Thursday, April 17, 2008

Thursday Calm

Based on my post yesterday, I thought some snake images might help to calm those testosterone levels that probably got all pumped up from yesterday's excitement. These images may turn out to be a great risk management tool to control your subconscious, chemically driven desire to trade irrationally.
Feel free to print them and keep posted next to your monitors.
My gift to you.
Also, to the best of my knowledge, Goldman is NOT acquiring Playboy, although rumors persist that an opening is being probed.
And the market report today. . .like watching paint dry. No need to even post a chart. Everything was in a narrow range- TICK, NYAD and the Qs (my universe). We got a pivot high signal at Wednesday's close, reflecting our previous study suggesting Wednesday as the day of the week with the greatest probability for such turns.
Earnings remain the name of the game and the price and volume contraction today is likely a reflection of the level of caution in the markets.
Of some interest is the accumulation underway on MSFT. Intermediate resistance at 31.25 is 2 bucks above the current price. May be a runner. Earnings report April 24th. Check out the prospects at The MAY 31 calls are .47 on a delta of .28.
With 10 minutes to go and the NYAD showing some positive momentum , I'm gone for the day.

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