Wednesday, October 29, 2008
Come on Market
Come on market give me S&P 1000, YOU KNOW YOU HAVE IT!!!
Adding onto yesterday gains and this will be good for the bulls as it would mark the first time is awhile we haven't sold off a huge up day. Momentum is on the bulls side here.
The question is do we hit 1023 on the S&P and 10000 on the DOW.
Adding onto yesterday gains and this will be good for the bulls as it would mark the first time is awhile we haven't sold off a huge up day. Momentum is on the bulls side here.
The question is do we hit 1023 on the S&P and 10000 on the DOW.
FED
FED announce in 50 minutes can't wait to see what they do. The point need to be made that the FED is so irrelevant to the market it is almost a joke. We will see in 45 mins
Wednesday
Remember today is FED announcement, usually we die volume wise into that 12:30 time frame till the announcement. I do expect us to get some early upside then who knows :), all depends on what the FED says.
Tuesday, October 28, 2008
Okie Dokie
Ok we got a nice rally today. A few things to make note of: firstly tomorrow is FED rate announcement and we usually have an upward bias into FED announcements. Secondly, volume was on the light side and as most of you know price needs to be backed by volume. Thirdly, I would love a gap up tomorrow and maybe a push into S&P 1000 as this should provide some resistance. I am still thinking here that we will see 755 on the S&P before the year is up. Fourthly, tomorrow if we are up into that 11:00 time I would not be surprised if we sell off as most traders will sell the news on the FED announcement.
Fifth, we have a few gaps on the charts in the indices above and if they want to push us higher I expect those gap to get filled before the turn us down.
Is this a one day wonder like two week ago? Who knows but this week should be tricky with the election next week and most looking to see how the polls look over the weekend. I don't see us rallying very far and upside will be limited I think to the upside of DOW 10,300 and around S&P 1050 if they really push us. I would love to see 1050 on the S&P as this would provide a nice low risk short after the elections.
Fifth, we have a few gaps on the charts in the indices above and if they want to push us higher I expect those gap to get filled before the turn us down.
Is this a one day wonder like two week ago? Who knows but this week should be tricky with the election next week and most looking to see how the polls look over the weekend. I don't see us rallying very far and upside will be limited I think to the upside of DOW 10,300 and around S&P 1050 if they really push us. I would love to see 1050 on the S&P as this would provide a nice low risk short after the elections.
Nice move
Nice move here into the close by the market BUT volume is extremely light. Can we say turnaround tuesday again. Tomorrow is the FED annoucement and we should get some movement on that.
TRADE CALL : GOOG PUTS (GGD XT)
Ok RISKY play here but I am playing this 1/2 size and maybe add if better prices hit.
Thinking here is that Google looks weak and should test it lower band once again so I am playing the DEC 08 puts on it.
GGD XT @19.30. It is expensive so play lightly
Thinking here is that Google looks weak and should test it lower band once again so I am playing the DEC 08 puts on it.
GGD XT @19.30. It is expensive so play lightly
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