4:17pm
Close looks bullish into tomorrow, we will have to see how surprising the jobs number is.s o far the news on the earnings front is not good, and the market is still holding on to gains…
2:56pm
The market is still managing to stay up.. the lat hour of trading will be interesting as people hedge their bets for the jobs number tomorrow.
2:14pm
We had some difficulties but we’re back. And it looks like the triangle we had on the SPY/SPX for the past 5 hours is breaking to the downside! SPX 10 min:
2:13am
Yesterday’s close was not bullish nor bearish. Even though the market was able to rally to new day highs, we ended the day in the middle of the action (assuming you don’t count the gap up). The 1054 level will be very important to watch, the fact that we didn’t really break above it lends me to believe that there is a possibility for a gap down play, but again, i’m not wagering on it. I believe tomorrow and possibly thursday the stock market will decide which way it wants to go, I suggest you follow that trend, NOT what has happend up to now.
2:11am
SPX 120 minute chart, showing the fib retracements that are important to watch for, assuming we do rally to 1090 (not necessarily the case).
The AA earns were better than the loss they told you to expect even tho alum prices higher
and infrastructure spending kicking in. Cost cutting means jobs cut and sent to mexico,
brazil or china. Weak domestic demand and weak from europe.
First time job claims will be bad but blown off as market advances on strong earners and beat
expects. Gold strong after hours and at new all time highs.
The AA news musta been leaked, look at the SPY volume and bid going into the last 15 minutes,
ditto the AA stock and others in the Alum subgroup.
Remember, the SEC has a blind eye to upward manipulation and only wants naked shorts, stop
fighting the trend.
When AA dropped to $13.85 this morning but held above it, my AA charts were already screaming “buy”. When AA started moving above $14.10 this afternoon, my AA charts were screaming “buy, buy”. After it touched $14.24 and closed at $14.20, I knew it was a done deal.
I should really trust my charts a lot more, they’re making me good money and helped me avoid lots of losses.
r u looking for pullback to buy (i.e gap fill)?
That gap fill might take place after the trend change, so no, I’ll hang onto what I have now and close my positions with profit prior to opex.
If AA doesn’t reach its price before the next major broad market decline, I will NOT short it.
smart–thanks. did not figure for it to fill, but if does (tomorrow), I am all in.
Listen to fritz, one of the best here on indiv stocks. Last go round AA
went up 10% in aftermarket and sold off the next morning as the smart money
sold the news.
NYSE margin rates highest on record, same level as in 9-08 before the crash,
lots of fast spec cash in this market chasing late gains.
If AA pops on open, its too late. If it starts selling off its an sign the rally is
petering out. Read fritzies post about the congress, surest rally killer on the
planet. The intra day rallies, the buying all dips and the aggressive bid up
of worthless stocks is exactly what we saw back in Sept08 and jan09
when the fast money comes to play.
When it leaves it goes automatic to short and drives markets down with a
ferocity that kills investment. I just can’t see what will spook or panic the
market this time but it will.
Last 2 rallies the cnbc anchors kept crowing about how resilient the market
was right till the minute it rolled and died.
Careful won’t lose you money. AA is a trap door waiting to spring.
dude, have major monies and can make decisions without you. need another hit?
Fritz, just for kicks, bought some minimal shares in NG (gold) at 4.5–thinking about selling, but don’t know where it is going. Any thoughts on your end?
Put your money where your mouth is. I dare you to short this market. You won’t get anywhere but 5-15% if you time correctly.
Invest for the bull.
Really? I made 180% in one day last week.
Fritz, I followed RIMM the same way you were follwoing AA. From chart it did gave many sign of BUY, BUY BUY… I bought last year based on that… next thing I knew I lost over 65k within weeks!. This time last week I did followed RIMM chart agian, it was giving same “BUY, BUY” but I went short at 84 and covered at 70 10% recover my loss from RIMM!
I don’t know what you were looking at but my RIMM chart did say “SELL SELL SELL” on September 23, so apparently we’re not following stocks the same way.
RIMM reported after market close on September 24, so my chart gave the signal one day earlier (which is exactly what I want – advanced signals so I can front run).
I didn’t pull the trigger on RIMM because I hadn’t done sufficient research on it. I only trade what I understand.
I have the advantage of a timing analysis that complimented my TA so I could estimate if a stock is running out of time to reach its target and must achieve it with gaps.
looks like the market goes down tomorrow / friday – not sure why – may be just my gut feeling
If your gut is as big as mine its just something you or the market ate.
I’ve had that feeling for a week now. Not sure what, something is gonna happen.
This market crash is different than any other ones.
Back in 2000, discount brokers were not as popular and individuals usually went to brokers to invest.
The smart money wants discount broker-users to short stocks, so they can steal your money. Why are you fueling their fire?
Stop listening to the bears.
BULL is the way to go. YOU WILL REGRET IT if you don’t go BULLISH
Don’t regret it… when were at 1500 are you guys still going to be chanting were in primary wave 3.145555 and were entering correction ABCX123X000???
When were at 1700 on the SPX, you guys will still be chanting were at primary wave 5.01429 and correction ZZ zigzag/hyperbole is coming.
Why can’t you guys just accept the BULL TREND IS HERE TO STAY?
Zee you see no correction at all?
The trend is your friend, until it ends. And this one will end at some point, but Zee is making more money being long than the shorts are at this point.
With the dollar tanking, the market will go straight up. Perhaps until the Fed and their henchmen will scare the bejeesus out of the global markets, scaring another trillion back into Treasuries so there will be someone to buy all the junk bonds the US needs to float to finance more ‘stimulus’ and next year’s record deficit.
Yep, after the holiday season there will be a wicked correction, the Dollar will soar, bonds will sell, stimulus will be issues, lather, rinse, repeat.
Future up 5 point on S&P…. what’s going on? Is is AA>
It’s a bull market.
What do you expect?
HAHAH TOMORROW +2% rally when traders will want to buy up stocks before earnings!! yesss
I thought you said short this market after OPEX… now you are going to 1500?
Dow futes up 86 pts S&P up 10.4%
Gold comex at 1055 on clear breakout.
I expect a 3-5% downmove after OPEX. If you are playing options/leverage you can easily make 10-20%… My views on the long-term trend is up. We will get to 1200 just not this month.. by jan 2010.
I like to inform others on how you can play the short-term trend.
The intermediate top will be oct 16/19.
an intermediate top is a top that lasts about 11 trading days..
sorry for not being clear.
Bull market? It’s the dollar!
Yes..they did the last time around.
At some point the market will acknowledge reality . If you are involved in retail as I am you see it every day, the fundamental driver for this economy is the consumer, and they are spending very carefully. No way we are gong non stop back to the free spending speculative cycle. Can;t be too long before this is reflected in the market, perhaps after a dismal Christmas season is evident, if not sooner.
spx close at 1095 tomorrow….
Happy to finally see you calling the top
Hi crew. Your blogs today were great. These days I only get to check in at night but it’s good to see ST still the quality play of the stock blogs.
Here’s Max Keiser’s take on the future of the dollar. Worth the 5 minutes.
http://www.youtube.com/watch?v=D7dH4e8HYFA&feature=player_embedded#
Great video Valerie.
I’m looking for 1200 by december, then the big correction.
‘the world is giving america.. the colective uhh… I can’t make the gesture here on television.. but it involves the use of a single finger and an outreached arm with a bend elbow’
lmao