Northeast area is having another big snowstorm.
The snow from the first two snowstorms didn't melt all the way yet and here comes the third one.
The market gapped down more than 100 points. If it trades like this after 10:00 AM, it will close over 100 points down today.
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Like I said yesterday on the first post. It was a special discount for shorts when it gapped higher yesterday morning.
ReplyDeleteI am still expect SPY to ht 108 again. Then SPXU will be around 38.50 to 39 area.
I'm glad we missed out on the snow. I would not be able to take a 4th major snow storm this year.
ReplyDeleteI'm kicking myself for bailing on SPXU @ 36.00 yesterday.
Keep up the good work.
lychni
I long on SSO until we hit new lows, and then I am out. these gap and craps are absolutely untradeable, unless you gamble overnite. I will look for gap to fill, if not, adios to my long SSO. Also, gold miners are extremely strong this morning. This is somewhat bullish, imo
ReplyDeletein spxu@37.34
ReplyDeletestriaole
WHOA!!
ReplyDeleteI am still long, but this may just be a lunch time bounce. lightened up a bit, but still looking for an end of day jam job. It is what they do. Not sure how, but someone loves to buy the spoos into close. Big money protecting theirs, i guess.
ReplyDeletei'm out 37.31 for -.03. was up .40 and feeling good, just to get slammed with the 12:00-12:40 reversal.
ReplyDeletetoday is very fishy.
bedlessi
NEM blew out numbers and is up big. It is the new favorite gold stock for the big funds (very liquid). It has been outperforming other miners for weeks. I am not in and pissed, but that's how it goes. As long as gold miners are ripping to upside, I will not short this market.
ReplyDeleteWow, I must say that GS and GOOG are very weak. This is a confusing market to read. Are gold miners going to finally diverge from general market and rally while SnP sells off? If they hold today, it will be second big down day in SnP that gold miners outperformed by a large margin.
ReplyDeleteYou know something's about to blow up.
ReplyDeletehttp://community.nasdaq.com/News/2010-02/Something-Very-Strange-Is-Happening-With-Treasuries.aspx
ReplyDeleteI am out of my SSO on that spike. Just do not have a good feel for market direction. I should not have missed NEM earnings I follow gold miners closely and blew that one.
ReplyDeletewow - i'm glad i bailed.
ReplyDeleteat least you got some jdt ;)
dow now -89
That was a huge short squeeze, lets see if they can keep momentum going. Market is in crazy mode, lots of indecision
ReplyDeleteSDS close at 35.60 ??? last hour will be interesting
ReplyDeleteDamn, that is one powerful move. Cant stop this train. Mouth may be onto something:)
ReplyDeletejust about closed the gap
ReplyDeleteWTH! lol
twakin
i swear I'm going to start day trading this market.
ReplyDeleteI try and it's not as easy as it looks!
ReplyDeleteI've been trying to position/swing trade it over night and don't have the guts like I used to.
miesses
I'm way too much on the short side myself. I think I need to sell off some if we get another giant gap like this morning.
ReplyDeleteShorts, be very careful here. This market is getting ready to rip 40 to 50 handles on SnP. Needs to clear highs from two days ago, but once that happens, it is off to the races in a big way.
ReplyDeleteI am all in long SSO and NEM. lets see if those bastards take em up today. If you cant beat'em, join'em.
ReplyDelete