Monday, October 12, 2009
October 12th, 2009
The market will probably gap up this morning. If it does, the market has a gap today and two gaps from last week. Today action will probably retest the 52 week high. Watch SPY at 108.06. If SPY closes above 108 with strong white bar, it is time to go long. Same with QQQQ at 43.17. I am expecting some kind of resistance at these levels.
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I bought a small amount of SPXU here. Maybe the light volume will work to my advantage today vs. last Friday. Just a crap shoot this morning until we get a more definitive move higher.
ReplyDeleteIf my SPXU trade goes green this morning, I will double the size of my position (but it is still pretty small)
ReplyDeletei see X is weak so far today. I shorted a bit of CLF for fun, with tight stop at new highs. gcl, when is this bad boy gonna pay off??:)
ReplyDeleteOk, looks like i am talking to myself today:) I just went positive on my SPXU position and am adding here.
ReplyDeletepile on
ReplyDeleteI have been busy since the meeting last Friday.
ReplyDeleteX is breaking down. Now I am in the positive for X. My CLF will crawl back down soon.
There are lots of stocks didn't participate with the rally today.
We need spot gold stop going up. If spot gold stop going up and go back down to 1000/oz, then you will see the market will reverse back down.
ReplyDeleteIt may be a bit early to pile on. Mr. Market needs to hit new lows today. May not happen.
ReplyDeleteI tried to go long UPRO when SPY was 107.85 on the pullback to resistance 2 (107.86). Would have been looking to get out above 108.09 spy.
ReplyDeleteGetting used to my new phone/trading software, so was having some difficulties and didn't take it as the market had already moved.
Using iStockManager on my new HTC Hero/Android phone on Sprint with TD Ameritrade.
I like the phone so far. A little different than IPOD Touch 2.0.. but very similar.
the SnP hourly is still below the seven day uptrend line, but is bumping up against it for last two days (including today)
ReplyDeletedamn, they just knocked the snot out of gold miners. gcl, maybe they will take gld down a bit. I am long DTO, short oil (very small position)
ReplyDeletewow, I missed a good one in ENER today. gcl, what's up with ENER?
ReplyDeleteI don't know what happened to ENER. Maybe it is technical bounce.
ReplyDeleteAre you guys working today or trading at home?
ReplyDeleteWorking :/
ReplyDeletehome
ReplyDeleteNot much volume today. Maybe investors are taking one last time on vacation before the winter comes around. It will be funny that if they come back tomorrow and found out that the market could dropped 200 points today.
ReplyDeletework from home.....lol
ReplyDeleteOh, yes, gcl. that would be oh so nice. maybe this afternoon, but it sure looks stuck in a range so far. You would almost think "they" would try to take them down on low volume so they'd get a better entry after holiday
ReplyDeletethe way I see it, they have been squeezing may ass for the past three trading sessions, what's another day of the same? won't surprise me a bit:)
ReplyDeletejust remember, light volume day....no sellers.
ReplyDeleteThe light volume could mean no buyers and sellers.
ReplyDeleteToday action is very tough to trade as daytraders.
ReplyDeleteWho will win the World Series this year?
Phillies, Rockies, Dodgers, Yankees or Angels
dunno, but the twins got totally screwed on that foul ball call a few games back.
ReplyDeletewould'nt it be nice to see a low volume panic sell-off for a change? these guys on CNBC make me sick, one after another talking up the market. truly criminal in my book. long SPXU, DTO, short CLF
ReplyDeleteI am looking for 200 point loss day.
ReplyDeleteI booked half of profits, just in case it is more of the same bs end of day rally stuff. 200 pts. would be sweeet.
ReplyDeletegcl when do you expect this 200 point loss?
ReplyDeleteam staggered by the lack of volume and selling.
earning this wk could be strong, don't think much will be from top end revenue but...
this mrkt is AMAZING!!!!
that could be it for todays sell off. I booked a bit more profit. Low volume, take your money and run (at least some of it).
ReplyDelete200 point loss is a wishful thinking.
ReplyDeleteIf it closes right now, today action favors the bear.
In short term, SPY and QQQQ need to close below where its opened today in order for down turn.
X and CLF are going the opposite direction to each other. Hmmm. X is struggling with the market while CLF is hanging tough.
ReplyDeletethnx to that quick sell-off, I was able to get back my losses from Friday's move against me. On a pathetic, low trading volume day like today...I will take that happily. let's see how they closem
ReplyDeletepile on
ReplyDeleteI could see SnP trading down to 104 or so before they take'em higher to 110 or so. just thinking out loud here, but that's what I am seeing.
ReplyDeleteoops. i meant SPY, not SnP. Looks like their gonna try to rally them. wow, what a surprise. so predictable.
ReplyDeleteBoth SPY and QQQQ closed just a tad below or close to where its opened. I believe this Thursday, Friday and next Monday are the days of changing the market to continue going up or breaking down in the market.
ReplyDeletegeeeeezus gcl - i never went to college and i can make calls like that. what happen to your education? not trying to piss you off, but...
ReplyDeletethat's your call?
just pile on
ReplyDeleteMy Dream Series is Dodgers vs. Angels. I lived in SoCAL for 20 years.
ReplyDeleteBrea, why are you so focus on my education with the stock market?
ReplyDeleteI am doing this as part time.
My education got me where I am today. I wrote software for the government project to hunt and track down terrorists. The software that I wrote was able to capture the Saddam Hussein associates.
I got paid well for it. Mucho dineros.
Brea, this Thursday there will be a lots of big name companies giving out earnings. Friday is the option expiration day. Next Monday is October 19th.
ReplyDeletebrea, gcl stating the obvious again....LOL....
ReplyDeletegcl, i think he's expecting u2b a fortune teller.