If you're short, I'm the sucker going long....: if this breaks

Tuesday, May 5, 2009

if this breaks

the target is 89.70 the volume died and we seem to have gone down...

struggling with that 900 support resistance.

17 comments:

Tony said...: Yup, on my blog I said 89.50 if it breaks below 90.07 (which is the pivot, funny how that works.); May 5, 2009 at 1:49 PM
Eric said...: market seems unsure, the tick rate on that false break out was huge...

to be bearish... we want to see it turn negative.; May 5, 2009 at 1:54 PM
Tony said...: SPY 90.40 is short term resistance and a break above that could end my thesis for today.; May 5, 2009 at 1:54 PM
Eric said...: I'm warming up to your top...

things were crazy yesterday. me Toooooo!!1; May 5, 2009 at 1:56 PM
Tony said...: I don't have the exact volume numbers, but it seems light. The end of day upmove yesterday had the best volume of the day and who know what will happen today...

Don't short a quiet market. The "smart" money may come in and buy this sucker.; May 5, 2009 at 2:05 PM
Tony said...: Man, I thank Brian Shannon has taken over my keyboard. Was that a hedge or what?; May 5, 2009 at 2:06 PM
Tony said...: What do you see in GENZ short here at 54?; May 5, 2009 at 2:25 PM
Tony said...: Bingo on the SPY.; May 5, 2009 at 2:28 PM
Eric said...: watch for a trap on the spy.

you could see 53 out of genz

watch the Pennant.

it's bearish but there is high volume on the 22nd.. could be a bottom; May 5, 2009 at 2:35 PM
Tony said...: Good call on the trap. Maybe bears are covering every chance they can get.; May 5, 2009 at 2:53 PM
Eric said...: Carefull both ways... a good trap is a Head and shoulders or inverse.

so.. maybe that is half the trap... or she is still going to break down; May 5, 2009 at 2:57 PM
Tony said...: This should make a move before close, my bet is down.

Risk management. Too many head fakes.; May 5, 2009 at 3:13 PM
Eric said...: t- say.... maybe, one more push

I say:
assets to 1 didn't play out so no 3 push pattern to 950...

we will see, but we are close; May 5, 2009 at 3:21 PM
Tony said...: This beast won't roll over. I want to see XLF above 11.70.; May 5, 2009 at 3:43 PM
Eric said...: see the weak ass volume?; May 5, 2009 at 3:44 PM
Tony said...: Pisani: "Sideways is great for bulls." Volume tells me that nobody's buying it and coupled with overextended run, this looks more like a short term pb still to me even if just part of a consolidation. But what the hell do I know?

Wait and see. Cannot short this mess too much, but my swings are now net short having taken profits in some long positions.

APOL relies on student loans and I just don't see that model as viable.; May 5, 2009 at 4:10 PM
Eric said...: did you see the GENZ pennant?

it's from the 22 to friday,

and the other side is like 15 days ago to the recent high.; May 5, 2009 at 4:13 PM

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