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Post by abdogman on Jul 13, 2010 9:28:31 GMT -5
BB's narrow on Eur 1m still
vix has crept slowly upward since 0940EDT
xlf 14.805 on 1m
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Post by cosmic on Jul 13, 2010 9:29:21 GMT -5
True, wish you the best on it. I am surprised it's moving so harshly counter to the trend. But if ever there was a day to do it, it's today.
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Post by ccash04 on Jul 13, 2010 9:29:38 GMT -5
lol I'm done w/that p.o.s. its all about the option and that huge open interest on $9. Someone isn't letting it go near there. Got there last thurs or friday and immediately got slapped down. Where any pop on volume gets quant'ed into oblivion. I guess Taj is right on MU - its only good for a .25-.35 scalp on a daily basis! GL That or look for the enormous amount of open interest and sell that strike and then sit back and watch someone else do the work for you.
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Post by ccash04 on Jul 13, 2010 9:30:33 GMT -5
True, wish you the best on it. I am surprised it's moving so harshly counter to the trend. But if ever there was a day to do it, it's today. I'm in for 200 contracts so I'm hoping for the best too ;D
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Post by cosmic on Jul 13, 2010 9:31:12 GMT -5
Odd with the Vix - not that it's moving up, but the impact on VXX. My VXX puts are up 14% today. Seems like they were holding back on the puts movement but it showed up today.
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Post by cosmic on Jul 13, 2010 9:32:03 GMT -5
Oops, now up 8.33% today lol
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Post by ukarlewitz on Jul 13, 2010 9:35:11 GMT -5
GS - as we've said, it has not been able to string two consecutive closes above the 20dma since The Event. Well, it has now and has just moved above the 50dma as well. Above the 50dma, institutions will buy. I'm not trying to cheerlead the market but you have to make sure you remove your bias; the market has been trending down and we have to be open to a possible trend change.
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Post by abdogman on Jul 13, 2010 9:37:20 GMT -5
BB's spreading slightly on 1m for eur its dropping xlf its at 14.77
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Post by cosmic on Jul 13, 2010 9:38:18 GMT -5
Agreed UK - we always have to look for a trend change. Regaining the MA's is helpful to understand. I do realize that the different MA's tend to mean different things to different traders. Is there a rule of thumb for each?
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Post by cosmic on Jul 13, 2010 9:49:45 GMT -5
My Cosmechanical trading manual says I have to sell the FAS calls if FAZ starts trading above 14.10 for any length of time - which is right around 1089 on SPX according to the last dip.
That was close. I timed how long we were below 1090, it was about 28 seconds.
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Post by jack on Jul 13, 2010 9:54:20 GMT -5
VIX leveling off but Euro's on a tear...SPY OBV @ hod and the ice cream man is outside ringing his bell.
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Post by abdogman on Jul 13, 2010 9:54:56 GMT -5
BB's narrowing on vix 1m xlf 14.81 on 1m macd pos for it and fas
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Post by cosmic on Jul 13, 2010 9:57:48 GMT -5
VIX leveling off but Euro's on a tear...SPY OBV @ hod and the ice cream man is outside ringing his bell. I would like a choco-taco please. (Those things are actually pretty good.)
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Post by jack on Jul 13, 2010 9:58:32 GMT -5
BB's narrowing on vix 1m xlf 14.81 on 1m macd pos for it and fas CHOKE THAT CHICKEN, Rog!!! ;D ;D ;D
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Post by cosmic on Jul 13, 2010 9:59:45 GMT -5
Thinking about AAPL - perhaps investors are nervous that any fix for the iP4 will cut into earnings?
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Post by abdogman on Jul 13, 2010 10:04:01 GMT -5
BB's on vix 1m spreading and vix is dropping BB's narrowing on Eur 1m xlf 14.82 on 1m
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Post by abdogman on Jul 13, 2010 10:06:53 GMT -5
Eur 1m Bb's spreading it is moving up xlf 14.84 on 1m
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Post by ukarlewitz on Jul 13, 2010 10:11:04 GMT -5
Breadth is strong, not surprisingly: 5:1 on both by issues, 7:1 vol on Nq and 16:1 vol on Ny.
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Post by drtracyb on Jul 13, 2010 10:12:33 GMT -5
"If you hang on long enough a bad trade will turn good...unless its ELON (or if it goes B/K.)" Funny, I've learned both ends of that lesson this year....
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Post by abdogman on Jul 13, 2010 10:23:19 GMT -5
1m BB's are narrowing on Eur,xlf,fas,faz
xlf 14.82 on 1m
vix has been moving down since 1045EDT
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Post by jack on Jul 13, 2010 10:22:35 GMT -5
"If you hang on long enough a bad trade will turn good...unless its ELON (or if it goes B/K.)" Funny, I've learned both ends of that lesson this year.... sorry...I won't tell your hubby though so your secret is safe with me. Anyone hear from waverrun lately? She's a good head.
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Post by cosmic on Jul 13, 2010 10:24:11 GMT -5
Ccash - something to think about... not sure how you're managing the position... but this close to opex, a lot of people will short that 250 call thinking the potential is that AAPL will not get above it based on size of countermove today. But if the MM's need shares, they'll surely move that strike ITM by opex.
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Post by rex on Jul 13, 2010 10:26:21 GMT -5
Breadth is strong, not surprisingly: 5:1 on both by issues, 7:1 vol on Nq and 16:1 vol on Ny.
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Post by rex on Jul 13, 2010 10:28:16 GMT -5
Funny, all the hype, gap ups, buying because of AA, yet AA is actually struggling compared to the rest of the market.
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Post by ccash04 on Jul 13, 2010 10:31:53 GMT -5
Ccash - something to think about... not sure how you're managing the position... but this close to opex, a lot of people will short that 250 call thinking the potential is that AAPL will not get above it based on size of countermove today. But if the MM's need shares, they'll surely move that strike ITM by opex. I'm managing by averaging down to a point, I'm not holding any longer than today. I'm fairly confident this is a gift, and if it gets to above 5 at all I'm out.
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Post by ccash04 on Jul 13, 2010 10:32:25 GMT -5
And now I'm ITM!... barely!
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Post by abdogman on Jul 13, 2010 10:33:07 GMT -5
eur 1m BB's spreading and Eur making new HOD BB's spreading on 1m for xlf fas faz xlf 14.87 it and fas on upper channel macd pos on 1m for xlf and fas
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Post by abdogman on Jul 13, 2010 10:34:29 GMT -5
Funny, all the hype, gap ups, buying because of AA, yet AA is actually struggling compared to the rest of the market. Rex, welcome and have an exhalt
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Post by cosmic on Jul 13, 2010 10:37:12 GMT -5
Funny, all the hype, gap ups, buying because of AA, yet AA is actually struggling compared to the rest of the market. The traditional action is sell the news. However a beat by AA, which is 'rare,' and means we need to watch for accumulation of AA... it's been beaten down pretty low (52 wk low recently?) I only played my call options overnight, I didn't trust it either
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Post by kryptos2009 on Jul 13, 2010 10:38:36 GMT -5
And now I'm ITM!... barely! I grabbed 5 july 260 calls @ 0.85 up 10% now Ccash, thx for the headsup on AAPL
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