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GM’s bust, 2009 mkt in-the-black: Friday Shout-out!

What’s shaking for you this week, traders? Another momentous week for a supposedly sleepy month (historically) in the markets… Pundits continue to puzzle out the implications of GM’s bankruptcy, while Ford surges ahead – as the automaker that actually could? Time will tell.

Meanwhile, you gotta perk up a little at the news that the Dow erased all its 2009 losses, so we’re actually back in the black again! (Knock on wood, of course.)

New heroes continue surging forward on TradeKing’s Leaderboard. This week, my shout-out goes to mrwill09, naplesdental, deckster and Cowboys #1. Nice work!

Lots of sharp coaching going on lately between Trader Network members, which is always nice to observe. For example, Danny.myer has been keeping himself honest with a trader’s blog – lots of useful discussion on his latest post.

Meanwhile, Wiggy got flattened with a volatility crunch – check out how fellow traders helped W. figure out what happened. (And Wiggy: take a read through Brian Overby’s series explaining volatility crunch or All-Star commentator Mark Wolfinger’s recent post Stock goes up…option does zip? Both should give you some solid insights.)

That’s it from me, everyone. Have an excellent weekend!


[image: Just Like A Star by CarbonNYC on flickr]
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Posted by bigdog on 06/05/09 at 09:49 AM

Tag It | 1 user tagged it: TradeKing, F, Dow, Citi, Citigroup

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Pauly B

Member since: Apr 08

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Pauly B
I find the most fascinating trade this week was Apple.  What a moon shot.  Even when the market was going down Apple was screaming.  People just can't get enough of  this stock.  I am wondering if their up coming earnings will be able to support this type of move?

Interesting all the TV talking heads saying "big money is looking for the pull back and they will be back in" or "Some institutions are holding their nose and buying reluctantly as they know there is going to be a  correction here."

In any event I am just following the trend and keeping my stops tight.
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corbinb2

Member since: Nov 07

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corbinb2
There will be a correction, but it will be brief and quite possibly last less than one sessions, which may or not include today.

Watch your short term 'short' plays for exit opps as it may not last long. tight stops would also be a good idea, unless you are taking a longer view.
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bigdog

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Seems like "tight stops" is the moral of the story so far - best of luck and hang on tight!