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watching the short interest on few stocks. With the techs getting hit today, a few have broken their lower bollies. Will be interesting in the coming days to see if the bear starts to comes out of hibernation.
Afternoon Jimmybob,
Nice one on ISRG.
SLV is showing an imminent spike due to the ADX pinching tightly. Could see a spike to 123.50-125 very quickly. Watching volume. If the volume does not increase, the Pinch could reverse and SLV will drop below the 50Dma.
GLD on the ADX is pinching to the upside. waiting for the pinch to tighten a little more. If the ADX does pinch positive, gold could pop to 133-135m area very quickly on gold buying from Asia as they retreat from stocks and return to tangible assets.
GLD and SLV on watch.
AMZN chart looking like a head and shoulders moment. Could test 50Dma?
Morning Everyone,
It has been awhile.Keeping my eye on AMZN and the 50Dma.
JPM earning tommorrow. major dip right now.
Stocks hitting major resistance. If they do not break on a day like, this watch for a minor dip in the coming days.
GM all.
G.M Everyone. GOOG triple top. If resistance holds, look for a pullback to the 860 range.
IMF downgrades World growth yet again.
http://money.cnn.com/2013/07/09/news/economy/imf-economy/index.html?hpt=hp_t3
June 2013 FED minute charts that are advance release.
http://www.federalreserve.gov/monetarypolicy/fomcprojtabl20130619.htm
It looks like 18 memeber are looking for a .25 percentage point hike sometime in 2013. This will definitely change market perception today.
China Import/Export numbers way off. Look for two days of declines if the fED minutes shows QE slowing in the fall.
VIX 17's Calls are looking tasty right about now
Yes Sir, but I do believe the Fed minutes coming out tommorrow could foreshadow the earnings report.
YUM is reporting 10 July, AH
ISRG could do a slight bounce in the 3rd hour of trading.
G.M everyone.
One the lookout is VPRT (vistaprint). With 43%+ of the float shorted, this stock has been moving on zero catalyst. Watch for this stock to move violently (either direction depending on outlook) when earnings comes out.
68,581 put action at the 162 area.
HOT HOT, APPL Sux
HOT HOT. APPL rebounding after hitting 413
G.M. Everyone. Looking forward to wednesdays fed minutes and some volatility. CMG looking for a pullback in the coming days.
GOOG fighting to keep the 870 mark. watch for a pullback to the 50Dma for a bear test.
Afternoon everyone,
I have been gone awhile. watch for the short buyers bounce, then a fall to 14200.
NFLX about to fall.
Morning Everyone.
TSLA and NFLX on watch for 4-5 bagger on puts.
morning everyone. Just got back. I am still stcking to my guns for a pullback to 14700 by June 15th. keep an eye on NFLX to fall below 200 by next wednesday. Has a huge gap to fill.
Morning everyone. My guess ISRG 485.00
Yes Sir. Watch the SPY for Puts. 3-4 bagger after lunch.
BAC 13P for a 3 bagger after lunch
Selloff after lunch. Watch the huge volatility calls on VIX
Roger.
Mr Einhorn has kept his small position gfrom his own money. I do believe he is waiting for the major fall in the markets once QE is to stop and interest rates are to rise.
Morning JimmyBob.
CMG has moon gravity underneath its 50Dma. Watching for the Einhorn revelation since he has not sold all of his shorts here.
CMG has a down side of 358-360. Will be watching for the 366 break ansd sustain. The bad thing about CMG it is slow, Painful slow on low volume.
CMG being alerted for a nice 5 bagger today on puts.
Sorry guys about not having stockcharts to show the wave.
I guess I could talk it.
If you go to the daily DOW chart make sure you can see it back to Dec 2012.
First thing to remember is Elliott waves move with sentiment. This means a motive or impulse wave (up phase) followed by a corrective wave (down phase).
It is here (dec 2012) that wave one of five starts. Elliott waves run in the 5-3 pattern in a bull market, and a 3-5 in a bear market. This means that for every up wave, there will be one down wave until you have 5 up waves and 3 down waves in a bull phase and vise-versa for a bear phase. We could go into the 89 to 55 ratio but I will keep it simple.
When the fifth wave is reached and three down waves have formed, you start to see the elliott wave. One thing to remember for a elliott wave to unfold, the third wave down must be greater than the first down wave unless, a triangular pattern is emerging. This chart is now showing a near precise elliott wave pattern.
Some do not like the elliott wave theory due to the Efficient Market Hypothesis. I agree with this. So you ask why then do you use the elliott wave theory? This is why; If it walks like a duck and quacks like a duck, then it must be a ????
I personally use the Elliott wave theory when the scenario is setting up as defined by the market. The SPY, The NASDAQ, and the DOW have set up in a perfect 5-3 ratio for the last six months.
The question is, is the last wave here the solid top, or is this the beginning of the second pattern? My view is a pullback to the 50Dma. If this holds, then there will be a move upward and the bull pattern repeats. If not, then we are looking at the creation of the Bear market.
Yes Sir. Thank You.
Evening Mikey.
Why I am looking at the 50Dma is the elliott wave theroem. On the daily you will see each successive wave downward used the 50Dma (or very near) to gather more support for the next leg up. Now we have Moon gravity between the 50Dma and the actual price an overheated RSI, and an ADX flipping negative.
Going back to June 2011 you can see where the RSI heated up to the 70 line and then turned going to the 50 line with hardly any middle ground. This is where I see a pullback to 14700.
Major Money will hover at the 50Dma for a nice pickup going into 4th Q. 3rd Q is going to get very ugly once the FED meeting in July spells out the path of ending QE.
Thank you sir. Watch PCLN, NFLX, LNKD, AZO, CMG, TSLA for major pullbacks starting next week. Will not be huge moves but the volatility will make some nice coin as bears buy shorts and bulls sell.
NFLX and LNKD have major gaps to fill below the 61.8% Fib retrace.
As I stated last week. QE tapering 3rd Q (few meetings) and my guesstimate that interest rates will be risen first meeting of the FOMC 2014.
My range for the DOW still holds at 14700 before june 15th.
BIDU. Here comes my 98.85. Lets see if she will hold at this fib level