Today is my birthday.
Ok. The premarket action is pointing up. Yesterday SPY had hit the low 104. There will be a gap up this morning. Is the SPY bouncing off from 104 and heading back up to 108 or will it close the morning gap.
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Happy B-day, mine was Oct. 23rd. I am looking for gap to fill, but who the hell knows. AEM missed their numbers, but future looks bright. I will see how it trades today and may buy in.
ReplyDeleteHAPPY BIRTHDAY GCL!!
ReplyDeleteand Happy Belated JDT!
Happy Birthday, JDT.
ReplyDeleteThanks, Matt.
It seems like it is trying to close the morning gap. If it does, it will strengthen the downtrend.
I am buying AEM. it is the fastest growing, most loved gold miner. looking for it to fill some of gap today or get back to open price
ReplyDeletesold 1/3 of my AEM, and buying a bit of SPXU as a hedge
ReplyDeletewith gold over 1000, AEM is a steal in mid fifties. of course, gold could go lower, but I am gonna call a bottom on AEM. I have been waiting a long time to get this buying op.
ReplyDeleteadding to my SPXU
ReplyDeletegood chance dollar will bounce off of 20 dma here.
ReplyDeleteSPY having trouble with 105.75. that is resistance from last three day sell off (including today)
ReplyDeleteYes, in the high 105 is the resistance level for SPY. I believe we had seen the top for today already.
ReplyDeleteI hope you are correct, gcl. I always like to hear your "technical" opinions. I am long SPXU and SRS and a bit of AEM
ReplyDeleteMy technical opinions are good to an extent. Like I said before, I don't like outliers data, earnings, news or events. I know these data are part of the trading game. After this week, about 75% are already reported earning.
ReplyDeletestill trying to hold at this price, what is next level if we break above 105.75ish? I am afraid I know the answer
ReplyDeletelooks like we are just retracing the yesterday's breakdown from the long term trend line in SnP.
ReplyDeleteman, i am gonna try to stay short. it just cannot be that easy...buy the dip and make money. that may be all she's got in this dead cat bounce.
ReplyDeleteI'm taking off a few days.
ReplyDeleteMeeting later today (and kind of a hangover from last night), and starting a weekend brake project on my car tomorrow.
But definitely looking for the right shoulder to set up on S&P..
hiffi
Go Phillies. Phillies will win the World Series this year for repeat.
ReplyDeleteStatistically, in baseball playoffs, the team won the first game of any series, will win the series 75% to 80% of the time. You can check all the playoff series this year and it proved that stats.
If you want to make bet who will win the World Series, go with the Phillies.
Right now volume is running 20% below normal for SPY. Which means positive for the market, may bounce even more at the end of day, as shorts cover. Just be careful if you are a bear here.
ReplyDeleteRemember this, there are lots of sites mentioned about head and shoulder patterns here and there since March. Since the low in March there was never one single head and should pattern formed.
ReplyDeleteSo if investors are talking about the right shoulder to form in the next couple days or weeks, it could never happen. The specialists are trying to get most investors to lose money.
I think the dollar has bottomed for today. this will be what moves the market today (especially if it can rally a bit from here)
ReplyDeleteS. Mantra, i sure hope you are wrong about a rally. your volume indicator has been spot on in the past. I will say this, if this thing rolls over from here, it will get ugly fast, b/c all the "buy the dip" players will run for cover.
ReplyDeleteok guys, I think this rips, I track the Q's....
ReplyDeletebut be prepared to short it around 42.70.
Volume is slowly picking up. An hour ago 20% below normal, now it is 10% below normal. I see some down spikes to 106.25 yesterday.That could be resistance. If this volume goes up 20% above normal then it is definitely time to sell.
ReplyDeleteIf the market closes where it is now, you could see very similar pattern like GS from October 21 and October 22. You will know what will happen next.
ReplyDeleteNow I looked back what started this market rally from March low. It was Citigroup news about the guidance. I guess it was Meredith Whitney who downgraded GS.
we just hit the 20 dma on SPY hourly. it may be tough to go higher from here. the moves in this market are amazing. you would have thought that yesterday never happened. how bout oil shooting to the moon again, wtf?
ReplyDeleteJDT, don't know if you saw this news, but it's BIG.....
ReplyDeletehttp://www.ft.com/cms/s/0/8cda145a-c3fe-11de-8de6-00144feab49a.html?nclick_check=1
The SPY is back up to the old resistance level at 106.50 couple weeks ago.
ReplyDeleteLook for stocks that didn't participate with today rally. It means there is distribution on these stocks.
For example, AMZN and V.
matt, could not get link to work
ReplyDeletetry this....
ReplyDeletehttp://online.wsj.com/article/BT-CO-20091028-714118.html
S. Mantra, how's that volume tracking?
ReplyDeleteIt came close to normal levels, but backing off to -8% now. At this rate SPY is shooting for 176 millions. Any pull back in below normal volume I consider as buy.
ReplyDeleteUUP sitting at 22.53 very critical level if you look at last 15 days chart.
ReplyDeleteUUP really needs to close above yesterdays low if shorts want a chance.
ReplyDeleteMost seem to be hesitant to buy here. Volume -12%, shooting for 169 mil on SPY.
ReplyDeleteFinally, 106.50 had been hit for SPY. Could it revert back down from here?
ReplyDeleteWhat do you think about the market at the end of this year?
A. Close higher than 10,000.
B. Close between 9000 to 10,000.
C. Close between 8000 to 9000.
D. Close below 8000.
what are the odds they close SPY at 105.5??
ReplyDeleteVolume is drifting down -14%, tracking for 165 mil on SPY. Sellers are holding for high prices.
ReplyDeleteAs the market goes higher this afternoon, the volume is getting less and less.
ReplyDeleteun f'n believable. might as well take SPY to 107.5 today. yesterday never happened, nor the day before. amazing strength on this rubberband rebound
ReplyDeleteEverone is watching what hell is going on. Volume still down -15%. Lets see what will happen in the last hour. Some one has to come out. Sellers or short sellers(coverers).
ReplyDeleteno doubt, there could still be one hell of a short squeeze into the close. I am hoping the big boyz missed it this a.m. and want to bring it down into the close. not too likely though
ReplyDeletewe're in the top half of hyperbolic channel and grinding down...it will go to the top to be shorted.
ReplyDeleteI have 42.70 on the Q's.
SPY volume running at -10% now. Smart money selling now. That is how I see ot.
ReplyDeleteYup, this is it. The beginning of free fall the last 30 minutes.
ReplyDeletedon't forget, end of the month window dressing
ReplyDeletejust dumped my SPXU for a loser into this little selloff. another f'd up day for me. happy to get a chance to get out for smaller loss though.
ReplyDeletematt, i do not subscribe to WSJ, so could not read article. Saw it was about Saudi Aramco changing from WTI index to a US Gulf Index. what are implications of this as I could not read article?
ReplyDelete