Phantasmix Stock Market Blog

Stock market must be starting to worry people again.

Here’s a chart for “recession” and “great depression” Google searches in the United States this year. Interest in these peaked in winter, returned in October and is on the rise again….

Sorry for the useless noise, but these charts really prettify my blog

Not too many trades today.

Shorted C, SPG, SDS, GE, PENN, COF, SSO, FSLR, RIMM, AMZN; was long KGC.

I work from a list of familiar symbols, just put the trades on in the morning and let them ride for awhile. I don’t like going “all in” on any one and as my margin grows I like to diversify a bit more, so instead of 3-6 symbols, I work with 8-12.

S&P is nearing 805, which is the first resistance level.

I’m very short over the weekend

Current Trade Positions – Long

• (EEV: 26.37 +4.35%) UltraShort Emerging Markets
• (DGP: 56.85 -1.04%) Ultra Gold ETN

Current Trade Positions – Short

• (FSLR: 43.91 -10.43%) First Solar — needs no introduction, new target $56
• (SDS: 16.77 +1.27%) UltraShort S&P500 ProShares — only core position, will add next week
• (SSO: 53.03 -1.36%) Ultra S&P500 Proshares — shorted at the close
• (AAPL: 493.42 +0.05%) Apple — very weak performance today
• (BIDU: 136.59 +0.85%) Baidu.com — one of a few stocks over $100 left, P/E 27, no dividend — good short to hold, have no fear
• (GE: 18.875 -1.33%) General Electric — small position; their portfolio is overstated by 35% according to mah sauces
• (X: 29.40 -5.19%) – US Steel
• (DIG: 48.46 -1.92%) Ultra Oil ETF — target: oil = $37
• (AMZN: 185.54 +0.30%) Amazon — overpriced, good intermediate short

Though SPY is on the “Buying on Weakness” list and total moneyflow is positive, block trades moneyflow is actually negative (block trades, from what I understand, means institutional buying — correct me if wrong):

Click to enlarge