11:50am
Took the rest of my profits at 135.60$.
11:47am
Some profits taken at the double top 135.27$, but letting the rest run or get stopped out.
11:44am
GS LONG at 134.80$ there is a bull flag on the 10 minute candles of GS, we could see a push higher here. Stop now raised to 134.83$.
11:38am
Took 75% of the positions off with profits, letting the rest run down to 127$ or letting it get stopped out in a small profit at 127.65$.
11:27am
Short Sell AAPl at 128.20$. Stop at 128.50$
11:19am
Got stop lossed from both, looking for reentry higher, notice that the nasdaq is weak, and that we sold off from early trading, this has happened 3 days in a row..
11:11am
I’m short GS, AAPL with tight stops above 128.20 for AAPL and 134.90$ for GS.
11:01am
Things I’m looking at right now: 1 minute GS chart showing a huge H&S, with an ascending neckline at 113.40, a break of that will send the stock down to 132 at least. I’m looking at AAPL retracing to 128$ which is a 38.2% retracement of it’s last strong move lower, that level might be a great place to short, for a break of a strong support at 126.50$, a break of that will move the stock down to 125 ish.
Hey guys, here is a little prediction of what will happen in the next couple of days/weeks. We either have a move up to 935-940, or a move down to test the support the channel and eventually break. In both cases i’m suggesting that the market will break the channel support and turn over.
ok, so! I think FAZ is a no-brainer to swing. Bottom line, if the fins gap higher on Monday, than I do believe that is a top out for the fins. I will double down at that time. If no gap up, then a gap down or flat would be an exit too.
Everything is perfectlt set up…..when the late bears turn bullish…we are at the top.
I’m not bullish yet so you may want to be careful
ok, let me know when you are…or broke…whatever comes first.
I took my final licks with FAZ earlier this week and have been playing some longs for the past two days.
I was thinking that means it’s time for everybody to go short.
haha, deal
I said I would go bullish on rifin 600 retest and they wouldn’t give it to me
whoever called a short capitulation today was dead right! nice call.
the h&s on skf played out
EOD leveraged ETF rebalancing might lead to an insane drop in SRS and FAZ
Insane drop? You mean in the 10 to 20 percent range?
What was the drop on the previous leveraged ETF rebalancing?
The XLF has been outside the BB everyday most of May. Talk about a stretched rubber band.
TARP money to push up banks so that they can sell stock.
What an F’ed up system. – NO RESTRICTIONS ON USE OF TARP by banks
Double top on Rifin? Can anyone confirm?
If this holds it will be a double top on the daily for rifin
In FAZ 2K shares at 4.44
Bugger order was set for 4.43! Was close…
Yes, I think the stick poke me.
It sure feels like a bubble is about to burst. This one is so full of hot air, but they keep pumping air into it.
I closed all my position I mean ALL including long term C F and others.
Going to enjoy my weekend.
Have a great weekend guys/gals
I think that was a good choice
XLF about to bust the recent high. of 13.07
http://pragcap.com/
So whats the verdict. Rifin went a point or two higher then I would have liked but could still be counted as a double top on daily. Xlf double toped 12.07 (also a retrace level). GS was at the 140 area and set lower high?
13.07 – wishful thinking of 12.07
Whew. That was a total BS bull trap at the end. Of course, I’m only right 51% of the time.
QID calls +35%. LVS puts +8%. FAS puts -12%. Nice uptick on QID AH. Ok. Done. Martini time.
Whew is right ! Dark ale for me.
Cheers all.
Hoping for a dip down Monday then “expect” that final? wave higher 842 anyone, anyone, Buhler? Buhler?
Ahhhhh ….to see red on the board Monday pre-open.
———- 928 ——- my call for the close being so far off — grrr … great weekend !
the only long im holding is JNJ and that aint going to save me should MONDAY gap up and run
i’ll enjoy about 1.7 hours of sleep.
Richard – did you get into your SRS and FAS play ?
yes just no fas — it took off too hard — unhedged
Crap! I bought 20K shares of FAZ, not 2K! Oh well, same total as it was when it was at $45.
Ooooooooooh! There’s some salt for some Stocktock wounds!
Mean!!
2k profit already!
are you serious LOL ……… id like to announce , despite being a permabear, i had an up week
——— now if we can pull back i’ll really have an up week and i guarantee you ill be turning some to cash.
THIS IS THE BIGGEST PILE OF SMELLY BULLSHIT RALLY IVE EVER SEEN IN MY YEARS OF TRADING……… can’t believe my eyes. will it work? will banks raise funds from your pension fund at inflated prices? will CRE do the same? you and i are getting screwed on all levels. my arse is getting sore and i live in Canada.
Made a pile of dough from the stench this week. My best week ever.
Heads up for FAZ…..just in case.
http://www.marketwatch.com/news/story/wells-fargo-raises-86-bln/story.aspx?guid=%7BD341CBE4%2D765B%2D434C%2D8F4A%2DF5DF78B5B3EF%7D&dist=TQP_Mod_mktwN
Have a great weekend.Dk
Well if the market is doing a melt up it’s not unprecedented:
Check this out
http://blog.afraidtotrade.com/are-we-reliving-1982-or-1975/
Huge divergences stayed that way while the market traded within the 20 and 50 day exp moving averages. For quite some time.
thanks for posting this…………… just shows everyone…. do not try to hit home runs in this market. nibble nibble and short with fear. the euphoria of catching the bottom seems to have gripped this market and its really hard to understand. but you get what you get and it’s best not to fight it with your whole account.
——- SRS —— WILL CLOSE ABOVE $20 … just AH .. .i guarantee it with my blood
http://www.cnbc.com/id/30643468
just do this everyday for the next 3 weeks and they are all square on this Stress Test bogus… until things get “worse than expected” do we all believe that all the bad news is behind us?
It is at 20.07 right now AH …
Before you leave for the weekend two last things…..the leg down mirrors the leg up almost exactly like the back cover of a MAD magazine. Could there be any significance to this? Also might the SPX show a very discrete IHS completing? April 20 forming the dip for the right shoulder? Call me crazy? But I need a new perspective.
Better Late Than Never
The total number of Americans who are not working full-time but ought to be is actually about 22 million, or 15.8 percent, according to the Bureau of Labor Statistics.
http://voices.washingtonpost.com/economy-watch/2009/05/actual_us_unemployment_158.html
That came out from Mr. Magoo (Steve Leisman) on CNBS this morning. Don’t heckle me for watching this network–switching to FBN monday. Didn’t seem to affect markets————–yet.
or…………………..Elmer Fudd for that matter!
1st of all it cnbC not S… You don’t watch it well enough hahaha!
Bhrigu , its a joke CN “BS”
HELLO CNBS CN BullShit…you get it now
Oh I see what you mean!