Shop S-Mart!

UPDATE 2:20pm EDT: 899.89? WTF is that? A price label for a 32” HDTV? LOL

Careful bears – we are consolidating sideways – just look at the past month and project it on today and you understand what I’m saying.

“You primitive screwheads” – LOL – that shit NEVER EVER gets old. I probably have seen this movie 20 times by now…

BTW, I can’t believe only one rat commented on my beautiful CPC and NYHL charts – only noobs visiting these days or what?

UPDATE 2:30pm EDT: 900 will not be denied! Told ya rats! Who’s your daddy? Share the love or I have to reach for my chainsaw.

UPDATE 3:06pm EDT: In preparation for tomorrow’s ’stress test’ announcement (cough cough) I just got myself a GLD butterfly. It was very cheap and it’s a lottery ticket obviously.

I think this is a good alternative to holding my GLD puts into OPEX.

This entry was posted on Monday, May 4th, 2009 at 2:22 pm and is filed under Market Outlook. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

molecool

MONDAY RUB DOWN!
Implicit Trader

I think Fuji said it best this morning:
"This Market Is Becoming So Predicatable"
: )

However, the only thing I'd add is instead of the NQs leading the tape, today was noticeably driven by the ES.
DoubleNaughtSpy

The bears are experiencing the "Soilent Underwear" scenario. I should know since I are one. :-)
ropey

lmao AIG say they dont need new cash, that's because they've been given 180bill$ doh lol
T. Waffle

Closed all position with huge loss. Fuck this tape.
Anna

Ditto my friend! :-)
molecool

WHY are you fighting two different systems which were pointing up? Zero plus evil.rat.

Three actually, if you count resident.evil.
T. Waffle

I was long on NQ but got raped by ES. I was short ES. Need to sign up for ES now.
BigHouse(Aka Mr Vix)

It has been all XLF this afternoon
mrclam

i was crying about it last week, but the evil.rats were very evil today :)

sweet Jesus look at that, 900 /ES
molecool

WAIT for the close ;-)
mrclam

waiting :)
DavidDT

899.9999 is the same as 665.7859590433 - just a subject for coffee table talk :)
Time for market to break down - NOW
newbear

The big zero saying anything to anyone?
Fujisan

Mole,

A key to a lottery ticket play is to place your shorts within one standard deviation so that the underlying have decent probabilities that it could hit between your longs and shorts. The difference b/w directional BF and lottery ticket is the length of the wing. Your position seems to be outside of the standard deviation and the underlying may not be able to hit your longs.
vidosole

Fuji,
am in SPY Bear Put spread 89/93. What you would sugest as adjustment in case we continue to go up. Ofcourse other then to stop them and get out.
Fujisan

The best bet is just to close our your position. There are ways to adjust it, but your mouth (the length between your long and short) is not big enough to create a good BF or BWB (plus it would cost you more money).
maya

Fujisan
what are you looking for before you go short?
SirFrankie29

Whats the easiest way to tell if you are within 1 std dv?
Fujisan

If you have a TOP platform, set your probability range to 68%. That's one standard deviation range.
molecool

I know Fuji - but I have a feeling we get there before OPEX. Let's see what happens...
tranchefoot

Doesn't that assume a normal distribution price? Price movements have been very skewed as of late. Does TOS (or anybody) have a tool that will estimate the SD from the current, real price distribution? I shouldn't be so lazy, eazy to do in excel...
guitarlover

Cmtl continuing it's beautiful decent. 13% now...
Implicit Trader

Kick ass.
SirFrankie29

/es still has not broken 899
Guest

The stress test results are already known among the 19 bank CEOs and senior management. It has probably leaked...

www.mikevadon.blogspot.com
lester

I have closed all my SPY Puts. Not standing in the way of this train. If you believe I am a contrary indicator, then it is time to short.
gusrock1414

Just doubled my short position on your recommendation. I have been waiting all day for Lester to say that. You are a great contrarian indicator.
lester

close em I just went long (for ten minutes)
gusrock1414

Lester, I don't care about your trades. I care about making fun of you and your constant back and forth trades. The only people on this site that is worth listening to on trades are Mole, Fuji, and Anna. All others should be quarantined. I love this site but mole, we got to stop this endless supply of weak comments.
lester

There is name it there that I would like to use in response to you, but
it taken already: and that is CandleStickEmUpper
lester

I retract that comment, it was uncalled for, I'm just pissed. And I actually agree with you and try to listen to Mole, the rest is noise. I do not understand the plays that Anna and Fuji take, but they are respected too....
gusrock1414

Lester, what I am trying to get you to understand is that you are the "noise". Ok, im done.
Earl of

Weak
Implicit Trader

Dude....Be cool to Lester. The fucking guy's trying.

"I love this site but mole, we got to stop this endless supply of weak comments." - btw, I have yet to read any calls out of you......Care to share or just denigrate?
gusrock1414

Bala, I know he is trying. We all are "trying" but I don't want to see every move he makes for crying out loud. Its not helpful to anyone. I really don't care to make "calls" because I am frankly not that good. It just frustrates me that I have to pick between 75% crap of this commentary to get good ideas.
lester

out of long. Made $120. Long slow road to win it all back.
aum_namoh_shivay

i guess ther are adding sales tax to 899.89 ...what do u say !!!
buyemsellem2000

bought a little FAZ @6.90
katzo7

I am getting a target for this POS rally at 916, then 1000. I don't like it, been waiting (my whole fucking life it seems) for a pullback to get out of some shorts. Been at work all day and was hoping you guys could kill this thing.

Trannies up 6%, huge move., VIX only down .85%. Strange.
DavidDT

may be VIX is telling th estory...
BigHouse(Aka Mr Vix)

XLF still melting up as expected......Next stop in the next few days is 12.50.There are alot of people still short banks..Its going to get ugly for shorts.. Staying long
Squidman

Not sure why you don't see us there in a few minutos....
aum_namoh_shivay

42 inch HDTV at costco with 100 USD manufacturer's instant discount.!!!
T. Waffle

Doesn't look good for Bears!!

:tears:
Anna

nothing goes up in a straight line babe hang in there.

Back into Apple puts (scalping to make some $) :-)
Autopsias

One of these days you need to explain me what is that of being a bear, and why would one be a bear... Or a bull for that matter...

I prefer to be a martian, we just want to make money if it goes down, and make money if it goes up... And use gut German syzzzztemzzz in the procezzz... ;)
Forkoholic

>899.89? WTF is that? A price label for a 32” HDTV?

Mole, r u still shopping from Neiman Marcus catalog?
I bet u can find one below $500
Anna

Nice Scalp on Apple puts
Squidman

Hey Annamall, why is my Wynn butterfly not filling when it's hit my .65 strike multiple times. Do you do market orders on these?
gusrock1414

Squid, the .65 is the bid but not the ask. You have to go to .75-.80 to maybe get your fill. I got mine in at .80.
Anna

True true, You usually have to go somewhere in between :-)
Squidman

Thanks gs, went to .75 but got a "server error mssg". Oh well.
Anna

still having problems with posting. I never use market orders. With BF and BWB (whenever there are multiple legs, it's a bit harder to fill)
Anna

oh god no, never, because there are multiple legs/strikes it is not as easy as a straight put/call.
I am @ 77.50 (27.50 down so far) you sometimes have some slippage on these butterflies/Broken wing Butterflies.
Squidman

Thanks Annamall--maybe next time for me.
T. Waffle

:bowdown: @ molecool

Great call on SPX
Implicit Trader

"What in Tarnation?" NQs going insane

http://docs.google.com/Doc?id=dfjr22bn_74wdmsjvtc

Note: I'm zoomed in on the above chart. It looks tremendously more ominous from a wider vantage point.
Squidman

It is strange. Maybe due to the supply going back to October? Next stop for XLF is a lot of supply going back to the December silliness at around 11.50.
Implicit Trader

I'm more inclined to label it plain old "fuckery"
You may be dead on re: XLF.... : ) (well, if we were in say,
reality, i suspect you'd be proven correct.....)
ropey

Well the comments just out from Jamie Dimon are probably going to put a sock in any exuberance..
rhae

hope so Ropey, tired of gagging on this sock
Squidman

Well, if you are looking for the good news to end this rally, just look at yahoo finance. Granted, they are the uber cheerleaders, but, I use them as a foolish sentiment guide and it looks pretty foolish, even by standards of late.
Guest

I have highlighted a few penny stock ideas (high risk) on my blog which seem to be working today. My recent call on GLG associates is working as well.

www.mikevadon.blogspot.com
Callie

Long FAZ 7.22.
Callie

Well, that didn't last long, stopped out at 7.02.
rhae

GS 10m RTL ( resistance trendline) 132... will the market stutter?
BigHouse(Aka Mr Vix)

JPMorgan May Be Asked to Buy More Banks: CEO DimonJPMorgan Chase may be called on by US regulators to acquire more ailing financial institutions, CEO Jamie Dimon said
funkypenguin

You haven't heard - ailing financial institutions are good - should lead to an financials rally

This whole thing is obscene topsy turvy nuttiness.

Once some sanity arrives I "think" we will fall hard but hey who knows, perhaps the moon is made of blue cheese
T. Waffle

Look how happy cramer is. LMFAO
Anna

He is the biggest Doh doh I have ever seen, looks like he's drunk! Picked up some ITM Apple puts to scalp the other side.
T. Waffle

He is a joke! Do total opposite of him and you will make big money.. booooboya
Anna

LOL
LostIllini

Tried that and I'm getting killed.
Douala

The lines are still holding both QID & $Compq

http://stockcharts.com/h-sc/ui?s=QID&p=D&yr=2&mn=0&dy=0&id=p48723036896&a=166740367

Scaled into QID @ 35.6 [with a tight stop]
disrespekt

mole, quick Q...what technically are the red and green mole indicators in terms of how they are derived? Also the white line between is not merely a summation, could you give some details on these or are they trade secrets?
ropey

recession? what recession..
BigHouse(Aka Mr Vix)

Its a melt up....Long live the Bull market lol.Cramer is going to have a field day tonight on this market
Implicit Trader

"I can’t believe only one rat commented on my beautiful CPC and NYHL charts - only noobs visiting these days or what?" - Truthfully, I couldn't friggin read the damn NYHL chart. I couldn't tell the difference between the MAs and actual data reading. As for the CPC, well, I put that shit aside a while ago once things started getting screwy with the low participation levels. Besides, all one had to do was look at OI (over the past month) on the SPYs to know the market was gonna go the opposite way.

Edit: Don't mean to sound cocky re: CPC but its what you & Fuji taught us.
rhae

SPY daily, this is a chart I posted Apr. 18 on calculated R&S leveles... did I think it would get to the line , not even on the chart 937.50. At the time, I though no way.. But I saved the chart anyway, cuz God only knows...

http://www.screencast.com/t/w4YgSQvd

jeez sorry SPX..
T. Waffle

There goes the 900.

BTW Sell off in last hour or rally?
nepharis

Not sure, but I don't trust this tape further than I can throw the CBOE. The fact that the /NQ has been in a 10pt range since 10am is highly suspicious. I'll be ready to jump on whatever move emerges around 3:15.
T. Waffle

100% agree NQ is lagging to create new highs. So let's see I am short ES @ 896 and NQ @ 1419
nepharis

Nice, my /NQ limit sell didn't fill on the last spike -- missed by half a point I think. Doh! Hoping for another push to 1420 area for a comfortable short.
T. Waffle

this should be the good entry point. 3:15 will show the real picture.
nepharis

Filled my short @ 1420.5, stop @ 1424. So far so good... you still holding short?
T. Waffle

yes still holding. will close all position at close.
Implicit Trader

All I can tell you is that 80% of the time when the intra-day price action produced the same pattern we are looking at now, we've pushed higher since this rally started.
newbear

I would hope they sell it off last hour but according to the rules of the game, they will try to jam it up in the end.
mrclam

and it is finished.
richNYC

Someone needs to yell at the SPX to break over that damn 900 and be done with it!!!
mrclam

come on mole, these days 899 will get you at least a 42" :)

Shop S-Mart!

feed

twitter

spx zero

poll

recent misdeeds

categories

archives

swag outlet!

search site