stockpitcher.com » State of Market http://stockpitcher.com Honest Market Insight Sun, 06 Sep 2009 05:35:51 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 The State of the Market http://stockpitcher.com/the-state-of-the-market/ http://stockpitcher.com/the-state-of-the-market/#comments Wed, 27 Feb 2008 21:58:35 +0000 Stock Pitcher http://stockpitcher.com/the-state-of-the-market/ I  haven’t written in a while but I’m hard at work with many thing at this time but I’ve been driving toward perfecting my trading systems so I’ve been busy and not following up with writing.  But I decided to start a new blog call Mr Bull or www.misterbull.com in a few weeks and drop this one slowly but until then I’ll still be writing.

I’m currently sitting on Nymex, NMX pending the merger final announcements by March 15th.  Currently it sits at $105 as a price but it seems that the final price will be about $120 (pending no more Department of Justice letters suggesting the whole business model is a monopoly – ridiculous by the way).

I’m hedging through buying putts in a few positions over the last couple months – mainly banks, financials and commercial real estate.  But I’m feeling that the financial short is dying a slow death.  So I may need to find other things to hedge with.

But as for the market, it failed a test today as it should have broken it’s last minor highs but all of them failed today.  I guess they can try again tomorrow but it looks like a horrible chart as it seems to suggest a minute of pause before the storm for the rest of the week into important announcement news about the economy next week, namely the jobs report.

Hold on to your hats folks.

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