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Market trading above 50 on the 5-minute tick chart, but can it hold into and through the final hour?
Also, the VIX still has room to run to the 50 day MA...
3:03 EDIT - NOPE!!!
Came 3 cents from 50 day MA, I still think it could go lower => showing no signs of decoupling from the market... yet...
At this rate BnB - Both of us might be wrong...
VIX is magnetizing towards 50 day MA >>>
I always knew that would come in handy some day...
SRS - time to go parabolic, gapping up over 65 headed into options OE - now you know why someone swapped a 5,000 block this past Friday at that area => That is 5,000,000 shares upon delivery =>
65 is today's pivot point due to options expiration in just 2 days, someone bought and someone sold a 5,000 block on these this past Friday, and it looks like it'll gap right over it.
Possible short squeeze setting up = 5,000 = 5,000,000 shares...
Retail sales numbers - All I have is one word - WOW! - This could start going parabolic today right into OE, especially with the added volatility!
***NOW IS THE TIME TO BE BEARISH!***
WAKE UP PEOPLE!!!
http://www.schaeffersresearch.com/streetools/market_tools/inv_intel.aspx?click=jumpto
VIX & SRS - 2 pea's in a pod...
With that said, follow the VIX into options expiration, it has been known to flare up on occasion... of course SRS is going to be more volatile than the VIX, it is after all a 2x short trading vehicle, but you get the idea nonetheless...
Fun with numbers - Wave analysis since last Tuesday's January 6th bottom:
48.63 - 55.83 (wave 1 up) +7.2/+14.80%
55.83 - 52.78 (wave 2 down) -3.05/-5.46%
52.78 - 67.98 (wave 3 up) +15.2/+28.79%
And so far we've gone down as low as 61.03 in market hours with the potential wave 4. There's a gap to be concerned about located between 59.04 and 59.40 which could get filled tomorrow shortly after the market opens should the gap up in the futures hold.
If the bullish pattern is to succeed, you can kind of project where wave 5 up would target by not only using simple progression, but also looking at where key resistance points such as the 200 day moving average and 50 weekly moving average are, this has been my target all along.
Wednesday looks very crucial in keeping the bullish trend in tact.
With that said, the following is my projections of wave 4 down to wave 5 up >>>
67.98 to 61.03-58.80 (-6.95 to -9.18/-10.22% to -13.50%)
*58.80-61.03 to [around] 90.40 (+29.37 to +31.6/+48.12% to +53.74%)
*Could theoretically go slightly lower then 58.80 and still remain bullish*
Comments, thoughts, concerns... etc.???
***SRS 61.45 - After trading as high as 67.98 shortly after the bell rang Tuesday. There's a possibility that the 59.04 gap on this one could get filled tomorrow morning. As it stands right now, the markets are going to gap open, of course this could change at 8:30 AM tomorrow when Retail Sales numbers come out.
My target remains 90. I'm going to mix in the VIX below since increased volatility adds to SRS, especially since we are nearing options expiration, I am also bullish on the VIX as I believe it had a key reversal last week:
~~~~~~~COMPX 1/14/2008~~~~~~~
Previous Close 1546.46 +7.67
1571 SSKILLZ1
1496 FA
Beware of false hope... the VIX looks like it turned the corner, closed at support today, I think we could have a very volatile OE this week shaping up:
Retail Sales tomorrow
PPI Thursday
CPI Friday with Industrial Production as icing on the cake...
Get ready for further volatility, the VIX has a clear bottom-reversal heading into OE which should mean it'll at least target its' 50 day MA and Retail Sales out tomorrow at 8:30 AM, I'm still long SRS into tomorrow!
Good luck everyone!
http://www.bloomberg.com/markets/ecalendar/index.html
Exactly, if you can't keep up boys, stay away, she moves fast, now trading under true intrinsic value!
Copy & paste link, I'm convinced someone is shorting this more and more to keep it under 65, not sure, but someone sold 5,000 call options for 65 that expire this Friday and someone bought, could see an all-out war on this soon...
http://finance.yahoo.com/q?s=^SRS-IV
Or up over a dollar, depends on if you bought today's base: #msg-34781329
Good luck, expecting good things outta' SRS!
SRS goes green - SURGING into close!!!
I'll bring the tar, who wants to bring the feathers!!!
SRS hit 64 - After lunch-time consolidation in the 61's and lower-end of the 62's is starting to take off again, looking for a green close today, if not 70+ - False bear market rally this morning fooled many... gave a few the opportunity to get SRS on the cheap!
If Nasdaq confirms break of the 50 MA on the 5-minute tick on the intraday chart... get ready to short the market into Op-Ex... AGAIN...
Or long SRS... make your pick...
SRS 61.92 - Close to confirmation breakout post-lunch...
Looks like a base forming here in the 61's off of the 61.03 lod, should breakout after lunch,
Watch the intrinsic value - It should start to turn the corner before the actual ETF (copy & paste link below):
http://finance.yahoo.com/q?s=^SRS-IV
Long SRS at 61.83
Pre-Market 68.15x68.19 => Gapping up...
76-91 today, they also changed the symbols of some option lines that expire Friday... that is unheard of!!!
~~~~~~~COMPX 1/13/2008~~~~~~~
Previous Close 1538.79 -32.80
1575 SSKILLZ1
1500 BullNBear52
1491 FinancialAdvisor
And buy guns (while you still can), water (while it's still clean), food (while it's still on the shelves!)...
My initial price target was 90, the 50-weekly moving average and the 200 day moving average, ironically 91 just popped up on the P&F price objective!>>> Up from 76 to 85, now 91!
Volume of up-ticks per down-ticks on this one is going to show a ton of bullishness, I wonder if folks are still shorting SRS here? That would be like the German billionaire who reportedly jumped in front of a train...
If Nasdaq fails 50 SMA on intraday, get ready for a Michael Phelps dive into the close...
SRS bullish breakout on significant confirming volume today, which begs the question, who bought & sold a 5,000 block of 65 calls last week?:
SPG - textbook breakdown out of flag => Bearish => Retest of 33's coming, and likely 20's as the volume dictates...
See how BAC declined in October, same thing here in Commerical Real Estate just started on about a 3-month delay...
I've got a source, a company that renovates foreclosed properties, business is through the roof right now...
2007 - Condo's
2008 - Single Family Homes
2009 - Commercial
I'll call and raise you 2!
SRS new hod 63.40 - Volume already above daily average over the past 3 months with the most important 3 hours left in the day...
New P&F price objective of 85... up from the previous 76...
SAR also turned positive on the daily chart:
***S&P 500 SURE TURNED BEARISH IN A HURRY***
*Good bye 50 day MA... Good bye 20 day MA... Hello target of 670?
SRS is a wild bull out of the gates this morning!
SAR went positive on the daily chart of SRS >>>
The US Economy to go into a Depression in 2009
Last Price: 59.0
What does this mean?
59.0 means the market predicts there is a 59.0%
chance that this event happens.
If you think it is more likely than this you should [BUY]
If you think it is less likely you should [SELL]
All markets trade between 0 ($0.0) and 100 ($10).
59.0 = $5.90
LINK >>> See http://www.intrade.com for details!
62+ hod now... someone knows something, that is the tale of the tape and I'm sticking to it, someone to go bankrupt very soon imo.
AA is going to report a sizeable loss on "restructuring" - Does that mean the Balance Sheet was Satyam'd...
Crack 60 today?
Pre-market 59.98x60.00...
So how much did Israel spend on American-made WMD last year... saw no mention in the article... and still can't believe they are trying to sell the war in Iran... STILL!