Friday, December 31, 2010

The Shortest 2010 Market Wrap You Have Ever Read (SPY)

If 2011 is anything like 2010 we could expect to see more of a slow grind higher as de-leveraging and currency revaluation continues. The S&P futures closed up on the year though we really did not gain a ton of ground considering the pullback early in the year and the brief pullback in late summer.

They closed the S&P's green on the final day of trading on huge buying. You can notice this in the chart below.

We closed the year at 1257.50 and opened around 1100 even. Not a bad run. Yes we all know i am a bear at heart though with the currency manipulation by the Federal Reserve via the constant electronically printing of US dollars.

Have a happy New Year.

Trade what you see, not what you think.
Hedge Accordingly

TRADING in 3D Coming To A Theater Near You (IMAX)

Welcome to the last business day of the year showing of, "which rumor is true: the IMAX saga". If you expected action like this out of a in play headline stock on a day like today you either have a sixth sense and you need to start a hedge fund based on that sense or your a lucky son of a B.
Anyway the rumor mill churning out all kinds of goodies this morning about IMAX. The first rumor was as follows 

"Sony may bid north of $40 per share for IMAX, Daily Mail reports."
This sent IMAX shares to 36 bucks pre market.. notice on the chart above. 
Next wire 
"Sony, Disney in talks with IMAX about a takeover, BNN reportsCanada's Business News Network confirms that Sony is preparing a takeover bid for IMAX  at more than $40 a share." 
Dealbook goes onto say, "Daily Mail has mixed history of predicting takeovers, NY Times DealBook"

The really big hit came when the stock traded up to the 31 level then completely fell out of bed as the company IMAX responded to the rumor mill...
"IMAX responding to a request from the Investment Industry Regulatory Organization of Canada on behalf of the Toronto Stock Exchange following recent trading activity. IMAX is not aware of any corporate developments to account for this activity. The company's policy is not to comment on rumors or speculation, and accordingly does not intend to comment further."
IMAX shares traded as low as 28 bucks so far this session..

NetFlix Class Action Lawsuit Go Ahead (NFLX)

Not looking good over in mamby pamby land... News of a Judge granting a class action lawsuit against NFLX brought on by WMT.

(Courthouse News) "A federal judge granted class certification to Netflix subscribers who accuse the online DVD rental service of monopolizing the market by conspiring with Wal-Mart Stores and
     Consumers say Netflix was able to overcharge for subscription fees because it convinced the superstore to withdraw from the DVD rental market, leaving only Blockbuster as a competitor.
     The class will involve millions of members around the country, arguing the same points, according to the federal ruling in Oakland, Calif.z"

Wednesday, December 29, 2010

Interesting Rare Earth Elements Chart (REE)

5 min ascending REE

Mid Day Market Update, Futures Higher.. Again (SPY)

Is it groundhogs day? feels like it. We have melted up again today on declining volume as expected making new highs on the year up at 1258.50. This market is on a tear dont you say? The market is moving like a slug but oh well.

 Metals up just as economic burn mentioned though unexpectedly the dollar got decimated down through many levels of intermediate support.

1255 proved support. WE opened with a bit of futures selling before the open.....

Dollar is sitting on the the 80 level shelf looking weak. Though Not sure how sustainable the euro bounce is considering the light volumes. Next week should tell..

T3 Three Day Market Year-End Settlement & Contest (Top Step)