Times They are a Changing

Is it Thursday yet??????

Market Operations
I think it is because I feeling so much better, but I am getting juiced for market action again. I am back in the trading turret for sure. Armed with iBankCoin's PPT system and the 12631 Trading room I am getting back in a groove. Special thanks to my man chessNwine as well.

The Good
CSU is behaving well. I may be looking at my target area of $9.70-$10 by weeks end if the euphoria sticks around. I bought ASYS today and the chart is shaping up nicely for a higher move. In the 12631 I went full bore on an idea concerning semiconductors as a whole. You DO NOT WANT to know how hard I got positioned for this, it's not like me and I am really overweight one idea. It felt right though. In time I will reveal the play.

The Bad
Torn between WM, NI and GPRO this morning, I went with a small position in GPRO. This was based on technicals and such, but a news event cratered the stock and I ate a 3% loss. Not a mistake per se, but a missed opportunity on a day when almost everything went bananas.

The Second Chance
Still have my eye on WM, but I had mentioned NI as a possible break out idea (close over $20.50) earlier in the week. Here is today's look:

I have to admit this one is a blind spot for me as NI has not seen $25 since 2007 and $30 was last printed in 2001. I thought this one was a new all time high! Still, making headway into new recent territory is a tough trade for me. I may buy it on any test of $20.50 this week anyway. I am feeling that froggy.

I hope that was enough market action for the readers, I know it was for me!

Added: Around 1pm I Tweeted "1324-1325 for SP500 close today seems about right.". Of course it closes at 1326.7, ugh!!! I was trying to make a splash!

Shocking Headline of the Day
3 monster headlines today, shocking as they can be:
-Apple beats Estimates, Shares Rise
-Sun Will Rise Tomorrow
-An Apple Fell from a Tree, Hit Ground
You can't believe any of it, I know!

Times They are a Changing
Apple earnings (just amazing how much cash that cult company generates!) got me thinking today.

For a long time I have always equated the stock market with the US economy. Record earnings by large multi-national firms and great earnings growth by all other firms tends to come from cheaper labor abroad and SALES abroad. The US economy is in the middle stages of serious deleveraging but now there may be critical consumer mass out there around the world to replace that demand. I saw that 60% plus of Apple earnings were retrieved from overseas. That is a shocking number for a US centric thinker.

To be sure there are currents of hot money, free liquidity, and animal spirits pushing many stocks to levels that make no sense. At this time I cannot see a reason not to go after the best ideas and the best setups one can work out***. The stock market may be off in it's own world, but that does not mean it cannot be touched.

***NOTE: EconomicDisconnect is the ultimate contrarian indicator. A close for the S&P500 under 1000 tomorrow cannot be ruled out after this post.

Have a good night.