Interesting day today. S&P and NAZ got beat down . . . probably due to China and the lack of buyers.
Financials remained damn strong though. Poor FAZ can just not catch a break. S&P down a good 8 points and FAZ was only up 30 cents or so. Which is not very good.
I guess financials have to rollover soon (I mean who the hell is buying BAC and JPM at these levels) but what do i know?
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To remove first post, remove entire topic.
So what does September have to offer for us?
Interesting day today. S&P and NAZ got beat down . . . probably due to China and the lack of buyers.
Financials remained damn strong though. Poor FAZ can just not catch a break. S&P down a good 8 points and FAZ was only up 30 cents or so. Which is not very good.
I guess financials have to rollover soon (I mean who the hell is buying BAC and JPM at these levels) but what do i know?
They tried several times early to push new lows, but as usual they bot back the market into the close, not a bearish end at all which doesnt shock me given the trading patterns lately.
I dont recall the last time we had two days of closing on the lows in months, technical trading has been bullish for a very long time.
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Todays action was very bullish.
They tried several times early to push new lows, but as usual they bot back the market into the close, not a bearish end at all which doesnt shock me given the trading patterns lately.
I dont recall the last time we had two days of closing on the lows in months, technical trading has been bullish for a very long time.
They tried several times early to push new lows, but as usual they bot back the market into the close, not a bearish end at all which doesnt shock me given the trading patterns lately.
I dont recall the last time we had two days of closing on the lows in months, technical trading has been bullish for a very long time.
Yeah you are right Wall . . . If you followed the following plan the last few days you could have made a ton.
Short at the open of the market in the morning.
Then once S&P sells down enough cover short position
then go long and ride back up.
Easy money. Of course I didn't do this but this trend has held very true to form.
The buy the dip crowd has been out in full force.
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Quote Originally Posted by wallstreetcappers:
Todays action was very bullish.
They tried several times early to push new lows, but as usual they bot back the market into the close, not a bearish end at all which doesnt shock me given the trading patterns lately.
I dont recall the last time we had two days of closing on the lows in months, technical trading has been bullish for a very long time.
Yeah you are right Wall . . . If you followed the following plan the last few days you could have made a ton.
Short at the open of the market in the morning.
Then once S&P sells down enough cover short position
then go long and ride back up.
Easy money. Of course I didn't do this but this trend has held very true to form.
The close really is the key. How many times did we see 100 pt plunges in August, only to see huge buying at the close.
still somewhat of a question who's getting "trapped" BUT I think Walls finally gets paid in his FAZ position. first time in weeks I have seen the fianacials and gamers really getting hit. lots of people made lots of $$$ on the long side this last two months, don't think those with profits and esp the "hedge hogs" are going NOT do some selling here
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The close really is the key. How many times did we see 100 pt plunges in August, only to see huge buying at the close.
still somewhat of a question who's getting "trapped" BUT I think Walls finally gets paid in his FAZ position. first time in weeks I have seen the fianacials and gamers really getting hit. lots of people made lots of $$$ on the long side this last two months, don't think those with profits and esp the "hedge hogs" are going NOT do some selling here
.A dose of reality setting in for the financials. Where is pistol pete?
Now now..we dont win that way here, you know that.
You are almost up 2 clams on your trade, I think you get more..maybe not today or tomorrow but history is a guide that when they brought up the market like this on low volume that they will take it back down to an extent.
What will be interesting is what dredge they slime up to spook everyone..probably the commercial RE markets and US debt or the lack of consumer spending..
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Quote Originally Posted by grapevinekid:
.A dose of reality setting in for the financials. Where is pistol pete?
Now now..we dont win that way here, you know that.
You are almost up 2 clams on your trade, I think you get more..maybe not today or tomorrow but history is a guide that when they brought up the market like this on low volume that they will take it back down to an extent.
What will be interesting is what dredge they slime up to spook everyone..probably the commercial RE markets and US debt or the lack of consumer spending..
retail bears are back shorting LVS. put in an ss @ TD well above the market and came back "no stock to loan". every time that's happend the last two months the shorts got smanked.
that being said, chart first support IF it breaks here looks like 10-11 area.
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retail bears are back shorting LVS. put in an ss @ TD well above the market and came back "no stock to loan". every time that's happend the last two months the shorts got smanked.
that being said, chart first support IF it breaks here looks like 10-11 area.
on a side note, it looks like CIT is in technical default on some notes. say they are "defering payment". stock got clipped to 1.44 BUT back above 1.50 with an hour and a half to go today. been a good trade in the 1.20-1.30 area the last month so worth watching.
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on a side note, it looks like CIT is in technical default on some notes. say they are "defering payment". stock got clipped to 1.44 BUT back above 1.50 with an hour and a half to go today. been a good trade in the 1.20-1.30 area the last month so worth watching.
I know your issue with time decay and premium, but if you went far enough in the money it would be ALMOST the same as shorting outright.
I am going back and forth on the smack-down close theory..part of me thinks they buy it back under -100, the other part is seeing selling resistance and when they try the sellers come back in and that could mean a sell down into the close..
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Rat,
You ever consider options versus SS the common?
I know your issue with time decay and premium, but if you went far enough in the money it would be ALMOST the same as shorting outright.
I am going back and forth on the smack-down close theory..part of me thinks they buy it back under -100, the other part is seeing selling resistance and when they try the sellers come back in and that could mean a sell down into the close..
.A dose of reality setting in for the financials. Where is pistol pete?
PistolPete's still right here. Haven't gone anywhere.
Come on, my comments on FAZ came two weeks ago, and the first big sell-off day for financials and now you come out of the woodwork?
This game ain't over by a LONG shot. China's economy is outright CRASHING and this is all the bears can muster? The bears have had so many opportunities to thwart this upward ascent and have FAILED.
And don't take solace that you're getting a sell-off on the heels of positive economic news (manufacturing data). This doesn't mean shit. A reading above 50 for the ISM means shit on September 1, 2009 because it's already priced in.
Please note, that never have I advocated buying financials--I'll leave that to the hedge fund managers who have missed out on this massive rally and only now, after a 50% run-up, are buying in.
I was simply advocating against buying 3X inverse ETF's like FAZ because they rape you--even if you're on the right side of the trade. You cannot trade FAZ as an investment, only as a swing trade. For FAZ to pay you off, you need a quick and precipitous decline down.
And I also made the point that financials still have room to run, moreso than the majority think. Don't confuse this with a BUY opinion.
Oh, a sell-off on September 1st, who saw this coming? I'm not buying this.
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Quote Originally Posted by grapevinekid:
.A dose of reality setting in for the financials. Where is pistol pete?
PistolPete's still right here. Haven't gone anywhere.
Come on, my comments on FAZ came two weeks ago, and the first big sell-off day for financials and now you come out of the woodwork?
This game ain't over by a LONG shot. China's economy is outright CRASHING and this is all the bears can muster? The bears have had so many opportunities to thwart this upward ascent and have FAILED.
And don't take solace that you're getting a sell-off on the heels of positive economic news (manufacturing data). This doesn't mean shit. A reading above 50 for the ISM means shit on September 1, 2009 because it's already priced in.
Please note, that never have I advocated buying financials--I'll leave that to the hedge fund managers who have missed out on this massive rally and only now, after a 50% run-up, are buying in.
I was simply advocating against buying 3X inverse ETF's like FAZ because they rape you--even if you're on the right side of the trade. You cannot trade FAZ as an investment, only as a swing trade. For FAZ to pay you off, you need a quick and precipitous decline down.
And I also made the point that financials still have room to run, moreso than the majority think. Don't confuse this with a BUY opinion.
Oh, a sell-off on September 1st, who saw this coming? I'm not buying this.
been there, done that with long puts and calls in my younger days, Walls, and I always seemed to LOSE. I know it's a GREAT stratagy IF you nail it BUT it's just not my style anymore. rather use the (I think) less risky go long or sell short the stock and keep my stops close.
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You ever consider options versus SS the common?
been there, done that with long puts and calls in my younger days, Walls, and I always seemed to LOSE. I know it's a GREAT stratagy IF you nail it BUT it's just not my style anymore. rather use the (I think) less risky go long or sell short the stock and keep my stops close.
interesting late rally in a little solar stock I keep on my stockwatch Evergreen Solar (ESLR- nasdaq). stock got clobbered with the rest of solar back in late July and has been in a steady driftdown ever since and esp the last two weeks. yesterday it opened up on news of a deal with a ChiCom manufacturer but then retreated with the rest of the market. today once again, up early and then retreat to 5 month low of 1.58 BUT came on with volume the last 15 mins to close @ 1.68.
looks like the stock is trying to base here. got up to $3 in June and could go there again IF the solars get back in play.
interesting late rally in a little solar stock I keep on my stockwatch Evergreen Solar (ESLR- nasdaq). stock got clobbered with the rest of solar back in late July and has been in a steady driftdown ever since and esp the last two weeks. yesterday it opened up on news of a deal with a ChiCom manufacturer but then retreated with the rest of the market. today once again, up early and then retreat to 5 month low of 1.58 BUT came on with volume the last 15 mins to close @ 1.68.
looks like the stock is trying to base here. got up to $3 in June and could go there again IF the solars get back in play.
Pete: I only made the comment above because of a shot you took at me in last month's trading thread after I bought FAZ. I haven't even read most of your posts but based on the few I've read it looks like you've got some strong opinions but you're more comfortable "ridin the fence".
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Pete: I only made the comment above because of a shot you took at me in last month's trading thread after I bought FAZ. I haven't even read most of your posts but based on the few I've read it looks like you've got some strong opinions but you're more comfortable "ridin the fence".
interesting late rally in a little solar stock I keep on my stockwatch Evergreen Solar (ESLR- nasdaq).
looking like the same setup today as yesterday in ESLR. got beat up early on low volume but now I'm seeing good level two numbers going into the last hour. played 10k @ 1.59 for a day trade.
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interesting late rally in a little solar stock I keep on my stockwatch Evergreen Solar (ESLR- nasdaq).
looking like the same setup today as yesterday in ESLR. got beat up early on low volume but now I'm seeing good level two numbers going into the last hour. played 10k @ 1.59 for a day trade.
As a result historic inequality in pay is still prevalent and the
neo-Gilded Age tycoons are raking it in. According to the report, a
generation ago top execs rarely earned more than thirty to forty times
the pay
of the average American worker. But now top execs make an average of
319 times more than the typical worker. For the top twenty financial
industry execs the divide is even greater -- 436 times more than the
average worker in 2008. In the past three years, the top five execs at
the twenty US financial firms receiving the most Bailout Bucks took
home pay
packages worth a staggering $3.2 billion -- an average of $32 million
each. In 2008 those cats averaged nearly $14 million each--even
though their twenty firms laid off more than 160,000 people since
January of
that year.
0
Food for thought..makes me feel warm and fuzzy
As a result historic inequality in pay is still prevalent and the
neo-Gilded Age tycoons are raking it in. According to the report, a
generation ago top execs rarely earned more than thirty to forty times
the pay
of the average American worker. But now top execs make an average of
319 times more than the typical worker. For the top twenty financial
industry execs the divide is even greater -- 436 times more than the
average worker in 2008. In the past three years, the top five execs at
the twenty US financial firms receiving the most Bailout Bucks took
home pay
packages worth a staggering $3.2 billion -- an average of $32 million
each. In 2008 those cats averaged nearly $14 million each--even
though their twenty firms laid off more than 160,000 people since
January of
that year.
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