Daily Archives: July 29, 2010

C’est Moi!

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I've got some pretty cool news; I've just received my allocation of Chart Your Way to Profits – Second Edition, and it's ready to ship. If you'd like to buy an autographed copy, read below…… 

0729-cywtpo 

 

If you'd like me to sign a copy and ship it out to you, just sent a $60 check made out to Tim Knight to the address 555 Bryant Street #711 Palo Alto CA 94301. That's 20% off the retail price, and you get it personally autographed, which easily adds fifty to seventy-five cents of value to the book.

I've never done this before, but I'll be interested to see if any of my readers would like a copy; this is hot off the press, so get 'em while they're hot! If you use ProphetCharts, I think you'll really benefit.

GDP To Be

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Well that was a day of huge ups and downs, wasn't it? I started off down huge, went up huge, and ended the day up somewhat. Hey, I'll take it! It's a profit.

Tomorrow morning's GDP report is what everyone is waiting for; that comes out an hour before the opening bell. Until then, I don't have much to say . I've got 178 shorts and 2 ultra-shorts. I trimmed some of my larger short positions earlier today (notably XLU, RTH, and SPY) but am still about 125% committed.

One key level to break is shown here:

0729-spx

In the meantime, I suggest you take a look at the following. If you're a Star Trek Original Series fan and Monty Python fan, you'll love it. If you're neither……well……….maybe this isn't the blog for you after all…

Take the Good with the Bad

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Yesterday morning I shared some bad news about a stock that I was short – APL. Today the shoe is on the other foot. One of my shorts – ASIA (on which I had a somewhat larger position than APL, 1400 shares) lost about a quarter of its value due to its bad earnings release.

0729-asia 

I confess that in situations like this I just take the money and run; I don't want to be in a situation like AMZN presented recently in which it opened dramatically lower and spent the rest of the day climbing to a virtually unchanged position.