EBAY

I just wrote on Tuesday that EBAY should see $15. They reported after hours and missed.

Just another Idea: NOT YET PLEASE

I am so waiting for GOOGLE to report tomorrow. I can remember the last earnings report like it was yesterday. A good friend of mine was asking me what I think will happen and I remember saying to him GOOGLE is trading like it is going to dive after earnings and then pop goes the stock $100 points on the upside still leaving the gap there after 3 months. Now we are doing the exact opposite, where GOOGLE looks strong going into earnings as it should logically, no one want to miss the $100 upside again BUT is it setting up to do the opposite? I DON'T KNOW!!!!!!!!!!!!!!!
I will watch the move and see what happens. Personally I would love them to blow out and go higher because I think TECH is about to fall fast on the next impulse to the downside but that's just me wishing :)
I sold some QID which I bought @$39 +$5 last week and would love to sink my teeth in some again..............


MARKETJEDI

TRADE CALL:USO PUTS TODAY

Congrats to those who played.

AWESOME WINNER 100% IN AN HOUR


ONLY WINNERS PERIOD!!!!!!!!!!..

Pass the word around

One Day Rally or NOT.

Well wow the financials did get in gear to the upside today. Don't get fooled here folks this is a classic elastic band move in a bear market. Financials the weakest sector here from the year start has logically got to get at least a snap back and today might have been IT or the start of it. SKF was down a whoppy 21% as the financials rallied and I am looking to get on board just so you know if it touches anywhere in the 130's. With the banks reporting this week and MER on the docks tomorrow we might just be in fairy tale land with these at the moment.
At the close I played some SPY puts and the reason behind this is simple whether it works or not is another question. The last few huge rallies we have totally given it back the following day and in my mind and I think those who are not fooled by the bounces think this will be one more opportunity to sell and not the start of serious buying. GS was up a whopping $15 today and again will face strong resistance in that $185 area once again. I can tell you already LEH and MER looks like some early bear flags and I will be looking to short these again.
The key for tomorrow will be if they can sustain this rally. If we give it up like the past two times then I think we will have a shot @10500 in a rush, if not and we add to the gains we could have a earnings run.

RESISTANCE AND TARGET ON THE UPSIDE S&P IS 1275. 30 Points away

SPY Puts

Bought some $124 puts at the close for .98

Just a hunch.

Too much of a move today. Today was for the bulls whether it is short covering or not I dont know.

MARKETJEDI

S&P

Impressive push to the upside. As I have been saying we are oversold here but this move have about 35-40 more points on the upside till it faces resistance.
I will be looking at that level to get short heavy again.

TRADE IDEA!!!!

Out USO PUTS HERE!!!!!!!!!!!!!

$5.20 whopping 100% in less THAN an HOUR

Trade Idea for the VERY BRAVE

USO 112 July puts @2.40

very very very risky trade.



MARKETJEDI

Wednesday

Well today will be interesting, why? Yesterday we made a nice recovery from the lows but the last hour especially the last 25 minutes the S&P sold off dramatically. Now we have to respect that we are oversold BUT that last hour of weakness makes me think the selling is still in progress.
So what do we look for today. Need to play both sides of the plate. I would look for the stock stock in the last couple of days for longs if we are strong and look for a test of yesterday lows if we look lower. I am looking at the March lows on the Nasdaq to be tested.

One more day till GOOGLE earnings - It will be exciting folks--

STAY TUNED