4:14pm
Larry Page to take over as CEO of GOOGLE (he was one of the two founders of google). Incredible stuff!!
12:36pm
Is TEVA getting ready to explode higher? I’m not sure if it is anytime soon. But as a long term play, you KNOW it’s on my list… One of the strongest israeli stocks out there, and of course, it has a few drugs it can start producing once patents in 2012 from Pfizer + Merck expire.
11:13am
BAC backtests $14 another time.. The first time i was a buyer.. now i’m still a bull on BAC but a very careful one. A break of $14 will mean a H&S formation.. I’d become a bear on any break of $14, and start shorting the financials. It’s clear that there is overboughtness, but only on a break of $14 will the bears join in:
10:53am
And this is me going short the SPY at $127.55… with a stop at $128. This is an intraday trade that i want to turn into a swing trade over the next few days here.. I’ll start trailing my stop to profitability soon.. and then start widening it.
10:18am
GLD is collapsing! Anybody on the short trade here?
10:12am
Take a very good look at the red line that i drew right there on the SPY hourly. If we break below it, i’m all about shorting the market… I think we are WAY overdue for a 4-10% decline, and we might get that trigger on a break of $127.60. I loved yesterday’s action that engulfed the green candle with a massive red candle, but now it’s time to see the follow through.
Remember to check http://www.spoofee.com for today’s news and deals!
Significant earnings today
- AMD, GOOG, ISRG after hours
A lot of news today.
Jobless Claims 8:30 AM ET
Existing Home Sales 10:00 AM ET
Leading Indicators 10:00 AM ET
Philadelphia Fed Survey 10:00 AM ET
EIA Natural Gas Report 10:30 AM ET
EIA Petroleum Status Report 11:00 AM ET
3-Month Bill Announcement 11:00 AM ET
6-Month Bill Announcement 11:00 AM ET
2-Yr Note Announcement 11:00 AM ET
5-Yr Note Announcement 11:00 AM ET
7-Yr Note Announcement 11:00 AM ET
10-Yr TIPS Auction 1:00 PM ET
Fed Balance Sheet 4:30 PM ET
Money Supply 4:30 PM ET
My current Positions
- Long GS, INTC, KO, SCO, TMV, VZ (dangerously long I know, that’s what she said, I know)
- I took all profits on shorts (thanks AAPL, GOOG, FAZ)
Took profits on TMV and SCO
Currently
- LONG GOOG, JNPR, VZ, INTC, KO
- SHORT AA
Anybody thinking about that short SPY yet??
Good morning. Still holding my 10,000 shares of TZA bought at 14.25 last week. The EW was complete on the SP at 1293.24 and we started our wave down yesterday. My target area is around 1240
Some key levels that need to be watched.
Naz needs to hold 2715 otherwise its we go down to 2660
SP Needs to hold 1276 or the next stop will be 1250
Thinking about shorting, but waiting for a little bit. Just bt 500 UUP long, trying to play it a little differently with a position I can hold for a little bit.
I believe it will be choppy, perhaps more highs, but imo trend is changing to down.
The few stocks I really watch have had lots of big sellers which you can easily see on 1 min timeframes
01/20/11 10:32:00 FT2116961-929 BOUGHT 100 UUP 22.72000 Day Executed @ 22.7199
01/20/11 10:32:00 FT2116961-929 BOUGHT 400 UUP 22.72000 Day Executed @ 22.7197
How about you idan, are you short? Any thoughts from Woo? Is he doing ok?
Like i said in my post i am short the SPY from 127.55
got ya, thx, I read it too quickly earlier.
Not sure I picked the right vehicle for this move, but nevertheless, I’m in for 3K shares of FAZ @ $8.86.
This feels like the real deal…exit…stage left?
Only position = 500 UUP (long).
yup.. i think this is the real thing.
Bulls not going down without a fight!
Idan, Are you saying this is P3?
will be interesting to see how mark tepper influences the market tomorrow..on at 8am….sounds like he will speak words of caution….lets see if his words move the market as effectively as his nov appearance…still think we have trouble getting lower than the 50…especially with more ben dollars coming to the rescue
We’re hitting the 20 SMA daily right now on the SPY.. i wonder how that’s going to turn out.
The fokkers just won’t budge!
hahahah, my ACI puts are up another 50% just today, too bad I sold for 45% gain, yet another early sell, better than a kick in the ass though.
It’s funny how the market doesn’t care about the news when it wants to go down.
Where would you rather put your money, in bonds this year or stocks?
definitely not bonds.
lots of big boys are actually saying bonds, say Meg Whitman is full of hot air. Buy when there is blood in the street.
We’ve been talking clients out of investing in our bond fund (mostly taxable issues w/ 2.5 yr average duration).
That being said, bonds are not for me.
I believe bonds typically do very well in January, just like homebuilders tend to do well in Dec.
I don’t think it’s the real deal yet. I see a headfake and market rallying back. SPY is just stubborn. Becareful! JMHO
We can still rally back very true.. but i’m hoping this is the real deal… my stops are not far off anyway.
I don’t see a huge drop here maybe 100 points if we’re lucky. I’ll probably take a long tomorrow if we’re down again.
EEE is just kicking ass! Loving it with my 3k@2.05.
wonder if the 2.50 options on eee are assisting in fighting the trend in the market
Idan…..your current thoughts on CEL?
Nothing has changed with CEL.. great company, would love to buy it a little lower.. but a small position here is not bad either.
Back to the 20ma and down and crack it. May be the first break of the 20 in uite some time
KBH still on the rise. They say the market follows homes and banking but I believe they follow smaller caps which are not doing as well.
We had an interesting presentation from a well known value investor (bright team – they think outside the box) on Tuesday, and in their global and diversiified mutual funds (and partnerships) they are heaviest weighted in Japan via individual equities. They feel on a value basis its much cheaper. They said in the US the actual value is now in the larger cap, not smaller cap. They are still holding 4% of portfolio in physical gold (down from 6% in Dec), but they are planning on trimming that position. Their rational for trimming gold position is it is too difficult to determine a value for physical gold, so it’s too difficult to tell if it’s over or under valued.
Happy to share individual equity names in Japan, but I dont believe your average trader can buy them.
And I believe DS is correct re: head fakes, but I believe it’s the opposite. I beleive head fakes now are to shake out the bears and suck in the bulls.
I also believe the Jets can win (or at least make it to) the superbowl, so I probably belong in a mental institution.
Here we are back to flat ready to go green just as I suspected. Bears just can’t do it.
HDY getting clobbered again, was down 20 % one day recently (last week or early this week) recovered a fair amount and now down again 13%. Potential for someone to scalp if they are quick (or a HFT bot)
Wow not only did we rocket right off the 20ma, we blew right thru the 10ma. Bears are really weak.
don’t forget tomorrow is OPEX. SPY max pain = 126, but anywhere + – a dollar or so is pretty close.
http://www.optionpain.com/MaxPain/Max-Pain.php
It’s 3PM, here comes the real traders
Idan, now that you have been stopped, what is your next call?