Even though I know all of this is planned, as Goldman was probably already short their own stock, (before they released the news), it still feels good to see those jerks in trouble!
Looks like that was it for the day. I did go short with a vertical put spread, buying the 118 May put and selling the 113 May put for $1.04 per contract.
Gang, I think we can go a little bit higher here. I think 120.05 spy is possible. That's from looking at charts of course, which haven't been working a lot lately, but that also lines up with 1200 spx, and I think they want to take it there again.
I don't think it will hold, as I do believe this is the moment we bears have been looking for. I think Monday will close down, and the whole next week will close down.
The first resting area should be around the 50 day moving average (currently around 1140 spx, but a pierce of it is to be expected.
If all goes well, I'll close out my shorts on the pierce, and wait a few days for some consolation and small bounce. I'll then re-enter with new shorts, with a final target down of at least 107.38 spy, but with the down momentuem, I'd expect more like the 105 area before stopping.
Then, I'll look to go long into the summer months, expecting a final high of Dow 11,816 area. That's the plan, but it never really works out that way. Wishful thinking though…
I think we are going to rally for a little bit longer today, but I see Monday as the start of the big fall. A lot of people are going to be fooled on Monday I believe.
The last chance to get short is today… at least I believe it is before we hit a temporary resting area around 112-113 spy.
Of course we all know the finally bottom, before a rally higher, but I'm looking for a pause around that level… probably mid-late next week.
Yep – off to Vero Beach. Sold my vix calls at HOD but hanging onto the May puts. Will be back by Monday. Hope this isn't a one day thing but don't think it is.
That would really hurt! I've never done that, and never will. I'm not the brightest crayon in the box, but I'm not the dullest either.
Looks like we are rallying a little now. I'm probably going to get short with a 118/113 put spread, or a 117/112 put spread (May of course). I think this squeeze higher will be the last one for awhile.
Incredible how 1 day wiped out 2 months of gains on Goldman Sachs. Now that's how you steal billions of dollars from the retail investors!
IYR's goose is cooked
fakeout above red containment on wednesday, once yellow containment fails, long fall till light purple
http://www.flickr.com/photos/47091634@N04/45266…
GS weekly close numbers 159.26
close below there & it opens the door for the final harvest number of 135.24
Even though I know all of this is planned, as Goldman was probably already short their own stock, (before they released the news), it still feels good to see those jerks in trouble!
XLF is going to have it's largest volume day since March 09'
Looks like that was it for the day. I did go short with a vertical put spread, buying the 118 May put and selling the 113 May put for $1.04 per contract.
Now I wait…
Gang, I think we can go a little bit higher here. I think 120.05 spy is possible. That's from looking at charts of course, which haven't been working a lot lately, but that also lines up with 1200 spx, and I think they want to take it there again.
I don't think it will hold, as I do believe this is the moment we bears have been looking for. I think Monday will close down, and the whole next week will close down.
The first resting area should be around the 50 day moving average (currently around 1140 spx, but a pierce of it is to be expected.
If all goes well, I'll close out my shorts on the pierce, and wait a few days for some consolation and small bounce. I'll then re-enter with new shorts, with a final target down of at least 107.38 spy, but with the down momentuem, I'd expect more like the 105 area before stopping.
Then, I'll look to go long into the summer months, expecting a final high of Dow 11,816 area. That's the plan, but it never really works out that way. Wishful thinking though…
Good job Monica…
I think we are going to rally for a little bit longer today, but I see Monday as the start of the big fall. A lot of people are going to be fooled on Monday I believe.
The last chance to get short is today… at least I believe it is before we hit a temporary resting area around 112-113 spy.
Of course we all know the finally bottom, before a rally higher, but I'm looking for a pause around that level… probably mid-late next week.
Have fun at the beach girl!
Yep – off to Vero Beach. Sold my vix calls at HOD but hanging onto the May puts. Will be back by Monday. Hope this isn't a one day thing but don't think it is.
That would really hurt! I've never done that, and never will. I'm not the brightest crayon in the box, but I'm not the dullest either.
Looks like we are rallying a little now. I'm probably going to get short with a 118/113 put spread, or a 117/112 put spread (May of course). I think this squeeze higher will be the last one for awhile.