9:33am
131.6 is the resistance that came in friday, lets see if it breaksout.. that’s a buying opportunity.
9:30am
No real change over the weekend, markets open flat.. let’s see if the SPY decides to rally off near the $131 very important support.. if it fails back down, we will look at levels where a short may make sense.
Still no positions for me. Seems to be plenty of good traders with valid points of view why we go up or down. I’ve been tempted to daytrade something long (was looking at ALEX this AM) but I’m likely going to keep no positions until SPX gets higher (if it happens).
Here’s a link to cobras blog.http://cobrasmarketview.blogspot.com/ I like his backtests and part of the post re VIX was interesting IMO. It feels a little early to short the market in any meaningful way…but that may be my being conditioned to expect someone to prop up the markets. My feeling is more based on sentiment and the markets unrelenting desire to continue upward with very few meaningful pullbacks.
With the end of the quarter coming up, funds may want to windowdress to show they have winners.
Other stock I want to own at some point (long) is OPEN, but that had a recent move up.
GLA
Still holding to TEVA ….
this market is great, if your drinking the coolaid, but how many people are actually believeing the media pundants on cnbc.
Evidentially most of them are because the market continues it’s treck up.
Agreed, if I learned anything in the last 2-3 years. It’s that it doesn’t matter what’s going on in the real world. It’s what media preaches and the world thinks. The people that saw through the BS numbers and saw the high unemployment, etc. shorting the market got slaughtered.
Exactly, shorting this market for the last 6 months was suicide. Nothing will stop it from going up until at least maybe around June but until then it is trending up. JMHO
$OPEN is a good short here at $104.00. Bought a small number of Puts..
Hitting upper trendline and high PE ratio
Only 90 some odd days until POMO ends. Last scheduled day is June 30th…unless it ends EARLY, nah, can’t be, can it?
Perhaps we’ll find out on April 12th of so when the new POMO schedule is released
http://www.newyorkfed.org/markets/tot_operation_schedule.html#
ISRG looks intersting (long) – still no positions for me in trading account
the market has been pretty sideways lately.. i’m waiting for some more good action.. but i guess we’re waiting for POMO day.
we are close to the trend line, perhaps right above, and i quess the longer we stay here the more likely the market will rise?
That seems to have been the pattern for the last 2-3 years
hmm yeah usually, if we are above a trendline and it doesn’t break for a while, it’s usually a strong sign.
Well looks like usually didn’t work this time it broke to the downside. That is definitely a bearish sign especially on the close. As everyone is humming the anticipation song lol.
still too early to tell.. but yeh, i’d be okay buying here, with a stop 20 cents away, or shorting here iwht a stop 20 cents above 131.
u know that the volume was terrible and the can munipulate this market in this environment easy, this is such a funny market
Yes it is a real funny market alright. Anyone notice that the TV president got us into another war? It will be interesting what the moron has to say tonight and you can bet your last dollar the Libya issue will be the highlight. We go from shooting a few missles from ships to being there for months. Talk about spending money like a drunken sailor. This drama and BS just has to stop. At the rate they are going there will have to be some kind of QE 2.5 or 3 because they can’t print the money fast enough to even pay the interest. This is definitely pure insanity.
hey dsavill…..doesn’t take a genius to figure out what the prez will be discussing tonight…right, nor should you be surprised if libya is highlight, as it is a press conference set up to discuss…guess what…yes libya….ummm nothing else but libya…way to be informed…lol
I never said it took a genius to figure out what the TV pres is going to talk about. The point I was trying to make since, evidentially you didn’t grasp it, is the media tells you what THEY want to tell you and that is the only thing driving this manipulated train to paradise. Oh by the way isn’t it funny how they aren’t even saying a word about the nightmare in Japan? In case nobody knows plutonium was found contaminating the water and everything else around it but they decided not to say anything and yes I told you all a few weeks back the death toll will be at least 10k people and guess what? Now they say it hit that number. When they want to tell you more then you will hear a higher figure when they are ready. Stay tuned.
lol..oh see your original post you said “It will be interesting what the moron has to say tonight and you can bet your last dollar the Libya issue will be the highlight.” and I was laughing as the conference tonight was called for one reason only..to discussed Libya..right…so as tragic as Japan is..and I fully agree, they are not being 100% honest about the reactors….I am not sure our President is expected to give a play by play of what is happening over there…He did address the radiation cloud fear to the public last week…and quite frankly..I don’t think they have a grasp on exactly what is happening over there yet….but not sure giving the play by play is necessary or helpful…so keep those $$$’s..lol…because it really isn’t that big of a mystery…oh and perhaps do not eat or drink anything coming out of Japan
http://www.alphatrends.net/2011/03/28/stock-market-video-analysis-32811/
I havent watched this yet, but I like his TA video’s. This one is from alphatrends Brian Shannon entitled
video analysis of $SPY $QQQ $XLF $SMH – indecision..
Is it me…or does it sound like Obama wants to go to war?…Is Iran next??????
Market really feels overbought at these levels..
Short FAS since $30.. got filled.. will add more on the way up (if we even get there)
Covered VXX at $30 since I didn’t like the price..
Adding a bit of value plays, but to be honest, I’ll be mostly in cash interms of longs until this markets hits my targets at 1200..