Bid Size

AMZN shoot up but with bid size mainly 100, 200. Well, does that tell us something.

AMZN vs AAPL

This is the 45th day since the rally started. 49th will be the magic number.

Was shorting AMZN but it’s price has been outperforming the market since Citi upgraded it to “Buy”. Trading volume is below average and I’m holding it out. There seems to be a great deal of manipulation of the stock.

AAPL at $124 is trading at a P/E around 24. AMZN at $81 is trading at a P/E over 55. What gives? I don’t believe Kindle will be a more profitable product than iPod. And I don’t see Amazon download will outperform iTune, particularly the variable pricing recently adopted by both company will squeeze Amazon’s margin while improving iTune’s. Will the potential increase in market share as a result of price reduction offset the deteriorating margin?

AAPL is bound to fall substantially.

Ending Balance: €175,027

£ was Costly

Lost half of my a/c shorting £. Lesson learned, I hope.

Going into reporting season shorting Amazon.

Ending Balance: €219,241

Inexcusable

DI was distracting me today. Inexcusable mistakes. Filled out the order incorrectly. Geez!

Ending Balance: €408,111

Another Wild Day

300 pts range, another scary day!

Didn't do much today. Still holding long: BAC, C and EMC.

DJIA opened stronger than anyone would have expected but took a turn about 1:00pm EST. It dived from 7800 to 7550 in 2 hours and almost had me sucked in. Glad I waited while the bull and bear were fighting it out around 7580. DJIA shot right back up at 3:00pm EST to close at 7750.

Volatility will likely remain high in days to come. Expecting a positive opening tomorrow morning but  jobless claims and 4th quarter GDP (both due out at 12:30pm GMT) may turn it around.

Looking for opportunity to short Amazon (AMZN), Netflix (NLFX), Barnes & Noble (BKS), Palm (PALM).

Ending Balance: €369,964

Who Want $ When 1 Trillion Is Being Printed

The late rally after Bernanke decided to "print" hurt. Had shorted BK and decided to hold onto the loss overnight. €44,000 was a substantial position.

Would have been a miserable morning with such a large loss position. There wasn't much happening in FSTE and decided to switch my long GBP/EUR position to long GBP/USD at 1.4348  about 11:20am. It proved to be one lucky switch and almost covered my entire loss in BK in merely 2 hours. The dollar simply dived to 1.4550 after the switch.

Took my loss €27,200 in BK immediately after the opening bell when the share priced dipped despite a higher DJIA opening (was thinking to hold it until 2:30pm when the jobless claim may push the index down a bit more but I was scared).

I think I'm done today. Already have had too much.

Ending Balance: €336,420