Scully Posted May 24, 2011 Report Posted May 24, 2011 Some rather large one-minute bars mid-day today in certain stocks which did not show up in the general indexes. Black box algorithms gone crazy?
Trader Joe Posted May 24, 2011 Report Posted May 24, 2011 Not doing much at this juncture... ...sitting on hands Although I did sell some PNSN $2.50 Oct puts over the past few sessions
Jimi Posted May 24, 2011 Report Posted May 24, 2011 Heh Scully, I hate Wells Fargo and wish them nothing by liquidation. Are you familiar with the mumblings about the mortgage pool it acquired with Golden West? Might be worth further investigation as a motivated short-seller thereof: http://healdsburgbubble.blogspot.com/2009/05/reset-chart-from-credit-suisse-has.html
Scully Posted May 24, 2011 Author Report Posted May 24, 2011 Heh Scully, I hate Wells Fargo and wish them nothing by liquidation. Are you familiar with the mumblings about the mortgage pool it acquired with Golden West? Might be worth further investigation as a motivated short-seller thereof: http://healdsburgbubble.blogspot.com/2009/05/reset-chart-from-credit-suisse-has.html Thanks for the link, an excellent bit of research there. I had always taken the Credit Suisse chart as gospel, and was completely unaware of negative amortization mortgages. The closer you look, the uglier the mortage mess turns out to be.
Trader Joe Posted May 24, 2011 Report Posted May 24, 2011 Uncle Scam rushing faster than a raping IMF President out of a hotel to Eye Pee You AIG
Grand Poopercycle Posted May 24, 2011 Report Posted May 24, 2011 Not doing much at this juncture... ...sitting on hands Although I did sell some PNSN $2.50 Oct puts over the past few sessions Make sure you wash those hands before you come to the dinner table!
I_Am_Madness Posted May 24, 2011 Report Posted May 24, 2011 I'm hearing and seeing all these folks buying this BB crash trade. S&P as of today... Yes, i understand BB crash trade. I hear and read about the high probability long trade when one triggers, but exactly the same time last year we saw same the same thing...
I_Am_Madness Posted May 24, 2011 Report Posted May 24, 2011 Same BB crash trade call last year. S&P closed below the 50 dma and below BB for 2 straight days...and QE ending..
Bungster Posted May 24, 2011 Report Posted May 24, 2011 I hope I didn't trigger that comment I did step aside yesterday when we finished outside the BB. But in this strong downdraft I would not be going long - merely stepping aside....
I_Am_Madness Posted May 24, 2011 Report Posted May 24, 2011 You want BB crash!!!! How bout a flash crash!!! MUHAHAHAHAHAHAHA!!! To all stools out there..trade safe.
I_Am_Madness Posted May 24, 2011 Report Posted May 24, 2011 I hope I didn't trigger that comment I did step aside yesterday when we finished outside the BB. But in this strong downdraft I would not be going long - merely stepping aside.... I'm sure it's going to be different this time...right?
Bungster Posted May 24, 2011 Report Posted May 24, 2011 I'm sure it's going to be different this time...right? Thanks for keeping us honest - Madness...
I_Am_Madness Posted May 24, 2011 Report Posted May 24, 2011 Thanks for keeping us honest - Madness... Wait for a close back above the band before you enter a long position. Just food for thoughts...
BreakOut Posted May 24, 2011 Report Posted May 24, 2011 The part I don't get about oil....the powers that be want stocks up and inflation to turn down. Margin requirements are being raised for oil and crack margins. Yet government mouth-pieces (GS, JPM) are talking UP the price of oil, almost encouraging speculators to bid it up.
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