If we tag 881-882 area

AJ, Won't we see significant pullback after SPX double top (875-878)?

Thank you

Fed Pushes Citi, BofA to Increase Capital

Regulators have told Bank of America Corp. and Citigroup Inc. that the banks may need to raise more capital based on early results of the government's so-called stress tests of lenders, according to people familiar with the situation.

The capital shortfall amounts to billions of dollars at Bank of America, based in Charlotte, N.C., people familiar with the bank said.

http://online.wsj.com/article/SB124088901025362487.html

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Not that this matters when market opens tomorrow, although the futures are down

No. You can't short in IRA. You can buy inverse ETFs instead

What can I Invest in?
Stocks, covered call writing (covered shares are restricted), buying calls (funds equal to the aggregate exercise value of the long calls are restricted), and buying puts (shares subject to exercise are restricted), selling cash secured puts, spreads securities with European style expiration, futures contracts, and futures options. The IB IRA is structured as a Stock Cash Account (if you choose to trade only stocks) or as a Stock Options Level I Account (if you choose to trade options in your IRA). IRAs may also invest in US dollar denominated futures contracts, and future option contracts.

http://www.interactivebrokers.com/en/general/education/faqs/ira.php

Think Or Swim has excellent charts

https://www.thinkorswim.com/

I have not used them for trading but I heard they are decent
It got bought by AMTD recently.

Where does the FAS train stop? 12+?

Goldman Seeks New Stock Sale

Goldman Sachs Group Inc., riding a rising market, is considering making a multibillion-dollar offering of its shares to investors as part of an effort to repay a $10 billion government loan, according to people familiar with the matter.

The move, which could be announced as early as next week, comes as the firm prepares to report solid first-quarter earnings Tuesday. Goldman executives haven't determined the exact ...

http://online.wsj.com/article/SB123932742279007541.html

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As AJ said, we will see the IT top tuesday, after GS reports.
GS is not going to plan new stock sale if they are not going to report blowout earnings

But how does WSJ knows GS report is going to be solid?

AJ, Is this not violating your max-pain theory?

I was thinking we dip to the end of the week to rebound next week

Thank you

President Barack Obama is scheduled to make an official announcement at the White House at 11 a.m. Eastern time.

This fits well into AJ's 11am window, if it works

Does that mean, the today's low should be bought before 2pm?

Got out of FAS for a profit. Need to resposition

Thank you

End of Quarter+Month may ensure there are no major pullbacks. IMO

Is this scenario still in play?

With a Harami close today, if we don't go back up, the rally in trouble?

Thank you

AJ, Is this still possible this week? May be 875?
Shorts are loaded now at 800.
We will pullback a little tomorrow and squeeze the short again?

Why Dangerous?
Will it go to 0?
Is there a low entry that one can buy FAS and hold for a rebound?

Thank you in advance

AJ

Your FAS 2.5 target hit today. Unbelievable!
Where is the bootom for FAS? when FAZ hits 150 and SKF hits 300?

Thanks

AJ, Do you see a bounce at 756 that is tradable for 2-3 days before we plunge to new lows?

Thank you

Relax, Now it is postponed to Tuesday, no details about the time yet

http://www.marketwatch.com/news/story/bailout-plan-unveiling-bumped-tuesday/story.aspx?guid=%7B7EC72DD5-B31F-488B-9ED3-A454AC580DFC%7D&dist=msr_1

The Obama administration's updated plan to rescue the U.S. financial industry will be unveiled Tuesday rather than Monday as initially planned, an adviser says.

Appearing Sunday on ABC's "This Week" show Sunday, Lawrence Summers, the top economic adviser to President Barack Obama, said Treasury Secretary Timothy Geithner's public detailing of the retooled bailout effort has been delayed by one day.

The decision was made, Summers said, to avoid a conflict with a likely vote in the Senate Monday on the Obama administration's $825 billion economic stimulus package.

AJ,

What do you think of NTAP here?
Is it double top or on its way to 18?

My wife has a few options on them, which are underwater
Wondering whether to sell now or wait

Thank you

The speech is scheduled for noon Eastern time.

http://www.reuters.com/article/GCA-CreditCrisis/idUSTRE5147KK20090206

May be better idea to get out of longs by then?

AJ, How do you like DUG here for a possible XOM drop on earnings?

Thank you

AJ

Do you expect this to drag us down tomorrow?

UK short-selling ban to be lifted - Jan 16th

http://news.bbc.co.uk/2/hi/business/7812816.stm

Hi AJ

I signed up for your email list months ago. I have not received any. Is not active?

Thank you
maitri

What is Les's Number?

Thank you
maitri

Thanks. I have a feeling we will break out to the upside from the triangle tomorrow and close the SPX on weekly high.

Beautiful charts.
If only you could add timing into it!

Maitri

Max Pain question

http://www.optionpain.com/MaxPain/Max-Pain.php
Based on Yahoo. Max Pain for SPY is 110

http://www.optionpain.com/MaxPain/Max-Pain-CBOE.php
Based on CBOE. Max Pain for SPY is 78


Which one is correct?
How they can be so different?

Thank you

Sorry, I meant 200 week MA

maitri

Jim

We are very close to your 200 day MA target in SPX, right?
But the DOW and NASDAQ are not yet.

How higher we go from here?

Thank you
maitri