The Epic-ness of it All

Now we are talking my kind of weather! It is hot (80 degrees plus) and a bit of a breeze. Nothing finer. Whole weekend is looking the same. Big cookout on Saturday and I am bringing the smoked chicken drumsticks and MOINKS (via the EXCELLENT site, No Excuses BBQ). After today, a little celebration is in order.

Friday night is on, and Gawains has the lead off spot for his birthday present! get your requests in.

Added:
If you want the low down on the HBO series "Game of Thrones" or just want to be a cool reader, stop on over to my man David Batista's post this night to stand and be counted:
Stop in!

The Epic-ness of it All
Since I started trading in late January there have been more wins than losses, but more of myself getting in my own way at times. After vacation I renewed my effort to get back to basics: using the PPT screens that I favor and working just candlesticks and nothing else.

I loved the FURX find on Sunday night and after Monday's action I felt it was the time to strike while all the factors aligned; excellent PPT hybrid scenario and a volume move that was sure to make some kind of wave. Add in a classic inverted hammer and it was go time.

Here is the rundown:
-Open position in $FURX Tuesday morning at $14.18-Target is $15.35-$15.50 ( 3 days to a week time frame)
-Almost at target by end of day Tuesday (nice!)
-Blows past target price and 50 day moving average on Wednesday, also on major volume
-GYSC reviews absolute high target, sets at $16.90
-Late Thursday it close enough, trade closed at $16.82 for a 18.6% gain! Round it to 19% to make it sound better, lol!

Final chart with annotation; red arrows are entry and exit (click for larger view):

EPIC WIN!

Of course this one could shoot way higher or it could collapse, but the point is the position was targeted, execution was done and then amended, and an exit was followed. All the kinds of rules that I need to follow. Worked out super well on this one.

Not a Good Sign
TraderMark of Fund My Mutual Fund had this post up today:
Market Only Down a Few % from Highs, but Market Sentiment Horrible
With the market indices only down a little bit, trader sentiment is falling fast, almost as if a total rout is going on! From the post:

Usually market sentiment is a great contrary indicator at extremes. For some reason, despite a market that has barely sold off (down less than 3% from the peak) the American Association of Individual Investors sentiment indicator is at lows not seen since August 2010. You know what happened at that point. Not sure why such a negative view - perhaps the news from Europe is weighing more on sentiment than U.S. stock performance.

Unreal.

I commented:

This backs up what I have been saying 100% about FED induced "new normal" markets; if sentiment is this bad down, what, 2-3% from highs, WTF would happen with a 5% move? A 10% move down? Nice little pickle we are now in.

Managing expectations are a major goal of the FED. What is 3% market moves down are enough to cause such sentiment shifts? Keep this one in mind.

Have a good night.

Ask a Question

The wind today is huge and I am hoping it can clear off the rest of the acorns from the trees. I am looking forward to serious yard work ahead (snark)! At least I have a mini vacation coming up!

Tomorrow is Friday Night and you know what that means, but read on and see if maybe you, the readers, can add to the post.

Ask a Question
I had a few things I was going to write about, but I am not feeling it. More of the same it seems every day and it matters less all the time. A 1.6% print for GDP would be terrible, but it's great for now at this stage of the recovery. FX moves being made all around and Mexico writes Dollar options now? Ok. The mortgage document fraud stuff is now getting more coverage, but I already told you how that will play out.

I saw this headline when I got home:
Awesome Month For Stocks Ends With Frightening Thud: Here's What You Need To Know
When I looked up the closing numbers, it was barely down! Must be a bull market if a tiny dump makes headlines.

Most of all I guess I want to know what you, the readers, want to know about.

Between tonight and tomorrow around 7pm (eastern), submit questions or areas you would want my opinion on in the comments or via the email to the left. I will answer anything and everything that I can tomorrow night before the show. I will give you my take on anything. I cannot say I will be right or that I may even be able to offer something depending on your question, but I will do my best. This is your chance to "interview" Economic Disconnect! I know, try to contain yourself.

I actually wish bloggers would do this regularly, I would love to have a chance to get an inside look at how a writer I like thinks. I think my blog is small enough that I can handle the whole 5 requests I will get, but I can see how larger sites could run into trouble.

Questions can include;
-Targets for stocks
-Targets for metals
-My likes, dislikes
-Music
-Boxing History
-Genetics/Biotech/Microbiology/anything related
-Books
-Personal Experience (keep it clean!)
-ANYTHING!

Let it fly and I promise to get everything answered. How many times will you get this chance? Along the way I may get an idea what people are thinking about and wondering about right now and that may guide some posts going forward. I do get something out of it!

If nothing else, just leave a Friday request so I know folks are out there!

Filler
When I was not at Wikipedia, FINVIZ, or my blogroll here is what I clicked today and into tonight:

-Most complete beer 'proteome' finding could lead to engineered brews

-It's not legs or breasts that make men go weak at the knees - to catch a fellow's eye, show a bit of arm (BALONEY!)

-Ok I wrote this one in jest (not really): "Study shows that TARP and QE Money used as a total tax holiday for taxpaying Americans would have led to an amazing economic recovery, as proven by Chi Square analysis"

-The Sauciest Moments from the Best Ever Month of Sci-Fi Burlesque (NSFW oops!)

-Bad Ex

-Ok, One Financial! Mish gets a letter from a REAL LIFE business owner, the kind the FED never talks to, and here is what he has to say (summation):

So QE actions by the Fed have no effect on us. Interest rates could go to zero and it still would not matter. What we are NOT seeing are credit card rates going down - now THAT might help us somewhat.

Keep buying those bonds Boom Boom!

-Can Bacteria Make You Smarter?

-Could computers and robots become conscious -- if so, what happens then?

-Zacatecas 8 Reale Discussion

-BBQ related: "September 4 Ingredient Challenge" done well by the maestro.

-Ha! Paper money swappable for gold!

-Or pure fiat!

Have a good night.