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CMG looking for a drop. Low Volume and an ever smaller candle on top.
BIDU watching for support at 98.85. Will look at 105 calls if it holds.
GM everyone. Today is free money time depending on the helicopter?
Evening everyone. Nice call on BIDU. Remember helicopter ben on the hill and FOMC minutes out on wednesday. Could be a volatile day for options.
GM Jimmybob. Excellent call on silver.
GM Everyone.
FED Week. Two fed personnel giving speeches. Bernake on the hill and the FOMC minutes. Going to be an interesting week.
FOMC minutes to be released on wednesday 22 May 2013. Mr Bernake will testify on the hill the same day. Watch for not so subtle hints about ending QE in 3rd Q.
http://finance.yahoo.com/blogs/the-exchange/week-ahead-test-dimon-apple-taxes-focus-bernanke-230011630.html;_ylt=Ar2lGz.E65Yl9plo4.RGPE6iuYdG;_ylu=X3oDMTNydmFldWQ4BG1pdANGUCBUb3AgU3RvcnkgTGVmdARwa2cDN2Q4NWNmN2ItNTgzZS0zYjM1LTkyMDYtZDA1OGI4YzMwYTIxBHBvcwMyBHNlYwN0b3Bfc3RvcnkEdmVyAzdjYzg0MzcwLWJmNTktMTFlMi1iZjlkLTIyMmEwNTAyNTc1Zg--;_ylg=X3oDMTFkcW51ZGliBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3BtaA--;_ylv=3
Yes. FOMC meetings. This meeting of the FED is about nothing in paticular. The meeting in itself is not what is to look at but where the personnel will be and what they will say as to their prior speeches this week. You do not take a crack addict and have them go cold turkey, you ween them off with methadone.
This market has been QE'd to death. Yes the market is making new highs and massive amounts of money has been coming in, but the support is weak.
The fulcrum here is QE. It allows companies to use free money to make money. Take that away and the support on equities weakens. This is why the Fed is coming out with their options. This is to tell companies that QE is to end and to start making plans for interest rates to rise.
Those who got in on the start of the market run will be looking to take some profit off the table. Resistance is starting to make headwind. Last month the amount of money flowing into the market slowed for the first time.
Some will say that the Gold and Silver pullback shows that equities are getting stronger. If this was the 1990's I would agree with you.
High speed trading algorithms has thrown that marker out the window. Twitter in itself can cause a stock to rise or fall in a matter of minutes. We are living in a new age of trading where news, social media, and trading algorthms is the new norm. Peeps with 6 or seven trading screens in their homes taking in massive amounts of information. Myself spends seven hours a day reading the news trying to decipher what is what and getting it right about 45% of the time.
I do not personally believe in "sell in may" because it pertains to those who actually buy stock. As an options player "The sell in May" play can cause major volatility allowing for 500-10000 percent profit.
No. FOMC meetings do. This FED meeting is a regular scheduled meeting, but statements next week from some members will reflect what next months meeting agenda will entail.
Sorry FED Board meeting 21 May.
http://www.federalreserve.gov/aboutthefed/boardmeetings/20130521closed.htm
Fed minutes are out next week. The circus (fed Board personnel) has went to the four corners of the globe telling everyone in Fed speak that the taper is coming at end of summer.
Evening everyone.
Just a word of caution (not sky is falling)Some bad news is about to hit the airwaves.
1. The FED bond buying program will start to be tapered off starting in 3rd Q. This announcement will come early as next week.
2. Market is at a major resistance point. This does not mean that the market will not go higher it just means to remember investing 101 (Fib Retraces).
3. Currency war is starting to heat up.
My crystal ball tells me the DOW will be at 14700 (minimum) by June 15th.
Looking at the 780's if it breaks the 795 line.
CAT will see 82.50 but it move to D%am slow for me right now. Too much resistance on the downward side.
Betting on the fib retrace. PCLN could go now but PCLN has the nasty habit of moving after lunch. I know this because you called priceline last year when it began a huge move on a thursday evening. It ran for four days. Made some coin off of that one.
PCLN will hold the 802-804 line until after lunch then it should show it true colors.
PCLN going
PCLN about to capitulate.
Thanks jimmybob. PCLN is ready to timber soon down to the 785 line.
GOOG 908. WEEEEEEEEEEEEEEEE
TO DA MOON.
Agree. PCLN on the other hand is showing fractures at this price. Looking for a pullback to the 785 region
Mornin Jimmybob.
I agree, but a small pullback to the 900 line for refuel is needed for the push into the 1000 range. The news will be the driver today after lunch once the craziness settles down due to end of month options expiring tommorrow.
PCLN.
Watch for a pullback to the 785 line due to profit taking and an RSI at 79. Looking at the 1 and 5 minute charyt hard today for fractures. News will be the driver today after lunch. Hearing rumblings that the summer time profit taking to happen soon.
CAT.
200Dma broken, and the ADX is pinching tight. CAT ready to uncoil to the downside. With mining slowing down due to gold and silver prices and the cost to mine the metal is going up, CAT will need to find a way to reduce their inventory that keeps increasing and was geared for the mining sector. CAT has not come to an agreement with the union at their factory. This will cause uncertainty with investors if it goes to strike.
All of this equates to cat hitting the 82.5 line very soon.
GOOG.
Watch for a pullback later thursday for a 8-10 bagger around the 900 line
CAT 82.5P on alert. ADX pinching. 200Dma tested. Once broken the 50Dma will fall quickly. Keep on RADAR for the coming days.
CAT, Watching closely. The Death cross already in place, just waiting for the 200Dma break for a quick put play.
Evening Mikey,
Will be watching the 1 minute and 5 minute chart very closely tommorrow.
TSLA. Do tread lightly here. Been seeing alot of stocks with huge shorts get attacked and making shorts cover to raise the price. SODA, GMCR, NFLX, AMZN to name a few is over priced as far as debt to cash on hand ratios is concerned.
I have not Bought TSLA yet due to not so smart money continually pushing the price up without any 50Dma support and an RSI burning close to 88. I see a pull back to the 80 area in the coming days for a pause before finding direction. 10 bagger in the making here.
TSLA. Watching 80p for May (no date). Have not pulled the trigger yet, even with the pop to 87. Need better confimation for a 10 bagger minimum.
JPM.
Dimon thinking of quitting
CAT.
Huge short position placed. Jump from 16.558 Million to over 29 million. Somebody looking for humpty Dumpty here?
Morning Jimmybob,
I see a pullback due to squeeze, but I do agree that TSLA once it calms down will go.
TSLA like a thirsty person, squeezing everything out of the orange before tossing the rind. Stock not worth the valuation here. Could see major activity in the coming days on the downward side.
SODA margin requirement just got upped to 60% from 40%. With over 50% of the float short, watch for a huge short squeeze coming.
MANU puts today. The legendary manger Alex Ferguson is retiring. I See at least a 3 dollar fall on this news.
FOSL 115 calls at .35. Let's see if earnings take me to a far far better place.
GM everyone. Look for MA (mastercard) to test the 50 Dma soon.