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Post by Cosmic on Aug 5, 2010 17:57:25 GMT -5
The more I look at the opening, the more they tried to hide the impulse nature of the initial sell. This has me concerned. But it was there. Now whether it was just a Thursday Opex thing before our Friday Opex thing because every day is now an Opex thing, then perhaps so. But I did NOT like it.
Green Arrow continues to confirm blue sequentials. So it's still buy dips.
Saw Fritzy on theYMB said Kass was bearish now. I distinctly remember Timber's posts that Kass has said low is in for the year and he was bullish.
What the heck is going on?
Tomorrow, will they catch the impulse wave down? I don't know if they can. This is the *exact* *same* *crap* that caused the last dropout and a new low for 2010 just a few weeks ago. When no amount of buying can overcome the Will Of The Bots to avoid handing out profit on correctly made decisions.
Bear, and I'm sad to say the only thing holding me even moderately LESS bearish is Green Arrow, and I sure as heck hope GA and I are right, but Doom feels ripe.
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Post by blueskies on Aug 5, 2010 18:03:38 GMT -5
was a baby bear today and am a big blue bear tomorrow....
bonds and stocks have a disconnect, gold pushed up pretty hard, grains are up like crazy across the board (and we all know about russia and wheat). With the narrow range trading the past few days.... we're gonna blow, one way or the other, and i think it's gonna be the "other."
and there's still that gap on the sunday session open....
GL to all blue
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Post by cosmic on Aug 5, 2010 18:15:17 GMT -5
Yep, tons and tons of short puts out there trying to clear for Friday opex with the easy gains (just OTM strikes).
Gonna Jam Those Shares they are, gonna make all those short putters eat 'em and fill 'em.
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Post by exabi on Aug 5, 2010 18:45:02 GMT -5
Bear for tomorrow....concerned about the disconnect between pork bellies and lean hogs, bellies up, pork chops down....J/K.....I don't have a clue.
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Post by cosmic on Aug 5, 2010 18:49:28 GMT -5
I wouldn't be surprised any more, Ex, if we just have Mondays up and then slow fades the rest of the week - forever - until they get rid of these weekly options for most of the majors. Truly ridiculous.
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Post by Dualism on Aug 5, 2010 18:51:06 GMT -5
Yep, tons and tons of short puts out there trying to clear for Friday opex with the easy gains (just OTM strikes). Gonna Jam Those Shares they are, gonna make all those short putters eat 'em and fill 'em. The weeklies are quite interesting. And I think they still have not peaked to their full potential of volume activity with tight spreads. That said, because of rapid time premium decay, those who would short the weeklies, most likely are spreading those positions through 'calendar spreads'. That is a long option of a longer expiration against the short option of the short term weekly. The other participants drawn to the weeklies are the speculators who are poorly funded, looking to score a triple home run or a hat trick, IMO.
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sowolf
Broker/Dealer
Posts: 439
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Post by sowolf on Aug 5, 2010 18:53:30 GMT -5
Headed lower tomorrow... BEAR.
Good luck everyone,
sowolf-
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Post by exabi on Aug 5, 2010 18:57:38 GMT -5
I was watching BAC after your post....looks like 14 is the number for this week, then we'll see either 13 or 15 for next week. My previous post was wrong...will correct ....should have said bellies up, pork (pork-chops down)
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Post by brosin on Aug 5, 2010 18:59:00 GMT -5
Bull
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Post by jack on Aug 5, 2010 19:02:00 GMT -5
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Post by Rich on Aug 5, 2010 19:10:30 GMT -5
This way, friends, through the veranda and up to the loft. I've been working on something very special. I call this one 'Gap and Ho-Hum' Uploaded with ImageShack.usGotta go bear here.
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Post by jack on Aug 5, 2010 19:31:47 GMT -5
I dunno Rich...same exact configuration as the Aug 3rd close today. So I have it on indisputable authority that we gap up tomorrow! lol!!! Cos - hope you noticed I figured out thanks to you, Clint, PH & patrickargo how to post a freestockchart!!! Whahoooooooo - ain't no stopping me now!
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Post by Rich on Aug 5, 2010 19:36:57 GMT -5
Nothing would make me happier, Jack. I'd sell my faz and go long.
Ya know what worries me? Do you remember the charts in December? We'd gap up, flatten out for a couple of days then gap down and flatten out.
It did it like three times.
Rangey yucka.
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Post by jack on Aug 5, 2010 19:42:16 GMT -5
Nothing would make me happier, Jack. I'd sell my faz and go long. Ya know what worries me? Do you remember the charts in December? We'd gap up, flatten out for a couple of days then gap down and flatten out. It did it like three times. Rangey yucka. December?!!! I can't even remember July! Its just lucky I remembered August 3rd! lol!!!
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Post by jack on Aug 5, 2010 19:45:34 GMT -5
Nothing would make me happier, Jack. I'd sell my faz and go long. Ya know what worries me? Do you remember the charts in December? We'd gap up, flatten out for a couple of days then gap down and flatten out. It did it like three times. Rangey yucka. And just whaddaya doing in FAZ? You need to be w/ an acct that has FAS shares to short (if you are so inclined) or you get screwed w/ the decay. Timber uses just2trade but scuttlebutt is that they only accept applications from card-carrying Democrats! lol!!! ;D
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Post by ask2lern on Aug 5, 2010 19:49:52 GMT -5
I am voting BEAR.................but wont be around.........so have a good day and great weekend everyone...............GLTA
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Post by theMIST on Aug 5, 2010 19:52:20 GMT -5
Old fashioned Commod (Lawn mower guy avatar) Bear! Seeing a red candlestick tomorrow that will fill the GAP. Looking to go LONG at end of day. So then
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Post by ask2lern on Aug 5, 2010 19:52:30 GMT -5
Saw Fritzy on theYMB said Kass was bearish now. I distinctly remember Timber's posts that Kass has said low is in for the year and he was bullish. What the heck is going on? Cos, He said he is bearish but that he thinks the lows of the year were the July lows......................FWIW.........................GL
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Post by Clinton SPX on Aug 5, 2010 20:18:25 GMT -5
Super bull
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Post by Rich on Aug 5, 2010 20:20:44 GMT -5
Nothing would make me happier, Jack. I'd sell my faz and go long. Ya know what worries me? Do you remember the charts in December? We'd gap up, flatten out for a couple of days then gap down and flatten out. It did it like three times. Rangey yucka. And just whaddaya doing in FAZ? You need to be w/ an acct that has FAS shares to short (if you are so inclined) or you get screwed w/ the decay. Timber uses just2trade but scuttlebutt is that they only accept applications from card-carrying Democrats! lol!!! ;D Jack, I haven't been able to short fas or faz for a month already. I should call my broker, but I never want to take the time. and...I'm in and out fairly quickly so decay doesn't effect me too much. After almost a year of options, FAZ decay is nothing ;D
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Post by demanuel2001 on Aug 5, 2010 22:43:40 GMT -5
Nothing day today - gotta go double bull or better tomorrow
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Post by blueskies on Aug 5, 2010 23:22:58 GMT -5
rut roh... when there are this many bears (and not baby bears I notice).... it's probably going to be a bullish day...
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Post by jack on Aug 5, 2010 23:29:42 GMT -5
rut roh... when there are this many bears (and not baby bears I notice).... it's probably going to be a bullish day... Yeh - lotta conviction here on both sides (no half measures: I like THAT!) lol!!
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Hawk
Pit Trader
Posts: 52
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Post by Hawk on Aug 5, 2010 23:29:44 GMT -5
If it gaps up on Goods jobs report, then it will sell the news If it gaps down on bad report, then it will reverse and buy the news.... So I think its baby to an all out bull
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Hawk
Pit Trader
Posts: 52
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Post by Hawk on Aug 5, 2010 23:30:41 GMT -5
wha t r u thinkin Jack?
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Post by jack on Aug 5, 2010 23:31:23 GMT -5
If it gaps up on Goods jobs report, then it will sell the news If it gaps down on bad report, then it will reverse and buy the news.... So I think its baby to an all out bull Hawk - what's your track record on doing that w/ gaps?
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Post by jack on Aug 5, 2010 23:35:11 GMT -5
I referred Rich to the same closing action today as Aug 3rd. My guess is we gap up - after that its a toss up but I wnt on record w/ a bear call. ...but I dunno shit so don't go by me Hawk. Turnin' in - nite kids
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Post by puurfectten on Aug 5, 2010 23:52:49 GMT -5
bear..
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Post by torrentio1 on Aug 6, 2010 0:04:36 GMT -5
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Post by benvestor on Aug 6, 2010 0:41:46 GMT -5
Big Bull, Gaps and Unemployment be damned lol.. yes going for 4 wrong in a row
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