I'm looking for a short term bottom at around 1070 this time. I'm buying the dips, sell again if it reaches 1100 to 1105.
Tight trading range again.

Update: 11:55pm
Have to bail out of my AAPL July 270 calls for now. Waiting for lower price to get back in.
This market is definitely rolling over. From the looks of it, SP 1070 may not hold till tomorrow.
SP 1040-1050 may be the next target.

Closing update
Dow 10152.80 -145.64 -1.41%
Nasdaq 2217.42 -36.81 -1.63%
S&P500  1073.69 -18.35 -1.68%

SP 1070 managed to hold today, therefore I nibble some here. Got back some AAPL 270 calls at much cheaper price.
Tomorrow is another story. Just 30 more points to triple bottom at 1040 or we can open the hell hole.

This post has been edited by danmooncake: Jun 25 2010, 04:36 AM

tnoite will crash?..why last nite sudden free fall ?

Not crash but most likely retest lows.
Q1 final GDP looks not too good: 2.7% instead of 3%.

But, US FinReg came thru. Not too bad, banks stocks may rise given all bad stuff taken into account.

This post has been edited by danmooncake: Jun 25 2010, 09:03 PM

tonight may be another dip again.. good news does not able to push.

Dan,

Are u picking more C? They suppose to Reverse Split before month end. This time it looks serious.

I bought 2,500 @ 3.85 just now. Hope it will reach 40$

Yes, washed out at 4.05 on Monday, re-bought back at 3.80 yesterday.
Not sure when.. but C is going to be a long term holding here.

By the way, are you still holding STEC?
Looks like it is about to break out.

This post has been edited by danmooncake: Jun 26 2010, 12:47 AM

Yup. My holdings are: STEC, DRYS (very huge deficit), CENX, AA, C and little GS.

LVS in stock @ 26 x 300. Sell Q @ 26.35 and above.

Well, looks like short term bottom holding. SPX bounced off 1070..
We're going back up.

I'm jumping back into ERX, TNA. Added a bit more TCK.

Closing update
Dow 10143.81 -8.99 -0.09%
Nasdaq 2223.48 +6.06 +0.27%
S&P500 1076.76 +3.07 +0.29%

A mixed closed tonight. We got worse than expected 1st Qtr final GDP, but Q1 final sales is up 0.1 (0.8 vs. 0.7) and a slightly better consumer confidence (76 vs. 75.5).

Pretty much a losing week but the close is marginally better due to financials. Next week, hopefully we can retest 1130 ceiling again into earnings and go higher before the big fall. I'm looking into sell into this rally and short big time if we get to 1150 within the next two to three weeks.

This post has been edited by danmooncake: Jun 29 2010, 05:26 AM

When the good news (obama's wallstreet reform) cannot move the index up, that means the market fundamental is weak.
I am looking into below S&P 1000/DOW 9500.

If the swing is always there, we can use the time to beat the market.. Just hold somewhere here and there and wait to reap..

US market going sideways until job reports this Friday (which expected to be bad).

Got to to watch if we can hold support at 1070 or drop to next trap door again at 1040.
Short term - we're have a very small bull flag (60 mins chart on SPX) since last Friday. Maybe we can
take this a bit higher before the next big short.

Closing update
Dow 10138.52 -5.29 -0.05%
Nasdaq 2220.65 -2.83 -0.13%
S&P500 1074.57 -2.19 -0.20%

Still holding support here at 1070...volume declining but direction still south bound here.
The big one could be coming soon. Be prepare!




This post has been edited by danmooncake: Jun 29 2010, 05:25 AM

it is going sideways now.. pending for direction.

even consumer confidence raises, index small red.

thus, i guess a bad news will drive the market south.

Correct, market sentiments are still very weak. I am thinking stocks may go up in anticipation for the big job report this Friday and then by the 2nd week (after the July 4th holiday in US), earnings may drive from here. A lot of people will be anticipating to SELL into earnings here.

Got to remain cautious here..

This post has been edited by danmooncake: Jun 29 2010, 09:12 AM

Hey guyss...how's it going? Haha. Have been on hiatus for a while. Caught some Aug 270 AAPL calls yesterday but have a feeling AAPL will drop tonight further...so more picking up I guess?

Look's like tonight might be a down night! Brace yourselves peeps!

PS: Zamans, I have DRYS as well. All the drilling ban talk and BDI at such poor levels really raping DryBulkers big time! Go LONGGGGGGGGGGG I guess.

Woopsie.. market is going to tank more tonight. Euro debt issue came back up, Dow going to see below 10K and SP may re-test 1040 again.

moving downwards, may break 10k today.. if further, see 9500 soon..

Renminbi raise is good for US, but not for China.

long term see 9000..

1000 points to go.. let see how fast we can get there.

just be patient and don't use margin..

we have time to beat them..

---

Added on June 29, 2010, 10:04 pmseems like really crash 250 points.. wait.. seeing this direction, it can go towards 9500..

just be patient..

---

Added on June 29, 2010, 11:19 pmgot a support level at 9900..

This post has been edited by epalbee3: Jun 29 2010, 11:19 PM

Not too concern about Dow now, still higher than June 8th low of 9726

SP bouncing off 1043.. hopefully, it can close above 1045 otherwise it
will setup for more fall by Friday job numbers which doesn't leave much room for going short at this level.

Now, TZA up 7.5%, TYP up 8.5%, VXX up 6.5%

This post has been edited by danmooncake: Jun 29 2010, 11:29 PM

Waiting for it to dip at least 9500.. hold a lot of short now..

wow, SHORT is the new long?

100% on LONG, buy on DIPS. Average.

LVS waiting at 20$ will be coming soon.