Facebook IPO

is going to be filed today. There was a trade that I could've made sometime back on similar social networking players. There's LNKD (Linked In). I would've brought some near-term calls in anticipation and sell on news when it broke out in WSJ on Monday. Now it's too late. There's too much hype...stay away from this for atleast a year and once some kind of trading patterns are formed, we'll play it then - my 2 cents :)

idling by with respect to trading

Market seems to be running on all cylinders this new year. However, I'm just not active and lagging the market. Well the year is just upon us and long way to go.
I'll be updating the current research page. check it out and use it for your own trading purpose.

will be taking a break till middle of 2012

Since we're going to be busy preparing for Soumya's JIT, Nationals and Pan Am tournaments till July 22, I'll be taking a break and won't be active unless I see something very compelling. Happy new year!

no action...

- will continue to be on sidelines

- did some chart reading, etc over the weekend and made notes in the "Current Research". check it out in the "Pages" section to the right if interested.

- unless I see something very compelling, I'm not going to do much for the rest of the year.

update

will wait on the sidelines till many factors lineup...I don't see any compelling reason to trade technically(looking at charts). Markets getting spooked [see the VIX, it's ratios of puts to calls; which measures volatility, is trending up from yesterday] over tomorrow's meeting in Europe...

Monday, the 5th(Dec)

going to stand to the sidelines...Feeling very tempted to make some trades as the mkt is trending higher and don't want to miss santa rally!

However, may take small positions in buying puts in AMZN/CRM if they cross 210/125 respectively. Will definitely buy calls in (ISRG/CMG??) others to balance out these position when taken. will see...stay tuned :)

some weekend reading and observations

AAPL - resistance at 410 and support in the 365-375 range.
SBUX - big article in Fortune magazine; @44 - closer to 52-wk high of 44.7; short-term support at 42 and good support at 41/39;
ISRG - @434; window to the upside at 395-410 on 3*avg vol; recently tested the window when it dropped to 410 and rebounded to its current level;looks like need some digestion of the recent run up.
AMZN - @196; 52 wk high of 247; big window to the downside[225-200] on 4 times volume. so this is no going to go any higher any time soon...rather it'll trend down! has good support around this 185 level though, so can short this one around 205, with a stop loss cover of 220-225 range. good for a pair trade.
CMG - @330; is in a nice uptrend; altho having difficulty in taking out the 345 price level having failed to cross that in previous 3 occasions. so till it crosses that price action, tough to get in...altho should say when it does will run as consolidating for the past 5 mo's in this 300-330 range.
CRM - @120 and is in a downtrend w/ a P/E of 4700! [compare that to the AAPL p/e of around 14]; downside window of 125-120 w/ huge congestion around the 130 level. so can be shorted around current level with stop-loss around 130 level.
MCD - @96; good support at 90 and 86-90 band;recent pullback halted at 92; window at 90-91;
MA - @379; solid uptrend; about a third of the world's credit card bear mastercard's brand; recently gave a clear signal (hammer) at 300. Should wait for a signal like this!
BIDU - in a downtrend.