Friday, November 14, 2008
8:30am Earnings Before the Open: ANF, A, GSI, HEW, JCP, SPH.
8:30am Fed Chairman Bernanke speaks at ECB conference in Frankfurt.
8:30am October Import Price Index (last m/m -3%, y/y 14.5%), October Advanced Retail Sales (last -1.2%, ex auto -0.6%)
10:00am Preliminary Nov U. of Michigan Confidence (last 57.6), July Business Inventories (last 0.3%)
12:30pm Fed’s Pianalto speaks in Cleveland.
4:00pm Earnings After the Close: GOL.
If we break the daily VWAP (890), I think we close near the lows of the day. W%R is oversold, and I expect to stay under the -80 mark till we close.
I could not handle the pressure. Long week. got profits. Josh – good call above, but the lack of buyers ran me off. I believe the charts had it set up to run and the lack of buyers could not pull it thru. We are technically still in the bull pennant. We are back into the formation I first noted this AM of a decending triangle between the top of my blue channel and 866 support. That will play out soon. That was a good fakeout move out of the blue channel. I’ll live to fight another day. I have good cash in pocket. I can now afford cocktails at the UGA AU game this weekend. I’ll post updated photo before monday.
Ok I’m done , since I ahve under 25k in the market I’m hamstrung by the retarded day trader rule. I can’t time these markets without being able to stay nimble and I can’t do that while getting stuck in positions at least once a week to avoid the restriction.
Emini Futures….more risk, more reward, no capital requirements
I’ve explored those but my broker doesn’t do futures and I don’t fully understand how futures work or where I would go to trade them.
I’ve been thinking about getting into futures. What broker do you use to trade them?
Open E Cry
VIX tested support and is headed north. Nothing to stop it for a little bit. I can’t believe I turned bullish and sold my SDS at 3:00. Darn.
All,
A quick opinion poll please:
Would you dare go into this G20 meeting long or short?
I can’t tell which way is up and which way is down right now so I am neither. Typically I think any government intervention has been met with maybe a small rally and then big sell off but I am not taking a chance
Neither – I think it will kill EEV.
C is rallying into the close on good volume
Maybe this latest downturn was just a 61.8% correction on the straight move up during the afternoon. Still heads up from here.
Never mind. Wrong again.
Well im 90% cash, except for a Longshot SRS @120 Nov put x 6 at 2.00
Updated photo of my chart.
http://social.stocktock.com/photo/shankys-chart
Everyone have great weekend!
Breaking lower trendline of intraday channel. Not good.
Close the market early close!! hahahah
Wow, fall off cliff
Kenny charts state this could b 3 5 (3) wave beginning. Black Monday?
Oh boy, I thought the hourly was not still giving me a signal , no effing wonder.
Somebody squarshed that little green worm and it is oozing down my screen.
Good move – dumping SSO
Bad move – dumping SDS
The dump at the close is not good. I am closing some of my SSO positions
Wow – exactly to the lows. Impressive.
866.
Man..nailed this thing to the dot! Sorry…from that bulltrap comment. Closed on the lows.
We took out the 2 day VWAP too on the close that held throught the day. Not looking good for Monday.
Good call. I couldn’t get out of SSO positions.
Im holding mine man. I’m going against the curve on this one and just bought more after hours. They are just giving away. U might even get a cookie with every share.
Where did VIX close? SPY is being dumped even after the close.
65.88 up 10.11%
VIX 63.98
Anybody have any ideas about the 343K 12/08 call position at the 35 strike in the Qs? Open interest was at 41k. Could this be someone purchasing against a huge short position taken in the Qs?
You guys think that Tony C’s take on a short term rally is still valid?
i went long at the close so im down after hours. but a very tiny position that is all im willing to put on the line until i see more. however, i made the perfect call today. short the close yesterday… go long at 873… on the up swing. get out at the double top. go long at the close today. .. but that sell off was too scary so i only put what ive made on the line… im thinking at best i can lose 10% on it… its just a psychological hunch like the pattern today. trying to get in the market makers heads… will see if i continue to be correct on monday. looking for a gap up. and get short somewhere above todays top…. we could very well sell off on monday on buy the rumour sell the news… blah blah. however, have the market makers already played that game once too many? im thinking they will gap it up and anyone who sold late today will come jumping back in. they will try to push this higher before crushing any longs. this is beyond charting… im thinking like a market maker and how they can get the best price. however, im open to anything as it seems we are walking quite the random road these days. only time will tell. just preserve capital so you can jump when the time is right. tight tight stops. good luck to everyone next week.
Surage made some good calls today.
good work.