Prepare For Nasty Action Next Week As "11th Hole" Is Released This Monday

Discussion in 'Trading' started by shortie, May 14, 2010.

SPY Next Week

  1. Bullish

    22 vote(s)
    34.4%
  2. Flat

    8 vote(s)
    12.5%
  3. Bearish

    31 vote(s)
    48.4%
  4. I prefer not to say

    3 vote(s)
    4.7%
  1. That would be ideal.

    So the set-up is to buy the gap and wait for the retrace then double sell to be net short for the retest of the low. Cha-cha-cha-chinggggg!!!!!
     
    #21     May 16, 2010
  2. piezoe

    piezoe

    This year we have a U.S. election in November, so i'm guessing the market will have to break with its September tradition to give a boost to the party in power..
     
    #22     May 17, 2010
  3. S2007S

    S2007S

    China off 3% tonight!!!!

    Officially in a bear market!!!!!


    Expecting much volatility this week, who knows maybe even another trillion dollar bailout for europe.
     
    #23     May 17, 2010
  4. S2007S

    S2007S

    Mentions 1132 will be tested in the next 2-3 sessions, its being tested right now at 1123, im thinking you can see this market go into a total free fall, spx breaking 1000 over the next month or so is certainly not out of question.



    Charts: Look for S&P 500 Support at 1,132
    Published: Friday, 14 May 2010 | 12:25 PM ET
    Text Size
    By: CNBC.com



    The S&P 500 will fall toward 1,132 points in the next two or three sessions and then start a "large sideways movement," Bill McLaren, independent trader, told CNBC Friday.

    "We're going to see a two or three day move down, if not starting now it will be early next week. We can look for support at 1,132 (points)," McLaren said.

    The S&P [.SPX 1135.68 -21.76 (-1.88%) ] will then recover the dip and begin "a large sideways movement," he said.

    "The dominant cycle now is a five-year bear cycle that started in 2007 after the 2007 high," he said.

    In the next six months the high of 1,220 points and the low of 1,060 points will both be tested, according to McLaren.

    The overall bear trend will last one and half to two years, he added.
     
    #24     May 17, 2010
  5. S2007S

    S2007S

    *OIL
    70.17 -1.44 -2.01%
    *GOLD
    1233.30 +5.90 +0.48%
    KEY CURRENCIES
    EURO
    1.22 -0.0081 -0.65%
    BRITISH POUND
    1.43 -0.01 -1.35%
    YEN
    91.89 -0.41 -0.44%
    U.S. TREASURIES
    10-YEAR NOTE
    3.40 -0.05 -1.55%
    FUTURES
    *S&P FUT
    1121.70 -13.60 -1.19%
    *DOW FUT
    10497.00 -112.00 -1.05%
    *NAS FUT
    1888.50 -21.25 -1.11%
    MAJOR ASIA INDICES
    *NIKKEI
    10229.02 -233.49 -2.23%
    *HSI
    19646.00 -499.42 -2.47%
    *CHINA
    2617.69 -78.93 -2.92%
    *S&P/ASX 200
    4483.20 -127.90 -2.77%
     
    #25     May 17, 2010
  6. what is the 11th hole? i cant view the vid on my phone.
     
    #26     May 17, 2010
  7. Dang futures are almost positive. I was hoping for some excitement. :D
     
    #27     May 17, 2010
  8. The invisible hand came back into the market with Europe and Futures are looking much, much better. Thanks, Banana Ben!
     
    #28     May 17, 2010
  9. Nah, it's all BP's fault. They were able to come up with something to capture the oil. Plus, gold was too high. It had to come down.
     
    #29     May 17, 2010
  10. Last night futures were down in double digits, was it a dream?
     
    #30     May 17, 2010