Tag Archive for 'Dow'

Greece’y markets

Published on November 1, 2011, 10:18 pm in Trading. Closed Tags: , .

Crazy time for the markets…as soon as Greece farts, all the markets smell it! And boy is it getting stinky!

The Dow drops 800 points in 3 days, so we’re just back to where we were last week. The pop up never happened. I say let Greece fall into the Mediterranean Sea and forget about it!

Of course for daytraders, there have been plenty of opportunities for fast trades, both bulls and bears.

Maybe traders will pay some attention to U.S news for the next couple of days as we go through our monthly Employment reports. Wednesday we have ADP and on Friday, the biggie . . . and Thursday has the weekly Initial Claims. Let’s not listen so much to that Greece’y stuff.

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Boing!!

Published on October 27, 2011, 9:26 pm in Trading. Closed Tags: .

…talk about a bounce! 400+ points on the Dow during the day. But it did retrace 100 points at the close. Pullback tomorrow?

With the Eurozone finally deciding what to do about Greece, which stopped a lot of uncertainty in the markets…. they went all out to the races all over the world!

I’m looking for some consolidation, or pullback, or sideways action for a few days….which would be a good thing for getting more upside. Let’s go traders!

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Spastic

Published on October 26, 2011, 10:45 pm in Trading. Closed Tags: , , , , .

Crazy days in the market…up down and all around. On Monday we closed near the highs, on Tuesday near the lows and then near the highs again today. The markets are different things to different traders…hope they’ve been good to you.

Futures are taking off in the early globex session….up up and away! The Dow and Nasdaq are flirting with their 200-day average, while the S&P and Russell are working to move up and get close. If the Eurozone makes a decision we should fly. Otherwise, up, down, up, down….

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0 for 2

Published on September 9, 2011, 9:42 pm in Trading. Closed Tags: , , , , .

Y’know on Thursday we had two highly anticipated events. First there was a speech from Bernanke. Those of us watching the markets for a response from the Fed were sadly disappointed as stocks tumbled into the close. So I guess the Fed, or Ben specifically, is just setting traders up to take action at their next meeting Sept 21st.

But then the big one from President Obama took center stage Thursday night. He unveiled his jobs growth plan. As usual, he spoke well, but it may take some time for investors to research the true value of these concepts. And more so, how the hell do you get a congress to make the ideas law?

Since it will take a bit for traders to fully digest BO’s speech, they decided to regurgitate all over the markets as the indexes trended down all day….A/D volumes down big, TRIN at over +5, Dow down over 300 points…. the final verdict will become clearer over the next couple weeks.

Now let’s hope nothing crazy happens over the 9/11 weekend!

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Wipeout?

Published on August 15, 2011, 8:34 pm in Trading. Closed Tags: , , .

Three days in the green…we haven’t seen that since June. Well if you were a put surfer, it looks like the markets are here to WipeOut all those puts that were bought over the past 2 weeks! …in options expiration week no less. Expect more up and down to clear out calls as well as puts :!:

The last three days have given us the biggest three day percentage gain for the Dow since March of 2009. Today was the lowest volume in 2 and a half weeks…what a change of pace. But if we can grind up slow but sure, well, I’ll take it!

“They say the price of gas could soon be under $3 a gallon. Do you know what that means? You can now afford to drive by the house you used to live in, go by the job you used to have, and go see the bank where you used to have money.” — Jay Leno

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Quiet Friday of a wild week

Published on August 12, 2011, 8:35 pm in Trading. Closed Tags: , , .

We had a follow-thru day on the lightest volume in 2 weeks. Been a long time since we’ve seen that. Doesn’t say much though. Retail sales were good, but U of M Consumer Sentiment took a dive…but no one cared. The Dow “only” had a 200-point range…how boring! Looks like the bulls and the bears are tired.

Now it’s OpEx week. Will It Go Round In Circles just like last week? And along with OpEx there’s a lot of economic reports all week long: Housing Starts, Industrial Production, PPI, CPI, Philly Fed Survey, Existing Home Sales. We just may go round in circles.

C’mon markets, Don’t Let Me Down!

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Let’s try it again

Published on August 11, 2011, 11:31 pm in Trading. Closed Tags: , , , , .

We recovered everything we lost on Wednesday, plus a little bit more. During the day we even went higher than Tuesday’s high and close. There’s only one thing missing…a follow-through day! We haven’t strung together 2 up days in a row since early July.

It looked scary in the premarket as again trouble in Europe rattled traders. But rumors and facts started growing throughout the day that got traders juiced…although it was the lowest volume day of the week. But it also was the 4th day of 500+ range in the Dow…WTF?

The banks, after getting bitch-slapped yesterday, were the frontrunners to the upside today. Gold took a big dive as did U.S. Treasuries…and thus, interest rates via TBT went up.

Let’s see if we can string 2 in a row!

“The stock market had its biggest one-day drop since 2008. Remember how the experts said we had to raise the debt ceiling or the market would crash? Well, they were half right.” — Jimmy Kimmel

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Unexpected?

Published on August 8, 2011, 8:48 pm in Trading. Closed Tags: , , , , , , , .

I thought the bounce would start sometime by the close, but you can’t always get what you want! And the selling in the ES futures continued into the evening. ES has sunk below 1100 last time I looked.

I did nibble on some TBT calls at a time I thought they may have bottomed, but, no such luck. I’m still sitting in them, underwater. So you can say I had a bad day.

It was an incredible day….The VIX advanced 50%, and although I was looking to short the VIX, I sat on my hands. SPY down 7.5%, yes in one day. The Russell was down almost 9% and the “winner” today was the Dow, down “only” 5.5%.

Some sector ETFs really got bruised: FAS the 3X financial bull ETF was down 30%, so the financial XLF was down over 10%. But Bank of America, BAC was down 22%…ouch! Oil and technology weren’t pretty at all.

So is it time for Turnaround Tuesday? China has some announcements overnight and those European PIIGS are still a pain in the ass. And let’s not forget, it’s time for FOMC meeting and announcement. Gee, what are the chances of a rate hike on Tuesday? :roll:

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This should be interesting…

Published on August 7, 2011, 8:32 pm in Opinions and Trading. Closed Tags: , , , , .

After a 400 point range in the Dow, it ended up only 60 points. All the other indexes closed in the red. WTF?

Friday looked like massive margin calls and forced liquidations after the big run down on Thursday. Rumors began to circulate during the day that S&P was going to do what it finally did after hours…downgrade US debt. If the S&P knocked down the US debt, don’t they also knock down the holders of that debt?

Here’s the remaining countries with a triple A rating: Austria, Canada, Denmark, Finland, France, Germany, Luxembourg, Norway, Singapore, Sweden, Switzerland, and United Kingdom. How far can they go with having “superior” debt? Buffett Says Cutting U.S. Rating Was Mistake, Sees No Recession.

The first reaction I had (as if anyone cared) is pass off all the US “peace-keeping” duties to these countries and let them take care of “us.” And quit “loaning” money to other countries. And quit giving money to people that haven’t put any money into the pot (read as welfare) …freeloaders! Sorry, I digress.

Here’s the S&P Ratings Report http://stk.ly/nzkwsU. Interesting reading.

Ok, back to trading. I’m definitely going to tread lightly. Futures this evening gapped down big…ES down 35 points, Dow down 325 pts. They have recovered about a third since the 6PM open. I’ve put bonds and the VIX on my short list via TBT calls and VIX puts. The metals may be a good short also via DZZ and ZSL, but I’ll put them in second place because I’ve been burned by them before.

Although only the Globex is open, Asia markets should open soon…and so far, it’s a pretty tame open for the past 2 hours. Maybe this was all baked in the previous two weeks?

Good luck on Monday and thanks for reading.

P.S. Just remember, if the Dow falls more than 30 percent (3600 pts), the market will close! Don’t think we get there, but keep it in mind?

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It’s the economy stupid!

Published on August 2, 2011, 6:56 pm in Trading. Closed Tags: , , , , .

We had the biggest down day this year, although the volume was not that big. I would have rather seen a big woosh down and have buyers come in instead of this slow, grinding death…on every little pop, a barrage of bears come in and sell, sell, sell! It was one of the ugliest days I’ve seen…add in 7 down days in a row…8 for the Dow…the markets are very, very oversold.

For as crazy as the market has been the past week, the VIX has been fairly tame.You would think the VIX would have shown some additional upside movement. S&P is now negative for the year. I don’t expect it to stay there, but still a significant accomplishment…for the bears.

The Arms Index, also known as TRIN says: A TRIN close over 2.0 results in a bounce the next day 9 times out of 10. No bounce? Market is in trouble! The TRIN closed at 4.64 on Tuesday!

Wow…staggering…S&P down almost 100 points…the Dow down 900 points…all in a few days! Screw the debt-ceiling, it’s the economy stupid!

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