GS and C had good earning reports this morning, but their stock prices are down in the premarket.
Also the spot gold is down. I believe that it is just a technical move. GOOG will be report its earning after the market close.
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I just went long CLF at 38.35. gonna give it try.
ReplyDeleteI sold CLF at 38.75. just cant stomach going long. gonna buy a bit of SPXU
ReplyDeleteYesterday the gold stocks didn't participate with the rally. It was almost unchanged. It was a clue from it that the spot gold will drop today. So it means that the general market will follow spot golds behavior.
ReplyDeleteWatch how SPY retest 108.50 area first.
ReplyDeletegcl, that's what I am thinking (re: gold) i am short a bit of oil via DTO here, but inventory number in 20 minutes may mess it up. added to my SPXU
ReplyDeleteouch, that oil spike was painful. did not help the SPXU either. gonna see if oil can close lower than current price. if, so, that was capitulation for today at least.
ReplyDeleteYeah, oil is either a breakout move or climax on top to squeeze the shorts out. It is all depends how it closes.
ReplyDeleteI need XOM and CVX to roll for my SPXU to work
ReplyDeletegcl, we think alot alike. how long you been trading? I've been doing this chit too long and kinda getting burnt out.
ReplyDeleteI have been trading since I got my first job after college. What about you?
ReplyDeleteWhat do you mean by burnt out? Not exciting enough or do you have to stare the screen from 9:30 AM to 4:00 PM during weekday?
ReplyDeleteSince 1998, but followed markets and dabbled since 1992
ReplyDeleteWow, that was the year that I started too. We went through alot from internet boom to bust in the 90s, financial crisis, housing boom and bust, frauds and scams, 9/11, auto industry bust and many more.
ReplyDeleteI will tell you this right now. You can expect internet will change in the 2017 to 2020. Another great technologies will evolve.
ReplyDeleteThe government is funding the project to 3 Ivy schoos, Harvard, Yale and Prinecton to reinvent the internet architecture. Today internet architecture contains to many holes, bugs, hacks and many more. The government wants the internet to be the safest security of it all.
No more hackers to steal you identity or credit card numbers, worms, bugs, viruses, cookies, etc.
In the old days back in the 1960s and 1970s, the government, universities were the first one to use the internet. It was private at first. Somehow it got leaked out to the public. The internet boomed in the mid 1990s.
well, i am out of my oil trade. oil imports down 600,000 bbl, so they can manipulate the oil build number. also, refinery utilization way down, so gasoline gets a draw down. too damn funny. demand is also way down, but who the hell cares. oil is being stockpiled on ships off-shore. GS wants 85 oil and looks like they will get it
ReplyDeletewell, i am gonna take one more stab at oil here. wishful thinking, but what the hell
ReplyDeleteAre you trading USO?
ReplyDeletehmm?? I am seeing a double bottom on DTO. its a long shot, but gonna give it a go
ReplyDeleteno, DTO
ReplyDeleteDTO is extremely volatile and has a huge beta, so not for the faint of heart. it can move 8-10 points in a day
ReplyDeleteI think DTO ready for turn around.
ReplyDeleteS. Mantra, what are you basing that on? I am long right in here but not too confident. Probably get blown out any minute.
ReplyDeletejust charts. I compare MFI and RSI. If money flow index is way below relative strngth, there should be a bounce coming. This is one of the things I use in charts, instead of just overbought and oversold.
ReplyDeleteSometimes the specialists bring it down below the support level to scare the longs, stop limit loss, and then bring it back up. I saw this many times.
ReplyDeleteWatch how gold stocks performed. You can expect the general market will follow.
ReplyDeleteFor DTO, smaller the time frame worst it is looking. But I see a better picture on daily and weekly picture. Please do your DD. So I will hold overnite and see.
ReplyDeletethanks S. Manta. gcl, yep, gld rolling over and so are gold stocks and they have been the leader into this recent rally.
ReplyDeletealso, keep an eye on the dollar
ReplyDeleteAnyone follow baseball during the playoffs?
ReplyDeleteGLD is probably drop down to 100 mark.
ReplyDeletegcl, I have not been watching baseball playoffs. i will be a buyer of gold mining stocks when/if GLD fills the gap.
ReplyDeleteGOOG closed gap from Tuesday
ReplyDeletethis market get crazier every day. GLD cratering, USO flying. lots of cross currents.
ReplyDeleteAfter GOOG earning, where will its stock open at tomorrow? Any guesses?
ReplyDeleteS. Mantra, r you gonna buy GOOG here. I jsut did
ReplyDeletegcl, my guess it GOOG opens higher on earnings, but no way in hell will i hold overnite or into earnings
ReplyDeleteRight now, most stocks that had reported earning, they either opened higher and closed back down the next day or gap down next morning.
ReplyDeleteexpecting short covering into close for GOOG
ReplyDeleteNothing like doing it at the last minute.
ReplyDeletedepsai
No
ReplyDeletegcl: you still hanging on to the CLF? I know it's going to pull back, but ti's ugly as hell right now.
ReplyDeleteChad, yes, I hope you are not playing with margin.
ReplyDeleteIf you don't, you won't get a margin call. I know that trade go against us. I don't want to cover because we are at the resistance level and most of the stocks are overbought. CLF will retrace back down. If we covered at the higher price, it will go even higher. I don't buy this rally at all. This is all a setup.
The commodity stocks such as X and CLF went up because of oil.
ReplyDeletelong 300 GOOG at 128.5 with stop at 128. will sell at close if not stopped out. this is just for fun.
ReplyDeleteDo you know why this rally is so different from previous rallies?
ReplyDelete1. Not all stocks go up with the market. Check defense stocks, solar stocks.
2. Low volume.
3. Shorts are covering. Lots of analysts upgrade.
4. 10,000 mark. If you look at the history of market, it usually pull back from a magic number. Opposite example, when S&P 500 at 666 in March.
damn, i am out of my spxu on that little spike. that one hurt
ReplyDeleteguys, you have to check this out.....
ReplyDeletehttp://www.tmz.com/2009/10/15/six-year-old-boy-trapped-in-weather-balloon/
Watch for GOOG, IBM, AMD earnings after the market closed.
ReplyDeleteI will check it at home. My company won't allow any video to watch at work.
ReplyDeletegcl: where are you located out of curiousity?
ReplyDeleteGold stocks are continuing to fall.
ReplyDeleteChad, I am in New Jersey.
too bad i'm not a gambling man. 10 points would have been nice in GOOG.
ReplyDeleteshorted at 540. This is new trend I believe. It will go down from here.
ReplyDeleteAMD down a little, IBM down alots, GOOG up a lots as right now. QQQQ unchanged and SPY down .30.
ReplyDeleteI'm calling a top on IBM. not sure how it will trade at open tomorrow, but it is reversing right off of the three yr. trend line that was broken in 2008. very good chance you can stick a fork in that bloated dog
ReplyDeleteAre you saying that IBM will be having a false breakout this week? "Buy on the rumor, sell on the news".
ReplyDeleteyes, on the weekly candlestick it will probably have an inverted candlstick, so it never broke out if it closes below 126ish tomorrow.
ReplyDelete