Idan
3:55pm
I got stopped out 30 minutes ago with 0.2-0.3% profit on my SPY short trade.
2:07pm
SPY is breaking down the H&S mentioned earlier on the 5 minute… went short at $121.65 with a 35 cent trailing stop, and i’m leaving for a few, but will be back to update on positions!
1:42pm
Our old friend FAZ is going to be staging a breakout very soon on the 60 minute level. Take a look at the descending triangle (usually bullish). A break of blue resistance would be big for FAZ and would be worth an intraday trade:
1:36pm
Most stocks are reaching their 61.8% retracement, and I think this means that we could see a correction very soon. Here’s SBUX (Starbucks) on the weekly, worth a short, no?
1:24pm
Is target (TGT) a little ahead of itself? It’s definitely overbought on the weekly and daily candles and we are hitting some strong resistance right now, might be worth to look at a swing short because the stop would be relatively tight. Walmart looks like it is forming a bear flag too, so maybe this will coincide with a correction lower for the retail sector in general.
1:13pm
Here’s the 60 minute FSLR showing that we have a clear inverse H&S, but because earnings are coming up, I would not necessarily recommend going long this stock with a lot of money unless you want to take the risk. I do have a few hundred shares but that’s because I bought it at 124 and again at 132+,
12:50pm
FSLR reports eranings in 2 days, I have taken some profits but will leave the rest on, as long as it doesn’t break my $127.50 mark.
12:46pm
SPY forming a potential H&S on the intra-day 5 minutes, with a neckline right at around 121.65. Interesting to see if this will play out.
12:40pm
What is everyone trading today?
12:35pm
People trading CSCO long, i would take a close look at it right now. It’s about to hit some resistance right at $27.70, which also coincides really nicely with a fib projection. If you are taking a long, make sure you have a stop, if you are considering a short – I would be shorting around the 27.70 level, with a stop of around 1% above it.
12:33pm
The $VIX is up despite a flat market. I think that’s because of fear related to the financials and GS news.
12:25pm
JRCC is one of the stocks the hedge fund went long at $17.30 on friday. You can subscribe to these trades by signing up for Alerts & Analytics but for those who don’t have it, i would wait until a break of the inverse H&S neckline above 18.00 to buy it. I still expect some upside if it manages to do so:
12:21pm
Are you a believer in the GOOG story? Some of my traders sure are, and they are buying GOOG at 532.74 today as it is hitting the 200 SMA daily, some are going for an investment and putting a stop at 515, others are going for shorter term swing trades with a stop at 522. Here’s the daily:
12:19pm
Here’s a stock i’ve been looking at closely as it slowly completes a H&S formation on my 60 minute charts. AMX (American Express) has a H&S with a neckline at 50.20 approximately, I don’t want to anticipate but this is another financial related stock that is forming a topping formation:
12:13pm
GS is in big trouble according to it’s charts. Today it finally broke the strongest ascending level of resistance it had. Now a break of 147.80 (the last low) will confirm a double top formation and an end to the rallying for GS and a start of a bearish move:
11:50am
The next support level on JPM if $44 breaks will be the prior descending resistnace (now support), take a look at my daily chart of JPM:
11:45am
JPM found resistance at $45. Like i said in my video, don’t anticipate a rally above $45, wait and play it that way. Now we have to see if JPM cna breakdown the $44 level, if it does it’s worth shorting.
11:41am
First of all, here’s an update: I got stopped out of GOOG at 543.20, with 0.03% gain. Got stopped out of GS right at the open practically flat. Still holding on to FSLR long and UNG long (did not get stopped out even though my stop was at 7.44.
Daniel Shporin
10:45AM
I’m out of oil and done for the day. Some days, things just don’t follow through and you need to limit risk as quickly as possible.
10:20AM
Forget long oil, I just went short $84.53. There is clear weakness right now.
***Covered 1/2 to reduce leverage as it’s not going anywhere.
10:00AM
I covered 1/2 for a loss to reduce the leverage. I’m not a fan of this kind of activity after breaking the day’s high.
***Stopped out on the entire position now.
9:50AM
Just got filled nat gas at 4.288. I’m taking 1/2 profits at 4.308, and letting the rest ride with a stop at 4.252.
9:14AM
Long oil above today’s high of $85.38 (overnight high was $85.63.)
Long nat gas above today’s high of 4.293.
My orders are in for now, I’ll let you guys know if I change anything or if/when I get filled.
9:02AM
Good morning and happy monday! I’m looking to go long both oil and nat gas, on a day trade and even a swing trade basis. I don’t enter any swing trades on monday, so all trades placed today will be day trades only.
Idan
4:00am
Futures slightly up right now, very tough to tell where tomorrow is going to go. My guess it is news, and news only that will sway the market one way or another. Since we are light on news, it’s probably going to be the goldman story.
12:12am
Watch Idan’s Video in preparation for April 26, 2010!
No significant announcement today other than the Goldman and financial regulation heating up in the media.
4-Week Bill Announcement 11:00 AM ET
3-Month Bill Auction 11:30 AM ET
6-Month Bill Auction 11:30 AM ET
5-Yr TIPS Auction 1:00 PM ET
yeah Goldman is going to move things a lot.
Via Preview from Barron’s
Monday:
Senate takes up financial reform
Citigroup addresses a financial reform in NYC
Blackrock, Boston Scientific and CAT reports earnings
Milken institute global conference in LA
See you guys later, driving my son to school
Pending on trading day–Evaluating buying calls for UPS, MMM and CX, first two for earnings play
B4 jumping in UPS/CX call, I’m waiting for the VIX to be in the red…
Also eyeing JPM, the MAs have not cross under yet, intraday price 44.39 below 13 EMA and 34 EMA…45.39, 44.69…
Got in JPM Dec call 45 strike…wish I got in at 44.01 or so…pd 25 bucks more, oh, well…let’s see if IDan’s inverse head and shoulder plays out
I would not have anticipated things… like i said in my video (ESPECIALLY if you’re doing options), you gotta wait for a break first.
FBC- setting stops for remaining shares at .81.
out of this for now. will look to go long again if it breaks HOD @ .85 or it closes the gap @.74
still holding the ERY, SCO, and SDS that I bought on Friday afternoon. will be out most of the day. best of luck to all!
USO back under the 20 SMA on the daily
I am still short via SPY May Put Spreads from last Friday.
took again a small gold short position today in Futures tight stop.
This spike up I placed 70% shorts now stops at cost since market give back little bit
bought 1000 SCO @ 11.68 (i now have 2000 shares at an avg of 11.65)
my first target for SCO is the 11.95 area
Exitted out of HST…last Friday’s red volume bar with small red body spooked me even though the avgs are intact…
BLK-took a shot @192.75. Will average down if it drops further within the next few days. Long term hold for me.
WFT- taking half off of Aug. 20 C. Don’t think it can blast through 200 SMA on the 1st shot.
but if it does, then i will look to go long using stock.
Bought more ERY @ $8.21, bringing my average to $8.27. GL.
————— JTX —————- Inm @ $1.83 price target is $2.15
in YRCW @ .76
Out half @ .80
Did Sam enjoy my latest ITYS???? Bailed out of DEAR @5.28 and made massive, huge, giant sized gains.
Used profits to top up more shares of LION KAT.TO and MAR>TO VG JMBA
Monday is animal days here, buying cats, lions, mars, etc. This AM got filled on what is going to run next
in my unhumble opinion (since always right and able to ITYS)
Bought RAME@ 1.825 added LNG.V @.34 Order in to buy SAC.V @.485
USE STOPS OF 10%. THE MOVES IN THE SMALL SHITTY STUFF IS INDICATIVE OF THE END OF A RALLY
AND REVERSAL.
glta AND ITYS
way to go Jimbo, got out Friday per 30% profit….who would have thougth another 23% increase…too parabolic though in hindsight c/b consolidating instead of falling huge as it is already a low price stock…
FTBK is ridiculous.. The second b/o @ 10:35 was certainly a missed oportunity..
It was triggered on one of my prop scans of heavy shorted junior financials….and like an idiot
i ignored it.
CASB was generated and ignored on same scan, has a chance of doubling from current levels.
not earnings related. buy out rumor?
MY HERO is on tfnn.com right now, bas chapman, best technician i have seen.
WFT- totally missed out on the intraday break of 200 SMA
Breakdown in COCO on charts, shorting @17.24 without stops, this one volatile and MM go stops hunting.
Not using options, puts too expensive.
This could drop to 14.125
I see the 13 EMA heading down, another down day like today, for sure, it’s a short…August Puts 17.50 strike at 1.75-1.85 may not be so bad IV is 43+%, kind of high going out 3 months…
intraday price is below the 13 and 34 EMAs…tempted to just buy a put…thanks Jimbho for the suggestion…well see how it plays out today and/or tomorrow…
Jimbho
What’s the name of SAC.V can’t seem to find it
SOUTH AMERICAN SILVER ON VANCOUVER
Originally screamed about by me at .32
Spoke to the CEO a few months ago and he made a believer of me, he is a geologist and brought in
major mines for majors before buying this castoff prospect.
HUGE DRILL RESULTS FOR PLAT AND PALLADIUM, I AM UBER BULLISH ON THE PGMS AND
SLIVER. remember, ITYS….
I bought some PAL at 4.90 week ago …so do you have any suggestions ?
thanks for the list of garbage banks…made some quick $ on them still have some crbc and KFS
Hey guys just came back – will be posting more in the next few days after I catch up at work
Hope your aunt is ok, hope you were a comfort to her.
Watching PNX ,, over 3.67, might get going..
FTV Noon Report http://tmogul.com/tweet/qjmZN
Interesting footnote to my comments of PGM’s shooting higher on demand and playing PAL SAC.V MAR.TO
ANO SWC ELR.TO
Back in April 09 i bought some palladium bullion for my retirement a/c at the bank of nova scotia in toronto.
The bank just callled and offered a lease rate of 2.44% for use of my palladium bars for one year and free
safekeeping (many hundreds of thousands of dollars involved).
FWIW the last time this same bank borrowed bullion from me was with gold at $350 just before it shot up
by double and silver at $8 just before it rose.
The 100/oz bars we took delivery of just over a year ago were marked in cyrillic “Moscow 1987″ and dumped
on the market at 188/oz back when the world looked to be ending.
So are you thinking that palladium is about to shoot up?
I see 1200 in the very near term, catalytic demand and pm status.
Thanks
stepping back in for a minute. my SCO position is looking pretty good so far; just made new highs for the day. USO (which is what I follow when making trades in UCO/SCO) is now under the 20 SMA and 13 EMA on the daily. i might consider closing some or all of the SCO position if USO finds some support around the 40.25 area.
STSA popping good chance to double up from here. In at 2.02
BEE buzzing
I AM LONG BEEs…..italian honey that is. Bought 5 hives at auction for my orchard a few weeks ago,
wife very allergic….may soon be on quest to find #6. Need to speak to zee and borrow his mom’s
bee keeping outfit. lol.
in BPOP @ 4.01
Not even gonna bother with these mini pops.. targets 4.25 & 4.50,, otherwise stop is at b/e.
On 5 min, nice volumes…I still have this one, now only 50 shares…
short the ES future and just closed a DX future long
interesting, definitely looks like we got that H&S in place.
I really only trade the futures now. Use to trade equities alot, but really concentrate on the ES, DX, NQ, TF and GC
Futures give you a different picture, definitely. They give you the mindset of what happend to traders before the market opened so that you dont just have a gap. But as a future trader you have to realize that market traders want to see things happen during floor trading and that can shift your perception of what futures end up doing.
very true…I trade segments in the futures and I am always flat after those segments. I trade the asia open, the Europe open then the US cash open & close. I often find that the futures or equities can be arb’d by the action of the market in Europe.
txchristopher…if you show up here…send me an email…
jb
———– JTX ———- really taking off now up to $1.90
FRENCH finance minister Leguarde to address the NYSE this afternoon!!!!
I encourage all to listen to this intelligent and perfectly spoken stateswoman.
Is he friends with Fab from the GS debacle? Just kidding…thanks…
I meant she…
I think SMH will move up more per 5 min chart…nice green volume bar
Careful with GOOG. If it doesn’t hold the $530 area, I think it drops like a rock to $500. Much longer term channel support there on the monthly, plus that would be the shoulder line of a much larger/longer term IHS.
good luck.
Thanks…let’s see where it falls, below the 233 EMA, then yes 500 is most likely…watching…
SCO in the 12.80′s now. It could encounter some trouble breaking through 12.90 but if it does get through, it should run a bit.
Hey Morris,
USO down 1.5%, ERX is flat. The price action of ERY doesn’t look right. I am thinking to close this position asap to limit the risk. What do you think?
I follow XLE when looking at the performance of the ERX/ERY pair. I’m still holding for now but I understand why you are nervous. I hate holding these 3X bear funds in a bullish market.
Thanks Morris.
Just sold all ERY shares @ $8.28. GL.
Haha, just checked my account, my sell order for ERY didn’t get filled. TD Waterhouse was down for the last one hour, I thought it was filled when my target got hit @ $8.28.
Oops, I meant 11.80′s.
TSFG hitting 1 again…
Cramer tout pick PVTB imploding on higher loss provisions.
I don’t listen to Cramer anymore…I heard traders purposely short his pick (Mad Money) the day after.
Too many playing this game now….but what worked for me back 2 years ago was to subscribe
to his advance notice system of what he would announce on air and buy it at 3PM and sell to the
shills in the a/h market at an average 5% markup.
Still works, professional traders set the junior desks to it now.
Cramer would advise at 2PM as to what he was pimping that night. 30 a month was cheap.
anyone shorting aapl at these levels?
I would like to see AAPL’s daily candle engulf the prior candle before i go short.
who is reporting earnings tonight?
BSX, JEC, TXN, will watch Solar Wind as it might be interesting. Not doing anything with these…missed out on MMM, moved up already for me…shucks
thanks JEC is interesting, its falling apart this afternoon
T/A indicators on daily pointing down, RSI(13) and MACD, but so far its MAs intact on uptrend, on 5 min, a kind of huge red volume bar…I rather buy puts if I was playing…though they can fool you…down today and then a blast up following day
I’m watching TRV for buying a put option…down again today
RIMM..presently its 13 EMA a penny below its 34
What a nice move up from its LOD
STSA droping..
FBC & TONE not looking too bad.. Anyone still playing the regionals?
Bought FBC again @ .825. Could test today’s low tomorrow and if it does, i’ll probably buy more.
WYNN is over 92.. still short?
took very few at 92.14 since it’s 2 min to close.
SCO going to $12.4
Closed out junk trades and even sold my long term core hold of LION and CNO.
Hold PGM’s of MAR and KAT.TO but i think the financial rally is done for a while, overdone is more
accurate.
holding all positions overnight (for better or worse)
Same here.. I got a little short happy today… going to be one of those unhealthy nights.
Morris, do u have any target for SCO?
Yes, my initial target is 11.90 and my secondary target is 12.15.
Going to flat cash for while. Have stuff to do around the farm and orchards don’t wait.
To all those praising me for the crap bank picks, watch out, that is indicative of a bull run end and huge
down move is likely next. I am short a few stocks but nothing crazy. Very minor.
SNV looks to want to crash as do several patterns on leaders stocks.
Troll alert
Financial Regulation Bill didn’t pass.
I’m mixed if this means the market will rally tomorrow since I kept reading market fell today because of worries if the bill may pass.
BUT, since this means more media coverage about wrong-doings like Goldman Sachs will come out to sway votes, this can’t be good for the market.
Can’t find much about this Bill. I read something about regulating the derivatives market. Is this danger to our FAS/FAZ SSO/SDS GLD/SLV?
I told all of you last week that market will get to 1217, sure enough market did exactly what i told you. Then I told you that on monday market will go to 1120 and then it fall. I told you i will load a HUGE putsat 1120. sure enough market did exactly as i told you again. I booked a HUGE profit on my SPY puts as I told you. While i still holding my longs on ERX and GLD I was able to booked a HUGE profit by going short SPY exactly at level io told you. I sold my puts but still holding my ERX and GLD. I have plan to load again a HUGE SPY puts once s&p reach 1122. Usually at top big boys move 1 or 2 point above previous high and then they dump thier shares. so we stick to big boys as always. GO BIG BOYS we will follow you.
SWBB and GOEWB
congrats on your HUGE profits