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Post by elle on Feb 18, 2010 15:57:12 GMT -5
UKA! No, you didn't take them up on SRS trade, did you?
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Post by elle on Feb 18, 2010 15:58:17 GMT -5
really nice topping tail SPG 60, 30, 10
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Post by abdogman on Feb 18, 2010 16:02:06 GMT -5
take care guys see ya tomorrow
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Post by elle on Feb 18, 2010 16:05:14 GMT -5
Bye, dog, have a good evening
SPG ask still dropping, that almost gravestone on the hourly probably not encouraging. Also 5 up days in a row to strut for GGP.
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Post by ukarlewitz on Feb 18, 2010 16:08:37 GMT -5
I've exalted you and your eye, Elle. This thread deserves good karma.
I added to SDS at the close. It's in a minefield of R and that descending 50dma. If nothing else, we should have a slight pull back tomorrow am off of that plus the final red candle. Vix is now in the sell zone, near 20.
I must be seeing things because DDSS is actually closing green. I need to go the eye doctor or buy better rum.
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Post by ukarlewitz on Feb 18, 2010 16:14:47 GMT -5
No way do I touch SRS. I'm already in voodoo land down here. I think Spy is a good short; xlf, less so. Short EEM (EDZ) is my next choice. IYR zipped through that 50dma a bit too easily. But my objection to SRS is more philosophical than technical.
Let Opex madness begin.
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Post by elle on Feb 18, 2010 16:19:54 GMT -5
DDSS - was worried people would let their shares go today, just as it was hitting really fine support. Doesn't mean it will "fly", but a nice hammer, dragonfly, closed above hourly 20. Lots of levels to fight through, but there should be shorts covering.
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Post by worldclass422 on Feb 18, 2010 16:22:23 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 Hi Merrill, I was also concerned about Meridith W. being on CNBC. She usually sinks the bank stocks big time! I was surprised that she gave a backhanded recommendation to Bank of America. Twice she referred to BAC as "less bad" than the rest of the bank stocks. Not much of a recommendation but not quite as bad as usuall, I guess.
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Post by ukarlewitz on Feb 18, 2010 16:35:54 GMT -5
IT adding these shorts: HD at 30.28 FSLR at 126.65
Interestingly, they closed their X short already.
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Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Feb 18, 2010 16:38:16 GMT -5
Funny...I shorted me s'more SPG (don't learn), avg'd down on VXX after hours (got some at $27.62), and shorted X at $51.00
Just went to the crapper, came back, refreshed my "order status" screen, and saw drastically changed bid/asks on all my transactions - I'm actually up 2% on that VXX buy already, for example.
WTF happened? The Euro is tanking - just hit its lowest level since May '09.
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Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Feb 18, 2010 16:39:39 GMT -5
OHHHHH just got an e-mail w/breaking news
Federal Reserve raises symbolic discount rate from 0.5% to 0.75%. Fed cites 'continued improvement in financial market conditions.'
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Post by elle on Feb 18, 2010 16:40:17 GMT -5
I'm off for awhile now, too. We stopped at SPY 50 110.99, so maybe R for now. If not next level I have is 112.63 Uka DDSS - don't want any DD to interfere with your rum R1 2.18, R2 2.33, R1 2.18 S2 was 1.90, 200 1.83, S1 1.54, S3 1.46
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Post by elle on Feb 18, 2010 16:44:55 GMT -5
holy discount rate, I can't leave now - just went green on my SRS!
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Mikey
Broker/Dealer
Posts: 581
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Post by Mikey on Feb 18, 2010 16:48:37 GMT -5
Yeah Elle I was just licking my wounds and seeing how much I lost today then BAM, everything reversed. I'm green on all of my short ETF's in my IRA except for DRV which took an ass-kicking today. Up from it's $12.5 low to $12.9 in extra hours though, so I can't complain.
Good thing my sixth sense saw this coming LOL
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Post by abdogman on Feb 18, 2010 16:57:18 GMT -5
holy smoke .......i leave to run an errand and the fed raises the rate ....those sneaky ______rs .....But wait i am short (so to speak) gotta go look at FAZ and ...i'm better off that at the close for sure.....
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Post by elle on Feb 18, 2010 17:01:42 GMT -5
Yeah Elle I was just licking my wounds and seeing how much I lost today then BAM, everything reversed. I'm green on all of my short ETF's in my IRA except for DRV which took an ass-kicking today. Up from it's $12.5 low to $12.9 in extra hours though, so I can't complain. Good thing my sixth sense saw this coming LOL You still got IT, Mikey
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Post by maxi on Feb 18, 2010 17:03:12 GMT -5
DL is gonna be thrilled over her FAZ lol
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Post by elle on Feb 18, 2010 17:04:07 GMT -5
Not getting too excited, PPT prepared for this I'm sure.
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Post by maxi on Feb 18, 2010 17:07:48 GMT -5
I think u are right Elle. This is an initial over reaction. I think I will e mail DL tho and tell her to check in case she wants out of the FAZ trade.
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Post by ukarlewitz on Feb 18, 2010 17:20:34 GMT -5
850 plus views today. Good job traders!
I'm glad I bought the close. I need to stay on vacation! More rum all around!
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Post by elle on Feb 18, 2010 17:55:48 GMT -5
Maxi, still more drop tomorrow probable, just not sure if it will be a blood bath. Should have pullback regardless, don't you think? Getting way overbought.
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Post by maxi on Feb 18, 2010 18:23:41 GMT -5
Since I am in cash the lower this falls the better for me. I hate buying during the dull times. You know when everything is just sorta moving up or inching down.
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Post by elle on Feb 18, 2010 21:06:05 GMT -5
Since I am in cash the lower this falls the better for me. I hate buying during the dull times. You know when everything is just sorta moving up or inching down. You are SO smart. If we were all that disciplined, we would not lose at this game.
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lookingherethere
Broker/Dealer
"I am in me.." <In response to the possessed rumors>
Posts: 533
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Post by lookingherethere on Feb 19, 2010 1:03:01 GMT -5
I traded my desk for this cool ink pen today. I used it to write a note to my self to buy more faz in the morning...
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Post by rocknroll on Feb 19, 2010 1:38:37 GMT -5
FAS PP=70.63 R1=71.62 R2=72.56 R3=74.49 S1=69.69 S2=68.70 S3=66.77 O=71.3 H=71.58 L=69.65 C=70.67
I'm just now learning about pivot points. So this one was saying that FAS would have a high of $74.49 and a low of $66.77?
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Post by brosin on Feb 19, 2010 1:41:49 GMT -5
Nah - those are just Resistance and Support levels. Basically they are spots where there will be technical selling pressure (resistance) or buying pressure (support). They are just good areas to watch if you're looking for an entry (if it bounces off one of those spots, for example) or if you're looking to maybe try a quick trade
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Post by rocknroll on Feb 19, 2010 1:48:28 GMT -5
Okay, I'm getting there. So they predict the resistance and support levels based on the HLC, right?
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Post by brosin on Feb 19, 2010 1:52:28 GMT -5
Okay, I'm getting there. So they predict the resistance and support levels based on the HLC, right? * *If I knew what HLC meant
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Post by rocknroll on Feb 19, 2010 1:53:51 GMT -5
H = Previous Day's High
L = Previous Day's Low
C = Previous Day's Close
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Post by rocknroll on Feb 19, 2010 1:55:54 GMT -5
Pivot Point PP = (H + L + C)/3
First Area of Resistance = R1 = 2PP - L
First Area of Support = S1 = 2PP - H
Second Area of Resistance = R2 = PP + H - L
Second Area of Support = S2 = PP - H + L
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