1:19pm
BAC with a new low.. JPM down some more, Financials are hurting really badly. I think if GS breaks $150, you go short GS as well. WFC has a daily channel, take a look:
1:00pm
Idan starts shorting 1/10th position in SNP at 96.29
12:46pm
CRM could be another great short after it bounced from a quick oversold territory, make sure you get a good entry though:
12:31pm
Even though tech looks strong we are starting to experience a lot of trouble from the financials. The XLF hit 15, which was resistance from the megaphone formation and started falling down pretty strongly. Today it made a new very short term low. If we close below 14.20 we will start seeing a strong push lower for the financials and a potential sell off scenario for the S&P.
Here’s the daily megaphone formation:
Bernanke’s remark in Plain english are:
1.- Washington is useless and no more stimulus is coming from them
2.- Economy sucks and we need to do something about it
3.- I will get out of my way to monetize debt so inflation is the answer
4.- The dollar will continue to sink in the future
My comments are:
1.- Buy tangible assets to protect your self from inflation –> Real Estate
2.- Soon the US will become cheap thru US$ devaluation that money will flow in
3.- Expect no tax hikes from government–> the worse tax has been imposed on us –> Inflation.
Great call Prince, -5% by Tuesday. I’ll stick with Sam’s calls.
Admin…. Can you delete posts like this?
Yes. They are taken care of.
Hi Idan,
What do you think about AGU? I think it may hit 90-91 still but it’s so overbought right now.
i’ll tell you what i think…i CAN”T Believe i sold my shares!
anyways, i’m now looking at it as a short.
waiting for the last crazy push up (ie. $100 usd for NYSE:AGU) then i’m buying puts.
Thanks tshirt. Just remember you will make money by taking risk AND you will lose money by taking risk, so it could have gone either way.
I’ve missed out on doubling my money so many times, because I took profits of 20-50%, but hey as long as you make money.
i know, i was happy with 40% at the time.
anyways, i feel like there is one more push up in agu because lots of people on tv are recommending it right now. most feel it will go up until jan.
i think it will pop up and not stay there for very long…just like last time in 2008.
perhaps we only pop to 90 or so, i’m not sure the level right now but i’ll know it when it happens.
i’ll post it here.
All commodities are overbought. One of the worst is silver and the leveraged ETF AGQ has gone parabolic and who knows how long it will stay that way.
Sorry I answered this at the bottom (my own post).
Looks like we’re going to take out yesterday’s lows. Still holding other half of my SPY Nov 115 puts and Teck Nov 46 puts.
Hope that Uncle Ben finally told the country how bad it is–70% short, not scared at one last push. Have 10% stops in, next bubble.
Old uncle Ben does it again. Like the Tom Petty song goes free falling.
I don’t know how that comment got to intraday. But we are going to investigate and find out who is responsible.
i hate to say it but this is what happens when admins don’t regulate things appropriately.
letting posts like the above and sam’s crap go on unchecked for so long kills the community.
this purging seems to happen a couple times a year on this site.
people come and go…mostly go these days.
i guess that’s what happens when emotions and $ meet.
Thanks for the comment. We will improve the regulations.
I guess everybody got freaked out by Prince’s comment. Where is everybody?
You guys should not allow one individual to affect the community.
Everyone, all the inappropriate posts are removed. We know the issues with this site and we are going to address them. We hope that everyone else will do their best to support us.
Hey mind the gap, my thoughts on Agu is as follows… I still see a chance for a few more % points higher.. but it is reaching a potential top. For a stock like this you might see a big intraday shove up only to reverse and sell off below open at the end of the day… that’s my sign to go for a short. I’ll put AGU on my list.. i’m liking it as a potential short in a few days once this happens.
Idan, when are you starting your live trading again? thanks.
I would love to start doing it again.. but i’m right now moving to a different apartment.. and while i’m doing that i either don’t have time or don’t have the place to do it… i’ll definitely be doing it in the near future though.
Good call with Goog as long as it was above $460 Idan!
thx
I wish i had held all the way.
Thanks for your thoughts Idan. I’ve been waiting on this thing to short for a few days now. @ 90-91 I think it’s a definite short, but I agree that a reversal candle would be an excellent sign of going short.
Idan,
It looks like AXP got its back test of the 40 area, $39.86, what do you think about a short here?
I rather short on weakness.. but if you can find a line of resistance at 40.. and put a stop right above.. go ahead.
any opinion about aapl er on monday?
thanks in advance
Earning will probably be better than cons but I see it going to 320 before it corrects.
Market is pissed watch it sell off by EOD.
Why do you say that? I expect a bigger pullback for early next week.
I say that because it will be down close to 100pts today for finally all the banks’ bullshit is finally exposed with all their mortgage screwups. Financials will be like dominos falling one by one.
Can you spell “Fraud”? That is what it will turn out to be you watch. Media is eating this up bigtime and banks are scrambling.
Hope this happens sooner than later. I’ve been wondering about this.
AAPL is on another tear up. I see that stock hitting 400 not to far in the future.