Friday, March 13, 2009
8:30am Earnings Before the Open: CODI, NVAX, SKIL, SUI.
8:30am Feb Trade Balance (last -$39.9B), Import Price Index (last m/m -1.1%, y/y -12.5%)
9:55am March prelim Univ of Michigan confidence (last 56.3)
*Note that OPEC meets in Vienna on Sunday, March 15th.
after covering this short RUS.TO .. im back in the trade. it put in a bear flag over the last week and that’s it. ride the next leg down. if it is the same as the first leg the stock will
end up around NEGATIVE $2.00
wooey has been hiding ever since his 732 statement;
He said he was heading into work numbnuts. Post some analysis and lets see how you do.
Can somebody block this yahoo?
Amen–nothing positive to contribute!!!
I think we are consolidating here and not going down, because we will go up, maybe Monday or Tuesday. No significant drop yet. Maybe a little end of day selling into the close, but it’s not dropping yet.
OIL UPDATE
anyone see the SAILBOAT pattern for the last 1.5 hour of crude trading. does this mean its sailing higher , lower, or straight into the sunset.
Still waiting for the peeing man formation
http://i44.tinypic.com/2ed1q9d.png
Mr. VIX, please follow the red line.
nice move … thanks for the chart. so now what LOL
no one wants to confirm my head and shoulders on the SKF, ill just let the market do it for me..
HA
big end of day volume coming to cap off the weekend.
The tram is in motion
any getting some of the move in the SKF?
4th FLASH UPDATE
S&P 500 & EMINI 03:18:55 PM EST
OMNIACS,
We just traded 754.00.
We are long from the 744.75 level.
Multiple lot traders please exit 50% of your positions right here at market.
Please move your sell stops up to 745.00 else simply hop out here with a nice profit. I will keep you informed
someone post the vix chart again please..
I may add a short here at the double top.
Make sure it’s not TZA. TZA SUCKS!!!!
Stockcharts is down.
Its all part of the plot to destroy the bear
ha ha
social is “under maintenance”!?! gah!
CLOSED FAS 5 MAR C .37 Bought at .30.
Ok done. No carryovers. Have a great weekend guys/gals.
ok i made a comment earlier about being in the b leg of abc. i may rescind that now and give credit to daneric on being in a monster rising wedge that is the scope of all minor 4. if that’s the case this sucker could tank like grandma on booz early next week. short here baby
Just don’t use TZA!!!
why gbt? indicators are showing overbought off the charts just like spy
i mean iwm overbought
I’m just grumpy. Got hosed both ways on TZA and TNA this week. It’s the trader not the instrument.
haha nice, you’ll get it back
TNA was kinda sucky on the way up too earlier this week! It underperformed compared to my other longs..
beautiful fake out
clean 2 bar break of 755 and then the nice bear flag back test….points lower
and then simply rocket higher to the close creating panic
Wonder what the River Card is gonna be this weekend.
Shanky, SP filling a bunch of gaps?
About three. i got it shown on one of my charts but can’t get to ‘em. Got a new chart if it did not get destroyed showing 770 target for top of 4. I’ll post on social or the blog this weekend. SPX is getting tired.
3min,
Any thoughts on Monday market ?
banks aren’t helping much with this push up. banks have been weak compared to the market for a while today. the banks have to carry the market up, the market can’t carry the banks up.
double top, lower top – very similar to the start of 3(3) [remember saying that to s135 and he told me it didn't worry him being long w/ that - oops, but man he was good, where's he been!?]
He got in a cat fight with Uner.
Think I’m gonna swing some SDS with my EEV.
Not gonna swing 3x. Keeping powder dry for monday just in case.
Daeric says 759 should be the top of “C”
http://4.bp.blogspot.com/_TwUS3GyHKsQ/Sbm0QX7ry5I/AAAAAAAAAEk/zRuXLWzqpSw/s1600-h/5.png
Thanks
Any ideas about FAZ? How about holding it into the weekend.
Alright let’s short this market. Who’s with me!!!
I said WHO’S WITH ME!!!!
BOT…TZA!!!
atta boy, i went faz and bgz, but you do your thang
Love your enthusiasm!
5th FLASH UPDATE
S&P 500 & EMINI 03:36:25 PM EST
Traders,
counter trend trading is a bit more risky then trading the direction of the trend. Last price = 753.75
Please use this opportunity to exit your positions and cancel your stops.
Nice trade OMNIACS!
OK got SDS April calls. GL!!
short FCX . . . one heck of a rising wedge on the 60 min chart . . . almost at the tippy tip now.
Choose your instrument for mass destruction wisely for next week.
I am holding FAZ over the weekend…
Me, too. Good luck to us. And cotton, too.
Thanks and good luck to us all!
Me too.
some QID,,and Puts that are toast anyway. I asked myself ‘why am I standing in front of a train for so long?? And I heard,,,,”uhhhhh,,,I dunno. Just testing the theory….”
So far a good ‘test’. I hope to not make the same mistakes again,,,so many times.
Whoop!!!! Whoop!!
One more pop up on Monday to 770ish and then you can have at it IMVVVHO.
i’ll say your pop may happen on news, but i think we’re spent. see you guys around 600 within 7 trading days
watch the banks closely…on monday…that’ll let u know.
sell into close huh?
BOT small portions of FAZ and BGZ to hold over the weekend. Done with TZA for now.
With a side of SRS
FCX trying to fall out of the 60 min wedge as we speak . . . Monday should be fun
Wedges all over the place
gap at 29.06 …..just bought 10 fcxpg…
BAC went red
big week next week folks, good luck
In cash. Monday is an unknown.
(Gold shorts and Oil long options of course…April-June.)
All in cash
Woo, think 732 was one trading day early!!
agreed! fibs still match up nicely. still not out of the question. Will have to wait till monday to see. i’ll play with the charts more over the weekend.
Today is a pHi-Mate turn date, so I have a feeling this is either an ST or IT top. If ST, the a 2-3 day pullback would make sense here, then the C-leg up through OPEX into Mar 26, the next Phi Mate turn date. If the latter we just drop straight from here all through next week to Mar 23-26. Then Primary [1] is over.
GBT, looks like McHughes thought the turn date could have been Tues.
That’s OK. Even if was Tue, this is very low risk to reward trade. MAXPAIN is now only at 77. So you’re risking 13 points on the CASH S&P by being short here.
I can live with that.
anyone see the volume on the march 35 fcx puts…LOL..
maybe its nothin but 17,000 puts that expire in 5 tradin days?…thats crazy
This red/green look at the Dow, per week, since September 2008 gives s pretty clear view imho.
Dow Weekly Charts Point Down:
http://newsusa.myfeedportal.com/viewarticle.php?articleid=271
Interesting…thanks
Very Interesting and I respect Martin Armstrong’s work. His next turn date is April 23, 2009 and predicting 2500 gold in the coming years.
is that accurate?
Yes, I believe it is accurate. Last time the weekly charts on the Dow saw two weeks in a row green (up for that week) was April of 2008 (not intraday highs, closing numbers.) 1 Year, Weekly Dow Chart
GS reports Monday and Bernie speaking on Sunday night. If the market does not gap up on Monday morning, I will be shocked.
Actually GS reports on Tuesday.
Good weekend reading.
http://www.kc.frb.org/speechbio/hoenigPDF/Omaha.03.06.09.pdf