.65

SP500 1,073.87 -10.66

and we're off.....

Oil and Gold seem to dominate the financial sector news blotter right now. Throw in the gyrations of the US dollar and there's a recipe for some volatility in 2010.

Lots of good books out right now. Just finished Street Fighters: the last 72 hours of Bear Stearns. Many good titles that cover the meltdown of several firms, the credit crisis in general and the few investors that saw the impending doom and reacted correctly.

Looks like lots of potential changes at C in the coming months. Wonder where Count Vic will end up?

Options galore in the fund: partners/strategy/goals. Big decisions.

Happy weekend.

DJIA 10,609.65 -100.90

NASDAQ 2,287.99 -28.75

SP500 1,136.03 -12.43

kicking it off again

A new year, a new performance counter. The tally re-sets to 0% on 1/1/2010 and now it's go time again. As far as markets, oil is on the move again, the equity indices are looking good after a final year-end run. The VIX and trailing and forward looking P/E on the major indices are essentially being ignored right now as the bull market rally or as some call it, bear market rally, pushes onward.

Renewed vigor, new possibilities and a focused commitment. All good for January 2010.

Happy weekend.

DJIA 10,618.19 +11.33

NASDAQ 2,317.17 +17.12

SP500 1,144.98 +3.29