CLNE reports March 10, 2010 which means that for those who don’t want to take any risk, you should take any downward action and enjoy the profits. IF we do get some 3-4% down-moves ahead of it’s earnings i will take 50% off and stop out the rest.
I don’t see any bearish signs on the SPY anymore, we broke right back into the support area (now making it resistance), and while 1140 is some resistance, and lets not forget the double top at 1150, unless we get some type of mid-day reversal i’m going to be bullish biased. I suggest you stay with individual names though, GS looks very bullish now that it has broken out above it’s former H&S neckline. A break back down below the neckline at 165 ish would make me bearish again.
Damn – missed the breakout of RIMM this am …. bugger not giving a chance to go long … tgt is 78 then gap fill at 83…
Will enter only on a pullback – too extended right now …
Richard/Anjali,
Check this out (referring to Post #44), pls click full size for larger view:
http://www.screencast.com/users/springheel_jack/folders/1003/media/d99cb01d-c53c-4e38-8a64-1891ebb843b9
Thanks Anitang – u can also see the picture picture if you double click it …
March 8 (Bloomberg)
Equity mutual funds are burning through cash at the fastest rate in 18 years, leaving them with the smallest reserves since 2007 in a sign that gains for the Standard & Poor’s 500 Index may slow.
Cash dropped to 3.6 percent of assets from 5.7 percent in January 2009, leaving managers with $172 billion in the quickest decrease since 1991, Investment Company Institute data show. The last time stock managers held such a small proportion was September 2007, a month before the S&P 500 began a 57 percent drop, according to data compiled by Bloomberg.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aPidmY6Nga30&
that’s bullish and normal for this stage of the cycle and going into a witching
cycle. Managers usually hold back 10% going into eom and optionsexpiry.
Equities take a pause today. Any weakness is a buying opportunity ahead of another leg higher ( at least 1150 ). A break of 1119 would turn us defensive. Go “Big Boys”.
one problem with this thesis. the market likes to burn people. everyone and everywhere i see calling for 1150. if we dont stop short of that i quit and re-think my re-thinking.
————— 1150 —————- JUST THE THING EVERYONE IS CALLING FOR
if everyone short the market thinks we get to 1150 ……. they cover, mission accomplished. the market wants shorts to cover and that has been done on such light volume its amazing. everyone that thinks we should short a double top is waiting to go short. no one shorts the market at 1145 ,,, mission accomplished. everyone long the market waits for 1150 to take profits… rut roh. panic sell.
Volume on spy looks like week after x mas
If the pattern continues we will inch up on low volume to 1150 on the S&P then drop but the only problem is that it is too predictable im sure there will be another twist thrown in..
———— SRS ———– $6.66 ……….. lmao. dont close here or ill fall off my chair
CERN = -1.2% BA = -1% ……… ok. correct choices
HAS = flat , no position, still ,,, looks very toppy.
PCLN = +2% and back to $240 ……… phew. took profits Thursday.
ive removed PCLN from my list . this is one strong stock.
Sold some OTM calls.. 120 and 121 for the SPY.
Also entered UNG.. sold calls so avg price is $7.87.
That’s a great move zee, what price did you get and how much margin did
you put up at risk?
Wondering, small position? I wanna do the same, chaaaa-chingo !!!!
Yeah it’s a small position. I use IB so I think they give me 4:1 leverage..
5 @0.06 120
5 @ 0.03 121
Also I was considering selling 120-125 GLD contracts.. they are kinda liquid and no way gold is going up 100-150 pts in 8 days..
Lastly, I want to go short the SPY and will likely do that tomorrow. I’ll hedge with VZ or T.
??????
Your failing math i guess, lol. You sold $90 worth of calls and the margin on
the lower priced is higher than the other. I guess now your gonna say that
IBD charges me a minimum commish but not you, lol.
It would cost $102.33 to sell $90 in calls when you include the admin.
————- MAR ————- this one is making me bonkers. i expect to at least pull back to $27 in the near term. it used to be a 2 bar break on volume meant something. then it flew higher on even bigger volume. too fast for me
now it huvvers above the 50 FIB of the last move lower by pennies and puts in a topper with a bear market RSI. wait and see. never added.
———– UAUA ———– never quite made it to $19. MAX PAIN = $14 to $15. if it breaks $17 im thinking it can hit at least that $15 target. remember, this company has a less than healthy balance sheet. but funnymentals mean little in short term.
as of the last quarter current assets were below current liabilities. it has negative common equity and has failed to pay down the long term debt.
———-BAC——– short term double top doji blacks with double top in the RSI. lots of resistance here. hell, if i was being diluted like these shareholders id want out. a decent dividend is a long ways away. RSI = 63 pain = $16
———– EW ——– classic bearish topping pattern in the RSI.
—AGAM — here is a recent IPO that ive been watching as it is trading below the IPO price ———— AGAM ———— IPO = OCT 21
medical device maker, priced its IPO–13.8 million shares–at $14.50 yesterday, after price talk of $19-$21 earlier in the week. That’s where it’s trading–$14.50, and it looks like the underwriters are actively supporting the stock, since there is a line drawn right across $14.50– (cnbc.com 10/22)
TWO BAR BREAK……….. on volume ……….. 80SMA daily AGAM
Morris, you have only solidified your lack of trading skills. I find it real interesting that you come back on this board many days beyond your bad trades (were commenting all the time before), then show us that you are going to make monies. Where were you when GS dropped to 149? Couldn’t you just drop a note and tell us your were holding? Obviously not, you did not want to take further risk with your reputation (?) for calls. I will now enjoy your future comments as total comedy. By the way, any response will be BS–you are good at that.
Thanks! Your comments are always very helpful.
No, they only try to weed out the rif-raf. I have made a lot of monies ($500,000+) with comments from Richard, Zee, Fritz, Idan, others, who actually give some reasoning. As asked before, how do you make your decisions? If no answer, you should start your own site.
I commend your excellent work! I can only assume that you are an administrator on Stocktock now since you seem to have the authority to tell posters if they should stay or go. Congrats on that honor; it was well deserved!
Blackhawk, I am tired of your always criticizing Morris on his trades. He chooses to share them here which is more than you ever do. You say you have made a lot of money from information posted here. I don’t recall your posting any specific trades yourself but yet you choose to criticize those that do. If some of the trades posted here are not to your liking then why don’t you just ignore them and consider only those that can make a lot of money for you. As to contributing information on some of those profitable trades; we have yet to see anything other than how much money you make…nothing in a real time trade which those you criticize are doing.
Hi Guys,
I am still holding my SPY PUTs with huge losses. I expect a shallow drop in order to recover something.
Anyway, there is no doubt that SPY is very overbought (seven green days in a row). Maximum from 03/09 lows was 8 (a Fibonacci number) on 11/09.
Both minor bullish formations are still in force and it looks that SPY will reach 161.8% (115.50 – last top and also 02 Fibonacci matches)
Sentiment indicators are overbought but still bullish. VIX is showing a nice bullish cross
http://www.freestockcharts.com?emailChartID=4f22f09e-ed72-4867-bfe9-584877bd9628
…I know that market is always contrary…looks like everybody is waiting to short at 115.50 level….
…from Fibonacci perspective, regardless of any TA indicator and null volume…I would say that current formation is very bullish…
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I told you last week that airlines are reay to drop. Look at AMR and UAUA. AMR dropped more than 4%. This is why I keep saying stick with big boys. The power of my trade is when I said I am bullish when everyone was bearish and then I said at a right time that rall is about to complet. SWBB
Watch DRYS tomoorow. Today I said the stock is short when it was 6.15 and all of a suuden stock dropped as I said. But now i take a close look and I think stock can go to around 6.0~6.5 and the drop hard. watch to see if this will happen. SWBB