is...itchy
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Everybody has their own opinion, everybody has their own opinion!!!
you eat them for breakfast???
The indications at 3:50 were 80% + buys and the dollar amount to buy was 3 billion dollars. That was from the floor of the NYSE.
Jordy is one of the biggest toolboxes I have ever known. Was not friends with him. Never worked with or for him. But the few times I met him due to the circles we each ran in, I laughed at how much of a dbag he was, but that is common in Long Island. Sorry, just needed to interject.
Today is a reversal day, we will rally here albeit brief I believe. 192 to 194 range. Techs looked nasty though. Though I am still not convinced, I have seen set ups like this many many times. No need for us bears to be worried though, it won't last long. The trend is still down...
One of my technician buddies said to do the exact same thing. I was going to buy the 300's that expire this week, but never got a fill. I was managing all these other positions. Nice, move, should work out well for you!
I closed out some spy puts today (Oct 194's and 192's) and left the long dated ones alone. I was long a lot of UVXY from the mid 40's and kicked 90% of my shares. Started nibbling on some gold and biotechs for a small bounce into Wednesday. This market is an ugly pig, but I think they will slap some lipstick on her for her end of the quarter dance. These are interesting times...
Well, that was an interesting day. I take the last few hours of action as nothing more than a sophisticated paint, just like the previous days. I am not convinced that we go higher tomorrow. We simply tested the lows of yesterday which is now resistance and could not stay above it. The selling was methodical once again in the morning, but the real sellers came out above 193, which as we know has been pretty much support the past few days.
I suspect Yellen isn't going to use her speech at Umass as a forum to give any clarity, even if if she did, who would believe her?
I just feel today was a day to lure bulls into thinking we have a temporary bottom. I play both sides, so whether I am correct or not won't really have an adverse affect on how I trade.
Just sharing my thoughts based upon what the tape was telling me today. I just feel we are prolonging the inevitable, which is more downside.
Just with the way this week has been, a break of 190 tomorrow would not surprise me, nor would a move to 195.
Can you imagine we get another doji close tomorrow at 191, just like Monday and today? That would be 3 crosses in a row, on Yom Kippur no less. To boot, the pope is coming to town here in NY as well tomorrow night.
oil is doing the opposite of what I expected and it doesn't seem to be helping the market, which it normally would. Is the market waiting for it to close?
I wish I was as optimistic Risk. I feel comfortable saying that to you since we know you won't get bent. The tape is not showing me anything positive. Care to share?
VXX percolating?
The crazy thing about this risk and I said it to Imiloa the other day, this won't be a "boots on the ground" thing... Scares the heck out of me to think what it could be like...
I've been outside sitting in my car since I thought the party started yesterday. Imiloa, I told you that I wasn't buying it yesterday in my email.
I am always early to the party. Guess it's better than being late.
Doctor please, some more of these...
The later part of your post was what I was thinking.
No idea, just thought it was an interesting parallel. This could be Europe selling US stocks maybe?
Interesting how as soon as Europe closed, this drop began.
you have it, I sent you the picture of the bad plastic surgery with the bald con. :)
Not much, just know he rolled with Lambro. The other thing was he was married to Miss America or something and it was on TMZ. I have something else, but not 100%, shoot me an email.
How ironic that I said "Black Monday Part Deux" in my email to Imiloa and then France gets downgraded. I swear, I didn't know!! lol
i don't look at individuals, I just get the breadth of the whole market.
No, this is for listed stocks in general, though you can get symbol specific data.
Usually it's "Imbalance" data.
Yes, this is public data. You can subscribe to the data on many trading platforms.
Closing indications are 1 billion dollars to sell on the floor.
But what was the title I put? lol
That's funny, ask Imiloa what I called it in an email I sent him? I added a twist to mine.
Would ya Jeff? I would need at least a half bottle of tequila... on second thought, make that a whole bottle...
No problem Kitchen, send half your profits to... :) I think everyone on this board deserves credit. Risk, Imiloa, Jeff, and many more of you. It shows when you have a collective group of heads put together, it is easier to rationalize between fact and fiction. I think we have some decent legs down here. We can start with the 196 support and then that big 194.50ish support that we had back on the 11th. Good luck bud!
Closing indication: 92% of orders to sell on balance with $1 billion to sell on balance
Spy singing its siren song and looking to bait in wayward sailors.
The Fed is concerned about emerging markets... "Dollar denominated debt"... Deflation... see you a lot lower.
I am thinking you will make a lot of money on that trade.
yes sir.
Most have said the market movement over the past week is normal and that we have entered into different times in this market. One of my close old timer friends has said since July that he believes the rate hike gets pushed off again. He is very fearful of global delation and thinks that it has already started to show itself. "The Fed is out of arrows in their quiver" was the way it was put to me. Sell on any rally of substance, especially ones without volume conviction (I was told this last week). The general thought is short term up moves will not be sustained.
FWIW....Consensus among the old timers on Wall street who I know is no hike and if they did hike by chance, they will sell into a rally and move their retirement completely to cash. A lot of these guys are technicians. They all say we go lower and we have entered the beginnings of a bear market.
Rich is a great guy, he is the nephew of NBA great Rick Barry... I have met him several times. The technicians I am friends with and that know him very well, are all bearish.
Pro,
i get the gist of the article, but the problem is (in my opinion) that people expect things to be "normal". Any break of moving averages will be saved by the almighty market. We have seen it with the fast paced V recoveries which I think people (not saying you) have become acustomed to. It fills that "instant gratification" need that most of us American have. I look at it this way... America is a Ford Focus and the world is a Mack Truck doing 80 on highway with an intersection. Our Ford Focus may be partially into that intersection or in the dead center of it. It isn't going to matter how much because a Mack Truck doing 80 will total the car no matter what. Will it kill the person though? That is where we lay now.