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Post by ukarlewitz on Jul 16, 2010 13:09:06 GMT -5
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Post by elle on Jul 16, 2010 13:09:28 GMT -5
Maybe we had capitulation at the open and now they're just picking off the stragglers one by one.
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Post by abdogman on Jul 16, 2010 13:09:42 GMT -5
Abs, watching the BBs all the time, do you have a feel for which way they break? I'm running a little better than 60% on the charts you know i watch.
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Post by Clinton SPX on Jul 16, 2010 13:10:22 GMT -5
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Post by jack on Jul 16, 2010 13:11:04 GMT -5
Abs, watching the BBs all the time, do you have a feel for which way they break? I'm running a little better than 60% on the charts you know i watch. "Break?" I thought we broke already!
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Post by abdogman on Jul 16, 2010 13:11:08 GMT -5
That Is Cool , I bookmarked it!
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Post by abdogman on Jul 16, 2010 13:11:47 GMT -5
I'm running a little better than 60% on the charts you know i watch. "Break?" I thought we broke already! We sure did
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Post by elle on Jul 16, 2010 13:14:27 GMT -5
amazing, see how the slide pulls them apart so you can view
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Post by abdogman on Jul 16, 2010 13:14:39 GMT -5
Yesterday didn't CCash say to also watch the Aud/Jpy cross for a tell
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Post by jack on Jul 16, 2010 13:15:14 GMT -5
Call me crazy but I'd say offhand that Mr Market isn't all that crazy about Obama's FinReg Law.
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Post by elle on Jul 16, 2010 13:15:43 GMT -5
I'm running a little better than 60% on the charts you know i watch. "Break?" I thought we broke already! Like when your BBs tighten and you have to break out. I'm going to eat, hope big candles when return.
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Post by elle on Jul 16, 2010 13:16:57 GMT -5
This slide is not a bear flag intraday
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Post by jack on Jul 16, 2010 13:18:43 GMT -5
"Break?" I thought we broke already! Like when your BBs tighten and you have to break out. I'm going to eat, hope big candles when return. Mind clarifying that to "...big green candles..."? lol
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Post by ukarlewitz on Jul 16, 2010 13:19:14 GMT -5
Finviz keeps getting better and better. You can create your own portfolio and then screen it for any combination of fundamental/technical indicators, including candle patterns or d/t, d/b, etc.
Spy - time for the 38% fib perhaps. This is just a grind lower. tick -1000.
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Post by elle on Jul 16, 2010 13:19:15 GMT -5
iwm poking below support
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Post by abdogman on Jul 16, 2010 13:21:17 GMT -5
BB's spreading slightly on xlf fas faz and xlf fas on lower channel on 1m xlf at 14.18 on 1m
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Post by Clinton SPX on Jul 16, 2010 13:22:38 GMT -5
Finreg is no big deal, something is coming from Europe, Calf or Ill
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Post by abdogman on Jul 16, 2010 13:23:03 GMT -5
BB's stopped spreading on 1m for xlf fas faz for now xlf back up to 14.19 on 1m vix 1m bb's closing now
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Post by abdogman on Jul 16, 2010 13:28:03 GMT -5
at 1423EDT briefing.com
Relative sector weakness on the latest extension has come from Internet (GOOG), REITs IYR, Finance XLF / RKH, Disk Drive, Casino.
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Post by abdogman on Jul 16, 2010 13:28:49 GMT -5
BB's spread 2 mins ago on vix 1m and it has dropped
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Post by jack on Jul 16, 2010 13:31:52 GMT -5
Call me crazy but I'd say offhand that Mr Market isn't all that crazy about Obama's FinReg Law. Yesterday I thought that finalizing the FinReg Law would take the uncertainty of it out of the Market (and that the Market would rise). But now I realize that uncertainty is certainly out of the Market and that financial institutions will be, with 100% certainty, SCREWED (along with their customers who will with the same amount of certainty get new costs tacked on to them...and also be SCREWED.) ;D Bank of America: Big hit from regulatory overhaul By Alistair Barr Jul 16, 2010 13:53:00 (ET) SAN FRANCISCO (MarketWatch) -- Bank of America Corp. warned that it stands to sustain a multibillion-dollar hit from the impending overhaul of U.S. financial regulations, a factor contributing to selling pressure in the banking giant's shares Friday. Reforms that gained final congressional passage on Thursday, which President Barack Obama is expected to sign into law next week, include potential limits on debit-card interchange fees received or charged by issuers like Bank of America (BAC, Trade ). The fees are small charges that merchants pay Visa (V, Trade ) and MasterCard (MA, Trade ) for the right to accept cards run on their payment networks. Those fees are then passed on to card issuers such as major banks. Bank of America, which reported second-quarter financial results before Friday's bell, estimated this could knock as much as $1.8 billion to $2.3 billion off annual revenue generated by its Global Card Services business, starting in the third quarter of 2011. That "seemed like a pretty big decline," said Matt O'Connor, analyst at Deutsche Bank, during a post-results conference call conducted by company executives. Bank of America's card business carries $22 billion of goodwill on its books, partly from the $35 billion acquisition of MBNA, the Wilmington, Del.-based card giant, in 2005. Based on the estimated revenue hit from interchange-fee regulation, Bank of America said this goodwill may be impaired by $7 billion to $10 billion in the third quarter of 2010. Bank of America's shares fell more than 8% in afternoon action, with disappointment over its results a catalyst for the move move broadly lower on Wall Street. Other big card issuers lost ground as well. Shares of General Electric Co. (GE, Trade ) declined 3.9% to $14.65, Citigroup Inc. (C, Trade ) shed 3.9% to $4 and J.P. Morgan Chase (JPM, Trade ) lost 3.4% to $39.10. During Friday's conference call, Morgan Stanley analyst Betsy Graseck asked about what assumptions Bank of America used to estimate the $1.8 billion to $2.3 billion annual revenue hit from the new debit-card regulations. A Bank of America executive replied that the estimate was mainly driven by the company's interpretation of the new law. Interchange fees collected last year were worth nearly $50 billion, roughly 80% of which went to the 10 largest U.S. banks, including Bank of America, J.P. Morgan and Citi, according to the office of Sen. Dick Durbin (D., Ill.). The new rules limiting fees are known as the Durbin amendment. The final version of financial reform awaiting Obama's signature gives the Federal Reserve some leeway in how it regulates the fees. For instance, the Fed can adjust interchange fees if card-issuing banks can show that an increase is needed to cover fraud-prevention costs. However, a Bank of America executive said Friday that the Fed's rule-making flexibility on this amendment is "actually quite narrow," according to a transcript of the conference call with analysts. "They have some definitional opportunities there, but as we've assessed it, they don't have a lot of wiggle room in terms of being able to modify what's written in the amendment," the executive said.
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Post by jack on Jul 16, 2010 13:37:29 GMT -5
Call me crazy but I'd say offhand that Mr Market isn't all that crazy about Obama's FinReg Law. Yesterday I thought that finalizing the FinReg Law would take the uncertainty of it out of the Market (and that the Market would rise). But now I realize that uncertainty is certainly out of the Market and that financial institutions will be, with 100% certainty, SCREWED (along with their customers who will with the same amount of certainty get new costs tacked on to them...and also be SCREWED.) ;D I just wish that one time - ONE TIME before they fucked me - they'd kiss me first!
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Post by abdogman on Jul 16, 2010 13:37:45 GMT -5
macd just neg on 1m for xlf fas xlf at 14.18 on em
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Post by abdogman on Jul 16, 2010 13:38:37 GMT -5
BB's on Eur and Vix 1m just started to curl in
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Post by deadmoney95 on Jul 16, 2010 13:40:48 GMT -5
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Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Jul 16, 2010 13:41:48 GMT -5
Long BAC $14.00 (that was me that just bought 3M shares) Long GLD $116.3 Long FCX $59.98 Long PAAS $23.81 Long SLV $17.42
Only 1/3 long in my 401K and about 1/2 cash in my IRA.
No position in the trading account, took profits on all my short ETF's today GLTA!
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Post by abdogman on Jul 16, 2010 13:46:46 GMT -5
1.5 mil share grn candle spke in xlf last min xlf now 14.209 on 1m
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Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Jul 16, 2010 13:52:12 GMT -5
Long GOOG $461.02 Long F $11.39
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Post by cosmic on Jul 16, 2010 13:55:07 GMT -5
Mikey that's a bold move. I'm still seeing zero signs of liquidity in the market. Hats off to ya.
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Post by elle on Jul 16, 2010 13:55:12 GMT -5
Thinking of long PCX for earnings Tues. Haven't been trading it as doesn't trade as in the past. Used to be a wild and free stock, now just follows standard manipulations, but with lowered estimates after mine fall, thinking maybe a chance.
Also, thinking not trade anything else (long) til iwm cross next thurs/fri. Tired of being stopped out.
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