Undersold is key here. Citi stock has held up well in the face of so much underhang from Timothy “TaxCheat” Geithner’s shares.

The problem is that they still have a lot of selling pressure they have to exert before the stock can turn around, so C will stay oversold for the next 4-6 months.

C today is testing 3 months low. Fcukers sitting at Treasury should now sell everything.

Closing update

Dow 10060.06 +19.96 +0.20%
Nasdaq 2141.54 +17.78 +0.84%
S&P500 1055.33 +3.46 +0.33%

We got bad data at the beginning, sending all indexes to monthly lows,
then, once it touched SP 1040, bulls came in and buy up all the way into the close despite negative data.
Crazy huh?

Anyway, took a long position in TNA @ 32, and finally jumped out from TZA @ 41.
This ride up won't be a long one. I'll probably re-short again later.

Didn't buy any C yet today despite hitting 3.64 low, and at close, it looks as if C didn't participate in the rally at all.

This post has been edited by danmooncake: Aug 26 2010, 05:30 AM

momo in play now..
last night was OPEX day right?
usually got unusual thing during OPEX.
momo will defend the price.

No, OPEX was last week. Just that the technicals indicated it was bottom and the trading computers says BUY. That's it.
But, I don't think it will last. We got unemployment claims and GDP report to go. Let see how it will fair out.

wait, can get it today or Friday, GDP + Unemployment news.

hopefully maybe can get more C at <3.60, that sound like a steal with current forex )
http://www.cnbc.com/id/38850188?__source=y...text|&par=yahoo

The initial claims came in at 473k versus 500k last week. Therefore, much better than last week.
Futures going up!

Dell ups the bid to 24.30 for 3PAR, that's 30c higher the HPQ. 3PAR board says they've accepted it.
Hopefully, HPQ will give this up and don't enter into the bidding war.

This post has been edited by danmooncake: Aug 26 2010, 08:52 PM

Futures +2 only, compare with +12 earlier

I'm seeing +39 for Dow (real time).

Maybe mine not real time. But jz now I reload...+54

red now..

Yippee!.. It can't break the barrier at 1060.
Loaded up some more TZA, and sold off TNA.

Tomorrow GDP, let see if it can break below 1040 again.

The Hindenburg Omen IS Scary, but So Are the Fundamentals


After tumbling below 10,000 yet again Wednesday morning, the Dow rebounded to close above that psychologically important level and was slightly higher early Thursday. Still, fear in the market is being expressed by the continued rally in Treasuries and widespread chatter about an ominous sounding technical indicator: The Hindenburg Omen.

The Hindenburg Omen has a roughly 25% accuracy rate in predicting big market upheaval since 1987, meaning it's far from infallible but isn't inconsequential either. The indicator's creator, mathematician Jim Miekka, compares the Hindenburg Omen to a funnel cloud that precedes a tornado in a recent interview with The WSJ. "It doesn't mean [the market's] going to crash, but it's a high probability," he said.

Complex and esoteric even in the world of technical indicators, the Hindenburg Omen is triggered when the following occurs, Zero Hedge reports:

* -- The daily number of NYSE new 52-week highs and the daily number of new 52-week lows must both be greater than 2.2% of total NYSE issues traded that day.
* -- The NYSE's 10-week moving average is rising.
* -- The McClellan Oscillator (a technical measure of "overbought" vs. "oversold" conditions) is negative on that same day.
* -- New 52-week highs cannot be more than twice the new 52-week lows. This condition is absolutely mandatory.

These criteria have been hit twice since Aug. 12, prompting Miekka to get out of the market entirely, The WSJ reports. Judging by the recent market action, many others are following suit -- or at least moving in the same direction.

Yeah, everyone is talking about this. The problem is, the more people expect this, the less likely it will happen.
For the event happen, sometimes, it has to come as a surprise like a black swan, then it will take everyone surprise and bam! There you go.

How about Dow 5000? Charles Nenner says this will be in two years.

9,972.79 (-87.27 )

falling down....10,000 broken.....

Closing update:

Dow 9985.81 -74.25 -0.74%
Nasdaq 2118.69 -22.85 -1.07%
S&P500 1047.22 -8.11 -0.77%

Yup, the bears are still in control! We now know the bulls got head fake for yesterday rally.
Tomorrow is the big GDP number.. Either it will be good or we will crash to test July lows.
Get ready!

This post has been edited by danmooncake: Aug 27 2010, 05:48 AM

a little green today as at now :

GDP 1.6%

Frak! I was hoping it was slightly less than that, and we can re-test 1040 again.
I got out from my TZA now while still in profit a bit otherwise Kena squeeze!
Will try again at higher level. Oil already moving back up to $73.

Update:
Took another look at PAR again. Damn HPQ up its bid to $27, and DELL matches again.
Whoa! This bidding war.. is crazy for this puny company.

Gotta watch for Ben speech tonight. It is going to be a big mover. Last time, he mentioned "unusual uncertainty",
the market tanks big time and hasn't recover it.

Update 9:30pm
HPQ top it again, with $30 bid for PAR. This is absolutely crazy!! PAR is like hot ebay item!

This post has been edited by danmooncake: Aug 27 2010, 09:29 PM

PAR is absolutely crazy. Didn't even touched it. I thought DELL offer was accepted by PAR Board. Now what?

even 200 shares is good for USD1000!!!

Index green +50 points, and my portfolio is not good green. Yesterday the index was -10points, it shed more $$ out of my account than green +50!

Man... 1040.. now going nip back some here. Absolutely crazy market here.