GRNY and JOET Covered
I have covered my shorts in $GRNY at $26.88 and JOET at $44.25.
Position: None
A Very Quick Profit
Out of indices for a very quick profit:
* $SPY $738.27
* $QQQ $708.61
Position: None
Taking a Long Rental in the Indexes
I’m taking a small trading long rental in the indices:
* $SPY $736.37
* $QQQ $705.04
Position: Long SPY (VS), QQQ (VS)
S&P 500 Sector ETFs
At 2:55 PM:
Position: None
Abby Normal
Dr Frankenstein: Now that brain that you gave me, was it Hans Del Brooks?
Igor: No.
Dr. Frankenstein: Would you mind telling me whose brain I did put in?
Igor: Abby someone.
Dr. Franksenstein: Abby, who?
Igor: Abby Normal – I am almost sure that was the name.
Dr. Frankenstein: Are you saying I put an abnormal brain into a 7 1/2 foot long, 54 inch wide gorilla?
– Young Frankenstein Abby normal scene
Consider the following price changes in today’s session:
* $SNDK -$201
* $MU -$101
* $AMD -$51
* $MRVL -$38
To me, this should make investors consider whether the market has been nothing more than a casino — in which the many momentum-based investors know everything about price but nothing about value.
And that, as I have observed, the concepts of risk vs. reward and “margin of safety” have been generally ignored.
Position: None
The Judge Goes to the Charts
On The Death Star, Judge Wapner just refenced the chart contained in my “It Is Not Different This Time” post:
Position: None
Subscriber Question of the Day (And My Response)
Gord
HI Doug, any targets for MSOS? Thx G
Dougie Kass
i don’t do price targets. markets are dynamic and ever changing
there is a bearish view and a set of assumptions – yields price of $4
there is a base case view and a set of assumptions – yields $10-$15
there is a bullish view and a set of assumptions – yields over $20
Position: Long MSOS (M)
The Reason?
This is likely the reason for the last leg lower in equities:
Live updates: Iran war, Lebanon’s president speaks out, Hezbollah-Israel attacks | CNN
Position: None
For Kicks and Giggles
For kicks and giggles, here is my negative market outlook from earlier this week:
Position: None
Late Morning Market Stats and Charts
– NYSE volume 11% below its one-month average;
– Nasdaq volume 2% above its one-month average;
– VIX index: up 6.56% to 16.41
Positions: None.