It will be interesting how the Credit Union Bailout posted on Zero Hedge will play out for financials Monday. Lets see if that double top plays off………..
A nice gap up to get the ideal short position on Monday would be sweet… and then start crashing the rest of the day. That would be perfect!
I do think that they will do a stop sweep above 1150 before they tank it… so that makes perfect sense too me. The old “Gap and Crap” move. The bulls will be fully loaded the long, and the bears won’t be positioned short at all, as most of them were wiped out today.
I expected a move up today, but not the kind of move we got. I was expecting about 1130-1135, not a double top. But hopefully, not too many of my bear friends were hurt on the move. Most probably closed out their shorts at the EOD on Thursday… I hope they did.
I suspect that after Mondays’ high, the rest of the week will be down hill. I hope it doesn’t gap down instead, as I’d rather see it gap up then fall off a cliff. We shall see…
Hey Jigsaw! I know, it’s kinda risky…I’ve been playing the bb bands and winning. These bands might work until NOV expire.
It turns out, I think China and Australia are actually working together.
Here’s an interesting article from Reuters. http://www.reuters.com/article/idAFN2114009320100921?rpc=44
DOW JONES Weekend Update
Googles’ FP at 52.55… that’s scary!
http://www.youtube.com/watch?v=HEPnIP1bKzg
SPY – Weekend update
We had an up day on Friday. So we an up day on Monday followed by three down days, with Fri. wiping out the losses to go higher. Yuck!
Hello Geccko23!
What is the “Cramer Code”?
It will be interesting how the Credit Union Bailout posted on Zero Hedge will play out for financials Monday. Lets see if that double top plays off………..
Red!Hi …
That sounds like a good thing to do to me, fade the gap up. I like it. More bang for the buck, If I fade OIH.
A nice gap up to get the ideal short position on Monday would be sweet… and then start crashing the rest of the day. That would be perfect!
I do think that they will do a stop sweep above 1150 before they tank it… so that makes perfect sense too me. The old “Gap and Crap” move. The bulls will be fully loaded the long, and the bears won’t be positioned short at all, as most of them were wiped out today.
I expected a move up today, but not the kind of move we got. I was expecting about 1130-1135, not a double top. But hopefully, not too many of my bear friends were hurt on the move. Most probably closed out their shorts at the EOD on Thursday… I hope they did.
I suspect that after Mondays’ high, the rest of the week will be down hill. I hope it doesn’t gap down instead, as I’d rather see it gap up then fall off a cliff. We shall see…
Hey Jigsaw! I know, it’s kinda risky…I’ve been playing the bb bands and winning. These bands might work until NOV expire.
It turns out, I think China and Australia are actually working together.
Here’s an interesting article from Reuters.
http://www.reuters.com/article/idAFN2114009320100921?rpc=44
Isn’t that cutting it kind of close Z? What if they take awhile to make another counter offer? Your only giving yourself a day before Nov Ops exspire