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Post by worldclass422 on Feb 18, 2010 13:55:10 GMT -5
Thanks UK, right back at 'ya. I'm still learning how this site works.
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Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Feb 18, 2010 14:00:40 GMT -5
Covered 1/2 DDR $9.53
Short PCX $17.14
Added VXX $28.4
SPY at 200hma, $110.6 SPY double top and $1,101 e-mini double-top resistance, and we still have the weekend gap up from $108.0 that needs to fill - odds favor a pullback here (PCX has gap to fill down at $16)
Only concern (as always) is the PPT and the afternoon GS/SPG pumpfest, but GS is looking especially weak. Will be watching those two closely and may unload my SPG shorts if it looks like funny business (approaching new highs now) - will set stop at $76.9 and let it take me out - yesterday I was watching this $76.6-76.8 band of resistance which was strong in the Jan 10-20 timeframe
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Post by maxi on Feb 18, 2010 14:05:50 GMT -5
To whom ever it was that gave me a Karma. Thanks much! Hi WC I am giving you an exhalt right now I had to wait an hour
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Post by worldclass422 on Feb 18, 2010 14:11:03 GMT -5
Very odd since a small plane did the same right after take off yesterday. Banked to the left instead of the flight plan to right. Here i think inCA but not sure if i am remembering where this was. Maxi, You're right about the small plane yesterday. The crash was in Palo Alto. The plane carried 3 people from Tesla Motors. It hit a house and all aboard the plane were killed. As you may know, Tesla Motors is a local business, they make electric cars. Very sad!
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Post by ukarlewitz on Feb 18, 2010 14:12:35 GMT -5
Carl long again at 1099. Here's his update:
The market's trading range has been unusually narrow the past two days. Even so, the ES continues to creep higher. I think this means that sellers prefer to wait for higher prices before becoming aggressive again. Why?
Note that 1103.50 and 1101.50 were high points of substantial rallies that ended on January 28 and February 2 respectively. The fact that the market has not run away from these previous high points (yet) contrasts with its action the last two times it traded at these levels. This is what makes me think that sellers are waiting for higher prices.
As we try to push past 110.5 again, see if we confirm the b/o with a second 10m close above. Also, if Carl is expecting sellers higher up, that means any 'rally' will be short lived. I think he might be right but I also think that there is a dearth of buyers. Interesting to me that Oscar has been so inactive in the past few weeks.
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Post by kryptos2009 on Feb 18, 2010 14:21:51 GMT -5
Nice, move up in FAS happening now
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Post by ukarlewitz on Feb 18, 2010 14:27:19 GMT -5
110.99 is the 50dma and the 62% retrace plus R from December. So, while this move looks very bullish, there is a lot of R here to get through. (Read: good shorting area coming up). That 50dma on Spy is now declining for the first time since March as we head into it, making it much tougher to cross.
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Post by kryptos2009 on Feb 18, 2010 14:30:01 GMT -5
XLF almost hit R2
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Post by ukarlewitz on Feb 18, 2010 14:35:46 GMT -5
SDS 35 flat (Spy 110.85)
Check in later.
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Post by kryptos2009 on Feb 18, 2010 14:37:48 GMT -5
XLF hit R2
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Post by merrillstanley on Feb 18, 2010 14:47:29 GMT -5
the only way we'll push thru these R levels, is thru tute participation, and without them, we're living on fumes...
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Post by abdogman on Feb 18, 2010 14:51:55 GMT -5
my mistake
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Post by elle on Feb 18, 2010 14:59:35 GMT -5
Hello Boys
(and Maxi)
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Post by merrillstanley on Feb 18, 2010 15:01:27 GMT -5
OH NO!!!!!!!
Maria B is going to have Meridith W on in the last hour.... they are going to cripple the banks stocks....keep your ears on
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Post by elle on Feb 18, 2010 15:02:45 GMT -5
OH NO!!!!!!!
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Post by abdogman on Feb 18, 2010 15:03:06 GMT -5
Merrill thx for heads up
Elle Hi you ok?
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Post by elle on Feb 18, 2010 15:05:47 GMT -5
Mmm, honestly, no. At the eye doctor and not good news.
While I dislike swearing, I think I can say this as I mean it in the literal sense. God damn it!
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Post by abdogman on Feb 18, 2010 15:07:06 GMT -5
bad things happening to Good People....i am sorry
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Post by merrillstanley on Feb 18, 2010 15:07:23 GMT -5
elle, so sorry to hear, swear away
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Post by elle on Feb 18, 2010 15:12:23 GMT -5
thanks, guys.
didn't get stopped out of my SRS and SPG coming up on R, but keeping the stop, not going down the SRS dead end road.
Uka, if you're here, DDSS closed their offering
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Post by elle on Feb 18, 2010 15:16:15 GMT -5
SPG po'd at GGP rejection
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Post by maxi on Feb 18, 2010 15:19:26 GMT -5
elle, hope whatever it is is not too bad. let us know okay? I posted a picture but the picture thread is being cleaned or something and now i can't find it.... Okay back to watching for Meridith...
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Post by merrillstanley on Feb 18, 2010 15:34:43 GMT -5
ok glad that is over, MW not sounding toooo compelling in her justifications just know from history that when MB and MW get together, a sell off is forthcoming but still crud vol in banks at this juncture anyway
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Post by merrillstanley on Feb 18, 2010 15:41:21 GMT -5
vol really not there as we close out this day, in spite of pushing thru a couple tech levels
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Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Feb 18, 2010 15:41:29 GMT -5
Holy crap! What'd I miss?
Just had a mtg from 2-3:30pm and come out to this!! Whoa!!
Getting killed on VXX, PCX not so bad.
Stopped out of SPG short, still in my other 1/2 DDR short.
All things considered not too bad...still sucks!!
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Post by abdogman on Feb 18, 2010 15:42:56 GMT -5
mikey i hear you
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Post by elle on Feb 18, 2010 15:44:41 GMT -5
R here for SPG and .50 higher, which one will hold?
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Post by merrillstanley on Feb 18, 2010 15:45:27 GMT -5
Citigroup (C) Mkt On Close Buy Imbalance: Shrs 3163600 Bank Of America (BAC) Mkt On Close Buy Imbalance: Shrs 1702400 Goldman Sachs (GS) Mkt On Close Buy Imbalance: Shrs 87200 JPMorgan Chase (JPM) Mkt On Close Buy Imbalance: Shrs 505200 Morgan Stanley (MS) Mkt On Close Buy Imbalance: Shrs 253700 Wells Fargo (WFC) Mkt On Close Buy Imbalance: Shrs 801100
wow, all across the board....not a lot of liquidity at all in this market place
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Post by ukarlewitz on Feb 18, 2010 15:51:13 GMT -5
Hi Elle, just back in for the close. Drinking and trading, not a good combination apparently. So, DDSS closed right in time for Spy to hit's 50dma. Ah well, it seems to be market beta neutral anyways. Hope your eye gets better, otherwise its a pirate patch for you.
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Post by ukarlewitz on Feb 18, 2010 15:54:25 GMT -5
IT (all 1/3 positions) VXX at 27.81 SDS at 35.20 SRS at 7.51
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