The GDP report is out, and once month-end mark-up is over, will investors want to lighten up a bit before next Friday’s jobs report? The last NFP report crashed the market on July 2nd.
The GDP report is out, and once month-end mark-up is over, will investors want to lighten up a bit before next Friday’s jobs report? The last NFP report crashed the market on July 2nd.
I’d like the market to go much higher, like getting a monthly buy for a few months before turning.
SPX pivots for friday
R3 1017.81
R2 1007.24
R1 997.14
P 986.57
S1 976.47
S2 965.9
S3 955.79
currently at 985.93 — below pivot point of 986.57 so we’ll see the fate
chicago pmi higher than forecasted… surprise surprise?
Crazy spikey mojos going on. Not sure what’s up with that.
SPY busting through 5min resistance.
TO THE MOON! Yeah, right.
Man, SKF chart looks terrible – spike city.
after,
i’d be glad to take that spy 92 put out of your hands for 0.29
Leftover dip buyers from yesterday.
Through all the doom and gloom, SKF has held its 15min buy. Wow, indicators ROCK!
dax just went into freefall
What crisis? Defeatist statements from a prime dealer:
“Ackermann Says Bad Loans Are ‘Next Wave’ of Crisis ”
http://www.bloomberg.com/apps/news?pid=20601087&sid=atcx4jWOzKtU
Crisis,
Still, there a lots of buyers right now being lured in by the smarties, and at some point, they’ll lower the hammer with another profit-taking spree.
I mean, looking at how far the market has dropped, it can only go up for the next couple of years, right? Being facetious here.
George Says:
July 31st, 2009 at 9:45 am
Crazy spikey mojos going on. Not sure what’s up with that.
Digits George. Digits. Lots of digits.
SKF consolidated its way up to the 36ma on the 15min. Could get a cross soon 9/36/15. It will have a battle with the buyers still out in force.
The only thing that will cause a MOAR at this point is a collective epiphany by the masses. Technical moves can be “called”, epiphany’s cannot.
Larry,
I am just getting over digititis. I sure don’t need another case of that.
George, as soon as the Goldman appears the confused masses get converted in moar frenzy also known as epiphany “we will never short again”…
eurusd just up >1ct. Should help stocks
Short or Long you can enjoy some of this ((:toes in the water ass in the sand:):)
http://www.youtube.com/watch?v=b9A9TvZSE9E
Here’s the video:
http://www.youtube.com/watch?v=lB8Nkn3Xjes&feature=related
have to leave for the weekend – which relieves me from thinking whether to short the month-end tape painting job or not. GL to all
I was trying to find that story I saw in the wee hours on Google. It was about a bank that spent 30mil or so on bonuses. That was more than their profits for a year. They also received TARP monies!
I wanna job at that bank.
Yerk,
Have a good’in. Chosing a side of the market here is a tough call.
I finally got my basket green!
Yerk:
Have a good one!
Mitch,
How many green eggs do you have in the basket, and are they all short ones?
George:
I’m 30% short (went there yesterday mid-morning when you said “can you say inverse?” Remaining 70% gold and sugar.
Nice basket management, no pork bellies?
SPY 15min MACD trendlines hitting the zero line. Always a good place to take a bounce. Worth watching anyway. Some volatility will arise here.
Tops all around on the inverse. They could pull back.
George:
I was caught between set-ups and was forced to chase or play the short side -I went short and commodities. I am not satisfied with riding the dollar down but I just wanted in one way or the other.
Mitch,
Yes, sometimes hard to decide where and when to get in when the train has left the station. Most of that depends upon the timeframe being traded. At my intraday level it’s no problem, on higher levels it could be.
I’ve jumped in on a trend before without waiting on a pullback and if a stop is used, that’s okay.
SPY is trying to bunce off that 15min MACD but it has 36MA resistance tight above. Will watch 1&5min to see if it can punch through. OR, this may be a good place to add to shorts if it fails.
SKF needs to hold support on its 15min 36ma or it is a doomed duck. Hasn’t given a sell signal yet. Hangin’ in and on.
QUACK! HONK!
I have a feeling we’re getting close. 0-4 weeks. Shanghai first.
The boom can last only as long as the credit expansion progresses at an ever-accelerated pace. The boom comes to an end as soon as additional quantities of fiduciary media are no longer thrown upon the loan market.
Ludwig von Mises
Mitch, if your basket is green, maybe you better see a doctor? just sayin….
Ha Drano! You know, I’ve never shorted anything until last Friday? Sure, causes a different perspective!
Yeah, if a short goes wrong, you’ll be looking at things from a VERY different angle… trust the voice of experience…
Careful here, tops and trendline endings on underlying.
George:
What’s going on here?
Larry,
I never thought I’d be in agreement with von Mises. Those austrian metaphysicians, pardon my french, seem so quaint sometimes… Shanghai first is now my official motto!! I started my FXP position yesterday, and I’m going to spend some time thinking about other options for shorting china… Metals, I guess, are an obvious play.
Mitch,
I didn’t see your post till now. SPY was gyrating between a narrowing channel line on the 15min, within a larger channel. It tried to break up, failed, tried to break down, failed several times.
K, i’m keeping my spy puts all to myself, at least for the weekend !!!
best wishes…
Marty, be patient. They dance till the music stops.
After,
I’ll keep my 96 sept puts too. and who could forget my vix 27.5 august calls?
do you guys think i should keep posting woodies pivots on futures and spx ?
have a great weekend
heh my TOS strategy would have bought me gold at 9:35am at 92.01 and sold it at 3pm at 93.63. $161 gain wouldn’t have been bad. gotta figure out how to automate this crap
K:
>>>my TOS strategy would have bought me gold . . .
Great!
We finished 1 point off pivot today. I, personally, like the pivot posts.
i used to use them about a year ago then experimented with different things and now regained a modified version of the regular pivots out there called woodie’s pivots (he also has a CCI)
made a great entry few days ago on USD/JPY entering just at the S2 pivot and riding it up
not much change but great play.
I will keep going then
volatility moved up a whole freekin point today from its lows at 2pm. that’s almost 5%
I cannot wait for it to move up another 15%
also I updated my current picks page but there weren’t any new signals. I have just cut back down the number of symbols that I will publish signals for. of course MattGic board can ask me for the latest signal on a symbol of choice and I will do my best to get back to you
sorry but I think the way the system is moving I’d rather spend more time fine tuning and developing a presentation for it