On Mon 2/11, Dow Jones announced they were changing two components of the DJIA by adding BAC and CVX and removing MO and HON. As Livermore would say, when idiots realize they underperform, they change the rules. I'm wondering why they even removed CVX in the first place since it was part of the Dow until 1999. As for BAC, I'm going to enjoy watching this stock tank as since its down 20 cents from it's Monday close. As for MO being removed, call it the Bernanke put since big money is starting to figure out he's an idiot. I'm thinking the averages are going to miss HON since it was the top performer for 2007 and nobody I know picked it.
No relevant news on Tue with the S&P up a 2nd straight day.
Wed 2/13, FSLR beat earnings, reported 80% increase, stock up 50 points, oh my. closing around 223. This stock was literally destroyed for 20 trading days, and even some newby option dude blogging about their 27% gain on sheer luck having the audacity to ride a Feb 190 call option 90% down before getting the mother of all bounces. Averages up a third straight day.
I attempted to short CMG prior to earnings about 10 minutes before the close BUT there weren't any shares outstanding. I attempted to buy 10 Mar 110 put options at 10 but their were no takers.
Thur 2/14, Valentine's Day "Massacre". I should have listened to my own instincts as Bernanke spoke to Congress. Evidentally what he said wasn't good because the markets have retraced all of yesterday's 200 point gain in the Dow. Best performer TWM, up 4%. (Ultrashort Russell 2000)
CMG just reported and it's down 15 points. Well at least you had the right instincts. Tomorrow is Friday before a 3 day weekend, so I want to at worst short an index to have exposure prior to Tuesday.