Both went higher today. Citibank @$27.50 is a golden short in my opinion. I will watch it the next few sessions. FNM $30 would be my ideal spot again to enter short.
Keep these on your watch list for 10 am lows.
Thursday, April 24, 2008
1396, 1396
Those were the numbers I have been focused on and I have posted it here for people to do the same. We hit it this evening and just rejected it. That's strong strong resistance here. If the bulls want make a firm stand they need to get over that level in the next few sessions with conviction.
SKF already +$1. I am riding this again!!!
Microsoft will report in 5 minutes.
SKF already +$1. I am riding this again!!!
Microsoft will report in 5 minutes.
TRADE CALL : SKF
Yes playing this again. No way we out of the wood in the financials and new home starts at its lowest level in 16 years, where are banks going to make their monies. I will take the counter trend trade here.
SKF long 100.68
SKF long 100.68
WOW
Wow I was so correct here guys. Wrote last night that I think we can push higher and bam we are a couple of points away from 13000. Geez I was outside doing yard work I could have made the kachingos mega today, oh well, you can't get them all. Alot of stuff are running higher here and this is great, this is going to set up some wonderful plays.
SOV is now below $7, what a call is that geez!.
With this amazing move stocks like Bidu is flat, FSLR is down, agros weak, which tells me rotation is going on in this rally as I mentioned last week. Last week I said watch out for rotation as the high flyers are getting stretched and people will move out of them into the beaten down financials and tech etc. That's how you play the market folks, I have no special powers I just know the movements which are obvious to most.
Now I will tell you this after earnings season we will rack up especially in the summer with some short side plays, just watch and see. I notice the rotation into financials here, it is just that and nothing else, big money aint investing in them here. FNM at $30 is another free money play on the short side and Citibank.
SOV is now below $7, what a call is that geez!.
With this amazing move stocks like Bidu is flat, FSLR is down, agros weak, which tells me rotation is going on in this rally as I mentioned last week. Last week I said watch out for rotation as the high flyers are getting stretched and people will move out of them into the beaten down financials and tech etc. That's how you play the market folks, I have no special powers I just know the movements which are obvious to most.
Now I will tell you this after earnings season we will rack up especially in the summer with some short side plays, just watch and see. I notice the rotation into financials here, it is just that and nothing else, big money aint investing in them here. FNM at $30 is another free money play on the short side and Citibank.
Trade Update: SOV
SOV I dont know how many of you are still holding but this one is going to $4. I gave this out short from $12 area calling it to $5, now trading premarket $7.50 awesome call.
Only winners here
Only winners here
Wednesday, April 23, 2008
Where I think we go next
Here it goes! Some people been asking where I think the market will go in the near term. I think we can really push a little higher here but longer term we will go below those lows seen in March. Today was one of the crappiest days I have had in awhile intra day, most of the trades just s/o but lucky for me I was playing smaller size lots because I wasn't feel to good health wise with my sinuses.
I think there is a good shot we go to 13100 area int he next few weeks. It would not be out of the question for a company like Microsoft to blow out earnings and send us high by 300 point from here. The great thing about that is that earnings season will soon come to an end and if we make that target while in earnings season that would be a good high probability short.
We are coming up here to first real test on the upside for the markets. S&P 1396, which is just 17 points away should provide some heavy resistance.
I think China will get hot again as we come closer to the olympics and the government does everything to make China the new world power to the world.
I have been asked about gold by a few people. Personally I think the gold trade need to rest and I wouldn't be surprised to see gold pull back especially if the market grinds higher. Also Oil has been up 15 out of the last 16 trading days and it is in a parabolic move here which requires a pullback. I would love to see oil pullback to a $109 area.
Lets see the effect of the Apple earnings tomorrow they weren't that spectacular and I expect Apple to trade back to the $140 level in weeks...
See you tomorrow
I think there is a good shot we go to 13100 area int he next few weeks. It would not be out of the question for a company like Microsoft to blow out earnings and send us high by 300 point from here. The great thing about that is that earnings season will soon come to an end and if we make that target while in earnings season that would be a good high probability short.
We are coming up here to first real test on the upside for the markets. S&P 1396, which is just 17 points away should provide some heavy resistance.
I think China will get hot again as we come closer to the olympics and the government does everything to make China the new world power to the world.
I have been asked about gold by a few people. Personally I think the gold trade need to rest and I wouldn't be surprised to see gold pull back especially if the market grinds higher. Also Oil has been up 15 out of the last 16 trading days and it is in a parabolic move here which requires a pullback. I would love to see oil pullback to a $109 area.
Lets see the effect of the Apple earnings tomorrow they weren't that spectacular and I expect Apple to trade back to the $140 level in weeks...
See you tomorrow
trade update- IPI
IPI trading up nice premarket +$2 for a overnight hold. I just sold 1/2 + $1.80 pre market, will ride the rest
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