oh boy, futures green.
fake green?

Could be.. I think it's going to stay around here until Friday jobs report.

Decided to take a bite and get into AAPL trade again. Sold 495 PUTs. $500 looks like a good floor for it even with the market selling off, AAPL holding here.

ya, the 500 support is damn strong. now they talk again the apple tv thing...sounded pretty good via services instead of just a boring hardware. brilliant. however, i'm still looking forward to your 1725 ground...



This post has been edited by yok70: Feb 4 2014, 11:18 PM

Let see how Friday goes.. if Friday job numbers aren't good, we may get down to 1725 pretty quick but tonight, the shorts have to cover some, therefore we're higher and green but I don't expect it can reclaim back 1765-1770 (prior support, now resistance) tonight.

poor reviews on the global and asian markets. will there be a dropping bomb comes friday's non farm payroll report?
i am clearing some stuffs now ...

Yes, Friday number is important. If bad, we'll likely see another leg down.

So far we got:

Mon evening: Big Red day
Tue evening: small bounce, green - short covering
Wed evening: Will open red (but ADP numbers slightly better than expected)

Thu evening: red/green?
Fri: This one is important here..

The floor for SP500 at 1740 must hold by Friday otherwise.. whoosh!

serms like your sp 1725 a high possibility? just another 1-2% drop will be there.
the first hour saw volatile index at dows. it turns rednd green within minutes, by over 40 point. wow ...

This post has been edited by mikehwy: Feb 6 2014, 05:23 PM

Trading is going to choppy during these time.

1725 would be the initial target but not guarantee (daily)

On the (40) weekly, 1700 would be the support (the big funds will step in and buy here).
We're still at around 5% correction only.

If you're holding long stocks higher than here, just hold 'em or
sell your covered calls to reduce your average price..

HK market also similar graph, it seems another -5% to get into the strong support area.

nah. no money to lose. so dangerous better wait a bit while holding my breathe ...heh heh

It wants to rally back up... market trying to find a reason, initial claims are good.

SP500 1765-1770 resistance area.

SP500 - 1773 - close above the resistance.

Wow.. what a surprise. I guess nobody wants to get short before Friday report.

Don.t u think the numbers are pretty ok despite the severe storms ? ......

Or the storms can actually derail US economy to a recession aka slow economy ?

let the market rally for another few weeks!!!! HUAT AH!!!

i think tonite US employment data is good. shd b good as seen in yday ecb and boe decision to hold the rates. v low and stable inflation in europe. all these r good indications at least for the weeks to come. am i right?

With the reasonable inflation, near zero interest rate(no OPR hike) and continuation of QE till Q1/Q2 2015,
I believed the bull market will remain in the lead with consumer confidence/housing/employment/construction/
manufacturing/purchasing/GDP/jobless claims ..etc indicators getting better and better.. For me,
any discount above 7% in stock price will be a good bargain hunting .. CLSA Feng Shui 2014

wow. using feng shui also for market 'analysis'
giving us a wider perspective right? yes, me too waiting for post cny discount..i always bring along my wallet to gambling halls...lol

This post has been edited by mikehwy: Feb 7 2014, 05:10 PM

Opps.. the job numbers came in less than expected.

Nonfarm - 113k vs 181k
UE rate: 6.6 vs 6.7
Priv Payrolls: 142k vs 182k

Dow futures immediately dropped 100 pts from earlier positive numbers.

Of course, they'll blame it on the weather.

weather and below forecast ..means no immediate tapering !
future looks green now. quite green.

This post has been edited by mikehwy: Feb 7 2014, 10:22 PM

Mu haha... so right.. bad news for economy is good news for market.

The market is addicted to QE..