Ha, sure enough, the moment I switched off the screen they pushed Papa Smurfit all the way up to 16.54 stopping the Chairman out along the way. I can live with 25 cent losses, but it is annoying when cynical pushes like that are made in the face of overwhelmingly bad tone. We'll try again tomorrow.
Taking off, see you later.
I would've shorted TSM but it's an NYSE stock and I didn't want the specialist to "fair and orderly market" me out of the stock to his advantage. Every time I see specialist monkey business I cry: "There they go again, keeping a fair and orderly market."
Tone is still very poor but it looks like they may run a jam on the Smurf to clear out tight-stop shorts like me. Tight-stop shorts should not be confused with tight-ass shorts, like the kind my yoga teacher Aki wears.
Short the Smurf (SSCC), p stop 16.33
Tone is poor, I'm favoring the short side.
Eyes on NVEC, SIGA, TASR....
The idea that the assassination attempt on Chen Shui-bian was "staged" is absurd. It would take a hell of a trickshot to bounce a bullet off of Annette Lu's knee and just graze Chen's tummy.
Qingling Motors is teetering on the brink. I may have to pick up the phone and sell this one this week if it continues to misbehave.
Qingling Motors, Weekly Chart
Linda Bradford Raschke recently did an interview (PDF) with Active Trader magazine, and as always it's a goldmine. Read and re-read her every word.
"Spend your time, money and resources in markets where you can ultimately move size. You need liquidity. Once you're consistent, the goal should be to increase your size."
There was one interesting thing in Barron's this week. In an interview, Ian Bremmer said something I agree with:
I also learned that Richard Russell has 7,000 subscribers to his Dow Theory Letters service. At $250 a pop that's $1,750,000 a year in subscription revenue for Russell, which proves once again Martin Fridson's classic crack: "The only thing we know for certain about technical analysis is that it's possible to make a living publishing a newsletter on the subject."
Jim Grant does a U-turn and says Forget TIPS.
How Google Is Revolutionizing the Ad Game.
Top 20 Current Events & Global News Sites. The only ones I visit regularly are Yahoo! News, NYTimes.com, washingtonpost.com, and Google News.
There was an article in last Monday's Wall Street Journal called "Blogs Grow Up: Ads on the Sites Are Taking Off." I learned that ad revenue at Daily Kos is around $4,000 a month and Talking Points Memo makes around $5,000 a month. Not bad!
This line from the article made me chuckle (emphasis mine):
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Chairman MaoXian