2:16am
I am going to be gone another day, but as we look at the SPY 30 minutes, we have borken the channel to the upside (in sideways action). This shows some bullishness, however i’m not convinced that this action was enough to bring the bears down. I would wait until 10:30am before I make the decision of going long these markets. Here’s a 30 minute SPY:
RE Shorting IOC
Don’t even think about it !!! Goldman took a 7.2% stake at 81$ as per 10Q
report linked.
You know why it was up 5% today and what the ‘big boys’ will be doing to this one.
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6758336
good find
does GS control oil prices too ?? everytime we come close to breaking that weekly trendline it rallies. cheaper oil would be so bad for everyone. these bearish oil reports by the EIA do nothing to help.
What happened? The futures jump up AH (SPY @$108.36), are the big boys going to gap up next Tuesday?
yep. because i was waiting for 1083 to add the rest short we will just jump over it and try to get everyone to cover instead.
Richard – not sure if you saw this – but if you can share some info on how you calculate your turn dates on the weekend, that will be great ….
Your turn dates usually work quite well and this time you, Fritz, Zee all are coming up with similar dates …. the insights will be greatly appreciated
Have a great weekend …..
history repeats. only if i could take my own advice and just lay out all my puts on the turn date instead of half and just go long
unloaded my PALM today. they are upgrading and squeezing and whatever else to keep it above $10 … same with EXPE .
GIGM, reminds me of “gig em” when I was younger–good profits so far ($2.76), but have stop loss on. Nothing is sure at this point.
Are you holding the stock or options long? I have $2.50 July calls.
stock–5,000 shares
With Russell up to 0.7%, and market boost after 3:30 pm after hour boost. Next Monday can be a good start.
I still have a feeling market forming double bottomswith 1st bottm on Jan 29, and 2nd bottom on Feb 8, and move up greadually from Feb 8
..stopped out again..I gave up…Anyway I will take one week off…
…ciao guys
Lets face it folks the market had every reason to roll over Friday and it didn’t in fact it was a very bullish finish.We were down 150 on the dow with all kinds of bad news cosumer no confidence index,Greece,China tightening ya da ya da.Now why would this be?
If you remember a few days ago i posted that I just did not see any major moves other than sideways to up until at least late next week.We have no major earnings announcements no major economic projections and look at the technicals we are in between major support and resistance on all the indicies..I think someone mentioned in this thread that we are consolidating for an even bigger move to come which i agree with.Next week is the Chinese new year and their market is closed all week i dont think we see any major moves in the US market while China is down..
I will start to go short when the SPY gets to around 109.50 – 110.50 and if it fails to get that high i will ride the market to 104.50 where it should bounce at double bottom and go long back up..I feel right now is very dangerous to go short or longfor that matter other than interday scalp trades but i will ride TBT until a move is clear….
My theory is that the retail investor is still buying the dips that is why we go up on light volume because it does not take too much buying to go higher when all the hedge funds have covered their shorts.The big money managers want this market to go higher so they can short it once again maybe at 1080 or im hoping for 1100..Make no mistake I am a permabear and have been this climb since March is artificial and soon the bubble will burst we just have not hit the key levels yet..Last week playted out just like i predicted sideways to up on low volume,look for that to continue for at least a week maybe two..I could be totaly wrong and we could tank on Tuedsay but so far it’s playing out lets see if it continues..