Stock Market Today : June 4th - 8th - Page 42

Nice close. People must be pretty upbeat about the weekend.

 

How can we sleep while our beds our burning though? 

 

SLV had a nice comeback along with the miners, but they still ended down a bit.

Sheesh...I remember them...had like 1-2 hits, then vanished...

Bullish piercing on the daily, SMA 20 recovered in glorious fashion, a second trend day up this week, by my standards. Honestly right now I feel like if we take out last week's SPY 133.93 high, the 50 day test is in the cards for next week. Most of the bounce targets, e.g. 1334s, 1340, 1350 seem like asking for perfect chart behavior, which is rare, since people with more money and power than we have exploit our knowledge of these levels and move past them to clean out everything placed on the other side.

Right now, liking commodity complex pretty much across the board, and for some reason FB has me thinking it will have a very nice week. Almost picked up some Jun 26C today, had my bid in and out during the last 40 minutes. Discrection is only reason I didn't go for it. I like how Buyhigh and Rock have been touting FB today/yesterday, it certainly brought a possible good trade to my attention. They should be getting some good press next week (check FB thread).

closing that long out at 19.25  (/ESU2)

Just reviewing some daily charts, noticed SPY caught support at the low today right on the extension of the failed lower TL of the bear flag from before the ES 1262 lows were made. Somewhat interesting.

Good close. SPY weekly is bullish here for a move back to 135's next week imo

Spy def broke thru the TL.

GOOG and AAPL are both $580! Lol, hopefully they pick up next week.

 

Possibly a continue grind upwards? Some resistance towards the upper 1330s. A nice little bullish run to 1360 would do wonders for my IBM calls. 

 

Speaking of AAPL:

SOLD -15 AAPL 100 (Weeklys) JUN2 12 570 CALL @3.21 BATSMARK=572.85 IMPL VOL=24.09% , 

 

Played it on a lotto account, trail stop kicked in on a quick flush. Left so much on the table .

 

 

 

The lead singer Pete Garrett decided to get into politics.  Go figure.

S&P 60 min here. I'm thinking we see a test of at least that 1335 level again from last week. Gonna be interesting if the markets do continue to climb higher after that, then there will be a potential inverse H&S on the daily.

 

I kinda agree with this... I am holding some fundamental longs for the longterm, but have a  hedge with uvxy.  The world market is not healthy, no matter what the people behind the curtain say, or how dazzling the smoke and mirror tactics become.

Nice action today.. i feel mostly shorts covering going into major data..

 

CPI and PPI are due this weekend from china which will be negative perhaps due to the rate cut which no one was expecting. Bearish

Then we have the YEN intervention which is bullish for the market..

And then euro decisions...  Unknown reaction to market.. Spain is to close a 80B euro hole... somehow..

 

I do think we would of tested 1292 but instead we want to touch that resistance point again(1320) and need a clean break beyond 1335 to see 1355 and 1370.

 

 

1323 close. Not bad. How about 1340 Mon Ichi?

 

Good trade Ichi.

 

Bob is a great student. He teaches me though. 

You heard it from Bob first gents. damn nice call 

Rep'd!!! 

I thought 15 was key based on the close but once the POC established at 1310 I saw

the balance tip in the  bulls favor and went for the ride.