Wednesday’s Trading – 12/9/09

Cringely thinks that Intel (INTC) will be buying nVIDIA (NVDA). Story here.

108 Responses to “Wednesday’s Trading – 12/9/09”

  1. George says:

    The BBs on the daily are pinching nicely. Big break coming to a screen near you.

  2. 'K says:

    After. If my 0.80 trade goes through its 20/month investment.
    I see this being 4 scratch tickets a month. If market crashes in next few months dollar will strengthen and at least 24 I see by june. Not saying I’m waiting that far but dec is out. I don’t want to play january yet. 80 is very cheap for a 6 month in advance option (yeah I know time decay kills)

  3. George says:

    Checking the news, here’s an interesting headline from CBS concerning our national security:

    http://tinyurl.com/ygteg7f

    “He can’t even run his own life, I’ll be damned if he’ll run mine.”
    [Jonathan Edwards, "Sunshine", from Jonathan Edwards (1971)]

  4. Mitch says:

    This is getting interesting . . . on many economic levels.

  5. George says:

    OOOk, Scottrade running behind, FYI.

  6. Mitch says:

    phil, there’s a lot to sort out – could get bumpy.

  7. George says:

    “Geithner: Bailout Extended Until October” (Source: CNBC-RT)

  8. Mitch says:

    >>>> “Geithner: Bailout Extended Until October” (Source: CNBC-RT)

    That’s not a bazooka – - it’s a revolver.

  9. George says:

    Here’s the link to the Geithner story:

    http://tinyurl.com/yzgbaph

  10. George says:

    Mitch,

    You got that right.

  11. George says:

    That Geithner decision is a Market Maker… so to speak.

  12. phil says:

    GEORGE …..STILL did not break 11/27 lows …i want to see break before i buy more

  13. Mitch says:

    Wholesale Inventories Rise Unexpectedly in October (story developing)
    CNBC

    Weak dollar brings us more inventory and more imports. Beam up Scotty.

  14. George says:

    Wholesale Inventories Rise Unexpectedly in October:

    http://tinyurl.com/yf95tgn

  15. George says:

    Mitch,

    Sorry, I didn’t see your post. :)

  16. George says:

    Phil,

    $1060.62 – if it reverses there, would be a higher high, too.

  17. George says:

    Matt’s Falling Wedge Pattern may play out sooner than expected.

  18. Mitch says:

    CNBC writers reported that inventory number as a positive – saying it shows less draw down on existing inventory. It must not be lack of consumer demand and therefore stockpiles (piles of stock). Lol

    phil, days like this I find news important because all the “moles” come up to the surface for better sense when things are shifting beneath them.

  19. phil says:

    MITCH…..i havent turned on the sound on CNBC this week yet and only looked at the tv if they seem to be going wild over something

  20. phil says:

    george…even if the rectangle is fulfilled ..we go to 1050s…as long as 1029 holds we go higher still….1029 break means i am wrong

  21. phil says:

    george..they may have turned it up already….a mid week …midday reversal can be powerful

  22. phil says:

    GEORGE……is that rocket fuel i smell????????????????

  23. George says:

    Phil,

    I hope it is… I got the buy signal yesterday and left a handful of shares in SSO.

  24. George says:

    THen I backed up the truck this AM when the 15min SSO got some Luv. BBT, ICE, all bouncing.

  25. phil says:

    GEORGE..i am going to sell 1/2 @ 1101….if it keeps going i will add later but i NEED to see UPWARD ACCELERATION soon

  26. phil says:

    ACCELERATION thru 1098 should ignite MAIN rocket engines

  27. Mitch says:

    Phil,

    Well, it is a clear day at C. Can. no?

  28. phil says:

    MITCH…?

  29. phil says:

    mitch…launch rocket from clearly canadian?

  30. George says:

    SPY went down and touched its daily 36MA then bounced up. I don’t see that gap above on SPY but it is on SSO. I’ll go with SPY.

    SPY up against its 15min 36MA. Can you guess where I exited?

  31. phil says:

    K…did you sell your dollar call option when dollar index went outside daily bb yesterday?

  32. George says:

    I’ll reenter on a legit 1min upturn because 15min looking kinda good but that could change in a skinny minute.

  33. phil says:

    UUP did not make it to bb…..its weaker than dec dollar future

  34. Mitch says:

    Phil, no, clearly canadian is clearly not going to do it, why with their main input (other than water) being sugar (we know what happened there) they won’t get off the ground.

    Cape Canaveral.

  35. phil says:

    above 1095.33 spx gives 5 waves up from todays low

  36. phil says:

    MITCH….it is a BEAUTIFUL day in south florida…windows open and breezy

  37. George says:

    Mitch,

    Get that inverter ready!

  38. George says:

    SPY is at a point where it could move on the 1min.

    SKF stopped right at its 15min 36MA support and making a labored effort to turn up.

  39. George says:

    The Geithner Christmas present didn’t last long. Maybe it’s being unwrapped to see what’s in the box (not associated with the Box of Beer).

  40. 'K says:

    Commodity driven rally.
    Crude inventories are negative.

    Wholesale inventories are positive m/m which is bad for retailers. Looks like 90% sales are coming. Forget 50-75% off :)

  41. Mitch says:

    Phil, that’s a nice website. I have it on the ready now.

    George,

    I just plugged my solar panel into the inverter – for fun. A couple more panels and I’ll have something. I can trickle power to the battery for recharge though – AND there’s always the battery in the car too.

  42. George says:

    Mitch,

    What a great idea… plugging the panels into the inverter. Those homes in D.C. had the same thing – an inverter for the DC current coming out of the panels to feed the main circuit.

  43. 'K says:

    George,
    Look at DZZ again lol. 13 to 13.40 in an hour. 40 cents for you to scalp, just sayin…

  44. Mitch says:

    Spike this AM with a slow dive . . . . Distribution?

    Obama to speak in a minute.

  45. George says:

    K,

    I’m ahead of the game on DZZ… MOOOooo! :)

  46. 'K says:

    Love it!! I’m up nearly 2 bucks a pop since last thursday afternoon’s purchase

  47. Mitch says:

    K, that’s awesome! George you too!

  48. Mitch says:

    K, it may be early or late but how about working some currency pairs? I have one in mind if gold stays here or lower.

  49. phil says:

    K…..i want to dump DZZ when GLD gets near 108 ie MAX PAIN

  50. 'K says:

    Mitch,
    I tried shorting eur/usd at 1.5049 but since they changed margins from 100:1 to 25:1 I had insufficient funds. Woulda had 600+ by now :(

  51. phil says:

    GEORGE …if we spike to 108 GLD ..i want to reverse from DZZ to DGP…(double long gold )

  52. George says:

    Mitch, Thanks

    SPY seems to be leveling off and SKF has bars that can’t go above $25.38. Something’s brewing.

  53. phil says:

    george..i have 2000 DZZ..i want to sell only half and reverse to DGP to go flat

  54. George says:

    Tops/bottoms intraday.

  55. George says:

    Phil,

    Wierd stuff here… shakeout at OK corral…

  56. K says:

    Apple will start production of a 10.1″ LCD screened tablet in February, says Yair Reiner of Oppenheimer, in a note released this morning (via Apple Insider.)

    http://www.businessinsider.com/apple-tablet-coming-in-march-aims-to-blow-up-amazon-analyst-2009-12

  57. K says:

    Phil. on DZZ 13.24 is support/ even if it goes to 12.75 is still a good buy. until it breaks below that I’ll be fine.

  58. K says:

    here comes the 3pm pump extra early so it can dump before close

  59. George says:

    Lost my Internet for the past hour.

  60. Jim says:

    If we breakout above 1098, owning DZZ will not be good.

  61. phil says:

    SOLD SCHX for a small profit….i think these rallies are corrective

  62. phil says:

    K….thanks for the PUMP….i took my DUMP

  63. phil says:

    GEORGE..with max pain SPY @105 will they let it stay near 110?

  64. George says:

    phil,

    I think so because there is the SPY intraday overhead gap resistance that needs to be filled.

  65. George says:

    That SPY gap is at $110.50.

  66. phil says:

    JIM… i am taking profits on 1/2 my DZZ before the close…hoping for gold dump into 4pm

  67. phil says:

    if 110.19 holds on GLD i am GONE

  68. George says:

    I had just bought SSO at $36.40 and hit the send key when the Internet went out. No stop, no iPhone backup (ATT lousy service at home), and no sell order.

    Turns out to be a blessing. When it came back on I sold at $36.96. Now I’m nibbling on SRS.

  69. George says:

    WOW, SRS is blazin’!

  70. K says:

    :D
    nice George.
    sumthin is up

  71. phil says:

    DZZ……hasta la vista

  72. phil says:

    DEC dollar future fizzling…..overlap of 75.70..could send it to new lows

  73. George says:

    K,

    Looks like you cut DZZ close.

    There’s a candlestick seminar tonight “Candlestick Charting with Steve Nison presented by TycoonU.com Wednesday, December 9, 2009 8:30 PM – 9:30 PM EST”.

    I’ll be online to see what’s up.

  74. K says:

    Steve Nison!!! ? i’ll look into it if its free im in!

  75. K says:

    ok signed up :D
    I hope you signed up too. Love steve nison

  76. K says:

    http://1.bp.blogspot.com/_rufrpeKdZ38/Sx_xearC-PI/AAAAAAAAF3I/h-6Z9P4kPOs/s1600-h/spx.png

    you can only test a trendline a few times before it weakens and breaks

  77. 2thfixr says:

    George, still using the UUP chart of mine? My GLD chart is money as well. I too bought SSO at $36.40, and are holding for H&S targt of 1106, rectangle top at 1110+, or megaphone top at 1120+. Rally for a week baby, and then drop like a stone to Phil’s MAX PAIN point of 1050! If UUP rallies above $23 by the 18th, we’ll get there! Phil, what is MAX PAIN on UUP options? Thanks.

  78. 2thfixr says:

    Sorry I can’t join the Steve Nison group. He’s the master!

  79. K says:

    some funny stuff..
    http://www.ritholtz.com/blog/2009/12/stephen-colbert-feds-dead/

    (for a bonus read the 1st and 3rd comment on there as well HAHAHAH)

  80. Mitch says:

    K,

    I don’t think “the bar” over there at BR suffer each other very well.

    2thfixr,

    Can you help a brutha out and throw me a bone with a chart that doesn’t require flash or silverlight? Hey, my buddy owns a pizza shop and he gets like a 1% conversion on direct mail and is pleased. I go in there and talk business with him (and lend a hand for fun) – he controls costs so well but still gets awesome veggies. Just sayin.

  81. George says:

    2thfixr,

    I sold my SSO. Scalper mentality. Yes, I’m still using your chart. I take anything that’s free. :)

  82. George says:

    Mitch,

    I’m gonna throw you a bone… here’s a chart that doesn’t require Flash or Silverlight.

    http://tinyurl.com/y4vxks

  83. K says:

    George,
    you are hilarious today! its usually me in that role haha

  84. 2thfixr says:

    Sorry Mitch, I don’t have any other charting software other than the ones I post.

    How about this: a weekly UUP chart will break the Wave 3 channel this week above $22.91, the week ending 12/18 at $22.82, 12/24 at $22.73, and end of the year at $22.64. Continue said slope of knocking 9 cents off the price each week. If you see UUP above those levels, then wave 3 is officially over and wave 4 has begun. When wave 4 reverses, and wave 5 starts, look at the $USD chart for a final wave 5 low/test of the $70.70 low from a few years ago or UUP below $22, but not sure by how much since it is such a new instrument. Hope that helps!

    UUP Fibs for a retrace are located at $22.87, $23.19, $23.50 and the “point of recognition” of the wave 3 down was at $24.50. Wave 1 and Wave 2 were 2 months and 3 months in duration. Wave 3 is in its 39th week, with 1 or 2 of those weeks possibly switching to being the start of wave 4 (Dec 4th reversal in the dollar).

  85. 2thfixr says:

    worth what you pay for it George…..be careful! :-)

  86. 2thfixr says:

    I’ve got a loose stop on my SSO, but will tighten it up once it has decent profits and we get out of the bottom of this rectangle. I’ll probably scale out at those points I mentioned above: 1106, 1110/1119, and megaphone channel top (TBD). That would be a great trade. I’m still looking at Phil’s MAX PAIN idea to bring us back to 1050 and make coin on the way back after hitting those marks as well! :-)

  87. K says:

    Ready for steve nison George?

  88. K says:

    TED MACD turned positive

  89. George says:

    Yes, listening now, k.

  90. George says:

    Ron is taking up too much time… put Steve on!

  91. K says:

    agreed.. here comes steve

  92. Mitch says:

    George,

    Thanks. Next time T-bone please.

  93. K says:

    Awwww he’s stuffed up . :( this isnt fun!

  94. K says:

    wow nison is doing a mega sale! i think $500-$1000 LOL

  95. George says:

    Mitch, LOL, T-Bone! :)

  96. George says:

    Hope I don’t catch Steve’s flu.