I think we make one more new highs here before we head below 800 again on the S&P. Maybe tomorrow or Monday we make a marginal high and send us to 850 area which I think is the top of this current range.
If you are long I would be lightening up right here and now.
MARKETJEDI
Thursday, April 2, 2009
TRADE CALL: SRS LONG
Taking a stab here tomorrow on SRS long.
I will play the stock straight out but the April $48 calls (SRS DV) don't look that bad.
We will see how that works out
I will play the stock straight out but the April $48 calls (SRS DV) don't look that bad.
We will see how that works out
Another problem
Another problem for the bulls here is the very weak volume. We constantly get divergences on the upside everyday but we continue to grind up on lower volume. This is very hard to decipher but I am thinking the bears want higher prices so they can short easy and secondly the BS news out of treasury etc is making weak hands buy.
Now I must say this here and now I do expect us to make it to 1000 on the S&P this year but between 1000-1080 will be the top just not on this go.
Take that for what is is worth, you all know I think we will see DOW 5000 before all is said and done
Now I must say this here and now I do expect us to make it to 1000 on the S&P this year but between 1000-1080 will be the top just not on this go.
Take that for what is is worth, you all know I think we will see DOW 5000 before all is said and done
Folks
I am getting alot of emails about what the market is doing. Guys this is very unusual times, market is edgy and basically moving on political news and decisions. For example we are up today on mark to market, G20 and nothing about technicals of companies or the market. All you can do is stay out or just see a set up and take it with your necessary risk rewards.
I have been trading for years and this is by far the most difficult environment I have ever seen. You will see many analyst and managers come on and say the same thing because honestly it is.
The good thing is this wont last much longer, so just relax and regroup. As I would say the markets aren't closing tomorrow forever there will be tons of other opportunities.
I have one good description of this market- PINBALL MACHINE :)
MARKETJEDI
I have been trading for years and this is by far the most difficult environment I have ever seen. You will see many analyst and managers come on and say the same thing because honestly it is.
The good thing is this wont last much longer, so just relax and regroup. As I would say the markets aren't closing tomorrow forever there will be tons of other opportunities.
I have one good description of this market- PINBALL MACHINE :)
MARKETJEDI
New guidance for Mark to Market
So another scam to prop up the market. I want to puke really do, this is just crazy they trying to save the banks at all cost at our expense.
When will the madness stop.
When will the madness stop.
Wednesday, April 1, 2009
Thursday-Mark to market
Tomorrow morning is the vote on mark to market accounting. This will be very important as it was be the catalyst for the markets till be get earnings season in high gear. I am so anxious to see what the decision is and also what the market will do. Again this is just fooling with the issues and not dealing with them but hey we have no powers as regular citizens so we are at their mercy.
I hope we rally so we can get on with it and hit some serious resistance. It is minutes to midnight and the futures are up lot and I think it is in anticipation of the mark to market. Lets just get a rally so we can get everyone happy so we can short. If we rally and sell off tomorrow it will prove once again that we are in sell the news mode and I would think we try to break that 770 area on this pullback. I dont think we crash and burn but we would get a significant pullback.
MARKETJEDI
I hope we rally so we can get on with it and hit some serious resistance. It is minutes to midnight and the futures are up lot and I think it is in anticipation of the mark to market. Lets just get a rally so we can get everyone happy so we can short. If we rally and sell off tomorrow it will prove once again that we are in sell the news mode and I would think we try to break that 770 area on this pullback. I dont think we crash and burn but we would get a significant pullback.
MARKETJEDI
Story here
The story here is do we see 850 first or 750. We are narrowly in a range and I think these are the two numbers in place. I think the most important number is 770 for the bulls to hold and the bears to keep the bulls below 824, but either way we are trapped right now in a range.
If and I say if I were a betting man I would be betting we sell off on that mark to market news and head to that 750 level but again I am not a betting man. I rather sit by the sidelines and see what happens as there is too much indecisive action as of late.
Which there was more to say but sometimes that's all the market has "NOTHING"
MARKETJEDI
If and I say if I were a betting man I would be betting we sell off on that mark to market news and head to that 750 level but again I am not a betting man. I rather sit by the sidelines and see what happens as there is too much indecisive action as of late.
Which there was more to say but sometimes that's all the market has "NOTHING"
MARKETJEDI
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