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Is anyone here going to try and catch the BAC bottom? I have no idea where it would be... any idea's? Would love to talk about it...
Besides $ GOLD $ - [COUGH COUGH* JPM buying] What's looking good today?
Been a fan of gold since '04 - not a fan of sub-pennies though, company is most likely a paper-printing press that makes money off of selling stock...
Looks like the rally could kick up again this week, we'll have to see, but you definitely want to be out by the end of the first week of February from what I'm hearing...
What does the Google logo have to do anything with the share price...?
~~~~~~~COMPX 1/20/2008~~~~~~~
Previous Close 1529.33 +17.49
1547 FinancialAdvisor
1487 SSKILLZ1
Bearish price objective could be met, currently at 43, was 48 on Thursday I think. Could see a bottom now once the VIX retests the gap and I'm thinking it could likely overshoot to the 200 day MA.
I'm hearing you want to be short by early February though or long SRS... take your pick but wait for the VIX...
Banks off a cliff today and Gold Stocks up the other direction, seems like the financial masters of the universe are losing control...
Not a wise move, tell your posse that my source in the pits says JP Morgan cohorts are really making some bullish bets on gold, you saw how they can manipulate oil... if JPM starts buying gold and silver (instead of naked shorting it), watch out above...
There's also folks from another circle taking physical delivery of silver and cornering that market, the shorts might work for a small period, but eventually they will following up their respective commdoties in a parabolic fashion...
SRS - The only bullish bet I ever should've placed today, watch 68 - if that goes, I expect quick burst to 75, even 80 isn't out of the question, where's the bid support people???
I noticed that, I'm hoping for a retest of 75 today still though, overly optimistic I know, but still possible unless the boarder market sees some significant bid support soon...
Hi gentlemen, if 68 breaks today, we could see 75, and the options interest at 80 could even be a possibility. Of course this means the VIX would need to pick up steam and beat through 50 day MA, something it was unable to do yesterday.
frenchee, anything is possible, but 68 seems like resistance, and if 65 can't hold, looks like a potential bearish fan developing... I might take a bigger look at it next week.
Averaged down all in NEM 36.69
***Intraday Nasdaq Chart***
*Rally time here if the 50 holds>>>
Can't believe NEM is red right now... this has to be the intraday bottom... right... right... right???
I hear nothing but echoes down here... YIKES!
Bear Stearns collapse had GOLD over 1,000... why is it still trading at just 831 boggles my mind...?
Someone find me a better stock apart of the S&P 500, should benefit greatly from gold prices over 800 the ounce and oil prices (their largest expense) coming down considerably...
NEM 37.57 - going to turn the corner here... see $GOLD so far today>>>
9:54 EDIT, went long .NEMAU at .40 - Target is 2.00 as a small daytrade gamble.
Long NEM here for a daytrade under 38, should magnetize to and maybe even through 40 with $GOLD's action today and options expiration taking place.
***U.S.A. (NY) MARKET FUTURES AS OF 6:30 AM***
DJIA +121.00 to 8,283.00
S&P 500 +13.30 to 852.60
Nasdaq 100 +17.75 to 1,195.00
***COMING TODAY***
8:30 AM - Consumer Price Index
9:00 AM - Treasury International Capital
9:15 AM - Industrial Production
10:00 AM - Consumer Sentiment
*The S&P 500 closed yesterday +1.12 at 843.74 >>>
>>> The million dollar question today on triple"witching" options expriation is do we long the open or short it? And will the economic data give us a hint? >>>
*$GOLD is currently up at 6:56 AM - 12.20 to 828.90 the ounce...
*USD Index is -.65 at 83.81 >>>
***TURNING BULLISH...?***
*Heckuva doji candle today on immense volume as socialism-hype of another bail-out takes over... YIKES!
Triple-"witching" options expiration tomorrow, expect increased volatility!
1 penny away from hitting 50 day MA today... lol... still waiting...
10.19 - 50 day MA
10.20 - today's low
Closed at 10.49 - looks good... just 4 cents off of the hod.
This is starting to look intriguing giving the growing socialism ways and printing money out of thin air going on in our country.
The only thing I'm concerned about is the P&F downside target of 12.50... I might analyze this a bit more, maybe run a fib, or if you have a minute this evening, see if you can throw a fibonacci on the chart, be interested to know if the most recent pullback hit some support today or if it's near-bye.
TIA, nice charting as always in the ibox, no one has any excuses not to see the technical indicators on those, sometimes I have to move my chair back a few feet just so I can see 'em ;)
Yeah you can take that sticky off, I think we got nullified after we broke the 61.8% fibonacci on the way down! And tomorrow is OE... could see even more crazy swings, looks like we churn for now...
SRS - MONSTER RALLY AS FORECASTED INTO EOD... WOW!
Triple"WITCHING" ought to be fun, I'll bring the tar and feathers ;)
Good call on the 61, could be a nice intraday double-bottom or triple-bottom just below from the 60.60 low... guess we'll find out soon, the gap below is concerning, and I believe technicals do work here on SRS, so that could act as a magnet, now 65 could create shelf resistance... thoughts, forecasts, anything from anybody?
Thanks again frenchee for the board...
SRS potential intraday bottom 60.60 - and now a rally into COB and OE?
I think 64.77 was it, 65 is providing support from that 5,000 block of options that was exchanged this time last week. If we fail to 61, I'd be concerned that we could chop around for a while and the rally would get killed due to multiple (and potential) up-days on the broader markets... if you get what I'm saying.
Still not sure all the margin calls got kicked through yet, should see some more I would think today and tomorrow, but who knows, the Obama pump I've been hearing about might still have some legs?
Hi frenchee,
Got my eye on this, let me know if you see something I might not...
TIA,.
Just hit the trendline and even went below it with the 64.77 print... wonder if that's the low... Glad I took some off the table, but wishing I took even more off now when it was in the 74's...
Still riding more than 50% of the initial position, just wondering what's next for SRS...
Sharp drop off of that one, but bounced sharply off of the 70 support, let's see if that holds into EOD. It looks like it could've been a shakeout, triple-"witching" tomorrow, VIX sitting right on the 50 day MA, not sure if it's going to break it or not...
It's all freebies now, so I'm stress-free into OE!
...hey that kinda' jives... >>>
It's all freebies now, so I'm stress-free into Oh-Eee!
Hi all, just wanted to let everyone know I lightened the boat a bit... still riding little more than half of the initial position though, may take it for a wild ride in triple-"witching" tomorrow hoping to cash in on heightened volatility, not sure yet.
GLE!
frenchee, how are the bollinger bands looking today, let me know when they start pinching... you're pretty good with that, TIA!
~~~~~~~COMPX 1/15/2008~~~~~~~
Previous Close 1489.64 -56.82
1525 SSKILLZ1
1411 FinancialAdvisor
The higher this goes, the more likely that loan repayments are NOT going to be made, this is adding further speculation that a big name is going bankrupt soon... could it be GGP?
Charts >>> http://www.markit.com/information/products/category/indices/cmbx/history_graphs.html
VNO huge dilution news after hours >>>
Vornado Declares Quarterly Dividend on Common Shares of $0.95 Per Share Payable 40% in Cash and 60% in Shares
60% of dividend in shares... why? Most likely cause they can't pay it... but rather then cut it, they dilute!!!
Full news article >>> http://biz.yahoo.com/bw/090114/20090114006275.html?.v=1
Someone thinks this is going to 80+ by Friday, check out the volume in the 80 calls!!! Easily 2x over yesterday's reported open interest! And today's highest volume of any January option!
http://finance.yahoo.com/q/op?s=SRS
Or Direct link >>>
http://finance.yahoo.com/q?s=SKRAB.X
***Same thing happened Friday with the 65 call, and look where we are trading at now!!!***
SRS gaps up hard tomorrow imo. There's going to be several margin calls being kicked out between now and through Friday's OE.
Looking very bullish, can see an intraday inverted H&S breakout here, could close 70+... just .90 away from 69.20 HOD here...