Mr. Sensitive

July 9, 2010

FSX Friday Update

Filed under: FSX — lbej @ 17:56
Tags:

Broad-based 7.4% relief rally for the Family Stock Index this holiday-shortened week, and for the U.S. markets overall (S&P 500 up 5.4%).  Now is the part where I punch this gift horse in the face.  First, this week’s gains didn’t make up the losses from last week: this Friday’s 960.43 close for the FSX is still solidly below the 975.86 we printed on June 25.  Second, everybody is on vacation.  Everybody.  August will be even lighter on volume, but I know bankers, and if they get a day off they take a week.  In defense of Wall Street, you can get smacked around on a trade for no reason other than you can’t find someone to take the other side of it, and if you’re trying to trade in size (you are) it’s a bigger gamble than usual.  Maybe you like that and maybe you don’t, and if you have actual work to do holiday weeks can be really productive.  But it’s a vicious cycle from a trading standpoint: you didn’t trade because you figured you couldn’t, and then you can’t because you didn’t.  The point is that an observer should be careful drawing conclusions about market sentiment when half the folks who are usually moving said market are out of the office.  Lots to talk about for the FSX even with only four days in play.

Advancers

  • Lucas (LEI) +23% (Another twenty percent swing.  Can excitement be boring?)
  • Katie (CATY) +15% (Katie definitely gapped upward from a diameter standpoint this week.  She could very well be capturing a moon soon, and that’s got to be worth something.)
  • Lisa (KID) +15 (Could be a stealth play on SWVa if the Lucas trade gets too crowded.)
  • Charlotte (BOOT) +12.3% and ZERO +7.5% (Who’s the ball and who’s the chain?  More importantly, does China need more balls or more chains?  That’s really all the market cares about anymore.)
  • LEE +9%  (I can walk now.  Is that as valuable as generating a moon-ensnaring gravitational field?  Clearly not.)
  • Justin (WOLF) +1%  (Actually 4th from the bottom in relative performance, this is notable because Justin was down on the week before this afternoon.  Then he decided not to drive to Mississippi next week and the market immediately applauded.  If we learned nothing from my mother, we learned that Mississippi is always the wrong answer.)

Decliners

  • Zondro (ZN) -3.2% (Only Zondro finished lower on the week.  Icarus keeps biting him in the neck, so there’s that.)

The fine print:

 

Name 7/9/10 Change
Charlotte $18.15 $0.47
Dustin $37.33 $1.50
Icarus $9.76 $1.05
Jenny $14.57 $1.99
Justin $1.93 $0.21
Katie $11.40 $1.15
Lee $2.51 $0.03
Lisa $8.00 $1.61
Lucas $2.52 $2.57
Lulu $38.89 $0.92
Machis $8.51 $0.55
Marcus $9.03 $2.41
Mario $19.47 $1.55
Marisa $18.54 $0.57
Nicole B. $15.84 $0.48
Nicole L. $54.89 $0.06
Reagan $23.22 $0.02
Wilson $5.77 $0.06
Zero $0.43 $0.03
Zondro $4.84 -$0.16
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