9:36am
SPY falling down below the 134.20 line.. first sign of a potential reversal (could only be a morning dip) but at least it’s a nice way to start an intraday trade:
Intraday Commentary ~ 2/18/2011
– February 18, 2011Posted in: Intraday Commentary, Stock and ETF Models
Idan my father is sitting on over 11,000 shares of GE. He has held from 24 to 5 back to 21.50. I am not very good at TA and I have watched you beat the market on stocktock now FE for 3 years now. I very much respect your opinion. What are the chances that he will see 24 in the near future? This is money that we cannot afford to lose since I’ve already dusted off 210 thousand dollars shorting this 100 percent spy rally. Mistake i’m trying to live with and vowing never to repeat again. Am I better off selling 1/3 of this GE pos. now or can I see a move to 24 in the next year. Thank you in advance
GS
GE has done a great job bring up their bottom line and mitigating their tax load by doing business over seas. Their PE Ratio is 17.89 and their last earnings were higher than then the one prior. Long Term GE looks solid to me.
Short term resistance will be 21.65
Yea… if i had the same scenario i would still be holding GE right now.. I would put a stop somewhere below in the 19s.. but then hopefully it’ll rally to 24 where you can start taking some off.
Clear signs of divergence out there. The last three trading days we saw: Market Up, Gold Up, Oil Up, & VXX up!!! Go figure. I have 500 shares of VXX at 27.99 that I bought when I saw the first signs of weakness in the market. Now something has got to give in the coming weeks and I think it is stocks. The reason is obvious liquidity will no longer be there as we have seen by todays move from China to raise the reseve ratio. VXX has dropped about 2-3% daily percent in the last 120 days of trading for every 30-50 point move up. VXX the last three days went up about 1% in 70 points move up. Smart money is exiting quietly overnight for the last week of so (Market has started red and bought up). I think the market has called Ben’s bluff and now we will see what the direction is…..I am looking forward to a free market and a real price discovery with out bubbles
I still hold some longs and as I told MONSTERY market should rally hard to SPY 134.7 I told you this several weks ago and guys go all around the world and see who ever could provide a huge forecast that I provide.
Flow of mney into my account has been HUGE HUGE HUGE HGE
Now today or next week Monday I will close all my long and wil wait for a reversal and will let you before it happens
SWBB
If we don’t get some kind of pullback today, I think we will get it next Tuesday.
Just an FYI for anyone playing the shortside next week…..
Reverse Splits
Thirteen funds will reverse split shares 1-for-4.
Ticker
Fund
EPV
ProShares UltraShort MSCI Europe
MZZ
ProShares UltraShort MidCap400
REW
ProShares UltraShort Technology
SDD
ProShares UltraShort SmallCap600
SDK
ProShares UltraShort Russell MidCap Growth
SIJ
ProShares UltraShort Industrials
SJH
ProShares UltraShort Russell2000 Value
SJL
ProShares UltraShort Russell MidCap Value
SKF
ProShares UltraShort Financials
SMK
ProShares UltraShort MSCI Mexico Investable Market
TWM
ProShares UltraShort Russell2000
UCO
ProShares Ultra DJ-UBS Crude Oil*
ZSL
ProShares UltraShort Silver*
Seven funds will reverse split shares 1-for-5.
Ticker
Fund
CMD
ProShares UltraShort DJ-UBS Commodity*
JPX
ProShares UltraShort MSCI Pacific ex-Japan
QID
ProShares UltraShort QQQ®
SCO
ProShares UltraShort DJ-UBS Crude Oil*
SKK
ProShares UltraShort Russell2000 Growth
SSG
ProShares UltraShort Semiconductors
TLL
ProShares UltraShort Telecommunications
All reverse splits will apply to shareholders of record as of the close of the markets on February 24, 2011. The funds will trade at their post-split prices on February 25, 2011. The ticker symbols for the funds will not change, and all will continue to trade on NYSE Arca. All funds undergoing a reverse split will be issued a new CUSIP number.
Nice correction. You blink – you miss it.
time for a pullback on slv?
Pullback? Naa the train to paradise is unstopable as it chugs up up and away. Enjoy the ride.
You have been correct for a good period of time–grats! Can you share your positions at this point, or when you would sell your longs?
I am selling my remaining longs today….I am out of SIHI for a small gain. I am out of MAG for a small gain. I am also out of SCON for a decent gain. I am buying today the following:
200 shares of ERX (Long Oil 3x) at 82.81
another round of VXX 500 shares at 28.75 bring my total holding to 1000 shares of VXX at 28.35 average.
1000 shares of TZA @12.37.
I have a 60% cash position left and up about 5% YTD. If we go higher next week I buy more of these stuff……
why mag?
I do not want to call tops ( I tried to do so before and failed) but I have a bad feeling about stocks in general. MAG could go higher but in the phase of market sentiment changing it could stall. So I like to be consistent with my trades and I am all short the market right now.
thanks for your honesty–agree.
Lololol nice! !
ONLY LOOK AT MY POST FOR LAST SEVRAL DAYS AND THE LEVEL I GAVE YOU AS SPY TOP. SWBB
ONLY LOOK AT MY POST FOR LAST SEVRAL DAYS AND THE LEVEL I GAVE YOU AS SPY TOP. SWBB
ONLY LOOK AT MY POST FOR LAST SEVRAL DAYS AND THE LEVEL I GAVE YOU AS SPY TOP. SWBB
ONLY LOOK AT MY POST FOR LAST SEVRAL DAYS AND THE LEVEL I GAVE YOU AS SPY TOP. SWBB
ONLY LOOK AT MY POST FOR LAST SEVRAL DAYS AND THE LEVEL I GAVE YOU AS SPY TOP. SWBB
ONLY LOOK AT MY POST FOR LAST SEVRAL DAYS AND THE LEVEL I GAVE YOU AS SPY TOP. SWBB
been following you guys for awhile and am compelled to register for the first time. sam’s number was pretty darn good. 134.70. today’s high was 13.69.
Yeah just ask him,,, oh wait, you don’t even have to do that.
I suggest you look at all his actual daily posts in the archives before you follow him blindly. I believe what he actually posts and claims to have posted may not be the same…but you can be the judge. The only reason I say I believe is I don’t follow his posts too closely. Others here can probably confirm or deny my findings. If not it’s easy enough to find out.
agreed about the past “ï told ya so’s”. but i’m just pointing out his number for today…which could just be total luck or he’s on to something…maybe he’s in bed with the big boys.
Yeah – maybe he is Bens wise Uncle
Closed my TZA this AM after too long for a 15% haircut. Ouch. Still holding larger positions in SH (inverse S&P) & VXX, both down exactly 5% and 3.37% respectively. Ok, now that I ate my loss the market can finally drop.
Feel your pain. Vxx faz srs tza. Been on that train several times only for large losses
btw, i’m smelling ponzis everywhere…aapl acting weak but dow and spy keeps holding…in fact, when aapl drops, spy seems to bounce. money shifting out of apple to the index. it’s the beginning of the ponzi’s taking profit? trying to mask selling by making indices look strong?
wasn’t it last week everyone was saying buy aapl?
anyway, regardless, end of day, end of next week, this month, we go up. the machines are in control. i give up.
qtipped as I have been preaching here for months………many months you have to be on the train to paradise. It is unstopable and will continue to melt up drip by drip well into this year. If you decide to play short you will lose everything. Remember this is not a typical market in any sence whatsoever and as they exhaust the presses and flood the market with money you have to be on the ride up. This train basically has been running since last Mar 9th 2010 and continues it’s upward journey and breaking records every dam day. Don’t fight the Fed for if you do trust me you will lose. GLTY. I am still holding EEE 3000@2.05 and riding her long.
Long USO March 36s since USO was 35.40. I think strong likelyhood that once we roll to the next contract at 89.70… we quickly rip through 90. With all the Middle East tension, oil has explosive possibilty.