3:20pm
GOOG short trade from 2 weeks ago is finally panning out really well.. for those who aren’t in it, wait for a bounce first, and then short. I think AAPL might be next.
2:44pm
Thank god, i didn’t short NFLX, that stock is sky rocketing. I still think it’s in its last faze of the bubble, but i’ll wait to see a reversal candle before i short.
2:44pm
AAPL looks like it might be starting it’s right shoulder on the daily. Remember i mentioned a possible formation of the H&S with the neckline at 300?
2:42pm
I highly doubt the market can hold it’s gains with the EURO falling down like this… i’m not shorting the market over the $118 line, but i’m definitely not buying it here either.
12:16pm
The EUR?USD could be forming it’s first inverse H&S formation that we’ve seen in a while on the 1/5 minutes. The fact that it broke down the 1.30 level though makes me want to go short this with as much money as possible. We still have to see whether or not the inverse H&s is completed (right now we are building the inverse right shoulder). If it fails, i’m all about shorting the EURO.
12:57am
AGQ is one of the companies we bought in the 122s a few days ago for in our paid services. We have already put a profitable stop on the trade, but if you want to buy this stock (for a swing trade) you should look at putting a stop below the 20SMA daily at 119 ish and hope that the 20SMA daily + the 120 support line that you see on the hourly will hold the stock up. If it breaks out of descending resistance, it is likely to shoot much further too.
Try out our services: Alerts & Analytics and Leveraged ETF Pro
wow…what is up with asia…clearly not their stocks
looking at EUR for the next signal in the markets. A break of that 1.3050 area is going to be the next downleg in the market.
looks like asia is off their lows with india’s GDP coming in better than expected…Idan..is it really possible to have any significant breakdown with POMO in the picture? we should have sold off today with the euro getting crushed and this huge run up into black friday expectations, not to mention end of month selling…I just don’t see them letting the market sell before christmas…and you have to believe Ben and the banks who are assisting with POMO have some sort of agreement as to how far it will drop
I don’t think about POMO days.. i think about what i see… right now it’s still ambiguous whether we rally or fall.. but i would be more nervous being long with the EURO dying than being short. Something’s gotta give.
but how can you really ignore it…it is almost like a rigged game…and I guess we will never know this, but like I said before, I can’t imagine the fed not making some sort of arrangement with GS and such, in regards to keeping the market up….so how can you ignore it..GL and thanks for all your valuable input
I don’t care about what everyones doing to prop up the markets or manipulate them. First of all, in most cases it’s speculation. But even more importantly, it doesn’t affect my trading to the slightest bit.
I’m a technical analysis trader, therefore it doesn’t matter. I don’t care if i’m write or wrong as long as my entry is 0.3% in the stop and i have a trailing stop to let my gains run and cut my losses.
yeah you are right about it shouldn’t matter if you are trading intraday….I am just waiting for this so called fall, as I am not as quick as most on this board…I try to buy in a hold a little longer..so that is probably why I pay attention to it more..I just wish it would drop already..thanks again for the input
http://jeffyla.wordpress.com/2010/11/30/xlf-2/
Look at my POWERFUL POWERFUL CHART!!! HUGE HUGE HUGE profits to be had by me. I would have scribbled on this but couldn’t find my crayons.
hahahaha
Thanks. I needed the laugh this morning.
Today I want to sjow the fisr world class method how to make huge money. As you know I hate EW and people who say ok market either goes up (primary count) or either goes down (Alter count) then if market does up they say give us more money beacuse my primary count was correct. if market drops they say ok give me more money beacuse my alter cout was correct. And it is intersting that people still listen to these BS.
Now this is the first world class of trading from me . I TOLD YOU that i am long 200 shares FAS at price 25.5. I TOLD YOU i am looking to average down once price come down enough. NOw I would like to tell you that today is the day. I am going buy 300 shreas more. Very streight forward, Very STRONG
I will tell you my averall average down today. I will buy 300 in 3 parts. The first part id right at open then later the day depens on price action.
Financila should start rally very hard soon based on big boys action that I see.
SWBB
I agree, Primary/Alternate counts can be pretty flakey.
Sam, do you have any critiques for jeffyla’s XLF chart?
it is a good chart, but big bous action are different. my method is basrd on big boys action. i have been saying this for more than 2 years here, but still people do not understand my methode. so just i say the name. Whenever I explain big boys action people did not understand it.
SWBB
Ok, you have 200 shares at 25.50. You were down over 14% on this trade at the close yesterday (at 21.87). If you pick up 300 more around the 21.40 level (which is where it is right now in premarket trading), your average will be 23.04 and your total investment will be $11,520.00. You will then need a 7.66% move upwards from 21.40 just to get back to even. This is “world class” trading? A 10% move upwards (which would be really nice) from 21.40 will get you to 23.54 and you would make about $250.00. That is going to be some HUGE profit (if it happens). You can buy a really nice calculator with that and still have money left over to get some burgers at the nearest Big Boy restaurant.
big boys are mad today, be carful and do not go long blindly. we may see S&P at 1060 today
SWBB
That would be a drop of 127.76 points (or 10.76%).
Come on Sam S&P down to 1060 today? WTF are you on?
It looks like SPY bounced off the 50 SMA on the daily in premarket trading. If that level breaks down today, look out below!
Woo is the winner! Good call yesterday.
Woo nailed it all the other gurus missed
It’s still early in the day though. We could easily close green today.
yes..still premature to celebrate….i won’t be convinced until that stubborn 1173 breaks…but if you are long you have to be skeptical about not rallying significantly after the positive economic news…lets see what happens after europe closes
bought 200 TNA @ 57.00
Small caps lagging this drop
bought more SPY December 120 calls @ 1.20 (doubling my position from yesterday)
SPX found support once again at the 50 SMA (on the daily)
no worries for bulls until that area breaks down
Until or if, very key imo
Yep, I am long (and I picked up more this morning around the 50 SMA) and not worried at all!
ditto, actually annoyed at self for not buying dip this am for a scalp on FTK. Went from down 8% this am to up 1.5% now. Would have been a quick 9% + scalp.
No risk, no reward.
Sold ERY at 30.67 bought yesterday at 29.32
very nice =)
Bought some Jan SPY 116 put @ 2.98, will buy more if we rise. Looking for 1130-1150.
You mean 1230-1250, right?
Morris, do you still have positions in UCO? Just got back from vacation, haven’t been following posts.
No UCO or SCO at the moment (although I did post successful UCO and SCO trades here last week).
hehehe…unless we close above 1200 today, we’re definitely going down further. Too much bullish sentiment and everybody buying dips here.
I think we will see 1200 by the end of this week (and I’m positioned accordingly) but the market is very tricky to trade these days.
Long GOOG @ 566
Google Me will bring Google back to life
IF this down move is really about Ireland, it’s really not too bad IMO. They will be bailed out. I don’t believe Spain and Portugal will end up defaulting either. Someone will save them.
Staying long, but relatively small positions here.
check out bond spreads, Italy is also on the radar. You are right shot term, long term?????????????????????
POMO SCHMOMO. Ben must be buying puts. I think we had an expected bounce off the 50MA and now we break thru.
I don’t see us breaking down though the 50 SMA (on the daily) during regular trading today but I would be very worried about gapping down under it tomorrow if we close near it today. However, I don’t think that will happen either (I think we will close in the green or close to it).
Morris Europe closed flat,US should close green.Great calls you have
Morris, all charts look good for UCO to rise to $12 (MACD, RSI, etc.). Surprised that with your thoughts of 1200, you would not be participating. Why?
I have other long positions right now (SPY calls, TNA, ERX, and GDX) but I don’t feel good about a UCO/SCO entry at this time. I did post a UCO buy here last Tuesday morning @ 9.90 and it is up over 11% since then but I got out too early (as always) with a little over 5% on the trade. I hope that others were more patient with it if they followed.
Thanks, sold SCO last week before vacation at 13.2, just don’t know if I want to get back in. UCO bid @9.8 never was met during my time off.
CMG seems to be doing very well lately, not for me, I am not a restaurant guy after getting burnt with CAKE a while back.
Obama to Make Statement 12:20 ET
Could possible talking about the Bush tax cuts and possible extending unemployment benefits..
that’ll definitely move the market if he does…
SPY running a bit maybe the news got leaked…
Short piece of F and GM and others in auto groups from Motley Fools. It does contain some data, but it’s a bit of a tease. I’m reposting as some here seem to follow these.
http://www.fool.com/investing/general/2010/11/29/another-big-month-for-ford.aspx
I’d like to see a break down of 1180 to further confirm more of a stronger drop to come.
if it drops here, it could be pretty drawn out. i doubt it will be a quick sweep again.
i’ve unloaded half of my puts on a stop out in the morning. still holding half at a pretty good avg.
I have been on vacation for the last five days. I have logged in for the first time to check the market and to my surprise one of the positions I bought last week and that I gave this board as wanting to go to 4 bucks was URRE?. Remember? I mentioned it at 2.90 and I bought it at 2.97 due to strength in uranium stocks. Now it is trading at 3.95 (30%) in 5 days. WOW! I did not expect that…With FTK and URRE and I am way on track to an early retirement. I hope somebody followed me on this one….By the way FTK looks like a buy between below 3.50. I would start accumulating more shares on weakness into next year….
I am enjoying sunny Puerto Rico and will be back in full swing tomorrow.
i was just in the dominican republic tueseday-sunday. it was 75-90 degrees the whole time. hope you’re getting some good rest =)
enjoy it while you can.
One more thing before I head to the airport…Check CROX it is consolidating and will have a push higher soon. Do not miss that boat…
URRE, URRE go URRE Go!!
Obama speaking now !!!
yay. should bring the market down. he always says a lot of things that actual amount to nothing lol.
1183.9 area is pretty crucial. above that there are some gaps.
if it crosses 1186.6 it will gap another few points north
1187.30 now
the epitome of ugly market movement haha.
i will hold this half position longer. overall i don’t lose much on this SPY put position if i sell now, but this movement isn’t bullish yet.
still not letting go of my bearish bias.
Ugly indeed as it has been in a tight wedge for many days.
Nice pop on the SPY
HUGE HUGE HUGE HUGE profit. As I told you I boiught FAS right at open and it si going higher and higher > huge profit huge profit
SWBB
what…it moved 50c and you still have shares up in the 23 area…I will give you the call to buy this morning, but huge huge profits on what 300 shares..that is ridiculous and you are still underwater..please
I am not selling today. I will show you the first class trading and how strong i will sell with huge profit. WAit in market is the key. DO NOT talk for this moment.
SWBB
Buy 1,000 shares of FAS, I will believe you. If not, shut up!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
well I would hope you wouldn’t sell today, as you are currently underwater…what do you consider huge, huge profits…lol…clearly you have 200-300 shares in the 23 area and you stated you bought 2-300 more at open..even if you only bought today and were not underwater with the other shares, would you really consider $150-200 a huge huge profit..I would consider it a profit at best…and yes, will fas return to the 23 level at some point…well yes, but to claim huge huge profits right now on a bounce off the bottom on 2-300 shares is just ridiculous…right
I believe you’re mentally deficient — and underwater on your position.
have to take a position first to be underwater on it. =)
ANW drops to 8.72. It seems close to the bottom.
AMZN puuled backed. I bought HUGE HUGE HUGE HUGE HUGE HUGE amount od AMZN at 174.9. I TOLD YOU STROBGLY yesterday that AMZN will pull back today and I buy at around 174. YOU SEE NOW I TO<D YOU before. DO NOT say I did not say. I told you before and now I told you my entry price an dthen i WILL TELL you when I book my HUGE HUGE profit
SWBB
Ireland banks dropped like hell. Since yesterday bailout, IRE rose to 27% in one day. It looks like City in 0.97 1.5 years ago. Worth to take a look at and hold.
if the bears can hold this current level and drop it down into close, it would help confirm the bearish bias.
if it can break north of here…it’s going to be a much messier ride.
Think is woo it’s almost an identical movement as yesterday the bears are not holding. The bulls are making a charge and there is that green I spoke of yesterday. Just see how the day ends but so far look like all green ahead.
Thing*
if you look on the longer term charts.
this movement is still overall bearish in the mid term suggesting a move lower.
if you look very very short term, you can make a bullish case.
I still think it will head back to my original 1210-1220 point before it drops down to your 1150 area. We will see.
could happen.
if we hit 1210-1220, there’s a chance we could just keep going sideways and then take off towards 1300s.
keep me updated on what you think =)
bought 500 Anw 8.75. Give it a try
Bought AIB 0.952 and hold for sometime
Sold 1/2 interest in SOHAF (10,000 shares, increments) @2, basis is 1.70–will see what happens.
Any particular reason? Just curious. I’m holding from an average of about 1.08…
double top, MACD, not sure of next couple of days. Will try to get back in on 200–very volatile, short term trader, good buy on your part.
Gotcha. Thanks…
EUR/USD inverse H&S could be failing…. unless we are only building the right shoulder right now.
Interesting read on AAPL taking market share of RIMM
http://www.businessweek.com/news/2010-11-30/jpmorgan-gives-bankers-ipads-in-clear-present-danger-to-rim.html
today’s movement looks like a bear flag (flat correction on wave 2).
I still think we should watch out below. the AB and now the C have just completed. time for the next wave down.
to clarify. the A is the rise on nov 29
B is drop into today (nov 30)
C was the rise today to 1187
I’m still taking the other side of the trade.
that’s perfectly fine. always stick to what works for you.
if we all agreed with each other, then this site would get boring.
this also gives me more gloating rites haha (or gives you more gloating rites).
i have added more to my SPY puts here.
good luck!
Yes, and best of luck to you!
bought 1000 UCO @ 10.77; I think oil might catch a bid here
will probably dump this if it hits 10.60
think you are early, but missed the last one. also, think market plays volleyball until fri.
I am always a little early to enter and exit trades. I use the USO chart when planning my UCO/SCO trades and I’m looking for USO to find support here at the 200 SMA around the 36.10 area. If it does not hold there, I’ll dump the UCO position.
agreed, just looking to touch 50 sma, greedy.
Yep, if USO loses the 200 I’ll dump my UCO and look to get back in when/if USO finds the 50.
so far so good. looks like i’m solid green on this averaged position too.
all in all a very good day.
sold for good profit in the morning.
hoping for another good profit with a drop into tomorrow.
in case people are interested, as noted yesterday.
i was a buyer of SPY jan 116 puts @ 2.95, 2.70, 2.50
bought more just a little while ago @ 2.75
currently market price at 2.93
Cool Woo,
I am seeing the SPY Dec 117 puts add profits as we speak. Not sure how you are able to so accurately predict the market.
So the next leg down will be a 5 wave? and we are just starting 1?
actually, i believe we’re started the 3 wave and the short term ABC correction has finished. we’ll probably get in the 1160s before a major retrace (if there is one).
still have a possible 1140 target.
i would like the market to break down more into closing, but we could definitely cross back north to 1184 or so first (not necessary though).
alright.
that’s enough retrace.
i don’t want to see any more rising from here on out.
Not good fore BAC !!!
[B]Bank of America May be Wikileaks Next Target [/B]
Bank of America may be the next target of a cache of Wikileaks documents.
Getty Images
——————————————————————————–
Earlier this week, Wikileaks founder Julian Assange said that he planned to release tens of thousands of documents on one of the largest banks in the U.S. The documents would reveal unethical behavior at the bank that would likely prompt official investigations and reforms, Assange said.
Assange refused to reveal which bank was the source of the documents.
But in an interview last year, Assange said Wikileaks had acquired a huge cache of documents on Bank of America.
“At the moment, for example, we are sitting on 5GB from Bank of America, one of the executive’s hard drives,” he said. “Now how do we present that? It’s a difficult problem. We could just dump it all into one giant Zip file, but we know for a fact that has limited impact. To have impact, it needs to be easy for people to dive in and search it and get something out of it.”
That interview did not gain much notice at the time, in part because it was given to Computer World rather than the financial press. But now it has been picked up by Sahil Kapur at the Raw Story and Ryan McCarthy, the business editor at Huffington Post. We expect it’s about to get a lot of attention.
Bank of America [BAC 11.04 -0.27 (-2.39%) ] could not be reached for comment about this story.
BAC getting ready to hit it’s days lows. The difference from today and yesterday is yesterday the financials brought the market back to day financials are looking to dump.
yes..and sam is making huge huge profits…lol
As soon as i saw BAC news this i sold my FAS position i entered @ $21.45 and sold at $21.70..No more than 3 minuets later it traded down to $21.49 talk about luck..It will probably close over $22 cause i sold
very nice. gotta react quickly.
we’re holding some FAZ. going against the big boys.
i’m all about against the big boys
Why then, do you try to run off (mediator) posts that make some sense? Have been here since inception, like analysis, but was scolded for talking against Sam. Great theatre, however, not conducive for trading. By the way, old, have monies, but also have sense.
that last comment was obviously a joke
So is Sam
I still haven’t quite understood how sam trades.. my thinking is very logical. Cut your losses, let your gains run. sam sometimes randomly says stuff.
Woo, do you have SnP Chart with your annotation of waves?
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=3&mn=2&dy=0&id=p80522056585&a=160223886
can only see the chart, but no labels.
I’d like to see how you label the waves short term.
might be restricted to stockcharts.com users.
let me post it up top later today.
it’s up top now.
also here:
http://www.focalequity.com/2010/11/30/intraday-commentary-11302010/spx-ew-2/
looks like it went up to the retrace area i watching out for (“1184 or so” – comment 37 bottom).
here we gooooooooooooooooooo.
who’s along for the ride down south?
Spy Dec 117′s baby…let’s go!
c’mon let go down
I have been waiting for the ride down south like 1020 wonder if it ever gets back there.
if i’m wrong. my bad.
Gettttt ready.. here we go
EUR/USD i’m staring at it.
anybody paying attention to the next BRIC contry?
Indonesia has been named for the next asian tiger, here is a month old article:
http://seekingalpha.com/article/236138-indonesia-the-next-bric-member?source=yahoo
The country is very rich in resources, the land is fertile and produces lots of good things.
Lots of money already went in for the hard assets though many more may still come.
Let me know your thoughts…
this is seriously a crazy wedge haha. it’s going down to the very edge of it.
Woo, on your chart, the “DEATH” comment, is that based on time, price or simply placed somewhere “arbitrary” in the future?
arbitrary.
probably will be drawn out over 3-5 years at least.
i’m projecting we get a false/bubble rise to the 1300s. probably based on inflation or some crappy stimulus.
when that bubble pops and shit begins hitting the fan, we’ll get a slow collapse of everything again. we’ll probably go below the 666 lows. haven’t picked a target yet.
We have a ton of data tomorrow….No positions held overnight until all this news plays out..
Dec 1 7:00 AM MBA Mortgage Applications -
Dec 1 7:30 AM Challenger Job Cuts (y/y) -
Dec 1 8:15 AM ADP Employment Report -
Dec 1 8:30 AM Productivity-Rev.
-
Dec 1 8:30 AM Unit Labor Costs -
Dec 1 10:00 AM ISM Index -
Dec 1 10:00 AM Construction Spending
-
Dec 1 10:30 AM Crude Inventories -
Dec 1 2:00 PM Auto Sales
-
Dec 1 2:00 PM Truck Sales
-
Dec 1 2:00 PM Fed’s Beige Book
Bears keep biting but for some reason just can’t sink their teeth in and take a chunk of meat. Guess they not that hungry………..yet.
If BAC closes under $11.00 it could see $9.50…Right now trading @ $10.98..
per post in past, will load up at 10
On the 30 mins chart we have 3 consecutive lower highs with support at the 118 mark on the SPY. Descedning triangle will break the next time we hit 118.
This will scare the pants out of the bulls and fill a lot of stop loss orders before we go higher.
I’m waiting for a good entry to add to my Jan 116 SPY puts.
wouldn’t now be the time?