Stock Market Today - Intraday discussion - Page 6754  

I'm seeing metals weak, miners breaking down here also. GLD about to go red, missed my entry for puts :(

Unbelievable.....good Philly numbers and we sell off? Market seems to want to force the Bernanke into QE3.

 

Must be a downgrade in Europe. Anyone have the info?

Premiums on next week's SPY calls are so incredibly low, IV is way under 20 on all contracts, looks like they are absolutely begging anyone to open longs right now. Caution... this quickly is looking like it was just an oversold bounce out of a SPY falling wedge.

ED: Example, the calls 1 strike in the money expiring NEXT week are charging less premium than the puts 2 strikes in the money expiring THIS week. Insane!

In BHI 45x December puts at .38

I just patially faded that open and covered... and again I didn`t want to get greedy$$$$$$

 

Hope these work out for ya,  Expiration is tomorrow,  anything is possible.
 

 

You really want to see when the market moves up or down..Forget the news follow this it mirrors the S+P....

 

http://www.fxstreet.com/rates-charts/live-charts/

 

Ah ok, I see what you are looking at now. Its tough to count the very small waves, but yes, if you are a little flexible, you could be looking at  a possible 5 wave structure here.

 

The next push over 1220 is possibly the 5th wave. Ill guess 1225 is our resistance on that leg.

PS - Latest round of rank upgrades is out.

FSLR down over 8% now...

 

Sold my puts at .75 for a 177% profit 

Thanks

 

That is exactly the strategy they big money guys will be using.

 

They need the Fed to rescue this market so they can sell at higher levels.

 

We saw what they did after the Fed meeting where no hint of QE3 was given. Not that any of us here actually expected any QE3 mention at all, but the big money was saying "Look! Look what happens if you do not come save us!".

 

 

 

So effectively it's Hedge Funds vs. The Fed in a Steel Cage Death Match?

 

 

 

Just waiting on the S&P to do their worst... My bet its today the downgrades start flying.

with expiration being tomorrow,  and knowing that the market has been seeing some wild swings,  I may try a gamble on the ORCL December 30x calls as a lotto at .08.  I think she might have found support and is about to turn.

 

At what point does the Fed cry uncle? Probably when it's too late for the necessary liquidity to be an effective tool?

 

 

nevermind,  she fell through LOL

No, not at all! Its more like this..

 

IMO, the only reason the Fed has not launched QE3 here is that the market is too high.

 

If we were at 1100 or below, QE3 would be rolling out this very minute.

 

 

 

Good luck, I was hesitant to buy the puts because of the 100 ma support. But it's breaking down on high volume so I went ITM to be safe. Playing out so far, up about 30% on my puts so far.