call me crazy but I'm going to short this rally

Quote:

Originally Posted by MsMarket 

call me crazy but I'm going to short this rally

The crazy trades are the ones that seem to work best!

Anyone see VVUS today? Fell 25% this morning, came all the way back and is +2% now.

Could have made out like bandits on the calls and puts 

Turning out to be a pretty exciting day!

Quote:

Originally Posted by StockJock-e 

Turning out to be a pretty exciting day!

yep...

mine was sina...

I'm long GC and ES 

need the dollar to kick this intraday trendline or I'm out. 

Looking good so far in terms of the stock market anaylsis video (i.e. a quick flush and then back up).  Hoping we soon get either to the 1361 or preferrably the 1370 area and hold it to give some confidence in the markts continuing higher.

welll fffuuu euro breaking out, dx breaking down and my gold and ES just sitting for now. come on baby!

The push higher looks like it is about to kick in now.

CNBC: Traders are now thinking, after listening to Bernanke, think there is now a 50/50 chance of from QE.

dx broke giving me confirmation to hold. GC still slacking though

Quote:

Originally Posted by o7media 

 

 

 

If we can hold these gains today it really looks like that wedge will be broken to the upside. 

wow at this rally. we're going for this upper TL now 

Originally Posted by StockJock-e 

CNBC: Traders are now thinking, after listening to Bernanke, think there is now a 50/50 chance of from QE.

 

yeah that's what we're thinking 

Quote:

Originally Posted by rst 

Quote:

Originally Posted by MsMarket 

call me crazy but I'm going to short this rally

Market will be a very good short someday, but don't know when that will be!

Monday.......

Long $BAC into earnings after JPM,C,GS,WFC all did better than expected  i like BAC to the top of the range at $825

After ‘The Bernank’, You’ve Got to Buy Stocks: Pros  QE-3 all but done

“Now, you have to be long stocks,” says trader Brian Kelly after Ben Bernanke concluded his testimony before the Senate. “There is no other choice.”

Kelly as well as many other market pros believe that Fed Chairman Ben Bernanke just telegraphed that QE3 must be factored into all future trades.

“He talked about the second quarter coming in below 2% and he talked about the jobs number failing to improve,” Kelly says. “How much more do you need to hear!"

"We've already had several Fed governors come out and say the mood is changing at the Central Bank. And today, Bernanke all but said as long as the economy continues to get weaker, we're going to be there.”

Kelly like so many other market pros sees the potential of QE3 not as a hint but rather as a series of probabilities. And Kelly as well as other pros believe the probability is higher.

And as the Fed nudges closer, Kelly believes investors need to put money in stocks. That’s in part because once the Fed moves, Kelly doesn’t think they will move subtly.

“Whatever comes along next, it's going to be big,” he says. And you want to be in stocks before it happens.

Trader Guy Adami thinks the technical tell a similar story.

1344 has been a key technical level and it held. It suggests investors are well aware that the Fed is trying to push them into higher risk assets

Transports are barely green here. Techs lagging bad too. Financials are okay.

Technicals look good at the moment, but not sure if we can trust this rally 

Quote:

Originally Posted by CPOonfinal 

Monday.......

Why monday?  Cos of this?

Other reasons? 

Quote:

Originally Posted by o7media 

Transports are barely green here. Techs lagging bad too. Financials are okay.

 

Technicals look good at the moment, but not sure if we can trust this rally 

Can you really trust any rally as of late...But there is thing  you can trust

I have my charts indicating either Friday or Monday will be a reversal day.  I'm leaning toward monday.  I'm looking for a short position on Monday.  Tight stops though.

*Let me rephrase that.  Monday could very well be a green day but I'm looking to build a short position on Monday for a down leg of $3-$5 down run on the SPY.  I guess we'll find out next week.  Not enough upside between now and Friday to go long IMO.  Expiration is a big factor in my decision but also because I believe in Monday being a reversal day.