Tuesday, April 26, 2005

Morning Market Watch

It should be obvious by now that I'm on some kind of blogging binge. I wonder when the novelty will wear off.

Anyway, it's just after 7, and I'm watching the markets with a buddy of mine... call him Spud. Let me say this right off... this guy has brass balls. Assuming you're not rich... if you're trading in positions with sizes that rival the GDP of a lesser developed country, you've got some serious nuts; or, maybe you are nuts.

So here's the situtation... Spud is long eBay. We're talking about a large position. He's sweating every tick. When you have a lot on the line everything is exagerrated, it's quite amazing. If I were working on my psychology doctorate degree, I think I'd have enough material with Spud and his latest swing trade to write my dissertation. But, let's give the guy a fair shake... at least his cost basis is sub-32. He's not the bagholder that's got eBay from nearly 60 a share.

I, too, am long eBay (at a price even better than Spud's)... but, my position is boring. However, boring is good. I don't want to think twice about heading to the bathroom to take a piss, because I'm afraid of a move in the markets. I don't want to live that way. But, to each his own.

Anyway, the April Consumer Confidence number came out about 15 minutes ago... it wasn't good. But, thus far, the market hasn't really moved too much in reaction.

Time to catch a nap before I head off to work.

No comments: