I can sum up today with one word — UGH!!! Comcast did it to me again. I spent the first 90 minutes of the session trying to get my cable modem to stay connected. I’m starting to feel like this is a vast conspiracy. The last time I had connectivity issues was a day with a nice trend just like today. The difference was I only missed one entry that day, today I missed everything. If only I could get DSL at my house… At least somebody had a great day today — congrats Ugly.
So the charts are below. It was clearly a great day for the bulls and I can see why as I read comments around the net — so many people are in disbelief about this rally and trying to short it. A typical comment is “Why is this market up again?!?!?!?”… Those shorts are just adding fuel to the fire as they’re forced to cover their positions. I caught Cramer for a couple of minutes this evening and he was saying that the public is joining in the rally now. I guess all the headlines about new highs on the Dow were good for something. Looks like a lot of pain ahead for the bears and make no mistake about it, there are plenty of bears out there. Nasdaq short interest was at a record high last month. Ouch!
Nasdaq and Russell short-term trends are now “up”
| Trend | Nasdaq | S&P 500 | Russell 2000 |
| Primary | Lat | Up | Lat |
| Intermediate | Up | Up | Up |
| Short-term | Up | Up(+) | Up(+) |
(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
Lat Indicates a Lateral trend
Sorry to hear about your problems with your cable. If you have verizon, they have a new FIBEROPTIC data service.
Hey Michael,
Sorry to hear about your cable problems. I know how that hurts especially on a day like today. I had major cable problems back in May and was extremely distraught by the lackadaisical attitude of the cable guys. Hope your problems are easier to fix than mine were.
Eek, sorry to hear about your connectivity problems. I’ve had this pipe dream of trading on a laptop in a coffee shop via a cellphone modem connection. (heh, right…)
Coincidently, engadget had an article today on setting up a cellphone data feed with verizon, http://www.engadget.com/2006/10/03/how-to-use-your-ev-do-pocket-pc-phone-for-internet-access/
There’s decent bandwidth off the pipe, but it’s a tad laggy. TMobile and Cingular also has similar features with their EDGE networks, lower bandwidth tho. These may be possible backups for when your cable modem decide to relax for a while. Note that I’ve not setup such connections yet, and I’m not sure if all ports are open.
On a side note, I did my first dummy trades today after reading your helpful posts and that of other bloggers. HGSI and SBUX, 2.88R total. Not so bad of a day for me either.
I will put my typical plug in for oil and other ocmmodities. I think it is no accident that these stocks had a big rebound yesterday. If the bulls are now heavily betting on a healthy economy, then *eventually* folks “have to” step up and buy these now “cheap” fuels of robust economic activity…
Might want to look into a business class cable line. They aren’t that much more expensive and they gaurantee a good uptime.
Hey, Mike. I’m not a trader for a living. I manage IT projects. One thing I know is that you have to have a backup plan. Keep a second means of getting to your data. One solution might be to have a Laptop ready that you can grab and take to starbucks to get connected, or a dial-up account even.
You would most likely not have access to everything you normally use, but with planning you might be able to at least maintain critical functionality.
No matter how good your cable connection eventually gets, have some redundancy if you can.
Even a sub-optimal
Hmm… perhaps you’ve discovered a new trend indicator
Seriously though, you should be able to get Verizon broadband wireless (only 400-700 KBaud) for ~$60/month in the ATL area.
Which one cost more: a backup connection or a lost day ?
You guys are right, I hadn’t even considerd using broadband wireless. All I’ve been thinking about was DSL, which isn’t available in my ‘hood. I’ll have to look into that. Hopefully I can use it for both of my PCs at the same time.