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The unofficial start of Summer happens for traders at 4:00pm today (that is junior traders). You have all heard the sell in May and go way stuff so I will not bore you with that but here are the Top 10 other reasons to start the long weekend early.
10. Trading volume is pathetic to begin with and worse after 12:00.
9. You can get to $COST before they run out of Hamburger and Hotdog buns. Pick up a flag while you are there.
8. The $SPY, $IWM, $QQQ and $DIA are all moving sideways and have been since early April. You think that is going to change the day before a long weekend?
7. After all the partying you did last weekend leading up to the now delayed Rapture you could use the rest.
6. You can place electronic limit and stop loss/limit orders now, its 2011.
5. Celebrate the 70th Anniversary of the sinking of the Bismarck.
4. The only stock over $1 and with more than 100,000 share trading volume that is reporting earnings is Mentor Graphics (ticker:$MENT). Nice chart but see #5 above. Here are the levels so you can place orders now. Over 15 it can run to resistance at 16 or 16.50 higher. Under 14 it is a good short with support at 12 to 12.50.
3. The Bond Market is ‘Officially’ calling it a half day closing at 2:00pm. What does that even mean for a market that trades via the phone or IM?
2. If you are going in only to buy $LNKD puts when you see the current 70-80% volatility rise to over 100% on demand you won’t pull the trigger anyway.
1. Admit it you have been have been in vacation mode since Wednesday and just reading this to see if there was one idea you have not tried on your boss already.
Enjoy your Holiday but remember why we celebrate it. Find a veteran, shake their hand and say Thank you!
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