Daniel Shporin
4:47PM
I just closed the rest of my euro position at 3.184. There is a good chance I’ll re-enter this position later tonight or tomorrow.
Idan
3:41pm
SPY joins in to the H&S formation party and breaks down here, take a look at the 10 minute! This looks very promising for a reversal of a trend and a start of a correction”
3:27pm
Disclosure: I went short AMX at $50.54 but more importantly this stock might be due for some strong selling if it breaks the H&S formation, at 50.00-50.30 neckline.
2:12pm
Is ford done with it’s upside? As we can see on the 60 minute over the last 2 weeks it has a very nice DOUBLE TOP formation at my target level of $14.50 approx. But more importantly over the last 2-3 days it has a H&S formation with a neckline at $13.30, will it break down?
1:34pm
JPM falls apart (like mentioned in the video) as it breaks $44, and finds support at the 60 minute 200 SMA, which is actually below my red line of support, but then bounces back just to end the candle around the red line. Here’s the 60 min:
1:28pm
The AMX H&S formation that i said would probably complete itself soon, well here you go, take a look on the 60 minute and a shorting opportunity will present itself once the red line is broken:
1:23pm
Well that was a very nice little prediction i had on my video yesterday. All my shorts are doing incredibly well and my longs stopped out with small profits.
Daniel Shporin
11:55AM
Covered 1/2 my euro at 1.3252 as I said I would. I’m curious to see how gold will play out, regardless of the Greece situation it still looks bullish for the week, but I learned that if you feel completely uncomfortable in a position after a news announcement, just get out.
Euro is doing splendid here. 1.3233, big volume, 30ticks away from last week’s low of 1.3202. I’ll be holding overnight, this trade is working out perfectly.
VIX above 20 after being up 17.8% at the time of this post, all major indices down over 1%, oil down 2.4%, overall a great volatile trading day.
11:27AM
I just covered Gold for a 3tick gain. It seems Greece has been downgraded. After being down all morning on the euro, I’m now sitting tight on a nice profit. I also covered nat gas for a good gain, 40cents on a 1 lot. I’ll cover 1/2 my euro for 40ticks at 1.3252.
11:07AM
I covered 1/2 nat gas at 4.363. Letting the rest ride for a day trade.
I also got triggered long in Gold at 1160.5. I’m taking 1/2 off at 1165.5 and letting the rest ride overnight.
Still sitting tight euro. I have a stop in for 1/2 at 1.3345 and the rest at 1.3416. This is a swing trade as well.
10:57AM
I just got long nat gas on the break of the day’s high. Let’s see if we gain some momentum this time.
10:05AM
I covered my nat gas position. I may re-enter, but we hit the 4.34 resistance and could not break it.
9:26AM
I am long Nat gas from 4.317. I’m looking to hold this position for the next hour or so, as we are approaching a resistance area that I think we’ll break.
9:00AM
I just went short the euro at 1.3292. I’ll take 1/2 off today, at around 1.3250, and let the rest ride into the week. I’d like to see Friday’s low broken by tomorrow.
Idan Koren
3:05am
A look into SPY, JPM, GS, BAC, WFC and GOOG
12:22am
BAC like many financials have topping formations. It seems like the financials are in for a correction, and while the SPY is hitting on some resistance, it has not yet pulled back significantly. Since i truly believe financials will lead the overall market, the SPY might be in for a correction too.
Here’s a 60 minute H&S formation of BAC, a break of the neckline is bearish and should probably be shorted:
wow, i was down over 1600 on my SSO position while i was out! i’m only down about 500 now after the big comeback. really bad trade management today on both long and short positions.
you are not alone… i took a big hit on my long swings… all got stop out
I wouldn’t worry about being down on a long position in this market… At least VXX is on fire… Don’t know if you are still holding that or not….
Anybody doing any swing trades for this week they want to share?
Junior mid cap gold producers set to explode up .. . . . as are PGM producers,
PGM’s are getting beat up today, nearing my buy triggers. The new short protection is not
puts or double inverse, its golds.
work as weekly trades and longer term holds. This stage of debt concern will drive gold up into the
1,822 area. Juniors will outperform the seniors by 5 fold in this stage of the panic to hard assets.
IMUO (my unhumbled opine, lol) golds will now go parabolic as did energy in january 10- to apr10.
Anyone interested in a list of my sure fire gold juniors, email at jimbho1@gmail.com
include “Zee is Gay” in title for bonus ‘package’.
FWIW the bank juniors i sent netted members here billions in profits, lol.
FAS is crossing down on my 40 MA, it hasn’t done that since 1/21/10, and we all know what happened then. I think it’s pretty bearish. I have May 105 puts, I think it should be down for a few days…if not longer.
I feel sorry for anyone who is in FAS… just like this last year I held to FAZ starting from 110 and got out at $10 (-100)
DRN’s in the same boat.
We did not break 11240 and we came down hard with news supporting this event. This looks bad and although it has been tough and did hang on to my two shorts: VXX, and TZA. I am long FTK. This market should go down to 10700s but I think tomorrow will be a good opportunity to short and help my cause. FED reports interest rates and that day has typically been green at least until 2:15. My current cost basis is as follows:
VXX 19.75 + right now
TZA 6.25 underwater
FTK 1.77 + Right now.
I’m looking to see what remains strong during this sell off.
If the regionals weren’t all falling apart PCBC above today’s high & PRWT on the support bounce of 1.07 seemed like playable for a bounce but the sector might have had it’s hey day already..
PWAV daily chart seems ready for a b/o (tried but need another push,, otherwise..)
SNSS above today’s high as well..
Don’t wanna go long in anything if this turns a to be a big turning point to the down side..
If we end up selling off more & close under the 20 ma on the daily,, I will swing shorts FAZ & TZA. We have never closed under the 20 ma and gone up immediately afterwards..
If u r bullish on gold.. DGP looks great
Filled / bought calls GLD JUNE 120 @1.15 155 CONTRACTS OF 380 INTENED TO BUY.
in SNSS @ 1.14
risking .02.. Have to step out for a while.. GL
wow risky risky
Supposed to be a day off and ended up being busier than ever.
Reason for above: Market corrects due to dam greeks, gold goes ballistic, market recovers and continues
rally, gold rally resumes. AII numbers out, 90% of retail investors expect gold to correct and see it overpriced.
Basically by the EOD market will only be down a little bit. It is nothing but smoke and mirrors as they continue to take your money.
This is a major swing day. In april 27 ’87 the market crashed under very similar circs. Gold rallied,
this will fall big for at least 2 days. Not a bear trap–yet.
picked up 100 GS @ 154.00 a little while ago
This one is too much trouble for me to pick up.. i actually see a nice short trade at 156.
I’ll keep a close watch on it.
Pick up DGP
Actually it is a riot how GS has a major fraud allegation going on and it one of the highest percentage gainers in the market. They laughing all the way at all the fools they are ripping off.
Isn’t sad how the human race has come to term with “the greater the power, the greater the responsibility”
Rut ro something really broke!! SRS is flying off the board…………finally.
Yeah, this definitely looks the start of a major correction.
Chart gold idan, do you see the projection up to 2200 i see?
I see one going to 1250, i don’t see 2200.. that’s a fib projection that does not necessarily have to play out.
Lord have mercy on AIG they taking it in the arse bigtime…….TIMBER!!!!!!!!!!!!! Game over checkmate!
Fast cut and paste of Traders Almanac item for this date in ’87 which the market closely traces….
From April 27 to May 11, 1987, the market made its first leg of the final rally to the 1987 high. Resistance — and the potential rally top — was calculated to be in the 2704 area. The actual intraday high was 2746.65.
The weekly chart (bottom) shows the nine-year secular bull market and how the first leg — from April 3, 1978, to May 1, 1980 — forecast a resistance level of 2753 at 6.853 times the initial first leg added to the low.
The first move of the correction that included the October crash was from August to September 1987. This first move signaled several support levels in late October 1987 that were broken two market days before Oct. 19.
Looking ahead, you can compare the current market to the rise of 1987. As of mid-May, the cluster of first-move and first-leg targets was around 2545. Major resistance should be near 2550 in the last part of June 1989.
The character of the subsequent bear market should be identified by the first move and first leg to the downside. However, if the 2550 area can be cleared, the next resistance level would be around 2740. [
Gold breaking out.
ITYS, lol.
See my post above, small gold producers will explode upward here.
wow! 1,183.47!
VIX up 30% for only 13th time in 20 years
I see Gold is the only safe place.
ITYS. MM want a 2 day crash into fed announce’t to prevent rate increase or mention of it,
that bald lying scumbag demonic bernanke would announce the extension of QE if the market
fell 5% before his ann’t.
Imagine gold if QE is the new normal?
1183.68—THE LOW ON 4/19
Well thanks to another rating agency the Greek debt has been lowered to “junk” status so that is why the market tanked.
What a great day for allll the short recommendations Idan put up yesterday. I just cringe I didn’t buy put options. I promised I would go conservative after getting slaughtered for the last year.. so I only gained 2-3% today
Now I’m holding FSLR… the earnings is making me nervous and would it even matter if it’s good earnings with this market? Time will tell.
FSLR could fall all the way to 126.80, but I think we will find very strong support there. I’d be buying more there.
BS end of day analisys..
http://www.youtube.com/watch?v=prHSJsdi0BY&playnext_from=TL&videos=tNgKhAXxk5k
My video http://www.youtube.com/watch?v=KwcJQ7y4_RM
Its down 3% on a bad news 4 oil day. Amazing bullish as i see it? High beta usually
drop more than markets, this did not. Besides, i sold all longs yesterday at close and
went long junior golds as posted.
Kinda like Zee’s parents finding out he’s gay, a suicide bomber and flunking out
in high school on the same day…. mixed blessings.
Jimbho, any thoughts on HL? Just came in, may have missed post.
Heckla not one of my faves, mature, enviro liabilities and very limited growth prospects. That
and it did a reverse split which nearly always equals failure….
I try to find the next El Dorado or GoldCorp on value rather than bet on an expiring miner? I am
not much of a trader as zee will attest, i buy and hold until price shows me wrong, my average
hold is in months not hours. Get too freaked out by every little blip and dip, gold is a long term
buy, not a trade (after i load with calls on GLD, lol)
LSG.TO -Lakeshore Gold which i have made people sick with here just announced drill results after
the close and increased reserves proven and prob.
BTO.TO-
BGM.V -Bourgainville Gold
Detour Gold
US Gold
New Gold
Rainey River RR.TO
III.TO
CSI.TO
Thanks–looking at long term.
unfourtunatly i was off today and did not get a chance to make some profit, as i said i from last wek i am still long GLD and ERX and I short s&P. If you looked at some EW blogs like yesterday “PUG Stock Market Analysis” you could have seen that they all were projecting a rally, so as I always told you going opposite EW blogs is a money maker system in most of times. So here you go again. It is intersting that some of these blog start charging people for thier charts. When they say somthing right by chance they say ok now give me your money to give you my 15min chart, or they say oh yeah you see i was right, now imagain how much money you could have made. But when they make mistake like today and they cause people lose a lot of meony, they just simply chnage thier counting and they say “oh yeah these wave 3 instead of 2, nobig deal.
SWBB and GOEWB
Samosa, you hate peep that change their minds and misstate results? You hate guys that say i
told you so even thought they never said jack shit?
Glad you feel that way, now you know how some feel of you.
good stuff Jhimbo.
what does a common investor/trader want? to make money. Usually I like to trade popular and optionablel stocks including indexes. the confidence of making money on popular stocks is different from trading with companies we have not heard before. I know you do lot of analysis before bringing them as recommendations. we should be able to trade successfully with indexes and market leaders. I follow daily comments for Idan and Woo and Sam. Sam – a bull in china shop to take you to the next level ( fully dressed or…… ) and Idan and Woo know what they say to preserve the capital. I have subscribed to others in past and did like them for giving a lot of recommendations. The simple question I have is …Can we make money on trading with indexes and popular stocks?
You can make money trading anything, i started with houses and farms, moved to currencies and
stocks.
Next i am seriously thinking of just doing gold, very stable and predictable.
And offset the downside with a hedge of lotto tickets like zee suggests on his uber bear site.