Thursday, December 3, 2009

December 3rd, 2009

Another false breakout. My SPY target is at 106.5.
Posted by at

14 comments:

  1. AnonymousDecember 3, 2009 at 11:09 AM

    gcl, I am in. long SDS, SRS and TZA. this market is freak'n strong. I do not get it. may have to cover for a loss is they do the usual afternoon rally

    ReplyDelete
  2. gcl106December 3, 2009 at 11:26 AM

    JDT, when SPY closes below 111.00 and QQQQ closes below 44.00, the market will meet two goals target.

    1. Fill the last Friday morning gap.
    2. Reach 106.50 for SPY.

    The internal market is crippling.

    1. Natural Gas is breaking down.
    2. Financials are weak.
    3. VIX is bouncing off the strong support level at 20.
    4. Unemployment continues to rise.
    5. Forclosures continues to rise.
    6. Dubai is in debt.

    ReplyDelete
  3. AnonymousDecember 3, 2009 at 12:37 PM

    And the number this morning sucked. 48 or so vs. 51 expected. i think it was ISM number, but not sure. Below 50 is shrinking (not growing) economy. Wow, natty gas is getting slaughtered. NG is the real indicator of health of U.S. economy.

    ReplyDelete
  4. AnonymousDecember 3, 2009 at 1:28 PM

    and retail numbers sucked, too. But....PCP is hitting highs (my SnP indicator stock) and gold and silver are rallying again. AND, the four clowns on fast money (lunch preview) all said to short or sell today. that is not good, they are usually wrong.

    ReplyDelete
  5. AnonymousDecember 3, 2009 at 2:12 PM

    watching IBM and GS. IBM needs to roll over. AMZN is weak, as is V and MA

    ReplyDelete
  6. AnonymousDecember 3, 2009 at 2:14 PM

    c'mon SRS, be a good etf and follow your friend SKF.

    ReplyDelete
  7. AnonymousDecember 3, 2009 at 2:20 PM

    that might be the break (itraday trend line) in SnP right there. I sure hope it holds

    ReplyDelete
  8. gcl106December 3, 2009 at 2:50 PM

    The market has been hovering around like this the past 3 days. One way or another something gotta gives.

    ReplyDelete
  9. BASDecember 3, 2009 at 3:50 PM

    finally a decision has been made ;)

    too bad I had no position.

    infaud

    ReplyDelete
  10. gcl106December 3, 2009 at 3:52 PM

    I have been saying that SPY needs to close below 111.00 and QQQQ below 44.00 in order to close the last Friday morning gap.

    The SPY target is 106.50 area.

    ReplyDelete
  11. BASDecember 3, 2009 at 3:57 PM

    I know, I know ;)

    just trying to convince myself. got pissed off at work so I went for a walk to get some fresh air.

    I got an email about revising my estimate completion date. well it would have met the completion date if it didn't sit around in the process waiting for approval for 4 weeks.

    ablen

    ReplyDelete
  12. BASDecember 3, 2009 at 4:07 PM

    Is this Wall Street tax on $ Amount ?

    I think it would bankrupt me faster.

    .25% is .0025, right? on a $50,000 that's $125 'tax'? is that on both buy and sell? so that's $250? so much for trying to scalp anything. You'd have to hit home runs to survive.

    Will it apply to the mini futures ?

    I won't be trading if it is on the amount.
    odds are better at the casino then.



    http://thehill.com/blogs/blog-briefing-room/news/70305-dems-to-introduce-stock-tax-proposal

    http://www.reuters.com/article/politicsNews/idUSTRE5B24J520091203?feedType=RSS&feedName=politicsNews&rpc=22&sp=true

    ousne

    ReplyDelete
  13. BASDecember 3, 2009 at 4:07 PM

    This comment has been removed by the author.

    ReplyDelete
  14. gcl106December 3, 2009 at 4:13 PM

    BAS, it is a proposal. I don't think it will pass.

    ReplyDelete

Subscribe to: Post Comments (Atom)