1:23pm
AMZN is sorta at the threshehold of where i’d consider shorting it.. but i haven’t seen a doji or reverse candle on the daily yet.. it can still surprise us higher, wait for a reversal mid-day before you short. I don’t really have a target on AMZN to the downside, but i’d want to keep no more than a 1% stop.
1:17pm
We seem to have gotten that break of GOOG above the $600.. my trade was to buy it above 600 with a stop right underneath. It seems like it’s working alright, make sure you have a trailing stop. My guess is that 600 will be tested once more before we go any higher (if we do). My target would be double top if not higher:
Loving the news today on http://www.spoofee.com
Positions
long ANW
long CHA
long TMV
long CSCO
long BIDU
Planning
Short AMZN @ 188 (Idan’s pick)
Long FAZ (if it comes back over 10.10, i’ll put limit around 10.00)
I also really like
SHORT EWY @ 59.
Finally ANW makes a move today!
Shorted EWY @ 58.8, but I expect it to go to $59.1
awww, just took a bite out of the AMZN short sandwich @ 185. Why do you have to do this to me Idan.
So do we go up another 50 on that stellar GDP news? Or much more?
stellar? I would call the gdp report stellar…in fact I think with all the hyoe and despite meeting the headline number….it didn’t live up to this rally
TOOK A GIANT SHORT ON EBAY @ 28.95
Got stopped out on $28.9
Oh well (+$0.05) is better than a loss.
I really don’t like EBAY though, I’m sure this new tax law will kill eBay next year.
Will be shorting again.
Putting in stop on my one long – BPFH – up ~ 8% since buy on Monday. Just taking profit off table again, will likely add another long for scalp (if not too busy at work).
Still keeping positions relatively light.
grrr… put in stop limit in error and missed sell of BPFH. Will try to resell for a couple % less gain
Put in limit buy order for ATPG – 400 shares long
bt 400 ATPG @ 15.94 (long)
Stopped out of BPFH w/5% gain (I learned a lesson there to be more careful with sell orders)
HDY, which I sold for a decent gain a few days ago is still on fire to upside. I am not planning on adding anything today, but one never knows.
ATPG catching a bid
. it’s up over 1% since buy a few minutes ago. Big short interest in this one. (Hoping it continues to move up).
As my position is relatively small, no stop on this one (yet).
Just bought 1000 shares FAz and TZA. They are 52 weeks low!
Yeah, but you could have use that reasoning almost every day for the past 4 months and gone broke.
Thanks for the thought! But I took the little chance. Don’t you think trading is all about probability?
I’m eyeing FAZ too.
Wikileak seems to be whispering about Bank of America.
On the media side, Cramer is pumping financials like crazy. Almost every night.
Woo, if we exceed the 1st wave down from the 07 highs (126.07 on the SPY), does it change your EW counts?
You actually bring up a very interesting point and it’s been something I’ve been considering based on the LONG term 20 year chart.
I currently have a 1306-1309 mid term target. From there I will have to see how the market reacts, but I am thinking that is where the first major retrace will happen.
A lot of people will say this is where P3 will happen.
However, this count is based on the 2-3 year chart.
If you look at the 20 year chart:
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=20&mn=0&dy=0&id=p95898350087&a=184607634
There is a chance that the previous high in 2000 was one of the peaks of a major wave. After that there is an expanded flat ABC correction with B going to the new highs in the 1570s, and the C going down to the 666 lows. In this scenario, we would be heading to much higher highs than the previous high 1500s and we’d actually be in a 1 of 5 wave up currently.
I need a 20+ year revisable chart. stockcharts only lets me go to 20 years lol. good observation gjg =)
woo I see 1260 as a retrace from the most recent pullback and then 1280 as longer term targets and then 1304 from 07 highs
Based on the current movement, I think that 1280 is the minimum. low 1300 looks prettier in terms of overall wave movement.
market broke out of that 15 day spx chart trend line and we’re north of it currently. we’re also above a fib in the 1157 area. Needs to drop back below 1157 to be bearish.
broke below.
I am here guys. Do not afraid. I will start huge trading January with HUGE HUGE HUGE HUGE profit.
Options are getting very very very cheap and I will load tons of puts beggining January. For now just enjoying life and holiday.
Merry christmas to everyone
glad. back to the good old days. Idan’s back, Sam is back.
Very nice move on ANW.. even though it’s small compared to what was.
I’m looking for a position in CSCO too.
What happened to the volume on this site? Where is everybody????
It appears they all had HUGE HUGE profits and are waiting for the holidays to end.