sudden volume, drop on SPY now

Discussion in 'Trading' started by noob_trad3r, Feb 8, 2012.

  1. how come? whats the news, nothing on my screens.
  2. euro just dropped also. I wonder if the Greeks are back.
  3. Yes, Greek rumors. Meeting of Greek PM and Government going on since 10 EST at the moment. At the same time, threats from Germany that they can "live without Greece in the EU"...
  4. euro going down fast heavy volume on SPY, price going down also.
  5. SPY is over extended. The Greek default is already priced in.
  6. nothing is ever priced in. If greece defaults SPY will drop hard.
  7. Bought Feb 135 puts @1.15 less than an hour ago and just sold half @1.5. Thanks volatility !

    Also long QQQ 62 Febuary puts @.64 and hoping to get a nice gain off these before expiry .

    Haven't seen bearish action like this in at least 5 days, and I'm betting this tips us over the edge to the bearish side for at least 2 days.
  8. Don't be so sure.
  9. 2nd this, negative news exhausted. Everything will be ok until Prez gets re-elected.
  10. I see the S&P 500 is down 4 points. Read that again. Now look at your reaction.

    So what have we learned from your recent posts. Well, you panic when the S&P 500 drops four points, yet you advise another trader ( whether fictional or not ) to hold a massive near month short position on AAPL as the position bleeds thousands of dollars every day.

    Are you also a big fan of Nitro and Grand_Super_Cycle ? Might as well go for the trifecta of stupidity today.

    Here's a more reasonable analysis. Recent market surge is being led by earnings stalwarts like IBM and AAPL, for example. You can see key areas of support and resistance on their intraday trading. If this rally is going to end, these stocks have to break down or at least stop going up.
    #10     Feb 8, 2012