fully shorted TZA now..

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Added on June 8, 2010, 11:19 pmnothing can help.. because NASDAQ leads the dip..

Pushing DOW will not help...

small investors pushing down everything.. momo will lose..

This post has been edited by epalbee3: Jun 8 2010, 11:19 PM

momo is not to the upside.. momo is building to the downside.

Bears want to see the next leg down. Let's go there.

Market is see-saw, up down up down in a tight range.

Yes, getting tighter.. it is going to bounce up or big drop to the down side soon.

Got me some AAPL calls @ 248 with tight stop to play.

tiger rules...lol everytime tiger comes there goes the market..
hibernate till then la....yawnnn...

Ma'am, I'm afraid they're bears.. not tiger. Grizzly, Polars and Pandas.. they're huge, ferocious and hungry.

OPsyyy.....

I'm got kicked out of AAPL calls. Got scratched by bears.. damn it..

Update 2:50am
Out of shorts again.. Waiting at sidelines, watching AAPL again.

Update 3:30am
Buyers came back in.. SP blasting to 1060.. rebought back some AAPL calls @~245

Closing update:
Dow 9939.98 +123.49 +1.26%
Nasdaq 2170.57 -3.33 -0.15%
S&P 500 1062.00 +11.53 +1.10%

Nasdaq still red but this mini rally at close is a good sign. The lows hold and we're heading back up..

This post has been edited by danmooncake: Jun 9 2010, 06:12 AM

The last hour trading pushed about 100 up.
My position will be locked if it goes above 10k.

However, I guess the trend is down again tomorrow.
(perhaps it is the small rally that should accompanied by another bigger dip)

Just my guess..

My guess is DOW will be 9.5k. by end of the week..

Any opinion will be welcome.

9.5k by the end of the week is somewhat possible I guess if more Euro crap happens & bad economic data on Thurs & Friday.

I guess for now the trade is between 1040-1105 for the S&P.

I've been trading VIX calls & AAPL calls, it has been pretty good so far

Going long tonight. Like to see us all the way up to 1100 again by tomorrow.

In TNA, ERX and riding AAPL calls.a

Also watch Uncle Ben testifying tonight! The market most important guy!

This post has been edited by danmooncake: Jun 9 2010, 10:41 PM

Uncle Ben earns his crust:

"Helping support the market after a week of shaky trading, Bernanke said Wednesday that he expects the U.S. economy to grow between 3% to 4% this year, as consumer spending and business investment make up for fading government stimulus.

In a hearing before the House Budget Committee, Bernanke said it appears as though the recovery has made an "important transition" from being supported by government spending to being lifted by stronger private demand. The central banker also said he was encouraged by the European response to the debt crisis.

Bernanke is also scheduled to speak at an employment conference as the markets close, and the Fed will release its Beige Book, a closely watched survey of economic conditions, at 2 p.m. EDT. "

WSJ

Closing update
Dow 9899.25 -40.73 -0.41%
Nasdaq 2158.85 -11.72 -0.54%
S&P 500 1055.69 -6.31 -0.59%

Market turns south again after reaching SP 1077. Can't even touch 1080.

Trailing stops got me out - small profits only :
TNA 5%
ERX 4%

AAPL calls 0% - nothing here.. hedge fund selling 'em gotta wait to make another dive, probably around 230'ish

Jump into bear TZA @ 7.7 as the market dives.

BP (aka. Big Problem now) drops to 52weeks low at $29, took down the entire energy sector.

Heck, i think we need total destruction here to another leg down before this market can crawl itself out of this
zombie state.

This post has been edited by danmooncake: Jun 10 2010, 05:16 AM

Ben's word is nothing physical.

so, momo took the chance to push high the price and run away. so, stock dip at the end. Anyway, the dip strength is not very big.

may be tonight we see another small rally then dip.

may be we can see 9700 soon tonight..? If so, we should see <9500 on Friday? need another bad news for a real dip..

I am still short in full..

Could be.. just two more trading sessions to go before the weekend. The funds are selling hard even strong stocks like AAPL, they want to take the market down and BP rumors that it will likely bankrupt is just an excuse here. They getting ready for the big fall.

If we break through SP 1040, all SELL signals will fire off.
At the bottom, we will likely get a strong BUY signal and fire back up. This could good opportunity here.

This post has been edited by danmooncake: Jun 10 2010, 08:46 AM

Been 2 weeks, but still the daily GREEN DOW doesn't mean it will end in GREEN.

X look attractive, so does HL, TCK.

BP will be charged in US and may called for bankruptcy.

Everything is cheap.. yes, market may open green, turn red, or open red, turn green.
Very choppy and volatile until all these European mess get cleaned up.

All the charts for TCK, HL and X are ugly now. X is the worst. You may want hold off buying for another week of so. Materials and commodities stocks tend to get hammered quicker.

The pretty one is LVS. Not sure if it can hang on.. MGM already dropping off.

It will be interesting to see if the bears can make it drop below SP 1040 this week. If not, it will be one heck on trading opportunity again in this tight channel.

Anyway, I've looking at C again, looks like it is leveling off here (3.6 ~ 3.9).

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Added on June 10, 2010, 8:29 pmGood evening,

Pre-market Futures looking better again for Dow and SP but could be another head fake today. Lots of conservative
funds are selling into any kind of rally to raise cash. Gotta to see if SP can overcome the flash crash low
and stay above 1070.

BP climbing back from oversold condition - nice 10% pop in premarket but should stay away from this thing until
Gulf spill has some kind of resolution.

Update 10:00pm:
Nice pop! Got stopped out immediately out of TZA. Riding the longs again. Let see if we can see more gains there.
Like to see SP 1085 and hold to close.


This post has been edited by danmooncake: Jun 10 2010, 10:03 PM

BP got support from British Pension firm, support from 52 weeks low.

The snapback won't last. BP will be sold off again.
I'm tempted to short BP it get rally back to 35/36.

will we get red today?