I received a lot of nice emails about my weepy post regarding George Carlin's passing today. I appreciate those. Sometimes people would rather share thoughts privately than publicly, and I completely understand that.
Please be reminded that I'm traveling on Tuesday, so there will be no post until after the market's closing. I'll be nervously fidgeting in the air, not even benefiting from seeing how the market opens. I'll have a brief intra-market-day layover to check on things. With the Fed announcing on Wednesday, hopefully Tuesday will be sedate.
I'm pretty excited about the prospect of IWM breaking the blue line you see below. I am getting re-enamored with the Russell as a trading instrument.
Whereas I'm sick and tired of energy. This has been a boondoggle. I think I'm just going to stay away from OIH for a good, long time. Maybe crude's oil to $500 a barrel. Who knows. I'm tired of guessing.
Just a few quick ideas to chew on tonight. CSX looks interesting; it violating its resistance somewhat, but appears to be turning back down.
RIMM, which I think reports after Wednesday's close, is just a shot-in-the-dark on my part. This is one of those "well, it's got to fall one of these days" plays that either goes to $0 or works out great.
I like R as a short, but I'm kind of bugged that the options are surprisingly thinly traded.
RJF is one of the financials that hasn't suffered as badly as its peers, but I think that could change soon. I'm shorting this one.
Here's one that got away – AutoZone (AZO). I wrote about its diamond pattern many times, but I didn't stick with it. Shame on me.
Bank of America is the biggie out here in California, and I'm just blown away by what kind of fall this is taking. It has lost about 50% of its value in the past year. Below is a ten-year, weekly chart. What a plunge!
I'm glad I gave up on my GENZ puts. I made a small profit on them, but I was noticing it was not behaving as it should, so I got out. When a pattern acts abnormally, that's a sign to move on. Doing so worked out in this case.
I don't have a position in EZU, but its progress on the H&S formation is pretty to watch.
I'll close with this video, which was from Carlin's last HBO performance. It is simply brilliant. For those who don't know any better, the language is pretty blue in some places, but this 10 minute clip is a fantastic example of Carlin's genius as a writer, performer, and comedian.
