Frank Palmieri's Daily Ramblings

I believe this will be the move downward that we've been waiting for. The final high volatility, *capitulation* as Atilla Demiray on xtrends calls it.

For it I've loaded up on puts, Calls on the inverse ETFs, a few straddles, and some straight up shorts on the asset.

VIX bounced directly off the bottom of its channel and is heading on its way up. We're going to need to see a spike just like the november lows before I'll be convinced.

Everyone should watch these videos - Ben Bernanke on CBS' 60 Minutes (Part 1&2)

: - O!!

The new E-coupe is too sexy... Must have...now...

Well, that or a C6 Vette w/ a Manual Transmission.

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Interviewing with IPS Worldwide on thursday, March 17th. Really excited. They're a 3PL based out of Ft. Meyers Florida. It's not a finance position, but I really do enjoy supply chain mgmt so I'm still happy to have the chance to interview. I think I'd take the job if I was offered one.

Need to study excel summore...and study for my classes a little more too.

CNBC has become a cesspool for self-proclaimed MOTU's to bicker endlessly. Maybe it's always been that way, but the economic downturn has brought out the worst in these people.

We have people espousing the treasury view, that idiot Rick Santelli screaming about helping your fellow man, and a whole host of other ridiculous ideas that only idiots jaded by their socio-economic status could come up with.

People say we should stop demonizing the rich, but they make it awful hard not to.

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BTW: Is the bounce coming? I hope so. I'm buying into this one (BGU). So far I'm up around 62% in just over a month, which means I've netted about 40% so far.

Watching Jim Cramer is like pulling teeth... I can't stand it...I just don't understand why anyone would listen to him.

Anyway, I digress...

I've switched to the S&P500 as my primary index indicator. The DJI doesn't have any real support levels in the 6k level. Either way, I'm short term bullish (<1 week) as the price seems to have hit the bottom of the channel. Today there was fairly heavy volume we didn't have much of a move. We event had a bit of a bullish rally mid-way through the day. The bulls are starting to push back.

When comparing SPX to VIX, one can see the reduction in volatility. It seems as if the bottoming process is finally starting. We're seeing a reduction in volatility, and prices are at 12 year historical lows. The bad news seems to have been priced into the market.

Interestingly enough, based on fundementals, Econbrowser had a post recently showing that stock prices are right around their fundemental levels right now.

So, short term, I'm a buyer, medium term, I believe this is a trading range market, and long term, I'm still very bullish. It's going to take many years to get back to where we were previously, but this is a great buying market right now.