Bought some SCO today

Bought some SCO today in the $32 range.....

GL  

Dylan Ratigan leaves Fast Money and CNBC, Doooh!

A comment from another blog that I thought was funny as hell.

Ratigan is leaving? That’s the last time Maw and I will ever watch that show. Even when Melissa “Tweety Bird” Lee was there, I’d throw an old slipper at the fucking tube. Still like Macke and Finerman. Finerman started out utterly inept, must have had a brain transplant because she started making sense. If we aren’t watching that show, nobody will be. The very fact that they were airing Zach “the Middle Stooge” Karabell and Taco Joe “Deer in the Headlights” “Goldman’s is Best of Breed” Terranova was a sign the end was nigh.

Ratigan actually has a fucking brain and some semblance of outrage.

I am going to miss old Dylan.  I honestly believe he made that show.  I think his only replacement could be Melissa Lee (not a chance in hell) Rebecca Diamond.....

Price by Volume tool used by Brian Shannon

This tool is what Brian Shannon uses which is similar to the VWAP (Volume Weighted Average Price) which can be used on the website BigCharts.com (witch I often use because it is free and handy).

Brian showed us how to use this tool to find possible areas of support and resistance. You can use it for different time frames and frequency...

Basically you go to bigcharts.com and pull up a chart. For my example I am using symbol GFG. For the first chart I used the 6 month time frame and the daily frequency. For the second chart I used the 5 day time frame and the 15 min frequency.

Looking at the charts you can see the areas with the highest volume by price became support and resistance. This tool can be helpful to find entries and stops when trading a stock....

Did some scans tonight.... GRO, MXM, STEM

I briefly did some scans tonight and found some charts that caught my attention...

The first one is Agria Corp (NYSE) symbol GRO, I noticed the bullish breakout from the pennant pattern...

The next one might be a reach but can be followed for a possible trade.... MAXXAM Inc (NYSE-Alt) symbol MXM (I did not look at the spread on this stock, but you might want to check that out if you want to trade it, extremely low floater if yahoo finance is correct) this one might be fun just to watch just to confirm TA later on :D

The last one did not really jump out at me, but it could be added to your watchlist as well is Stemcells Inc (NASDAQ GM) symbol STEM, also EMKR if it can break and hold the 50dma, it does have increasing volume which is good.

I will do more scans later on this weekend....

IQ HEDGE (QAI) - First U.S. listed hedge fund replication ETF

IndexIQ Launches First U.S. Listed Hedge Fund Replication Exchange-Traded Fund

NEW YORK--(BUSINESS WIRE)--The first-ever U.S.-listed hedge fund replication Exchange-Traded Fund (ETF) has been introduced by alternative investment ETF pioneer IndexIQ, it was announced today (Wednesday March 25, 2009, 2:01 pm EDT).

The IQ® Hedge Multi-Strategy Tracker ETF (NYSE Arca: QAI) seeks to replicate, before fees and expenses, the returns of the IQ® Hedge Multi-Strategy Index. The Index is designed to capture the risk-adjusted return characteristics of the collective hedge fund universe using multiple hedge fund investment styles, including long/short equity, global macro, market neutral, event-driven, fixed income arbitrage, and emerging markets.

The ETF-based approach to hedge fund replication offers a number of advantages to investors, including intra-day liquidity, portfolio transparency, lower fees than the typical hedge fund, the elimination of manager-specific risk, and real-time pricing. The IQ® Hedge Multi-Strategy Tracker ETF uses a wide variety of liquid ETFs currently in the market to build the underlying portfolio and does not invest in hedge funds.

“The IQ® Hedge Multi-Strategy Tracker ETF brings together two of the most significant developments in the investment business over the last several years – the growing importance of alternative investments and the convenience, low cost, liquidity and transparency of ETFs,” said Adam Patti, chief executive officer at IndexIQ.

http://finance.yahoo.com/news/IndexIQ-Launches-First-US-bw-14743895.html

Sold some long positions today (SPY, USO)

Today I sold my long positions in my SPY and USO. We may have a little more upside but I think we have moved too far too fast and I want to take a little profits. If you look at my entries for both SPY and the USO, I think I may have pegged the bottom for both of these ETFs for 2009 and I contemplated holding onto them for longer term but I am going to take profits where I can get them and move on to the next trade. I do not think we will test the recent market lows but we will have a significant enough retrace that I will be ready with cash in hand. I have yet to play the short side on anything. I honestly believe that if you want to truly be successful in this market you really need to be able to play both sides. I have a good understanding of the inverse ETF's, I am just more comfortable playing trades on the long side. In do time I dare say, lol.

SPY: In at 68.95, sold today at 82.06
USO: In at 22.93, sold today at 30.94

Looking for Corporate Bond exposure for your portfolio, but want to use a simple ETF; here are some choices...

iShares iBoxx $ Invest Grade Corp Bond (LQD)

The investment seeks investment results that correspond generally to the price and yield performance of a segment of the U.S. investment-grade corporate bond market as defined by the iBoxx $ Liquid Investment-Grade index. The fund typically invests at least 90% of assets in the bonds of the underlying index, and at least 95% of assets in investment grade corporate bonds. It may also invest in bonds not included in the underlying index. The fund may also invest up to 5% of assets in repurchase agreements collateralized by U.S. government obligations, and in cash and cash equivalents. It is nondiversified.

http://finance.yahoo.com/q?s=lqd&.yficrumb=q6W0vNCxpGt

iShares iBoxx $ High Yield Corporate Bd (HYG)

The investment seeks to replicate the performance, net of expenses, of the iBoxx $ Liquid High-Yield index. The fund invests at least 90% of assets in securities that comprise the index. However, it may invest up to 20% of assets in certain futures, options and swap contracts, cash and cash equivalents, and in bonds not included within the index. The index is a rules-based index consisting of the most liquid and tradable U.S. dollar-denominated, high-yield corporate bonds for sale in the U.S. The fund is nondiversified.

http://finance.yahoo.com/q?s=hyg&.yficrumb=q6W0vNCxpGt

SPDR Barclays Capital High Yield Bond (JNK)

The investment seeks results that correspond generally to the price and yield performance, before fees and expenses, of the Lehman Brothers High Yield Very Liquid index. The fund normally invests at least 80% of total assets in securities that comprise its benchmark index. It may also invest its other assets in securities not included in its benchmark index. The fund is nondiversified.

http://finance.yahoo.com/q?s=JNK