Maria Said That Art Cashin Said That There Was A Lot of MRK Selling...

But I kept my position alive as I have a new trading idea I want to try.  Hopefully, I'm not one of the last people to convert to bullishism.  Typically, when even the bears become bulls, that's  a warning sign, but after reading several more of the Market Wizards interviews last night and seeing that one of the common denominators of trading success is an accurate trend-following programme, I decided to join the MRK party with a small position.  This book is like bed-time stories for traders!

If the market turns, I will need to react quickly with aggressive SPY put buying.

Tomorrow will be a crazy day with BOJ, SNB, BOE MPC Meeting Minutes, Bernanke, FOMC Minutes, Existing Home Sales, and HSBC Flash Manufacturing PMI.  If data from China surprises to the upside, the party might really be only getting started - until Bernanke says the T word or maybe even the R word somewhere down the line.  

And now, even I am one of the market beneficiaries, in a small but meaningful way:


+3.03% SBA
-1.16% Roth IRA

+0.34% DJIA
+0.16% Nasdaq
+0.17% S&P 

+0.71% FTSE (Hey GOLs!)
+0.09% Eurofirst
+0.13% Nikkei
+0.22% Shanghai
-0.56% SENSEX
-0.54% Hang Seng

-0.85% WTI
-1.11% Brent
-0.44% Gold
-0.66% Copper
-1.69% Corn

-0.66% GBP/USD
+0.46% EUR/JPY
-0.86% EUR/GBP

+0.12% DJT
+2.84% VIX

-1.07% 10-Year US Treasury Notes


P.S. NBG, one of my winners last week, dropped over 33% yesterday and over 10% today...  Thank the Lord I took profits whilst I could!