I_Am_Madness Posted February 2, 2012 Report Share Posted February 2, 2012 Got short ES yesterday at 1318.75. No change. I don't anticipate the 1330 highs to get taken out on ES. If it does, then i'm outie. Link to comment Share on other sites More sharing options...
I_Am_Madness Posted February 2, 2012 Report Share Posted February 2, 2012 And in regards to the golden cross. Bull markets can't happen without one, so as much as you think it's irrelevant it has it's place in the bigger scheme of things. The last 2 golden cross have been very profitable with a 11 month duration before reacting a top. Link to comment Share on other sites More sharing options...
No Einstein Posted February 2, 2012 Report Share Posted February 2, 2012 yellow dog finger ??? Link to comment Share on other sites More sharing options...
No Einstein Posted February 2, 2012 Report Share Posted February 2, 2012 tlt, prepare for liftoff..? long here does benny want a correction in the market to drive down those rates? Link to comment Share on other sites More sharing options...
No Einstein Posted February 2, 2012 Report Share Posted February 2, 2012 as gameover says... don't miss the train...it be leaving the station today...but its going south... Link to comment Share on other sites More sharing options...
No Einstein Posted February 2, 2012 Report Share Posted February 2, 2012 here is some interesting ( but probably useless info) the qqq is at 61.21 as I type, the high today was 61.41 on 10/27/1999 the qqq high was 61.62, it closed at 61.40 0n 10/28/1999 the qqq low was 61.81 that gap started the blow off top on the q's... they doubled in 5 months. that gap was closed on 11/29/00 looks like some resistance starts at around 61.44 on some testing of that price from 11/30/00 to 2/6/01. after it gave way on 2/7/01.. it was all down... till 10/9/02 so here we are, about 10 years from the bottom.. is that enough time to repair.. can we push through on the 1st try ................................................ that 61.40 ish number on the qqq looking to be a bit more important Link to comment Share on other sites More sharing options...
psyche doctor Posted February 2, 2012 Report Share Posted February 2, 2012 cracks starting to appear in the almighty crapple. 452-453 just a smidgeon below might offer some clues here in the short term. This POS is still over 70 points above its 200SMA, an historically extreme reading. Link to comment Share on other sites More sharing options...
I_Am_Madness Posted February 2, 2012 Report Share Posted February 2, 2012 ................................................ that 61.40 ish number on the qqq looking to be a bit more important Not only the QQQ. Russell also hitting some big resistance. Same with the Yellow Metal. This market needs to take a breather. I was anticipating a move down to the 1290 on ES and we got it on Monday. I anticipate the 1290 area to get tested again next week. Trade safe. Be nice to the bulls, we need them as much as they need the bears. Link to comment Share on other sites More sharing options...
psyche doctor Posted February 2, 2012 Report Share Posted February 2, 2012 Not only the QQQ. Russell also hitting some big resistance. Same with the Yellow Metal. This market needs to take a breather. I was anticipating a move down to the 1290 on ES and we got it on Monday. I anticipate the 1290 area to get tested again next week. Trade safe. Be nice to the bulls, we need them as much as they need the bears. You got stuff like crapple (heavy weighting in the NDX) extremely strectched. Like you said, Gold vibrating strong resistance and a host of other stuff. Even though crude has kind of been influenced by geopolitical issues, it has failed to take out the 100 level and has been selling off a little recently. It might be time for this entire POS market to take a breather. Link to comment Share on other sites More sharing options...
No Einstein Posted February 2, 2012 Report Share Posted February 2, 2012 Not only the QQQ. Russell also hitting some big resistance. Same with the Yellow Metal. This market needs to take a breather. I was anticipating a move down to the 1290 on ES and we got it on Monday. I anticipate the 1290 area to get tested again next week. Trade safe. Be nice to the bulls, we need them as much as they need the bears. not greedy... just keep it here ( or a bit lower ) for the rest of the day no stick-save... please Link to comment Share on other sites More sharing options...
Trader Joe Posted February 2, 2012 Report Share Posted February 2, 2012 Continuing with my theme of Floating Rate Notes (FRN) from Treasury... An article from Financial Sense- http://www.financialsense.com/contributors/neeraj-chaudhary/2011/10/26/beware-of-floating-rates I liked the article but I must point out that the author has neglected to mention Japan, which offers FRNs but has not suffered from hyper inflation. But then he is affiliated to Peter Schiff's Euro Pacific Capital. Thanks for the post... ...but that guy is a hapless insufferable hair-on-fire dickwad douche "send a chill" Give me a break Newsflash -- as long as the Fed can print money in 0's and 1's via the bankster-treasury-Fed circle jerk, interest rates ain't goin' nowhere Unless "the Them" want them to...."They" are the market And as long as the Fed ends up with the FRN's, the interest paid is moot as it just goes back to Treasury Ugh! If anything, FRN's offer more slop in the bid-ask and thus more P/L for the banksters as they churn this inventory over and over and over again -- amongst themselves....via repo...etc etc etc The whole expansion of the US balance sheet (in conjunction with the crucifixion of savers via low rates) is just another means of recapping the banks via the spread they collect on churning this garbage day in, day out As Letterman used to say -- they'll make it up in volume Link to comment Share on other sites More sharing options...
Lugnut Posted February 2, 2012 Report Share Posted February 2, 2012 $WTIC is at the bottom of its channel on the 4 hour chart. Took a small futures long position expecting a move back to vwap. Will hold the off shore producer shorts for a while as they are the highest cost producers and many are burdened with having to sell natural gas out of the same holes, which used to be profitable. BTW - the longs have been hitting the cover off of the ball. Kudos to gameover along with the elite guys I have mentioned before. I can't do what you guys do (yet) but I am makin' a bit o' money doing my thing so that is all that matters. Link to comment Share on other sites More sharing options...
Lugnut Posted February 2, 2012 Report Share Posted February 2, 2012 BTW - I still expect sideways on the major indexes with maybe a fade. Different sectors will lead down and then bring down the broads but that may be weeks away. Energy goes first from my guestimations which is why I am there. I like the short side of the trade because it moves faster. That makes me a biased trader so caveats all around. fade Lugnut and all that. Link to comment Share on other sites More sharing options...
psyche doctor Posted February 2, 2012 Report Share Posted February 2, 2012 $WTIC is at the bottom of its channel on the 4 hour chart. Took a small futures long position expecting a move back to vwap. Will hold the off shore producer shorts for a while as they are the highest cost producers and many are burdened with having to sell natural gas out of the same holes, which used to be profitable. BTW - the longs have been hitting the cover off of the ball. Kudos to gameover along with the elite guys I have mentioned before. I can't do what you guys do (yet) but I am makin' a bit o' money doing my thing so that is all that matters. Crude getting in that area where longs should be entered. That 95 area should provide sufficient support for a decent trade. I have some fib projections that are also pointing to that area. Trading crude is my main focus, but I haven't been able to look at it that much lately due to some constraints. Trading that beast requires one to be fully focused. Link to comment Share on other sites More sharing options...
Trader Joe Posted February 2, 2012 Report Share Posted February 2, 2012 F my life ___________ "In 2005, Mr. Choe was invited to paint murals on the walls of Facebook’s first offices in Palo Alto, Calif., by Sean Parker, then Facebook’s president. As pay, Mr. Parker offered Mr. Choe a choice between cash in the “thousands of dollars,” according to several people who know Mr. Choe, or stock then worth about the same. Mr. Choe, who has said that at the time that he thought the idea of Facebook was “ridiculous and pointless,” nevertheless chose the stock. The graffiti artist who took Facebook stock instead of cash for painting the walls of the social network’s first headquarters made a smart bet. The shares owned by the artist, David Choe, are expected to be worth upward of $200 million when Facebook stock trades publicly later this year." http://finance.yahoo.com/news/founders-decorators-facebook-riches-141805119.html Link to comment Share on other sites More sharing options...
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