1:12pm
H&S on the SPY 1minute or 5 minute right now… neckline at 131.60ish.. take a look:
12:28pm
Teva having to deal with strong resistance at $50.55.. take a look at my 1 minute chart. I’m very pleased with the retracement of the breakout from yesterday at 49.90.. but TEVA has to break through $50.55 to start going to new highs. I’m a buyer nonetheless, take a look at the 1 minute bullish action:
11:04am
SPY opening above $131… pretty much leading to a huge rally.. i think it is likely that we reach new highs since $131 is broken, unless we get a massive push lower towards the end of the day.
1:03am
Looking at futures… we are up slightly, it’ll be interesting to see whether or not we open above $131 or below $131… that could decide tomorrow’s fate. It looks like TEVA is up almost a % afterhours, which is great.. hopefully it’ll open above yesterday’s high and break through 51.09$ resistance.. I think TEVA is on a momentum spree.. and could see $54 in not so long from now (but i might be wrong).
Sorry bout them Duke boys. With them being 8 pt favorites I thought it was a lock, especially with coach so close to win record. But you (Idan) seemed to sense they might not be playing well.
Still no positions for me in trading a/c which takes restraint on my part. Currently waiting to begin scaling in shorts once again. From zero hedge apparently someone is betting big on more upside http://www.zerohedge.com/article/someone-leak-something
Feels like more of the same meltup. I’m still amazed that Japan markets have been recovering so well. I understand theBOJ injected big $ in the market and the Japanese people may not be selling but my uneducated opinion is the disaster should have negative consequences for the growth and value of many Japanese companies. I wouldn’t be surprised if they are also artificially holding up that market too, like here in the US.
Yeah… it didn’t work out… i saw that they were much weaker than last year..
http://yesinvests.com/
Simple spy chart
Looking to sell short FAS upon 1310 (5% weight),1330(5% weight),1350(10% weight),1375(10% weight).
I usually sell puts on these positions to average up my prices.
My forecast is that we chug along 1200-1400 for the next 6 months, so I want to sell volatility at 1200, and sell short at 1400. Since I do not know exactly where is the top/bottom, I average in with puts.. For me to lose any serious money, the S&P needs to go straight up to 1500 which I think is possible, but if I keep selling puts, I will break even by year end.
GL.
Interesting gold chart http://www.stocktiming.com/Friday-DailyMarketUpdate.htm
Also feels like Vix is starting to bottom out again, but it may still be a little early. Still no positions in trading account.
Listening to Bloomberg report the RIMM results, they were saying they are lossing massive shares to android and APPL. Based on just this radio commentary, it made it same as if buying APPL was a no brainer. I’m not buying it, but I suspect a lot of bulls will get even more bullish.
News on reactors in Japan is worse this AM, but this seems to have no effect on the market.
Even if the whole country is impaired with high levels of radiation, its only 6% of the global economy. No worries…. surely I jest!
You see, we didn’t gap up.. we just opened above 131.. enough to build a rally that will end up 100 points or more.. but there wasn’t much of a gap
Good call. I just thought the 3 day trend was a little too steep to hold. RSI and other TA’s looked a little weak. As it turned out it did in fact break – TO THE UPSIDE!
yup yup.. i think we go close to new highs.. or to new highs… but i rather buy oversold stocks than overbought.
Hi, All
Anyone still holding puts, JROD, and Woo, still holding?
no freaking way.. won’t hold puts on a market like this…. i’d find the oversold stocks and buy them right now.
haha, still holding puts on silver and calls on the vix and dollar, at least the dollar is working a little, haha
Yeah.. i’m actually a bull on the dollar at this level.. especially vs the euro.
Yes the typical market up dollar down scenario is not in play today with the market up the dollar is riding with it.
I’m actually still holding my initial entry SPY put. It’s a rather small position, and I’m waiting to pile on. They are May options so I still have plenty of time. I’m willing for mid 1320s to hit and still hold these. I’ll be taking a much bigger put position around there, with a very tight stop. if we start dropping back under support i’ll also grab a much bigger position with tighter stops.
Are you still holding your TZA or already closed?
Thanks,
Still holding my entry TZA as well.
http://stockcharts.com/h-sc/ui?s=TNA&p=D&yr=1&mn=7&dy=0&id=p35126747830&a=194372329
If that trend line resistance doesn’t hold into close, then I am going to look at that possible $95 projection as a much more real target.
Thanks,
Much appreciated
It can actually get pretty dangerous if we break north of here too quickly:
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=6&dy=0&id=p02273477212&a=160523740
If that happens, I’ll take my loss and look for a break to new highs.
TEVA now up.. 50.76 (looking nice
) … hopefully it can make a new high today.. and maybe hit that 51.05-51.09 resistance.. once it pushes through that.. i think it’ll see a nice gap up. $54 is my target over the next couple weeks if things go well.
big sellers
don’t know wtf that drop on spy / spx was, fed’s Fishers comments?
maybe just people closing out positions b4 the weekend? (If feels like a Thursday for some reason
) guess that’s what working 6.5 days a week does to ya.
well.. it’s the H&S formation, coming into play, but it’s pretty small.
Almost bought some VXX but used self control to stop myself from buying / gambling.
LVS was other long I almost considered, but again, controlled myself. In theory LVS should go up.
Who mentioned LVS short yesterday? Technically.. today would have been a possible short, but i think LVS at 45 is a much better short.. until then i’m neutral.
Yes, I am waiting to put LVS, I sold my call a little earily. LVS short point depends on the market, $45 is a better entry.
definately staying away then. I was looking at it for a move the other way (long). Guess that’s what makes a market.
Canada Government Falls After Vote Of No Confidence Gets Enough Votes To Pass http://is.gd/kHYLxb (from zerohedge)
Hi,
AIG lingers around 200MA, and this is fourth day with very low volume, it looks test 50MA $39. Any thoughts?
You mean around the 20MA daily? yeah.. it might be worth a buy.
man KING dollar doing alright, i might should take profits on some, dont know
130 .90 fake print on the SPY looking interesting.
ending right on that trend line:
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0&mn=3&dy=0&id=p15590136580&a=160222837