3 sleeps until the Superbowl! It's getting harder and harder to block out the game.
Tomorrow is Friday night, so get your requests in for anything you want to see.
A basically flat day overall. Seems markets went on hold after lunch waiting for the jobs number tomorrow. This is silly, jobs are not coming back anytime soon and a 2% beat or miss on the number means little or nothing. But that's how things roll.
My three open longs (AREX, WTS, BANR) were about even today. That's not bad, but with so many names going bonkers (biotechs especially) it can be a little jealousy inducing.
In any case, resolution should be coming soon either through a breakdown of the market (maybe eyeing SPX 1320) or some sideways consolidation into next week to recharge the batteries for a run higher.
The Lexicon of Market Extremes
I was very skeptical of Twitter and held off on using for some time. I have to say it's a great real time tool for market observation. What's also important is that while most that write will settle down and write a calm and measured blog post or article, Tweets often show the very emotion and thinking going on right at the moment without filter.
And at no time is this more clear than at market extremes.
Tonight I will pick out some select phrases or terms you are likely to see any time on Twitter but the frequency, use of various punctuation, and use of CAPITAL letters will get very high at either market bottoms or tops.
"Margin Calls on the Way"
"Cramer Just Went Short!"
"That Went Fast"
"Deep Value Plays"
To be fair, market bottoms tend to be quiet affairs on Twitter as markets collapse, no one except random bears are talking much and the smart people are out of the market or not pressing their luck short.
"BOOM!" or "BOOM!!!!!!!!"
"Shorts" usually in conjunction with a "kill" type thing
"Trade the Trend"
"I am Almost Even on That ..insert stock.."
"Buy High, Sell Higher"
"Have to Get In"
"AOL Looks Good"
"This is Easy"
"Send a Stamp and $5 and get My Newsletter by Mail!"
"Who Needs a Good Financial Advisor?"
To be fair market tops are usually noisy and annoying Twitter as all the "players" come out of the woodwork.
Use the lists ans note frequency. By my count, we are not topping out and there is still a good mix of both.
Have a good night.