The Underground Trader: Update on Burger King and Tomorrow's Almanac Prediction
September 2, 2010
The Underground Trader
We wish to introduce a new periodic feature to TSP Flash Alerts: The Underground Trader. These posts are authored by a long-time friend and colleague who specializes in trading futures and options. The Underground Trader is a very close watcher of the indices and is a market junkie who cruises message boards, trading groups, news feeds and opinion sites for any edge he can get. Do not bet the ranch on any of his comments but they are usually interesting and definitely food for thought.
From The Underground Trader:
Periodically I check out the "Stock Trader's Almanac" for historical data points and it is surprising how often the trends they cite come to pass. Unfortunately I failed to do so earlier this week. If so, I would have read, "1st trading day of September S&P up 11 of last 14 years." For tomorrow, in case you are interested, "Major market instability leading into Labor Day; lately triple digit Dow moves have become commonplace." With the jobs report due out it will be no surprise if this prediction comes to pass.
Burger King - Last 5 Years
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Burger King - Intraday
Burger King - Last 12 Months
Disclosure - Mr. Moenning owns positions in securities mentioned: none
Note: Observations by the Underground Trader should not be construed as trade recommendations, but rather are reports on marketplace activity and his view on the subject.
