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gold up 12; bot GLD and GG this morning
QQQQ - 47 vaporized; trend on the verge
dow loses 13132; cnbc running commercials without the ticker
liquidations ongoing; sold all my longs on the pop and bot sds
speaking of futures, the exchanges must be making $ hand over fist with these vols. - like CME;
sure would be nice to know positions
of these hedge funds that are being liquidated;
LOL did you see another ib upgrade - MS
gees they are really promoting QID and SDS; dont think they're for the average guy; some times they lag other times they accelerate; people think they are stocks they can hold;
all this carnage and SDS is down for the week; i'm more inclined to play long in smaller portions in select stocks -
sure worked well today; NVDA was a cash machine; i hit it 3 times; also UA and DKS were great as well as MON
i dont have deep enough pockets to put on index shorts and just let'em ride;
we still have lows to test - dow 13132, spx 1427 and Qs 47ish
there was forced selling last 5 minutes; first and last hours
really do count; another fed injection tomorrow and some activity may come in at lows
MON
i took some profits; we need another scare
absolutely; GOOG, UA, JWN, Qs etc. FXI MON etc
wow nice moves - UA 5 bucks off the bottom, NVDA up 3+ from yesterday afternoon
got 197 BIDU
they're buying the good stuff; got JWN in 48s - now its back to 51s
nordies may have hit seasonal low; LOL women dont care about subprime
market started to sell hard about 2:15 when maria starts to tease with a rumor that someone big would warn after hours;
made it sound bad; then dylan comes on and throws out
"investment bank" hint and finally names GS as the guilty party; after someone got relief, they came back on and vaguely said GS sources denied (it was actually red at that point) and i added to tech hand over fist; earlier in the day
cramer issued an all cap urgent message to bail from GS -
many intra day charts unbelievable; cnbc is fomenting the
volatility - guess for ratings; that cramer rant last week
made it appear that some investment bank was going under; he
said he called all the desks and jobs would be lost;
ironic that nbc has the china olympic coverage and yet they showcase all their candidates who constantly bash china; they actually had maxine waters on today calling for a boycott;
gleno as your shorting the Qs take a look at CSCO monthly;
30 looks gone and if it holds on a monthly basis next resist
is near 38; also GOOG gap likely will fill
hi foot. 13700 needs to go to remove risk of H&S; looks to me
like some short was so desperate @ 2:15 (near 13675) they were willing to float the false GS rumor which cnbc and cramer
ran with; MACD doesnt look like rollover time; noticed that many of the good international names came back to life today;
as long as dems keep china attacks up should be a traders world altho we all know the adults are in charge; gold will
tell us if china is serious; we can always count on cnbc to keep the cramer clown show going; think this market would be more calm with the tv situation comedy; come oct there will
be a second choice and things will change
foot - great florida based company HRS, beats est.; guidance
raised and upgrade
INTC gap near 26
POT could run to 100
NVDA - reports tomorrow; international computer sales
strong
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AMLN - new hi
yesterday $spx again, spiked to that 1488 area; mild resistance
results in on cnbc's day of campaigning for clinton
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/08/07/bcnchina107a.xml
do any of these talking heads clamoring for a fed rate cut watch real world rates; $tnx went from 5.3 to 4.7 over the last month and mortgage rates went up; we've already had an effective cut of .25 to .5; fed rates will not solve bad loans,
mispriced CDOs or lenders licking their wounds and pulling back;
wells just cranked their jumbos to 8 from mid 6s; might as well just go on vacation;
got a quick buck off SDS
air comin out of the fed will rescue us bubble
very easy to push - look @ XOM, GE and C
energy bounce plus financial bounce
AAPL went up and tagged 137; tech is very weak; MSFT and EMC
falling and so is JNPR before CSCO
QCOM patent loss v, BRCM sticks;
http://online.wsj.com/article/SB118643307993889599.html?mod=yahoo_hs&ru=yahoo
Qs may pop on AAPL imac story tomorrow + AAPL has that gap 136.40 which may mean a run to 137ish; also MSFT judgment
overturned so its rally may continue;
http://biz.yahoo.com/ap/070806/microsoft_alcatel.html?.v=4
buck move in Qs and yet MACD cross-down (minor) on weekly intact;
also FWIW hi from last thurs and previous fri near 1488 on spikes; LOL, wonder if there will be more investment bank upgrades in the morning;
yeah spx is the weak sister; energies and financials are about
35%; SDS should work; select bios still working - AMLN weekly cup and handle
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i think commodities and oil may be the big tell; makes me less
bullish; the global boom/emerging markets are important pillar
$WTIC
i wish. it looks like good stocks, the winners, are being sold to offset the poison parts; if the market is rotten, even good stock picking doesnt work; MSFT, GOOG and INTC helping Qs however, even if we get back to 48ish we are only back at 2:00 friday afternoon; nibbled some SDS near 56.80ish
all the upgrades this morning were a joke but a help to those wishing to lighten up; energies getting murdered again (11% of
sp500)
not sure what the fed can do, besides jawbone; while treasury
yields fall, real rates are rising; complete disconnect between
10 year and mortgage rates
hi nirvana. like your approach. for all the drama friday, i was surprised they could not take out the wednesday lows;
big tech is becoming like debt free banks. MSFT has 21 bil
in cash, CSCO - 16bil, AAPL-13bil, GOOG-12bil. they also
have globally diversified their business.
CSCO reports tues. the pops above 30 area look interesting;
however, they sold it on last earnings. these 30-40cent swings in the Qs are something else.
if i'm going to short i'll stick with the spx however at some
point the financials may have a wild snap back and i'm not sure how long they can beat up energies; XLF and XHB are very oversold. at some point shorts should take profits.
my salvation last week was ATK; fake out pre-earnings sell off
to below 100; i got back in with calls and stock near 102 before
earnings; the 11-12 pop made my week, maybe my month; i'm out
now but will look to get back in. defense stocks may afford a
small measure of safety
DOW needs to hold 12950 next week; monthly still bullish
SPX monthly looks double toppish; key reversal on monthly and
i had 1474 area (last week) as the break in the weekly trend. it is leading the way down.
hi gleno. your chart shows it better. i was surprised how
much the Qs deteriorated. i played SDS last week cause spx
was the weakest. spx was plagued by bad financials for a while but the killer was the breakdown in energies. first the refiners went, then the integrateds, and finally the drillers. i thot the Qs, with tech would do better. we will probably bounce near that important 46.70 to 46.80 area (maybe on CSCO and ben), but the other concern for the Qs is the weekly of AAPL.
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