What a turn around in the market from the Futures of being down 100 to the market up 100+ now. I am postioned for the market to continue its rise until Friday's Jackson Hole meeting.
The low $vix reading might have something to do with the weekly options that are now traded and not accounted in the $vix reading.
I have been buying VXX puts almost everytime it spikes up. VXX has been heading to zero for a while now. I don't ever use more than 10% of capital because the markets just might tank out of nowhere causing the VXX to explode up for a change. Works until it doesn't.
The VIX is down over 3%. April is the bullest month of them all. I see window dressing and chasing performance into this weekend. BUY BUY BUY - the dips for now.
I have UXG as my only stock right now with the other 50% cash as of now.
Here are two ETF's that don't roll futures contracts:
iShares Dow Jones US Oil & Gas Ex Index (IEO), which is an equity play on the oil and gas exploration industry and includes Occidental Petroleum Corp (OXY), Apache Corporation (APA) and Anadarko Petroleum Corp (APC) in its top holdings.
Vanguard Energy ETF (VDE) is a diversified energy ETF play which boasts 161 holdings. Top holdings include petroleum giants ExxonMobil (XOM), Chevron (CVX) and ConocoPhillips (COP), which are heavily involved in nearly every aspect of gasoline production.
I am looking at shorting UGA if it pops up a bit today...
I am looking to buy stocks today on the dip if the S&P 500 hits around 1180. With all the big discounts on retail prices today, I think it will be a big Black Friday for all. If nothing bad happens this weekend and Friday ends down, the market might jump back up on Monday. I am looking for a short term bounce in the EURUSD to get the markets rolling up.
I kept FAZ overnight. Just sold it as the Dow was down 217. Bought TNA for a day trade, hoping to get a bounce from here. Might hold overnight. Then I will go flat for the weekend even though it seems like it has been a 95% chance for the markets to be up on Mondays!
This is only what the market looks like when the PPT and Goldman Sachs take the day off. They will be back in force on Friday, and the markets will open up with a large gap down to the LOD and move higher. We might even have a flat close by the End Of Day. I will be selling my ultra-short ETFs pre-market and maybe even go LONG. Bill said that support is at 1080 on the S&P500. So we might go below that for a head fake then up.
Investors should be cautioned against reading too much into the sharp drop in unemployment claims. One should note that part of the improvement reflected large seasonal adjustment factors, which smooth out changes that normally occur at certain times of the year. Excluding seasonal adjustments, CLAIMS ROSE. That's normal at this time of year when many construction workers face layoffs because of worsening weather conditions. Most economists say the recovery will remain so weak and job creation so slight that the unemployment rate will keep rising.
I was able to watch the whole Miss Universe last night. I was cheering for USA but switched to Australia for the final girls. It was a great show of the islands as I have been there a few times to Atlantis.
I am up 75 cents on ORCL from last week. I am holding out for a whole dollar. I almost followed 2nd into the shorts over the weekend, but the markets just don't look like they want to go down. Maybe I will try again around S&P500 1050 level or Dow 10,000.
Sitting on the sidelines sounds good. I might get out of a few trades today and take the rest of the week off until Tuesday of next week. Bill said it is good to take a break and recharge the batteries. I don't know how much rest I will get, but I am heading to Bonnaroo tomorrow for 4 days of music for a change of pace.
The Cara Bahamas 2010 Conference at Grand Bahama also looks like a great change of pace for me early next year.
Holding only SPY right now, will sell it pre-market shortly to go 100% cash.
I got into FAZ($4.90) and out of SPY early this morning. I see that 2nd jumped ship on FAZ, but I might hold it overnight. I almost bought some SRS, but just missed it by $.20 at the open (up about the same 10% as FAZ from the open today until now).
Les, I hope you have a stop loss on FAS if you are still holding from $12. It could fall to $10 quickly, just today.
Who knows how the day will end? I say the rummor was bought, now sell the news!
Unemployment is excepted to be at only 8.9%, if it is only 8.8% there should be another big rally.
Bad, BUT less bad!
I am going short the financials (FAZ) tomorrow. I think the gaming of the market will be over with the S&P500 @ 920 level. I am in the SPY only right now, but I might get out tomorrow.
I think buy the rummor and sell the news. I wonder how much more money AIG will need tomorrow?
What a turn around in the market from the Futures of being down 100 to the market up 100+ now. I am postioned for the market to continue its rise until Friday's Jackson Hole meeting.
Jack Black,
The low $vix reading might have something to do with the weekly options that are now traded and not accounted in the $vix reading.
I have been buying VXX puts almost everytime it spikes up. VXX has been heading to zero for a while now. I don't ever use more than 10% of capital because the markets just might tank out of nowhere causing the VXX to explode up for a change. Works until it doesn't.
The VIX is down over 3%. April is the bullest month of them all. I see window dressing and chasing performance into this weekend. BUY BUY BUY - the dips for now.
I have UXG as my only stock right now with the other 50% cash as of now.
Here are two ETF's that don't roll futures contracts:
iShares Dow Jones US Oil & Gas Ex Index (IEO), which is an equity play on the oil and gas exploration industry and includes Occidental Petroleum Corp (OXY), Apache Corporation (APA) and Anadarko Petroleum Corp (APC) in its top holdings.
Vanguard Energy ETF (VDE) is a diversified energy ETF play which boasts 161 holdings. Top holdings include petroleum giants ExxonMobil (XOM), Chevron (CVX) and ConocoPhillips (COP), which are heavily involved in nearly every aspect of gasoline production.
I am looking at shorting UGA if it pops up a bit today...
I am looking to buy stocks today on the dip if the S&P 500 hits around 1180. With all the big discounts on retail prices today, I think it will be a big Black Friday for all. If nothing bad happens this weekend and Friday ends down, the market might jump back up on Monday. I am looking for a short term bounce in the EURUSD to get the markets rolling up.
Dow -30 @ 9993
Where are those "Dow 10,000" hats now???
Maybe we should be wearing the 9k hats!
S&P still holding above 1040 @ 1046ish...
Holding TLT for now.
I kept FAZ overnight. Just sold it as the Dow was down 217. Bought TNA for a day trade, hoping to get a bounce from here. Might hold overnight. Then I will go flat for the weekend even though it seems like it has been a 95% chance for the markets to be up on Mondays!
"down 2% across the board"
This is only what the market looks like when the PPT and Goldman Sachs take the day off. They will be back in force on Friday, and the markets will open up with a large gap down to the LOD and move higher. We might even have a flat close by the End Of Day. I will be selling my ultra-short ETFs pre-market and maybe even go LONG. Bill said that support is at 1080 on the S&P500. So we might go below that for a head fake then up.
Happy Turkey day!
Investors should be cautioned against reading too much into the sharp drop in unemployment claims. One should note that part of the improvement reflected large seasonal adjustment factors, which smooth out changes that normally occur at certain times of the year. Excluding seasonal adjustments, CLAIMS ROSE. That's normal at this time of year when many construction workers face layoffs because of worsening weather conditions. Most economists say the recovery will remain so weak and job creation so slight that the unemployment rate will keep rising.
Wow, big drop in SPNG, down around 40%
I might get a chance to buy it back under 10 cents...
I was able to watch the whole Miss Universe last night. I was cheering for USA but switched to Australia for the final girls. It was a great show of the islands as I have been there a few times to Atlantis.
I am up 75 cents on ORCL from last week. I am holding out for a whole dollar. I almost followed 2nd into the shorts over the weekend, but the markets just don't look like they want to go down. Maybe I will try again around S&P500 1050 level or Dow 10,000.
Just sitting in 95% cash with a few longs.
I bought some FAZ @ $39.70, and sold all my S&P500 holdings just over the 975 level.
I just wonder what tomorrow holds, or even the rest of today?
There is your Dow 9000
S&P 500 to 1000 now???
I have my 403b all in the S&P right now, I need to get out soon....
The XLF went positive for the first time today. Maybe we close higher...
Looking to get into FAZ around $41 for a trade.
Sitting on the sidelines sounds good. I might get out of a few trades today and take the rest of the week off until Tuesday of next week. Bill said it is good to take a break and recharge the batteries. I don't know how much rest I will get, but I am heading to Bonnaroo tomorrow for 4 days of music for a change of pace.
The Cara Bahamas 2010 Conference at Grand Bahama also looks like a great change of pace for me early next year.
Holding only SPY right now, will sell it pre-market shortly to go 100% cash.
I was planning on holding SPNG for a little longer, but I just sold my 10,000 shares at 9.6 cents that I bought around 2 cents.
I was hoping to buy a few 100k around 1 cent, but it never looked back.
Maybe I will get a chance to load up if it pulls back to around a nickel.
I bought some FAZ/SRS thinking the market might drop over the weekend.
2nd - I was going to follow you into SRS @ $20.70, but you and Vinod talked me out of it.
I went with FAZ @ $4.95 for a quick trade, maybe overnight.
I got into FAZ($4.90) and out of SPY early this morning. I see that 2nd jumped ship on FAZ, but I might hold it overnight. I almost bought some SRS, but just missed it by $.20 at the open (up about the same 10% as FAZ from the open today until now).
Les, I hope you have a stop loss on FAS if you are still holding from $12. It could fall to $10 quickly, just today.
Who knows how the day will end? I say the rummor was bought, now sell the news!
Unemployment is excepted to be at only 8.9%, if it is only 8.8% there should be another big rally.
Bad, BUT less bad!
I am going short the financials (FAZ) tomorrow. I think the gaming of the market will be over with the S&P500 @ 920 level. I am in the SPY only right now, but I might get out tomorrow.
I think buy the rummor and sell the news. I wonder how much more money AIG will need tomorrow?
Just bought a little:
FAZ @ $7.64
SRS @ $22.19
I am sometimes a day early, so small postion.
Plan to double down tomorrow if I get better prices.
I got out of my long term holds in the S&P500 at 880 two weeks ago. Looks like I should have waited until today (888).
I think the market will go down on Monday with the Stress Test results.