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There is a reason this
stock has lost 99.7% of
it's value in the past 52 weeks.
Heed the warning.
455K shares down to 4.54.
Now the low of the day breeched. 4.44
Hope is a dangerous thing around these parts....
Well, we're waiting.....
Doors song? Blood on the streets in the town of Chicago......blood on the rise it's following me.
Dead Jim...
That is 8 of 10 sessions up. Little toppy.
Looks like we live to fight another day......
Seems like we are on the same page, but what if we are both in the wrong library!!! Forget about the wrong book!
Thinking Christian Science Monitor kinda thingy!
1654.19 next line in the sand. Made it to 1654.10 so far today.
If we cross over - the gig is up.
Large position SPXU, at this point down 7%. Yikes!
No worries, don't believe we will stay up at these levels.
Amen to that! Not really religious, just really agree with ya.
NASDAQ is rolling over. Pressure is on!
Would be awsome to end up with a big shooting star today. Could happen. Let's see what the earnings are looking like. Read numerous reports, IBD, that indicate that the Q2 is going to be slim on earnings - top line decrease also.
That's why I'm using SPXU only. I can hold it for numerous sessions. I've been in and out. Made out with the last drop, adding now. This is setting up again and the drop should make it down to the low 1500's. Let's see.
It has to take out the last intra day high - 1654 - to reverse the trend, which is down. Next support if it doesn't break 1654 is 1535. That's the way I see it. Could take a number of sessions, but be patient.
I believe that game is up. Worked for a while, but now watch the 10 yr. and EU Nations interest rates.
2.7% on the 10Yr. and going up. This will kill the markets.
The market will always get it right.
Next support 1535.
Might be off by a week or so - still looking at breaking 1500 towards 1490.
We've been "off-grid" for the past 2 weeks. While I don't agree with DINU at 3000. I'm still betting on 1490 S/P in the near future.
Everyone has to admit that TruthBible was right....
UVXY is above $16.
Still keeping to the 1490 S&P story.
Enjoy all.
Off grid for the next few weeks...Sailing, diving BVI's
Yes, understood. We are in a downtrend. I've been in this posture for the last 8 trading sessions. Just saying we have much more to go. Still holding for a test, peek at 1490 on the S&P, but could make it to 1330 if everyone starts running for the exits!
The trend is now broken....lower lows and lower highs to come until next reversal. The trend is broken - no longer an uptrending market. Confirmed on many charts and inverse charts.
hope you bought into SPXU - SDS also...
making some serious $$$ at this point, but this is just gettin started...7,8,12% down from here?
Still thinking S&P 1490-1500 by mid,late June. Don't hold me to that prediction....that's a wish! In pretty large with SPXU...60% Cash, 40% shorts...This is an active trading account.
Still in the Market on other accounts- longterm 3-5yr.
Took some Ford profits off the table there.
This is the only way I use this instrument. And I trade it by numerous factors - which when boiled down are nothing but educated hunches. I've done well with UVXY this year.
Currently I'm back at 75% cash on my trading account - 25% short, SPXU mostly.
Still thinking low 1500 (S&P) or even pierce 1500 on a down day by late June. Too much bad news and fluff in this market. 2% growth is good? Top lines being reduced. They havc squeezed as much as they can from margins....so, my educated hunch is we are set up for a
pull back - A REAL ONE - going into the summer.
Just my hunch!
It's been setting up for the past few weeks. Most of the advances have be on very tepid volume. Sell pressure has been higher on the down days. Had a shooting star on the majority of US markets on Monday.
This is the beginning of a major downtrend "In my opinion".
Like I previously said.....looking for S&P around 1490 by late June.
I've been playing it that way for the past few weeks - at least setting myself up for that scenario.
And now we have minutes from the FED turning off the spigot. They are throttling the market and they know that people will be burned bad if they let the money keep flowing. They have to pull back some to keep it reasonable. The market is not rational at the moment.
Greenspan's "youthful exuberance" comment comes to mind. They need an exit stragety...maybe a few years ago when the FED changed the way they would convey news - it had all this in mind. Greenspan would not speak that much and when he did it was "Greenspeak", now with Ben - he's being very transparent. Hmmmm.....
I've been putting up - and built up a large position to Short the S&P. Let's see what happens - I think we are close to a correction - S&P at 1490 by late June.
No, actually the biggest market mover is that
Truth-blabber has switched horses!
Really? It would be worth next to nothing! $500 in total, maybe.
It has to.
I added to my SPXU position for the same reason.
Turned into a fairly large holding at 5K shares@ 26.03 cost basis.
Confident on this trade, just looking for a couple of points. Not greedy.
Betting on a missing jobs number and other data. The swings are going to get bigger here in my estimation. I think we hit the last high for a while - my thinking.
Made lunch money for at least a year - $1200. I don't eat out that often ;)
Out at 6.58 - 3K shares.
Didn't want to hold on anymore.
Still holding 4K shares of SPXU.
I think after the little BUZZ we get from the ECB rate cut, and Jobless claims, we still continue down in the S&P. Most of the juice of the rate cut is in, they just added a drop. Europe is contracting, asia is slowing because of it.
Standing pat on my positions today. Should see some movement to the upside on SPXU and UVXY.
I'm out at mid 7's
SPXU I'll ride for a little, not too greedy. At least that's what I'll keep telling myself!
RLB
Looks like I'll have to hold past Tuesday, ouch.
Nice call though, I wouldn't doubt it.
Still doesn't get me to 5% down for my sell trigger on SPXU or UVXY. Mid-week, Thursday.
There may be some of the "Sell in May" component that creates a self-fulfilling prophecy. Wednesday is May 1. There has to be a
catalyst. Lots of news this week, could be taken a few different
ways. Betting on volatility and weakness. We are too high, ALL time high on the SPX, really? 2% growth at best? .3% growth in England and they cheer cause it supposed to be -.1%? Numbers saying that China is slowing. Revenue on the companies reporting, 40% beating - usually is 60%.
Still thinking the same pattern, maybe even amplified, from the past few years.
I added today - @ 6.29. Now at 3K shares @ 6.23.
Also, added 1K SPXU - Now 3K @ 26.19.
Fairly large position for me on the downside - I maybe wrong, but my gut tells me that we are set up for a good pull back.
Last time we peaked on - couple of weeks ago, sold quick for 1.50 move on SPXU. Same deal here, sell quick if you hit a reasonable strike. Don't hold out for 8.5. I'm out mid 7's. Unless it rips to the downside.
Either way, I will be out of both by week end. Hoping to hit mid 7's by Wednesday. ECB - rate cuts? If they do, could be interpreted as it is still really bad. Word is nothing happens, which could be bad also. Have you seen the bond yields in Portugal, Spain and Italy. You have got to be kidding me! Nothing has changed.
Jobs - ADP, then April report on Friday.
Fed speech, nothing changes.
Lots of chance for volatility this week. Weak data from China, but their market is closed until Thursday? Japan is closed today.
Jobs report on Friday.
All I'm looking for is a disappointment in the GDP nubmers for tomorrow. Not so much the Q1 numbers, but a modification on the year estimate. Keeping in mind that Revenue on 40% of the companies reporting is better than expected. Usually that number is north of 60%, meaning revenue is soft.
I'm in at 6.20 - 2K shares. Also in SPXU today at 26.25 - 2K shares.
Swimming naked - stingray.
Limit order 2K@6.20. This is one those few times a year. IMO we are here and set for a correction.
Started building SPXU position again. In 1/2 of planned position.
Looking at UVXY as we approach the high on S&P - 1593.
Betting on mediocre GDP#, only 39% of companies reporting beating on the top(rev.) number. That means GDP should be down, there is not a bottom number on GDP;)