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OPX Play
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OPX Play

by The MoleJune 11, 2009

Fujisan here.

Mole asked me to put together a quick post for OPX play.  So I will make it nice and quick.  Please note that the below trades are all high risk/high return play so be prepared to lose the entire premium if the trades go against you.

If the underlying stocks pass through the short strike prices, you could do one of the followings:

1. close the position, or
2. add another position (butterfly, condor), or
3. buy back short options (most expensive – not recommended)

GOOG

GOOG has already rolled over this week and I have started putting together OTM condor and skipped strike butterfly (Modi-fly).

Here is my GOOG OPX target.

Here is my OTM condor with strike prices of 400/410/420/430.  This condor is a combination of a debit put spread of 420/430 and a credit put spread of 400/410.

Here is a Modifly (please don’t google this – someone came up with this wording and I’m just using it).  Please note that the ratio between a credit and a debit spread is 2 to 1 (i.e., a credit put spread of 400/410 should have twice as many contracts as a debit put spread of 410/430).

AAPL

AAPL also started to rollover this week and here is my OPX target.

Here is my June AAPL 130/135/140 butterfly.

GS

Keirsten pointed out that GS has broken out of the trend line – however, I still see a vertical support line not broken as of yet, so I would probably wait until the support is broken before I put this on.

Here is my GS June 130/135/140 butterfly.  Depending upon the way it breaks the current support level, I might put on 125/130/135 butterfly instead.

Here is my GS June 125/130/135/140 condor.  This is more expensive than butterfly but has a wider range.  This should be able to capture further downside potential.  Again, if GS is already hitting much lower than 140, I might as well go with 125/130/135 butterfly.

RIMM

Annamall picked up RIMM and I decided to join the party.  Here is my OPX target.

Here is my RIMM June 85/90/95 butterfly.

Here is my RIMM June 85/90/95/100 condor if you like to have a wider range.  RIMM is already in an overbought condition and it’s hard to imagine that it could break above the current trendline, but if you think that RIMM has a surprise upside and planning to hold on to your position through earnings, this one is for you.

That’s all for now.  I am probably going to skip my weekend post as this is pretty much all I have for this week.

Have a good weekend, everyone!

Fujisan


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

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  • Bartholomy

    Important date 16 june. BRIC meeting… big discussion on dollar value.
    Maybe they will change de currencies exchange to get out of dollar.
    Ben from the Fed introduce the fact that the rate may go up.
    If so, I beleive stock will go down.
    The gvts are taking all the risk now and they are trying to bring back private credit system.
    Recent bank profits are fake and are only number crushing comptability.
    No wealth have been produce by economic dynamics yet.
    I'm short small position.

  • EDC

    Fujisan

    excellent as always, thank you.

  • molecool

    That was NICE and QUICK??

  • http://investorshub.advfn.com/boards/board.aspx?board_id=12013 UPB

    BIDU sold off at the open and held around 300 today. I like the 260' puts closed .65 x .70 as a lotto for next week.

    RIMM was in the $38 – $41 range around last earnings at the end of expiration week and didnt move drastically in either direction.

    I'll be accumulating some of the 75 puts and 100 calls until late thursday and will get rid of most of em b4 the close. I think the kool-aid is being served on RIMM and the rest of the market at this point. The euphoria is way overdone. Check out this CNBS headline:

    We’re ‘Absolutely’ in a Bull Market: Stock Picker
    http://www.cnbc.com/id/31245422

    If that doesn't make you want to dump all your longs I dont know what else will. LOL!

  • ropey

    Quick question for pattern traders…so this morning we had a nice bullflag form which took us from roughly 932 -> 950 that's an 18 point move..
    then a bullish pennant formed…
    The breakout point was ~948..

    So 948+18 = 966 or there abouts – this coincides with an uppertrend line i've had on my charts for sometime…

    Am i going nuts and misreading this?

  • http://investorshub.advfn.com/boards/board.aspx?board_id=12013 UPB

    BTW the dollar is gaining strength tonight. might bode well for whats left of the bear contingent. but if those $134 billion in bonds are real then the dollar and treasuries might take a hit. which still bodes well for the bear left amongst us.

    http://market-ticker.denninger.net/archives/111

  • ropey

    thanks fujisan and mole for the updates as always

  • standard_and_poor

    Thanks for all your hard work Fujisan, I also love that print big-time.

  • ropey

    how much do guys like that get paid? i'm quite staggered to be honest..then again he's probably as crooked as the rest and wants out asap..

  • jpt123

    Quick question for Fujisan;

    Do you ever use LEAPs for your complex option trades?

  • http://forkoholic.spaces.live.com/ Forkoholic

    Our next possible turning dates are Friday & Saturday.

    June 12th is Fibonacci 610 calendar days from Oct 11, 2007 top
    June 13th is Fibonacci 2584 calendar days from May 17th, 2002 high

    Yet our expert NYMOlogyst suggests what rollercoaster may continue
    Friday or Monday which perfectly coincides with our turning date.

  • rhae

    Fujisan, I just can't compete with your nice charts… Someone mentioned statisitcal analysis today… Sure why not… This is my statistical analysis for SPX, which seems to jib with your Op.Exp. … just a simple down and dirty chart……….

    http://screencast.com/t/S2FrMg5IH

  • amgrant

    Sorry I had a late post too…

    Will have a follow-up post tomorrow re bonds…girlfriend's parents came over and we dipped into the wine for way too long, so I wasn't able to complete tonight's post.

    http://www.ambgtrading.com

  • rhae

    tracking the 1m chart, I can see the first bull flag plainly… but I do not see a bullish pennant… sorry, I must be going blind… can you snapshot a chart? that always helps…

  • v8muscle

    Strange little channel here on /es: http://screencast.com/t/NllqeODu

  • Callie

    Went short oil this morning through an oil-CFD – new here, don't know of it's avalaible in the US – you can trade small, I just covered it at CL 71.50, made 84 euro, more of an experiment than a serious trade. There may be a bit more downside in oil coming, though.
    Covered my AUDUSD puts yesterday for a 76 $ loss.

  • Duuuuuude

    You are amazing Fujisan. We are lucky to have you as a contributor here. Mole should double what he is paying you!

  • innatedc

    The dollar needs to reach and breach $82 area in order get the downward momo on stocks going. My thoughts are with Denninger as well, Big Ben just cannot allow the dollar to fall….

  • Tasman

    S&P…thanks for the SQNM/CRBC trade….how far can these run?

  • innatedc

    And oh btw, a big thanks for Fuji for her work……I'm telling ya if ever you need a publicist for your book….:)

  • ckeltner

    Thanks for taking the time during the week for this Fuji, I think it helps a lot having a small one going into opex weekend.

  • Laksh

    Fujisan, Great work. Yesterday you said AMZN is about to hit 52 wk resistance. Could you post a put spread each for RIMM and AMZN? Thanks.

  • TomOfTheNorth

    “…I think it helps a lot having a small one going into open weekend.”

    I respectfully disagree. Think it's better to have big, brass ones…

    ;->

  • ckeltner

    That was a funny Doh moment 🙂

  • TomOfTheNorth

    LOL

    Couldn't help it! Had too much hi-test already this morning, got this kick-ass version of Harder Better Faster Stronger bangin' away in the background….

    http://www.youtube.com/user/daftpunkalive?blend

  • http://www.cafes.net poisonfrog

    I'm tempted to go long here. The EUR/USD is at the end of a channel, and I know a lot of bears jumped in yesterday. It's primed for a Friday short squeeze so that people can buy more things this weekend b/c their stocks went up.

  • springheel_jack

    Well, there is a possible scenario today that could please almost everybody.

    For the bulls, a spike to 980 to satisfy their desperate need to climb higher. For the bears, all of whom will be short from 980, a sharper spike down for a close below 923, followed by a total meltdown on Monday.

    Obviously this does work a little better for the bears.

  • springheel_jack

    MLMT,

    Awesome call on the EURUSD heading to 1.40 from 1.41 last night. I wish I'd played it, though I was already long USDYEN so was already in a parallel trade.

    If the SPX makes it to 934 and turns back up we'll all need the name of your Swami.

  • Osso

    ..

  • springheel_jack

    If we reach 935 the best risk/reward trade today is probably to go long at 935 with a stop at 922. Max downside 13 point. Max upside could be 30 to 50 points, if MLMT is right about a blowoff top today.

  • http://www.mylifemytrade.com MyLifeMyTrade

    Holy smokes – just woke up – I had shorted one contract of YI at 15.400 last night (check my disqus history). Just closed the sucker at 14.800 – sweet Mamma

  • springheel_jack

    Anyone watching gold & silver today? Pretty impressive drops.

    Significant USD surge & drop in oil as well.

    Positive for the bears if bad news is leaking.

    Positive for bulls if the MMS are pulling back in preparation for a surge up through resistance.

  • springheel_jack

    I was watching last night. Congratulated you just below. Pretty impressive.

    What are your predictions for today oh wise one?

  • http://www.mylifemytrade.com MyLifeMyTrade

    LOL – predictions work until they don't – don't place too much importance into them.. I also get more of them wrong than right…

    Where SPX goes depends quite a bit on EUR/USD. Oil has come down $2 from its recent highs – can't recall recent times when it has retraced so much. This could be significant.. Nasdaq has been showing signs of breaking down for couple of days… If oil and commodities join in, then the market could crack up and go down to 875-880… I must add thought that financials are looking strong today.

  • springheel_jack

    Well, predicting the future really is a notoriously chancy business.

    Slight slide in equities futures so far is eclipsed by the major surge in USD & slide in commodities.

    To a certain extent the USD is just catching up as it didn't confirm the late drop in the SPX yesterday. This is beginning to look like a major move up for USD though. If it is the SPX will close red today.

  • Osso

    As expected…GLD being hammered. Watch out below. May re test 200 dma.

  • http://www.cafes.net poisonfrog

    EUR/USD broke the channel line – might be false – but I learning that the gold market is good at predicting currency movements.

  • Keirsten

    It would be nice to see that inverse H&S play out IMO. G/L today Jack and TGIF! 🙂

    MLMT- Congrats on your trade! Nice way to wake up in the AM!

  • http://www.mylifemytrade.com MyLifeMyTrade

    I think oil has been due for some correction.. It was all about momentum – the sucker was moving up even when USD was strengthening – it was just too insane… Finally some sense has returned..

    I had been playing OIH, FCX daily riding them in both directions. I wanted to be short today.. but stayed out.

    OIH is gonna take in the rear today – oil down 2 bucks and SPX down a bunch.. We might see a 5 to 7 point down day for OIH – lets see how it plays out.

    The dip into the close yesterday was a sign that dip-buyers were giving up. I follow Rev Shark (no – that is not where my calls come from). He is very good at reading market sentiment. He has been saying for days that eventually bears are going to win the final hour battle.

    Yesterday he added after close that “dip buyers who have been successful sooo many times will not be discouraged by one failure and will be back again to make a stand today” – As I type this, gold has moved up 8 bucks from the lows of the day… And EUR/USD is shooting back up to 1.4000 – I don't think we go down this easily. If we go down from here, it will be nothing more than a bear trap.

  • annamall

    Morning everyone!
    God I slept late! I luckily sold 1/2 my ES longs (*I bought @ the low last night 937.00) for 3 points @ 940.00 which was the high overnight.
    I would get all giddy on this being a trend change just yet, Next week is OPX so expect allot shinangians (VIX) till then.

    I for one am fairly light as I don't feel like getting jerked around. + 1 for I saw Mylife's calls from yesterday and they were great!

    G/L to all today fridays are always whippy!

  • alphahorn

    Good morning all, looking forward to see if the seeds i've been planting the past few days sprout over the coming days. if it's a commodity i'm probably short it, long FAZ, SRS and UUP, good luck all

  • annamall

    BTW Fuji-san thanks for your Iron Condor. I also love love the print. I want one!

  • Keirsten

    Way to go Anna! This will be a much welcomed weekend break. LOL

  • ckeltner

    To convince me of a trend change, the spx needs to close below the 20 ema on the daily. I would prefer the market to lose it, backtest and then close under it. The bulls have yet to close below this line of support. Stockcharts has it currently at about 922.

  • annamall

    Hi Keirsten, thanks girl! Can't come soon enought right? Wine, dogs, cats, men and in that order! LMOL

  • annamall

    My Life see my post above!

  • Douala

    Osso

    I see 1st support of GLD @90

    http://tinyurl.com/mfh6jj

    GLD weekly chart

    http://tinyurl.com/manwwb

  • Keirsten

    X has broken its TL this morning, same with POT. GS might be a little stretched here going into the open, not sure- AAPL first target for me is 135.

  • ropey

    try the 5/15min – i haven't quite figured out how to screeshot the chart on a mac yet lol

  • Keirsten

    Indeed, my man has just about had it with my endless hours working at this for the last two weeks. I'm ready to get spoiled this weekend. And you just reminded me to go feed my puppies, poor things. LOL

  • swinger

    ES Update…

    Rollover day was yesterday, so volume has shifted from the June contract to September. Difference at rollover was about 4 points, so the support/resistance numbers (see post history) I have been quoting will be adjusted from here forward to reflect the September contract pricing.

    Market has essentially flat-lined for the past 10 trading days and has been hovering around the January 6th high of 935.50 (continuous contract adjusted). Why is that significant (in my opinion)? That was likely the most prominent point on the charts for any bear who shorted the down leg during the first quarter. By pinning price above that pivot, a >100% retrace has assured that no bear (trading futures) has a profit on any trade entered since November of 2008.

    June 19th is quadruple-witching day, and could be a huge payday for those who engineered the rally off the March lows. The bearishness was incredible at the start of the rally and the defiance continued for months. That was exactly the sort of environment that was needed to sustain a squeeze of this magnitude. Add a large dose of government and quasi-government liquidity to a determined set of bankers and the result is what we have seen.

    The bear abuse trade has reached a point of inflection, however. Market is nearing long-term resistance levels and the question is whether sufficient momentum exists to punch up and through to start a new long-term bull market—or if we are nearing a point where a pullback is necessary, and would even be welcomed by many as a place to take profits and re-enter at lower levels. Hard to say at this point what the plan is going forward—but we can look at some levels to watch and then react to whatever scenario eventually presents….

    Long-term trend (which started at 1424 in May of 2008) remains bearish below 977. Last intratrend entry was countertrend long at 894 (partials covering for LT bears). Upside target for that countertrend move is 977.

    Intermediate trend remains bullish above 877. Last intratrend ideal entry was at 802 on May 28th. Intratrend profit stop (sell partials) is currently at 923. Next upside target is 1075 for a 12: 1 gain/risk ratio from here.

    Short-term trend remains bullish above 915. Last intratrend ideal entry was at 883 on May 26th. Next upside target is at 977 for a >3:1 gain/risk ratio. Current intratrend profit stop (sell partials) is at 923.

    Long-term bears may be seeing a chance to re-deploy partial positions covered on the rally–near the resistance test of 977-1000 area.

    For those holding ideal long entries in the intermediate and short-term timeframes, the goal here is an eventual test and possible breakout of LT resistance. Significant long-side gains are now locked in and protected with the current profit stops. We should not see any significant selling volume until/unless the IT/ST support levels mentioned above start failing.

    This bear market rally has been a wonder to behold. The quarterly goals have likely been accomplished with the push above the January pivot high and quadruple-witching payday looms for the leveraged plays.

    …now we just watch the support and resistance and, as always, try to stay on the right side of the trends in the trading timeframe of choice.

    …my .02

  • annamall

    You are up bright and early! Go feed those puppies sistah!

  • alphahorn

    that was worth more than a nickel, nice post as always!

  • Osso

    yes….91.40 1st. then 90…..great..!!!

  • http://www.mylifemytrade.com MyLifeMyTrade

    More details on my short TBT play (which offers a sweet risk/reward)

    http://mylifemytrade.com/2009/06/2009-06-12-lon

  • EDC

    someone must have called gold and told them about inflation… wow down $20 so far… a bit much but it seems to finally be correcting.

  • standard_and_poor

    Morning brothers and sisters.

  • springheel_jack

    Great calls yesterday BTW.

  • katzo7

    Thnx swinger.

  • Osso

    you meant …deflationary….no…??? not this fake oil rally, or btw…..watching gold pull back…..as it was moving up with no impulse….

  • alphahorn

    NO TUNES, wats up wit dat?????

  • Keirsten
  • alphahorn

    wish you were still short HIG, cliff diving today

  • alphahorn

    here's one of my favorites

    http://www.youtube.com/watch?v=Jdjv5ZwQcdQ

  • springheel_jack

    I'm short oil from $69 as a longer term trade. Planning to add at $74 & $79 but I'm doubtful oil will get that far.

    Dip buyers definitely not beaten yet. Just looking through posts here shows that. I'm wary & watching until an opportunity appears today. Reluctant to take risks in the first hour particularly today.

    Capital preservation is the key thing really.

    I hope we reach your 934 level. Still time to do it. if we do I might go long with stops at 922.

  • springheel_jack

    It would be very nice to see it play out. Good luck today Keirsten.

  • alphahorn

    dats sum big ol red candles to start the day

    remember the target of the broken wedge

    http://www.screencast.com/users/alphahorn/folde

  • Keirsten

    Wanted to share really quick that the restaurant sector took quite a hit yesterday, so something to watch for weakness going forward: CAKE, BWLD, EAT, YUM, WEN. CAKE was upgraded by GS this AM though, just fyi.

  • Douala

    Just for you S&P

    http://upchucky.com/Home.html

    Jukebox on the left….pick your year then scroll down the list in the jukebox. Games on the left.. Only played Air Hockey so far. Was fun… Enjoy…

  • v8muscle

    I see supply getting eaten up

  • katzo7

    Watching GDX fall out of bed. Remember my EW5 spike down call? Still too early to go in though yet.
    AND of course, watching SPX do same, call and play based on the used car salesmen among other things.

  • anthem

    OK, scaling into more RIMM calls and GS puts. . . Let's hope that was a run up for GS and a rundown for RIMM .. .

  • annamall

    UM consumer sentiment coming up if it is good, get ready for a bull run guys!

  • annamall

    Hi again sweetie

  • annamall

    I like both of those calls!

  • http://stainlesssteelchicken.blogspot.com/ StainlessSteelChicken

    Long FAZ, stop at LOD

  • annamall

    I know, but you have to go when your stop loss is hit. 🙂

  • alphahorn

    sure quiet around here this morning!

    anyway, keep an eye on the 60 min SPX, the target of the broken wedge I showed on the 15 min chart just happens to be the bottom of this bearish rising wedge on the 60 min chart. watch the RSI on the 60 min if it stays below 50 then it might provide the impetus for a breach, however, we will be due for a wave 2 correction about the time it hits the bottom of the larger wedge, so i expect a bounce.

    http://www.screencast.com/users/alphahorn/folde

  • http://www.mylifemytrade.com MyLifeMyTrade

    Closing my short positions here.. I will again go short on the rip… Yesterday EOD is first time when dip wasn't bought.. I dont think dip buyers give up so easily.

  • v8muscle

    I don't think Timmy or Ben will allow it to be bad lol

  • annamall

    Added to ES longs @ 935

  • anthem

    The GS push doesn't suprise me. The RIMM pullback has surprised me. I didn't think I'd get another decent entry point after the last two days. . .

  • v8muscle

    $TICK looks like it might be turning around. its holding steady and only slightly negative

  • alphahorn

    Hey SSC, did you see my post on your blog last night???? $Tran playing out just as i predicted

    http://www.screencast.com/users/alphahorn/folde

  • rhae

    SPX 15m… and may the jerking begin… look where the .618 retrace and median pichfork collide…
    http://screencast.com/t/vaxRflL1D

  • annamall

    F GS JPM all green

  • springheel_jack

    I think the dip buyers thought they'd get a better price this morning & they were right of course.

  • http://stainlesssteelchicken.blogspot.com/ StainlessSteelChicken

    Yeah, I responded over there — nice call!

  • amgrant

    Morning guys. Looking for 945 on ESM9 today. Yes, still trading the old contracts…haven't updated my trendlines, etc on U9 yet.

  • annamall

    Hi V8! long or short cake or death!

  • v8muscle

    Tech needs to get its act together and head positive. Thats the only thing keeping us from popping hard.

  • katzo7

    Should be big red spike soon.

  • thelefteyeguy

    sentiment report scares me…

  • salvadorveiga

    Good morning everyone…

    May the trading gods be with you today 😉

  • Keirsten

    Yep, GS has to work off some oversold conditions this morning first, then I'm ready to pounce. JPM looks like it'll head down first when the time comes.

  • standard_and_poor

    closed longs at 948(last night and 938(today).

  • katzo7

    Yesterday was the up day, today is a down day. Monday may be up day or real big surprise.

  • alphahorn

    i'm seeing 3160ish

  • dingos

    Q's breaking below June channel. This is looking good if it can hold.

  • fa_q

    I covered my last 1/4 at 933 for 15 points. No need to be greedy and like to be flat on the weekends. Everyone be safe out there today.

  • springheel_jack

    Amen

  • amgrant

    Man, never been so glad to be wrong.

  • ZeroPointMind

    Bloomberg reports confidence rises, at 69. but less than expected, 69.5
    4th month up

  • lester

    looks like many here are looking to buy the dip today on SPX/Es. I am just watching for now.

  • fa_q

    Oh how I love to hit the button and then 2 more points drop. Oh well. Money is in the bank.

    +22.125 pts here at Evil's site

  • katzo7

    Lester, the big question is is this the beginning of my scenario #2, or will we roll into scenario #3. Have to get more data but we potentially could be headed for 918 to 922 today or Monday.
    Do not go long or short until #2 or #3 is decided.

  • http://www.mylifemytrade.com MyLifeMyTrade

    long 1 NQ at 1469.50 with stop at 1468.50

  • salvadorveiga

    I'm watching too…

    Will only enter if one of the lines in the sand is breached…

    I just keep playing the Forex markets… so far it's easier than ES which has been a bitch lately..

  • alphahorn

    ok for those playing along at home, we are hitting the target of the broken wedge, just so happens as this is occurring just as we put in 5 waves down and are due a corrective wave, keep an eye on the RSI on both the 15 and 60 min charts, when it reaches 30 on the 15 we bounce, but if it stays below 50 on the 60 watch wave 3 down rip through the bearish wedge on the 60 min chart and end all hopes of a rally, if anyone is looking at these let me know or i'll quit wasting time

    15 min chart: http://www.screencast.com/users/alphahorn/folde

    60 min chart: http://www.screencast.com/users/alphahorn/folde

  • springheel_jack

    The consumer numbers were lower than expectations. No massive optimism spike today by the look of it.

  • v8muscle

    Tech is finally reversing direction it appears. Big fight going on in /ES….

  • GDII

    consumer senti = 69 compared to 68 last month and 70 consensus.
    you sure they are not cooking the numbers?
    anyway i think 936 provides some support

  • springheel_jack

    I'm looking at these.

  • katzo7

    Yes, you da man.

  • Squidman

    I am! I'll be adding at the break. Thanks.

  • annamall

    God I hate Fridays, this tape can go either way.

  • salvadorveiga

    Mr Katzo… can you post your scenarios ? I haven't seen them… thanks

  • lester

    katzo,
    I have a further complication to consider. I am going to be on vacation starting at noon today and I am not sure what the hell I will do. I hate to miss out on a great short opportunity, but I am afraid to buy some Puts that might look great on Monday and then have the market reverse during OPEX week. I really only have three hours left before vacation, so I am just looking for a bounce play. If I take a bounce play, I do not want to hold that either during vacation in case the great short opportunity occurs. I am watching the 10 min MACD for a turn to get a bounce entry….

  • standard_and_poor

    Ladies night at the evil Rick James lair
    ear candy Aimee Mann :
    http://www.youtube.com/watch?v=4rVcOMCltW4
    (no one telll RJ I played non-soul) lol

  • annamall

    Big volume on buyers stepping in!

  • thelefteyeguy

    im looking 🙂

  • v8muscle

    ok well the selling has definitely stopped in tech. thats a good sign at least.

  • ckeltner

    Nice job

  • alphahorn

    ok wave 2 underway, remember it could wipe out most of what wave 1 accomplished, nasty reversal candle on the 15 min

  • molecool

    Hello???

  • isaiah64v4

    I am all eyes…always have been!

  • molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨
    ¨°º¤ø„¸ N E W „ø¤º°¨
    ¸„ø¤º°¨ P O S T “°º¤ø„¸
    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

  • katzo7

    Cannot advise you there.

  • molecool

    You guys NEVER learn – do you? During bear market rallies the tape pushes higher on bad news and drops on good news.

  • thelefteyeguy

    nice

  • lester

    Did not expect you to. I do hate being on vacation and worrying about
    the market.

  • http://www.mylifemytrade.com MyLifeMyTrade

    Moving stop on my NQ to 1472.5

  • katzo7

    OK
    #1. off the table, straight down from Friday highs
    #2. double top (954 ish), we go down from here
    #3. down now, build and head for 1000 SPX at some point

  • annamall

    hello!

  • katzo7

    Why what did you say?

  • salvadorveiga

    I'm leaning towards #3 …

    EWI has us at #1 and is similar to Mole's recent count… but I'm with #3, line in the sand is very close though so it should be resolved quickly…

  • dullmind

    Your not wasting your time, you have been spooky accurate lately. Keep up the good posts, and I will
    try to keep with you.

  • alphahorn

    great handle by the way, tried to post the hebrew of it but can't get the font to work

  • standard_and_poor

    might go back to long here? long again-938.96

  • amgrant

    Oh, that we were going to 945 on ESM9.

  • ropey

    RIMM pretty oversold on the hourly

  • springheel_jack

    Not always true though Mole. Good news often spikes the market up, especially on Fridays. Bad news moves the tape up too though.

  • standard_and_poor

    Morning sweetness.
     

    ________________________________

  • standard_and_poor

    Oh mannnn!  What a treat, I saved the site in my daily favorites. Thanks.
    Did you like the tune I played today, let me know your thoughts.

    ________________________________

  • standard_and_poor

    Wooohoo! Thanks sweetness.

    ________________________________

  • standard_and_poor

    Thanks, I'm on the case….. 
     

    ________________________________

  • standard_and_poor

    Reminds me, my hot tub is ready – AYYYemen. +1

  • standard_and_poor

    Thanks Fork!

  • standard_and_poor

    These are rockets in either direction, take some profits on sqnm, up 12% today – be very careful.
    use stops – I was stopped out on half positions last night but with profits. 
     

    ________________________________

  • standard_and_poor

    Morning sweetness.
     

    ________________________________

  • standard_and_poor

    Oh mannnn!  What a treat, I saved the site in my daily favorites. Thanks.
    Did you like the tune I played today, let me know your thoughts.

    ________________________________

  • standard_and_poor

    Wooohoo! Thanks sweetness.

    ________________________________

  • standard_and_poor

    Thanks, I'm on the case….. 
     

    ________________________________

  • standard_and_poor

    Reminds me, my hot tub is ready – AYYYemen. +1

  • standard_and_poor

    Thanks Fork!

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