The dips have continued to be buying opportunities and that will work until it doesn't. My concerns are this has been a liquidity injection/dollar weakness rally. Those two trends are reversing so far today. I would be surprised if we didn't see a short term bounce here. Which is why I'm long some Uncle Russ - I would expect a bonce after being down 21 handles from the HOD. Watching the leaders, AAPL, NFLX, GOOG, BIDU etc.
Still holding 2/3 of my $LVS short from $39.11 and started short today in NFLX at $173.25...unfortunately sold my $DZZ this morning at $9.01 from $8.64.
Covered 1/3 of $LVS short from $39.11 at $36.52. Lowered the stop on the rest to entry price. I thought this would break a little more once the market turned over since it has been such a high flyer. May get some support at that $36.50.
In his essay from Sep 17, 2010 Armstrong argues against the idea that gold is a hedge against inflation. If that were the case he argues it would never decline and should keep up with CPI in spite of manipulation. Rather he believes it is a hedge against instability and gov't default.
Gilead looking nice today - hopefully get close over $37 today. Nice breakout on the daily of the $35-$36 area. Should be clear to $40 level. Volume nothing spectacular though...earnings on Tuesday the 19th.
Thanks for your advice Vad. I really appreciate it. I'm putting a stop loss to cover at 2% and see where this goes. I had it at 5% but I also looked back at the previous high volume days and 2 out the last three have been up so I guess that shows more accumulation.
Seems like the whole "mortgage gate" fiasco might be the catalyst to the end of this nifty move over the past month and half. Similar to the European debt issues in April.
Question: Why is there such a large focus on POMO recently? Is this something the Fed has always done? Or is this special to the current intervention in the frequency and dollar amount of repurchases?
Basically just wondering if this has always gone on why is it such a big deal now?
Sold my long at 696.50 from 689.90
The dips have continued to be buying opportunities and that will work until it doesn't. My concerns are this has been a liquidity injection/dollar weakness rally. Those two trends are reversing so far today. I would be surprised if we didn't see a short term bounce here. Which is why I'm long some Uncle Russ - I would expect a bonce after being down 21 handles from the HOD. Watching the leaders, AAPL, NFLX, GOOG, BIDU etc.
Looks like this could be our culprit -
http://bit.ly/cQVuRW
Long here for a trade - stop just below LOD.
Still holding 2/3 of my $LVS short from $39.11 and started short today in NFLX at $173.25...unfortunately sold my $DZZ this morning at $9.01 from $8.64.
Covered 1/3 of $LVS short from $39.11 at $36.52. Lowered the stop on the rest to entry price. I thought this would break a little more once the market turned over since it has been such a high flyer. May get some support at that $36.50.
In his essay from Sep 17, 2010 Armstrong argues against the idea that gold is a hedge against inflation. If that were the case he argues it would never decline and should keep up with CPI in spite of manipulation. Rather he believes it is a hedge against instability and gov't default.
http://www.martinarmstrong.org/economic_projection...
Gilead looking nice today - hopefully get close over $37 today. Nice breakout on the daily of the $35-$36 area. Should be clear to $40 level. Volume nothing spectacular though...earnings on Tuesday the 19th.
Long w/ avg of $35.06
Thanks for your advice Vad. I really appreciate it. I'm putting a stop loss to cover at 2% and see where this goes. I had it at 5% but I also looked back at the previous high volume days and 2 out the last three have been up so I guess that shows more accumulation.
Can anyone explain the move in $LVS from a fundamental analysis point of view?
I just don't see it. I can see from TA what has kept someone in the trade but it just looks way over valued to me.
Short at $39.11 - 2nd attempt, I was short around $31.xx and was stopped out when it broke out of that base a few weeks ago.
Daily, weekly and monthly RSI are also high
Argues to be long the banks - especially BAC
http://www.cnbc.com/id/39686897
Seems like the whole "mortgage gate" fiasco might be the catalyst to the end of this nifty move over the past month and half. Similar to the European debt issues in April.
Unless we get some POMO MOMO
$ESLR Looking tired
Question: Why is there such a large focus on POMO recently? Is this something the Fed has always done? Or is this special to the current intervention in the frequency and dollar amount of repurchases?
Basically just wondering if this has always gone on why is it such a big deal now?
$ESLR broke the buck today....funny how they were in danger of de-listing if stock didn't hit a buck and like magic it has.
Our old friend $ESLR has another huge day...+27% on highest volume since March. That thing has exploded off it's .60 base it put in.
Another blast from the past...had been on a nice run from .60 until today.
Short $ES_F, $TF_F, $GC_F @ 1132.50, 656.40 and 1299.70
Day trades will add if market pushes higher - thinking we see meltup today early then bleed out the rest of the day.
From yesterday.....
http://tinyurl.com/3ax2juo
Euro new low 1.2517....could set up for ugly day tomorrow.
Flat on ITMN - half at 11.17 other half at 11.19