1:38pm
Right now the QQQQs are retracing back a very important support level.. this is a great buying point with a very tight stop in the $57 area. As a person who wants to get short, you can get short on a break of the $57 area. Here’s the 5min:
9:44am
Oil climing up quite a bit with Saudi Arabia’s stock market decline due to potential protets in march 11. It looks like wall street is trading tick for tick with oil (opposite).
9:14am
A lot of people on wall street are looking at Saudi Arabia’s index getting SMOKED .. take a look!
Today’s Schedule
Motor Vehicle Sales
ICSC-Goldman Store Sales
7:45 AM ET
Redbook
8:55 AM ET
ISM Mfg Index
10:00 AM ET
Construction Spending
10:00 AM ET
Ben Bernanke Speaks
10:00 AM ET
4-Week Bill Auction
11:30 AM ET
Make sure you to go to http://www.spoofee.com to get today’s news!
As you guys know I HUGLY did forecast and predict the top 134.7 and I told you guys way ahead that we will see collapse from that point. I made 30% profit of total of my account buy only risking 6%. The size of money I made only in 3 days was HUGE HUGE . Then I made some mney also by buying SPY calls below 130 and sold majority of them yesterday and booked another sizable money.
NOW guys yesterday i told you market is tricky and i did not buy any SPY options.
GOOD NEWS GOOD NEWS GOOD NEWS GOOD NEWS GOOD NEWS GOOD NEWS GOOD NEWS GOOD NEWS GOOD
Market looks like is going to make anew high and that means I will be able to make 30% in 3 days again. That is huge guys. This opportunity that big boys are creating for us are not happening many times. There are a few time these opportunity appear and go fast.
NOW a MONSTER trader like me should be able to find that top again whhich I belive in not much above 134.7, but I will do my MONSTER calculation again and will let you know the top.
For short term we may see a pull back tomoorow. Today SPY can reach to 134 and then a pull back tommorow but not huge. As I told you yesterday i bought FSLR right at close and I will sell it today at open to book my profit. (Every tarde PROFIT)
SWBB
I’m curious how you plan to make 30% in 3 days. Are you trading options?
Yes trading April options gave me uch a HUGE profit. The important is to get in at right time and like i said I way ahead knew 134.7 is top and potsed here that number and repeted 15 times. You can go and read my post arounf FEB 16 i think.
SWBB
I’ll let you in on a little secret that most followers of this blog will confirm, he’s trading air and sellling bull$hit.
Yes trading April options gave me uch a HUGE profit. The important is to get in at right time and like i said I way ahead knew 134.7 is top and potsed here that number and repeted 15 times. You can go and read my post arounf FEB 16 i think.
SWBB
I feel the market is misleading everybody and when we breached below the 1300 we at that point had a trend change. I believe the market is going to make a double top and when the 2nd wave is over and everybody thinks the bull run is on its going to surprise everybody and fall hard.
Here is my chart
http://bradstradingchart.blogspot.com/2011/03/march-1-on-sp-500.html
One stock that looks poised for 6 or 7 US$ is SONS right now it is trading at 3.83 based on a huge quarter and outlook. I am looking at the chart and its currently trading above its weekly 200SMA @3.37. In the past these type of set up has yielded good returns but you need to be careful and have a strong stomach since it can get volatile. If you want to play it safe wait for a retest or pull back to the 3.50-360 area and buy…I will get in this stock shortly just waiting to see the action mid-day to make a decision
BTW, if you think the Saudi market has issues, imagine the run on the Egyptian market if that thing ever opens again. It’s been shut for a month.
My portfolio looks like these at the moment:
1000 shares VXX at an average of 28.35 average.
330 shares of TZA @36.37.
500 shares EDZ @22.42
500 shares HP @62.82
2000 shares of EEE @3.45
2000 shares of SONS @3.82
About 45% cash
What did you think about that close on EEE yesterday JROD? In the last 10 secs it dropped .20. What do you make of that? Never saw anything like that happen and so close to the EOD.
And the first day of the month is supposed to be bullish?
Market stats http://daytrend.wordpress.com/category/market-stats/
Is it because it’s a smaller POMO day (only 1.5 – 2.5 billion today, chicken scratch).
In news former GS exec in trouble for possible insider trading? Can’t be. They are doing the lords work, just ask them.
I am mostly short and my compass is VXX. I think I wrote a while back that for the very first time in a while VXX has started to trade above its daily 20SMA and it is finding resistance at its 50SMA. As long as this set up is sustain I am short. For reference VXX daily 20SMA sits at 29.87 and the 50SMA sits at 32.78. I am placing a stop on my VXX trade right at 29.50 at least securing 1000 US$ on this trade (I was making 5 times more last week) but I still feel there is more upside on VXX. Nevertheless the failsafe should be the 20SMA and below that we will make new lows on VXX.
I sense tremendous weakness in the market not just the tape but the talking heads are really busy at propping these thing up. It can only mean that there is something fishy going on.
Meant this thing up
I’ve been looking to enter vxx most of today (I sold out last week) but it doesn’t seem to be moving as much as I’d like.
My only positions are currently short probably ~ 60% – 70% in cash. Short Via TZA and SH. Based on futures and 1st day of month (new $) I thought TZA was going to be trouble again, but so far so good.
Looking into MAG again the 60 minute chart is showing an intersection soon to happen between the 20, 50 and 200 SMA this means that an explosive move (north or south) could happen soon. I want to believe the move is north and I am thinking in buying this stock again with a very tight stop around 1.79. It currently trades at 2.00
I bought 2000 shares of MAG @2.00
on one minute, some big time sells of UUP – dollar index, ~ 2 min ago 650k shares (red candle) and earlier today ~ 300k shares.
I just put in buy order for vxx if it retraces a bit I’ll end up buying. I MAY buy UUP, in case “big boy” believes USD going up (which is what I have been thinking for a bit)
http://cyclicalmarketanalysis.blogspot.com/
bought a little vxx @ $31.40 – down slightly but planning to hold for a little while.
UUP now green, not by a lot, but one would expect that with US equities red (actually I would have expected green UUP –> drop in SPY, etc)
I TOLD YESTREDAY THAT I AM BUYING FSLR at 50 MA. LOOK and only LOOK ,LOOK and only LOOK LOOK and only LOOK LOOK and only LOOK
All world are crashing and my long are was up and I was able to booked a nice profit
HUGE HUGE guys
No one can do that
SWBB
HUGE HUGE HUGE HUGE HUGE HUGE MONSTER MONSTER technical analysis from me.
GUYS look and nly look what i am about to tell you
0.70 in SPY is VERY IMPORTANT. During last couple days . SPY topped at 134.7 (EXACTLY AS I TOLD YOU WAY AHEAD) then SPY CRASHED to 129.70 (AGAIN 0.70) then rally hard and topped at 133.70 (AGAIN 0.70) the crashed today and bottomed at least temporerly at 131.70 (AGAIN 0.70). All 0.70
NOW watch it closly. we see the 131.70 did not hold just now to i will see 130.70 as to come as a target and a nice bounce from
SWBB
I’m following JROD with MAG.
Also bought LULU may call.
SPX broke 1314, so 1308 next?
paring some uco gains.
Technically speaking is almost a fact that we will go down at least to 11850. That is the first line of defense as I mentioned on a previous post last week
That has been my rough target for about 2 weeks — the X-Mas gap I believe. Hope it happens cause it’s been painful getting there. (them 3X ETF can kill ya if you don’t time it well).
Crazy 1 min gap downs in FSLR — Sam, if you didnt get out your huge huge profits may become huge huge losses
correction, my target was / is SPX 1185 not dow.
I mean support –> In my own terminology I like to call support an area of resistance but that can be eventually broken. First Line of Defense is a much stronger support where bounces should be really strong and powerful since a lot of bulls will be retreating and lurking around those levels….Run for the hills is the last line of defense and a new sentiment or market is formed. Typically a bull or bear. In this case iif we break my last level t will be a bear….
My post from last week for reference….Note that we did bounce off from 12020 last week to 12261. Now that should have trapped some bulls and shook off some weak bears.
JROD says:
February 23, 2011 at 12:56 pm
Now about the technicals…. I expect a bounce around 12020-12050 soon. This will be an intermendiate support because the 60 minute SMA is exactly at those levels. If we breeze past it all hell will break loose and the next support is 11825-11850. If we break this one then the bottom of the ascending channel from the crisis lows is next which could hit anywhere between 11200-11400 depending on how steep is the sell off. The very last support before a crash of biblical proportions is 10921 and here you can kiss your bull market good bye……..
In summary:
First Stop 12050
Support 11825-11850
First Line of Defense 11200-11400
Run for the hills the dam broke10925-10950
max pain (perhaps too early ???) on SPY = 130. However, not much difference a few points up or down. http://www.optionpain.com/OptionPain/Option-Pain.php
Train to paradise may be delayed due to too much bullcrap on board.
LOL yea the conductor is the bullcrap.
Dam ANW is such a pos! Diving like a rock. At this rate I would not be surprised if the company went BK.
I would be a buyer around 7.7.
Have been following many charts, both ST, LT. Seems to me that that the volume always wins in the long run. Would ask for some analysis from this board about December 7, 2010 (SPX, others, daily). One would have to be short, long term, to appreciate profits. By the way, there was no significant downside on this immediately. Thoughts?
will watch GE tomorrow—not looking pretty.
As I said before the top was in and I believe the market is now in the 3rd wave down and tomorrow we should see 1296 on SP possibly a short bounce after that but to no more than 1310 just to go back down to 1294 and further drop from there looking at 1256
Futures are down tonite at 8:52 Pm EST and as we speak oil is going for $100 a barrel. Stock markets never did play well with high oil prices because it hurts every industry and sector in the stock market especially the consumer. When high oil/gas prices occur, consumers spend less, alot less. We are looking at $4 per gallon gas right around the corner.
http://bradstradingchart.blogspot.com/2011/03/1296-on-sp-here-we-come.html