Seems like a break of this ought to set the stage for a multi-month move. Perfect week to grind out into the middle of this range.
Building out my watchlist right now, so many great setups out there. Best batch in weeks.
OA
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Looking like late July 2011.
I really want to be bullish, but I just can’t right now. I get the record outflows, excessive short positions, expectations of lower markets, etc, but I still think there is some pain to come. Full disclosure, I got pounded on Friday with the drop, so that is probably coloring my vision right now
I think dip buyers have been rewarded for buying Euro fears for years now. But maybe this time it’s different?
I am not making a market call here, I am just saying what I am feeling – I feel legitimately frozen on what to do and to me going to cash seems like the best move. It is frustrating being indecisive
QQQ jan 120s
Isn’t it amazing how terror inspired mass killings don’t even shock the market anymore? Crazy stuff.
Would you sell your investments due to the fact that some asshole shot up a gay nightclub?
Me either.
I wouldn’t but these incidents used to rattle the markets. But now they are shrugged off because they are commonplace.
lol! exactly. me either
Really hope breaks up. Haha
New lows on the SPX. And broke 2085 support. Needs to reclaim by close
Why?
Only if you care about levels I guess. If not, doesn’t matter
I don’t see why that one matters.
Guess not but ugly ugly close
yeah its the pain trade gap-n-go tomorrow at the open. has to make you panic so you have FIMO in the morning
It does look like the spot to grab yourself some QQQs. I am unfortunately fully deployed in my risk tolerance so I would have to sell in order to buy. Except I have kept cash in my long term account to push FSLR to 120% position and to reload $FCX into what would amount to a very large position on a move down to $8.50-9.00. Looking at FSLR this week.
Suck in the shorts and gap up tomorrow?
credit is tightening again – company did not get a loan due to lack of enough profitability – bank was referred to us by one of their largest depositors, but still no dice
leg sweep here next week after the BREXIT vote (regardless of outcome) would really put people off sides, especially if we were to grind lower over the next week, that might provide some serious short covering if we were to rally off that…
Any thoughts on USM long?
Carl Futia has been calling for a 100 point decline for past week or so after hitting 2110ish. He’s been on fire this year and past several years actually.
Thank you for that blog. Looks like Carl had quite a January (http://carlfutia.blogspot.com/2009/03/blog-trading-record.html), although I wonder how he did the rest of this year.
Here is another daily prediction blog that might interest you: http://www.stocmarket.com/index.htm
Any thoughts to owning Europe here or not touch it with a 10 foot Brexit poll?
If BREXIT passes (ie, Britain leaves), the European markets will all be hammered hard. This is pretty obvious, right?
So any European play is not a Technical play, not a Fundamental play, but a pure Gamble on the chances of a Brexit vote. Anyone claiming otherwise is delusional.
Now, I personally think that is is doubtful that Britain leaves, but I’m not a gambler.
raised cash
OA, thoughts on FIT for a purchase here? New line up has some positive talk from Zacks. Is this a good entry? Sorry if this has been discussed I’ve been away a few days. Thanks!
Last week’s darling, this week’s dud. Erx down 10% first 2 days of this week.
Well looks like 2085 support mattered.
Or 80, or 75, or 70…it didn’t matter. That’s why we’re lower.
Picked up some TWTR July 15 calls here. Don’t see much else to do until we stabilize.
Urban Carmel @ukarlewitz 3h3 hours ago
Long story short on the much talked about $Vix spike: if $SPY bounces, then likely lower low ahead; if $SPY keeps falling, likely V-bottom
IBB looks to be sitting on the bottom of its trend line. Thinking a half position of 270 calls for next week and a half long position for a long term hold.
Buy between 255-260. Sell around 285-290. Rinse repeat. Don’t over think it. There’s no breakout coming. People calling for it over and over just keeps getting disappointed
Thanks for the input