1:18pm
Is the TEVA era over, or is it about to start again? With the massive H&S formation on the weekly on the TEVA chart with the neckline right at $50, it makes you wonder whether or not this stock will collapse or wether or not RIGHT NOW is a great buy with the hopes that the H&S formation doesn’t complete itself.
12:55pm
Take a look AMZN did rally past 178 because of the market’s bullishness, but you can see that it’s about to fall back below, I want to start a short once we fall below $178 with a stop at 179.
12:51pm
Woah, I just got back to my trading desk, this is ridiculous. 2% rally? US now going to support Europe too…. that’s a disaster.
2:54am
AMZN 5 minutes had an island gap day yesterday…. basically this means that we had a gap up, then we had an inside trading day, and a gap back down yesterday. I think it’s worth a potential short with a stop above the $178 (low of island) mark. If you also look at the daily, you’ll see that AMZN has been behaving very aggressively bullish, we then had a doji candle, and potentially a reversal today.
2:04am
Anybody has any thoughts on the GOOG and Groupon Purchase, does it sound like a good move for both parties?
Re : Google / Groupon
I think there is a big release for Google Me coming. Rumor is that Google Me will not be like other Google products where they look too engineered and will actually look “hip.” But they need a reason for people to switch from Facebook to “Google Me.” I think this acquisition of Groupon will be a perfect advantage they can have. Imagine logging into Google Me and seeing your Groupon deals. Shows that Google is very serious about eating the social arena.
That said, don’t know why Google had to wait this long to buy Groupon.
Regarding “Google Me”, I always heard it’s coming soon, but I just read this now. Meh.
“Google’s big social initiative, once thought to be a full-fledged social network named “Google Me,” is experiencing delays that have pushed back the launch until spring 2011.”
Bought Yesterday @ 566 then again @ 560. Sold today at $570. Thanks goog!
Been saying for 2 days crazy to be short. House of pain now for shorts. Up up and away. I see 20-25 points on S&P. Giddyup.
Staying long but staying away from banks. Who knows what wikileaks has plus what other stuff is going on. GL all. Thinking of adding a copper ETF if we really break out (ie hold 1190s and move towards 1200s. I would be interested to see how Sam ends up on fas – my guess is he’ll do well on paper or irl.
Sam- can you post real time trades and cut the crap like yesterdays comment that you’ve been telling everyone to swbb for 2 years but nobody can understand you. If nobody understands either we are ALL not as smart as you or you do not explain yourself. If you have a system that works why not try to explain it to us again? Please stop insinuating that you are too smart for us to understand. This btw is meant as constructive criticism.
Robert why would you give Sam the time of day? Go back and look at his FSLR call. He’s no different than you or anyone else, has winners and has losers. The difference with him is you will only hear about his winners.
Look out for afternoon fireworks…
“Federal Reserve to Identify Bail-out Fund Recipients” See:
http://newsusa.myfeedportal.com/i/federal-reserve-identify-bail-out-fund-receipients
This is what the Fed fought to not have to do release… Who got the 3.3 trillion, rumored at the time to include foreign interests.
N one in the world can do what i d in the marke. Look at my post yeterday. I STRONGLY knew that yesterday I should go long and I CLEARLY told you that I am bullish. HUGE profit. Market is up HUGE in premarket and I TOLD YOU THIS Yesterday een before market opned. Unfortunaly people never understand. They said no you are underwater and blah blah blah. . Well what i can do to someone who does not understand simpple stuff in market. All EW blogs I follow were compltely confused and said ok, count #1 market will go up, Count # 2 market will go down, they ask formore money.
BUT me very CLEAR and STRONG pick the top and bottom. I am huge huge huge.
SWBB
———————————————
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
Last week you predicted that we would go into this week around 1150. WRONG!
Also, FAS is a little over 22 in the premarket right now wich means that you are still underwater on your trade if you bought 300 shares yesterday near the lows of the day.
You never understand the market. so i can not do anything to you. SWBB
I do understand math.
Idan – where is that ignore button. Some things never change
Well we are moving buzz on the front of the site, so you’ll see it soon enough.
You said you bought 300 more units of FAS at open yesterday. No? That would have been a better move in hindsight — HUGE HUGE HUGE profits went buh-bye.
“All EW blogs I follow were compltely confused and said ok, count #1 market will go up, Count # 2 market will go down, they ask formore money.” — Sam
More money, MORE money?? Sucker!
EW sucks n’ big boys action rocks !
forget ew
SWBB
EW works extremely well, especially when coupled with TA. IMO Idan and Woo are two of the top traders on this blog and I believe Woo at least keeps and EW count.
For a very good EW’er look at this site and check out his calls (usually only EOD posts are public). Either he’s been extremely lucky (by calling bull market for a while) but I believe it’s skill.
He has been spot on with his calls for quite some time. And yes, there is a lot of “if 1170 breaks then down or if gap up then 1200′s”. Perhaps hard to trade but that seems to be the style of many on this blog, buy for quicker timeframes. http://pugsma.wordpress.com/
ok man, i will keep an eye on this woo guy . cheers !
he is very good.
yeah he’s amazing, woooooooo!
I don’t have time and copy and paste all my past commnets. BUT GO and and look at my commnets on AMZN 2 days ago. AMZN was at 178. I said AMZN shoud fall to 174 and I will buy for a nice rally toward 200.
Yetseday AMZN came in EXACTLY at 174 that I TOLD YOU the day before. Then I posted and said I bought HUGE HUGE HUGE HUGE amount of AMZN. NOW go and look at AMZN price at premarket. HUGE HUGE HUGE up.
Whoever in the world can say such a beautiful and STRONG comments. No one as far as know. if you know anybody in the world who can do that tell me the name!!!
SWBB
but you still have yet to identify what a huge profit means,,,lol….yesterday, you stated you made huge profits on a 50-60c move on 300 shares…is that a huge profit?
Not to mention, if 300-500 shares of a $20 stock is HUGE, how many shares of a $180 stock do you expect people to believe you’re buying? 50?
Sam – if you are really so amazing why not share your trades rt?
go and ckeck my posts in last 2 days. I TOLD YOU all of my trades. Are you awake?
SWBB
Sam what is your upside target on the S+P.We are approaching that 1200 area again would you take a short at that level???
I am awake, it’s you with your head up your ass. I also post “watch CCJ” and yes, sometimes it works. But I dont come back with I told you so on my good picks only.
If you were not full of shit you would be posting I added my second batch of FAS at …. in more realtime, not several days later.
Jeffyla was correct I dont know why I waste my time with you. I thought there was a change, and there was some. But your attitude just flat out sucks. I cannot comment on your scary trading skills.
Pull up a daily chart of SPY with the 20 SMA, 50 SMA and 200 SMA. We have been in a clear uptrend since late August. It topped (for now) on November 9th at 122.95 and the action since then has been choppy (which appears corrective to me, not impulsive). Once it lost the 20 SMA, the 50 SMA would be a good spot to enter long positions IF the SPY seemed to find some support there (which it did for the last two days). This is TA 101, right? So, why were people here looking to short or buy puts? From a TA perspective, it just doesn’t make sense to me. From an EW perspective (and I’m certainly no expert on EW and I don’t use it in my trading), the action since 122.95 has seemed corrective and in no way indicative of an impending downward move.
Anyway, I said yesterday that I thought we would reach 1200 by the end of the week. I didn’t think it would be today. I will probably close my SPY calls (December 120 calls purchased on both Monday and Tuesday @ 1.20 with both buys posted here in real time) early in the morning just to be safe and let my other longs (ERX, GDX, TNA, and UCO) ride.
Best of luck to all today!
TA and EW both call for higher prices. I’ve been saying nuts to be short. Long and strong til 1280 or mid Jan, whichever comes first.
That’s my point. It seemed to me that all signs were basically pointing up which is why I have been recommending long positions for the last two days here.
Nice call on the rise!
Thanks!
120.12 on spy and pomo hasn’t even kicked in. 121 today.
Here are my current positions (every entry posted here in real time). The initial ERX and TNA entries were obviously way too early but they are panning out now.
11/26 – bought 200 GDX @ 58.40
11/26 – bought 200 TNA @ 59.90
11/30 – bought 200 TNA @ 57.00 (58.45 avg)
11/26 – bought 300 ERX @ 45.70
11/26 – bought 300 ERX @ 44.90 (45.30 avg)
11/30 – bought 1000 UCO @ 10.77
11/29 – bought 10 SPY December 120 calls @ 1.20
11/30 – bought 10 SPY December 120 calls @ 1.20
Morris, you will have a great time for today!
It looks that way. I’ll be out for most of the day (Monday and Wednesday are super busy at work for me) but I’ll check in from time to time if I get a chance. Good luck!
Are we up 150 on Jobs reports which lost 16,000 manufacturing jobs and added alot of dish washers. Or are we up because the EU is throwing everything but the kitchen sink at their desasterous debt bubble and temporarily taking down the dollar??
sold 200 shares of GDX @ 60.20 (up 3.08% from my posted entry on Friday @ 58.40); +$360.00
I’m underwatea good amount on my positions.
Glad I unloaded half earlier in the day yesterday, but I still got a little greedy and added a bit more aroun 270
Oops. Posted before I finished. I’m addi.g a bit more here. If we cross 1200 I’m taking my losses.
Where do you see the mkts / S&P going? Could this be a short term top before the next leg down to 1150?
It depends on the timeframe you’re looking to trade. Mid term the market hasn’t really chosen a direction. To break north it needs to go above 1200 short term and ultimately above 1210. To go south it needs to break 1173 to 1174.
If it breaks lower then 1140 is almost a guarentee. If its breaks higher we may see even more sideways market movement into the end of the year and another sub 1200 dip that doesn’t break the 1173 lows prior to extending to new highs above 1229.
At the moment I’ve added more spy puts and will begin trailing stops t recover some losses o the current trade.
I’m with you on that one woo.
I’m watching 1200 for my signal to sell the puts or not. Today’s close will be very important.
Bought Dec SPY 117 Put @ .97
sold 600 shares of ERX @ 48.10 (up 6.18% from my average @ 45.30); +$1680.00
just playing it safe
Nice call Morris.
way too early (as always)
Like I said yesterday I think it will hit my original prediction of 1210-1220 and then fall back. IF it does that then we have a tripple top pretty much. IF it busts through the 1226 then look out the train to paradise is gone again.
Today has a real strong chance of being a +300 day keep that in mind. The news is just too dam good and the market wants to rally in the worst way. Go with the flow guys the trend is in fact your friend believe it.
Yeah that ISM really blow our socks off.
sold 20 SPY December 120 calls @ 2.10 (up 75% from my posted entries on Monday and Tuesday @ 1.20); +$1800.00
sweet for all your trades. Congrats
sold 400 shares of TNA @ 61.50 (up 5.22% from my average @ 58.45); +$1220.00
Again, just playing it safe since I’m about to be away from the computer for most of the day. I only have the UCO position left and I’ll let it ride until later in the day. I hope the posted trades helped someone.
Really great trades, Morris. Thank you for posting and so glad to see you here again; misssed you while you were gone.
Bought some more SPY Jan 116 puts to average down.
i did as well.
raised stops to profit just now.
I don’t know if I’m delusional but I feel like the close will not be as high as today which leave the door open for a test of at least 1150.
I meant as high as the open.
BAC -back under $11.00 with the dow up 200 points amazing !!!
Sold AIB at 0.97 bought yesterday at 0.952. Hold IRE bought yesterday at 1.71
Bought TZA at 18.71 and plan to hold to sell at 20.3
http://www.stocktiming.com/Wednesday-DailyMarketUpdate.htm
12/01/10 11:06:00 FT2116961-845 BOUGHT 200 KBH 11.66000 Day Executed @ 11.66
Perhaps I am losing my marbles
but KBH as historically done very well in December.
Still staying small (bt 200kbh @ 11.66)
Love amateur traders that try to pick a top on a day the NASDAQ is up 50+. Markets moving higher. Quit getting stopped out and losing your money.
what are your positions?
1 sh spy. Swbb.
lol
I’ve changed my image to my new hero, The Bernanke. He will help me fight off any dark forces who dare try to fluck with my longs. Even KB Homes. To infinity, and beyond (not exactly, but why not just sit back, smoke a little whacky weed and just sing cumbaya with uncle Ben for the next couple of weeks). If he can’t do it, POMO can!
YES WE CAN YES WE CAN
to change an avatar, here’s an ez to use site. According to Sam, I may not be awake, but I can sure use a nicer avatar than him.
Here’s the link to the powerful avatar creator! http://en.gravatar.com/
Not sure I can stomach looking at that pic everyday while the Fed balance sheet goes up billions per day.
that’s the beauty of the gravitar….
Here one minute, gone the next
Come on 300 point day you can do it bay-beeeeeeeeeee!!
sold 1000 shares of UCO @ 11.15 (up 3.53% from my posted entry yesterday @ 10.77); +$380.00
I’m all cash now.
The trades that I have posted here since last Tuesday have generated a total profit (neglecting commissions) of $7914.00 while risking a maximum of $75,410.00 during that time period so I basically generated about 10.5% in a week. I’m pretty happy with that so I’m taking the rest of the day (and maybe the rest of the week) off from trading. I hope the trades helped someone here.
11/23 – bought 100 QLD @ 75.20
11/23 – bought 100 QLD @ 74.70
11/23 – bought 100 QLD @ 74.20
11/23 – sold 300 QLD @ 73.70 (-1.34%, -$300.00)
11/23 – bought 1000 UCO @ 9.90
11/23 – bought 500 UCO @ 9.90
11/24 – sold 1500 UCO @ 10.40 (+5.05%,+$750.00)
11/23 – bought 200 ERX @ 43.70
11/24 – sold 200 ERX @ 46.20 (+5.72%, +$500.00)
11/23 – bought 400 SSO @ 42.06
11/23 – bought 400 SSO @ 42.24
11/24 – sold 800 SSO @ 43.43 (+3.04%, +$1024.00)
11/23 – bought 10 SPY December 120 calls @ 1.41
11/24 – sold 10 SPY December 120 calls @ 1.91 (+35.46%, +$500.00)
11/26 – bought 200 GDX @ 58.40
12/01 – sold 200 GDX @ 60.20 (+3.08%, +$360.00)
11/26 – bought 300 ERX @ 45.70
11/26 – bought 300 ERX @ 44.90
12/01 – sold 600 ERX @ 48.10 (+6.18%, +$1680.00)
11/29 – bought 10 SPY December 120 calls @ 1.20
11/30 – bought 10 SPY December 120 calls @ 1.20
12/01 – sold 20 SPY December 120 calls @ 2.10 (+75.00%, +$1800.00)
11/26 – bought 200 TNA @ 59.90
11/30 – bought 200 TNA @ 57.00
12/01 – sold 400 TNA @ 61.50 (+5.22%, +$1220.00)
11/30 – bought 1000 UCO @ 10.77
12/01 – sold 1000 UCO @ 11.15 (+3.53%, +$380.00)
9 for 10
good to have you back and more active again =)
Thanks Woo! It will likely be an on and off deal for me. The first few months of a semester are really busy and I really shouldn’t be using my work time to post on message boards but things usually ease up some near the end of a semester (finals start next week). So, I will try to post in December but I will probably disappear for a few months once January rolls around.
good luck with finals. i definitely do miss that part of my college experience.
UCO over 11.20 now
Bought more Dec SPY 117 Put @ .83
Robert….your Bernanke Avatar is giving me a sour stomach. Now…if Morris adds a Tim Geitner Avatar,
I’ll have no choice but to lose my breakfast. As for Sam……..perhaps Einstein will work. Afterall, he is
far and above the intelligence of your ordinary Focal Equity poster!
i should go get an obama avatar. we can have a bring down the economy dream team.
boy do i want to short this market badly.
i knew that 1207 was an area to watch for, but i thought it was done, and wouldn’t hit. bad risk management on my part, had to settle for a 30% loss on my avg’d options that stopped out on the stronger break of 1200+, which is a little less than 20% loss overall on the position if i include the half position i sold yesterday morning.
still need to be careful about a possible drop here. not only from an inverse H&S perspective, but this 1206-1207 area is also the 61% retrace of the overall drop.
this is going to be an ugly looking next couple days. if this ends up in a drawn out flat correction it could just continue moving sideways into the end of the year.
i had a good run for 4 weeks. probably will step back from trading today (or take a really small position) so i don’t rush any trades.
i’m switching to scalp trading again, and will probably either not hold any positions overnight, or hold smaller positions overnight if i do hold them.
Im not seeing your inverse H&S. Over what time period?
from peak 1229 to bottom 1173.
not a very pretty H&S (very loose definition).
My post #20 and #21 are coming close to ringing true. Imagine that lol.
Totally amazing I no sooner made that post and kaboom the market loses 25 pts in a nanosecond! Guess the MM’s are a bit mad lolol.
the rumor of the US chipping in to bailout europe appears to be untrue…so the bump on the rumor at noon was quickly taken back
Woo, appreciated your honest, and still have a strong faith with you. I hold my short of ERY, and get hammered 5% loss, but I will hold longer term. It will be back.
I will participate your ETF team soon.
Monday and Tuesday News said great worry for Euro debts. Today all good news. News try to full people.
HUGE PROFIT. yESTEFDAY I CLEARLY SAID I AM GOING LONG AMZN AND FAS.
“I will buy 300 in 3 parts. The first part id right at open then later the day depens on price action.” — SAM
Just so I’m not missing anything:
PPS at OPEN = 22.28
Current PPS = 22.40
Sam still holds shares @ 25.00.
“HUGE PROFIT” — SAM
I can only conclude that…
SAM IS ON CRACK. Q.E.D.
oh, SWBB
I AM TELLING YOU STRONGLY AND POWERFULLY AND HUGELY. I AM LONG UNTIL S&P GET TO 1235
SWBB
I’ve been told that in a gym locker room the closet homosexual is always the one loudly touting his heterosexual achievements.
Skill (at anything) rarely breeds they type of insecurity you continually display.
Perhaps SWBB has a dual meaning? It’s OK to be yourself, Sam. We’re all friends here…until an ignore button shows up, that is.
Back to the topic, I do agree today’s action was significant and may be the start of the next leg up.
Your call shows what a fool you are Sam. I personally PLAN / HOPE to stay long until 1240 and then hopefully more. BUT I WILL WATCH. If we get attacked by martians of if Wikileaks shows that BOA and the Bernanke are doing bad things I would likely sell.
It is wiser to watch and react imo. But then again, I dont have my nose up any big boy a$$ like you pretend to have.
Dang, I just checked and UCO is at 11.37 now! I hope some of you followed me in yesterday at 10.77 (or lower) and then had the good sense to hold it until now. I bailed out at 11.15.
and ERX is blowing up bigtime!
better entry for more profits, but good decision on your part, anyway.
Yep, I left a good bit of money on the table by closing those long positions earlier today but I don’t really feel like I have to perfect my exact entry and exit points as long as I’m on the right side of the trade and locking in profits.
was giving you accolades, take it and move on.
Yep, I understand (and appreciate it). You do seem to have a more friendly stance towards me now (which is nice).
Goldman is apparently buying S&P 500 futures at 1206 (mrtopstep on Twitter)… also raised their economic outlook (Zerohedge)… not sure what the compelling reason is to be bearish… cept perhaps the idea of China tightening and open that Trichet doesn’t do this bond buying thing tomorrow.
This was Sam’s post yesterday down below. If anyone actually follows this guy you must pump Dremamine in your blood system because the turbulance is f%&*ing insane. 1060-1235 (1235 posted above) in less than 24 hours. Good luck to those that think he offers something worthwhile.
sam says:
November 30, 2010 at 8:50 am
big boys are mad today, be carful and do not go long blindly. we may see S&P at 1060 today
SWBB
Reply
I think he is like how the psychics are, they say many things and one comes close to true. Here are his predictions for this week:
- S&P will drop to 1150 this week (did not come true)
- I am long FAS and it will go up HUGE HUGE HUGE – (came true)
- Big Boys are mad and S&P will drop to 1160 yesterday (I will give him the benefit of doubt instead of calling 1060, either case it did not happen)
- I am bullish until 1235 – (Lets see where this goes, I am sure the market will touch this sometime next year but this means there will be no retrace before that)
Mad as I was, I went long 2 weeks ago on XLF following his advice only to get stopped out with a big loss. Today I went long XLF though, based on my own TA analysis than listening to his BS.
http://stockcharts.com/h-sc/ui?s=XLF&p=D&yr=1&mn=0&dy=0&id=p25307613027&a=212561004
bought 10 SPY December 120 puts @ 1.68
It’s been a good week so I can take on some risk here with a small play.
Ding Ding, its 3PM
1,000 shares of tza for scalp, 2% stop.
bought 1000 SCO @ 11.34
not a high confidence entry
ECB seems to be the new gorilla–moving up stops.
So we close up +250- +270 what do ya’ll think happens tomorrow? Continue going up or gapping down?
Here’s the latest comments from Robert McHugh:
Stocks are up sharply Wednesday, December 1st, as wave (5) up begins. Wave (4)’s final wave down within a Bullish Descending Wedge did in fact truncate, as we suggested was very possible in last night’s newsletter to subscribers. Once wave (5) is over, stocks should begin a multi-year decline. Wave (5) up should exceed 1,225 in the S&P 500, however there is the possibility it could truncate and stop there, since it is the final wave of a Rising Bearish Wedge for wave C-up of (B) up.
We will present the latest from our key trend-finder indicators in tonight’s newsletter to subscribers at http://www.technicalindicatorindex.com to see if we get new buy signals. The VIX is likely to trigger a buy signal tonight as well.
We have posted updated charts as of Mid-day Wednesday, December 1st for the Industrials, S&P 500, NDX and Canada ‘s TSX in Wednesday’s International Daily Market Report, now available at http://www.technicalindicatorindex.com
As of Mid-day Wednesday, Gold is up 1.80, the HUI is up 5.61, Silver is up 0.25, Oil is up 2.44, the U.S. Dollar is down 0.52 and U.S. Bonds are down one and two-thirds points.
i’ve got a very similar view. larger wave 5 up will break the previous highs, and then break down into a multi year drop.
we’re in a cyclical bear market still.
thank you for the repost. How have his calls been (I see only sporatic postings). BTW, I’m in that camp too, rise…but I tend to be very small in positions as the new year approaches. Time will tell.
*I believe we’ll rise, but there is a bad ass drop lurking somewhere off in the horizon.
*and I PLAN to be very small in positions as the new year approaches and this ponzi scheme unfolds.
Funny 3 min buy the dip / ponzi scheme video – has colorful language including the f word.
http://www.xtranormal.com/watch/7636089/
Thank you Cotton pretty much how I am thinking this will happen. Will be a few more up days (not as drastic) and continue into my called range 1210-1220. Will be a very good chance of some profit taking tomorrow with the Dow up 20-50 points. IF this happens then we will have a tripple top scenario which doesn’t happen very often. GLTY and we will see how it pans out.