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05-31-2012, 07:21 PM | #947 | |
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05-31-2012, 11:33 PM | #948 | |
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Vanity, what do you think about the market going onto the fifth elliot wave on the daily/weekly chart? We seem to be completing wave four right now and we should be seeing wave five soon. Not my chart but this is what I'm referring to. http://www.cobrasmarketview.com/wp-c...PlanWeekly.png |
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06-01-2012, 12:38 PM | #949 | |
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06-01-2012, 03:18 PM | #951 | |
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Vanity, do you not wanna buy this dip? I sort of do.. |
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06-01-2012, 03:43 PM | #952 | |
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And I'm updating my chart from last week.
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06-01-2012, 07:57 PM | #954 |
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Put up the NYSE chart you're looking at. From what I can see, there is plenty of room to fall before a bottom occurs?
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06-03-2012, 09:10 PM | #955 |
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Dear mother of goodness, I hope everyone followed the last few posts and sold everything long....
Rowr, you didn't buy into the close for Friday, did you? :/
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06-03-2012, 10:13 PM | #957 |
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I'm still a couple k into SPXU @ 50 (well, 10 before the split) and I've been in TVIX since thursday so I'm good right now. I bought LNKD options for their June ER so I might lose a little on that but other than that, I'm not long at all.
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06-04-2012, 01:20 AM | #958 | |
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06-04-2012, 01:13 PM | #959 |
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Glad I was up early when the market was up and was able to sell those calls
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06-04-2012, 04:25 PM | #960 |
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Big intraday reversal, today was supposed to be our firework crash down. It didn't happen. Market participants are now trying to hold this house of cards together with rumors: master plan in Germany, ECB talks on Wed, Bernanke on thurs. today's intraday reversal on the day of a crash tells me we will be seeing one final pump and dump (possibly).
Scenario 1: we rally to 1290-1340 on news, that will ultimately disappoint. This sets us up for an absolutely enormous meltdown (more than scenario 2) so it would be good to buy shorts all the way up to these levels. Scenario 2: this is the resemblance of August 3rd, 2011, where the day looked like a bottom but then was follow by 60 and 80 handles down the following next day. Is would take us to, in his scenario, 1200 before a relief, and then resume the crash (ultimate target 900-1050).
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06-05-2012, 09:50 PM | #961 |
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Hmmm. A strange week so far, we still have room to the upside and I will probably unload my calls tomorrow and play whatever happens next safely. Doesn't Bernanke speak on Thursday?
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06-05-2012, 10:31 PM | #962 |
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I wokeup in a panic to get the hell outta the market today since I never got home on time Friday and oddly enough the last 2 days I've been in the green.
I have a feeling the potential for gains right now is very little where the potential downside potential is a lot higher, maybe the small profits to be made aren't worth the risk of the larger downside. Anybody pulling out tommorow morning or mid day? |
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06-05-2012, 11:36 PM | #963 | |
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06-06-2012, 12:29 AM | #964 | ||
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06-06-2012, 01:27 AM | #965 |
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I bought GOOG June 8 575 calls for $4.52 this morning because it seemed like it was at an intraday bottom. I was wrong and it fell and stayed at around $568 for most of the day. Damn time decay took out around $0.50 per contract by EOD too, the fact that it was stuck in a $1 range for 3 hours didn't help much either. A rally tomorrow should help me rid of them for a profit though.
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06-06-2012, 10:56 AM | #967 | |
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![]() Just picked up some BAC puts what do you guys think?
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06-06-2012, 11:10 AM | #968 |
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sweet getting my ass handed to me again, broke straight through its 200DMA on the hourly chart
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