Comments on: Intraday Commentary ~ 10/27/2009

By: Paladin

Paladin — Wed, 28 Oct 2009 03:49:58 +0000

Shorted coco last week. Lookit COCO FALL in a/h.

Guess no one wants to pay millions of dollars to go to a for profit community college to train
for a job that may never exist?

By: OxTrader

OxTrader — Wed, 28 Oct 2009 01:26:19 +0000

Until we see a new low printed on AMZN I would just play the fibs from Tuesday low to Monday’s high. That is a helluva gap for now. Still holding 100 puts myself..front month. This thing could still run in my honest opinion, but at least the targets are becoming more clear.

By: shady

shady — Wed, 28 Oct 2009 01:06:54 +0000

Don’t know Fritz 1070 was awefully tough today

By: Fritz

Fritz — Wed, 28 Oct 2009 00:57:51 +0000

Based on the numbers I am seeing on my charts, I am leaning towards a re-test of 1072 – 1076. If Nasdaq does confirm a two daily candlestick break of its long term support, I will be holding my QID calls. The SPX has not shown me a breach of long term support yet, so I’m not going to get too bearish on the market now.

I am positioned for a gap open tomorrow. If it gaps down I’ll likely dump most of my shorts and double down on my long hedges as long as SPX stays above 1050 and DOW stays above 9750. My DOW weekly chart still shows a small possibility that DOW 10250 could be reached before year end, so I’m not going to ignore that (we’ve all seen how the bears ignored DOW 8100 support in July, and ignored DOW 9250 in September, and again ignored DOW 9430 in early October; this is not the time to ignore DOW 9750 unless it is broken convincingly).

If however the market gaps up, I will dump half of my long hedges and re-load them on the gap fill. In simple words, I don’t care about the direction going into tomorrow.

By: puggii

puggii — Wed, 28 Oct 2009 00:05:48 +0000

thoughts on AMZN??? have some nov and dec puts..will it come down like AAPL after earnings and fill its gap??

thoughts

By: morris

morris — Tue, 27 Oct 2009 23:13:06 +0000

Visa earnings?

By: Sam

Sam — Tue, 27 Oct 2009 23:07:59 +0000

I am looking at XLF and I do not see any bullish point in that chart. I was wondering if I am missing anything beacuse the after market of XLF is up?

By: Idan

Idan — Tue, 27 Oct 2009 23:00:05 +0000

Nope we closed right above it.

By: Jess

Jess — Tue, 27 Oct 2009 22:38:37 +0000

Thanks for the AMZN call, I waiting until it was up to 125 and sold 125 Nov calls.

Am short HOG, a worthless pig that will float down to 21, nothing on horizon to change that one. Above 28 was the place to short it.

Short JCG– retailer that gapped up. A very good place to short still. Earnings come Nov 27th, so it’ll fade into that date.

Short PCX– anyone else short this high-flyer coal bemouth when it was up 25% today after lackluster earnings.

DTG & CAR– getting their due now.

Last friday, I spent the day writing vertical options, should have just sold the calls and bought the calls here lower, but will try and time it by selling the shorts down below and then selling the longs on the bounce.

I think we are headed to fill the gap. 1040ish on the SPX. We might get a doji and a lower low before then, which would be a bummer, because if we just go down to there now, it’d be one hell of a bounce.

By: buyallucan

buyallucan — Tue, 27 Oct 2009 21:23:18 +0000

i think the reverse….support holds, goes up slightly as dip buyers believe it works time and time again, and then pros come and sell it later to bring it to a doji. THen it rests on Thur’s GDP