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Post by sp7015 on Aug 24, 2010 10:48:10 GMT -5
Bottom of blue box is serving as resistance on aapl right now.
If we can break above $243 with expanding volume we should see aapl run pretty good from that level.
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Post by cashfilly on Aug 24, 2010 10:50:36 GMT -5
tails...caution...looks like tza may be the trade
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Post by abdogman on Aug 24, 2010 10:50:51 GMT -5
macd just went neg on xlf and fas 1m xlf 13.60 on 1m
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Post by abdogman on Aug 24, 2010 10:59:57 GMT -5
Going to Do Dogs and lunch back appx 1400EDT
Good Luck!!
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Post by ask2lern on Aug 24, 2010 11:01:55 GMT -5
Hi all..................my current SPY #'s R 106.19 S 105.99.................I am holding SPY PUTS.........GLTA
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Post by elkuta0380 on Aug 24, 2010 11:02:09 GMT -5
Don't play with fire here... once 105.85 on SPY breaks, the selling will start again... Don't worry about CF here Elk - she's in and out of 10-20 positions each trading day Thanks for the heads up... I was getting worried for my fellow fastopian... We look to be breaking below out of the bear flag formed on the SPY chart over the last 2 hours. I have SPY hitting 103 by tomorrow EOD and most likely 97 by next Friday... the road between 103 and 97 should be choppy.
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Post by jack on Aug 24, 2010 11:04:54 GMT -5
Convert Detroit into making industrialized housing complete with the "optional extra!"
VIX now on the upwsing & $ gaining...the beast breathes in and then it breathes out - and repeat.
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Post by cashfilly on Aug 24, 2010 11:05:16 GMT -5
Out and taking a break here...but looks like fas has some support here.....might be rangebound for lunch already...
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Post by ask2lern on Aug 24, 2010 11:18:22 GMT -5
My new SPY #'s R 116.15 S115.92.......................GLTA
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Post by ask2lern on Aug 24, 2010 11:30:34 GMT -5
Out of SPY PUTS....................GLTA
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Post by ukarlewitz on Aug 24, 2010 11:40:19 GMT -5
105 is a very big pivot S level. If we close above this today I think you will more likely see a few day to one week bounce. That is the pattern when a major level gets hit. That does not mean the market has bottomed and won't go lower. But it will more likely than not occur in waves. Similarly, 102 is the next S level and the same pattern should play out there.
Mean regression in Vix is another reason to expect this. I'll be looking at how TLT closes but right now that is a topping tail/shooting star.
The breakdown in BAC and JPM has been a tell. It's quite bearish if they can't regain 13 and 37 respectively. 60 and 25.5 are the similar numbers for iwm and smh.
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Post by brosin on Aug 24, 2010 11:42:59 GMT -5
The breakdown in BAC and JPM has been a tell. I've been trying to gauge whether it is more Credit Card fears or Housing fears. Seems more housing to my eye, but the CC fear looms large as well if double dip is on the table.
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Post by ask2lern on Aug 24, 2010 11:44:09 GMT -5
105 is a very big pivot S level. If we close above this today I think you will more likely see a few day to one week bounce. That is the pattern when a major level gets hit. That does not mean the market has bottomed and won't go lower. But it will more likely than not occur in waves. Similarly, 102 is the next S level and the same pattern should play out there. Mean regression in Vix is another reason to expect this. I'll be looking at how TLT closes but right now that is a topping tail/shooting star. The breakdown in BAC and JPM has been a tell. It's quite bearish if they can't regain 13 and 37 respectively. 60 and 25.5 are the similar numbers for iwm and smh. This would seem to support your thesis....................from http://www.optionmonster.com...................GLTA VIX pops as stocks head lowerAugust 24, 2010 Tue 10:00 AM CT The Volatility Index is up almost 8 percent to 27.60. It's off the highs of the morning near 29, which was the highest level since early July when the S&P 500 climbed off support at 1020. This is the move - at least part of it - that the VIX futures have been predicting. It also closes some of the premium gap between the spot VIX and the front VIX futures. September futures rose 4.1 percent to 30.2, while October and November futures both trade at 33.10, up 3 percent. This means that the VXX Short Term VIX futures ETN is up just 3.41 percent to $23.31 as it is made up of those two front-month contracts which carry those premiums. Futures still predict further increases in VIX, which would correspond to further declines in the SPX. But it is actually a good sign that the VIX remains below the futures and may be an indication that we are ready for a bounce. While the interest is high, now is not the time to go out buying hedges, at least not the very expensive traditional ones
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Post by ask2lern on Aug 24, 2010 11:46:13 GMT -5
My current SPY R 106.07 S 105.74...................GL
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Post by ukarlewitz on Aug 24, 2010 11:54:49 GMT -5
You rarely have a big well followed bank like BAC trading below its cash/share value without a reason, i.e., the liabilities side of b/s is in significant question. BAC is arguably no longer an investment stock but a speculative stock. You do not want Dow components becoming speculative; that's fine for the SPX 500 but not the Dow 30. Right now, there are zero sell ratings on that stock (21/28 are buy, 7/28 are hold). When we get sell ratings in numbers, that will have really bottomed.
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Post by ask2lern on Aug 24, 2010 11:59:10 GMT -5
You rarely have a big well followed bank like BAC trading below its cash/share value without a reason, i.e., the liabilities side of b/s is in significant question. BAC is arguably no longer an investment stock but a speculative stock. You do not want Dow components becoming speculative; that's fine for the SPX 500 but not the Dow 30. Right now, there are zero sell ratings on that stock (21/28 are buy, 7/28 are hold). When we get sell ratings in numbers, that will have really bottomed. And that is exactly how I am playing it as a spec..............Jan 2012 $10 Calls.............only 10 contracts..........................GL
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Post by cashfilly on Aug 24, 2010 12:06:07 GMT -5
Bye Bye, BAC
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Post by cashfilly on Aug 24, 2010 12:10:58 GMT -5
All I know about BAC is the settlement with the lapse in security on Countrywide to the tune of approx 50,000 each....Then the ceo came out and it did nothing for the stock...i have not heard what he said...also picked up on insider selling in bac...and with all the mtg discussions in the west wing...seriously...can u think of a poorer environment on top of everything else? Anyone have an updated component breakdown for FAS? my last one had jpm as largest holding followed by bac...now that gs has settled and bac has been weak for over a week....i'm sure this has been adjusted
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Post by ask2lern on Aug 24, 2010 12:17:06 GMT -5
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Post by cashfilly on Aug 24, 2010 12:17:17 GMT -5
Doug Kass liked BAC friday and said today continues to like Fast Money says sell fins
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Post by ukarlewitz on Aug 24, 2010 12:18:04 GMT -5
Spy has been holding vwap since 11a; 9 times out of 10 you will not see a lower low intraday when it can hold it for this long as the average long is green and the average short is red.
On it right now. This is the Cash 'W' pattern.
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Post by ukarlewitz on Aug 24, 2010 12:28:57 GMT -5
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Post by sp7015 on Aug 24, 2010 12:30:28 GMT -5
Same applies as I said yesterday. I am looking at aapl for an indicator. I want the stock to move off the lows and close up or at least show some buying at the end of the day.
I view it as a high quality stock and if it doesn't show any buying interest that means that funds are not buying this dip which isn't good.
I would at least like the stock to close above 243
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Post by ukarlewitz on Aug 24, 2010 12:32:48 GMT -5
HamzeiAnalytics Big Caps High Beta names with Bullish $w Put/Calls yfrog.com/ngvqcp
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Post by ukarlewitz on Aug 24, 2010 12:38:48 GMT -5
Carl long 1054. Market will now shit on itself.
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Post by deadmoney95 on Aug 24, 2010 12:38:57 GMT -5
argh, kiss of death:
Long one unit at 1054.50 from Carl Futia by Carl Futia
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Post by brosin on Aug 24, 2010 12:45:59 GMT -5
lol - I've never followed Carl (is he a real person or is that a fake name or something), but from the way you guys talk about him and show his trades...
How does he have any money left?
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Post by cashfilly on Aug 24, 2010 12:52:52 GMT -5
Aiming towards that lod... TZA 3rd green candle
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Post by ukarlewitz on Aug 24, 2010 12:56:50 GMT -5
Carl sold longs. Market will now resume eod rally.
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Post by clearwaters on Aug 24, 2010 12:58:02 GMT -5
lol - I've never followed Carl (is he a real person or is that a fake name or something), but from the way you guys talk about him and show his trades... How does he have any money left? Mustn't be much! carlfutia.blogspot.com/
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