First, don’t forget to read the rest of the post. Now, I present the following (some are old, but who gives a shit?):
—
Today’s action depends entirely on the FOMC’s announcement. The market will spike up or down intra-day and you will have only minutes, if not seconds, to act. It is imperative that you have your watch lists (long and short) prepared and ready to go.
I am still leaning towards the bearish side, despite the fact that I remain in 100% cash. I took a poll a few hours ago asking traders how the market will act today, and here are the results:
As a group, this only means one thing: indecision. It will be obvious which side will win. Personally, the best option is to remain in cash until a clear direction is determined.
The SPX finds primary intra-day 10-pt support between 880-890 and 10-pt resistance between 920-930. There is also overhead resistance at 910.
Once again, I drew blank boxes for the remainder of June and all of July. Use your own imagination. I also included a weekly 7-year chart to put things in perspective:
Here are the COMP and RUT, both in precarious positions and threatening to further develop the head & shoulders pattern:
Finally, I look to the European indices (DAX, CAC, FTSE) for guidance due to the fact that they have broken down further than the US indices. Currently, Asia in the best shape.
Here we go with the soft porn, Trading Goddess part 3 (Jake is part 2).
MEGAN AND JOHNSON~~~~~~~ HOTTTTTTTTTTTTTTTTTTT
Ah, Hayden.
A proud member of the “DPeezy Top 5, Jailbait Edition.”
Soft porn? Not even close.
DP – who are the other four?
CA– Forgive Sister Mary Albert.
She’s always “waspish” after vespers.
__________
Top 5 Jailbait Edition goes something like this:
– Hayden
– Emma Watson
– Vanessa Hudgens
– Kristen Stewart
– Britney Spears sister?
The Top 2, most definitely. The rest, I’d have to think about for a bit longer.
Sister Mary can say a prayer for me at the 5AM service.
I added Mandy Moore at the top. Forgot about her.
Harry Schultz is trying to scare me.
http://www.marketwatch.com/story/schultz-paints-bleak-picture-of-future
Mind if I refresh this post (a lot) during the day?
haha love the pictures.
PPHM getting morning wood from your pictures. Well, maype it’s the news.
Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM) today reported the issuance of a U.S. patent with broad claims covering vascular imaging applications for phosphatidylserine (PS)-targeting antibodies. The patent represents the first broad coverage of imaging claims under Peregrine’s PS-targeting platform…
Hmm, good post CA. I am not sure why I have this strange smile on my face while looking at the charts. I have a feeling its the girls 😉
so much better
Not the epic battle scene I was expecting. Appreciated, but now I’m going to have to scroll down even faster or risk some strange looks around the watercooler.
SSO MTL XRM SOMX FSLR – triggred my premarket alerts
Pics a big improvement over the “dungeons and dragons” stuff
Only a spectator this time but ISTA may be setting up for the pop before their new drug application news June 26.
It’s trying…
I win, CF’s first $3 was higher!
ISTA – and there it goes – broke resistance.
in a better market I’d love it right now.
I like to keep my readers satisfied.
wow, identical taste in women… you obviously have good taste, ha … except natalie’s pic could be better–not the most flattering one of her, she looks a bit scary there
To all readers…dont loose your head to a woman who will spend your bread……Rod Stewart
Something for everyone
EN1GMA:
http://www.youtube.com/watch?v=u9zvawqMBFs
auto-refreshers are welcome today.
SQNM again!
Back to some more SFW discussion- does regaining the critical 900 level due to a rare actual green shoot change anything, or are you still leaning bearish?
RJET still going
I knew this would happen. Everyone ceased trading after being caught in a mysterious hypnotic state.
Jothar – first of all, I don’t care about these “green shoots”. Second, I have to see how the day develops, most of which will be determined in the last 2-hrs of the day.
any good picks for today?
looks like the new servers are up and running…the overall site is much faster. Waiting to see what happens after the Fed…
In FSLR and SOL; watching SQNM
thanks for the refresher retox, I did see the movie CLOSER a while back and was pretty surprised to see her in such a risque role, but I sure wasn’t complaining…haha
CA, what do you think about AMLN? BTFO?
CA…..XRM CYMX
I flagged AMLN as a setup on 6/3: http://ibankcoin.com/chart_addict/?p=992
TRID moving
CA, what do you think of VVTV today?
VVTV is great intra-day and on the daily
bot ES 904
VVTV for daytrade
there goes VVTV
sold ES 905.5 +1.5
Sold half SSO from yesterday at 25.56 (bought @ 24.80).
Holding long 15% SSO, looking to sell at 919, think 920 is formidable resistance.
Glad I am long the market with leveraged longs..
Too bad for most of you since its on the Canadian side.
I just covered my CF short. Bad timing.. should have waited for a downward break.
In BRKR at 9.22
RJET may be rolling over. 50%+ gain in 2 days. Might be some meat on the bone.
VVTV $1.859 and $1.86
*and 1.8599 and 1.8595
ARM 3.68 day trade (SRI just exploded)
Hey CA, for stocks like AMLN that are about to breakout, do you enter a full position or just half position when its consolidating like this before the breakout and then enter your other half after confirmation of the breakout?
ELN…good pattern, heavy options activity..company is being actively shopped…imo.
AMLN is a solid stock to hold on technicals or fundamentals IMO. I have a big position and I expect this to double within a year.
SIRI, if ppl play penny stocks anymore
I’ve noticed time and time again where right after a breakout from a flag, wedge, triangle, pennant, whatever – there is often a pop above the trend line followed by a quick dip back to the trend line (that now acts as support).
It’s almost like we pop, shake out the weak hands, pick up some dumb shorts, confirm that there will be a move by not breaking back through and THEN the big volume comes with the real move.
I’ve always used that as a guide to know if the trade is working. Some traders I know use the quick retrace as the actual entry point. I don’t like it for an entry because I don’t want to miss a really nice pop that does NOT retrace like this.
Here is the last trade I called for a visual example. This one did NOT make it all the way back to top of the flag – it reversed at the MA instead. Prime example of why I’m willing to enter right at the break out.
http://s699.photobucket.com/albums/vv352/retox13/?action=view¤t=esjune241.jpg&newest=1
Thoughts and comments are appreciated…
CA, whats your stop on VVTV? Thanks.
Good trade Retox.
Keep up the ES live trades, great asset here to the commentary section.
ES setting up a short 904.25
ES target is 902.75 – stop at BE
AMLN BTFO
ES 903.25 out +1 too many contracts bidding 903
I don’t use stops, except for the rarest of circumstances. That doesn’t mean ppl shouldn’t though.
GPOR
HTE
SYNM
WPRT
ELN
MRGE 3.79
So true on stops.
Both SPY and ES have the same underlying but
SPY – can’t use stops or you get bitch whipped (similar to most penny stocks)
ES – stops help me keep my 1 or 2 point gains from scalps and they force me to leave emotion out and stick with the pattern that signaled the trade. You should live and breath ES before you start to trade it. It gets predictable.
Accidentally typed HTEC instead of HTE. I thought CA hit rock bottom.
LOL $0.0021 stock
CA-
Pattern question. Does XRM appear to be forming a cup & handle on the daily?
no, the ‘handle’ is way too deep. This is a major price correction on XRM. Conversely, time corrections are horizontal consolidations.
CPE starting to break out. Inverse h/s pattern?
ES in falling wedge 1 minute – too close to FOMC? watching…
FOMC IS AT 2:15PM. DON’T FORGET
FOMC= federal open mental committee
Should we be seeing more volume on the breakout for AMLN?
Let’s have a vote. Should I:
1) Keep posting pics of babes?
2) Keep posting war/battle scenes?
3) Mix them throughout the week?
4) Other pics (tell me what kinds)?
—
Should see above average vol on any breakouts.
Keep posting pics of babes
Um, no brainer…babes. Any other vote = a case of the ghey (not there’s anything wrong w/ that – Seinfeld)
babes
CA i am partial to your TA charts but f we have to choose I have only 2 words: MEAGAN FOX!!!! More skin the better ,,,, although your war/battke pics amuse me to the WTF point! 😉
To quote the loquacious Mssrs. Beavis & Butthead “hehe eheh BABES heheheh heehee “
ES fin to raise up an get out this wedge
ES bot 902.5
PT ~ 904.25
playing with ES stop 902 – 902.25 area
CA..a balanced blend, primarily stock charts, and war shit…see plenty of tits and ass everyweek.
no more warlord comic book stuff.. charts and wool plz
I vote for mixing it up… maybe babes if the market is going up and bloody battle scenes if the market is heading lower.
Post full nude GUYS!
Gotta give our ladies on the blog something to look at!
Do black women next…..
look at XRM!
Mix it up CA! The war stuff is very cool, but the babes give me something to stare at while I am bored watching the markets..
One babe, one war scene and several charts everyday.
As we’ve talked about the last few days… TBT doesnt have to go up because of all the Treasury auctions. Remember markets always set up to hurt the most people! It’s the pain trade!
there goes VVTV
ES hit PT – out 904.5 +2
stayed in the trade cause they played “Let’s get it on” on CNBC – good juju.
VVTV
Thanks CA,
selling at 1.96 here if it hits
1) Keep posting pics of babes?
Any target on VVTV?
CA,
That last 1 minute ES wedge started getting sloppy (the last dip was a bit below the bottom trend line).
I’ve noticed that that usually gives a stronger but more hesitant break-out. Is that just nonsense??
Who thinks CA and the site should ban “Grouch” i think he’s a fucking homo, and hes annoying as shit! Shut the fuck up GROUCH!
C is for cookie, it’s good enough for me; oh cookie cookie cookie starts with C!
I will post 1 battle scene per post on some days, but I will post several babe pics on other posts, so net long babes.
Grouch, YES!!!!!
PissAnt, piss off. Grouch is probably a chick.
MTMC!!!!
Babes with charts on their chests!
Head and shoulders pattern: http://i587.photobucket.com/albums/ss311/chartaddict1/thong.jpg
lol, yes I agree with the Bull.
My 2 favs Megan & Jessica.
FOMC announcement in 30 mins
boob chart
http://platinumtach.com/gallery2/main.php?g2_itemId=159
Those sluts look tired. BRING ON THE TRANNIES!
Raised more cash…
Out of AMLN, HXU.TO
I just spent last 30 minutes scanning curves of Megan on Google images …. I concluded that I am extremely bullish and long on Fox 😉
100% cash. Crappy picks on my part today. I blame the above distractions.
so, what happens if the FOMC disappoints? does every stock crater?
CA – Check out NRI.TO
Its got a new drug coming out. Potential double.
Post pics of babes in battle scenes… duh.
Franky, actually i’m a dude! Maybe a little colorful, but definitely not a woman.
If they want to get rid of me, then they can vote
Canuck – Is there any difference between NRI.TO and NRIFF (pink sheets)? Looks like it’s the same company. Asking because Etrade only has the latter.
Ah, the infamous pre-FOMC symmetrical triangle on 1 min ES. Dull.
5 MINUTES
still on TRID watch
A great start, CA, but I’d like to see better transparency in the coverage of these names in order to improve visibility and thus maximize stimulus.
Look at what the world has come to, haha:
http://www.ananova.com/news/story/sm_3374702.html
CA,
checkout APD short
Sold VVTV $1.865
Sold 2nd half of SSO @ 25.30… didnt like the way the market was trading, who knows i could be VERY wrong.
GNBT…watch if volume comes in…
JAZZ on the daily?
fuck this noise – pick a direction would ya
SHORT
PCU *$20.45
TTI $7.51
WTI $8.73
HLX $9.77
TC $9.67
JRCC $15.74
oh, that’s why – anybody else lose chart data with Think or Swim almost every time the futures market heats up? They always blame the CME.
HOC $17.59
TSO $12.41
SD $7.94
CRZO $ 16.65
CA – you’re shorting all 10?
900 level / prev day resistance acting as support – should make another attempt unless 3pm bots come in
Reposting what i posted yesterday:
Just keep in mine one interesting stat i’ve researched:
The last 16 Fed meetings, 14 of those times the market has moved in the opposite direction the next day from the initial 2:15-4pm post fed decision. The average move of that next day is 2.23%. So expect a chop and don’t get too one-sided.
50% Short/50% Cash, all swings, God-willing.
PissAnt,
You have any numbers for the overnight moves vs. the actual move the next day during mkt hours?
Retox: I could try and look into it, need about 30 mins.
Shorted JCG 23.54 ARO 33.14
overnite opinion on holding half VVTV?
PUSH!!!
#2 is a charm!
Well since today has been relatively flat I assume we should default back to yesterday for PissAnt’s figures. (which rock) If that’s the case and tomorrow follows the trend, we might push through lower support sometime tomorrow. Sounds like shortin’ season.
PissAnt – any reason why you only went back to the last 16 meetings? I think they have 8 regularly scheduled meetings a year. Just curious. It would be interesting if how things would look w/ a large sample so to speak.
ES resistance now 893.50 to 894.75 range. We were rejected there several times in the last 2 days.
what ETf shorts the USD?
UDN $ bear
UUP $ bull
UDN is the US dollar short
I am planning on picking 2 of CA’s shorts into the close for a swing. CRZO and JRCC best so far, as I think they will suffer bad. I want to sit through the bot action. I also will do one 3x ETF, likely TZA.
thx retox
Try to answer multiple questions at once.
Kman: I did the last 16 meetings, due to time constraints. However, i included intrameeting rate changes also. The 16 meetings goes all the way back to Oct 31st, 2007 where i pretty much mark the start of crisis (since technically we hit new highs after that August swoon).
Retox: Great question, glad i researched it further. Of the 14 days that did work. 12 of them gapped in your favor the next morning. Avg gap was 1.15% (so about half the total gain for the day). Two mornings the gap didnt go your way and those were 1.25% and .38% moves against you, however they closed in your favor by 1.3% and 2.4%, respectively.
Wow, lots of numbers, very technical in nature. Hope i got this right, just want to get it out to everyone before the close.
One thing to point out, dont expect such large moves in either direction. Volatility has come in quite a bit, i’d only expect moves half that large as the world seems to not be going into Armageddon.
PissAnt,
I had a hunch… thank you for confirmation!
If we get a 3rd push down (usually the way but no telling at 3:30) and the market sells hard into the close, I might pick up some ES for an overnight retrace.
Retox,
I agree, if SPX closes 900 or higher, i’m not going to do anything because we’ve barely budged from the meeting.
PissAnt,
I had a hunch – thank you for confirmation.
Thanks PissAnt.
I would luv to see some delicious pics of R. Pattinson from TWILIGHT…not all your fans have testosterone pulsing through…
I vote a MIX is good– with a tad more babe posts
Taking a swing at JAZZ at 3.24, 10% stop.
Boeing BA, American Express AMX, United Tech UTX responsible for the Dow divergence today.
Done deal. Short CRZO/16.59 and JRCC/15.87 and TZA/25.01
DIIIIIIIIIIIIIIIIEEEEEEEEEEEEEEEEEEEE!
Oh, please spare my one long and winning position in YGE(in at 13.38- tight stop), oh Market gods!
HAHA
Correction- Am long TZA, not short. Can you even short a short fund- the hell’s the point when there’s TNA.
Later peeps. Back to the grind.
[my] devoted fan – sorry, but there will be no pictures of men on this blog. Ever. However, you can browse the many pr0n sites catering to women.
ES trades for today. +4.5
http://s699.photobucket.com/albums/vv352/retox13/?action=view¤t=esjune24.jpg&newest=1
Bay Area Dude,
Shorting a 2x or 3x ETF might actually be a better option based on decay IF you can get shares AND they don’t get called away.
Please don’t take offense (none intended at all) to the name of this web site. It’s just one of the better descriptions I’ve seen.
http://marginalizingmorons.blogspot.com/2009/02/more-on-etf-decay.html
your devoted fan – if you get lucky someone might post a link to someone sticking something up man ass…
or at least it’s happened before…
Bay area dude, due to the rot of 3x etf’s, shorting tza makes sense. It’s guaranteed money long-term. Check out how faz when from $200 to $5.
badass
http://www.dailymail.co.uk/sciencetech/article-1195215/Stunning-pictures-hole-clouds-astronauts-witness-volcano-eruption-International-Space-Station.html
50% short/50% cash, 10 positions
+1.73%
I luv you anyway, CA. Thanks for helping me and my family!
retox and Jothar, I know that’s a popular sentiment, but it really depends on your timeframe. Early March to early June, you could’ve also ridden TNA to a 200% gain ~11 to ~33. Shorting TZA during that same timeframe (~115 to ~20) would’ve returned “only” about 80%. The maximum return shorting these things is 100%, while exposing yourself to unlimited risk in the other direction. It isn’t always the best play in a trending market.
Re: ETF decay
Perhaps selling (to open) reasonably out of the money call options on the 3X ETFs would be an alternative to shorting the ETFs. Obviously you would need to stay awake and be ready to cover if needed.
I’m not sure what the margin or account balance requirements would be i.e. how much capital would be tied up doing this.
wb,
Yes, agreed, your point is good, timeframe is very important. It’s devil shit anyway – just trying to help with the “why would you short a short” question.
In a big smelly nasty rally like the one you mentioned, the short short could not work as well as the long.
Using the SPX, the market was “Up Slightly”. 27% (87 out of 321 votes), or the majority, voted for it in yesterday’s sentiment poll.
Interesting.
is CSIQ a good short? it formed a nice head and shoulder, but 200/50MA are crossed in uptrend and right now it’s sitting above both.
Kman crushed it with JAZZ…+35% in afterhours
Lets fuck some whores!!!!!!!!!!
—“Ronney the Limo Driver”
The sweet sounds of JAZZ in AH. Giddy up. Gonna ride it at least until the open tomorrow.
http://www.cnbc.com/id/31531751/site/14081545/for/cnbc/
congrats!
CA- What do you think of the allegations that Rep. Issa has on Bernarke?? If true, what effect on tomorrows market.
Again thanks for wonderful work on your charts!!
Berky
Don’t care much. Whatever happens…happens.
CA-
What is your target on the CRZO and JRCC shorts? Any time horizon to achieve? Thanks!
Nice pics by the way.