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Post by Rich on Apr 13, 2010 10:44:56 GMT -5
The big banks are all above support, most notably GS, although barely. I'll be watching these support lines closely. Can't really trust movement in GS. They're the head squid.
JPM, WFC most important, I think.
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Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Apr 13, 2010 10:45:48 GMT -5
Covered X earlier at $64.0 - then shorted more SPG at $86.58
Still 100% short 3x ETF's in IRA (DRV, FAZ, ERY, TZA)
Trading acct is 275% levered up: 200% short SPG in two lots avg $86.3 75% short TIE from $16.98
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Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Apr 13, 2010 10:47:38 GMT -5
Check out the huge tail and selling volume on the last 15-minute bar just printed on IYR - that's a reversa candle if I've ever seen one
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Post by cosmic on Apr 13, 2010 10:47:41 GMT -5
You forgot the rest of the warning label Uk:
You must buy the dip. The dip is your friend. The road to nirvana is lined with shallow dips and burned out inverse etfs. You will do this until one morning we surprise you with a reversal that cannot be explained. We will then fabricate appropriate news for the pullback. You will then be ruined attempting to average down.
In small print, it says:
Just write us a check now for all your cash, and report to food line.
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Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Apr 13, 2010 10:49:12 GMT -5
And UK, the wife and I cruised the Med with some friends last summer, stopped in Santorini for a day - awesome place, will have to post some photos...you thinking of going?
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Post by cosmic on Apr 13, 2010 10:53:57 GMT -5
I need 8.95 to print on URE
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Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Apr 13, 2010 10:54:21 GMT -5
The $23.65 mark is going to be tough for UUP, it's previous HOD and also the 50dma - you get through that you have gapfill at $23.70
I'm seeing flags on the currencies, crude, etc - I think they're heading down soon
SPG/IYR started dumping at highs of day when I noted that volume, but then came back up - now making a lower high - high's in for the day IMO as Carl would say
OK that's my brain dump for now gotta get back to work...
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Post by abdogman on Apr 13, 2010 10:55:05 GMT -5
xlf right on S2 at 16.51 //Fas macd neg momo neg
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Post by abdogman on Apr 13, 2010 11:01:02 GMT -5
Since the dogs have to take an SRS i am going on dog walk and get lunch back about 1330
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Post by ukarlewitz on Apr 13, 2010 11:03:33 GMT -5
You forgot the rest of the warning label Uk: You must buy the dip. The dip is your friend. The road to nirvana is lined with shallow dips and burned out inverse etfs. You will do this until one morning we surprise you with a reversal that cannot be explained. We will then fabricate appropriate news for the pullback. You will then be ruined attempting to average down. In small print, it says: Just write us a check now for all your cash, and report to food line. I expect the same jui jitsu event except I think it'll be even worse: You'll look back and see that the signs were there all along but you chose to ignore them, one by one, because only price pays.
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Post by ukarlewitz on Apr 13, 2010 11:07:04 GMT -5
Direxion needs a 3X Palm etf.
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Post by cosmic on Apr 13, 2010 11:08:33 GMT -5
Direxion needs a 3X Palm etf. That'd be one of the ones you only short the pops...
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Post by Dualism on Apr 13, 2010 11:09:52 GMT -5
12:10PM EST
2414 advancers to 4550 decliners. This goose is roasting nicely-)
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Post by cosmic on Apr 13, 2010 11:12:50 GMT -5
Dual there's no selling because there's no retail in the market. Banks own banks. Banks own tech. Tech owns banks. Banks own energy. Energy owns tech and banks. And so on, like Jenga. Since big money is playing the only game in town (while crushing bonds which is where ma and pa put their money - see Gross comments about mega inflows), they'll just run and run will the retail chases.
Then the cataclysm begins.
January 2011?
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Post by ukarlewitz on Apr 13, 2010 11:18:17 GMT -5
Further to yesterday's discussion about 2010-11 EPS forecasts which to my eye seem a bit high: On average, analysts’ forecasts have been almost 100 percent too high. Oops.
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Post by commodityypro on Apr 13, 2010 11:20:12 GMT -5
Whatever they are doing it's pissing me off.. lol
About to bail DRV if it keeps dropping. Getting close to my stop.
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Post by cosmic on Apr 13, 2010 11:21:08 GMT -5
Bros, it's unbelievable but it happened
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Post by deadmoney95 on Apr 13, 2010 11:28:46 GMT -5
FAS Me ;D
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Post by commodityypro on Apr 13, 2010 11:30:54 GMT -5
I was so wrong about today. Painful to watch, so I think I may sit on the sidelines again. GL!
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Post by ukarlewitz on Apr 13, 2010 11:31:22 GMT -5
ITms - stopped for another 20% loss, this time in SRS. That's one way to reduce your short exposure. Add to the lag heap, with Vxx and Bidu. Still holding shorts in RTH, Spy (SDS), and EEM (EDZ). Long DDSS, which only feels like a short.
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Post by brosin on Apr 13, 2010 12:11:06 GMT -5
Ugh I am quite frustrated here. Time to shut the platform off for a few hours before I do something stupid.
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Post by ukarlewitz on Apr 13, 2010 12:13:04 GMT -5
Vxx b/e stop. I will try again but I agree Opex is a tough week to do this.
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Post by abdogman on Apr 13, 2010 12:20:46 GMT -5
I see the elves have been busy while i was gone....... Xlf now at 16.59 ///macd has switched to pos Faz
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Post by botbotzot on Apr 13, 2010 12:21:40 GMT -5
Hell I could be wrong, but I still think Fas is a good short here for a scalp. It seems to be having problems getting above and holding 110.
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Post by abdogman on Apr 13, 2010 12:27:37 GMT -5
Fas/faz BB squeeze alert Xlf still 16.59 low vol last 5 or 6 min
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Post by abdogman on Apr 13, 2010 12:37:54 GMT -5
13:36 Israel issued earlier an "urgent" warning to its citizens to leave Egypt's Sinai Peninsula - AP
AP reported that the Israel issued an "urgent" warning to its citizens to leave Egypt's Sinai Peninsula immediately citing "concrete evidence of an expected terrorist attempt to kidnap Israelis in Sinai." The statement from the Israeli prime minister's anti-terror office took the unusual step of calling on families of Israelis visiting the Sinai to establish contact with them. Israel's anti-terror office has a standing travel advisory telling Israelis to stay out of the Sinai desert because of the threat of terror attacks. However, thousands of Israelis routinely ignore the warning and vacation in the desert and along its Red Sea coast. Egyptian security officials said about 35,000 Israelis are in the Sinai now, and they expected thousands more to arrive later this month. In the unusually strong statement, the Israeli anti-terror office called "on all Israelis residing in Sinai to leave immediately and return home. Families of Israelis residing in Sinai are asked to contact them and update them on the travel warning."
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Post by abdogman on Apr 13, 2010 12:41:38 GMT -5
xlf moving up 16.62 //macd pos for Fas //momo 0/0
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Post by elle on Apr 13, 2010 12:41:42 GMT -5
SPG R 88.40 IYR R 52.65
You could have knocked me over with a feather we would get anywhere close to those numbers today.
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Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Apr 13, 2010 12:50:49 GMT -5
Sector rotation time - had 1/2 my IRA in ERY, sold it at $9.30 up 2% today
Picked up DRV at $7.38 at a 6% discount to yesterday's price, now 50% DRV, 25% TZA and 25% FAZ
SPG appears stalled at $87.6 but I've thought that twice today - there were two nice high-volume reversal candles on the 15-minute chart (11:30 and 12:30) hopefully this one's for real...we're almost in 52-week high territory
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Post by abdogman on Apr 13, 2010 12:58:06 GMT -5
xlf appears to be on the top side of PP at 16.62
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