1:39pm
I am looking into buying right here some DXD (double short the dow) based on my belief that we have seen a top in the markets as long as we don’t break into the megaphone formation.k I’m going to buy it here 12% position at $27.66 with a stop at $27.35 for the time being. I will hold this into the weekend unless i already have profits and then i will take some off the table.
4:40am
The S&P and Nasdaq look bullish, according to them, we are at/over double top resistance are going higher. But the dow (the index we actually trust the most in chartology) is not as bullish. It is not at the double top resistance yet, but more importantly, it has not broken back above the megaphone formation support line (now resistance)… This means that maybe tomorrow or monday could be the first day of a stronger move lower. That is very possible. But if we close 2 days in a row above my red support line then I expect at least 2 more weeks of upside. Here’s the daily Dow:
Might as well just shut everything down until 3:30pm and then check back in as dere is nuttin goin on.!!!
My only question is if we do the late day dance like we have been will i take a short going into next week ?? I guess it would all depend on the entry level.
Weekend shorties have been getting smoked.
I’d rather take up heroin or crack smoking as its less destructive than watching
your puts injecting your cash into money heaven.
On a positive, this site had many uber bears capitulate this morning expecting
massive rallies. Not to slight them in least but maybe that capitulation is what
sets up a crash or at least a small move down?
Remember that I was saying that Ford had a triangle breakout tgt of 13.20 and I would not short at 12.95 …. well it reached 13.20 today …
Ford is a good short here between 13.25-13.45 with a stop above 13.52 … if it breaks that it can goto 15 …
Hmm … weekly Ford shows a inv H&S – tgt of 15 …. why didn’t I see this before ?
i took my F $13 PUTS off yesterday. it was creeping me out. every dip under $13 was met up with buyers.
Hey stockhead81, I’m going to give VXX a go.
500 shares @ 23.84
Should be good for a few points… I have a stop on mine at 23… I bought earlier at 23.95…. SGG doing good in the last hour so all is good
…. Usually never lose money buying something this low on daily RSI… Also bought some more FAZ at 14.50 … .20 stop….
Good Luck!
Join you guys on this trade. Bought some @$23.90. Bullish cross on MACD. This stock is way oversold. Will add more @23.2 if it gets there.
looks like a lot of people got burned on FAZ. I am almost positive I posted my FAS chart letting everyone know that we broke north of a long term wedge and have been on top of fib retraces leaving it bullish until proven otherwise. but i can’t blame anyone for wanting to play a retrace or look for a drop.
http://stockcharts.com/h-sc/ui?s=FAS&p=D&yr=1&mn=6&dy=0&id=p04106120622&a=181585575
I HATE trading financials and banks hahaha. obama is creating such a mess and the banks have so much BS on their balance sheets that i can’t in good conscience, trade bullish on these stocks even though the charts point north.
No more FAZ for me, EVER!!!
And to think that I used to be the guy warning everyone here to not short the financials. I am an idiot!
hahaha. i have totally been on that boat before, where i said i would never trade a stock, or not short a stock, and then, i do, and get burned. stupid stupid stupid.
in a few weeks you’ll be considering FAZ again =)
Actually, I’m still holding it. I’m down about 2300 on it right now.
the biggest thing in your favor, is that the long term RSI is very oversold.
however, it looks like FAS is on its way to possibly double top at the 95 area. might be a bit more pain with this sucker if there isn’t a major retrace before then.
good luck!
Thanks! I think I will be able to get out pretty soon with little to no pain (and maybe a profit). We will see!
Thanks for all of your advice!
i still think aapl is bullish.
http://stockcharts.com/h-sc/ui?s=AAPL&p=D&yr=3&mn=0&dy=0&id=p19885219021&a=173009294
that trend line is holding firm.
gdx is still sitting bullish.
http://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=1&mn=4&dy=0&id=p11585383401&a=192494085
UAUA is almost at the minimum $20 retrace that i called for:
http://stockcharts.com/h-sc/ui?s=UAUA&p=D&yr=3&mn=0&dy=0&id=p05197197960&a=192491148
Yes – 20 was my tgt – this idiot did not go long though
neither did i haha. i was invested in other options. =P
i looked back in my records and owned UAUA 500 @ $6 but this board is so bearish all the time its hard to hold strong
i dont care if everyone here says we are going to 777 on the SPX im holding my PWR long until it hits the target. holding up nice here
richard – you remember my bullishness on V
http://stockcharts.com/h-sc/ui?s=V&p=D&yr=2&mn=0&dy=0&id=p46385466379&a=182188187
back at mid 80s i was telling you to watch for the bullish move towards 95, and we’re at 93 so far =P
Woo – how do you come up with the 95 tgt when we have never been in that price range before ?
Did you notice my posts today
Please don’t say magic
An explanation would be awesome
based on EW rules and fib projections.
also a number of other bearish opportunities weren’t taken and bull indicators held.
good job with the posts anj. looks like you’re become quite the analyst
did you buy it ??? i actually made money on it in the end. being very quick.
ive only been watching it since it dipped below the 40SMA
NOW …………. V is a good short. not $95 yet
WFC chart
http://stockcharts.com/h-sc/ui?s=WFC&p=D&yr=1&mn=4&dy=0&id=p34611356367&a=162854003
another reason why you can’t go long on FAZ yet.
Master woo is in the building.
Woo so when do we go long FAZ? At this rate FAZ will be 10 then when market ever corrects which looks highly unlikely you buy at say 10 market corrects and maybe FAZ recovers a little back to 15 net result if you are over 15 is ya lose. Basically any bear is in a no win situation currently. Then when they all get sqeezed out and sell then the market turns and they lose any chance to recover since they sold. What a great deal. Talk about a Ponzi skeme you are looking at these crooks laughing to the bank with your money.
if FAS doesn’t stop at 95. it’s heading to 105 if not 120.
i don’t have a lot of trend lines drawn on my FAS chart at the moment, but that may give me a different assessment. but when i look at the chart FAS is still bullish until proven otherwise.
Ok – this is the triangle … thanks to Anitang for providing a link … I need to figure out how to post pictures …
Anjali says:
March 12, 2010 at 1:36 pm
OK – we broke out of the triangle … taking a breather …. now lets see if the runner can still run the marathon …
My line in the sand to go bearish is now up to 115.35 on SPY …. or if it touches 116.21-116.5
Reply
Anitang replied:
March 12th, 2010 at 1:48 pm
Look like this?
http://blog.afraidtotrade.com/a-second-spy-intraday-triangle-forms-march-12/
Your doing a fabulous job Anjali.
Haha … thank you … if I save people from going short too early I have helped …
This board has helped me so many times …
We are close guys …. but not there yet.
My line in the sand to go bearish on SPY is now 115.40 or a hit of 116.21-116.5
Are you following a trendline or what?
Yes a trendline in my head ,,,, that is rising – just under all the lows today …
We sure are hugging the spot. A little “drop to help the pop” would be good.
You just got it ….
I would feel better if we had spiked below 115.14 …. and then bounced …
Market lulling me to sleep so here is a cut and paste from Oahu Trading. . . .
There have been house fires occuring 1 or 3 a week in Oahu. No one has expressed a theory on this yet…..hmmmm. Overcrowding perchance? Overburdened perchance? Sign of things to come.
http://www.msnbc.msn.com/id/35818399
In China, 11 rare Tigers, only 300 left in the world die of starvation–no money to buy food. Shouldn’t they have donated these tigers to somewhere else? They were feeding them only chicken bones (not meat). What is the extent of human pride in keeping these animals….as a zookeeper, being willing to kill a rare and endangered species rather than saying….sorry we can’t afford them, can you take care of the tigers for us.
http://www.msnbc.msn.com/id/35831930/
faz went positive for a second i saw it, amazing
Probably at Anjali’s 115.40 short call.
now getting better, feeling better, lol
http://stockcharts.com/h-sc/ui?s=AMZN&p=D&yr=3&mn=5&dy=0&id=p26025705517&a=181646175
AMZN is still bullish in my book. i’m tempted to add another position on this sucker.
Is it a dobble top in INX we are seeing or are we going for the wedge 19 of march?
Please have a look at my chart a give a comment.
http://img412.imageshack.us/img412/56/wedgeimarts.png
A marginl break over top means normaly correction, but golden cross, all ma under price – hy not then going for the wedge ending 19 of march?
Bernard
should have done a buy stop on faz for next week, live and learn.
update DJI towards 11030 for those that are interested:
http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=1&mn=1&dy=0&id=p54048515502&a=184607015
is there an alternative scenerio
that trend line better hold like its life depends on it. it has already cracked and it’s above all the fib projections…
then it needs to go south below the trend line which is sitting currently around 10100.
path of least resistance at the moment.
Path of least resistance is down Woo ?
path of least resistance is currently up.
We are hitting against the trendline or have we broken it ?
Can u share a zoomed version pls ?
hitting it.
Woo – can you pls provide a zoomed in version of this one too
From Kenny’s blog (sorry ladies):
It’s nearly 3:00! Bendover,apply lube liberally and assume the pump position!!
i get that feeling too.
literally every thing i do is wrong for the last 6 months and i cant go with what woo is saying even though he will be totally right and i will be screwed again
———– WENT OUT FOR A BIT ———– SRS ,,, did hit my target $6.29 LOD
CANADA UNEMPLOYMENT RATE …….. today they say it dropped
our dollar is almost at par with the USD$
it broke the previous low on the daily with ease. its putting in the same red doji it did that day back in December at $7.00. i bought it then at $7 and change and rode it to $8.50s. hopefully im right again about this gap fill.
however SRS looks much sicker on the RSI than it has ever been. maybe traders are simply sick of this ETF
I’m heading out for the day. I’m going to let everything ride over the weekend which I know is very risky.
3000 FAZ @ 15.25
2000 SCO @ 12.65
1000 SDS @ 32.10
200 TLT @ 90.00
500 VXX @ 23.84
I think this market is either consolidating before moving higher at the beginning of next week or making its last gasps before a short term correction downward. My positions indicate that I think the latter scenario is more likely. If I am wrong, Monday will probably suck very badly for me!
Have a great weekend!
i hope your right just because im playing along
Good luck Morris. Your patience seems to pay off. Hope the streak continues.
RSI tends to point down next week…. Finally am up nicely on FAZ position after getting stopped out twice this week…. SCO, TLT, and VXX looking good. Have a great weekend Morris and everyone else on here….
Wonder if these bots are from GS. GS is one of the few green banks that I watch.
———- BAC ———– not looking so bullish anymore
———– AMZN ———- this is very bearish imo. i have a trendline connecting the tops and it failed to reach it. this is buyer exhaustion as the sellers see the target and want out before it gets there? the RSI pattern is a common topping pattern. 80+ RSI …….. pull back……. bounce higher and fail 70 RSI……. hope im right.
target $127.50
————— 1147 ———— THIS TARGETED HIGH. if we only spend just one day closing above it ………… id say its a failed continuation / extension FIB.
yet HOG ,,, which i unloaded just sits at $26.75
seems its the BANKS that are getting it. FHN IBOC BAC all red
————- PALM ———– sold the shares and the puts……… done watching this one. im not playing the earnings pop. ive made a profit doing what i did.
——— GNW ——- added more APRIL $16 PUTS this week. looks good.
this stock needs a breather . look at the daily chart diminish volume
as it grinds higher.
the price action of late appears more and more
like an engineered short squeeze. the volume
only picked up the past few days as remaining
shorts panicked? we never know for sure.
Someone posted they were up 11 days in a row. And some big moves. It was WAY overdue.
…green again? 11th in a row…never happened before in all history….
here comes the late friday surge for everyone preparing for mutual fund monday……..
i got them this time. went long 100% at 3.25 to 3.35 now my stps at profit
**between 3:25PM to 3:35PM bought FCX, MOS and POT
I don’t trust these MF so taking the profit and getting out of my long…
glad I got $1690 back
10 consec days up
First time since right before the crash in ’87 on black monday. Before that was ’29.
They would not allow the dow to correct back then either. How quick they forget .
..I was thinking of 11th…lol…maybe I was so pissed off that I counted it wrong….
..besides this I am holding my PUTs….more bear than ever….
Just got my Sheppard Market Digest in.
Short via AprSpy113P 200 contracts @1.48
Can’t do cut and paste, will get booted and this guy has made me large.
Sees buyout mania and rumors =’87
High Beta = ’87
Low Fund Cash Levels =87
Japan in ’87 and now its china that’s gonna save the world.
In ’87 economy was booming, now its dooming. We have days, not weeks.
Sell longs on close, liquidating it all. Not worth the risk here.
Woo, delete this post after the regulars have a chance to react. TIA
Do your own DD, even my dog don’t listen to me !!!!!!!!!!!!!!!!!!!!
jimbho,
my email is pfowler1976@yahoo.com
would like to talk to you about jim shepherd
hey Jim how did you do today? I didn’t traded until 3:20PM assuming what happened yesterday I should play with their plan… it worked out well for me. went long and within 25 min I made $1690
long is making my day…
Balanced to cash. Holding SPY P Apr 113
My ‘stock guru’ just yelled crash. I listen.
Jim Shepard has been around forever, regularly quoted in marketwatch,
he’s good = i listen.
He got me into IOC @ $3ish and again at 10 when it used to trade in toronto.
Ditto Eldorado gold. EGO@$4 and Taseko Mines @ $2
He got his people out of energy with oil @125 in 08
Still likes gold and silver but miners overextended by half.
Be careful guys. His fundy and t/a point to collapse, not just correction.
from where can I check Jim Shepard news/post?
Subscription.
http://www.investment-newsletter.com/index.php
Hey Jimbho,
Thanks for the post … Was wondering when Shepherd thinks this market will
Collasse ? Hopefully soon
Thanks
God Bless
mark
i am new to this board -
Ok – we had a fakeout move down and back up …. noting changed on the 60 min – still above 115.4
new highs or dbl top here we come … …
we should move higher into mon / maybe even tues
slight pullback into the close will setup a gap up on monday …
I might have to go long here on wick no over head wick on the candle. hummm….
Yup the miraculous last 15 minute rally will end up +50 seems like ground hog day over and over.
i wish they could take it 70 points higher casue the higher they take the faster they will tank it
^ Bingo, don’t get caught up in this frenzy, its coming to an end.
———— UAUA ————- hardly looks like it has topped but im going to just hold 100 shares for now and add when i see somthing that signals a sell. above or below this price it dont matter. just need to see a sell signal.
————- V ———— just bought APRIL 95 PUT …………. topping candle
have not touched this stock for 11 trading days where i sold my MAR 85 PUTS.
looks like if i held those for even one more day ida been toast.
…who is bearish for Monday? I AM…..crazy bear…lol
you kidding me
:)
Not me.
————— IYR ————– if this picture perfect topping candle
at gap resistance does not play out………………. ill quit for the 7th time
slight pullback into the close will setup a gap up on monday …
I’m with you kid.
SO ……… IYR … picture perfect topping candle at the GAP = my pain
as it gaps over the topping candle and goes to 60 ……………….
this is why i added to my super bullish looking PWR
see the candle rich … its now a doji …
DRAGONFLY DOJI………… if it does not confirm on MONDAY
maybe it just flies past that GAP and all is well with CRE.
look at late DEC IYR…….. 5 bars up and DOJI … kaboom
this time 5 bars up and DOJI …. kachonk?
———– PWR ———– adding to position LONG
Nice play Rich … I didn’t see this am … this is a good one … you playing this with calls ?
——– 5 ITM calls ——– 2 in the AM and 3 at the close.
cant do much more as the options are not too liquid and
ive been burned bad by that lately. APRIL $17.50
Wow what a screw job!! FAZ closed @ 14.73 up .09 and then out of nowhere ends up just a penny! Pure bool shit!
FAZ is like a cheap whore. Great to have around when things are good but, don’t fall in love. hahaha
IF THEY CLOSE SIX(6) BANKS this weekend === BULLISH FOR BANKS
because there is less competition for remaining institutions.
HAVE A GREAT WEEKEND ALL. …. hope all your trades go great
next week. the idea of a BLACK MONDAY has never worked out
and its not good for the world. this manipulation is better for your
country shot term so don’t wish it away.
IF THEY can manipulate this thing back to 1500 im sure to sell
all of my beads before this implodes. that would be good thing.
—- 999 ——————– ha ha …… turn it over boyz
I hope you all enjoyed my commentary today and I hope it stopped some of you from going short too soon …
We are close … but IMHO not there yet …. I believe we are set for a gap up on Monday …
My lines in the sand still remain the same … 116.2-116.5 or a break of 115.4 … I will watch this level on 60 min, as the 20 MA is just under it as well …
some things look ready and others dont. thus i went long PWR and happy
thus far and have no fear on MONDAY for this one. but others like V look
very toppy. guess im less caring about the general market. getting caught
up in the SPX wiggles has kept me from focussing on the correct entries
of the stocks on my list.
GOOD JOB TODAY !!
…I would be happy to be wrong…like often happened before…but I disagree….
The bearish formation created today is still in force. SPY has to reach those levels that I mentioned this morning.
..playing with Fibonacci levels:
- we had this last leg down (minor W1 of W3)
- by EOD it reversed & stopped exactly at 76.4% retracement (W2 of this minor W3)
Beyond this the same stuff (PPO Daily and Hourly) and Zweig/Mcclellan
MUST READ FOR US MORONS WHO KEEP TRYING TO “CATCH THE TOP”
http://www.cnbc.com/id/35834029
ON THE CONTRARY
http://social.stocktock.com/photo/spx-mar-9?context=latest
STILL INSIDE THIS BEARISH PATTERN
but still room to wedge higher as we have
for 3 more days since i posted this chart.
the range is really tightening as this tops.
More great news. . . NYSE margin loan levels highest since Oct08 while
volume at multi year lows. RETAIL INVESTOR TRAFFIC UP FOR FIRST TIME
SINCE OCT08.
Ditto NSDQ and Amex.
Think i just figured out why the put the new short sale rules in place.
I just can’t see how we crash without volume?
MORE GOOD NEWS!!
running charts i see SPG ………. real estate is saved! look at the weekly!
P&F … which i never use…… but its funny. target $109.00
http://stockcharts.com/charts/gallery.html?spg
http://stockcharts.com/charts/gallery.html?spg
look at the weekly on this sucka. looks strong!!
the PF which i dont use says $108 target lol,.
we all know the CRE = DEBT and if DEBT = CHEAP
then they can live longer than all think.
Jim NYSE margin loan levels highest could also mean many went long! couldn’t it be? please explain
Loans can go either way, most investors are long only as shortsellers are
evil devilish as per Bush.
I suspect its retail investors going on margin for opex due to unemployment.
jimbho
email me pfowler1976@yahoo.com
http://indexinsight.com/SMF/index.php?topic=1538.0 _
Bears once <<<>>> lose their ass. Come on guys admit it, the rich SOBs need to put cash to work, the Bond market is on edge, money flows into equties can last at least another 2 months before a meaningful correction. 11000 dow and 1200 on the s$p sound like a good point for a revalue of this situation. The weather is getting better, pent up demand; better than expected news is going to drive this market higher and thanks to shorts. Morris will cover Monday. FAZ is in a death spin. I predict it will no longer exist this summer, or has a 10 to 1 reverse split to stay alive.
Look at my GS recommendations last week…UP nicely.
For those that asked:
Jim Sheppard
http://www.investment-newsletter.com/index.php
check his review at marketwatch.com
fairly impressive strategist.
i have his letter currently would like to talk to you privately, email me
email sent, check your filters. Old guy, don’t IM or text.
Is it ok to post phone numbers here?
2148082237
i am not that old but i cant see your email
Will try later today, my number is 716-804-9588
If your gonna send me pizzas no anchovies, got fish allergy.
Zee, if you see this, give me a call. . . you should get the CSI course info
in seriousness.
jim shepard is bearish jimbho??
lol thanks for taking care of me jimbho,
yea i know, its really tough balancing 5 full courses + trading + CSC on top of that… the place that i go to everybody is young and everybody parties so its hard to stay focused, but i do the best i can..
I don’t suggest posting phone no here their will be many abuse it.
Is Jim Shepard Bearish or Bullish?
He is constructive. Bear markets don’t go down forever and the rallies are more profitable than bull runs.
Holding puts or inversers during bear rallies is destructive to bottom
lines and confidence.
I am trying to get his permission to do a partial repost of his views here.
If you wanna do me a favor, go out and get the prettiest girl in the campus and
have a good time. Life is about that, not getting trade, getting laid.
Zee, be yourself, be proud of the fact your young.
No amount of cash can replace age with youth, i know, i’ve tried.
that’s was good one!
checking, 123