Intraday Commentary ~ 3/11/2011

By

FocalEquity

– March 11, 2011Posted in: Intraday Commentary, Stock and ETF Models

1:40am
Markets just capitulated a few minutes ago… very weird. We were coasting along.. and just got a 0.8% drop.  We’ll see if this is the last capitulation or the start of another horrible day in the markets tomorrow.

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Sun Tze is one of the founders of FocalEquity.com. After going through multiple transitions, Tze, Charlie Cheng and their new team are bringing new changes and features to the new FocalEquity.com in 2011. Tze is specialized in financial modeling and has a masters degree in Finance.

26 Comments

1. Idan

   Posted March 11, 2011 at 1:44 AM

   Earthquake 80 miles from Tokyo.. 7.9 on the scale.. many injuries.

2. dsavill

   Posted March 11, 2011 at 3:37 AM

   ACTUALLY IT IS THE 5TH STRONGEST EARTHQUAKE ON RECORD SINCE 1900 IT WAS AND 8.9 WITH MANY AFTERSHOCKS AND A TSUNAMI.

   • Robert_Tax_CPA

     Posted March 11, 2011 at 6:46 AM

     Videos from Japan are horrible. Still many aftershocks, issues w/nuclear plant but so far that seems under “control”

     • chicagochris

       Posted March 11, 2011 at 8:20 AM

       and wow that wave was stunning…I watched live last night….and just horrible to watch those cars trying to outrun that wave

   • Idan

     Posted March 11, 2011 at 12:35 PM

     yup yyup.. they siad 7.9 at first.. now revised to 8.9

3. Robert_Tax_CPA

   Posted March 11, 2011 at 6:49 AM

   Thinking of daytrading leveraged VIX today ( I believe it’s TVXX but I have to look it up). Still holding ~ 90% short via tza vxx and SH. Added tza at proper time for once.

4. Brownie54

   Posted March 11, 2011 at 9:53 AM

   Once again the 1294 support holds on the S&P. That is one tough nut to crack. Won’t go short again unless this one is broken.

   • Robert_Tax_CPA

     Posted March 11, 2011 at 9:56 AM

     no more

     • Brownie54

       Posted March 11, 2011 at 9:59 AM

       Yep. There it goes. Back up to 1296. I need a little more than that.

       • Brownie54

         Posted March 11, 2011 at 10:10 AM

         That’s better. In SPXU with stop tied to S&P 1300. Hope to move stop up to profit area soon.

5. Robert_Tax_CPA

   Posted March 11, 2011 at 9:54 AM

   bt 200 tvix @ 48.88 for a daytrade. (leveraged short term vix). Will put stop loss of ~ 2% and plan is to close this before EOD as I’m already quite short waiting for my 1180′s SPX

6. Robert_Tax_CPA

   Posted March 11, 2011 at 10:09 AM

   Support / resistance and pivot points. Only weekly timeframe for S&P support 1 now broken; on daily timeframe Suport 1 either broken or heading towards S1 – depending on methodology used. http://www.pivotfarm.com/pivot-points.php

7. Robert_Tax_CPA

   Posted March 11, 2011 at 10:11 AM

   My TVIX now green…took longer as I put in a market order (which I rarely do) and ended up buying too high. Hoping to get a few % scalp on this. I may put in stop to protect 1.3% gain…but will likely take off stop at lunchtime (12 – ~ 2 PM Eastern time) as thats when the buy the dip people seem to accumulate longs (or close shorts ??)

   • Robert_Tax_CPA

     Posted March 11, 2011 at 10:13 AM

     lol, I read wrong ticker, I’m still down on TVIX, but by pennies….difficult to work and trade, that’s why I hold intermediate positions. Sry for confusion on my part.

     • Robert_Tax_CPA

       Posted March 11, 2011 at 10:14 AM

       and now up by pennies

8. Robert_Tax_CPA

   Posted March 11, 2011 at 10:24 AM

   CCME Halted

   • SmyrnaMan

     Posted March 11, 2011 at 10:44 AM

     Love it. I got some June $10 puts

9. Robert_Tax_CPA

   Posted March 11, 2011 at 11:32 AM

   Today’s Saudi protests were apparently almost a non-event http://news.yahoo.com/s/ap/20110311/ap_on_re_mi_ea/ml_saudi_protests

   Market commentary from Mr. TopStep http://mrtopstep.com/2011/03/11/global-insights-report-3-11-11-issue-2-48/

10. JROD

    Posted March 11, 2011 at 12:13 PM

    Given that the FED meeting is March 15th (next week) and today action it is clear that we will go up next week. I am closing all my shorts taking profits in VXX, TZA, etc. I am taking a small position in TNA 200 shares at 75.65. I am still long SONS, MAG and EEEE

    • JROD

      Posted March 11, 2011 at 12:13 PM

      I have no shorts into next week.

11. Robert_Tax_CPA

    Posted March 11, 2011 at 12:14 PM

    bollinger bands tightening up again on SPY, which way will it break?

12. Robert_Tax_CPA

    Posted March 11, 2011 at 12:31 PM

    O about to speak on energy and it’s presumed he’ll mention Japan. Radiation is apparently leaking (or rumored to be leaking) from Japan Nuclear site. You can listen to the POTUS on http://www.bloomberg.com/radio/

13. dsavill

    Posted March 11, 2011 at 2:20 PM

    Just goes to show you not even a catostrophic earthquake can stop this market as the train to paradise resumes it’s journey.

    • Robert_Tax_CPA

      Posted March 11, 2011 at 2:42 PM

      hop on board, plenty of room… I personally prefer not to take the train @ the moment

      http://www.youtube.com/watch?v=Bym9Zds93rA

      (of course I may be quite wrong)…and I am quite bearish biased / positioned at the moment

      • dsavill

        Posted March 11, 2011 at 3:34 PM

        I been on it since September and the ride is doing just fine. Only thing that will even have a chance to stop this monster is literally aworld war but then that’s what brought us out of the great depression so playing short here you WILL lose JMHO.

14. jhouck

    Posted March 11, 2011 at 3:51 PM

    Call it good old-fashioned bribery or oppression; Saudi protests turned out to be a non-event. Fear was priced in.

    For good or bad, Saudi is not like the other countries over here.

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