|
Post by brosin on Oct 24, 2010 23:22:42 GMT -5
from Brian Shannon @ Alphatrends.netOnly Price PaysThe stock market is in an uptrend. The Nasdaq 100 (QQQQ) is at levels not seen since December of 2007, the S&P 500 (SPY) is within 5% of the year high and Semiconductor stocks (SMH) are consolidating under a key level (29) which if broken should lead to a quick move up towards 30-30.50. The financials (XLF) remain the thorn in the side of equity bulls while they also remain the hope that bears hold onto. Hope doesn’t pay in the market, only price pays. The financials are locked in a range that only offer trading opportunities to those who are willing and able to decipher the constant flow of news (noise) about what is wrong with our economic system and at the same time have hair trigger reflexes to trade the reaction to that news. To me, the financials as a viable trading group, have been dead for most of 2010, I view them as an interesting distraction to the many bullish setups that have been presented to us. One day it may matter, but until then our focus is better spent on the reality of price action. Think back to last year and the constant noise about the “second shoe” to drop which would lead our economy into a depression. That second shoe, of course, was the commercial real estate group (IYR) which closed at a new 52 week high today and up 22% YTD. That second shoe has been kicking the shit out of bears for two years now. The market will always give us reasons to believe the glass is half empty, but traders need to focus on what is, not what they think it should be, leave that to the guys who run billions. The trends are what matter, not the reasons for them, until they end and that is why risk management is job 1! I like the way @toddsullivan wrote about perma bears “They will always be negative. While they provide value in that they will present the “devils advocate” argument in every situation, theirs is more an academic discussion rather than an actionable one.” Until this market breaks below key support levels and the moving averages start rolling over, the market should be considered “innocent until proven guilty”.
|
|
|
Post by ask2lern on Oct 25, 2010 6:26:42 GMT -5
Morning Gang!!...............BROS thanks for getting us going and congratulations on your Fastopian Promotion ............... I have a lot going on today so probably wont be online much……. Here are the pivots……….…hope everyone has a great day …………………GLTA XLF R3 14.88 R2 14.75 R1 14.67 PP 14.62 S1 14.54 S2 14.49 S3 14.36 SPY R3 119.35 R2 118.82 R1 118.59 PP 118.29 S1 118.06 S2 117.76 S3 117.23 GOLD R4 1342.30 midpoint 1339.85 R3 1337.40 midpoint 1334.95 R2 1332.50 Midpoint 1331.55 R1 1330.60 midpoint 1329.10 PP 1327.70 midpoint 1326.65 S1 1325.70 midpoint 1324.20 S2 1322.70 midpoint 1320.25 S3 1317.80 midpoint 1315.35 S4 1312.90 SILVER R4 23.60 midpoint 23.55 R3 23.49 midpoint 23.44 R2 23.38 midpoint 23.37 R1 23.35 midpoint 23.31 PP 23.27 midpoint 23.26 S1 23.24 midpoint 23.20 S2 23.16 midpoint 23.11 S3 23.05 midpoint 23.00 S4 21.94 IMW R3 71.42 R2 70.79 R1 70.55 PP 70.16 S1 69.92 S2 69.53 S3 68.90 TNA R4 56.37 midpoint 55.71 R3 55.05 midpoint 54.39 R2 53.73 midpoint 53.49 R1 53.24 midpoint 52.83 PP 52.41 midpoint 52.17 S1 51.92 midpoint 51.51 S2 51.09 midpoint 50.43 S3 49.77 midpoint 49.11 S4 48.45 TZA R4 24.64 Midpoint 24.33 R3 24.03 midpoint 23.72 R2 23.42 midpoint 23.23 R1 23.03 midpoint 22.92 PP 22.81 midpoint 22.62 S1 22.42 midpoint 22.31 S2 22.20 midpoint 21.89 S3 21.59 midpoint 21.28 S4 20.98 SDS R3 27.91 R2 27.67 R1 27.52 PP 27.43 S1 27.28 S2 27.19 S3 26.95 ………………………..GLTA
|
|
|
Post by ask2lern on Oct 25, 2010 6:32:54 GMT -5
From www.optionmonster.com ..............................GLTA Nasdaq 100 close to bullish patternOctober 25, 2010 Mon 6:11 AM CT The Nasdaq 100 on Friday was again the upside leader as it has been now for several weeks. However, it did not manage to close above last week's high at 2105.7. A breakout above that level would trigger a small bullish "triangle" pattern that would have a potential upside to about the 2160 area. For the S&P 500 and the Russell 2000, it was another day of churn at higher levels. Since each index has a much broader representation of company types, both indexes can flatten out if not all sectors are firing on all cylinders. On Friday the materials and financials underperformed. As a result, other than an update to the 10-day moving average for the S&P 500, there are no major changes in levels. Nasdaq 100 (NDX) First support is at 2097.73. First resistance is at 2105.7. For the Nasdaq 100 Index Tracking Stock (QQQQ) first support is at $51.50. First resistance is at $51.72. S&P 500 (SPX) First support is at 1175.53, the 10-day moving average. First resistance is at 1185.53. For the Standard & Poor's Depository Receipts (SPY) first support is at $117.61, the 10-day moving average. First resistance is at $118.67. Russell 2000 (RUT) First support is at 690.11. First resistance is at 710.64. For the iShares Trust Russell 2000 Index Fund (IWM) first support is at $68.95. First resistance is at $71.14. By: Bryan McCormick
|
|
|
Post by ask2lern on Oct 25, 2010 6:36:25 GMT -5
From www.optionmonster.com .........................GLTA Home sales take center stage todayOctober 25, 2010 Mon 6:02 AM CT There is just one report scheduled for today, and that is Existing Home Sales at 10 a.m. ET. Unit sales are expected to grow to 4.3 million units, up from the previous 4.13 million. At the low end, a bearish 4 million units are forecast, while the most optimistic estimate is for a bullish 4.6 million units at the high. Homebuilding stocks as well as banks with major mortgage businesses such as Bank of America, Citigroup, JP Morgan, and Wells Fargo may be active on the release.
|
|
|
Post by ask2lern on Oct 25, 2010 6:37:27 GMT -5
Late day Friday post on Stocktwits
ukarlewitz Cobra: Monday bearish. Today was an 'all up day' ($SPY, $DX, $WTIC, $AGG and $GOLD are up). No exception the next trading days are all red Oct. 22 at 4:07 PM
|
|
|
Post by jack on Oct 25, 2010 8:16:29 GMT -5
Food for Thought (before the open)
Investment tip
If you had purchased $1,000 of shares a couple years ago in:
1. Delta Airlines, you will have $49.00 today. 2. AIG, you will have $33.00 today. 3. Lehman Brothers, you will have $0.00 today.
But, if you had purchased $1,000 worth of beer one year ago, drank all the beer, then turned in the aluminum cans for recycling refund, you will have received $214.00.
Based on the above, the best current investment plan is to drink heavily & recycle.
It is called the 401-Keg.
I addition to the above a recent study found that the average American walks about 900 miles a year. Another study found that Americans drink, on average, 22 gallons of alcohol a year. That means that, on average, Americans get about 41 miles to the gallon!
Makes you proud to be an American!
: )
|
|
|
Post by jack on Oct 25, 2010 8:19:19 GMT -5
Thought I'd pass along this note from Cashfilly...don't think she'd mind:
"By the way, if spy hits r3, which is 119.12....look for it to run up violently and fall just as quick...that would crate a dt....on the high signaling an upcoming drop....set up for it....could happen...but you know the market...set ups are made to be broken.....119 would equate to a 24+ fas.....me and my guesses......if fas continues to fall i'd think the open would give us a dt green for a nice pop....only if we get red on the last candle prior to open....not to mention a ton of premarket interest in buying...."
GL
|
|
|
Post by jack on Oct 25, 2010 8:20:19 GMT -5
From www.optionmonster.com .........................GLTA Home sales take center stage todayOctober 25, 2010 Mon 6:02 AM CT There is just one report scheduled for today, and that is Existing Home Sales at 10 a.m. ET. Unit sales are expected to grow to 4.3 million units, up from the previous 4.13 million. At the low end, a bearish 4 million units are forecast, while the most optimistic estimate is for a bullish 4.6 million units at the high. Homebuilding stocks as well as banks with major mortgage businesses such as Bank of America, Citigroup, JP Morgan, and Wells Fargo may be active on the release. C up 3% on a GS upgrade - projects it to rise 34% in a year (Yayyyyyyyyyyyyyyyyy!!!!)
|
|
|
Post by abdogman on Oct 25, 2010 8:22:06 GMT -5
Good Morning Gang......Bros,Ask,Jack thx for nmbrs info and Laugh!!!!
GLTA!
|
|
|
Post by deadmoney95 on Oct 25, 2010 8:24:53 GMT -5
Morning all, and thanks as always.
Carl F:
December S&P E-mini Futures: Today's range estimate is 1181-95. I believe the ES has started a breakout move that will carry it above the April top at 1216 over the next two or three weeks.
|
|
|
Post by jack on Oct 25, 2010 8:31:36 GMT -5
Holy crap!!! Even MVIS is up a cent at the moment!!!
|
|
|
Post by abdogman on Oct 25, 2010 8:34:22 GMT -5
xlf 14.74 on1m
|
|
|
Post by abdogman on Oct 25, 2010 8:40:14 GMT -5
BB's spread on 1m xlf ...range 14.7783-14.5406 xlf 14.72 on 1m macd + on 1m xlf fas
|
|
|
Post by abdogman on Oct 25, 2010 8:46:40 GMT -5
macd on neg side of 0/0 lline for last 3 m on 1m xlf fas xlf 14.71 on 1m BB's narrowing slowly oon 1m xlf fas faz
|
|
|
Post by abdogman on Oct 25, 2010 8:50:44 GMT -5
xlf 14.68 on 1m
|
|
|
Post by abdogman on Oct 25, 2010 8:57:35 GMT -5
Bb's narrow to .04 range on 1m xlf macd near 00 on 1m xlf fas faz xlf 14.71 on 1m
|
|
|
Post by crumbdon on Oct 25, 2010 8:58:26 GMT -5
WOW, what a shocker. Financials hated. Again.
|
|
|
Post by jack on Oct 25, 2010 9:00:39 GMT -5
WOW, what a shocker. Financials hated. Again. (forgot the "sarcasm" TM?) LOL!!!
|
|
|
Post by deadmoney95 on Oct 25, 2010 9:08:39 GMT -5
WASHINGTON (MarketWatch) -- Existing-home sales in September climbed 10% to a seasonally adjusted annual rate of 4.53 million, the National Association of Realtors said Monday. August sales was downwardly to 4.12 million from 4.13 million. Economists polled by MarketWatch expected sales to climb to 4.39 million in September.
|
|
|
Post by clearwaters on Oct 25, 2010 9:09:40 GMT -5
I am starting to feel bullish, and since I am a perma-bear and a contrarian indicator, this must mean the market is about to tank.
|
|
|
Post by abdogman on Oct 25, 2010 9:25:28 GMT -5
Looks like the market is waiting for news........what news.........xlf 14.695 on 1m
|
|
|
Post by abdogman on Oct 25, 2010 9:32:41 GMT -5
macd neg now on 1m xlf fas xlf 14.65 on 1m
|
|
|
Post by abdogman on Oct 25, 2010 9:37:59 GMT -5
Bb's spreading now on 1 m xlf fas faz xlf fas on 1m on bottom band xlf 14.6355 on 1m
|
|
|
Post by jack on Oct 25, 2010 9:42:08 GMT -5
A L E R T
Obama yapping again about "Wall St Reform" it being so necessary
|
|
|
Post by abdogman on Oct 25, 2010 9:48:22 GMT -5
BB's narrowing now on 1m xlf fas faz macd barely + on 1m xlf fas xlf 14.64
|
|
sabin26
Commodities Trader
Posts: 103
|
Post by sabin26 on Oct 25, 2010 9:52:05 GMT -5
Quick in and out of TZA for a ~1.5% scalp, figured HK's green line of resistance would knock TNA into at least temporary reality And props to Ask as well for today's pivots (: Attachments:
|
|
|
Post by deadmoney95 on Oct 25, 2010 9:52:38 GMT -5
ukarlewitz $SPY Tick -1270 - a very low tick as SPY hits 119. The top is the 200week MA and the Bollinger band top fsc.bz/89P
|
|
|
Post by abdogman on Oct 25, 2010 9:59:57 GMT -5
xlf 14.63 on 1m macd neg on 1m xlf fas
|
|
|
Post by Rich on Oct 25, 2010 10:02:41 GMT -5
drn is selling the news
|
|
|
Post by abdogman on Oct 25, 2010 10:05:38 GMT -5
BB's spreading on 1m xlf fas faz xlf fas on 1m on bottom band macd neg on 1m xlf fas xlf 14.61 on 1m
|
|