|
Post by abdogman on Mar 2, 2010 11:17:53 GMT -5
hey mikey GL today
|
|
|
Post by ukarlewitz on Mar 2, 2010 11:26:23 GMT -5
watch jjc, the copper etf. At 2/19 and yesterday hod.
copper - the commodity with a phd in economics. b/o obviously bullish.
|
|
|
Post by ccash04 on Mar 2, 2010 11:30:42 GMT -5
RIG, HAL, OIH have been on a tear today.
Selling 50 of my 100 RIG 85 Calls
|
|
|
Post by ukarlewitz on Mar 2, 2010 11:34:29 GMT -5
RIG, HAL, OIH have been on a tear today. Selling 50 of my 100 RIG 85 Calls Nice. RIG put in that beautiful bottoming candle (daily) on 2/25. Pierced that S hard but closed above. Others should take a look to see a perfect reversal candle.
|
|
|
Post by kryptos2009 on Mar 2, 2010 11:36:16 GMT -5
Uka,
Can you post a chart with commentary?
|
|
|
Post by ccash04 on Mar 2, 2010 11:39:35 GMT -5
Agreed, its been acting pretty strong today, yesterday was a different story but still I'm thinking its going to test the 85-86 area soon.. Assuming broader market is headed higher. I am using 10 BIDU 470 puts to help hedge a broader market drop. Plus BIDU is extremely overbought and I think it acts the same as GOOG did when it broke 600 (goes to 520-530 then retraces to 460 area.
|
|
Mikey
Broker/Dealer
Posts: 581
|
Post by Mikey on Mar 2, 2010 11:45:11 GMT -5
Covered DAL at $12.84, got 60c out of that short from yesterday, unfortunately the rest of them are kicking my a$$!!
X/AKS just made new highs - looks very squeezy...c'mon shorts show some commitment!! LOL
UK I agree on SPG, it's looking very weak, has gotten good selling volume the past 20 mins, will close overnight gap soon
|
|
|
Post by ukarlewitz on Mar 2, 2010 11:51:38 GMT -5
Vxx 25.12.
At the close today you might well have Vix at a low and the McClellan (nymo) overbought for just the third time since August.
Watching EEM at the 40.20-.4 R levels. Edz is the only one truly kicking my butt right now, the others are fine. Ok, ddss is kicking my butt that was not my fault! Others are more than offsetting.
|
|
|
Post by ukarlewitz on Mar 2, 2010 11:57:46 GMT -5
RIG daily: On 2/25 it made a perfect bottoming candle (we talked about it on this thread that day) - long down wick with the body in the top 1/4 and above the yellow R/pivot line from early Dec. Follow through the next day with a bullish candle. Now coming into R at the 200dma (red) and another pivot (from Nov and late Dec). Certainly a partial unload here and the rest if it can get to the mauve line (20dma).
|
|
Mikey
Broker/Dealer
Posts: 581
|
Post by Mikey on Mar 2, 2010 12:21:23 GMT -5
CREE dumping (finally)
SPG at 50hma which it has been above since early-Feb, would be a significant break IMO
I was reaching 8.5/10 on the capitulation scale...glad this pullback is coming
|
|
|
Post by ukarlewitz on Mar 2, 2010 12:24:12 GMT -5
UUP holding yesterday's lod (10m chart). It's in the middle of that gap.
Spy put in 6 10m candles that could not confirm a move to a new high.
I'm noticing a very loose correlation between vxx and vix - certainly not lock step as vxx is moving up and vix is at its lod.
|
|
|
Post by ukarlewitz on Mar 2, 2010 12:26:36 GMT -5
I was reaching 8.5/10 on the capitulation scale...glad this pullback is coming If you had capitulated, you know damn well we'd rocket higher.
|
|
|
Post by ccash04 on Mar 2, 2010 13:04:31 GMT -5
Sold rest of RIG calls @ .80
Does anyone watch BIDU? It's so overbought but just keeps going higher and higher. Some weakness today, should I add to my puts position? I think it retraces some of this move soon. Middle of the week and on has been weaker than beginning of the week recently.
|
|
|
Post by ukarlewitz on Mar 2, 2010 13:06:16 GMT -5
UUP one penny from gap fill. 23.64.
Update: Gap now filled.
This thread apparently needs more women traders. Every time they show up, attendance rockets. They leave, and its like Bodie.
|
|
|
Post by ukarlewitz on Mar 2, 2010 13:31:26 GMT -5
Very nice double top now in the Russ 2k (iwm). And trans has two high wick reversal candles on the daily at its prior high. Not that I'm at all bearish, of course. Don't let me become the new Commodityy.
|
|
|
Post by merrillstanley on Mar 2, 2010 13:58:34 GMT -5
lol UK, congrats to PCX longs
|
|
|
Post by ukarlewitz on Mar 2, 2010 13:59:01 GMT -5
I'm now banished to my own island to rant to myself all day.
Spy - there some volume behind this move to a new hod. Yikes. Needs confirmation otherwise it's just a high volume reversal. Do I sound like Commodityy yet? I didn't call it a key reversal.
IT - GS, X, AAPL and FCX all either at double top or gap fill resistance. Whatever.
Update: Spy volume follow up (red) also higher, in fact, higher than the the up volume. Strange that it can't get a close above 112.66. That level has been hit a dozen times today. EEM rallied right to its 50dma, and stopped.
|
|
|
Post by crumbdon on Mar 2, 2010 14:02:22 GMT -5
As your rants are far more valuable and informative than mine, by all means-please continue. Anyone know where cash and elle went?!? I think UK is onto something with that female trader thing....
|
|
|
Post by triggerhappy on Mar 2, 2010 14:19:33 GMT -5
key reversal now? Maybe I should change my screen name to a female one so you all feel better... :-)
|
|
Mikey
Broker/Dealer
Posts: 581
|
Post by Mikey on Mar 2, 2010 14:21:35 GMT -5
Still bullish on the dollar, believe it or not. Check the $80.4 level on the DX - it was tough resistance on the way up, now should be strong resistance due to the level itself and the rising MA. PCX is nuts! Glad I didn't try to short that one... X, AKS, and AAPL all starting to move in my direction. VXX and CREE...not so much Capitulation meter 8.0/10 Attachments:
|
|
|
Post by ukarlewitz on Mar 2, 2010 14:28:12 GMT -5
key reversal now? Maybe I should change my screen name to a female one so you all feel better... :-) I think we just need a cross dresser to show up.
|
|
|
Post by jack on Mar 2, 2010 14:29:56 GMT -5
key reversal now? Maybe I should change my screen name to a female one so you all feel better... :-) Trig, I hereby exalt you for having POed somebody here! LOL!!!
|
|
|
Post by ukarlewitz on Mar 2, 2010 14:33:28 GMT -5
Mikey, stick to your guns. You know you are a bit early but deadly, deadly I tell you, accurate.
Now USO putting in a nice daily reversal candle.
I'm green on both my vxx and sds today although I feel like I'm getting crushed. Need to decide on edz.
|
|
grant
Commodities Trader
dont forget to live your own life
Posts: 169
|
Post by grant on Mar 2, 2010 14:35:54 GMT -5
did someone call for a cross dresser? gaydar just went off.......
|
|
|
Post by triggerhappy on Mar 2, 2010 14:42:39 GMT -5
yeehaw! out of self-inflicted negative karma! :-)
|
|
|
Post by ask2lern on Mar 2, 2010 14:42:56 GMT -5
I'm now banished to my own island to rant to myself all day. Spy - there some volume behind this move to a new hod. Yikes. Needs confirmation otherwise it's just a high volume reversal. Do I sound like Commodityy yet? I didn't call it a key reversal. IT - GS, X, AAPL and FCX all either at double top or gap fill resistance. Whatever. Update: Spy volume follow up (red) also higher, in fact, higher than the the up volume. Strange that it can't get a close above 112.66. That level has been hit a dozen times today. EEM rallied right to its 50dma, and stopped. I am always a lurker your stuff is great......so it may seem you are talking to yourself but oh the wisdom share is cherrished.................2nd Exalt from me for the day....... Also thanks for the numbers on PALM....I set a limit at 6.31 and it got hit............GLTY
|
|
|
Post by crumbdon on Mar 2, 2010 14:46:25 GMT -5
UK-anything interesting standout on the tick patterns today? Haven't heard much about them from our resident tick expert.
|
|
|
Post by ukarlewitz on Mar 2, 2010 14:49:23 GMT -5
Spy vol with 70m to go is 40% of last Thursday's. We're on track for the low volume day of the year. Tutes are not participating in this run. You can see it in the tick which has barely cracked 1000 today. The daily candle formation today will be very telling of where we head next. Murphy is now getting bullish, another worrying sign. Strange that neither Oscar nor Carl has traded the last two days.
|
|
|
Post by triggerhappy on Mar 2, 2010 14:49:47 GMT -5
Yeah, I gotta do the same. Even when it is just Merrill, Mikey and UK, they bring sanity to an insane market. I'll exalt Merrill and Mikey when I can reload some Karma...
|
|
Mikey
Broker/Dealer
Posts: 581
|
Post by Mikey on Mar 2, 2010 14:52:28 GMT -5
Nice insight UK and trades Ask
CREE just went into FREE-fall...that's a fast mover
AAPL starting to head lower as well - Q's looking weak
I think a revisit to SPY's 20hma is in order - would also fill the overnight gap
Capitulation meter down to 6.5
Thanks guys for helping me get through
And spare us the crossdresser talk or Scott_Yes from the other FAS board will come over and get all excited
|
|