11:57am
I’m holding on to that big GOOG position I bought in yesterday.. slightly moving the stops right now for the hopes of at least getting 0.30 cents per share on the trade. Also the GOOG vs AAPL trade is looking better today obviously with the bad rumors on steve jobs.
Intraday Commentary ~ 2/17/2011
– February 17, 2011Posted in: Intraday Commentary, Stock and ETF Models
DON”t FORGET TO VISIT http://www.spoofee.com if you are tired of Sam making money and not you.
Consumer Price Index
8:30 AM ET
Jobless Claims
8:30 AM ET
Ben Bernanke Speaks
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
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
Dennis Lockhart Speaks
11:30 AM ET
30-Yr TIPS Auction
1:00 PM ET
Richard Fisher Speaks
1:10 PM ET
Charles Evans Speaks
1:20 PM ET
Fed Balance Sheet
4:30 PM ET
Money Supply
4:30 PM ET
Although on SPY 60 min chart the Bearish Rising Wedge, so officially, we have to wait until tomorrow to get the complete story. the VIX simply rose too fast those days even the market didn’t pullback much. This means people are cautious and thus bought lots of put to hedge, so as the result, it actually not easy for the market to drop hard from here.
Individual investors in the AAII sentiment survey still a five-year high in optimism. Top of the 2000 high is when most “BUY” ratings were given. So at the top of the proposed orthodox high of Grand Supercycle wave III is when a majority of analysts told you to keep buying. Conclusion: At the top is when a majority told you to buy and they were wrong. At the bottom of the 2002-2003 double lows is when they spiked the highest “SELL” ratings. So at the bottom is when they told you to sell and they were wrong. So the slow drip up continues…
Rally high for the broader averages expected. Major magnets for SPX and COMPQ in close proximity at 1338.80 & 2622.50 respectively. Major Bradley Turn Date due Feb. 17th. Trendline resistance, wave counts and excess bullishness all lining up. Expect minimum 120 SPX point decline if bull market run to continue or much, much worse if resumption of the bear market.”
Is that with or without QE2?
If we have a pullback it will be down to 1328 and then back up. If you have to leave your monitor for a minute you will have missed it!
exactly…..how can any traditional theories be valid if there is interference in the market….as i would not rule out a pullback with options expiring, it has to be something huge to get people to sell..like iran and israel getting into it, or the debt negotiations between our politicians completely melting down…how can it fall if every trader knows money will come in everyday to prevent it from falling too much
Interesting, huge spike in lending overnight by the ECB to mystery borrowers:
Liquidity Issues? — ECB Overnight borrowing sky-rockets:
http://newsusa.myfeedportal.com/i/eu-liquidity-issues-ecb-borrowing
Some rumors about AAPL and Steve Jobs National Enquirer Steve Jobs: Six Weeks To Live whether it’s true or not AAPL is off about $5.00 in pre -market
yep they just mentioned a rumor of health concerns on cnbc…will be tragic when he is gone…brilliant man
green again…
anw–tank after hitting resistance. will keep watching for entry.
Can you believe the Dow is barely holding positive, the SP not even 2 points up and the TNA is $1.30 up at $85.77. I just cant get myself to buy into this over bullishness.
Still all cash
1340spx, are you shorting?
I’ll be looking for a reversal then.
Look at CSTR…….Redbox now able to offer streaming video to compete with Netflix! Good buy here?
They haven’t launched streaming video yet but they are planning on it. I would watch them closely and try to find out when their launch date is before buying the stock.
Agreed! I think there could be some good upside here, at least longer term!
Look at SLV a new 52 week high..I am watching ZSL which is a double short and when SLV corrects this thing will explode,the big question is when ???
hope soon.