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Well that escalated quickly...
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This article should mark the bottom for today.
NASDAQ should merge with NASCAR into NASCRAQ ;-)
Looney
Nope.... apparently.
Google is being floated and making both S&P and NASD look much better than they are - or am I seeing this wrong? Thoughts?
i see 9 of the nas 100 are up today--two of them being GOOG; and GOOG occupies position 1 and 2
and the 2 GOOGs market cap is twice the market cap of the other 7.
amazing what a name change can do.
I was figuring Wednesday for the next market turd bath. Today is a pleasant surprise, so see, I'm actually an optimist.....
Nice to see the BTFDers get hosed by CB intervention for once.
Ron Burgundy!
https://www.youtube.com/watch?v=ovUkATL4l_g
Yaahoooo :) sell stop ESU15 @ 2076 and bear spread 2050\1975 to open
Perhaps confirms the suspicion of many here yesterday that the low-vol squeeze was just to attain machine re-shorting points. More worrisome earlier for bears was the major Russell outperformance (which has closed some of this gap in the last 30 min), which could indicated pension funds re-allocating to small caps due to the currency issue, rather than reducing overall equity exposure. Even so, I'm aboard the $TZA train once again, but suspect the odds of another leg down by 12:30 are a bit weaker than I'd like, we'll see.
Covered my short from yesterday just now arount TNA 80...think we may get another leg down because they closed rather easily. May want to sit tight
S3 pivot (78.5) coincides with the HRLY Keltner, so that would be a natural place, if it happens around the standard 12:30 bounce time, for algos to work back for another post lunch entry.
If 119 on IWM gets breached today, I don't see a bounce in the cards till around 117.50'ish...just the way my lines are drawn right now. Looks like 119 really wants to get a third test here. I won't be betting on it outright , but it will influence my leanings on the options buy/sell levels. My account is littered with blown out TNA hedges from 90's down to 70's LOL...looks like chaos, but it has been controlled. The last thing they want to do is ramp this sucker up cause I've got a titanic load of idle calls to re-sell against.
I heard Goldman's HFT team is working on a "JMF Neutralization Algo" (JNA), but their machines aren't powerful enough yet to run it, so they're pumping up their CPUs :)
(Unfortunately, we're also at a key weekly chart bounce point, and it looks like they may try to get back a pivot, so I'll need to be nimble, cover vs. buy more)
Ha ha...luck but I'll take it any way I get it...check that 180 day 4hr RSI on IWM...still have a little ways to go before oversold coupled with the H&S breakdown over the last few weeks and the lower trendline of the decending wedge on the 1yr Daily from 6/15 to 7/7 to 7/8 to 7/28....that's where I'm coming up with a lower target from here. It's a bit more long term than you play as the day trader, but with this volatility, I'll take any guides as to direction as I can find. Hope you are making out with this vol....finally a break from boring summers reading about life in the Hamptons for us muppets.
beginning to think being short via tza and spxs is a hold now--sometime in next 30-60 days we see big move down.
not much good news : only good news the US has is partying in others pain.
Never HOLD TZA...just juggle it in short term intervals. If you are going to HOLD a short, hold TNA short if you really want to straight out short (Would not advise that). At least you also have decay on your side that way. Holding TZA is like swimming up a white water rapid while getting punched in the nuts simultaneously.
Yea Keltner, I got on that train this morning myself, despite the RUT lag, and lookin' good at 1300.
Lotta big boys tryin' to bounce things, hopefully we'll see a late break and won't end up frustrated. Good luck to you
Something's wrong. Where's Wilson? [/mortimer]
Let's go !!!
Boy, that escalated quickly....https://www.youtube.com/watch?v=FONN-0uoTHI
Wasn't the technical term "matterhorn'ed"? LOL.
In technical chart analysis...that is called an "equilateral triangle move"...