MASSIVE short covering in stocks.

Discussion in 'Trading' started by dealer, Apr 16, 2007.

  1. S2007S


    volume on qqqq is pathetic, closing in on 70,000,000, avg volume is 124,000,000
    #31     Apr 16, 2007
  2. a higher cpi tomorrow should be berry berry interesting :)
    #32     Apr 16, 2007
  3. Ordinarily I would agree with you, and you may be right, we'll find out tomorrow. There's no guarantee that it will be higher, as some here are assuming. In any case, this market has gone almost straight up in the face of tons of negative news. Things that ordinarily would have hit the market hard.

    Foreign markets are leading the US market right now. Global growth is excellent and US equities are locked on to that, not the latest statistic from the Federal bureaucracy. Combine that with the NYA index and others blowing through resistance levels and "dealer's" very accurate comments on short levels and you've got a powerful rally.

    Another thing that helped the rally today, Greenspan's statement that US growth will be supported by the world economy:
    #33     Apr 16, 2007
  4. your words are literally the party line of 'bulls late to the party'.

    regardless, I'm neutral right now. That means I'm buying puts at these levels as well as staying long. In essence, a perfect point to straddle. May 1475s are cheap. Additionally, I bought the soon to expire apr 20 es 1475 straddles for a quick play. just need a decent move either way.

    I'm hoping that some big guy wants these futures to expire hopefully far away from where they are at today.
    #34     Apr 16, 2007
  5. MattF


    although I primarily follow the E-Minis, one report I have calls for the S&P to hit 1490 in the next couple of days...and today was called perfectly.

    It may not just be the CPI tomorrow; Housing Starts & Building Permits also are released followed by Industrial Productions & Capcities a few minutes later...a perfect blend of reports that a market can get driven up upon if remotely positive :)
    #35     Apr 16, 2007
  6. stktrdr


    we will see 1500 in s&p futures today

    we will see 13000 in dow futures today
    #36     Apr 17, 2007
  7. TODAY?

    It's one thing to be bullish, it's another to be euphoric!

    #37     Apr 17, 2007
  8. LOL...He's looking for 1600 by Friday.
    #38     Apr 17, 2007
  9. What's not to like?? Daily gap ups and the market just goes up in a straight line? Why can't people seem to enjoy the good times!! GO MARKET!!!
    #39     Apr 17, 2007
  10. I think you just jinxed yourself
    #40     Apr 17, 2007