"Weekly Poll: SPY Is Stuck at 110" was not stuck there for very long after i initiated this thread Monday EOD SPY 112.7
It seems to me that market acted as if waiting for some news tomorrow? Any Fed meeting, or any major news coming soon? My reading of it is: if news is good then gap up and then down. If news is "bad" then down with possible trap for bears who would short on move/gap down?
Motor Vehicle Sales[Report][djStar] ICSC-Goldman Store Sales [Bullet7:45 AM ET Personal Income and Outlays [Report][Star]8:30 AM ET Redbook [Bullet8:55 AM ET Factory Orders [Report][Bullet10:00 AM ET Pending Home Sales Index [Star]10:00 AM ET 4-Week Bill Auction [Bullet11:30 AM ET
What is the chance of this: The effect of the news after the open cancelling the effects of the news before the open. Did you notice the RedBook at the center ? . Traders hate redbooks.
. Could I give him my address to drop the green? I will tip him for the delivery. Did you guys ever have the remorse after a buying/selling? I shorted some QQQQ calls (entry was good), but did not cover them, as they were marginally in the green, but I am now thinking whether it was the smart thing to do. My thinking has been that the QQQQ might suddenly fall tomorrow to the 46.15 area, and I wanted to be in before then. If QQQQ goes up at the open, I might feel like a dumb person, particularly given my current assumption that the bulls would buy retreats until they are defeated. What do you guys think of my potentially stupid trade?
Futes are down pre market this morning so you migth be ok. Do you want stupid? Yesterday I had an order to buy SPY Puts at 1.30 they were trading around 1.35. I placed the order so that I could quickly change the price without having to enter the whole order as I waited for an entry point. The ISM report came out at 10am and my order was executed. The puts closed at around 1.00
Good morning. Just a reminder to everyone to not forget to monitor the dollar, or major currency of your choice relative to the dollar. Someone comented on USD/JPY Yen here yesterday, and I note that the USD vs. the Yen is approaching a major swing low of 84.79 made on Nov. 26th of 2009. DX is coming into some major support near 80. (its at 80.67 at this moment) The Euro is about to see overhead resistance at 1.32-1.37. Will support for the dollar hold? That is an important question as it relates to the probability of the market retreating or continuing to advance. After yesterday I suppose the market will just hang out here or move down a little while it catches its breath, and waits to see if support for the dollar holds. Good trading to everyone.
*OIL 82.18 0.84 +1.03% 4%+ rise in oil since yesterday. Do I hear $85, $90, $100 big ones. No need to worry, start putting on your oil shorts very soon, oil cannot sustain these prices in this weak economy.