Wednesday, January 12, 2005

Time for the Pop?

Are the heavy-weights through selling? Will Intel's earnings be enough to pop the market up tomorrow? Or will the heavy-weights use the strength to continue their liquidation?

All good questions. And this guy has no answers. Just a warning. Everyone is now used to strength in the morning and weakness in the afternoon. Tomorrow sure looks to start out strong. If so, you can bet your hard earned dollar that retail traders will be shorting that strength hard and fast. Might lead to a nice little squeeze in the afternoon for those traders. That is if the heavy-weights are indeed through with their selling.

A side note. Has anyone been watching SBUX? I for one have never understood this stock or the company. Now, don't get me wrong...I must have my daily cup of joe like the next fella. But, c'mon. Their prices. You gotta be crazy. The local Diamond Shamrock store has a nice little coffee shop with prices more to my liking. And if you don't like that try a Dunkin Doughnuts or the many places sprouting across the country selling premium coffee for discount prices.

Can SBUX really survive long-term? At these stock prices? The recent announcement of MCD entering the premium coffee biz makes me wonder. At least the war between these two very different companies will be fun to watch. Especially with SBUX getting into the hot food business.

And if MCD isn't enough of a worry maybe KO is. With the rumor of a new coffee-flavored coke possibly hitting the market. Read here.

Of course, you've got to add the widespread ownership of SBUX to boot. There's only one exit fellas. Single file, single file.

Note: I do not have any position in SBUX, MCD, or KO at the time of this writing.

Daily Systems

Current Open Systems:

Symbol System Entry Date Exit Date Profit/Loss%
WAG BreakUp 1/4/2005 open +3.27%
QQQQ Tii100Low 1/5/2005 open -1.09%
QQQQ BBLower 1/5/2005 open -1.09%
QQQQ ATRBreakBB 1/5/2005 open -1.09%
QQQQ TrueRVolume 1/5/2005 open -1.09%
QQQQ VolSurgeDown 1/6/2005 open -0.93%
QQQQ Harami 1/6/2005 open -0.93%
ACV BreakUp 1/7/2005 open +0.02%

Total -0.33%

Please read the disclaimer on the website. This is not a recommendation to buy, sell, or trade securities. Just a journal of my travels through Wall Street. I can buy, sell, or hold any positions mentioned on this website at anytime. So, be warned.

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