yok, take look at the close for SP500.. exactly at 1930. just -80 pts to go...
We need two more days like this...

The UE number came in just as expected in the ball park range..
so not too hot for fear of interest rates rising now, not too cool for Fed to stop tapering.

I think market will smooth out here for option expiration day. Watch out for bulls to come back because
of short covering. SP500 may attempt take back the 50ma.

Waah... bears are out for real this time.

SP500 1920 to watch here tonight, if cannot hold another leg down below 1900 .. next week.

Yup! Bears won this week...infact this month. July is the new sell-in-May !

Be careful here.. time to place PUT is when market opens..spiked up to 1935.
The bears have covered at 1916.. now moving it back up to 1930.

The doji closing could be reversal..

Despite lots temporal bears attack, bulls still got lots of money on sidelines here. Feds are on their side.

This post has been edited by danmooncake: Aug 2 2014, 02:13 AM

Bears taking a small break. A lot of them took the opportunity to cover and cash out the PUTs when SP500 drops to 1916..

The job numbers weren't that good and not bad either.. so it is neutral.
-5 pts from previous day is ok.

1916 is the intraday low on Friday evening. Bears have to break that low or if bulls push above 1930, then
bears got no more power.

Let's watch next week.. if 1916 breaks, then 1900.. and once 1900 breaks, it's going to be swoosh to 1850/60s.

Lot of bulls are waiting at 1860 level (that 200ma)

This post has been edited by danmooncake: Aug 2 2014, 08:08 PM

The bulls are still very strong.. so far we got only 3% correction from the top.

At 1900, it will be 5%
At 1850, only 7%.
At 1800, it will be 10%. Between 1800-1850 will be good buy for mid term investors.

I still have MB Trading account. No problem to transfer fund for me.

I think Malaysian is allowed to open account but must have US address now. I think 2-3 years ago, there must be ruling that foreigners must show US address or tougher regulations. That's why some brokerage refuses to accept foreign customers.

This post has been edited by danmooncake: Aug 4 2014, 10:15 PM

Don't think this is over yet...

Waiting for another leg down here.

I can see some red ink now...

Need to break down below 1920 to see more blood.

Bulls just came back after mid-day trade... watch out!

Got some bears power at market open tonight.
Just watch that line at 1920.. see if bears have enough power to break it down.

That gap down could also mean bulls can come and fill 'em later too.

Tug of war now..

1913 low of the day... but it won't be long for bears to take out another -13 pts..
Then, 18xx's will be here. Get cash READY!!!

If happens (Ebola outbreak in US), another -100pts to -200pts for SP500.

Right now, it needs to hold 1915 to close.. otherwise tomorrow, more blood.

A lot of shorts are lining up once it breaks 1900... waterfall pattern.

Hey gang!

Bulls came in at 1911... the 100ma line in the sand.
So, that's where the front line bulls army were hiding.

Better set your SHORT stop at 1930 if you're still short.

Russia says "No more chickens from USA...." so, the retaliatory sanctions were not that bad.


Took a quick look at the gaming/casinos stocks today after saw an email alert
that LVS price drop below 70..flashes across my screen.

Seems like all Macau gaming stocks got whacked... MPEL, MGM, WYNN.
Could be buy opportunity here.

This post has been edited by danmooncake: Aug 7 2014, 05:22 AM

The quarterly results for MPEL are certainly disappointing tonight. Got whacked again.. now below that $30 level.
LVS got whacked by proxy.. because everything is down in July.. and they're expecting another downdraft by August because of the tightening rules by China on monetary transfer. Some VIPs are staying away.

SP500 - 1911 is the line in sand... then watch out below.

Get ready...

Darn.. even bears are afraid.. they turned at 191 and more covered.

That 100ma acts as pretty good support. 2nd wave of bulls were waiting. Yesterday and today, though today..
bears managed dived down to 190.88 but quickly disappeared.

This post has been edited by danmooncake: Aug 8 2014, 02:12 AM

It looks like bulls managed to hold the 1900 floor from cracking this week but no reversal yet.
With so many negative headlines, institutional funds have lighten up in event for that fall to that price target.
Good to get some cash ready..