11:46am
Market is gaining a little bit of momentum to the down side. Again this looks a little like a bull flag. But I do have a longer term bearish view, as the bears are just waiting to pile in once this whole stimulus talk is over.
11:17am
There’s a double top formation at 87.60, which is suppose to be incredibly strong, cuz it goes back to a huge reversal a week ago. Yet the bears are not brining this market down the way they are suppose to. This could mean we are breaking into new highs very soon.
this market is moving up effortlessly. … just no sellers. hardly any volume buying needed to push up.
@875 will add puts. AAPL ABX UYG.
what kind on UYG? March or June?
Mar 3.00 but din’t pull the trigger yet
$400 bucks is cheap!
if I had a nickel for every “bottom” or “priced in” or “turning the corner” Ive heard today on the tube, I wouldnt have to trade.
Shut if off. They are part of the con.
if the captain says we’re heading down… you listen to the captain.
i also think lower…i’ve got puts starting from 865 up to 872. i’m fine with a move to 877 if it happens.
preparing for battle…
Who is the captain?
If I had a nickel for every “This crashes Monday” or “CRACK” or “bulltard” or “It will head down soon” or “PPT” or “Watch out below” or “Credit Markets are predicting a crash” or, “being long here is suicide” I see on this board, I too would not need to trade. Hell, just give me a quarter for every misogynistic comment and I would still retire.
Haven’t seen “bulltard” used at all. Richard-Permabear did coin “bullshitish” today though.
jmgadrkfpn,
best laugh ive had today. we are not going to crack , crash during the day anywho. if we do poop or craptard the bulltards it will be when we cant profit from it. overbullcrappin night.
Great arguments on both sides.
sell at 871… buy at break of 860 — is it going to be that easy this week?
871 seems like a good call Richard. what a piss poor volume day. everyones just waiting for *it*
if you are short piss poor volume days will test your spirit
bcs they can whip up a rally outta nowhere for little cost.
bailed on my SPX hedge from 845… 863.50 and 871.
keeping my 3x Russel hedge in place. my postions are pigs and dont know how to rally more than 6%.
SPX paints a doji right on the 50dma with Hourly overbought and rolling over, – so say good night Gracie.
I did:
http://social.stocktock.com/profiles/blogs/serious-doubts-about-900-from
Anyone holding any positions overnight? If so what? Announcement is coming out tomorrow you think the market is going down as it usually does on these bailout announcements?
the market will rally on the announcement but it will be pitiful. we wont crash either. this is what im thinking. will just rally a bit and then level back. 870ish is the market’s happy spot for now.
truly, its anyone’s guess. but if you are hoping for an all out crash on the news this time, the market will probably disappoint you. we been there and done that .. .probably see the announcement and then push up to trigger all the stops placed and then pause and hold some slightly lower level. the bulls and bears will be scratching thier heads.
this is my prediction, but im positioned for a fall.
not much… have a little fas, and bought some BAC puts
not real clear on which way this market is going…
80% short with sds. Good luck to all the shorts!
100% FAZ. The steepest part of the plunge from 940 to the mid-600′s is probably getting under way, and I want the hottest vehicle. Even if I guessed wrong by a bit, I will still collect big time.
Added CVX puts. Leaving the rest for another day.
I must be crazy to be holding my FAZ overnight. So, not my usual. Anyone else?
yep, you are crazy! we are all crazy being involved in this manipulated mess.
ok, then…I guess I will buy more
dumped half of it. Oh well.
I’m all in cash. I give up.
I am all in FAZ, bought on dips just above 40 before, and at $39.30ish today. I think the bloodbath started about 1:15pm EST today.
financials setting up fora drop into the close
Into the toilet, you mean. XLF is probably headed for about $6.
Ahhh,,,,the ‘good old days’…
qid
Within .27 or so of the Aug low. On the down-spike day. lol.
Me best timing,,,ever.
8/14/2008 2:49 PMOrder FilledYou have bought share(s) of ULTRASHORT QQQ PROSHARES. @38.64
actually that might have been within .27 of the LOD,,, I think it went a buck or so lower, b4 all hell broke loose.
I loaded up totally on FAZ at a bit above $39. not quite as close to the bottom as your buy, but it will outperform it. I am sending vibes for at least a 6-bagger.
This is what Kenny posted 14 minutes ago on SKF board:
gee, not only did we have a very similar pattern as the previous rally. which on my SPY short term trendlines chart topped (so far) where a put the fib using the previous rally as a template, but it looks like we have an expanding wedge off the top just like last time too.
if it follows, the market will gap down tomorrow.
we’ll see
can’t wait for valentine’s day just so they can stop the pajamagram and vermont teddy bear commericals
I agree w/you RB. But it is WHAT the ‘moneywhores’ NEED to ‘survive’. roflmao. And oh, the wars they cause to push for their ‘bank’.
It’s the Grand Illusion.
http://www.youtube.com/watch?v=ZW8TlrYhBxk
with Lyrics too!
I got my wife the teddy bear.
And I got my girlfriend the pagamagram.
Just kidding Mrs. Annoyed!
LOL
did you gift her with a beargram?
oh gawd, I hate that commercial.
way before my time
Having been in broadcasting in a past life, I believe they play those whenever they have open slots to fill. They’ve had a LOT of open slots. They need a big crash or huge rally to gain back ratings and ad revs. No wonder GE is so sucky.
watched a program on the Passionate Eye last night. a BBC report on a Japanese Couple and they followed thier lives. very very very very sad to see. Japan was once a socialist state that was then overrun by Capitalism. the stock market was once like 25,000 points and is now struggling to hold 8,000. Capitalism there was simply replaced by Corporatism. it appears this has now occured in the USA.
Corporatism is the Government being overrun by special interests. Special interests, namely Corporations. You know them, the ones too big too fail.
In Japan this has led to unahappiness, a monstrous suicide rate, loss of hope for prosperity and a large large population of working poor.
the couple featured lived in a Jail like Apartment with just a Kitchen, 80sq ft bedroom and no windows. on that happy note!
Good luck trading tomorrow.
Yep, amazingly the Nikkei actually hit 40,000 in 1990 and is now battling with the Dow to keep the 8,000 level.
Richard, they were under rule of an EMPEROR, up to 1940′s, and those silly sob’s BOWED to a MAN, tho they thought he was their (GOD).; every wish was his command. THAT sob started WWII. With the people following him. Why?? Wealth accumulation by barbarism?? lol. Uhhh,,yeah.
But to say they “were overrun by Capitalism” is inaccurate. Their ‘capitalism’ was indeed installed by the USA. But their NEW GOVERNMENT was involved in all the processes. “Corporatism” engineered by GOVERNMENT. Indeed.
Perhaps as you say, similar to what the idiot politicians are doing here, all under the guise of THESE CROOKS,, “they” are the (not) Federal Reserve.
Do we KNOW the dreams of the NWO? China loses its communism,,,ya think? Guess another plot. Israel to control ALL of the arabs? Hmmm….
I was just sayin’… I don’t know.
http://www.youtube.com/watch?v=zE2VOrib2gY&feature=related
at 9:00 minutes, JFK explains how he will be assassinated,,,tho he didn’t know it at the time.
THIS is the question civilization needs to find an answer too. To have, or not have ‘central banking system’. Easy to find out how much trouble the ‘Central Bankers’ have caused, but WHY they caused it!! The ‘formation of Israel’?? Is that why??
Truly ‘anti-religious’, is what I have judged.
who wrote the book. who? which book? it doesn’t matter…. god is love. nothing else. eternity has no time.
teach your children well.
smoke it if you got it…
i will obey
all i know is that im thinking i should put my last $130,000 in savings into this market and marry it up with the positions i have because it feels like i will need a million dollars just to survive.
anyone else thinking this?
Until the next leg up/down I am staying away from trading “real” money.
since we hit 818 in futures on Thursday we have managed to make higher lows and higher highs but this last push up was pretty weak. you can see this as “doing only as much as we have to do”
im somewhat losing my bullishness after today. unloaded some of my hedge. most of my short positions have already crapped thier rallies.
900 seems so far far away.
http://social.stocktock.com/profiles/blogs/serious-doubts-about-900-from
Those rallies are better known as bear flags / pennants / upwedges. the 50% fib between 804 and 944 is 874, with a DOUBLE TOP at 878, where S&P has been bashing its brains out against resistance for a few days now. the 50dMA is draped right thru there, starting to roll over, and the upper BB is waiting to keep any moves from getting closer to 900 than they already were.
I think the bloodbath started about 1:15pm EST when BGZ:FAZ peaked, matching peaks that started the last two big moves in FAZ around New yea’s day and Jan 29ish. Or you can run an intraday chart of SPY:XLF — see next box.
http://stockcharts.com/h-sc/ui?s=SPY:XLF
Even as SPY plunges, XLF will tank worse. As usual after previous swoons, XLF has been outperforming SPY for a while, but that party is probably coming to an end. SPY and $SPX will probably fall nearly 25% from here, but XLF will fall perhaps 25% more, maybe to something like 6.
Bradely turndate was today
key in on this.
“sell the news”
the market knows this trick as they play it. everyone is expecting it.
if this market moves lower on the news…. im covering any 3x short i have. because im expecting if we see a quick sell the news… it will be a nasty move up from there. chop chop chop you up into little bits.
any rally will begin with a rip but settle down pretty quickly as this market is wimpy.
this is how im playing the bailout / bad bank / or whatever the hell they are going to throw
out there as the saviour of all saviours.
Most investors now know that nobody in government in either party has a clue, much less a savior of all saviors, nor does anyone else who is likely to be able to influence policy. The mere fact that the torture keeps dragging out proves that, but we already knew it when all the gazillions printed and pumped in previously failed to fix anything. There may not even be a brief rally before people start reading what comes out and see that it too hasn’t a prayer of working.
just a quick note – the Fed hasn’t been printing money with it’s quantitative easing – it has been buying assets after taking out loans – check the two Fed articles out here:
http://woodwardhall.wordpress.com/