MaoXian.com -- Archive > June 7, 2004

What a strong and steady tailwind out there today! Clear trend day... the Dinky Scalpers probably took two points out of a 20 point move. EOD Suspects:

Posted at 9:43 PM, GMT

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A look at this morning's Dummy lesson in the E-minis. Given the impulse up at the open, you'd have to be thinking long. Bar 3 offered a nice spot to get long (above 1129), but look where where last Friday's high is? So that would've been kind of a dangerous spot to enter: the reward doesn't outweigh the risk.

Sure, you could have grabbed a Dinky Scalp out of there if you were fast enough, but the Chairman hasn't yet graduated from the School of Dinky Scalp.

E-mini S&P future, 5-min. Chart

Posted at 3:34 PM, GMT

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People have been asking me for poker tips for some reason (I'm really not a very good player). One thing I try to do is identify the "cliffdivers." These guys are the action junkies -- they like betting big, raising big, going all-in frequently. They're the types who enjoy stealing pots or winning while holding the "worst" hands. I avoid these guys. They tend blow up pretty quickly, but not before taking a few others out, and I find it's best to stand aside when they're in the pot.

Posted at 3:17 PM, GMT

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SBC to offer Wi-Fi access at 6,000 McDonald's

"The number of public Wi-Fi hot spots is expected to double this year to more than 130,000 in the United States ... many analysts remain skeptical that there is a profitable business in selling Wi-Fi access, with competition from free Wi-Fi spots and other data services."

McDonald's will sell more apple pies with coffee though. (The dirty secret is McD's coffee is better than Starbucks', but shallow Boomers feel better when they pay more.)

Posted at 12:20 PM, GMT

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Xinhua Finance to Purchase Mergent

Posted at 12:13 PM, GMT

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Is your MP working for you? Find out via TheyWorkForYou.com. The US Congress needs something like this.

Posted at 12:04 PM, GMT

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Caterina started a new blog called Bizwerk (unfortunate name) which is on Clog*Spot. (Is Clog*Spot less clogged than it used to be?)

Posted at 11:47 AM, GMT

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Tidbits from an interview with Seth Glickenhaus (going strong at age 90) in Barron's this week. I agree with him on every point.

"... Bush has been worse than zero as a president ... Kerry is a mediocrity ... the Federal Reserve... has kept interest rates much too low for too long ... If I were a young man, I would certainly settle [in China]. The mere fact that a man is bright enough to run a company well doesn't mean he understands what his stock is worth. That is one of the great paradoxes. The stock market is a world of its own."

Posted at 11:34 AM, GMT

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John Cleese on his character Basil Fawlty:

"In this country a certain number of people assume that I must be Basil. I think it's because I caught something about the British character -- [something] so essential to a certain kind of lower middle class conglomeration of attitudes -- that it struck home and caused me to be identified with this wretched character, this awful man, ever since."

We watched an interview with Cleese and were impressed by how intelligent and articulate he is. He said one of his most memorable lines from Fawlty Towers was "Where's the pleasure in that?" which made me smile because I like that line too.

Posted at 8:49 AM, GMT

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