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Happy Thanksgiving to you too, Chuck.
My UGAZ trades have not disappointed me yet.
Pull back on UNG/UGAZ seems to be done (imho ), loaded the truck with UGAZ.... hope they don't shoot the tires, lol.
Thanks for the update Bilss, I sold UGAZ near the top and have a boxed position now, waiting for a pull back to reload for more upside.
Bliss: thanks for the feed back, did good today with ugaz.
I think natural gas has made bottom. Bliss, Deva : do you have an opinion / position, I think it could be a very good trade, medium to long term, with any of its derivitives eg, ung, ugaz, boil. I have been trading the pair ugaz/dgaz with upward biass.
If more than half the traders on this board are long into this rally then we are in a new BM. But i am with you Chuck right now.
Good call and a nice trade.
Nobody taking the short side? I get the feeling we are whistling by the the graveyard.
switched from tna ( from yesterday ) to tza this morning.
Oh it felt good to switch from long to short this morning. Scalping on both sides without much convction.
So far it has been an orderly 10% decline from highs , could be a bottom right here.
am long and short, could be wild bipolar trading in a shortened week.
I was thinking of a 10% correction, 1210?
Silver Surfer:
In NYC I pay 45% of my income in taxes ( thats' without property, sales and other indirect taxes) so I am no friend of Gov. I know for a very long time that we have lost jobs to automation - tech, foreign competitiion, legal cost and malinvestment caused by both wall st & Gov. If we seriously trim, medical, gov ( at all levels ) and defense we will end up a little above Brazil.
Silver Surfer:
I have watched the puffing up and hollowing out of US economy over decades- before it was fashionable to talk about. So now I wonder, if we can't contiue with a gradual decline in our standard of living as long as Dr. Bernanke keeps a light hand on that reserve currency printing press.
There are "fifty shadess of grey" between those two choices so D.D. may turn out to be right tomorrow morning.
A little pump before the holiday followed by....
'Monday reversal " on the way, let's hope a rally upto FB ipo, LOL
"Thursday reversal" extends into after hours. I think market sells of into Monday. jmho
Market undertow, i am down more than up yesterday.
Good call Bliss:
so when is the reversal , today or Thursday? lol
Hey tech: are you giving any weight to the next DJI milestone 13 K?
How far is 200 day ma for DOW? About 11000? We will get there Idon't know when.
Hey Chuck: We need to combine a little cunning with T/A, like how can I screw most people most of the time, LOL. Bought TNA at 70.04
Why every one is not totally convinced that market is a pozi on a grand scale?
Friday, I could not believe my eyes when everything started climbing right after the opening bell!
It gives pretence of going up in the face of a disaster of diabolical proprtions and then C R A P...
Bad news is piled to the roof. just waiting for the spark, hand crafted in The Wall Street.
TNA turned positive, to the moon...
T/A ends where manipulation starts.
I just bought two house in CA, first one was by a small bank in CA second was assigned to JPM. Banks are stepping up to the plate.
Banks are giving third degree to borrowers and its' not " junky mortgages" when prices are down 45%.
Hey Bliss:
AA has been recently downgraded by ubs and by jpm today, ge is also being pulled back. imho Monday we might see some melt up, I am long.
Peter I appreciate every board members personal opinion and experience. What I dont is blind posting of stale, diverse internet info without proper context &/ perespective.
As for controlling emotions, we are mere humans and suffer from what I call, emotional inertia ( late to change one's mind in face of mounting evidence to the contrary ). If we were any better we would be working for GS lol.
" When I write this stuff, it is to counter-balance my own bearish tendencies. I don't want to fall into the bearish crap-trap that I got caught up in mid-July. "
I am with you on that Ted.
Ted what I meant to convey was that you should also trade with your covictions; bear tease, buy the dip etc.
What made late Airdale great was that not only he shared his vision but also his trades along that vision.
Ted: instead of tauntintg the shorts why not simply buy every major dip with a sensible position? How many dips we had since March 6 ,09?
I am following my own advice with an unhedged long position in AA GE and AIB from Friday afternoon. I have a feeling market is not going to fold before a rally in GE and AA; we will see in FOT.
Thanks for the reply I am in NYC and watch all those empty shell condos, property prices have not budged here much but it will take time. And time will test feds ability to reflate.
I saw a TV report how Maine's economy is suffering as there are not enough investment bankers around to chomp all the lobsters. Falling tide grounds a lot of boats.
With DOW flirting 10 K may be.
$SPX 1076 not very sexy number.
aig, fnm, fre, c all moving up daily in DD but not ge. I wonder which one is bigger crap.
I took a big long position in GE,AA,AIB& UYG yesterday, sold it this morning for some crumbs. I think an end of month up move is still due Monday.I will reload some longs end of day for Monday.
" The moral hazard has been CREATED by the FED. Their actions have encouraged reckless risk-taking by Wall Street at the expense of Main Street. ".
+1
Fed and wall street believe in trickle down economics. " Let the rest eat crumbs ".
A day like what you describe, Sent, also is a signal that serious down move has begun.
Hey Golfin: we know there is a lot of disinformation in the market but how do you see economy around your neck of the world. TIA
GL& GT.
Don't forget about the end of month rally, I am counting on.
My SDS turned +