Guys,

S&P lost 6.66% today... very unlucky number.

After hours activity is very very bearish. Been reading a lot of chatter the trading houses with high speed trading computers are shorting into open big time tomorrow. So, stay out of the market for now until we hear from the Fed.
Short sellers are pushing it down to -20% for major indices.

Once the -20% barrier is broken for SP500 or DOW, you will see flash crash 2.0 again.. because the mutual funds have their stop loss there. Every pop will be sold into and circuit breakers may come in.

One good thing out of this. Oil price finally drops to $76.. this is good for the consumers.

Get some funds ready to buy some really good stocks.. every will be on sale soon.

I did yesterday (using option). It is cheap given its balance sheet. Not sure it will go down more from here.. but if it does, I'll add more.

Watch the market open.. it's going to open higher. I think people may sell into the pop and may end out flat.
The big boys will fight this out here..mutual funds vs. hedge funds. Mutual funds will try to hold the line (that -20%), bear hedge funds will attempt to drive down even more but if their numbers appears to succumb, they will cover and will drive equities higher.

Also, it's all about the meeting and appearance from the most powerful man in the world: UNCLE BEN!
Just by hearing his words, the market may calm down.



This post has been edited by danmooncake: Aug 9 2011, 09:10 PM

With that kind of cash, AAPL could buy out an entire state that is fiscally in trouble.

That's why I think AAPL is cheap as compared to other tech stock. The lower the price it goes, the cheaper its PE.

This company is continues to deliver quarter after quarter. The only drawback is people are very afraid
of Steve Jobs health.

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Added on August 10, 2011, 4:13 amAwesome reversal!

Dow 11239.47 +429.62 +3.97%
Nasdaq 2482.52 +124.83 +5.29%
S&P500 1172.56 +53.10 +4.74%

Buy signal kicks in for AAPL.. I'm net long (350'ish), re-bought back the front month calls.
AAPL now holding up Nasdaq pretty well.



This post has been edited by danmooncake: Aug 10 2011, 04:13 AM

Prophet - take some motion sickness medicine before going for second round. This isn't over yet.

This post has been edited by danmooncake: Aug 10 2011, 10:44 AM

Eventho I'm a season rider.. I need some too. Pass me two.

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Added on August 10, 2011, 11:41 amI thinking this should be the lows for now but lots of resistance above here.. baring any more bad news,
market should consolidate and slowly grind itself up again. Let's hope no more worse than expected news from Europe nor any surprise downgrade again.


This post has been edited by danmooncake: Aug 10 2011, 11:41 AM

Here's my game plan for tonight.

Futures red as expected because of the snapback rallied yesterday, not much enough to overcome the massive sell down on Monday. But I'll be watching the lows of today. If it is less than Monday, I'll buy into this pullback. It may take a couple of days to turn this train around. But, I'll have my stop at Monday lows.

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Added on August 10, 2011, 9:44 pmSo far holding up at 1140-1142 here.

Got my stop at 1139. Buy back at 1110.

Doing nothing here.. since I got my long calls already.
I'm on the bulls side now.

This post has been edited by danmooncake: Aug 10 2011, 09:44 PM

Holding steady...

Beautiful chart is forming for AAPL and TCK.

This post has been edited by danmooncake: Aug 11 2011, 01:13 AM

Yes, TCK is Teck Resources.. 20% stake owned by China (China Investment Corp).
HQ in Canada, owns a lots of mines - mostly in US, Canada and South America.
Like FCX (the bigger bro) mines Copper, Zinc, etc.

With the pull back in recent week, TCK's PE is extremely attractive.

Eventho SP500 closed the same level as Monday.. the bears power wasn't able to push below intraday low for Monday.

AAPL (pretty strong in this down market) remains elevated above $360.
If AAPL dips to $350 or below.. go get some calls. I'm still hanging on to some of mine.

When XOM (Exxon Mobil) dips below $68 briefly, AAPL becomes the most valuable company in US.

Let's see how it goes.. I think by Thurs or Friday we'll know which direction the market wants to move.

This post has been edited by danmooncake: Aug 11 2011, 08:53 AM

Sorry, I don't know Just2Trade options service.

For options trade, I'm using TD AmeriTrade and ScottTrade Options First.

After hours.. CSCO (Tech Bell weather).. beats earnings estimates (both EPS and REVENUE).

CSCO first to fall last two Qs.. are seeing positive signs ahead.

So, hopefully this would lift the market up the next trading session.

CME just made the first move to hit on gold traders.. just like Silver.
They've raised the margin requirements. Gold futures retracted .. then we got Euro issues rising again.

But, I think the major US bad news are done. It is just Europe toxic issues are expanding. Asia banks downgrading France's bank credit line.

In US, We got better than jobless expected claims tonight (395k vs 400k last week).
Below 400k is better.

CSCO beats, KOHL beats, M beats.. tech and sales looking good.
IMO, market over-reacted and oversold on bad news here.

This month (Aug) is going to be a huge consumer spending.. so next data month will much better.

US futures now tanking but I see buying opportunities here. No worry.

On my watch to buy list: AAPL, TCK, GE, VOD, CAT, TYC

Yes, US market is very liquid. Can short and long.

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Added on August 11, 2011, 10:08 pmCongrats!! Nice profits!!

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Added on August 11, 2011, 10:10 pmAdding to LVS to my buy list. Almost forgotten on this baby.
Looking ready to ramp up again.

This post has been edited by danmooncake: Aug 11 2011, 10:10 PM

Trading is totally different.

For investment (if you're talking about fundamentals, long term, turtle style) etc.. yes, almost same strategy.
But, US market got more tools and more open about their financial positions. You can dig up any US public companies balance sheet openly in the SEC filings and any finance web sites.

Major indices are showing signs of consolidation here..
Downwards pointing 50ema line is flattening - that's good sign
Prices hovering above that 50ema line - forming top side of the flag.

AAPL:
AAPL tagging 3 days of nice buy points:
352, 355, 365, resistance at 375 at the moment.
Need more volume to push up...

LVS
Lower highs forming for LVS as well: 36, 37.50, 38.80, 39.90
Pretty fast mover on this one. Seems to be performing better than Dow and SP500
I'm getting ready to buy more on pull back. Potential upside to 48/50 (Q2 earnings - beaten all estimates),
earnings from Macau and Singapore continues to excel here.



This post has been edited by danmooncake: Aug 12 2011, 12:30 AM

YES!! For the late comers! The buy confirm signal just flashes green!

The bulls are here!

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Added on August 12, 2011, 4:59 amFinal score.. bulls took back what was lost.
Dow 11143.31 +423.37 +3.95%
Nasdaq 2492.68 +111.63 +4.69%
S&P500 1172.64 +51.88 +4.63%

One more good bullish day.. need to test SP 1200.. before taking some profits.


This post has been edited by danmooncake: Aug 12 2011, 04:59 AM

I like C below $30.. so added some during Tuesday dip.. almost 52 weeks low. Same as CSCO. Glad I bought it before the earnings announcement. Going to let this run up to the $20 before taking profit. It maybe next quarter or so if the market recovers.

Nordstrom profits soars.. that's good sign for retailers. IMO, this fear of slow down in US is overly exaggerated.
Consumers are still spending there.

We shall see more macro data report this evening.



This post has been edited by danmooncake: Aug 12 2011, 12:06 PM

Retail Sales data is out: UP 0.5% (July) vs 0.3% (June).
This number will add to the GDP for next Q.

Told ya, US consumers aren't slowing down..infact they're begining to pick up in July and
August will be EVEN better!

Going to run into resistance soon.. momentum slowing down.
Watching that SP 1200 level. Set trailing stops for high beta stocks.

Good morning Z,

Dow 11269.02 +125.71 +1.13%
Nasdaq 2507.98 +15.30 +0.61%
S&P500 1178.81 +6.17 +0.53%

We got pretty good bounce since Monday low. We're not back to the level before S&P downgrade yet.
Going to run into resistance level between here and SP1200.

Yes, LVS made a pretty good run from the low of 36 on Monday. $36 scored the double bottom low.
So, one got to take the opportunity to buy. LVS @ $44, it is still ok to buy as long you believe market will get back above
the SP 1250 level by year end. LVS should be at $50+ by now if not for the market downturn just right after its impressive earnings.

Tonight big news is GOOG buying MMI (Motorola) to step up the competition in the phone business.

I think right now, it has little effect on AAPL but I think GOOG realizes that they can't make much money by not
owning any hardware. AAPL has a HUGE profit margin by owning the hardware and software.

The questions will remain later what happens to other hardware maker like Samsung, HTC, LG, etc

Also, NOK and RIMM are in serious trouble. Perhaps MSFT will buy one of them.

This post has been edited by danmooncake: Aug 15 2011, 08:53 PM