Snow Job

I heard an explanation that the snowstorms might have helped cause the rise in claims this week. Regardless, the numbers are still dreadful for where we are in the recovery. If we get a lot of hand wringing ahead of next week's claims numbers that might be a good time to go long for a trade. A negative outcome would likely be baked in and the upside is if the snowstorms did indeed effect this week's numbers or a plain old buy the bad news reaction.

15 comments:

Random Thoughts said...

reminds me of RIMM post

PJ said...

True enough, Tsachy ... but make it a few-hour trade because Friday's monthly payroll numbers, a much bigger market mover and released the next day, are likely to be bad. Survey was conducted right in the middle of the snow storms, on top of the weak claims data we've seen.

PJ said...

A better plan would be to wait for the payroll data and go long at the open Friday morning (buy the rumor, sell the news).

Anonymous said...

This is the recovery that only involves people with college degrees or beyond that are in the service sector.

All people with high school degrees who aren't entrepreneurs and working labor jobs are having their old jobs outsourced to Botswana

That's what it seems like.

Anonymous said...

Sold CNLG @ 2.17

Cash money ya'lls (just a little bit)

OL DAWG

Random Thoughts said...

dawg, i wish i had balls half as big as you, i dumped cnlg-ingus this morning at a loss

Tsachy Mishal said...

Thats why hes also known as Gonads of Steel

Anonymous said...

What's the big deal about being down 10%. Who cares.

YOu should see this guy Neke on Elite Trader.

HE's trying to take 400K to 4 mln this year and he's already down like 50%. I say he'll be at 1 mln at the end of this year.

Anonymous said...

Also if you get long a stock that's already down big to begin with like I do and it goes down more, you just buy more. That's why I bought more MIPI today at 1.26.

Usually it works, but once in a while you'll get screwed by buying a stock that delists or goes bankrupt. If you buy one of those, you don't deserve to trade anymore anyways.

nicasurfer said...

getting short here guys

Random Thoughts said...

i cant believe the bulls won today

PJ said...

Odd, isn't it ... I've mentioned before that whenever there's a push on the health care bill, the stock market does well ... as soon as the health care summit was getting reported, the market started recovering ... Not saying that was the cause, but it's one more data point -- and this has been a universal pattern since last summer.

/tin foil hat off

Random Thoughts said...

@PJ

do you play world of warcraft?

@Tsachy

Good call on GPS

PJ said...

RT - No. Why?

Random Thoughts said...

the "/write something here" was something i saw alot when i played that game