4:29pm
I landed in the states.. and during my flight i got short massive amounts of SPY right at 112.75 as promised I would do yesterday. With that I plan to hold with a stop at 113.40 and will hopefully ride what could be a very strong wave down.
Will be flying to Raleigh/Durham today… will be out for most of the day… let’s see if 1130 holds. How are you guys playing the market today?
here is $ 15min chart for today 09.23 – play what you see
I told you that we will get 1-2% correction before we move higher. Here you go./ A huge long opportunity is if SPY drop to 111.5, that is a long best opportunity.
SWBB
Still waiting for 1-2% correction. .7% does not cut it
I tries to load my FSLR chart, but it did not work (same problem). I belive FSLT is at a very strong resistence at145~150 and close above 150 means stock isgoing to mov eto 250. Watch 150 closly everyday to see if we will get break our or no. Fail to do so in next two weeks will be very negative and means stock will fall hard.
SWBB
Sam – load your charts on your blog and provide a link here ….
you have been making some great calls lately …
To my buddy Sam On September 23 before markets open, there is a full moon in – guess where? – zero degrees of Libra and Aries, right on the Cardinal Climax degrees again. And the full moon in Libra-Aries is one of the strongest solar-lunar correlations to sharp declines in U.S. stocks historically
So, the planets are the BigBoys?
New charting tool = gravity?
Don’t get to excited usually when the market gaps down early it has the rest of the day to get back most of it and don’t be surprised when the existing housing numbers come in better than expected and the market comes back to flat.
Wouldn’t surprise me. But I want to see S&P break 1131 first.
me too..
existing home sales won’t be pretty. But mkt may still bounce.
i’m looking for a close over 1131..i also think it is quite possible going into the end of the month, one more push to 1150-1160, then a correction to test the moving averages…i don’t see a fall off the cliff pullback before the election, but we could test the bottom of the range..i hope as i am adding shorts in blocks
Sold my Oct SPY 110 puts with a loss of 35%. Had to take the hit as time decay kills any options with in 30 day expiry.
Still holding QID Nov calls for now, up 20%
Sold my QID Nov calls for 10% gain, holding just IMG.TO calls now.
Bingo I hit it right again. I just knew that was going to be the case.
Of course leading indicators came in “better than expected” so look for market to get back to green and chug away.
Yeah seems all we need now adays is one piece of “no so horrific” news per week for the buy programs to kick in eh?
Still the DJI is in overbought territory on the daily so we may get a correction yet.
Oh yea anything is possible but the trend is stiil up.
My October strangles just turned a locked in profit when I bought the last balancing call at market open. Now I have until OCT 16th to make more profit on a 3+ point rise or 3+ point fall. At worst I leave with the profit I have locked as of now. Looking back, strangles would have been the best market play for the past two years (or for me, in the year since Ameritrade gave me Think or Swim) considering the uncertainty and volitility below actual volititility. I’m kicking myself for being too greedy and loosing so much.
just enter $ long @ 1.332 here is why – $ 01 05 15min charts
http://www.screencast.com/users/prozor7/folders/Default/media/d6b2e590-6881-47bb-8b48-1b5a8ee9a4b1
do you enjoy the ride?
big day for a $ it find support @ 1.33 and it didn’t break it!
is it to bold to say that $ may hit 1.40? – explanation 1.33+(1.33-1.26)=1.40
that said where SPY will end??? how about 121?
We can still hit 1100 and have the market move higher yet again. So right now I’m slightly bullish hence have no more short positions.
There we go some more green on the markets. I’m debating if I should buy RIM calls here, $50 is resistance but the next hit will be the 3rd try so it may break.
yesterday i said rimm puts looked good so do the opposite and you will make lots of $$$.
your calls might just work out
I’m limiting my trading to high probability trade. Right now unless RIM goes above $50 I’m not doing anything with it.
Attached is my view (green arrows) of the market moving into october. I think we will retrace into next week to touch the support line (blue) and then bounce back and forth in a consolidation pattern to a push higher later next week or during october. If you want to go long I would just wait until we hit the blue line. It is going to be choppy from this point on….My target for the upside is still 11200 for a retest of the highs or a top blow off to 11800s. Once we reach 11000s I will turn completely bearish since we will move lower and it is going to be ugly…
do you have the chart for SPY?
Oh my the market is green imagine that! ROTFLMAO. How did i know that would happen? Behold another miracle ,must be the “full moon” with the visual of Jupiter.
Midday broad market update http://bidhitter.com/midday-updates/midday-broad-market-update-for-9232010/
The Fed cometh like a thief in the night
http://ftalphaville.ft.com/blog/2010/09/23/350591/the-fed-cometh-like-a-thief-in-the-night/
It’s increasingly not if, but when, as far the market is concerned over the Federal Reserve’s most recent pronouncements on reviving quantitative easing.
But when is when? And what might answering that tell us about inflation?
Morgan Stanley’s monetary analysts — long-time inflation contrarians — had a helpful if cautious guide to the first question on Thursday:
A trillion $10 bills, if they were taped end to end, would wrap around the globe more than 380 times.
Anyone shorting AMZN at this $155+ level? Hitting major trend lines (prior resistance, prior support) and is way overbought on daily. Is today the topping candle?
Hi,
I think LVS is a good short, But I am not sure whether it is top. Any thoughts.
Thanks
i wonder if we just got our double top on the qqqq’s today at 49?
I hope..bought qid this am
Market goes side way I make huge money, Market goes up I make huge money, Market goes down I make huge money, Market goes choppy I make huge money, Market goes no where I make huge money, Big boys are confused about me, beacuse whatever they do to make me lose some money they just can not do so. Everything I said and am saying exactly happening and i always say thing much earlier than happen.
Check my chart on FSLR at below link SWBB
http://bigboysactionwallstreet.blogspot.com/2010/09/look-for-breakout-above-150-to-get-in.html
SWBB
off your meds again are we?
LOL…
I’m like yeah, Daddy would love that! I am typing away right now, but no money is coming out.
XLF at low of the day.
I am currently holding 2000 shares of VXX my cost basis is 16.87 and I had my stop at the cost basis for a no risk trade into today. Yesterday I said that I was expecting VXX to reach 17.87 at least. We are almost there. I am therefore selling half of my VXX right now at 17.68. I will hold the remaining 1000 shares and will move my stop to 17.25 to secure some gains here as well. The market is behaving as I show in my previous chart, so I expect the selling to continue into tomorrow…
Bought some SU.TO Nov 32 calls.
Warren Buffett: TOP 25
1. “Rule No.1: Never lose money. Rule No.2: Never forget rule No.1″
2. “In a bull market, one must avoid the error of the preening duck that quacks boastfully after a torrential rainstorm, thinking that its paddling skills have caused it to rise in the world. A right-thinking duck would instead compare its position after the downpour to that of the other ducks on the pond.”
3. “The fact that people will be full of greed, fear or folly is predictable. The sequence is not predictable.”
4. “Be fearful when others are greedy. Be greedy when others are fearful.”
5. “It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”
6. “When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is usually the reputation of the business that remains intact.”
7. “You only find out who is swimming naked when the tide goes out.”
8. “Risk comes from not knowing what you’re doing.”
9. “If I was running $1 million today, or $10 million for that matter, I’d be fully invested. Anyone who says that size does not hurt investment performance is selling. The highest rates of return I’ve ever achieved were in the 1950s. I killed the Dow. You ought to see the numbers. But I was investing peanuts then. It’s a huge structural advantage not to have a lot of money. I think I could make you 50% a year on $1 million. No, I know I could. I guarantee that.”
10. “Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.”
11. “I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.”
12. “Price is what you pay. Value is what you get.”
13. “I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.”
14. “If a business does well, the stock eventually follows.”
15. “Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.”
16. “Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can’t buy what is popular and do well.”
17. “The line separating investment and speculation, which is never bright and clear, becomes blurred still further when most market participants have recently enjoyed triumphs. Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible people drift into behavior akin to that of Cinderella at the ball. They know that overstaying the festivities — that is, continuing to speculate in companies that have gigantic valuations relative to the cash they are likely to generate in the future — will eventually bring on pumpkins and mice. But they nevertheless hate to miss a single minute of what is one helluva party. Therefore, the giddy participants all plan to leave just seconds before midnight. There’s a problem, though: They are dancing in a room in which the clocks have no hands.”
18. “Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.”
19. “Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.”
20. “Investors making purchases in an overheated market need to recognize that it may often take an extended period for the value of even an outstanding company to catch up with the price they paid.”
21. “I like to go for cinches. I like to shoot fish in a barrel. But I like to do it after the water has run out.”
22. “We don’t get paid for activity, just for being right. As to how long we’ll wait, we’ll wait indefinitely.”
23. “In the business world, the rearview mirror is always clearer than the windshield.”
24. “The investor of today does not profit from yesterday’s growth.”
25. “Someone’s sitting in the shade today because someone planted a tree a long time ago.
OK Idan, looks like we are in a face off – I’m long 2/3 position TNA and your short SPY – see you at high noon tomorrow.
Anybody have thoughts on GS, action has been weak. I have no postion but looking to find out what everybody is looking at for support and resistance. Thanks