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Post by Cosmic on Jul 13, 2010 18:20:20 GMT -5
Very interesting point here. How real is this move, and how much of it is opex? I think the majority is opex, but the rest is real based on lowered expectations.
Snap asked about a retest of 1042. I don't think that happens during this opex, would be too easy to let bears off the hook who were shorting for 980 or lower. I don't think we slice through 1150, would be too easy and let bulls off the hook who were flooring it buying at 1200.
If this is the broadening wedge, then we may top higher than 1125 - I joked to T4d probably around 1130's-1140's, higher than the last post-opex move, but lower than the threshold that big shorts would need cover. And ultimately 1004 would fall as the wedge broadens.
I just can't tell. But you CAN see how clearly the technical marks are, and that *for now* they are honoring supports and resistances. That makes me the most suspect of all.
Keep your eye on your favorite junk stock (or the one you're still stuck in, and yes, I had one up until a little over a week ago that I finally dumped.) It's not moving up is it? Well, there's NO SPECULATIVE CASH in this market, and that's a danger sign. You need to consider that all the moves are in index stocks (for the most part). IMGG, for example, broke a critical support level today, and YOU SHOULD NOTICE.
Baby Bull for now.
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Post by timber on Jul 13, 2010 18:36:17 GMT -5
sorry cos but some of the junk stocks have moved up huge
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Post by birthmark on Jul 13, 2010 18:37:20 GMT -5
Good points all COS (and yes I'm stuck in a few "specs" shall we say).
That's why I'm going Baby Winnie-the-Pooh.
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Post by givememilion on Jul 13, 2010 18:38:25 GMT -5
Retails sales disappointing.. will be bear for a short run .. eod I will cover all my shorts.
.... Loaded with DRV bought at 32.05 (500 stocks)
.... IYR 51 strike price options bought at 1.16.
.... INTC put options just 3..
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Post by jack on Jul 13, 2010 18:40:33 GMT -5
Raging Jake LaMatta Bull with cohones that'd make a grizzely blush in jealous awe!
(I thought that was somewhat poetic really).
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Post by cosmic on Jul 13, 2010 18:50:53 GMT -5
sorry cos but some of the junk stocks have moved up huge I can give you 10 examples where compared to May levels, you are still down 90%. And I can do it fast. I have a watchlist full of 'em. |
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Post by demanuel2001 on Jul 13, 2010 18:56:12 GMT -5
I know I'm a permabull but lately I've been predicting double bull and quad bull moves and have largely been correct. European credit worries were ignored today and this just means that we have another gap opening and a bigger bull tomorrow - I'm thinking 200 points but at least 100. Little drivers like INTC don't hurt either.
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Post by jack on Jul 13, 2010 18:58:03 GMT -5
I know I'm a permabull but lately I've been predicting double bull and quad bull moves and have largely been correct. European credit worries were ignored today and this just means that we have another gap opening and a bigger bull tomorrow - I'm thinking 200 points but at least 100. Little drivers like INTC don't hurt either. Agree |
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Post by trading4dough on Jul 13, 2010 18:59:55 GMT -5
Are we not right at the top of the SPX Wedge right here Cos?
If so we would see a big gap n crap reversal or bust thru and really move
xlf bust thru
rut just thru
tran and iyr still a ways to go
I dont know
maybe when tran qqqq and iyr hit the top deceleration line we roll over
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Post by jack on Jul 13, 2010 19:06:01 GMT -5
Are we not right at the top of the SPX Wedge right here Cos? If so we would see a big gap n crap reversal or bust thru and really move xlf bust thru rut just thru tran and iyr still a ways to go I dont know maybe when tran qqqq and iyr hit the top deceleration line we roll over Yeh man: "Bust thru & really move!"How 'bout calling out the waves tomorrow Dough? |
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Post by givememilion on Jul 13, 2010 19:10:43 GMT -5
Look at the VXX options someone bought for July. Just 2 days before expiry. I see some cold current is flowing thru however, I see only one catalyst thats the retail numbers.. what the guys feel we open down in the morning and sell-off all the way till we hear from fed at 11?
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Post by brosin on Jul 13, 2010 19:14:34 GMT -5
No "Timber bear" for me tonight (it's on fire! lol), I'll be a true baby bear for tomorrow.
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Ras
Commodities Trader
Posts: 239
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Post by Ras on Jul 13, 2010 19:46:09 GMT -5
Baby Bear
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Post by Rich on Jul 13, 2010 19:52:43 GMT -5
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Post by deadmoney95 on Jul 13, 2010 20:39:18 GMT -5
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Post by maxi on Jul 13, 2010 20:45:03 GMT -5
Baby Bull
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Post by Clinton SPX on Jul 13, 2010 20:46:34 GMT -5
Bull, but the end is near
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Post by cosmic on Jul 13, 2010 20:58:25 GMT -5
nigh, clinton, nigh
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Post by timber on Jul 13, 2010 21:14:40 GMT -5
the bear to end all bears
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Post by clemsontygr on Jul 13, 2010 21:15:20 GMT -5
Are we not right at the top of the SPX Wedge right here Cos? If so we would see a big gap n crap reversal or bust thru and really move xlf bust thru rut just thru tran and iyr still a ways to go I dont know maybe when tran qqqq and iyr hit the top deceleration line we roll over IMO: QQQ will come up "just short " of the marks.... Baby Bull till it closes red ;-) Then WATCH out BELOW !!! LOL I'm gonna keep preachin till you perma BULLS start listening !!! |
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Post by torrentio1 on Jul 13, 2010 21:23:30 GMT -5
Grey Poupon BULLBut of course... 
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Post by snapplemoney on Jul 13, 2010 21:56:26 GMT -5
1042 is definatly out the window for now. however todays move will be filled one time or the other. i dont see this move higher breaking down any time soon i agree with the move to 1130 i got 1133 or 1143 cant decipher.
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Post by alphacpa on Jul 13, 2010 22:08:13 GMT -5
Big bull Wednesday. Market will move up through summer with some minor down days along the way. Earnings very good compared to expectations.
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Post by puurfectten on Jul 13, 2010 22:23:12 GMT -5
grizzly bear...might be final boarding call for express elevator...could throw us a couple of doji's or hammers..or maybe a shovel..end result is the same....or..a bear swallow up the bull engulfing somethin or other..  ..good luck guys.. |
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Post by Clinton SPX on Jul 14, 2010 0:10:20 GMT -5
Lets get this over with, lets gap this sucka so high everyone and their mother takes profits.
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grant
Commodities Trader
dont forget to live your own life
Posts: 169
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Post by grant on Jul 14, 2010 4:34:29 GMT -5
go baby
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Post by ask2lern on Jul 14, 2010 7:02:54 GMT -5
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Post by jack on Jul 14, 2010 8:14:22 GMT -5
FINAL RESULTS:
Bull - 11
Bear - 8
...should be interesting if nuthin' else...
GL & GM Gang
; )
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..good luck guys..
