What’s the take on this chart? This action here is the one thing I am uneasy about today.
Joined Aug 2, 2009
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big volume pocket below.
I was going to note the odd divergence of nasdaq
positiveflat right now while the dow is down almost 1%.top tick!
Snail trail!
lol!
The market leader, gold.
$PYPL
haha, yea..
Biotech too??
Today’s market roller coaster ride is a Day traders’ wet dream
Dollar going much lower than this. What it means for stocks, who really cares. What it means for oil and other commodities, though, thar be gold in them hills. Long oil from 46.50.
dollars been falling last few days and really hasn’t done much for oil. but crude is sitting at support so we’ll see.
Dollar needs to break support to really spike crude. Crude is out in no man’s land right now, wondering if it should go lower because the global economy sucks or if it should go higher because the domestic economy sucks [weaker dollar]. I think crude bounces to at least $60 here just off a falling dollar.
Opposite opposite day
long CL short ES #costanza
4320 is the line in the sand for the NQ. We close below it today and it’s a big problem for the bulls. I’m riding bonds into the sunset….easiest trade going right now.
So we need a weaker dollar to support crude and commodities, but need a stronger dollar to support international money flow into the US markets – something has got to give – global economy can’t support both right now. Either we get easing from other CBs or the US raises interest rates.
Not impressed with the 2:30 print on oil. Just a tad north of 46.30 to suggest “strength”. No offense to those long oil, but I suspect weak hands hold at this point. Will be taking a 1/4 position short ahead of API. Will fade any higher move after the EIA inventory. My guess is we have a slight draw. While considered a positive, oil will be sold. Expect to cover around 2:00 pm as front month options expire at 2:30 tomorrow. Algos, I dare you to defy me! Humour; not hubris. 🙂
Order placed via SCO at 79.79. Yet to be filled.
I expect an increase in inventory from API this evening.
Dropped my bid to 79.75. Filed a few minutes ago. GL everyone!
Rather than take any sort of action, today has just made me want to complain.
anyone playing NFLX lottos?
You’ll need it to pop like 15-20%.
I know IV is high but doubt it needs to move that much for options expiring in 2day?
That chart doesn’t bother me at all. The only way the entire world economy survives is with a lower dollar and higher commodities as a result.
Drillers and miners have been pummelled to near death in recent years. They are going to need fetch much higher prices for their products in order to pay down debt.
From the cycle point of view the dollar is on day 18 with an average timing band from trough to trough of 18-22 days. So it’s ripe for a daily cycle low and then a move up.
Just because it is testing the bottom end of volume profile doesn’t mean it’s going to crack. Think it turns higher this week, maybe even a gap up tomorrow based on a random bit of news.
and down we go…
Nailed it.
we’ll see tomorrow i guess
Form an opinion.
Another great call lol
Jeff – Do you think we should be selling some stuff here?
OA,
Why are you looking for $303 for $IBB close?
I feel that is the underside of the range. I want to be in it, not excluded from it.