link

Valuable post worth linking to:
Dennis Gartman's Stock Trading Rules

links

Links to all the trading blogs you could ever want to read can be found on the MarketRoll site (first one to the left). I've found that I just don't go blog-hopping anymore and figured that if people come to this site as a conduit for other sites they could just as easily bookmark the MarketRoll link in their browser's toolbar and save themselves some time.
If you have a compelling argument which you think might change my mind, by all means let me hear it.

Be Prepared

THIS sort of omen is not to be ignored or taken lightly.
With the China market taking it on the chin last night and the U.S. Dollar (and U.S. Treasuries) possibly finding support, we should be more prepared than ever to respond to a blow-off top in the near future.
"Trends end in a climax."

one more

Thought I would share one more twitter post, here's the link to the article:

Wed. morning

Strange start to the day, as the SPY had a very tiny gap (I've been getting used to seeing more sizable gaps) and the VIX gapped way down on the open (VIX settlement?).
I've been using Twitter more often lately. Those that I'm "following" have been providing some great insight on a daily basis, here are a few:

Titanic Lehman

Just wanted to share this infographic found at GOOD magazine on The Largest Bankruptcies in History.

perspective

Interesting look back at the '01 counter-trend rally in the Q's from alphatrends. Follow him on twitter.

Accumulation/Distribution

Reading an e-book found on this traders blog (a lot of good info to be found there). The ebook can be found here.
Here's an excerpt:
"The trick is to figure out whether this new "consolidation" period represents accumulation
or distribution, and the only way I know of to be sure is to watch the relationship between
price and volume. How does the stock react when a lot of stock is dumped onto the
market? Does it tank or does it decline only a trivial amount? Is there follow-through to
this action or are the following days business-as-usual? If it's a short, sharp decline with
no follow-through, you're probably looking at a "shakeout" (forcing weak hands to sell their
shares so the stronger hands can pick them up at a discount) or a spree of short-selling,
but the latter is unlikely since it usually takes place over time.
Another help is to draw a line parallel to the bottom of your price-and-volume graph so
that only the busiest days show above your line. Note what happens on the busier days.
Is the price up or down? What about the slower days? Again, price up or down? If the
price rises on heavier volume days (though not enough to break out of the base) and falls
on lighter volume days, the stock is most likely being accumulated. Or vice-versa if it's
being distributed. (emphasis added)
It is important to remember that for a transaction to take place, there must be a buyer and
a seller. Huge volume and an increase in price indicates a lot of buying, but it also
represents an equal amount of selling. Volume, in other words, reflects only the number of
shares traded. Whether the pressure is on the demand side or the supply side is reflected
in whatever happens to the price. Unless you put this activity in a context of markets,
market psychology, and demand and supply, you stand a good chance of misinterpreting
what's happening."

updated

I updated the list I'm keeping for daytrade-able stock candidates. I'm keeping a link to it in the sidebar of this site, under "More Links" entitled "Spreadsheet".

smoke em if ya got em!?

It's about time we start living in the 21st-century. Now let those cigars into our country already!!

cnbc

fixcnbc.com

wow

pretty awesome video recreation; gave me chills.

some links

-Two diametric opinions...the wishful thinking? and the perhaps a little more knowledgeable?

-More idiocy from the people who run our country.

- There's a (new) whole section in newsflashr dedicated to Gold and the Dollar!

- After three months California finally has an approved budget. Some of the ingredients include:
-an elimination of Public Safety Grants (a decrease of $23.9 million, b/c who needs the petty "Rural Crime Prevention," "Methamphetamine Enforcement Teams," "Sexual Assault Felony Enforcement
Teams," etc.).
- An increase of $3.3 million General Fund and $2.5 million special fund to address problems caused by overcrowding in the Sacramento headquarters building. Those poor babies.
- Flavored Malt Beverage Taxation - "regulations that require flavored malt beverages to be taxed at the distilled liquor rate of $3.30 per gallon, as opposed to the beer rate of 20 cents per gallon.
- An increase of $17.1 million Emergency Response Fund via a 2.8% surcharge on all residential and commercial property insurance statewide.
- Comprehensive Healing Arts Board Fingerprinting Program — An increase of $5.8 million to fingerprint and conduct background checks for all licensees of the Department of Consumer Affairs healing arts boards to enhance consumer protection. I have no idea what this is all about.
- I love this...Prop 42 initiated a temporary 1.5% increase in sales tax, but due to "economic conditions" revenues from this proposition have declined since '08.
- An increase of $12 in annual vehicle registration fees.
- An increase of $11 million Motor Vehicle Account for production of
the new driver license/identification/sales person cards that will require a $3 increase
in driver’s license fees.
- $140 million from federal funds in 2008‑09 for local governments to rehabilitate neighborhoods with abandoned or foreclosed homes.
-General Fund expenditures are proposed to decrease by $1.025 billion in 2009‑10, or
3.3 percent, "significant reductions necessary to address the state’s fiscal shortfall" a theme expressed throughout the document.
- A decrease of $50.8 million in 2008‑09 and $668.7 million in 2009‑10 for various eligibility and benefit changes in the Medi‑Cal Program.Really though, it can't be easy to shrink a $42-billion deficit, can it?

the real victims

Hardly anyone, I'm sure, is feeling the pain of the financial crisis more than those princesses of corporate exec's?
Hilarious.

where will all the jobless go?

It's encouraging to know there's somewhere to turn.

big broth..er...government

Over at Mish's

nice graphic

god bless america

Short Keanu Reeves

Cantor Fitzgerald seeking to launch an exchange to trade "Domestic Box Office" Receipts."

asleep at the screen

An unbelievably indecisive, choppy session today. Here's what I ended up looking at throughout the day...
- A fun SuperObama game
- A new and improved condom
- The new Blackberry Storm
- What the Depression will be like
- Test drive the new 3x ETFs
- Mark Cuban charged with insider trading
- More people out of jobs
- after 8 years Japan is back in recession
- Goldman execs are such the philanthropists
- Haliburton seeks patent for suing "non-inventors"
- Congress finally getting some balls
- G20 meets this weekend and gets nothing done
- Will the gamblers come once the casino is built?

Also, check out the state our real estate market here in Ca...