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nevermind
we got lift off,,,
very true,,,fighting it doesnt seem to get me anywhere
Percentage wise DRV had a strong move from 17s to 20s on a very modest market pullback. A bigger is coming soon, but just have to respect the money flow...
doesnt look like it is gaining ANY strength does it,,,i will also close any posistions befor putting any losses on the books something is telling me to hold tight but i can always reload on the dips but it just doesnt feel like we are gonna retract like i first anticipated,,,
Yeah, not what I wanted today... If the S&P doesn't break the 10 day this afternoon, I'll probably close my positions as it's looking like a minor pullback here. Market machine remains pretty bullish as the pullback is not looking like a strong one.
RMZ on the other hand did demostrate it's treading on thin ice. If we move up I like FAS, TYH and the Emerging markets 3x ETF.
should be interesting to see if support holds
I'm still locked and loaded.
We are at the first key support level right now with the markets, day 10 MA. If can cut through this then RMZ should break it's current support and move lower. Good luck brother.
Excellent, Wonder if she'll blow right through that next support level... I may sell half today myself as finally seeing some nice green here. Trouble appears to be building in the EU again:
http://finance.yahoo.com/news/Irelands-crisis-flares-as-apf-682007190.html?x=0&sec=topStories&pos=8&asset=&ccode=
Yeah, let's knock 'em dead...
jobless claims up 20K this week
40 cent swing in DRV pre-market,,,wow should be a fun day
looks like we are gaining some momo,,,lets gett'em buddy
Yes I did do a double down on Friday... You actually did a nice trade selling half as the RMZ did get close to that 740 area and bounced a little with the market. Selling half upon a good gain is a solid strategy...
Can't believe she blew through the 10 and 20 day like butter today as the market didn't move that much. Hoping for more of the same tomorrow from the markets!
its great to see some life back in DRV i can remember in the day we would get 2 and 3 dollar swings from her every couple days,,,even more than securing a little profit today it puts a great big smile on my face just to see double digit returns from her,,,i can remember you sayin you double down on your bear funds yesterday or friday right ??? hook'em and cook'em MTT
I'm to greedy for that, lol... Though when you get pretty excited about your account, might not be a bad idea to put in a trailing stop loss, maybe at 50% of your gain. This way if the run turns against you don't lose all of your profits (I've watch that happen to many times, lol.) But you won't lose your stock on a minor bounce. So if you bought at 10, and see a see 11, a 10% jump, put in a stop loss at 10.50. If the run continues, move up you stop loss proportionally so you enjoy the entire run fully. If there is a strong bounce agaisnt you and you lose you stock, ok then, reaccess and play again. I don't like using stop losses as I feel they stop you from keeping your stock to often, but at some point they might make sense as I describe above. PerfectStockAlert.com likes to do that. Like maybe tomorrow if we stall out at a support level...
thats funny that you said that bro,,,exactly what i did 30 seconds ago,,,thought to try and secure some profits anyway
Oh yeaaaah... May need to celebrate a little tonight. Market selloff is picking up steam too... See no reason to close out here, but since you are trading more than me, might want to take 1/2 off the table... I staying locked and loaded!
on fire,,,weeeeeeeeeeeeeeeee
Wow, haven't a day like this for DRV since the flash crash. Expecting more tomorrow, but didn't expect to blow through the 1st area of support so quickly. Tomorrow we should see the 2nd area of support for the REITs (RMZ) which is equal to DRV = 21.50. I don't plan to close out my ETFs until the S&P is done with this pullback.
Yup, we do seem to be in a good place here. This pullback in the market has barely started! The RMZ is up in la la land, lol...
man,, does look way over extended doesnt she ,,,if we could march her down to that 680 range we would golden,,,charts are lookin like our patients is about to pay off
Sure does. Thought I'd get back to the topic of this board (though I enjoy chatting here, lol), and look at RMZ. Even with a little selling in the market, she is selling off quite nicely:
We're already down to the first support level.
When you look at the weekly chart of RMZ, you see a lot of divergence between the price movement and the indicators. Plus that ascending wedge is also clearly seen as it is on the daily:
Could be getting a nice little pullback to the next support level of 740 if the market continues to pullback. Even a modest pullback to the 10 or 20 day on the S&P could fuel this:
For the RMZ, I see 710 and 680 as more severe pullback points...
building a little momo here,,,looks like she could pick up steam heading into the close,,,
Been checking out the material on perfect stock alert. I wouldn't say they are perfect, but some good stuff on there, especially the trading course videos. They also have this daily buy/sell signal. They are looking for more selling tommorow.
Maybe we'll get that nice little pullback we're looking for this week... If those supports get taken out, let it ride. We could get a significant pullback here. If if will be at some point. Markets never go straight down or straight up. But we have to do what the market tells you. Looking the the weekly chart to guide is a good idea. At some point you can be at the right of the money flow, and with leverage, it will feel mighty good!
world markets are taking a $hit,,,looking good for the bears in the AM,,,
mainstream media preching euro zone fears again,,,weeeeeeeee,,, maybe the catlyst needed to propel bears foward being as we have been extremly patient with the bulls and their so called rally,,,time to lock and load
ill keep an eye on those supports,,,conformation on a pullback would be nice,,, im going to quietly soak up some DRV over the next few weeks and patiently wait for a few 10% swings,,,ill look to double my FAZ posistion and possibly hedge it with a call option,,,im really starting to expect alot less from the market,,,get back to being happy with a couple hundred dollar profit checks and not so dissapointed when i dont knock it out of the park on every trade,,,thank you for all your support,,,im gonna keep my eye on the prize MTT,,,later bud
Ok, the pause more or less continues, but we did close down with a slight red candle in the S&P chart. Weekly RSI looks like it wants to downturn. Still looking for a decent little pullback here with my targets of my prior post.
At least seeing some red today so far... Here are some S&P 500 short term support levels I'm keeping an eye on:
1198 (daily 10 day MA)
1192 (weekly 200 day MA)
1187 (daily 20 day MA)
I don't think we'll go lower that these. But if we break 1187, then
1155 (61.8% Fibonocci pullback of current run on Daily Chart)
1168 (weekly 10 day MA)
1150 (daily 50 day MA)
1133 (50% Fibonocci pullback of current run on Daily Chart)
1125 (weekly 20 day MA = weekly 50 day MA)
1111 (38.2% Fibonocci pullback of current run on Daily Chart Chart)
Tried to put together some various stuff I've been looking at in my own charts and here is a weekly chart of the S&P 500
Looks to me we are still in our current uptrend channel and we busted through 200 day line in the process. This resistance I was looking at failed. It looks like we are right at another resistance point, an old support level, which we failed to break through at the flash crash. If the S&P doesn't fail again, a move higher to around 1280 is possible. The RSI is also relatively lower as compared to the last time we were here. A failure might prompt another significant move down. The MACD is significantly lower also.
Looking at the daily chart
We've busted above our current channel. All the indicators are off the charts. Maybe we'll see some profit taking here. Or maybe we move even higher. There was an inverse head and shoulders that John Murphy pointed out as a bullish indicator, which I didn't respect... He says the ultimate move up above the old resistance could be the hieght of the inverse head. This is 120 points and takes us up to 1250.
What all this tells me there is a possible move higher from here. But I also see strong pontential for a pullback of some kind right based on the current channel. It may take a little longer before the next real leg down...
If I don't see red Monday afternoon may close my current short positions.
You go long? No worries man... I'm not exactly nailing it myself.
well bud its official ,,, my skills as a trader ARE CRAP not sure if i even deserve to be throwing money around when i obviously have no clue as to what the hell i am saying or doing,,, sorry to have wasted your time with all of my childish meaningless unknowledgeable posts,,, thats time you can never get back MTT and im sorry,,,
Thanks beer. My aggresssive bearish move on Friday hopefully will pan out...
5 Point Topping Pattern
http://www.youtube.com/user/PSAadmin#p/u/0/fTnGBZIvVA0
Get ready for a ride.
Ok, not seeing a followthrough today with the big up day yesterday. Probably will regret this, but decided to double down my 3x bear positions here... Also picking up some QQQQ 54 puts as they don't have much of a premium. Burn baby Burn!
Still waiting to on what to do, market is staying bouyant. Just read John Murphy's message and he points out these extreme overbought conditions can go positive for 2-3 weeks. Probably will wait until Monday for another move...
You may want to want for me to do my trial run a little longer. The options could have performed better with this gap up. Not sure QQQQ and TYH are completely harmonious.
thanks MTT im setting up for a trial run with TYH with a options hedger,,,sweet should work out great considering my terrible reads on the market,,,ill let you know how she plays out MTT,,,later bud
I just look the S&P500 chart again. I will say every big move up followed by an up day has moved higher. Without any clear overhead resistence here, who knows how much higher it can go. But if we can get red this afternoon, then there is a good chance for that pull back I've been looking for as the smart money (or shall I say the inside money) knows how to take profits. We'll see. Good luck man...
i am looking for the bear ETF'S to go green today,,, im high i know but everything else i have been doing hasnt paid crap lately so ima going out on a limb and probably am gonna look real dumb EOD,,,
Funny you say that. I see charts really overbought here. We could give that gap up back next week. Still pondering here what to do...
but with DRV and FAZ continiously hitting new lows i cant help but bottom feed alittle ,,, im a fool actually,,, 355 shrs for an avg. 10.45 lookin to dip EOD
They are working on that. I think Obama is going to turn into Clinton now as he has no choice if he wants to get relected... I was sensing this and actually took a few long positions before I gambled on this pullback... My problem remains excecution. Still, this debt bubble isn't going away so be very careful again. Well, have a good one ITs...
Just money making money. This rally has been based on refi gains and cheap loans by strong companies. Also there are currency gains for those with overseas operations, with the weakening dollar. This is a techcical fix that can't go on forever. The weak US consumer will be the ultimate story here. There will be profit taking at some point, but maybe not here.
There are strong signals developing here for a move higher. I'll post whatever I see of note, but currently we are moving above the pre-flash crash April highs and a positive DOW-theory result of both Industrials and Transports moving higher. So there is room to move higher now. Just have to respect that, but be super careful. When I saw Europe and China was rocking yesterday before the open, I should have sold my bears (did sell those QQQQ puts). Will be waiting for Monday morning before I do anything. Still have a lot of money on the sidelines.
Holding my pinkie junk... One's actually doing well and another is really trying to run. We'll see.
ya my DD has been terrible,,, i had no idea they said they are extending bush tax cuts ( if i heard correct ) i would of went heavy on bull ETF's knowing the rich are going to get to keep more of their money ,,, did i hear that correctly ???
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