Looks like it has moved into a faster trade channel Premarket the stocks look GRIM. Seems like it has moved into it's 3rd wave.
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Tuesday, July 15, 2008
the skf in premarket
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15 comments:
I like your music.
What does the 3rd wave mean?
Don't know what to do this morning. Again afraid to be long or short (with new positions; OK with existing ones).
third wave means we are accelerating..... It means that more people are adopting a trend.
we have a nice bounce right now as uncle ben is talking... I think it is a good chance to hit the skf when it breaks down.
I think Clearing shorts at 40 some on Vix is going to be a plan.
I'm having a hard time geting data.
beard: Inflation to rise, and oil in tight supply.
Ouch.
Right now I like the SKF at about 200 maybe even 204
It looks to break to the downside.
if my charts are even vaguly reasonable.
The vix spike into the 30's looks to create a bounce(which is probably shortable). and the Vix is "downtrending." when the Vix starts uptrending. time to make a short trade.
We haven't even hit 10700 yet I doubt any nearterm support till then
I exicuted a trade when we got to the 193 level...
Oil liquidating makes me nervous....
seems like an exit at 192 would be a good idea.
Oil broke. Must rally some!
It's dangerous... I feel like I'm chasing a bank trade.. and I'm the last guy to the Water fountain.
So you're shorting this bounce or will it last for a few days?
I exited SLW and covered HRB, just in time. Whew. Suddenly tired.
I'd get out and wait
we should see some resistance here at 11K. It's all about the 192 level in the skf, if it breaks we will rally back up....
Sentiment was very negative this morning....
that 11K and 1220 level was important, and we had to retest it...
we also had to gap fade, and retest the trade channel
Oil guys will be all over oil at 136.
it's still a "Buy the dip" in oil
this is a great place to short and get out if we get back to 11k....
But D-fence wins the game. That is the first Weakness we have seen in Months. But 11k broke down so fast.
This market wants to be at 10500
here I am trying to convince myself
:)
Theoretically oil breaking down should help. If we don't close strongly, I'll short the cubes.
FSLR is behaving today :)
Wow.... well here is some short covering.
HOW did Bernanke manage to scare just about everyone? Amazing, he's got a gift.
This makes me Feel Very good...
(like we arn't going to crash)
I like when 2 trends line up.
If we get "Buy the Dip" in Oil,
followed by "buy the Short" in financials"
(maybe)
Followed by some bear euphoria in the next few days...
and some real fear. or even a lockup in the credit system.
some Oil talk about $200 after hitting 150.
we can make an important low.
I'll give you another one... we need the 30 year bond to move when we make that "Fear trade" when the 10 and 30 start moving.... that is when there is "Terror".
That the dollar looks so Bearish, and that oil looks so bullish.
and gold... it just says such nasty stuff.
I have an upside target of 123.5 roughly, then I expect they will try and sell it into the close.
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