Jump to content



Photo

SPX 1142


  • Please log in to reply
34 replies to this topic

#1 arbman

arbman

    Quant

  • Traders-Talk User
  • 19,503 posts

Posted 07 January 2010 - 02:57 PM

I turned the accounts net short for a pull back at least. We rallied on negative breadth today, although the financials are leading up. The new highs look better, however we are at new highs with divergent new highs at this point as the breadth is also lagging today. BTW, the new highs had a higher highs but still less than Oct high. Without aggressive Fed printing, this market would have had its head handed to it this week, let's see when they will manage to unlock the supply from here...

#2 gismeu

gismeu

    Member

  • Traders-Talk User
  • 664 posts

Posted 07 January 2010 - 03:17 PM

OEX and RUT are close to P&F resistance. The question is, will they bounce off resistance or is the purpose so that they can gap up tomorrow morning and leave that resistance behind?

gis

http://stockcharts.c...t...38&cmd=show[s152890352]&disp=O
If you can't buy Happiness, STEAL IT!

#3 redfoliage2

redfoliage2

    Member

  • Traders-Talk User
  • 12,316 posts

Posted 07 January 2010 - 03:19 PM

I turned the accounts net short for a pull back at least. We rallied on negative breadth today, although the financials are leading up. The new highs look better, however we are at new highs with divergent new highs at this point as the breadth is also lagging today. BTW, the new highs had a higher highs but still less than Oct high. Without aggressive Fed printing, this market would have had its head handed to it this week, let's see when they will manage to unlock the supply from here...

Great! Just set up another batch of Jan. ES call spreads. If ES gets to your number tomorrow, I will short with no fear, that's the beauty of call spreads.

Edited by redfoliage2, 07 January 2010 - 03:20 PM.


#4 cycletimer

cycletimer

    Member

  • Traders-Talk User
  • 2,331 posts

Posted 07 January 2010 - 03:20 PM

I turned the accounts net short for a pull back at least. We rallied on negative breadth today, although the financials are leading up. The new highs look better, however we are at new highs with divergent new highs at this point as the breadth is also lagging today. BTW, the new highs had a higher highs but still less than Oct high. Without aggressive Fed printing, this market would have had its head handed to it this week, let's see when they will manage to unlock the supply from here...


Hey Arb!
Don't allow a crappy little rally to ES 1146 area scare you out of the trade! We could get as high as 1146-1147 ES before we sell-off. Good luck and GO BEARS!

(I am fully short via SPXU)

#5 tommyt

tommyt

    Member

  • Traders-Talk User
  • 4,909 posts

Posted 07 January 2010 - 03:22 PM

Without aggressive Fed printing, this market would have had its head handed to it this week the reality is, they are winning at this so far...and can't be ignored. A very manipulated game, put a ruler under the uptrend.

#6 fib_1618

fib_1618

    Member

  • Traders-Talk User
  • 8,951 posts

Posted 07 January 2010 - 03:40 PM

Without aggressive Fed printing, this market would have had its head handed to it this week, let's see when they will manage to unlock the supply from here...

It historically takes about 18 months (give or take a month) for anything the FED does to monetary policy to hit the equities market. With this in mind, it should be duly noted that we are now 16 months from the Lehman Brothers pump, so this same stimulus is due to hit the equity "shores" at any time.

Good skill to you on what's looking more and more like a "last stand" point for many traders right now.

Fib

Better to ignore me than abhor me.

Wise men don't need advice. Fools won't take it. - Benjamin Franklin

Technical Watch Subscriptions

Technical Watch Twitter Page

Technical Watch Facebook Page


#7 selecto

selecto

    Member

  • Traders-Talk User
  • 6,871 posts

Posted 07 January 2010 - 03:40 PM

Hey Arb!
Don't allow a crappy little rally to ES 1146 area scare you out of the trade! We could get as high as 1146-1147 ES before we sell-off. Good luck and GO BEARS!


1445-1446 is the zone of the measured move out of the
recent consolidation - tad wider with a fat pencil.

Achieving a measured move does not itself predict the thereafter.

Edited by selecto, 07 January 2010 - 03:41 PM.


#8 arbman

arbman

    Quant

  • Traders-Talk User
  • 19,503 posts

Posted 07 January 2010 - 03:52 PM

Without aggressive Fed printing, this market would have had its head handed to it this week, let's see when they will manage to unlock the supply from here...

It historically takes about 18 months (give or take a month) for anything the FED does to monetary policy to hit the equities market. With this in mind, it should be duly noted that we are now 16 months from the Lehman Brothers pump, so this same stimulus is due to hit the equity "shores" at any time.

Good skill to you on what's looking more and more like a "last stand" point for many traders right now.

Fib


Perhaps Fib, but this is also assuming a normal economy that responds to the monetary stimulus in normal ways. I do not think this is such a market though and the printing has been pushing the commodities since last summer. Fed printing has been spinning its wheels for some time now, this week's action made it obvious, gold is up substantially, yet look at the equities and the leadership. I think the financials are getting some help there, true, but Nasquack started to quack here. What we basically got since July rally is more inflation than growth and now USD is not declining because the rest of the world is not in any better shape, so much for the global economy hype. Fed's attempt to push USD lower helped gold more than anything... I think we are due a correction from here... We'll see, I think there are a lot of parallels to 70s...

#9 andiron

andiron

    Member

  • Traders-Talk User
  • 5,757 posts

Posted 07 January 2010 - 03:55 PM

es.png

#10 redfoliage2

redfoliage2

    Member

  • Traders-Talk User
  • 12,316 posts

Posted 07 January 2010 - 03:57 PM

... I think we are due a correction from here... We'll see, I think there are a lot of parallels to 70s... [/quote] Next week is the OpEx week and MMs will produce some wild swings especially after this long period of non-stop moving up.

Edited by redfoliage2, 07 January 2010 - 03:58 PM.