If it closes the morning gap by this afternoon, then SPY would have make reversal sign top. If SPY continues to go higher, then it will probably forming a "double top".
Still market participation is only 50%. When bulls realise there are no buyers to unload their bags, this could drop a lot faster than it gone up. But remember, this game will not end today. It will continue a lot further than we anticipate. Just play the games we have better odds to win. Short SPY 108.6, Stop 109.
While NASDAQ Russell weakened, DOW showing strength. That is definitely bearish sign, or at least profit taking has begun for the day. Take one day at a time.
well, if you are short today, you have one thing going for you. The four stooges on Fast Money all said to BUY into the close today. what are the odds they all get it right? I know, technicals say pretty good, but they are typically pretty good contraian indicators
This was seen just last week in the PowerShares Dollar Index (UUP) -- with the dollar intimately tied to oil prices, it has implicit tail-wagging potential -- when trading was actually halted pending the filing to issue new shares. It should be noted that there was very unusual option activity in the PowerShares Dollar Index the day before the halt -- more than 250,000 of the November $23 calls were bought and someone, having seen the filing and realizing shares were in short supply, gamed the system by scooping up shares and call options, creating a short squeeze.
I have a gut feeling that the top in Dow is gonna be at about 10350. small caps not partaking in this rally, just a jam job by the big money for end year performance/illusions
Another loser for me, I had perfect exit point on tiny sell-off, a tough one to swallow, but losses could have been much larger. these gap n go moves are enormously strong. can't fight it and should not fight it. I am a dummy
I must be begging for pain, but will say it right here, right now....If we hit 1100 tomorrow, I will short the crap out of it until they prove me wrong. watching Fast Money right now, and they are giddy as chit!. Based on their pathetic commentary, I am gonna trade for at least a short term top tomorrow. How many days can they gap n go? looking for another gap tomorrow.
Now watch how SPY plays out at 108.50. Also QQQQ had hit 43.
ReplyDeleteVery suspicious rally. Volume is half of average daily volume.
ReplyDeleteThis is like an election and one party does not want to participate, other party wins unanimously.
ReplyDeleteAre you guys riding this bull or sitting on side lines. I can't get myself to buy. just shorted some SnP via SPXU
ReplyDeletewaiting till after 10:30.. but still looking up.
ReplyDelete$TRIN at .46.. be careful
longerid
I am looking for a close below 1080. If it closes above, all bets are off. incredible strength in market.
ReplyDeleteI think top in for the day.
ReplyDeleteThere is a morning gap today. At some points it will be filled.
ReplyDeletegcl, the million dollar question is...do they fill gap today or in two weeks???
ReplyDeleteIf it closes the morning gap by this afternoon, then SPY would have make reversal sign top. If SPY continues to go higher, then it will probably forming a "double top".
ReplyDeleteThe earning season is about to be over and the Fed spoke last week. Let's get back to normal schedule.
ReplyDeleteStill market participation is only 50%. When bulls realise there are no buyers to unload their bags, this could drop a lot faster than it gone up.
ReplyDeleteBut remember, this game will not end today. It will continue a lot further than we anticipate. Just play the games we have better odds to win. Short SPY 108.6, Stop 109.
There are no economic reports unitl Thuraday claims.
ReplyDeletehttp://mam.econoday.com/byweek.asp
ReplyDeletedigoleg
While NASDAQ Russell weakened, DOW showing strength. That is definitely bearish sign, or at least profit taking has begun for the day. Take one day at a time.
ReplyDeleteVIX starting to bounce. people buying protection into the rally. does not mean rally will stop though. this market is a bitch to trade
ReplyDeleteI'm sitting tight and waiting for now.
ReplyDeleteNo need to try to trade it today.
frets
UUP 22.49, this where it gapped up intraday last week and filled the gap now. Lets see where it goes from here.
ReplyDeletewell, if you are short today, you have one thing going for you. The four stooges on Fast Money all said to BUY into the close today. what are the odds they all get it right? I know, technicals say pretty good, but they are typically pretty good contraian indicators
ReplyDeletewouldn't a good treasury auction be deemed as dollar positive ($ bullish)??
ReplyDeleteonce againg, big gap up in the morning and no pullbacks whatsoever. incredible strength
ReplyDeleteWe are close to the top of a rising channel.
ReplyDeleteI think you can short here but cover quickly in the morning and get long, IMHO.
I believe SPY had hit the top for today at 109.05.
ReplyDeleteAlso the spot gold is breaking down.
I gold just filling the gap and headed higher this afternoon? tough call
ReplyDeleteI just shorted CLF at 37.69.
ReplyDeletehere comes full melt up mode. fund dumbs chasing performance, can't miss out or get fired at year end. what a f'n system we have.
ReplyDeleteIf I am getting accurate readings on VIX, i would say that may be the bottom on VIX for the day
ReplyDeleteHoly Chit, looks like they want to test 1100 today. Why the hell not???
ReplyDeleteOil trying to break the daily uptrend line. that would be a nice start to stopping this craziness.
ReplyDeletebuying some SRS here for a end of day trade.
ReplyDelete8.5 points until 1100. incredible
ReplyDeleteSince I mentioned about 1.5 point trend for SPY last couple weeks ago. 105, 106.5 and 108. So the next target could be 109.50.
ReplyDeleteI think someone here mentioned UUP calls last week
ReplyDeleteconvedam
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http://www.minyanville.com/articles/exchange-traded-funds-commodities-swap-regulation-minyanville/index/a/25357/from/yahoo
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This was seen just last week in the PowerShares Dollar Index (UUP) -- with the dollar intimately tied to oil prices, it has implicit tail-wagging potential -- when trading was actually halted pending the filing to issue new shares. It should be noted that there was very unusual option activity in the PowerShares Dollar Index the day before the halt -- more than 250,000 of the November $23 calls were bought and someone, having seen the filing and realizing shares were in short supply, gamed the system by scooping up shares and call options, creating a short squeeze.
Here comes the end of the day selloff.
ReplyDeleteI am dumping my shorts here. Chit.
ReplyDeleteno sell off. just a bout of profit taking before final squeeze into the close
ReplyDeletethey won't take this down until they get all the "tecnical" short traders out. DIA at new highs, SPY soon to follow?? then, the big take down.
ReplyDeleteI have a gut feeling that the top in Dow is gonna be at about 10350. small caps not partaking in this rally, just a jam job by the big money for end year performance/illusions
ReplyDeleteAnother loser for me, I had perfect exit point on tiny sell-off, a tough one to swallow, but losses could have been much larger. these gap n go moves are enormously strong. can't fight it and should not fight it. I am a dummy
ReplyDeleteHoly Chit, look at them goooooo! when are we gonna get the blow offfff??? may be close, or is this just the start of more bull runns
ReplyDeleteGood job by the specialists. SPY had hit 109.50 too.
ReplyDeleteJust look at this board. It seems most of us want market to go down. I guess eventually it will, but not when we want it. Market will do its thing.
ReplyDeletePCLN going up crazy. It may run like AMZN. Be careful.
ReplyDeleteI must be begging for pain, but will say it right here, right now....If we hit 1100 tomorrow, I will short the crap out of it until they prove me wrong. watching Fast Money right now, and they are giddy as chit!. Based on their pathetic commentary, I am gonna trade for at least a short term top tomorrow. How many days can they gap n go? looking for another gap tomorrow.
ReplyDelete