I agree rager. Doesn't seem to be able to break resistance at 1144-1150. What you think if it breaks that level (and closes) though, could run up to 1180 or even make a go at 1200.
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Yeah, it could run, but I'm guessing that it doesn't. I just don't see any volume in this market. I think we are in for a bird pattern. I also don't think the market will pull back all that far, maybe 5 %. I see a trading range here for a while until the healthcare stuff gets sorted out.Comment -
What a boring week this was. I'm still wating for the market to break down. It is right at the level of breaking out, or breaking down, and nobody wants to buy or sell. It is like everyone is waiting to see.Comment -
Look for this next week to be flat or negative as well.Comment -
It started to break down a little on Friday, so I stepped in with some very light shorts. The vix is so low right now, and the volume is so light, the only think working is the bank stocks, and that volume is obviously being tinkered with by the government. probably on the rumor of the U.S. getting ready to dump its shares in Citi. Even if it pulls back, I don't see much more than 5%, then a march back upto the 1150 area where will will do this all over again.Comment -
Agreed. The banks are worth watching for the next couple months. JPMorgan had some news too dealing with that Washington Mutual case. Citi also put out that huge goal for profits this week....see how it plays out.Comment -
This is agonizing. Gotta be ready on the trigger either way. Thinking about putting on rolling 1mo. short straddles or other non-directional strategies, collect some options premiums while we go nowhere.Comment -
It is like watching paint dry for the last couple of weeks. Maybe the FED will come out and say something stupid or atleast something that is a market mover, but I doubt it. This market will stay the same until the vote on Health care.
One of my very speculative stocks CAMH has moved nicely in the last couple of days, but it is a penny stock, and I don't have too many shares to catch wood on.Comment -
Yeah. Even if the fed raises the discount window rate another 1/4% like last time it should be a non-starter. In a sideways market gotta be a stock picker. I'm gonna put a small short straddle, maybe 500 contracts on each side, on SPY but not long dated as I am worried this thing could scream in either direction with a little catalyst.
Also, gonna put on a couple pair trades... I've been waiting to pair NKE on the long and UA on the short... Anyone have any other pairs?Comment -
Who is trading these days? Market is in coma (but negativity not allowed...).Comment -
Anyone here trade Forex??Comment -
I have dabbled in Micro Facepunch. The leverage is to high for me and I get killed overnight. I still make forex plays though etfs and foreign markets but they are more macro plays than anything.Comment -
Were you utilizing 10:1 or 100: 1 leverage.
It is great for when the market is not doing much.Comment -
This market is a super charged spring coil that is ready to break out to the high heavens. Choo ! Choo ! ALL ABOARD !!!!!!
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I own a few stocks. I lost like half what I had in the market in the crash and haven't checked back since. I don't plan on selling GE anytime soon, that's for sure.[quote=jjgold;5683305]I win again like usual
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[quote=Whippit;7921056]miami won't lose a single eastern conference game through end of season[/quote]Comment -
Doubled CYCC position 2.43 final buy. Looking for above 3 sale.Comment -
I have moved out of most of my positions either long or short. Right now I really only have small plays on short QQQQ, IWM, IBM and just today a real small amount of XLF. My long plays are even smaller than the shorts with a dog I'm waiting on called ENER, STP, and GE. I almost got out of GE when it ran up a couple of days ago and gave me the stop and get the eff out pattern, but since then it has been consolidating, and may have more legs. If the market springs down however, I will sell, all the longs in a heartbeat, and just add to the shorts while waiting for the SPY to sink to the 50 DMA before I look at longs again.Comment -
Choo! Choo! Chugga! Chugga! Choo! Choo!
Dow 11K
Here We Come !!
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it's time for a correctionComment -
Thursday 3/25/10 new position at market close in PKD, 10k shares @ $4.61. No sell target yet, and no stop set yet.Will update later today or Monday.
laterComment -
This market is on tranquilizers and anti-depressants. Didn't take long to get back to an artificial type of floating. I hope they let the air out soon.Comment -
Looking to get in LGF on the proposition that Ichan loses this proxy (which he will). Little over-covered in the financial media, hopefully a larger market downtrend can shake out some of these buyers.Comment -
getting ready to sell half of my CNH. bought it as a long term hold last year, but it has surpassed 3 bagger status for me already. got lock in some gainsComment -
If you have enough to make it work, buy some protective puts or covered calls if you want to stay in the trade.Comment -
Jerk.Comment -
I'm in official wait and see mode now. This market is floating along with no volume, even on this last break out, Gold prices have fallen so I will add to those, but everything else I am waiting until the pullback arrives. The vix is so low, along with the overbought conditions in the S&P, it just isn't worth it to go in here with large positions. I have so fun every day, but nothing too large.
If you like penny stocks give CAMH a look. Yeah it has double in the last month, but it has legs I think. Maybe it is worth a couple of grand on a speculative play for health care winners. Do your own DD and check it out.Comment -
Yeah I agree this thing is non-directional right now. But that just means that short straddles, pair trades work. Not that we disagree, just saying. The vix being so low makes for cheap as hell options too, so if you like something try the options as a way to play it while keeping capital risk to a minimum. But beware of options on stocks going into earnings right now, they are expensive regardless of a low vix.Comment -
Getting back into the SPY short straddle, this time a little bigger which could blow me out of the water. SPY... Positions:
Sell to open SPY 115 puts (4/17) x1000 @ .72/ea = $720
Sell to open SPY 120 calls (4/17) x1000 @ .4/ea = $400Comment -
economists are expecting March employment report to have a net gain of 190,000+ jobs. good luck long & shorts.
Last edited by nobull; 03-30-10, 01:37 PM.Comment -
A little crack in the armor today as it looks like the jobs numbers aren't going to be there in the next couple of days. It is still a wait and see, because they could just be giving us a head fake and then come in with a kick ass jobs numberComment -
Lot of buzz around these census jobs, and increases in the IRS are creating a false sense of "wellness" , Also have to be thinking that pre-midterm time frame they are going to start injecting all of that cash that they have been hoarding.
I have personally stopped trying to guess any direction or momentum, because the market is being manipulated so much, every day is a coin flip.
I have been focusing on currency as of late, and have made some decent coin on the collapse of the world monetary systems.
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