14 Comments

1. Phoevos

   Posted May 5, 2009 at 9:02 PM

   Here is a reply from Jesse’s Cafe Americain:

   The artificial reflation aka short squeeze continues. It is centered on the financial stocks and in particular the SP futures. This is a classic Bob Rubin market fix technique from the 1990′s. Don’t fix the problems paint over them.

   At times like these the stodgier Nasdaq100 performs the role of confirming moves up or down led by the SP 500. The broader indices are even more important.

   This market is being slapped around in an effort to skin the overlevered small specs, so keep your positions small or even better, cash in your pocket. The banks are having a last gasp at manipulating nearly everything

   • Robin

     Posted May 6, 2009 at 7:10 PM

     Please explain a little more about your theories about who is manipulating the market. Is it the Treasury, is it the banks, or is it something else? How do you think they are doing it?

     Thanks!

2. Freewaver

   Posted May 5, 2009 at 9:22 PM

   keep care, this market can easily go to the 200 SMA, but then the bulls will have a bigger problem, don’t bet against this strong bull dynamic until it is over.

3. ckeltner

   Posted May 5, 2009 at 10:09 PM

   You also have a crossing resist line from last years tops right above this, so both lines are pressing down on the rally.

   Go easy, my first chart and first time with Jing, tried to make Woo proud with all the fib lines

   http://content.screencast.com/users/ckeltner/folders/Jing/media/31048783-0e2a-47e8-91c2-82a9505c41a3/2009-05-05_2204.png

4. 3min (perma-bull with bear feet)

   Posted May 5, 2009 at 10:28 PM

   We are going down. Even the bulls are getting out for a bit.

5. Daniel

   Posted May 5, 2009 at 11:17 PM

   Ok, Sheetfaced, I hope you can read this post again. Trust me, Faz is going to $5.00 very soon. For sure, if you hold to all your share, can you take that pain, before it go back up to $15.00. Here is the thought, try to look at other stock. I have couple for you to check out. Again, do go all in with your money. Just to test and trial. Keep that in mind, the main point is loose less and when you are right you win a lot. Ok, if you have a margin account for play money. Short BWLD, at around $39 ish. The stop lost on $45.00, that is 52 week high. Earnings came out last week. So you could just stay with it for a while for your short. If you want quick cash cover on $36.00. If it broke 36, it is going to at least 31. If you don’t have margin account and have IRA. There is one Speculated play it is “COIN” If it pulled back in the morning to about $1.65 buy it, and make sure it is pull back on low volume. I think this stock can go to at least 2.50, that is almost 40%. Again, do use all your money, just try to get your winning feeling back, and also try not to hold these play over night. It is very volatile, and we are also very overbought for now. Good Luck! I hope you make some money, If not 40% at least 10% will you?

   • Phoevos

     Posted May 5, 2009 at 11:20 PM

     http://www.businessinsider.com/bank-of-america-needs-a-whopping-34-billion-2009-5

     • Valerie

       Posted May 6, 2009 at 1:20 AM

       Be sure to scroll down and read the letters for this article. Two of the five are great.

   • Ray

     Posted May 6, 2009 at 12:39 AM

     Yes, FAZ will go to $5 dollars…….in 2013 it looks like now. Well. maybe….

   • sheetfaced

     Posted May 6, 2009 at 7:10 AM

     Daniel, Thanks for your informative post however I do not have a margin account. I cannot and do not know how to short stocks. I am a simple trader with a simple Ameritrade cash (whats left of it) account. I can only short by buying ETF’s. I was doing so good in the beginning of the year and then got greedy. Now I am paying the ultimate price for my selfishness.

6. Daniel

   Posted May 5, 2009 at 11:18 PM

   Sorry, I did not re-check my writing. I do mean don’t go all in with your money, sheetfaced

7. Mohan

   Posted May 6, 2009 at 5:43 AM

   Craig, looks like I am in good company. You also caught the same formidable trendline resistance I spotted yesterday, in here:
   http://www.stocktock.com/2009/05/04/new-highs-or-blow-off-top/

8. Alex

   Posted May 6, 2009 at 8:18 AM

   Thanks; the KISS principle always works for me.

9. zee

   Posted May 6, 2009 at 12:54 PM

   –HND.TO– DOWN 13% HITTING support from 3-6 monthsw
   Natuarl Gas up 6.6%, and oil booming. Not sure if it’s a good short.
   Anyone have opinions:?

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