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Stopped out at a small loss. Probably should have given it a bit more leeway, we shall see.
Shorted ES at 1288.50, just for fun.
Trying a new tactic--covered my short at 1289, from 1291, and I went long ES at 1289, too.
Buy stop under the market, of course.
There has been a little pick-up in volume on the upside, but nothing spectacular--certainly does not look like the $7.5 billion of POMO money. LOL
Pretty quiet here, too. Four trades for 5 ES points, still short one ES--my core long-term holding.
Rather surprised at the lack of POMO inflow, or maybe they are disguising it better.
I'd like to see them step up to the plate this afternoon and provide a real good shorting opportunity.
From ZeroHedge--this probably helped the slide down--don't worry the POMO money will save us.
Oil Jumps On Israel Violence Escalation: Tanks Enter Gaza, Kill At Least 3
by Tyler Durden
And just as oil was trending lower on the day, we receive our now daily news of Israel conflict escalation, as Reuters reports that tank fire has killed 3 Palestinians in Gaza, wounding another four including children. Bloomberg also chimes in:
ISRAEL ARMY SAYS FOUR PROJECTILES LAUNCHED FROM GAZA HIT SOUTH
FOUR PALESTINIANS KILLED BY ISRAELI FIRE IN GAZA, OFFICIAL SAYS
The result is an immediate jump in oil as the market apparently, and contrary to our expectations, has to digest this latest piece of geopolitical news.
Significant break of the 1290 ES level will start a nice downslide, imo.
Still short ES.
"100 point profit" --you are a patient guy.
And just in case I don't wake up, I've got a stink bid in there.
Good work on the comfy sleeping arrangement that you earned today.
Not today, Lee. I covered my shorts a bit too early today, and the flat line trading didn't generate enough chances to do much.
In fact, the entire day's range was set in the first 40 minutes of trading. All the action is taking place overnight it seems.
Still holding the ES short--just in case California slides into the ocean. JK.
Also leaning on the short side--bopped ES at 1294, once again.
I'd check the SEC filings and get all the details on any warrant before plunking down much money. There are often provisions whereby the company can make the conversion date immediate, once the stock price passes a certain level.
Covered ES short from 1295.25 at 1293.25. Will look to re-short if they push it up again.
Short ES at 1295.25.
I like this:
Supreme Court Rejects Banks' Bid to Shield Fed Lending Data
Sourse: Bloomberg
From Bloomberg:
POMO today is $2 billion. But there is also the SFP money for the BOYZ this week, the last shot of $25 billion on the 24th.
Covered at 1292.75. I expect another push up before the POMO results at 11.
Short ES at 1294.
They can always buy some Spanish paper.
BTW, I'm leaning more toward hour trading now.
I think he's saying--keep your eyes open to the possibility that the next cross could be worth paying attention to.
Or not, as he also pointed out. Fact is that on a PE basis, the market is overpriced, the Federal Reserve is close to being out of control, inflation is rampant in many commodities, the dollar is toast and confidence in it, and the Fed, is declining.
Add in a new war, a new oil slick, problems in Japan, problems in MENA, and why couldn't there be a steep decline.
Or am I missing some good news?
Oh, wait a minute, I forgot about the sovereign defaults soon to come. Maybe I better stop now.
For the technicians on board:
http://www.financialsense.com/node/4546?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+fso+%28Financial+Sense%29&utm_term=FSO&sms_ss=twitter&at_xt=4d8578603f10370c,0
Then pull up the charts for the Dow and the S&P 500. Might bear keeping in mind.
Out of the box to the downside now--finally some action?
EDIT: Shorted ES 1275.75, covered 1273.50.
Still short, will possibly add more on a bounce.
zab,
I agree, but one never knows with the BOYZ.
And this is a dull, dangerous market to trade, imo--for instance the ES has traded in a range from 1276.75 to 1280.25 for the past two hours. The usual indicators are not indicating anything.
Due diligence?
You mean that their last 10Q showed current assets of $70K; current liabilities of $340K; and a note payable of $850K; and that they lost $1.9 million in their first nine months?
Thanks for the tip. LOL
Yes, you are allowed to be bullish on your picks.
However, with 72 posts total, almost all of them are pumps for that stock, or replies to others comments.
And anytime I see an individual posting so much about his great stock, then I begin to question your objectivity.
We got your message, now let the incessant pumping go.
Just how many times are you going to pump that stock here??
After holding ES short overnight, and having my head handed to me on a platter, I've been waiting patiently to take revenge. Got a little by shorting more ES at 1283 and covered at 1278.25.
Still short, but will watch and wait.
Thanks, Lee. I had a number of Kramers today, but the net is +26 ES points, so I'm not complaining.
But, I doubt I'll sleep soundly, not with an open position. But I'm a 'light sleeper' normally, so it doesn't bother me to check in during the night.
Another Kramer! Good trade.
Thanks, Lee.
Now on the dark side again--who knows what will happen is the UN were to actually pass the No-Fly Zone resolution. Brent crude has already jumped $4, so there is some worry out there still.
Sort ES at 1267.75; stop in way above that, as I anticipate holding this overnight.
Out at 1267.50 for almost 4 points--no need to be any greedier than that. And, once again, a Kramer.
I wonder if we will get a repeat of yesterday's action, where they drove the markets up quite a bit from the lows, and then the BOYZ stopped spending their POMO monies?
Anything near 1270-1275 might be good shorting territory.
Long ES for the afternoon ride--at 1263.75. OBV has picked up noticeably--I think the POMO is working, once again. My guess is that they would like a triple-digit print on the DOW at the end of the day.
Slowly raising the stop, willing to break even, for a chance at a good run. Yup, that's called being greedy.
Covered for a point gain.
They took out the uptrend line, so I re-shorted at 1266.75; stop in place.
Edit: Covered second short for a point gain also. Looks like the POMO BOYZ may be lurking after all.
Short ES at 1269.75; stop in place.
But the selling is fairly muted in the ES at the moment, so I'd like to see either some volume come in to the downside, or, preferably, another pop with some volume that could be shorted.
I'm afraid we are going to be bored for a couple of hours instead.
Good one, Lee.
I was also selling--ES at 1271.75 that I had bought at 1268.25.
If, and it's a big if, we get some POMO money today, it will be interesting to see if they can get it back to the 1280 area.
I'm trying to get more disciplined in my ES trading--so I'm not watching the news as much as I used to, but rather paying attention to the charts. So, I'm trying to annotate the chart(s) as the time passes, putting notes in to show, say, crosses on the indicators, reversals in OBV, etc. And, always having stops in place.
So here's today's work so far:
So, I've made my day already, and no doubt those sells were Kramers, but, ya know, Kramers are good.
Now I'll try to do some real work, and check in from time to time, to see if some better set-ups come along later.
A buy-stop on ES at 1264 might be worthwhile--if the POMO money will come in this afternoon.
Today's POMO: $6.580 Billion.
Will it make a difference?
I stand corrected--I was looking at the settlement date. It is postponed--results at 12:05 p.m. today.
Maybe we will be saved after all.
OK, here's the culprit, according to ZeroHedge:
Took another point from 1266.75 to 1267.75 on the ES.
Edit:
Sold ES at 1266.25, bot at 1265.
And another point from 1264 to 1265.
Bot and sold ES a couple of times--for profits. Now flat.
Why can't I stick to my game plan of always having one short ES?? LOL