2nd straight week down, and now in week 3 downturn mode.

what's next?

---

Added on May 17, 2010, 11:30 pmMarket fall on weak volume. This is a typical side way market seems like.

This post has been edited by zamans98: May 17 2010, 11:30 PM

There's always a 4th..week (see Jan to Feb). We're close to the bottom (if this uptrend doesn't break below the 200MA)
If you're long, be patient. Short term fundamentals in US hasn't changed.

If we do break below 200MA, watch out.. become a BEAR to ride this out.
Just be prepared.

I played short for TZA and SDS..

Will only sell tomorrow onwards..

Playing shorts is the new long..

Longs - be patient, entry price will be cheaper soon.

lol short is the new long.......HMMMM!! i m sure some guys will wish it that way LOL!!

I plan to short until next week..

BP now is just a $1 away from 52 weeks low.

it may break it before coming back..

Now that Crude Oil has dropped to $69.. bear talks are now hitting $60 before bouncing.
Looks like my next purchase of UCO will be much lower.

This post has been edited by danmooncake: May 18 2010, 12:48 AM

oil price drops like crazy.. something will follow...

---

Added on May 18, 2010, 12:52 amI see 9500 as next middle term support point..

This post has been edited by epalbee3: May 18 2010, 12:52 AM

Closing update:
Dow 10626.88 +6.72 +0.06%
Nasdaq 2354.23 +7.38 0.31%
S&P 500 1136.97 +1.29 +0.11%


Got out of short (SDS) with small profit. Buyers came back in..at close.

Market should go up a few points tonight and will try to short again later.


This post has been edited by danmooncake: May 18 2010, 04:41 AM

roller coaster again..

Looking at the futures now, looks like market may be GOING UP more than a few points but I have a bad feeling this is gonna be short lived.

Yes, same feeling here.. don't go all in. The head fake last week was a bull trap.

Tonight, I'm letting the long ride up and taking some off if it has reached my average price, and moving some to cash.

If by Wednesday close or Thursday pre-market doesn't look good, I'm ready to short again.

Gotta to watch the Euro currency now.

Update:
Guys also watch Crude Oil. It has bounced back up ($72). UCO still looks attractive here (around $9.50 to $10).
I 'm hoping Oil to bounce back to above $80 by end of August (if the Greece problem is over by then), UCO could be around $14-$15.

Update 9:53pm
Up she goes... we're going to see 3 digits soon.
But, we need to close above 10700 and SPX above 1150 to make this worthwhile.

This post has been edited by danmooncake: May 18 2010, 09:53 PM

Just login and see GREEN but not strong, like a sotong.
Short is the new LONG, hmmmm..

LVS looks strong. This thing does not want to go down below $21 unless the Dow dives below 10K.
Imo, next dip, this is a must BUY.

This post has been edited by danmooncake: May 18 2010, 10:23 PM

yo...i keep thinking today is a weekend :/ was wondering y ppl toking about the market today....alamak dem blur!

wooohhoooo happy yday manage to grab some.....haha today can throw de!

This post has been edited by mIssfROGY: May 18 2010, 10:30 PM

At a glance, I thought your nick is MissOrgy

aye to that. Its a "MUST" buy.

Seems the price still like sotong, mostly nearing day low again.

omgggg
need to rethink a new nick de.........what do you think of simplelady