2:46pm
Sorry i had an important meeting to attend to in the morning. But let’s take a look at GS. 2 Weeks ago, i said it was a strong buy in comparison to the market, and we got a nice rally. I think it’s now ready to pull back at least 3% from the red descneding resistance to my blue flat support before it moves any higher. Obviously if it breaks my red descending resistance i think it’ll rip higher, but for now i would rather take on a pull back short:
Take a look at OSIP………this is crazy…….. extremely overbought. 85.94 RSI.
The world is overbought, bonds, gold, markets, currencies, all overbought and bid ever higher.
It was like this in ’87 just before the crash, no one saw anything but up until the floor vaporized/
Elevator buttons at brokers had UP and NOT UP as down was not to be discussed or mentioned.
rich -
BAC
http://stockcharts.com/h-sc/ui?s=BAC&p=D&yr=0&mn=6&dy=0&id=p25088602712&a=190186487
As I mentioned yesterday – you might get your dip. We’re back below that trend line. If you can get a follow through and consolidation below this trend line all day today, you could see 16.50. good luck!
thanks,
SO I NEED YOUR TWO LOVED ONES………… BAC and AMZN ………….to bleed a tiny bit
AMZN id like to see sub $132 to get back under the 20SMA 15 MINUTE
BAC id like to see at that $16.50 tomorrow.
i hate BAC. I still would love to see it go bankrupt haha.
AMZN I love this company. fundamentally and technically.
What amzn really needs to do is break below the trend line which is a little below 130 right now. if not, it’s going to shoot up really soon…
Hi Guys,
I know the reason why we had 14 green days in a row. St Patrick is running Wall Street right now….One big boy told me about this….
..oops…15 days….maybe?
——————- AMZN —————— happy i took half off yesterday at the close. this sucka has been trading against the grain all day. above the 20SMA 15 MINUTE ever since 11:30 AM and shows little interest in selling off.
LOOKS LIKE I MIGHT JUST BE SAYING BYE-BYE to this position today.
$132.50 at the close is my breaking point. if you look at the weekly chart its looking more and more
likely this one rises back up to tag 70RSI on the weekly. VOLUME is again light.
http://stockcharts.com/h-sc/ui?s=AMZN&p=D&yr=3&mn=5&dy=0&id=p26025705517&a=181646175
i still have a 145 target on this sucker until we break the trend line below here.
ONCE IT GETS …………… back under $132 short term trend is down …………….
I JUST SAID A PRAYER…. new trading technique
whatever works. i usually don’t pray when it comes to stock….but there are some mornings i wake up, look at the market and say..”oh God…..”
volume is the reason i’ve been so crazy about this….this whole market seems to be trading like it’s the summer NO VOLUME
think alot of people have decided to not BET AGAINST the computer trading as it is too tough.
possibly, many smarter than myself, have decided to quit.
my problem is “early entry” ….. ask my wife
most wives complain about early exit, so do most traders.
when trading AMZN on the short side you have to remember they do have this
amazing KINDLE thing ma jiggy
price $259 http://www.amazon.com/Kindle-Wireless-Reading-Display-Generation/dp/B0015T963C/ref=dp_ob_title_def
tylenol for the headaches it gives you $80 per year
glasses you need after using it for 2 years $399
friends you make showing off your new toy….. PRICELESS
i actually bought one a month back, and love the darn thing. I’ve been reading more than i normally would and buying more books than i normally would. always loved to read…it’s like having crack IV’d into your arm…
Interesting I bought the Sony reader …. liked the open format more
Love it too … the touch feature and being able to scribble notes is amazing …
i was thinking about a sony reader too. but i liked the constant international internet connection that comes free with the kindle.
wish it had a light and a touchscreen though. have to sacrifice one or the other=P
maybe if i book a profit on this trade i’ll pick one of those bad boys up… they look pretty slick
Feel stupid for even recommending a stock when a dart board could produce index beating returns.
Manas Pete Video on Albanian Heavy Oil Project.
My other albanian oil is Bankers BNK.TO and is now a ten bagger and growing.
http://www.youtube.com/watch?v=HNrvhhsNzkE
———————– WGO ——————– if you did not get a chance to look at this one. look now at the DAILY
if only my broker was faster at finding me short shares. but im still happy.
————– X ————- highly reliable pattern on the daily playing out.
the RSI pattern combined with the CANDLE PATTERN (bearish engulfing)
is profitable thus far. im holding the position overnight.
1000 QID @ 17.10
I’m still patiently (but nervously) holding everything else.
morris……….. who isnt nervous in this BS market. its like they can just
turn a dial AH and reset prices to whatever they want. are shares even
trading hands outside of market hours? LMAO
ive taken up beer drinking after feeling bad for all the breweries
just read their sales reports. they need us traders to get drunk.
Well, I have done my normal move of closing winning positions and flipping to the other side way too early. I still feel pretty confident that most (if not all) of my positions will pay off in the very near future. I have plenty of cash left in my account so I don’t feel the need to close anything just yet. Best of luck to all!
I learn it’s not worth fighting with tend and govt
just keep trading light. that is what im doing. this will all come crumbling done some time. maybe not for another year. im only going heavy in select spots and taking half off the same day.
GET READY FOR THE LATE DAY ———— RAMP UP ATTEMPT
=============== COUNT THE 30 MINUTE SPX DOJI GAME ============= I SEE 6 = 3HOURS
which candle does not look like the others?? the big fat red one at 12:00 ……. id like to see the same
for the last 30 MINUTE candle of the day.
Here comes the buy program,I think i am going to buy TZA right at the close just in case the rumor about the discount rate is true.Then if we rally into OPEX i can sell or maybe hold overnight with all the Greece stuff back in the news again…
MY GAME PLAN ==== PUT BOTH HANDS ON MY HEAD AND YELL …. “WHAT HAVE I DONE!!” as the futures are ramped up after hours and we hit WOOS 1173 target in the AM … im happy with my picks so far.
we forget the NEW RULE is NO RED DAYS FOR THE SPY ever again.
sold 200 TLT @ 91.10 (up 1.22% from my entry @ 90.00); +$220.00
Thanks for that trade Morris… Sorry about the VXX…. Market just wants to push higher….
Oh man, it’s no problem at all. We are all responsible for our own trades. To be honest, I felt like it was a good trade and I still feel confident enough in it to keep holding it for now. This market will correct soon!
I still think TLT could make a nice move in the future but I’m trying to maintain a certain level of cash in my account right now and I think the QID position I just bought has a better chance of generating a decent return in the near future. So, in with QID and out with TLT.
—————- 1161 ——————– GOOD CALL WOO!
thanks haha. now the big question is….1157 tomorrow…or 1173.
——————- SLM —————
http://www.zerohedge.com/article/unusual-story-bloomberg-about-sallie-mae-usual-dose-non-sensical-optimism
IM ONE that shorted this stock and the quickly covered because i could not
made me laugh.
make sense of thier business model. well read the above
This market looks tired. It should be after the run it has had.
It can rest all it wants at dow 14,540.
Next week you’ll hear the touts saying down and stocks is the only way to protect against
ben’s money printing.
Selling short SRS QID SDS TZA
——————- AMZN —————— TRADING VOLUME……………. you can make a clean trendline from the GREEN CANDLE late JANUARY to today. this does not help anyone choose direction. are SELLERS waiting hoping for higher prices
or are buyers refusing to buy at this price. this STOCK is in NEUTRAL because the volume trend is horrid. in a week the stock should be trading 1,000,000 / day.
PRICE TREND ….. pressing right back at resistance ….. hitting this line twice in 5 days is not bearish.
IM NOT GOING LONG……………… as the breakout point from the wedge down at $125 is so WEAK looking.
im simply going to sit out of AMZN for now.
ITS GOING TO BE A LAST MINUTE DECISION…..
KEPT…………………. just one contract. see if it pushes above
this resistance line tomorrow. SOLD 5 CONTRACTS in past 2 days. too uncertain of a chart imo.
Had to sell something short. Sold SDS SRS QID TZA
We have lift off, not rally, full lift off !!!
Nat gas beaten today, my BKX.TO and manas pete both up 11% PMI.V
We will now have +47 dow points each day, every day, forever. I have lost my ass trying to pick tops, spins
spirals and corrections, join the dark side, stop resisting. Be happy.
what if tomorrow the market drops 20+ points. lol.
Jim did you really sell those inverse? Sitting on hands (with my drv) for now.
Had to. Stops in, i just wish i had done it a year ago with srs at 300 and not $3.
Could not get borrow on DRV or that would be in short shot mode too.
————- DOW 10,777 —————— as i posted earlier today. think it was DANERIC that expected this.
S&P not up today ????
Barney Frank to lead congressional investigation to determine why.
the SPY …………. dat looks like a topping candle. the first red candle in 15 TRADING DAYS
WE SHOULD HAVE ALL ………… bought BA calls when
CNBS posted the STOCKS TO DROP LIST including BA
and we should have all had the balls to by PALM SUB $5.50 knowing the game
is “SQUEEZE THE SHORTS” as it will gap up tomorrow?
————– PALM ————- shoulda coulda woulda KEPT MY PUTS
its all gambling in this case and i made money trading this while it still lived. MUST MOVE ON 
0—0—
OVERBOUGHT OVERSOLD….. OVERSMOLD …. IT DONT MATTER BEBE
http://data.cnbc.com/quotes/palm OFF 14% AH
PetroManas up when natgas and energy tanking, this is going places!!!
Petromanas Energy Inc 3:59:57 PM EDT
Symbol T Bid Ask Last Change Volume FSI
+ 0.48 0.485 0.485 0.05 (11.49%) 1,332,150
We had a triangle forming all day – we broke out of it and confirmed the move – upside tgt is 117.5, downside 116.2 ….
what time frame?
10 min timeframe – last 3 days ….
PUG’s EOD update:
Nothing was resolve today on whether or not this is wave 4-v-(5) with 5-v up to come or part of wave 2-[5] down. Still need to watch 1152/53 ES Futures overnight and 1157 (cash) tomorrow.
At TFNN.com
Chapman, the guy that has kept me solvent for past 7 months by calling tops and restarts. . . .
calls this a continuation pattern to an instant restart from leg F/G and 12% higher over 30 days
from here.
My other advisor that has been short, wrong and more stubbornly so the higher we get,
Jim Shepard (i call him the german shepard now, will hit him with a rolled up newspaper if i
ever meet him, lol) sent something. Had my wife read it and asked her just to say
nothing if he was negative. . .
MY POINT BEING ——
A client of mine went short the OEX in August ’87. By November he was ahead ~$850,000.
(anyone remember Jos.Grenville or PQWall?)
2 years later he had $10,000 left in his a/c and closed it. He kept shorting, kept thinking that
the low volume = false rally, pending crash. The high implied vol ate his put cash and left
him mad and loading for bear.
True story. He could have jumped into Mark or Swissy call options and made (smart money
was) but he refused to see that markets don’t dive to zero.
HE FOUGHT THE FED AND THE FED WON.
Jim – can you explain the restarts and what timeframe etc ?
A B C up trends can restart and form continuation channels in what he has modified as his
Chapman Wave. Intraday is not considered nor post market, he bases much of his work on
weekly closes (smart) as it filters noise and prevents costly mistakes.
Email me, gladly send you the link. Has saved me millions and the SOB is 90% right, for now.
He also singles out “Character Stocks” or stocks that behave well, not robbing rogues. Not much for
short sale recommendations from him, too dangerous in his view.
His Character stocks include TKO.TO Taseko mines at 1.45 topped at 6.45 AMZN EGO Eldorado Gold
his motto is profit without risk or insomnia.
BTW, as soon as he get uber popular, jump.
I remember RICH owned tKO.TO at $1.80 sorry
I just heard the perma bull Cramer say to sell stocks and that a double dip is back on the table.
He was on Mad Money talking about it saying that we would have a big correction due to the passage of Obama care…The he was the featured guest on Kudlow and it was quite sobering listening to him..The last time he capitulated like this was back before the crash…
I hate when they trash the canadian, british or french health systems. Get sick in france and a doctor arrives
at your bedside by car (not ambulance unless he deems so) within 20 minutes, provides you with way cool
drugs. . . for free.
In my small canadian village we have a local doctor that comes in for coffee because he knows people don’t
keep appointments.
When Cramer yelled sell in March 09 the wise bought. I think he was put up to lying the gov’t lie and creating
the squeeze that resulted.
I got my teeth done in Paris for less than $60..
In Canada, I pay $100-$500 minimum (w/o incl. insurance discount).
the only problem about canadians health system is the waiting time for clinics, and the waiting time for operations..etc..
CTIC –
100% OTM call options are giving you a 10% ROI in a 1month timeframe.
FDA approval is 1 week after April OPEX.
Anyone taking a stab at selling calls?
You can easily load up on 100-500 contracts short since it’s a $1 stock.
BETA = 7
Very risky play, but 52-week high is $2.20.. even the 150% otm calls are selling for 7-8% ROI ..
The fast money guys said someone made a huge longside bet via stock and options at the $1.50 level and
sold the $1Put. Options number was way high, millions i believe in one block.
Would they have to report that as open interest?
It was the older brother Jon Ajarian. Could be hedging but he made it sound like someone knows.
Check CNBC for his video in fast money. I just can’t see why someone would buy an option on a penny stock?
Check out the likes of DNDN, SOMX.
High risk and very high reward if your right on these pharmaceutical stocks that gap up a zillion percent if the FDA approves of their drug.
–DNDN–
Shorted this stock at $36.50 and again at $35.90 after seeing it was going down when the SPY was going up.
In the last 15 minutes of trading I saw the stock increase 30 cents, so I went ahead and shorted another 500 shares.
Fully lodaded short on this POS stock. I’ve traded enough, in a prop chair, to read the tape. This stock is screaming sell. I want to load up 4000-5000 shares short total.
Look at the yahoo message boards, it’s about 25 bulls to 1 bear. The stock is within 3% of the 52-week high. Daily RSI > 70…
You know what happens with conditions like these? A nice 5-10% correction. Well I’m short… any money I make will be used to buy more puts…
Gotta trust your gut sometimes.
i have a couple JAN 2011 puts and the suckas have increased in value despite the share price going up
clearly some demand for long term puts. that may just be a sign
2000 shares VXX at EOD. I’ll play with you bears for a day.
I am going to make a gutsy call here to test my megaphone theory. We will not go down further than 10710 (meaning at the close of day) and I actually think we will close between 10710-10725. Monday we will go up. If this is not the case then it is a bear case confirmation at least for me. I am still camping on the side of 11050 first real resistance and 11650-11700 top for the year.