10 replies to this topic

[NAV]

I initially thought it was a bad stick. Now don't tell me that the big guys who were buying this yesterday didn't know this coming ! Holy....

It's one kickass Island reversal

Edited by NAV, 17 August 2007 - 07:27 AM.

[atlasshrugged]

I initially thought it was a bad stick. Now don't tell me that the big guys who were buying this yesterday didn't know this coming ! Holy....

It's one kickass Island reversal

if you remember 2001 when they did the first surprise lowering this was the only time the mkt reacted this strongly...like today we rally right into overhead resistance. The highs hit today will be the final highs for this move

[ogm]

I initially thought it was a bad stick. Now don't tell me that the big guys who were buying this yesterday didn't know this coming ! Holy....

Of course they knew.. banks bottomed several days in advance, and the whole financial sector turned around yesterday on giant volume.

So... if you're fully short in anticipation of a global meltdown and the end of the world....
What do you do TODAY ? Do you ride it out ?



btw, its OPEX too. So many puts were in the money....
and its Friday... anyone wants to stay short over the weekend ?

Look for the short squeezes in CFC, TMA, RAS, NCT, KFN, LEND....

Edited by ogm, 17 August 2007 - 07:35 AM.

[steve]

The open interest on the SPX 1400 option which expires at 8:30 am when the markets open today had a 90,000 contract increase just yesterday. These were the so called "boys" that set shorts and will get nailed on the open.

[ogm]

I initially thought it was a bad stick. Now don't tell me that the big guys who were buying this yesterday didn't know this coming ! Holy....

It's one kickass Island reversal

if you remember 2001 when they did the first surprise lowering this was the only time the mkt reacted this strongly...like today we rally right into overhead resistance. The highs hit today will be the final highs for this move

But... in 1998 the cut marked the bottom.

That said, they didn't cut THE rate.. they cut the "discount window" rate.

Which is a very smart move. And of course the door is open now for the main rate cut.

What is more important... the Fed is acting and is ready to act more if needed.

So, if you're short here.. keep in mind that the next one may be the main rate cut.

And of course there is a meeting coming up on Sept 18th... I think untill that meeting the market will stabilize. Because right now there is a real danger on the short side that there will be a rate cut there.

[Tor]

NAV what is an "island reversal" and its impact? these short squeeze...so interesting. thanks.

[NAV]

NAV what is an "island reversal" and its impact?

these short squeeze...so interesting.

thanks.

http://www.incredibl...nd_reversal.htm

[thespookyone]

"Now don't tell me that the big guys who were buying this yesterday didn't know this coming ! Holy...." I'm coming in flat-but the game hasn't changed a tiny bit, eh?

[securelstmile]

I initially thought it was a bad stick. Now don't tell me that the big guys who were buying this yesterday didn't know this coming ! Holy....

It's one kickass Island reversal

if you remember 2001 when they did the first surprise lowering this was the only time the mkt reacted this strongly...like today we rally right into overhead resistance. The highs hit today will be the final highs for this move

But... in 1998 the cut marked the bottom.

That said, they didn't cut THE rate.. they cut the "discount window" rate.

Which is a very smart move. And of course the door is open now for the main rate cut.

What is more important... the Fed is acting and is ready to act more if needed.

So, if you're short here.. keep in mind that the next one may be the main rate cut.

And of course there is a meeting coming up on Sept 18th... I think untill that meeting the market will stabilize. Because right now there is a real danger on the short side that there will be a rate cut there.

In 1987 the fed opened the discount window which turned the market around if my stock market history is correct. I wasn't trading then. The cheif would remember his call for a very large rally day a few days ago was just a little off.

Best to you!

[arbman]

It is clear as a day, the big brokers did this to raise cash for themselves... They are making tens of billions out of this move... If not a hundred... I am actually quite pissed... But who cares... I should've bought more than a scalp yesterday... - kisa btw, can you imagine being one of those naked option writers from 2 days ago, especially on OEX... crazy, just plain crazy... Boyz always get their bail out, the hedgies get the middle finger LOL