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27
Oct
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Follow me on twitter: korenidan87
3:38pm
The bears are really not wanting to let go… everyone can see the wedge support there, and while it might not break today, i wouldn’t be surprised to see a gap down below it (due to futures action). If we open below… get ready to go short.
1:45pm
Those November short calls on AMZN 120 are starting to look better!
1:33pm
We are currently at a double bottom, but this means we are now potentially trying to break the wedge support… you want to see a 2 day confirmation break before bears truly take control, and 1051 on the SPX is the next strong support which could provide a retest of the wedge support as resistance.
12:32pm
By the way, those who believed in me, and held the SBUX short trade due to it being on the overbought list, i think you got rewarded today.
12:26pm
We hit wedge support this morning like we expected, right on the dot, and then we had a reversal, like mentioned in the video. A break of 107.23 on the SPY, would give the bulls another chance to break higher for today. However, if that fails again, we are in trouble.. we might be breaking the wedge today… If you bought on wedge support around the 106.30 area, i suggest you have a stop at 106.80ish.
12:24pm
Sorry i’ll be busy for most of the day, but if you want me to look at some stock let me know and i’ll try to put it up. BIDU for example, is shooting up, but now with bad earnings it’s definetly a short once it hits 395 ish.
1:11am
Video for tomorrow:
Today we look at the SPX and how it’s about to hit the bottom of the wedge support where we expect o see some form of a bounce. The XLF already broke it’s respective wedge, so it looks more bearish. The S&P could fall to 1051 potentially and then bounce for a retest too, but I would rather think bullish tomorrow on a dip. We also look at the FAZ, USO, BIDU, AMZN plays here.
what is the oct. 6th high
October 27th, 2009 at 2:09 pm
Oct. 6th high
SPX – 1060.55
NAS – 2111.13
DOW – 9774.32
still long FAZ18.75, short FAS 87.5
max profits, no signal to sell yet.
October 27th, 2009 at 2:11 pm
any opinions on VISA after hours? H and S on the 30 and 60 min
I have a feeling a rally is imminent into EOD. I don’t know when it starts, but I want to double hedge my short now.
October 27th, 2009 at 2:23 pm
fritz, do you think the 1050-1060 area will hold and we could see 1120 sometime on the spy
I just added to my TZA, have a feeling a big sell off comes in the next hour.
so many feelings
Curse you dip buyers!!!
October 27th, 2009 at 2:33 pm
morris i will ask you even though you dont do t/a too much do you see 1120 in the cards in the next month or two
October 27th, 2009 at 2:37 pm
I don’t see it happening anytime soon and am positioned accordingly.
added sco at 12.98, stops at 12.84
———— 1068 ————- THIS looks to be our new KEY LEVEL
October 27th, 2009 at 2:55 pm
SHLD … ha ha… gunning for that $72 level …. another bad trade for me? getting out with a small loss instead of waiting for the closing price.
October 27th, 2009 at 3:18 pm
Richard I see a H&S on this = 10 min chart … …. wait …
October 27th, 2009 at 3:33 pm
Anjali, i went long the stock just under $72 and then got out at $71.50
covered qid and ssg i count 5 waves down.
October 27th, 2009 at 3:10 pm
i mean sold qid and ssg
can anyone tell if the fib number is holding on the 60 min. that woo was looking for. the blue line
I see a larg volume of QQQQ Nov puts strike 43.00 that are being traded. Does anybody how I should interpret this? Should this be a sign of near term bullish or bearish for QQQQ?
I believe we had a wave iv triangle this afternoon and completed 5 waves down for leg C of the A-B-C corrective off 1101 high. I’m lookinig for an X-wave move to about 1080 if there is to be a second A-B-C corrective down to the H&S target of 1047. If not, we could see new SP-500 highs later this week.
My new TA Blog: http://pugridironsma.blogspot.com/
October 27th, 2009 at 3:29 pm
If your right, I will be in the front of the line.
October 27th, 2009 at 3:36 pm
cool charts, from your bearish charts they look so clear, i am thinking of getting out of my put positions here and waiting for 1120 in a few weeks.
——- IBOC ——- barely trading under a falling 20ma ………… patience wearing thin
Anyone here following MON??? It has a completed multi-month H&S pattern today. High vol on the Jan $65 puts. Opinions????
October 27th, 2009 at 4:06 pm
OK. I buy.
WOO
are you holding anything into tomorrow
idan, are we below the wedge right now.
October 27th, 2009 at 7:00 pm
Nope we closed right above it.
Dear oil,
Please break down tomorrow.
Your friend,
morris
October 27th, 2009 at 3:58 pm
haha, i hope it does too.
October 27th, 2009 at 3:59 pm
he is a good guy, so oil listen to him
October 27th, 2009 at 4:49 pm
Dear Oil;
Do NOT listen to the bears! You are a rare and finite comodity and the world is dependent on you! You are worth $140+ a barrel
You long friend
JON
with that close would it be smart to get out of put positions with a gap down tomorrow.
Mid caps fixing to close near LOD. I am heavily short the mid cap russels from this morning. My entire portfolio including IRA is up about 3% today and I intend to hold short for several weeks. Roughly 20% of my losses from shorting and covering the market since june are recovered in one day. The broad market is weak, so I will continue to sell it.
October 27th, 2009 at 4:07 pm
Almost identical numbers for me my friend. I’m with you 100%. I see at least another 8% pullback coming.
Visa just took a dive.
October 27th, 2009 at 4:12 pm
but the spy is up?
October 27th, 2009 at 4:18 pm
Visa reported a profit that topped last year’s earnings and outstripped Wall Street’s forecasts, but the company’s shares dropped more than 4 percent in late trading Tuesday. – Yahoo Finance
Buy on Rumor Sell on News Setup here.
I think if tomorrow we gap below the wedge, then it would be late to go short at that time, beacuse I guess this could be a fake break out and then after one or 2 days we may get back above the support. I like to see a fake break down just the same that happened to USO and oil.
October 27th, 2009 at 5:23 pm
i think the reverse….support holds, goes up slightly as dip buyers believe it works time and time again, and then pros come and sell it later to bring it to a doji. THen it rests on Thur’s GDP
——— 1068 ———- failed it over and over.. hmmmmmm. im unhedged short with very few positions. now that i have little exposed im certain it tanks
Thanks for the AMZN call, I waiting until it was up to 125 and sold 125 Nov calls.
Am short HOG, a worthless pig that will float down to 21, nothing on horizon to change that one. Above 28 was the place to short it.
Short JCG– retailer that gapped up. A very good place to short still. Earnings come Nov 27th, so it’ll fade into that date.
Short PCX– anyone else short this high-flyer coal bemouth when it was up 25% today after lackluster earnings.
DTG & CAR– getting their due now.
Last friday, I spent the day writing vertical options, should have just sold the calls and bought the calls here lower, but will try and time it by selling the shorts down below and then selling the longs on the bounce.
I think we are headed to fill the gap. 1040ish on the SPX. We might get a doji and a lower low before then, which would be a bummer, because if we just go down to there now, it’d be one hell of a bounce.
I am looking at XLF and I do not see any bullish point in that chart. I was wondering if I am missing anything beacuse the after market of XLF is up?
October 27th, 2009 at 7:13 pm
Visa earnings?
October 27th, 2009 at 8:05 pm
thoughts on AMZN??? have some nov and dec puts..will it come down like AAPL after earnings and fill its gap??
thoughts
October 27th, 2009 at 9:26 pm
Until we see a new low printed on AMZN I would just play the fibs from Tuesday low to Monday’s high. That is a helluva gap for now. Still holding 100 puts myself..front month. This thing could still run in my honest opinion, but at least the targets are becoming more clear.
Based on the numbers I am seeing on my charts, I am leaning towards a re-test of 1072 – 1076. If Nasdaq does confirm a two daily candlestick break of its long term support, I will be holding my QID calls. The SPX has not shown me a breach of long term support yet, so I’m not going to get too bearish on the market now.
I am positioned for a gap open tomorrow. If it gaps down I’ll likely dump most of my shorts and double down on my long hedges as long as SPX stays above 1050 and DOW stays above 9750. My DOW weekly chart still shows a small possibility that DOW 10250 could be reached before year end, so I’m not going to ignore that (we’ve all seen how the bears ignored DOW 8100 support in July, and ignored DOW 9250 in September, and again ignored DOW 9430 in early October; this is not the time to ignore DOW 9750 unless it is broken convincingly).
If however the market gaps up, I will dump half of my long hedges and re-load them on the gap fill. In simple words, I don’t care about the direction going into tomorrow.
Don’t know Fritz 1070 was awefully tough today
Shorted coco last week. Lookit COCO FALL in a/h.
Guess no one wants to pay millions of dollars to go to a for profit community college to train
for a job that may never exist?