3:09pm
AMZN could be bottoming on the intraday (5min candles).. can we break above $156.10? If so.. i’m long AMZN intraday:
2:29pm
Everyone post your current trades on BUZZ… so we can follow you too!
Goog has been consolidating for the last 2 days…. if it breaks 530 it’ll have support at $528.. but if $528 breaks i think we can get a great short with a much stronger move downwards of over 1-1.5%. Here’s the 5 min:
2:22pm
Is AAPL getting ready to explode higher? It could really be, look at the 5 min resistance that is about to get broken. I think another wave higher is possible as long as market stays around the same place:
2:06pm
XLF still needs to break the $15 level before i become a true bull on the financials.. right now it’s still in a megaphone formation:
12:44pm
We are definitely getting closer to the 115 level now… we did hit a capitulation bottom at 115.19… we might go ahead and retest that double bottom, i think it’s worth buying around then putting a stop at 114.50 and hope to let it run.
10:10am
Kind of a slow day today… SPY still holding on to 115++ which is very important. This type of action does look very strong, if we get a pull back to 115 i’m buying with a very tight stop below. Only when 113.20 breaks down do i consider shorting.
As I promised yesterday since I saw enough interest I am providing my strong post. Look at my strong and powerful analysis in below link. SWBB
http://bigboysactionwallstreet.blogspot.com/2010/10/my-huge-forecast-for-dow.html#comments
thanks Sam.
You are correct. November will be the start of the Iran/Russia Vs Israel/USA war.
There is an imminent war against Israel, and the Spirit of God says, they shall say we will get to their shores and under their ground in America.
http://kimclementvault.com/prophecyread.asp?num=421&keyword=war
who let the loonies in?
Call me loonie or Kim Crazy but did stock market crash, Ford will be revived, Ford stock would go low and recover. Did you make a million
Kim’s Prophetic Insight Regarding the Economy.
A SHAKING FOR A SHORT MOMENT IN TIME- by Kim Clement
“There is a banking system that shall crash. And they shall say, but it is so big, how can this happen in America? And God said, it shall crash. It shall crash and there shall be a shaking just for a short moment in time…” December 03, 2005- Tampa, FL- Kim Clement
For God said there will be a re-visitation of the 50s and the 60s and the 70s, says the Spirit of God. And God said, Motown will be revived. Motown will be revived because God said technology is rapidly unfolding the way your vehicle motor industry shall be on the cutting edge again. They’ve already said we must put down, we must lay aside, we must get rid of. Suddenly it will change. And God said they will say, oh, it’s because of science. They will say it’s because of scientific breakthrough, a new source of energy. No, it is not only because of that. But God said, I will give the spirit of discovery, creation and inventiveness into the motor industry – not in Japan, not in any other place – not in Germany, not in Switzerland, but in Detroit, Michigan .says the Lord.
And they would mock the discoverers, they would mock the inventors? Who is Ford? Huh! Let me tell you, God says. Ford will be revived! It shall be revived in a way that shall shock the motor industry and they shall say, where did this all come from? Where did this all come from? And God said, I will remember when My Warriors gathered around the prophetic voice and shouted the praises.
Call Me Crazy-Hearing-Gods-Voice
http://www.amazon.com/Call-Crazy-Hearing-Gods-Voice/dp/0768424941
Everyone has their edge in the trading stocks.
Thanks
Israel on war alert
Jewish state fears Iran ally will attack
http://www.wnd.com/index.php?fa=PAGE.view&pageId=212197
Posted: October 06, 2010
2010 WorldNetDaily
A Lebanese army soldier stands guard in front of a Hezbollah flag as he secures the area during a rally marking Quds (Jerusalem) Day” along a border fence separating Lebanon with Israel at Kfar Kila village in southern Lebanon September 3, 2010. REUTERS/ Ali Hashisho (LEBANON – Tags: MILITARY POLITICS RELIGION)
JERUSALEM – Israel is on heightened alert for possible attacks by the Iranian-backed Hezbollah organization in Lebanon, according to a senior Israeli defense official speaking to WND.
The official said the Jewish state is concerned Hezbollah might try to spark a conflict to deflect attention from an international tribunal investigating the assassination of former Lebanese Prime Minister Rafik Hariri, who died in a car bomb explosion in 2005.
The probe is reportedly set to indict members of Hezbollah for the murder. The indictments may come as soon as the next few weeks, reports have claimed.
Hezbollah is deeply concerned about the political fallout within Lebanon if its members are accused of murdering Hariri, the defense official said
The bastards are making the world a reflection of their beliefs, SHIT.
gld dec puts are now on my menu. this move in gold is ridiculous.
i’m going to buy them, turn off the computer and go enjoy the nice day.
Gold will probably hit 1380 first before any turn around so you may want to average in.
the next turning points for stocks is Oct 13 th, then Nov 3 rd, and Nov 17 th.
I do buy some Nov puts into any strength over the next few days.
See what happens when there is no POMO day, the market is normal and people actually sell into the strength when it’s overbought.
Today is a red day. Still holding HOD.TO and Suncor Dec 34 puts.
Bought more HOD to short oil @ 8.92, avg is now 9.29.
POMO is heroin for the markets and Bernacke’s a playa. Waiting until after the 13th for their next shot of mojo should send the market into withdrawl at least for a few days.
Exited my Oct Calls on Citi this morning with the strength:
Bought Oct CALL $4 @ 0.06
Sold Oct CALL $4 @ 0.16
76% profit.
Still holding a large block of Dec CALL $5 entered @ 0.03.
very nice!
heh hindsight being 20/20 should have held out a couple more hours
Will NEVER catch the absolute top or bottom so take your 76% and run
We keep hitting lower highs on BIDU today everytime it wants to run then turndown,hopefully we close red today
18 min ta video from eod yesterday , from alpha trends.
http://www.alphatrends.net/
Yesterday I said that the reversal is around the corner and that it was going to be big. I got asked the question how big and here is my view:
Current valuations are price in for perfection…That is everybody must exceed expectations and if you dare to miss or lower those expectations you will be punished with a 10%-20% correction or more. The inital warnings are there…Take for example BLUD today who revised down their forecast 20% hit to their stock…So if you are long you need nerve of steel coming into earnings…So what does all of this mean in terms of the drop?. Money is coming out of the technology sector after the big run up and its going into guess what?. If you said gold and silver you guessed right. Soon industrials will follow so th chain reaction will start that way with gold and silver sky rocketing and currencies all over the place. Eventually gold and silver will crash too and guess where the money will go?. If you said US$ you guessed right….I think the elements of a melt down are here and it will happen soon.
Thanks.
so any guesses about tomorrows move with the unemployment #…sounds to me it needs to be just right…if it is too good, QE might be in question or lighter than expected…too bad and the curtain is pulled back for a quick glimpse of reality. Something tells me we get one more push up regardless with maybe a reversal going into options week. any opinions
Market seems to be consolidating for a big move tomorrow,watch the Mc. Oscillator for a small move if we have that then big move Fri or Monday.
I believe the reversal has already started. If the payroll numbers weren’t due tomorrow I would have put 80% of my account short but now I have 50% short as tomorrow may give us a better chance of getting in at higher levels. The ceiling for the SPX is 1175 but the floor, who knows but all I know is the floor is much further away than the 1175 level.
Update on my positions:
JROD says:
October 5, 2010 at 3:31 pm
I am buying another round of shorts here. I am adding 500 shares to VXX to bring my average down to 17.10. I am still holding a decent amount of NFLX short and I am shorting TNA 500 shares here as well…..In short I am currently short big…My cash is about 20% now…
1000 shares VXX at 17.10 (No stop) Currently trading 16.18 for a negative………………………………
500 short TNA at 50.02 (stop 53.00) Currently trading 49.40 for positive…………………………………. US$300
150 short NFLX at 165.25 (stop 162 to lock in some profit) Currently trading at 150.77 for Positive……US$2172
I have about 25K left in the tank…. Profit of………….US$1552
So VXX is my problem child so far….
I am thinking of taking profit on NFLX but I still believe it will hit low 140s soon…
For some reason VXX loss did not show up but I am down -920 on VXX so far
I have a little vxx myself..it looks to be trading in a downward wedge that should be bullish eventually..what are your thoughts on how far it falls? I am thinking if the # tomorrow goes in favor of the bulls and QE2..the vxx could have some pressure until after the election..I’m down about 1100
Take a look at my chart post 11 attached….I am holding VXX on principle!!!
I might be repetitive but I like to navigate through different websites to get a sense for sentiment…This is what I see….
Everybody (about 80% of my sample) says 11000s big up movement after tomorrows number, bears think we will reverse but they are afraid waiting for a signal,etc….
This convinces me not to sell VXX yet and maintain my other shorts since we might negate the 11000 expectation and it will never happen…We will see
The bottom for VXX seems to be in….Take a look at the attached chart a reversal candle on the 60 minute chart follow by two bullish candles….
in for today….not convinced for the long haul…I think 14 is the ultimate bottom if the QE2 illusion continues through the rest of this month…I am expecting a bounce in the vxx next week…the question still remains, do we dip lower tomorrow..if we close above 115 on spy…I think we do see a little more downside in the vxx
I am going to take a risk on this blog and call the top….10998 (ironic). Look at my chart below:
a reversal candle followed by two bearish candle….This is probably all you need to know. Hang on to your hats………………..PLUNGEEEEEEEEEEEEEEEE is coming
Hope your right
Me too
Wish there were more bears
http://www.aaii.com/sentimentsurvey
Lots of volume in BEXP
Some info on the reversal candles that formed today on the 60 minute charts for VXX and DJI
Hey chart pros out there…can someone give me a good read on PBR? I figure it wants to see 31 before I jump in. Comments appreciated.
I bought puts yesterday at the top. Sold them today for a 15% profit.
I think I’m going to avoid the Oct options now, and start thinking more longer term.
I sold around 1053, as I don’t think there is enough pressure to break the market out of some consolidation and take us lower.
I still think we’ve hit a short term top, which could hit again. The overall inverse H&S is playing out nicely:
I’m watching that October 2008 area to see a similar pattern play out where we are right now. Since we’re near the top of the line, I’ll still be buying rises to that line, and selling at the drops like i did yesterday and today. will sit out till EOD. Market needs to break the 1075 area to be a real candidate for a longer term bullish stance.
Thank you woo. Any thoughts on oil, it is also overbought and I’m thinking we should hit at least $70 again.
i booked a 19% profit in HOU.TO cuz that’s tastsy and the move was too hard too fast. back to $70 … time will tell. but at least it needs a breather and im in wait and see mode.
oil has been moving sideways since may which is a bit disgusting. I personally would wait for a double top break to go long, the downside support is about 5% down from where we are. so overall, that’s a pretty big margin. I’m not a big fan of trading oil at the current moment.
Woo, why isn’t the descending trendline drawn from the 2007 top?
this is just the general wedge. there are other trend lines that correspond to that top, but we are above those, or they are no longer relevant to our overall outlook on the market (or won’t become more relevant till a future time).
The wedge drawn above, is probably the most applicable to us now.
Thanks
Anyone else see this article…. http://campaign.r20.constantcontact.com/render?llr=gnqlzxdab&v=001B7Ca3ME3LkJnKv4Qzqb7z5QAXoEeo0rk1FsWOs9FyAcGtMtJ0bxQ5hoyCA7L7NgcySjHmZ57Qm1KeXl_5WB1NUIvexfTneUdPKYq5RRZAyWJN7S26Gb-Whu7qRD5eDWeg6Yl4aa2LGo=
If one believes this could come to pass…do we buy gold and silver or Swiss Francs….or? Personally, I’m not feeling real good about the next month or so. Me thinks something bad is coming our way!
OK, before anyone can ridicule me….I googled the author and her name is linked with the word “hoax”. I still believe that we will be facing either a continued systematic devaluation of the dollar or an overnight devaluation sometime in the future. It’s the only way out of this horrific National debt debacle.
The world is in a debt debacle. Mexico just issued 100 year bonds at 6% interest which will be paid
in more paper/bonds.
The problem with being a profit of doom is you can only be right once and being correct won’t matter.
Big boys go up I make money, Big boys go down I make money, Big boys go side ways I make money, Big boys go no where I make money, Big boys cry I make money, Big boys make mistake I make money,
Whatever they do I make money and I proved you. Booked huge profit on my spy puts. HUGE
Look at my post and although no one in the world know last night what will happen I clearly and cofidently said market has to come down. Now I booked my profit and waiting to see what big boys do next
SWBB
i said it was coming down yesterday. i posted two charts along with it.
But you did not book huge, massive, throbbing profits woo. lol.
Sam, careful you don’t dislocate a shoulder patting yourself on the back so hard. If i ignored
my losses and just boasted about my profits….i’d be posting here.
haha. 15% is not a bad profit, but not HUGE HUGE HUGE. =)
Woo, can you let us know about NFLX? thanks!
There’s a potential we could have hit a top, but it’s not exactly the prettiest top when you line up the fibs.
If we drop under 145 i think that is the first real short opportunity.
I’d like a break above the red trend line to go long around 156-157+
In between that area, it could just go back and forth with the wavering market.
How Speed Traders Are Changing Wall Street
Steve Kroft Gets A Rare Look Inside the Secretive World of “High-Frequency Trading”
http://www.cbsnews.com/stories/2010/10/07/60minutes/main6936075.shtml?tag=contentMain;cbsCarousel
Narang programs his computers with algorithms instructing them to buy or sell certain stocks upon specified conditions, such as price. He trusts the machine to do it all. “The computer is monitoring real time data and knows what to do,” says Narang. “Computers are very predictable because they tend not to screw up. They tend to do what they are told.”
But computers can create turmoil in the market, and the results can be devastating. The market crash last May 6 was triggered by one computer algorithm that sold $4.1 billion of securities in a 20-minute period. The high-frequency trading programs’ response to that – buying many of them up and selling them just as fast – exacerbated an already bad situation.
guess I’m watching 60 Minutes this Sun night.
Sold my Suncor Dec 34 puts for 15% gain. 80% cash now. Done for the day, let’s see what tomorrow brings.
nice !
doubled down on HNU.TO …. long nat gas. paid $3.33 ….. now i sit on my hands
long HNU.TO and DRV … taking it ez
why did i buy these? ummmm… cuz i think the price goes up
Wow….just looked at the five year chart on UNG. That’s one ugly chart. May be ready for a bounce….or not!
I’m not so sure about HNU.TO, it can go either way. I think if oil goes down it has a better chance of going up and it’s way oversold. On the other hand it’s been oversold for a while so as long as you’re willing to hang on it should see a bounce.
well. you buy and see. its one ugly chart indeed. one thing is that storage levels are lower than last year. but last year storage was very high.
sucker is so sold off today it’s amazing. why price is lower than last October when storage levels are lower is beyond me. however, we all know nothing has to make sense. im buying an oversold chart and holding to
see where it goes.
just watch out for the decay on this one.
AAPL above 290.. anybody buying that as an intraday trade?
I still think AAPL is on track to 300+. As long as that green trend line at 285 holds, i think it’s ok. don’t like the overall uneasiness of the market though. i am in agreement with you in leaning towards an intraday trade, as opposed to holding this overnight anytime this week.
Goldman private out, employment to exceed 2morrow, up 125K. Rate up to 9.8 Citi out at 3PM.
GS has a great record on these things but has been stone cold the past 2 months, many rely or
believe their numbers better than BLS. Watch them shorts, your about to be boot stomped by an
end of day rally.
The concensus is up 74k right? The last 2 times GS announced this the day before there was a decent rally but today nothing is happening.
If GS can break that trend line, it can gap up to the high 160s.
tomorrow will be an interesting day for the market.
no positions going into tomorrow for me.
Holding GLD & SLV along with smattering of junior expl/miners. Gold drop today was very well
behaved and a huge encourag’t to all them PM longs.
We could get massive, great, incredible news on employment and market moves against the
expectations. Gonzo up fridays have been the norm.
Citi called jobs up 156K tomorrow, can they all be wrong?
I’m currently out of GLD since we’re back below some support. I’ll be looking to buy again at 132+. If we can’t break by Monday, I may consider a short term short position on GLD.
something up with adbe
bt 200 shrs just to see
going to hold this whopping position overnight. It’s moving again and I like that circuit breakers stoped trading on a strong move UP.
went from 1.5% down to 1% up in ~ 15 minutes on talks of talks with msft.
*rumor of talks
nice trade
— HNU.TO — one note. if you play long nat gas. the average price in past 20 years is MEDIAN $4.10
and we are trading more than 10% below this average right now. the low in 1992 was $1.05. are things
slower than 1992 in this commodity or are there more uses and volatility in demand. do you care lol ?
if oil stays up above $75 i’m looking for more chatter about expanding the uses of NG. thier have been
advances in drilling in the past 20 years but also alot more expansion in delivery.
mind the gap made a great call for short oil!
Woo, thanks for NFLX analysis. When market is down, NFLX is slight up and show some strength. it may hit support now.
$ADBE Oct 27 calls up 1600% today baby! Oct 30s up from $.04 to $.92 – OMG!! > CRAZY!!
lol. that is truly ridiculous haha. $4k could’ve turned into $92k haha
Street musta got wind Sam was long those same adbe calls. He was loading them into his
trunk at close yesterday, wow.
My positions as of today:
1000 shares VXX at 17.10 (No stop) Currently trading 16.00 for a negative……………………………………….US$ -1100
500 short TNA at 50.02 (stop 53.00) Currently trading 48.73 for positive…………………………………………..US$ 645
150 short NFLX at 165.25 (stop 162 to lock in some profit) Currently trading at 150.00 for Positive………US$ 2287
I have about 25K left in the tank…. Profit of>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>U$ 1832
I am in a predicament with VXX…What would you do use your remaining cash, sell one of the winners like NFLX to lock profits in, or stay put?. I need opinions….