IMO, I see nothing wrong being ms.Orgy..
Stocks Orgy.. that is.

Resistance at SPX 1150 and Dow 10700 (Jan highs) still pretty strong.
Sellers are selling into any kind of strength here.

Not high enough for short, not low enough to go long. Not enough momentum to predict either direction.
A bit difficult to trade here. Holding pattern for now. Let see who wins by the end of the day.

yup, hard to trade. Look at your new favourita, UCO, hit low 981 and now bounced back nearing 990.
Q for C last nite, check, no hit. 3.75. Almost there but not there yet.

Last night paper profit $200, open market paper loss $200, now paper break-even.. shorting TZA and SDS.. hope the market dip...

any tip to buy at what price?

lol soooo OBSCENEEEEEE!

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Added on May 18, 2010, 11:59 pmXXXXXXXXXXXX lar

This post has been edited by mIssfROGY: May 18 2010, 11:59 PM

That 'X' - multiple times... wonderful stock ticker for conviction 'orgy' buy!

Anyway, look at the market.. bulls gave up for now. Bears roaming around.
It certainly looks like being short is the new long here.

keng leh....now XXXX goes well wif my new nick

Yesterday from Deep Red ending Light Green.....so today Green ending Red? WOoohooo!!
Time to sleep de.....tmr see red ocean!

Bull balls got caught again by bear's hand. Everyday down. Not yet confirmed a BEAR in making, still pulling each others balls.

UCO in RED, SDS in Green.

Oh darn..I'm slightly under water now with UCO. Need 9.86 to break even.
I think crude should go back up above 70. I'm going hold for a while since we're already at lows.

Should have kept my SDS. Oh well, can't win 'em all.

Update 1:45am
Folks, bulltrap part two here. I've jumped to VXX @ 27 to ride this down a bit.

Update 2:30am
Goldman Sachs said the upcoming Financial Regulations going to take up to 20% hit all banks profits if implemented!! If so, time to get out or short financials folks!

Update 3:20am
Took some profit in VXX 29.10.

Closing update:
Dow 10510.95 -114.88 -1.08%
Nasdaq 2317.26 -36.97 -1.57%
S&P 500 1120.80 -16.14 -1.42%

Another day - another bull trap here. Bulls got no more love anymore. We are getting very close to the 200MA here and if this blows thru another trading session or so.. a big trap door will open. We definitely going to drop below 10K, perhaps with a leg down to that fateful 'glitch' day on Dow 9800 or S&P 1065/1070.

Be very careful and stay cautious here.. Try stay in cash as much as you can (for longs).
Shorts - once the trap door is opened, you know what to do.

This post has been edited by danmooncake: May 19 2010, 05:15 AM

Decent paper profit for shorting SDS and TZA.. will sell off SDS to lock in profit and let TZA to ride..

Hope tonight CI will dip also.. already put a short there..

Awesome! u're playing VXX too? I've been getting VIX Jun 15 '10 32.5 Calls, pretty amazing return man! 100% in a day!

This week is options expiration day, choppy week ahead!

Yes, those calls options are worth quite a bit if we go downhill. Heck,even this Friday in-money calls are doubling already. Crazy volatility there.

I'm sure the bulls may want to pump it back up but the big boys in control want to push this down to 200 MA and lower to shake off the weak hands.

just passed through after market hours.. Not managed to sell SDS now..
Have ride tonight and take risk. Paper profit at about $250 now..

what do you think about tonight market?
I cannot buy VXX or VIX.. any broker to buy it?
Why option expiry will tumble market?

You can buy VXX just like an ETF or stock during trading hours.
It has indirect play for VIX.
http://www.ipathetn.com/VXX-overview.jsp

Yeah, VXX is an ETF.

I think any broker allows option trading right? As long as you subsribe for the service no?

Yes, if you've an approved margin account for option with your broker, you can trade options.
Be careful with playing with options. It is highly volatile and lose everything by option expiration if you're not careful.
It can be very profitable too. I usually use it during extreme bear or bull market or if the price of the underlying stock is too high (eg. like AAPL or GOOG) etc.

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Added on May 19, 2010, 7:51 pmLooks like another downhill Wednesday night..

Continue to ride the VXX tonight till we get to SPX 1100, then I'll buy some (meaning going long).

Update 9:50pm
Looks like we got a small bounce back from the early drop but VIX still remains high. I'm still keeping my VXX unless it drops to 27.


This post has been edited by danmooncake: May 19 2010, 09:51 PM

I think we will close -200 today..

all bear in.. may sell one tonight...

may also put one short for CI tomorrow..

wow, bear rulez. Bulls are losing their balls.

Man, everyday down how leh?

I'm still on the sideline. Don't know how to capitalize on this volatility. Hope it won't be a bear market as I really hate shorting. Comon bulls!

hard to say, it depends on your account/margin. I'm still BULL for short-term. It is just a spills over of PIIGS issues.

Seems like SDS is not as bear as TZA..

TZA raised faster during bear...

I am bear until below 10k..

hope to get > 200 points today..