11:27am
Got a H&S formation on the QQQQ 1 minute if that interests you at all with a neckline at 57.86
9:54am
Guess who’s buying CSCO again.. and here’s why:
9:51am
Another gap up… makes it feel like we might not see another push lower… but if you’re still short you should really hope the market reverses today or else we keep on going higher!
2-Yr Note Settlement
5-Yr Note Settlement
7-Yr Note Settlement
30-Yr TIPS Settlement
Personal Income and Outlays
8:30 AM ET
William Dudley Speaks
8:30 AM ET
Eric Rosengren Speaks
8:45 AM ET
Chicago PMI
9:45 AM ET
Pending Home Sales Index
10:00 AM ET
4-Week Bill Announcement
11:00 AM ET
3-Month Bill Auction
11:30 AM ET
6-Month Bill Auction
11:30 AM ET
Farm Prices
3:00 PM ET
Please visit http://www.spoofee.com/index.php to get today’s Trades!
A i told you I need to watch he market for a couple hours on Monday and then I will tell you EXACTLY waht will happen bedofe noon.
As i told you I am hugly ong SPY call from thursday whe SPY went below 130, I will sell the majority of my calls this morning as they will be HUGLY in frofit given the gap up hat big boys are doinf,
I was also HUGLY short on JCP as I told you from several days ago and stock CRASHED beacuse of anythinf and has given me tons of money so far
SWBB
http://www.stocktiming.com/Monday-DailyMarketUpdate.htm
Anybody seeing a reversal happening today? It looks very tough for it to happen.
If you are asking about today specifically, I would tend to agree, it would be tough for today to be a reversal day. However, smaller caps (as measured by TNA / TZA) not doing as well as major indicies.
Cobra’s blog spot had an intesting discussion about all 2.5% drops since March 2009 have had two rounds of drops. he also had an interesting discussion about what happens statistically when the Vix surges 30% in 2 days.
http://cobrasmarketview.blogspot.com/
I’m still holding short, and while I expected my face to be ripped off this AM it hasn’t happened. TZA currently down fractionally, but manageable.
Maybe it will be the announcement of no Q3 that leads to the big drops.
The only reason i can see still being short is because of a potential outbreak in Saudi Arabia. Now religion there and politics are very intertwined so it’s tough for it to go into a full on protest, but maybe a few thousand protestors alone could be enough to stir some downside market action.
http://www.worldthreats.com/?p=6576&utm_source=twitterfeed&utm_medium=twitter&utm_campaign=Feed:+WorldThreats+(World+Threats)
Hard to figure at this point. Think Libya is a key, short term, agree with you on Saudia Arabia, long term. Believe market is fixed by Bernanke and others to shake out shorts at this point, agree with Ultrabear that there will be one more leg up. All is fluid–should not get in unless you have monies to lose.
Don’t look for the market to reverse and go down as I said last Thursday and most every other day the train to paradise is unstopable enjoy the ride up.
Okay–asked you before about average bottoming, can you tell us when a top will occur? Specifically, when will you sell EEE (5?) and others. If I missed your past posts, sorry. Understand LT, ST, but would like to know when you change positions.
Bro if I knew where the top would be I would be a millionaire lol. Unfortunately I will be honest with you I don’t know. What I do know is as long as they are exhausting the printing presses the market will be manipulated futher up until they run out of ink. As for EEE I am a bit puzzled how it closed today to say the least. Now in after hours it is right at where it “should” have closed. Maybe they were working on the deadline of the stock to maintain a specific price or it would be delisted I just don’t know. I still am holding it and will consider a sell if and when it gets in the $4.80-$5.00 range. As far as positions I have bull and bear positions mostly bear. Hoping my bull positions as well as my annuity and 401 balances keep riding up to hedge the FAZ’s and ANW’s.
Thanks. Just think we are in a holding pattern with middle east being the last piece. Will wait for direction, but think ALL should be fluid. Sold MAG today for quick skin–keeping UCO now, with tight stops–thinking of going to SCO at some point.
Do you have a stop on EEE? Also, is there a capitulation point for you on SPX? Can share, but if not, okay.
Hawk don’t be surprised to see the SPX in the high 1300′s if not even 1400. Anything is very possible with this screwed up market. I am just thinking back when oil was at this lofty price and when it went even higher back at the end of 3rd quarter of 2008. Remember back then? If the tv president allows that to happen then this so called recovery bs will come to a screeching halt. Remember what I said a while back until the houseing recovers nuttin will recover or will be very slow to recover. Housing has and always will be the backbone of this economy and it is the weakest link of this chain currently. Housing fuels everything and once if ever it recovers then you will see the unemployment drop bigtime. This 400k job loss every week for the last 2 years is just unreal. I ask myself how many more 400k job loss weeks are left?
Good stuff–think your theory is that Fed can overcome Middle East, anything. Don’t get me wrong, you may be correct, but at some point, an “event” will change this bs. This is why I am very nimble at this point. My theory is that we ultimately go to war with someone (Libya?–biological/chemical weapons) in the middle east to protect our stupid positions, then start to become isolationists by nature (too late) through natural gas, Alaska, etc. Good luck in your trading.
Market goes up on most 1st of the month with new money. Depending on how the market sentiment at close today, but perhaps aggressive shorts should close their positions (i’m short NAZ and $SOX specifically for today) before day’s end, especially if the market falls hard today, to protect whatever gains the shorts had garnished.
JMHO.
I told you that i WIL sell ,y huge SPY calls this morning after gap up. Huge profit was booked. Now I am in waiting for SPY market to tell me what to do/ Market is very triky today and only STRONG trader like me can find what to do.
Cloase price today on SPY is very very important, and based on close today I will tell you EXACTLY what will happen for the the rest of this week.
SWBB
I bought a HUGE HUGE HUGE HUGE HUGE amount of AIG at 37.37. ONLY LOOK and ONLY LOOK how monster I will make money on this
SWBB
HUGE HUGE HUGE HUGE HUGE HUGE HUGE HUGE HUGE HUGE HUGE HUGE HUGE HUGE FORECAST FROM ME.
FSLR 50MA is at 147.66. I will start buying a HUGE HUGE HUGE HUGE HUGE HUGE amonunt of FSLR stocks at around 147.66. WE should get a HUGE HUGE HUGE HUGE HUGE HUGE HUGE HUGE bounce after that.
SWBB
Still holding shorts based on very long term trendlines, even if they are starting to be pierced to the upside. IMO Big Ben can only push this so far.
Not expecting Saudi Arabia protests, etc, as they are showering the impovished citizens with $, loan forgiveness, etc.
Now if this spreads to latin america, perhaps that would catch people offguard.
Idan (or anyone)….is it correct that we cannot upload charts? I heard some chatter about that a bit back but I just tried and I can’t figure out how to attach anythng but a link. Any thoughts would be appreciated.
banks I follow seem to be turning less green / more red in some cases.
Tech also seems to be underperforming market
http://www.smartmoney.com/map-of-the-market/
1st day of the month..always rallies on the first of the month since sept
WOW what a ripoff!! EEE was 3.88 with 15secs left and it closed @ 3.68! WTF was that all about??
That was boolsheet on the boolshit if I ever saw it!!
Now it is sitting @ 3.80 bid and 3.87 ask how can that be? Something is up there and it looks not good.
That was by far the worst close I ever experienced ever.
hahaahaha agreed.
All I can think is the last trade was a mere 156 shares that somehow got through at 3.68. Now that is really fooked up.