Stock Market Today - Intraday discussion - Page 6597  

As expected, markets seem to be taking a loss today.

Quote:

Originally Posted by hedgegod 

As expected, markets seem to be taking a loss today.

You up a million dollars on that surefire bet? LOL

At any rate, selling is light.  However on volume expansion of the selling, I can see a retrace to SPY 123.90 area.

That morning surge was a short squeeze. Overnight shorts willing to take a small profit covered this morning, forcing the shorts that expected a bigger gap down to cover when it bounced over 1250. Then that made the longs want to exit for a nice profit, but no one wanted to buy so it came down fast back to POC.

SPY attempting a bounce here off the bottom trend line.

Quote:

Originally Posted by hermanpu 

That morning surge was a short squeeze. Too many expecting gap down hard and when it bounced over 125 on SPY there was buy stops. Then that made the longs want to exit for a nice profit, but no one wanted to buy so it came down fast back to POC.

Possible, but I also think that a lot of investors got very excited last night when the came home from work and saw the Dow +500.

First thing they did was call their broker and tell him to buy all the stocks they have been watching.

Quote:

Originally Posted by hermanpu 

That morning surge was a short squeeze. Overnight shorts willing to take a small profit covered this morning, forcing the shorts that expected a bigger gap down to cover when it bounced over 1250. Then that made the longs want to exit for a nice profit, but no one wanted to buy so it came down fast back to POC.

You lookin' at a 1 day chart or a 2 day?

EDIT: Nevermind, I see the 1 day POC.

that's what I was thinking as well....carryover from yesterday

 

Quote:

Originally Posted by StockJock-e 

Possible, but I also think that a lot of investors got very excited last night when the came home from work and saw the Dow +500.

 

First thing they did was call their broker and tell him to buy all the stocks they have been watching.

 

Crude still showing weakness... especially on natural gas numbers... About to lose 100 per barrel

Morning support test.

Internals getting pink

Quote:

Originally Posted by StockJock-e 

Possible, but I also think that a lot of investors got very excited last night when the came home from work and saw the Dow +500.

 

First thing they did was call their broker and tell him to buy all the stocks they have been watching.

 

Scary thought .... but it's so true. 

Rock, when I say POC, I'm not really looking at any data lol. I'm just assuming that 1250 level would be support/resistance.

I use POC a lot, but it is always mental. I just remember from watching level 2 all day where the POC might be.

Taking profit on my puts bought this morning, holding the ones that are underwater from yesterday, creating a spread with them for a longer term hold into next week.

We've had a 800 point run up in a straight line, I think a pullback of 100 pts at least should be in the works.

Quote:

Originally Posted by hermanpu 

Rock, when I say POC, I'm not really looking at any data lol. I'm just assuming that 1250 level would be support/resistance.

 

I use POC a lot, but it is always mental. I just remember from watching level 2 all day where the POC might be.

 

Taking profit on my puts bought this morning, holding the ones that are underwater from yesterday, creating a spread with them for a longer term hold into next week.

 

We've had a 800 point run up in a straight line, I think a pullback of 100 pts at least should be in the works.

Ya, I snagged some TZA a little while ago.
 

Retail lately is probably conditioned to derisk on the rips. The last few months with europe news coming in and taking away every rally has them on their toes. If I was retail, I would be calling in some liquidation of risky assets and into "safer" places like muni bonds.
Quote:

Originally Posted by StockJock-e 

Possible, but I also think that a lot of investors got very excited last night when the came home from work and saw the Dow +500.

 

First thing they did was call their broker and tell him to buy all the stocks they have been watching.

 

check out the heat map for the morning. By the way its 12/1  that means Santa is coming to town

Out of my small TZA position on that dip.  I don't like the idea they run this a little higher before exhaustion.

Sold the 122 puts against my 130's on SPY for December.

Not a bad risk reward, spend about $4 per contract for a potential $8 payout in 2 weeks on a 2% move down.

Profit if we hold here at expiration would be 25%

Energy was Bright green on the way up to these levels and Crude repeatedly failed to make new highs with the S&P... That sector looking mighty red right now... I'd watch out below!

Hey gang i actually have been doing real work the past few days and not much time on the forum..The only position i had was short the VIX and covered yesterday waiting for the market next move..Tomorrow is the next lunar date so maybe something will happen next week...

Ahhh... yes... its amazing what a new month brings...

Germany's Merkel tells paper believe Euro-bonds wrong solution and harmful at this stage

Germany's Merkel says to protect ECB independence we must address the causes not just the symptoms of the debt crisis