Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Feb 25, 2010 8:08:08 GMT -5
Just getting the thread started so we can discuss the futures, which are now BLOOD RED!!! Check out this link: quotes.ino.com/chart/?s=CME_ES.H10.E&v=w&w=60&t=c&a=12As well as this look at the S&P fibonacci retracement levels - looks like a textbook rollover after a 61.8% retracement to me: GLTA today!
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Post by kingdisco on Feb 25, 2010 8:21:15 GMT -5
i saw this as well. still think we're stuck in a range until proven otherwise. gl guys....
consumer confidence + GDP + Greece + Strong Dollar = need a little push to break new highs.
not that i read any news. HA
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lookingherethere
Broker/Dealer
"I am in me.." <In response to the possessed rumors>
Posts: 533
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Post by lookingherethere on Feb 25, 2010 8:23:51 GMT -5
Hi Mikey, short board today looking for a FAZ ride. Will switch up if necessary!
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Post by ukarlewitz on Feb 25, 2010 8:32:16 GMT -5
IT - Think the Spx will inch up today. Tons of S at 109.8-.9 and 111.50-.60 will be a good short area. GLD should bounce after gap fill yesterday (at 107.1). Curiously, they see the DX weakening to the 20dma. Will short USO at 41.
(The long tail on the UUP from yesterday looked dollar bullish to me and indeed it is trading up now).
Oscar - Short NQ at 1809 and short Euro at 1.355. No ES reco yet.
Cobra - tiny gap at 111.62-.68. Fill that then sell off.
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lookingherethere
Broker/Dealer
"I am in me.." <In response to the possessed rumors>
Posts: 533
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Post by lookingherethere on Feb 25, 2010 8:36:47 GMT -5
Released on 2/25/2010 8:30:00 AM For wk2/20, 2010 Prior Consensus Consensus Range Actual New Claims - Level 473 K 460 K 445 K to 500 K 496 K Market Consensus Before Announcement Initial jobless claims unexpected jumped a sizeable 31,000 to 473,000 in the week ended February 13 week after dropping 41,000 the prior week. There are important special factors possibly affecting the data but the Labor Department offered no explanation. An obvious probable factor was extremely heavy weather through most of the nation in the reporting week, and results from four states had to be estimated including the key states of Texas and California with holiday backlog in the latter having skewed prior reports. Count on lots of speculation on how snow storms over the past two weeks affected the numbers.
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Post by kryptos2009 on Feb 25, 2010 8:37:33 GMT -5
Good Morning Gang!! Here are the PP numbers for today. FROM: www.allpivotpoints.comXLF PP=14.55 R1=14.72 R2=14.81 R3=14.98 S1=14.46 S2=14.29 S3=14.2 O=14.39 H=14.65 L=14.39 C=14.63 SPY PP=110.56 R1=111.26 R2=111.7 R3=112.4 S1=110.12 S2=109.42 S3=108.98 O=110.14 H=111 L=109.86 C=110.82 SPG PP=77.74 R1=78.33 R2=79.13 R3=79.72 S1=76.94 S2=76.35 S3=75.55 O=77.99 H=78.54 L=77.15 C=77.53 GS PP=158.15 R1=159.43 R2=160.53 R3=161.81 S1=157.05 S2=155.77 S3=154.67 O=157.34 H=159.25 L=156.87 C=158.33 JPM PP=40.6 R1=41.21 R2=41.57 R3=42.18 S1=40.24 S2=39.63 S3=39.27 O=40.05 H=40.97 L=40 C=40.85 MS PP=27.63 R1=28.17 R2=28.52 R3=29.06 S1=27.28 S2=26.74 S3=26.39 O=27.27 H=27.98 L=27.09 C=27.83 C PP=3.423 R1=3.476 R2=3.503 R3=3.556 S1=3.396 S2=3.343 S3=3.316 O=3.37 H=3.45 L=3.37 C=3.45 VIX PP=20.69 R1=21.16 R2=22.05 R3=22.52 S1=19.8 S2=19.33 S3=18.44 O=21.23 H=21.58 L=20.22 C=20.27 FROM: www.mypivots.comUUP PP=23.72 R1=23.82 R2=23.88 R3=24.04 S1=23.66 S2=23.56 S3=23.4 O=23.74 H=23.78 L=23.62 C=23.76 FAS FAS PP=73.65 R1=75.77 R2=76.99 R3=80.33 S1=72.43 S2=70.31 S3=66.97 O=71.53 H=74.86 L=71.52 C=74.56 FAZ PP=18.05 R1=18.37 R2=18.95 R3=19.85 S1=17.47 S2=17.15 S3=16.25 O=18.63 H=18.63 L=17.73 C=17.79 FROM: www.nasdaq.comEconomic Events & Analysis - 2/25/2010 8:30 AM ET Durable Goods Orders 8:30 AM ET Jobless Claims 10:30 AM ET EIA Natural Gas Report 11:00 AM ET 3-Month Bill Announcement 11:00 AM ET 6-Month Bill Announcement 1:00 PM ET 7-Yr Note Auction 4:30 PM ET Money Supply GLTA
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Post by ukarlewitz on Feb 25, 2010 8:37:52 GMT -5
UUP - 23.88 is tough R. Watch for a reversal/pause. But (and this is the key) if it can confirm above then it will likely run all the way to 24.08.
Vix - gap at 19.94-20.06. Very close to reaching it yesterday. If we reverse today, look for this for VXX entry.
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Post by ukarlewitz on Feb 25, 2010 8:44:11 GMT -5
IT - short X (52.12), JDSU (10.3) and Brcm (31.65).
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Post by doglover on Feb 25, 2010 8:48:20 GMT -5
Thanks all and Good Morning.
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Post by abdogman on Feb 25, 2010 8:52:19 GMT -5
Kryptos thx for nmbrs ,mikey and uk for info and Good Morning Gang .. GLTA
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Post by kingdisco on Feb 25, 2010 8:55:52 GMT -5
Released on 2/25/2010 8:30:00 AM For wk2/20, 2010 Prior Consensus Consensus Range Actual New Claims - Level 473 K 460 K 445 K to 500 K 496 K Market Consensus Before Announcement Initial jobless claims unexpected jumped a sizeable 31,000 to 473,000 in the week ended February 13 week after dropping 41,000 the prior week. There are important special factors possibly affecting the data but the Labor Department offered no explanation. An obvious probable factor was extremely heavy weather through most of the nation in the reporting week, and results from four states had to be estimated including the key states of Texas and California with holiday backlog in the latter having skewed prior reports. Count on lots of speculation on how snow storms over the past two weeks affected the numbers. lol i love how when the numbers are bad there are special circumstances.
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Post by ukarlewitz on Feb 25, 2010 9:01:00 GMT -5
Carl - The ES has given back all of yesterday's rally plus a little more. My best guess is that the low at 1090.25 will be taken out briefly. I see support near 1086. I am going to estimate today's day session range as 1086-1100.
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Post by ukarlewitz on Feb 25, 2010 9:03:54 GMT -5
Hmm, GLD back to gap fill in PM. I'm not a goldbug. Anyone with a view?
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Post by kingdisco on Feb 25, 2010 9:07:10 GMT -5
Hmm, GLD back to gap fill in PM. I'm not a goldbug. Anyone with a view? i don't think gold's proven itself ready for a move higher. i think small pullback consolidation then ZOOOOOM but mikey's has some good thoughts on gold
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Post by elle on Feb 25, 2010 9:08:50 GMT -5
I can't believe futures still down this am. There were this low last night - Rich and I (both short) were grooving to Richard Hawley and watching them slide.
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Post by merrillstanley on Feb 25, 2010 9:15:18 GMT -5
Good Morning, Here is your Merrill Morning Minute: FAZ bias this morning, Hold on one minute, The dead horse I’ve been beating has turned into dust…I have moved on to another dead horse and am beating that one just as severly….There is no Volume, no tute part, if there is any, it is very light….very worried as I’m seeing bearish candlestick patterns as well, we’re beginning to make railroad tracks again in sector specific charts….not a good sign and the last time that happened the markets plummeted Barely at or missing 50 dma across the indices, how many times can the markets revisits this and fail before the markets really tank Tute participation ratings still stuck on “E” Remember we’re still in a correction. Stop your losses at 7%; take gains earlier than you normally would. Bottoms may not have been made. Being in cash is not a bad thing…else short the market Glad I did nto hold FAS overnight Keep your eye on support levels, you never know when (or why for that matter) buying volume will come into play GLTA
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Post by elle on Feb 25, 2010 9:15:42 GMT -5
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Post by merrillstanley on Feb 25, 2010 9:15:59 GMT -5
S&P futures vs fair value: -10.70. Nasdaq futures vs fair value: -14.00. Stock futures have dropped to their morning lows in response to the latest dose of economic data, which included a 3.0% increase in January durable goods orders. The increase was much sharper than the 1.5% increase that had been widely expected and marked an acceleration from the upwardly revised 1.9% increase in the prior month. Excluding transportation, orders actually slipped 0.6%, which is a disappointment relative to the 1.0% increase that had been widely anticipated after an upwardly revised 2.0% increase in the prior month. Initial jobless claims for the week ended Feb. 20 totaled 496,000, which is worse than the 460,000 initial claims that had been expected and marks an increase of 22,000 from the previous week. Continuing claims came in at 4.62 million, which is worse than the 4.57 million continuing claims that had been expected and marks an increase from the upwardly revised 4.61 million continuing claims that had been filed the week before. Stocks had a strong finish to the previous session, but weakness among overseas markets and a rebound by the greenback have weighed on stock futures this morning. As a result, a firmly lower start for the major U.S. equity averages looks to be in order. Still to come, though, are plenty of catalysts for trade. Specifically, weekly jobless claims results are due at the bottom of the hour, along with durable goods orders numbers for January. At 9:00 AM ET Fed Chairman Bernanke will testify about the U.S. economy and monetary policy before the Senate Banking Committee. His comments are expected to reflect those given to the House Financial Services Committee yesterday. An index for housing prices during December will follow at 10:00 AM ET and results from an auction of 7-year Treasury Notes are due at 1:00 PM ET.
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Post by elle on Feb 25, 2010 9:26:17 GMT -5
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Post by ukarlewitz on Feb 25, 2010 9:26:38 GMT -5
You play harmonica?
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Post by merrillstanley on Feb 25, 2010 9:29:36 GMT -5
S&P futures vs fair value: -12.30. Nasdaq futures vs fair value: -15.00. Europe's major bourses have extended their losses in the wake of a disappointing U.S. jobless claims number. According to media, their initial weakness had stemmed from word that Moody's said ratings changes for Greece hinge on whether the country's fiscal reform plans are run smoothly. However, those comments do not reflect any sort of new sentiment regarding the matter, and come one day after Standard & Poor's said that a downgrade of one or two notches for Greece is possible within a month. Nonetheless, weakness is widespread in Europe. As such, declining issues outnumber advancers by 5-to-1
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Post by worldclass422 on Feb 25, 2010 9:31:54 GMT -5
Good Morning, Thanks to all for your great input. As always, good luck to everyone.
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Post by elle on Feb 25, 2010 9:34:07 GMT -5
I'm so frustrated with TDA, still can't get in. Have no idea what's happening except for CNBC scroll.
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Post by ukarlewitz on Feb 25, 2010 9:34:23 GMT -5
fslr hit the line from the chart yesterday. The March low.
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Post by Clinton SPX on Feb 25, 2010 9:37:06 GMT -5
XLF is going to 14.00
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Post by ukarlewitz on Feb 25, 2010 9:44:05 GMT -5
Oscar covered NQ at 1782. Nice. He's 2 for 2 the last two days. He often gets the direction wrong but he frequently trades very well. Yesterday, he was wrong on the market and made a great trade anyways. Carl was right on the market and also made a great trade so Carl v Oscar was a draw. On to round two.
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Post by ukarlewitz on Feb 25, 2010 9:46:31 GMT -5
MS - there have been 5 good trades between 27 and 28 this month.
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Post by Clinton SPX on Feb 25, 2010 9:49:06 GMT -5
I'll repost this chart from 2 days ago Attachments:
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lookingherethere
Broker/Dealer
"I am in me.." <In response to the possessed rumors>
Posts: 533
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Post by lookingherethere on Feb 25, 2010 9:49:18 GMT -5
Wow
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Post by elle on Feb 25, 2010 9:49:43 GMT -5
fork midline 1083.50
gap 1079
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