3:45pm
Keep the stop moving on DE… try to get at least 1% profit here… DE going the right way as we expected.. those that shorted at 76.75 today are also very happy with the trade.
Poll of the day –
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12:42pm
Intraday trade, Buy goog on any breakout of $620. With a very nice inverse H&S formation, 620 is holding GOOG at resistance. On any breakout, i’m buying $620.50 and hoping i get myself a 1-1.5% rip. Here’s the 1 minute:
12:36pm
There is no doubt about it, the Eur/USD charts are building a H&S. There was a fakeout breakdown last time we hit 1.38 but due to the fact that we’ve seen support on 1.38 prior to that a few times, I think it makes more sense to make the neckline horizontal at $1.38 and call a breakdown if we fall below that:
12:32pm
So far so good on the DE trade. I’m only making around 0.7% on this trade so far, but my stop is at 76.99 right now… in profit. If you haven’t entered the trade, you can enter if the 1 minute breaks down the 76.75 level, which has been holding today’s support. If you want to buy DE, wait for a break of the descending triangle (as an intaday trade) , although the short trade should be more of a swing hopefully. Here’s the 1 minute:
12:30pm
Does anybody have any idea why JPM is doing so awful? Right now it’s trading in a horizontal channel (circled below)… i guess i’m more of a buyer at $36 with a stop below the channel support, and will look to get short if we break the support. Any thoughts?
12:20pm
Visa daily has hit the 200 SMA… buying it at the $75 breakout already leads to a very nice profit… I think Visa is one of those stocks that is a longer term buy, and it just makes sense to buy it if it pulls back from the 200 SMA.
Heres the daily:
My commnet yesterday was so so beautiful that I have to copy thta again below and want you to reak what I said. Huge profit
Well again just every other 100 times in last few weeks I bought some SPY calls yesterday at close yesterday, I want big boys to push price higher so I can book my profit. As I said many times I will keep doing this and I do not care if one day I lose. I guess big boys still will push market higher. I think BIDU will go higher as I said on Friday. My target for BIDU to go sort is 114. I think AMZN will go hiher a little mor may be 175 then will fall.
SWBB
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6. sam says:
October 25, 2010 at 8:25 am
There is nothing more easy than making money in this market. So easy to make money when you are going with big boys. for last several weeks I have kept telling everyone about big boys being long. I bought every drop and consolidation. Recently more than 100 times I bought huge SPY calls in any drop and consolidation and sold with huge huge profit after a rally. Huge profit keep comng every day.
Look at below which is my last post on Friday. It was very clear to me that we will rally on Monday. And Monday has been the most easiest day to make tons of money for me. Whenever we are in a uptrend market then buy all friday last hour and sell with huge profit on Monday after. I did this strathegy more than 100 times recently and do not remember anytime that it did not work, Huge profit
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My post on Friday
Big boys is still long, so I hold a few SPY calls for a rally on Monday to drop them at 119.5. If price falls first then I wil load more SPY call as I see big boys still want to push up.
There is a meeting i guess this weekend that could be bearish for dollar, it it does then I expect a gap up towatd 119.5 on Monday then sell off toward 118
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Now for this week
I will sell my SPY calls at around SPY 119.5 today. I buy every drop and every sideway like Friday. I know one day it will not work and we will not go back, but I already made tons of money and i do not care if I lose 0.1% of those tons of those profit money, so i will continue my strategy. huge profit.
Now the question is when I see market will turn south. I guess this market keeps going up until the last bear give up and cut his/her losses. Then is the time this market will drop huge. so I think we will see DOW go to around April high (maybe a few points high), that is when every bear cut thier losses and say ok this market will go higher, lets cut our losses and go long, and then at that time i expect to see big boys and ME to sell our longs and go short and make huge profit. Huge profit.
SWBB
Sam do you change your story again on BIDU if 114 is hit today?
I need to look and see what big boys will do at 114, the i will figure out
SWBB
Sold the Q’s Dec puts I bought yesterday for a 12% profit. With POMO today I don’t trust this market to the down side.
Consumer confidence and home price index is at 10 am.
nice one
Thanks, I may reload if we get more green. Did you buy them yesterday?
no, instead i got the flu.
can’t get out of bed…i shoulda went with the puts, gnugh.
i hate day care!
Get better soon bud. Make some money after you’ve recovered.
Consumer confidence came in at 50.2 vs 49
Good morning. I hope nobody is here is shorting the market. I feel tomorrow we will be up atleast 100 points.
Bought today 10K of BAC @ 11.09 and 5000 TNA @52.25
Just a feeling? Any reasons. Tomorrow there is no POMO and we’ve already sold off from 1196 yesterday forming a reversal bar, so unless we hit a new high we’ll probably just grind sideways to down slowly for the next couple of days until we GDP numbers on Friday.
This market will see a drop of at least 200 pts in the next three days. I think we will see 10970 soon. Last week we closed with two candles above the weekly 200 SMA in the DJI and this week we should retest it. It sits at 10970. This move is required to get some shorts aboard for the final push higher. I am 100% in cash and will not take action unitl Nov 2nd. I see this market going higher another 8% to 11800s. But I need to confirm this by seeing the following signs:
1.- We keep trading above the 200 SMA
2.- We retrace to test it at least one time
3.- We fake below it to come back above it
Well then… your trade is clearly buy 10970 and put a 1 maybe 2% stop below it.
It is worth mentioning that if we keep going higher without testing the 200SMA and break the double top this will be a fake and it will be short lived perhaps 100 pts above it. If this happens it means that no more upside is left for this year and we will start trading down big time. (I do not think this will happen though).
Is this site dead or what?
sorta my fault for being so busy these days… can’t wait to get back and do my live trading.
Can’t wait for that
midday broad market update http://bidhitter.com/midday-updates/midday-broad-market-update-for-10262010/
Stick with scenario #2 Jrod. Total fake move on this with a shit load of low volume gaps below this 8 week move we’ve seen.
Also look where the vix is now vs where it was in Apr at these same Dow levels. Vix trending up on up days. This party is days from being over.
A breakdown of GE at $16 on the hourly is another potential short. It has been holding that level for maybe 3 weeks… any fall below it means we are starting a bigger correction and is worth shorting.
Idan what about an inverse H&S on Eur/$ with the head being your fake out? This things gotta hit 142ish before the market rolls over I think.
I don’t know.. i feel as though the fakeout should have prompted higher highs instead of us being back near the neckline again…. i’m not saying short the euro here… i want to see $1.28 breakdown first. Otherwise, it’s still buy euro sell dollar.
great thanks.
Bought BIDU at 109 and riding it with HUGE profit. Look at my coomets about BIDU for last couple days. Everything i said EXACTLY happened. I short this baby on Friday at 108. Price never could break my entry poit and fell, but I told everyone on Friday that I covered my short beacuse price will go higher Monday. Sure enough it did. Then today mornign i told you porice will go to 114, so I bought today open as I told evryone thius morning that today gap down is fake.
WOW
Big boys are long. Big boys and me will go short when the last bear give up and cut his/her losses.
SWBB
big boys rock !
when the last bear gives in big boys go short , it makes sense
cheers
SWBB
What about you shorting BIDU at 108… where’s your loss from that?
Idan, Please look at my post on Friday befoer market close
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sam says:
October 22, 2010 at 3:50 pm
i was not at my desk, just came back and saw BIDU is still at 108. You see how stroing I select reistence. Now I think Monday will be bullish for BIDu. Usually IBD put it in first line of thier list and people start buyinf on Monday, but aftewr Monday I expecta reversal on BIDU. So I just covered my short at break even. Will go short Thusday or Monday eveming again
I see.. great then.
Sam what’s market do tomorrow and what are you holding tonight?
Put in a low bid on the same Dec 52 puts @ 1.60 and it filled. I don’t see a big up day tomorrow so I’ll most likely hold on to them.
Dollar just took off up!
and strangely gold didn’t really go anywhere
I have a great shorting opportunity for this Board: GMCR
You can short this stock with a stop slightly above 33.00. My target is between 28-26 to the down side. I am taking a small 500 shares short at 32.06 (Stop at 33.00)
Thanks JROD. This looks good as it hit the gap resistance and moved down today. I’m going to wait some more on it though as it can still go up in the very short term. I have it on my watch list to short though. I’ll probably be buying puts when I do.
If GMCR stops me out it means it will want to close the Gap and go up to 37-38 price range. At which point I will short again.
Another stock I am watching closely for shorting is NFLX. I am not ready to pull the trigger on this one just yet because I think it wants to go to 200′s. If it reaches 200′s I will short the heck of it.
Another stock worth putting in the short list is BIDU. This baby should not be worth more than 200-300 US$ share. It is a major bubble and when this one bursts it will be ugly
I will let this board know when to short bidu. I would not short it just yet
One more that is worth shorting right now is:
1.- CRM short at current price 111. Stop 115
I am taking a small short of this Stock CRM 100 shares CRM @111.75 stop at 115.75.
If you want to be long I have one for you:
AGM Buy at current prices (12.50-12.20) stop below 11.75. Target: 16 first resistance and if it breaks 20+.
This one could be a gold mine
I am buying 1000 shares of AGM @12.50. My stop is tight on this one 11.75.
If there is somebody interested in a penny stock here is one: AMJN (Medical Marijuana). I just bought 20000 shares of it at .010 Cents
I spelled the thing incorrectly the Ticker is MJNA
R U serious? What the story behind this one? How involved is the government with this one? I can’t find any research material on it.
Me neither that is what makes it interesting
So my positions are:
short CRM 100 shares Price 111.75 stop 115.75
short GCMR 500 shares price 32.06 stop 33.25
Long AGM 1000 shares price 12.50 stop 11.75
Long MJNA 20K shares price .10 No stop
My cash position is north of 70% and I will not take any more positions for the time being until November 2nd
CRM short.. that’s an A&A play?
By A&A I mean.. Alerts & Analytics Service Play.
Out of curiosity where do you see MJNA going to? You hoping Prop 19 gets voted in in California?
i highly doubt itll be legalized…. My personal belief is to legalize it BUT to have it restricted during weekdays or at the minimum work hours
I have no clue where it is going. I just said to myself lets risk 2000 $ and see where this takes me
I like the nice tight clean channel they always make into the close on these POMO days. They could make it even easier and put an arrow in there so my three year old could trade
Anybody know why JPM has been doing so badly lately?
Logged a 1% gain in F today and picked up some BWLD. Hope they can duplicate my CAKE return
nice! what’s your entry/target/stop on BWLD?
in at 48.7. They report after the close so no stop in, straight gamble (small position) Looking for 5% upside, imo
well i’m crossing my fingers for you
Ouch.. looks bad so far.
got 5%, just the wrong way… bummer I will see how it trades tomorrow morning. Earnings seemed “in line”
Yesterday’s RCII trade working out great
What’s your ETS on that?
Bought yesterday at 12.53.
I set a stop at $14 this morning.
I’ll most likely sell in the next 10 mins and take the profit.
Not so sure about tomorrow’s new home sales #s.
I’m going to coin a new term called ETS = Entry/Target/Stop .. from now on i’m using that all the time.