Stock Market Today : July 30th - August 3rd - Page 16

Thirteen thousand freaking even........

That should match the headlines.

 

That's a loaded question.  Each day is unique.  My biggest suggestion is to take some profits off the table for insurance.  It also depends on what your target is, how long you're willing to wait to hit it, and if you have a portfolio to sit thru the ebb and flow til it gets there.  Market conditions can affect the day to day trajectory.  Wish it were as simple as a stock moving straight to our target.  But with high frequency trading systems, basket trading, and statistical arbitrage, that doesn't happen.

 

"but, but, Mr Nyse, I sold that for a very good price; No, no, I don't want to buy it back, Look Wait..."

 

Any sellers here, ever been snake-bit by such cancels?   (i could imagine it happens with the penny-stocks all the time?)

nice breakdown into the close.

ES is in a nice regression channel off 1262 June low to recent 1387.50 high, we are approaching middle of channel, tomorrow at close the lower TL is at 1346. Coincidentally, or perhaps not, the 1 hr POC is at 1347. Would love to see a medium volume dip to that level, would most likely add to some miners and maybe get into some swing longs, if it looked like a non-threatening pullback.

TF approaching one of my favorite inflection points of all time, at 768.4, the Oct 2011 high, it has been a huge magnet for moves that go too far from it, especially moves above it. Just a pt away.

Bring on FSLR 20.00 ..... Been talking about it for weeks on here.  They report yet?

 

EDIT: There it goes.

Nice afterhours on SPY

 

It's a slugfest ladies and gentlemen. 

Glitches where you see a fat finger trade and there's a high or low left on the stock thats way out of line with the current stock price, Ameritrade would not issue a margin call because it was only for a split second. In today's case where many stocks opened up a prices and stayed/traded in that range for half an hour or somewhat of an extended amount of time and not just one instant, Ameritrade probably would have called you, told you to close it out or put up more collateral. If not, they would have liquidated it tomorrow or something. Usually they give you some time.

 

 

http://blogs.barrons.com/techtraderdaily/2012/08/01/fslr-jumps-15-q2-rev-eps-beats-big/?mod=yahoobarrons

 

ANF getting hit here and so is WTW .

VIX is slightly up, and VIXC is down.

 

TSX finished down with a slight increase in volume, at the 50% mark of the previous move up. It might also be sitting on top of a trendline, but I can't say for sure that I drew the line correctly (though I hope that I did). Intraday charts aren't looking too clear but I'd call them more bearish than bullish (for now), but after the first hour of trading it should become clear where we're headed.

 

SP500 is at 1375 which has been my target for the pullback this week. Applying SPY volume to the SP500 daily chart, I get a bullish picture. However, SPY itself is more bearish than bullish. Both SPY and SP500 look overextended on intraday and are due for a retracement up, which can turn out to be a beginning of a rally. At 20:00 the futures are slightly up, and the afterhours SPY has been climbing slowly up from a very nice inverted hammer.

 

That's about all I look at. I have a bullish feeling for tomorrow, but I don't know if it's real - I do have a long position after all. 

 

Hoping that the Euro meeting will bring some bullish news tomorrow... and why not? Their vocabulary isn't vast enough to include bearish terms. 

well i've already thrown up about 3 times since cmg had earnings. 

 

SPY is in a nice channel right now and I believe that 140 is easily attainable. However, it seems like for the short-term, we may be going to be hitting the lower trend-line at around 134 this or early next week. The thing is that the last two candles are showing us as being flat so far and the move to 134 might not happen. To hit this level, we would need a nice long red candle tomorrow. If that were to happen tomorrow or Friday, I'd hope to see an EOD RYFOR.

Pretty obvious, but a bounce for SLV looks to be in the works for Friday.

all eyes on ECB.  Draghi opened his mouth, everyone wants to see how he will back it.

Talk is cheap... unless there has been a breakthrough in their studies of alchemy. The market has shown great patience, for a junkie, this week waiting for it's new more powerful drug. Expect to see some rapid expansion after all this contraction. Hopefully the fireworks go out all at once, lol. At least the ECB is early for the US timezones, no waiting until the afternoon for nothing. Market holding up though, wants higher, wonder if it will end up ignoring any ECB fluff or news. 

 

 

Slightly trending down though:

 

Edited by rmejia - 8/2/12 at 7:59am

KCG -57% .... in the $2's now 

Suck it Knight Capital Group (KCG). Skewered.

lol, yea KCG got roasted. So Draghi "may" do some stuff in the coming weeks. Market seems to be reacting rationally so far. Any measures taken will be long term, can see 4 more years of this slow "growth" in my fuzzy cloudy crystal ball.