I find this amusing

Look at the posts by the posters... Everyone flipped on a pole... Former bulls now bears, former bears, now bulls... Heres the thing.. if you weren't long at the bottom and weren't short at this top.. well watch your flipping... I should add that I've flipped from bear to bull.. and I really need to go back and reassess that because it didn't stop where I thought it would. Probably need to take a day off from trading and see if it continues where I think it does or whether I need to completely reassess.

Edited by dcengr, 16 July 2010 - 04:56 PM.

DC, this is a mediocre comment considering the market moved 90 points up and 35 points down. These are very large moves worth flipping and NOT holding into them.

Edited by arbman, 16 July 2010 - 04:55 PM.

DC, this is a mediocre comment considering the market moved 90 points up and 35 points down. These are very large moves worth flipping and NOT holding into them.

Well its human nature trying to 'fade a move' instead of 'riding the trend'.

This was a big move down.. trying to fade this move like I was.. I should slap my wrist on that. And I'm still bullish thinking.. Sure it can flip, but a powerful thrust tends to continue. I know this.

All I know here is that the market still has one chance on Monday to recover over 1080 and IN FACT the closing equity P/C on CBOE was very heavily skewed against a crash protection! Fed will inflate on Monday, but I cannot tell you whether it will be enough, I only know to avoid being on the wrong side when it begins and I know my critical levels to watch, the rest is just the part of the game... They may choose to inflate the heck out of the market on Monday with a gigantic gap up and trend day, but it is likely to be the least effective as the bullish sentiment will come back very quickly. I think it is more effective to rally intraday in the last hour. They can build on that trend on Tuesday then...

Swing traders like myself or retail traders/investors for that matter *generally* pay more attention to EOD prices rather than intraday price movement.

If we had closed at around 1068+ I will still be a buy right now.

So considering that - why didn't they inflate today in the last few minutes like they generally do?

Manuj

All I know here is that the market still has one chance on Monday to recover over 1080 and IN FACT the closing equity P/C on CBOE was very heavily skewed against a crash protection! Fed will inflate on Monday, but I cannot tell you whether it will be enough, I only know to avoid being on the wrong side when it begins and I know my critical levels to watch, the rest is just the part of the game...

They may choose to inflate the heck out of the market on Monday with a gigantic gap up and trend day, but it is likely to be the least effective as the bullish sentiment will come back very quickly. I think it is more effective to rally intraday in the last hour. They can build on that trend on Tuesday then...

NYSE MCO closed right above zero today, generally a rally from this close can be still considered in the bull territory. OTOH, I think they tried to rally in the last hour, there were a few 50k blocks in the futures in the last hour, it wasn't enough to trigger a short covering rally though. Per that metric and as I said, Monday is the last chance to save this market from going to new lows and it may happen FAST.

I'd rather be a trader than a bull or bear.

NYSE MCO closed right above zero today, generally a rally from this close can be still considered in the bull territory. OTOH, I think they tried to rally in the last hour, there were a few 50k blocks in the futures in the last hour, it wasn't enough to trigger a short covering rally though. Per that metric and as I said, Monday is the last chance to save this market from going to new lows and it may happen FAST.

I too was waiting for some short covering in the last 45 minutes. When it came, it was extremely light as you say G, then continued down a bit. I had planned to not take a position until I saw what the early part of the cash market on Monday brought but, based on seeing what you described G, I decided with a few minutes left before the close, to take a block of SDS. Sure there may be a pop but, I'm expecting more to come on the downside. When it appears the pop is over, if the scenario I'm envisioning plays out, I'm going to supercharge from there with some TZA. If I feel at some point I'm wrong, I'll just cover the SDS and decide whether to take a block of IVV or wait further instructions from the market.

Edited by milbank, 16 July 2010 - 08:11 PM.

mil, I am pretty sure the closing prices will be revisited, if not lower on Monday... I wonder you can actually make the stock market go up ahead of a depression though!

Swing traders like myself or retail traders/investors for that matter *generally* pay more attention to EOD prices rather than intraday price movement.

If we had closed at around 1068+ I will still be a buy right now.

So considering that - why didn't they inflate today in the last few minutes like they generally do?

Manuj

All I know here is that the market still has one chance on Monday to recover over 1080 and IN FACT the closing equity P/C on CBOE was very heavily skewed against a crash protection! Fed will inflate on Monday, but I cannot tell you whether it will be enough, I only know to avoid being on the wrong side when it begins and I know my critical levels to watch, the rest is just the part of the game...

They may choose to inflate the heck out of the market on Monday with a gigantic gap up and trend day, but it is likely to be the least effective as the bullish sentiment will come back very quickly. I think it is more effective to rally intraday in the last hour. They can build on that trend on Tuesday then...

I noticed that a large number of stock closed on the dollar, right on the penny give or take. That is opt exp. working like a magnet no?