[jjgold]

Could be a big day tomorrow

[obamaismyuncle]

[milwaukee mike]

big timers will sell into the rally.
no surprise if the market opens up 200 points and finishes down, u.s. economy is spiraling further down the toilet, whether it's $15 trillion or $100 trillion it can never be paid back and more people are starting to realize that fact

[pavyracer]

My sources say that a 7% drop is not out of the question. Congress doesn't care about the stock market.

[swaindexter]

My sources say that a 7% drop is not out of the question. Congress doesn't care about the stock market.

Agree, it may be a wild day on Monday and a 7-10% drop by the closing bell could very well happen.

[k13]

-490 at 5dimes

Shit be going up tomorrow

[jjgold]

futures holding strong

euro moving nice

i love money

[Emily_Haines]

84740367-17/31/11 9:07pm$205.00$50.00Pending8/1/11 12:30am DOW Jones Other Sports 101 Dow Up Monday -410* vs Dow Down Monday

[alling]

suckers will buy, smart money will sell.

[QQPALLADIUM]

84740367-17/31/11 9:07pm$205.00$50.00Pending8/1/11 12:30am DOW Jones Other Sports 101 Dow Up Monday -410* vs Dow Down Monday

nice...bloomberg says +172...-410 great price imo...good luck

[hubie69]

Sell man..

[itchypickle]

In the red by the afternoon swings "buy the rumors...and _ _ _ _ _" Remember this is only a deal struck the same as the one Boehner, then Reid made.......opposing sides and caucus hacks won't vote it in.

[QQPALLADIUM]

-410 better value than -600 on cubbies up 4-0

[jjgold]

I say it ends up tomorrow
Got pounded down last week
I think the debt deal is done too

[hornsrgrt]

Agree, it may be a wild day on Monday and a 7-10% drop by the closing bell could very well happen.

not going down

[NYSportsGuy210]

What was the deal to be reached? It seems like nothing to me....cut a total of $1 trillion in debt spending over 10 Years?

How does that help reduce the deficit?

[jw]

How does that help reduce the deficit?

It doesn't - it just lets everyone think they won .. and gives both sides PLENTY of ammunition before the next election ...
This was never about the deficit ... (which will be around 10-12 Trillion higher 10 years from now no matter who is pretending to be in charge)

[jjgold]

It doesn't - it just lets everyone think they won .. and gives both sides PLENTY of ammunition before the next election ...
This was never about the deficit ... (which will be around 10-12 Trillion higher 10 years from now no matter who is pretending to be in charge)

they are all frauds..all they worry about is getting re elected and stealing millions

[Cougar Bait]

Look at GE early.

[Statman]

Market was also WAY oversold so this will get some of that back.....

[Boner_18]

Nice swing profits from last week. Of course congress will work out a debt restructure.

[jjgold]

I do not thing though it is a strong upswing..rest of week could be lower and just flat
currencies dead
gold down $7 but we all know that is going to 2000

[jjgold]

stocks weakening already
no strenghth
still up 93

[Cougar Bait]

Look at GE early.

Hope someone got in on that one, up .30 early, that's a 1.65% increase.

http://finance.yahoo.com/q?s=GE&ql=0

[milwaukee mike]

Hope someone got in on that one, up .30 early, that's a 1.65% increase.

http://finance.yahoo.com/q?s=GE&ql=0

um sorry but ge opened at 18.39 and is now at 18.15

so if you bought ge at the open you are down 1.3% in 15 minutes

[milwaukee mike]

just like i said, a sucker's rally.
the u.s. economy is in complete shambles - look at the dollar. in international terms, if you held u.s. stocks in dollars you are down 40% over the last 10 years vs just sitting on euros.
and the only reason you would "only" be down 40% is because a large chunk of u.s. corporate profits come from overseas and their earnings have looked artificially strong when they repatriate those profits vs the weak dollar

[BIGDAY]

just like i said, a sucker's rally.
the u.s. economy is in complete shambles - look at the dollar. in international terms, if you held u.s. stocks in dollars you are down 40% over the last 10 years vs just sitting on euros.
and the only reason you would "only" be down 40% is because a large chunk of u.s. corporate profits come from overseas and their earnings have looked artificially strong when they repatriate those profits vs the weak dollar

this.

I like to call it funny money. The only reason we tread water as an economy.

[BIGDAY]

As a whole, US is in serious trouble imo.

[milwaukee mike]

"real money" GOLD JUST WENT GREEN!!! and as i and others predicted the dow/s&p are RED!!!
what an awesome turnaround, in 1/2 hour gold has rallied back about $20/oz and the dow has crashed 200

ALL I DO IS WIN WIN WIN NO MATTER WHAT
GOT MONEY ON MY MIND I CAN NEVER GET ENOUGH

[BIGDAY]

"real money" GOLD JUST WENT GREEN!!! and as i and others predicted the dow/s&p are RED!!!
what an awesome turnaround, in 1/2 hour gold has rallied back about $20/oz and the dow has crashed 200

ALL I DO IS WIN WIN WIN NO MATTER WHAT
GOT MONEY ON MY MIND I CAN NEVER GET ENOUGH

[Cougar Bait]

Good job Mike yes I was looking at incorrect data, looking at the close on 7/31 instead of the real time.

I am going to stick with it today though, GE just sold SeaCo to China (big surprise) but that should benefit the financial arm.

Also GE was down almost 6% last week, and I just don't see that trend continuing.

[FindTheLock]

everything has a - in front of it right now and it isn't even lunch time yet.

[Herminator]

Cougar Bait-
I just opened an option spread position on GE this morning by buying 20 contracts of GE Sep 18s and selling 20 Aug 18s (calls). Generally speaking, I feel uncomfortable trading this market, however, there is coin that can be made using spreads and straddles in a conservative manner. I deal primarily in puts/calls on SPY, BAC and GE. I never buy unprotected options but do hedges. In my opinion, GE is a great bargain as they have a huge amount of cash on hand because they pay little or no federal taxes and are sitting on this treasure over in Europe. Bottom line is that it is highly likely that they would buy their own shares at any weakness thereby putting a floor on the downside.

[lemart5]

I wouldent be a buyer here until I see non farm payroll numbers .Volitility is keeping me on the sidelines .

[milwaukee mike]

Good job Mike yes I was looking at incorrect data, looking at the close on 7/31 instead of the real time.

I am going to stick with it today though, GE just sold SeaCo to China (big surprise) but that should benefit the financial arm.

Also GE was down almost 6% last week, and I just don't see that trend continuing.

best of luck cougar bait even though i am on the other side of that trade.

at the very least i would sell some covered calls against the position (with the stock at 17.80 you can get .20 for the aug 5th $18 calls or .25 for the sep 17th $19 calls). that's over 1%/week for calls that are out of the money...