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06-06-2012, 02:23 PM | #970 |
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yup i ended up buying more puts up top and now in the green
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06-06-2012, 02:24 PM | #971 | |
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06-06-2012, 03:41 PM | #972 |
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Intraday reversal and US treasury moves this week are confirming a possible ST bottom. The rebound has ran into 1310 downtrend resistance and we will need to hope for a good, and I mean GOOD, meeting with Bernanke tomorrow. Today's trading Volume is on thin ice, less than what we were seeing last Friday in the sell off. Either dead cat bounce or a ST rally that does (it's possible) have the potential to make a new high before a crash.
I added some more small positions back into shorts. Will be watching tomorrow for clues as to whether a long should be initiated.
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06-06-2012, 10:59 PM | #973 |
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I'll be staying on the sidelines until, we see a bit more of a correction. When SP500 dips down to 1150-1200, I'll consider going long.
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SOLD......E90 SG, ColdWeather Pckg, Sport Pckg, Logic7,H R Sports, Rogue Ikon, M sport shift knob/boot
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06-07-2012, 04:09 AM | #974 | |
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06-07-2012, 03:50 PM | #975 |
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those puts made me a pretty penny
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06-07-2012, 05:07 PM | #978 | |
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06-07-2012, 07:23 PM | #979 | |
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And good job to everyone day trading this week. Good strategy ![]() What are your thoughts of the first leg having ended, or near ended, and the markets making another large leg down before a large counter-rally follows suit (2nd leg up), then the big fireworks? The reset this week and prop-up has delayed the crash imo.
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06-07-2012, 08:37 PM | #980 |
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Just to give you guys an idea of what the global technical picture looks like since the respective 2012 tops for each of the following markets:
China -20% Japan -15% Germany -22% France -21% UK -14% Brazil -28% Italy -29% Canada -15% India -24% Russia -31% Spain -37% Only Japan, UK, Canada, and the American markets have not been dragged into a bear-market yet. However, the rest of the world has already begun a global bear-market, as highlighted by the red and with losses crossing -20%. This signals further losses to come.
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06-07-2012, 11:09 PM | #981 |
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I definitely think we are headed lower from here, all technical signs indicate a reversal from these few days of re-consolidation. Parabolic SAR (indicated trend reversal), Stochastic and MACD are all pointing down on the hourly chart. Everyone did not get what they wanted to here today from helicopter benny
![]() ![]() ![]() happy trading ![]()
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06-07-2012, 11:26 PM | #982 | |
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![]() Glad I went full short again, Japan's index is down -2% and Aus is down -1% too. After a powerful 60 handle rally on the SPX, everything is reset for another leg down. I'm thinking in the vicinity of a 50-100 sell off on the SPX. ST target anywhere from 1215-1265 from our current 1315. Like I said before, if crash doesn't happen then we are going to rally up, and that's going to cause a much larger crash. The main body isn't even here yet because of this prop-up this week. But you can't hold back a Mama Bear. ![]()
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06-07-2012, 11:37 PM | #983 |
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The pull back today confirmed my 2 leg theory and I believe that the first up leg is now over. we may see further pull backs tomorrow but I personally believe there will be another leg up. Realize that I personally think there will be two legs up but there is definitely a possibility of a third leg up just as well. I just think that it's going to be a short term rebound and eventually we will continue back downwards. In terms of the bigger picture, I still think we will break the 06/04 lows, which in my book implies that the intermediate-term is still short.
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06-08-2012, 12:07 AM | #984 | ||
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![]() She will get here eventually ![]() Quote:
![]() PS: sorry for the shitty quality of the charts at my gfs house using her computer and it sucks -_-
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06-08-2012, 12:17 AM | #985 |
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There is clearly a reversal bar today formed on the SPY daily chart just as well. I still think there's another leg up though. We've had 5 straight red Fridays just as well.
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06-08-2012, 12:26 AM | #986 | |
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My boys, HiSam and Rowr, what are your thoughts ![]()
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06-08-2012, 08:58 PM | #987 |
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What are your ideas on the data coming out of china tomorrow and the Spain talks that are occurring
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06-09-2012, 05:05 PM | #988 |
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Looks like Spain got approved for up to 125 billion
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06-09-2012, 11:19 PM | #990 |
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No need for the kind words. That $100B Euros is going be pulled straight out again from the bank runs happening in Spain. They've already taken out $97B Euros this year, now they're asking Germany for the bailout to cover that. Just watch for Greek Elections. If Syriza wins, the bank "jogs" currently happening around Europe are going to turn into full on Bank Sprints. A lot more money is needed.
Charts do look like they have an upside of about +25 on SPX, +250-300 on DOW, or about ~1.8%. Still full short. ![]()
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