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All i can say is, i tend to prefer risky shares, and it's a total bloodbath. Worse today than ever :(
kind of shows that retail & daytraders are out.. And only robots are moving markets. Algos are bidding/selling against each other. Skynet is in full control.
And next week will be more deleveraging from hedgefunds liquidating to meet redemptions, or close shop.
gold & silver bugs better hope busted hedgefunds don't sell off SLV & GLD all at once.
slingshot trade on ES 240 minute chart. I took it using TNA and road it out. This trade gets it's name when you have a leg down, X to A, then retraces between 50% - 6.18% (A to B), then drops to the 6.18% (B to C) and then buyers load up. At this point the slingshot has been streched back and released. Usually see an explosion up. Of course this trade works the other way around, which btw was in play to the down side on the 60 minute chart earlier in the day.
Of course on the leg down (X to A) you have to be below 20 on the RSI to make it a valid trade. Hope to take profit around 1210-1213.
Who the fuck knows, i many never see that target tomorrow lol!
all that slingshot strategy and execution, it's OK when you're young, --- but watch out, sounds like a set up pattern for future suffering from rapid cycling manic depression later in life.
Like jerking off too much, it can drive you insane.
Not kidding., Anyway, glad to hear you made money and good luck.
I think i jerked off too much already. I'm a crazy old bastard that can't shoot straight.
Never mind- here another old bastard, thick as a brick, enjoying yer insights ....
agreed, looks like it's setting up another waterfall decline to 1k spx.
wait, wait, serious question... what constitutes "too much"?
Enough to the point where i'm jerking off my dog. Wait.... uhmmm.. that's a joke
Who wants to bet that the reports on the radio when you get up tomorrow will say “overnight futures trading has the market opening sharply lower this morning”?”
chinese stocks got a fair treatment: BIDU, SINA: -10%.
They will soon drop down to the earth.
Buy some protection these days. People are getting insane.
Banks are acting the best.
GNW, MS, KEY, HIG, etc. all up 6% - 7%, well off their lows from last week.
Bears need to slam this group ASAP, otherwise, the bottom might be in.
Did you look at a ten day chart on your famous CMA, ZION, AXP, COF and RF. Hmmmm
Not with my money and no mark to market.
Robo, I still think you are the new Alan Abelson. Guess the Trade on Fire crowd thinks differently.
You said it last week about XLF, nice call. Don't overlook PNC- no mortgage probs, no Euro crap, biggest 2nd tier.
No Mortgage Problems?! They bought National City which was funding all sorts of crap...Neg Am, 10% stated income construction loans and 100% stated income HELOCS..but I am sure its all marked correctly on the books...I would not worry about it too much.
Can we see VIX > 45 tomorrow?
They're sayin this is all due to the Jew holiday. And quarter ending whatever, just bots going full retard.
its not the holiday. any jew who is serious about trading found a way. This Jew did.
Hehehe, mazeltov - no clue who junked you ....
Jews that didn't get to trade?
Just in Hedge fund Blow up
With the massive downdraft in momentum stocks today there has been speculation of a hedge fund blow-up. Those rumors now appear to be centered on John Thaler's JAT Capital. While we cannot verity if these rumors are true, the fund owns many of today's worst performers.
Some of his biggest positions includes:
Sina Corp (Nasdaq: SINA) down 10%Priceline.com (Nasdaq: PCLN) down 6%Baidu (Nasdaq: BIDU) down 10%Wynn Resorts (Nasdaq: WYNN) down 10%Green Mountain Coffee Roasters Inc. (Nasdaq: GMCR) down 9%NetFlix (Nasdaq: NFLX) down 12%Molycorp, Inc. (NYSE: MCP) down 5%.
You can see the entire portfolio here.
News Provided by Acquire Media Corporation
There'll be much more of this
the momos were taken out back and shot...when the old leaders die it's the beginning of the end
Jat Capital Management/L/P
OH MY FREAKING LORD. Dude, whoever put together that ridiculous MOMO portfolio needs to get hired by UBS STAT -- they have an open position, i heard.
These guys must be bummed Groupon hasn't gone public yet.
litt le disappointed that they didn;t have the good sense to round this out with some salesforce.com (CRM) and LinkedIn (LNKD).
Nice to see that they caught some RIG though. They paid a dividend, you know.
Well, he must have been done selling @ 12.30 (pacitic time) because all those stocks ripped higher starting a half hour before the close.
Saw that too, have been shorting one of these POS's mentioned so had wondered what was pushing it further green today.
Also interesting, from Aug 10:
Those all look like "safe" names.
This guy must read IBD each day and loads up. If he had any leverage (all hedgies do) then he is toast.
"I love the smell of naplam in the morning....it smells like...victory."
If you haven't registered at mffais.com, which allows you to look at the recent activity of firms like JAT, then you're missing a great opportunity to see just what went wrong.
For example, holding 2 million shares of SINA, they added 700k while selling all of their position in Schlumberger.
Love Capital Context.
ok, just chart the deescendig channell we are in. three days lower lows and lower highs. very bearish. but until the channel breaks just trade it as a computer, I refer to the s and p
so your top tomm should be about 1665, I'd expect a drop and then late afternoon rebound so we close in the green, but hey you never know, go long when breaking the pior days high. I find I make my best trades doing this if I have in fact programmed the computer before it happens.
I also like to set the stop for the day before. meaning my stop loss tomm would be about 1150
when you hig the stop (if it was todays low, it will usually drop below and close above. make it very hard to get a good trade. It's the freaking algo's, and they could do this for months.
in contrast the ddaily macd is going up from the downside, (so we are a bit oversold on the daily side. I expect another run at 1200, or a bit above before another real short
the good ol' days of the 3pm (sometimes 3:30) ramp job
made some horrible trades to start today, beautiful trades in the middle, ass raped at the close.
up 200 dollars (with over 3 million going through the cages).
I only wish I had caught the fancy to spank to some first class ukrainian porn in that last hour rather than blow my freaking load all over my (what had been substantial) trading gains for the day.
You are hilarious.
Describing the way the things r.
Me no clue - GLOBEX rape ?
SPY chart looks terrible. I just closed a few long positions after hour. I will match the emerging markets for direction.
When will CNBC hire Miss Teen South Carolina to answer to the Gold is not backed by anything gal ?
The "...Gold is not backed by anything gal" is from a Canadian TV news station (CTV Calgary)
But, but, Freddie Mac announced historic low mortgage rates? How can that NOT stimulate homeownership?
"Freddie Mac announces 4% mortgage rates, doesn’t announce that spreads between 30 yr mtg and 10 yr Treasuries rising to recession levels. Look at the VIX!"
Announce it, but they are not the ones who ORIGINATE the loans, the Cartel does, and as I heard, they do not want to part with their income stream of higher rate mortgages. And no refi's either. What makes matters worse is , people got suckered in once before by low interest rate mortgages- gotta make the points 1) FIXED RATE 2) NO TEASERS 3) PAYMENT FIXED for life of loan. Otherwise, nobody interested. http://www.youtube.com/watch?v=UI2FolId6CA
rational and balanced price discovery.
Nothing to see here.
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