Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Feb 17, 2010 10:36:51 GMT -5
Good luck w/SRS Elle
It got some nice volume spikage at 10:12am, someone's betting 500K shares that around your entry point is the bottom
SPG also got some volume at its high (around 10:20-10:25) so I think the SPiGs used that as a nice opportunity to get the he!! out. Struggling to hold $76.25 here...
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Post by elle on Feb 17, 2010 10:49:00 GMT -5
Hey Elle, what ranges are you seeing today for the s&p When it this squeezy, trend lines don't work, just blows past them without even a pause. Did go to inner circle yesterday and at outer circle right now, so we'll see. SPY R3 112.63 50 110.99 25 110.01 R1 109.79 SPG R3 79.50 50 75.62 R1 74.18
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Post by elle on Feb 17, 2010 10:51:59 GMT -5
Good luck w/SRS Elle It got some nice volume spikage at 10:12am, someone's betting 500K shares that around your entry point is the bottom SPG also got some volume at its high (around 10:20-10:25) so I think the SPiGs used that as a nice opportunity to get the he!! out. Struggling to hold $76.25 here... 500K, was that all I put on?
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Post by elle on Feb 17, 2010 11:03:13 GMT -5
1097.29 fib 61.8
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Post by merrillstanley on Feb 17, 2010 11:11:23 GMT -5
Thx Elle!
we losing steam here on a:d...1.8:1...vol 3:2
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Post by elle on Feb 17, 2010 11:34:17 GMT -5
Merrill, fib didn't hold on the way down either. I'll double check the number because it should be a very sig level.
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Post by elle on Feb 17, 2010 11:36:23 GMT -5
Have a big support line here which I thought would be good resistance, but we jumped right over it. The PM really goofs things up some days.
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Post by merrillstanley on Feb 17, 2010 11:36:51 GMT -5
dare i say FAZ
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Post by merrillstanley on Feb 17, 2010 11:38:32 GMT -5
thx again elle
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Post by abdogman on Feb 17, 2010 11:45:45 GMT -5
Hi Guys Glad I found you GLTA
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Post by elle on Feb 17, 2010 11:56:31 GMT -5
Dogman! Yay!
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Post by elle on Feb 17, 2010 12:07:37 GMT -5
Redid the fib on my own (had used a fib calculator - 1097) to see if could find other levels. I don't do the final wick down when I draw them and the low of month was a super long tail. So I did on hourly. While I think the calc ones are probably best, these should still give S/R levels 61.8 1114 50 1104
Right on the razor's edge of circle, tried to move it to see if I could get more room, but couldn't.
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Post by elle on Feb 17, 2010 12:10:37 GMT -5
I have to go paint the bathroom, it's looking so cool. Hold 'er down, boys (the market, I mean)
Uka, eat your heart out - I'm a PIT TRADER. But I did come back to your table - those guys over there are bor-ing.
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Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Feb 17, 2010 12:14:46 GMT -5
Elle check out the 5-min chart for SPG, its 20ma was support until 11am when it broke w/volume, now its resistance - every 5-min candle since 11am has closed below the 20ma, which is now at $76 - I don't think SPG will see $76 again today...might short me some more here
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Post by merrillstanley on Feb 17, 2010 12:21:00 GMT -5
ITMS, long 109.75 after GAP fill...
wot up DOG
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Post by merrillstanley on Feb 17, 2010 12:37:36 GMT -5
look at the sheep and the vol spike in C
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Post by merrillstanley on Feb 17, 2010 12:44:47 GMT -5
xlf has diddly squat for vol for this point of the day
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Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Feb 17, 2010 12:45:43 GMT -5
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Post by merrillstanley on Feb 17, 2010 12:50:45 GMT -5
well done mikey, congrats,,,,again on the same boat as you at this time
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Post by abdogman on Feb 17, 2010 13:11:34 GMT -5
Merrill Yoh , things are better here i just got back from walking of all things......Dogs
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Post by merrillstanley on Feb 17, 2010 13:12:09 GMT -5
from ITMS:
SPDR S&P 500 ETF (NYSE:SPY) is showing mediocre strength today on the back of the light volume surge yesterday. The dollar is stronger as global fears remain. However, optimism over the U.S economy appears to be showing itself. Oil is flat along with gold today. Technically, the SPY ran into a wall between $110.35 and $110.50 today. Look for this to be a major resistance level in the coming days.
After a solid move up over the last few days, Apple Inc. (NASDAQ:AAPL) is pulling back. The NASDAQ is still positive, but AAPL remains down about $1.50 or .75%. The stock looks to be taking a break after the solid move higher in the previous few days. It is sitting on the 50ma and just above the 20ma on the daily chart. As long as it holds this level for the next few days, expect AAPL to go higher. Should it fail and come back below those two moving averages, watch out, AAPL could sell back to $190.00 very easily.
While the NASDAQ remains positive today, Amazon.com, Inc. (NASDAQ:AMZN) is very weak. After gapping higher yesterday into the 20ma on the daily chart, AMZN is pulling back. A possible bear flag is in play on the daily chart as well with a first target to the $110.50 gap window. The second target would be a move to a completion of the head and shoulder pattern at $108.00.
The overall market is trading on light volume again today. This was the case yesterday. Overall, a flat day is in order after such a large rally yesterday.
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Post by merrillstanley on Feb 17, 2010 13:29:51 GMT -5
Dog, that is great news, take it one easy step at a time
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Post by brosin on Feb 17, 2010 13:38:52 GMT -5
Very nice Mikey! Can't join you short at this point, but give me SPX 1200 and I'll be shorting the world for the next Bear Jamboree. I bet they're planning their party for around March 16 (next FOMC meeting).
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Post by abdogman on Feb 17, 2010 14:06:51 GMT -5
14:01 Fed officials mull 25 basis points discount rate rise, according to minutes - DJ
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Post by elle on Feb 17, 2010 14:23:23 GMT -5
Mikey, if you're SPG would just break that 50, I could catch a ride on the 20.
Thanks, Dog.
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Post by elle on Feb 17, 2010 14:36:01 GMT -5
Don't like this SPG action, looks like how they fake that they're going down and then the buy program comes in. Guess I better watch for awhile.
Where everybody go? Are we still on the other site?
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Post by kingdisco on Feb 17, 2010 14:38:00 GMT -5
We're here!!!! ahah.. fixed tracy's picture post lol
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Post by merrillstanley on Feb 17, 2010 15:25:06 GMT -5
here just needed to get my car from the shop....been an even trade day, waiting to see programs kick in here
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Post by merrillstanley on Feb 17, 2010 15:30:39 GMT -5
hate to beat a dead horse, but vol is just plain poor...then again its opex week, so what makes any sense
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Post by merrillstanley on Feb 17, 2010 15:33:33 GMT -5
Maria Bart is soooo bad....talks down on banks, downed planes...dies she ever have anything positive to say...
UK, very wise to visit the 'keys' during opex week
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