Short term trades in the stock market •$$$$$•

[SpasticGramps]

Case Shiller printed at -4.5%.

Double Dipper.

 

[SpasticGramps]

Oh and Consumer confidence collapsed to 44.5!!

All this terrible news should lead to a nice rally today. Since we live in complete loop land now it looks like the market will rally on poor economic data as it would imply QE3 at the FOMC in Sept.

Here is the WSJ charting what has now become an artificial market trading on moral hazard (moral rot) instead of fundamentals.

This going to to end fucking awesome.

 

[SpasticGramps]

No volume levitation.

lmao

 

[CascadeFarmer]

MNRO, MonroMuffler Brake, Inc. continues it's breakout from a solid consolidation. I guess maybe peeps are repairing cars instead of buying new ones?

RGR continues it's tear but seems getting into overbought territory. The run the last 3 days is getting a bit overheated.

RIC exploded out of it's consolidation on huge volume. Those September 10 calls that were $.65 the day that I highlighted them less than two(?) weeks ago at an entry loss of 40% are now worth $1.20 so a gain of 85%. The stock alone was up 16.38% today! I thought RIC and AUY would make pretty decent buys on a pullback but RIC...yikes!

HANS recovered from an intraday breakout failure when it violated it's pivot (buy point) on Friday and keeps cranking.

In the coffee area PEET recovering a bit and forming a decent consolidation to launch from.

I covered my shorts last Tuesday morning soon after the open. Pretty much taking a vacation.

 

[RetroGrow]

Gramps, I think you will like this article:
"A ‘no-growth’ boom will follow 2012 global crash"

http://www.marketwatch.com/story/a-...global-crash-2011-08-23?link=MW_story_popular

 

[CascadeFarmer]

I mentioned NUS (Nuskin) well over a week ago as a possible bull option in this market as it was holding up very well. I just checked in with it and made a nice run from an oversold condition, broke out of a good consolidation on strong volume and today is confirming that breakout...

 

[CascadeFarmer]

HANS having big trouble today on volume and right now struggling around it's 10 MA. That intraday pivot violation on Friday was not a good sign...

 

[CascadeFarmer]

RGR continues it's tear but seems getting into overbought territory. The run the last 3 days is getting a bit overheated.

Well what do you know...it's turning tail today. I'm thinking it may visit ~$32+ for it's first stop if it does stop.

 

[CascadeFarmer]

What a tussle especially later in the day!

 

[yesum]

Let me know when you go short the S & P Cascade. Or for that matter long, but I feel better about the short position really.

 

[CascadeFarmer]

RGR continues it's pullback and right now trading at...$32. I figured it might at least hesitate at it's 10 MA cause it's so strong and there's general market support. Moving down on strong volume...

Here's a snippet of one of the watch lists I have going. Check out RGR at the bottom. You can see the time and about 45 minutes after market close. I had to take a snapshot cause I saw some dork not put in a limit order, or their limit order was stupidly high, after hours and get reamed for what they paid for it at $35.53...D'Oh! I see that happen a lot.

 

[CascadeFarmer]

SLW is looking kind of interesting. They have a cool business model where they don't mine but invest in mining ops, silver, and get their cut...similar to RGLD in the gold mining sector.

 

[CascadeFarmer]

I mentioned PEET in the coffee group, GMCR is in that group and one of the leading stocks in the market, and seems could make a decent move soon if the general market stays positive and there's general support for stocks...

 

[CascadeFarmer]

Not a lot of participation in this thread any more. Good luck to those that trade, invest, gamble or whatever!

 

[SpasticGramps]

Maybe a big compression trade coming up? The volatility is bananas.

Equities Yet To Wake Up To End Of Operation Twist-Style QE3

Despite our agreement with the general premise of the curve shape changes that the Fed is likely to undertake in any QE3 (Operation Twist or Operation Torque as we posted earlier) should it occur, we are also in agreement with our earlier guest post related to both the hurdles and anticipated impact of further quantitative easing. It is becoming abundantly clear that market participants are at best befuddled (as Pisani has been so eloquently indicating all day) and at worst missing the point dramatically as fixed income markets are turning their heads to any action by the Fed while equity markets remain more delusional.

Whether the combination of high short interest, month-end window-dressing, HFT, and hopium is to blame, the rebalancing across asset classes that is supposed to be what helped us rally so impressively in the last few days on vapor-thin volumes does not appear to have been 'rebalanced' in bond markets.

This disconnect, and one we have been pointing to for a few days now, is nowhere more evident than in the hope vs reality of the 2s10s30s butterfly and the S&P 500 futures market. We wonder who will be proved correct?

 

[SpasticGramps]

Labor day weekend coming up. I've been hanging out on the river a lot lately. Going to watch LSU beat Oregon in Dallas this weekend! Geaux Tigers!

Bernanke punted until Sept 23. I think economic data is going to continue to suck. 30K jobs print tomorrow IMO. Lots of blah blah double dip talk in the echo chamber coming until then. Europe is imploding still. Greece two years are ~42%. Sovereign debt crisis is morphing into a finance crisis a la 2008 except now with no backstop. Going to be a great recovery.

Going to hit the river again tomorrow. Should be getting my new ski in. HO Coefficient X/SL. Damn drought is drying the river and lake up. Enjoy it while I still can. Fucked up shit. Just gotta roll with it.

 

[Hydrosun]

I'll be rolling in the mountains! Good friends and great tradition.

 

[azez]

ill be sitting home and alone
peace
ez

 

[Madrus Rose]

A little breaking news tonight "US to sue a dozen big banks over mortgage securities-NYT "
http://www.reuters.com/article/2011...0902?feedType=RSS&feedName=companyNews&rpc=43


On Thursday September 1, 2011, 10:33 pm
WASHINGTON (Reuters) - The agency that oversees mortgage markets is preparing to file suit against "more than a dozen" big U.S. banks, accusing them of misrepresenting the quality of mortgages they packaged and sold during the housing bubble, the New York Times reported on Thursday.

The Federal Housing Finance Agency, which oversees mortgage giants Fannie Mae and Freddie Mac, is expected to file suit against Bank of America, JPMorgan Chase, Goldman Sachs and Deutsche Bank, among other banks, the Times reported, citing three unidentified individuals briefed on the matter.

* hope you guys got your SPY shorts in at $123 top R yesterday & today ...two days in a row and that was all she wrote for this push .
Retest 1190 looking imminent...

** Two more tropical storms organizing , one in the gulf & Katia heading in

 

[SpasticGramps]

About to go hit the lake. Europe is melting down again today. Indices down 3-4%. The Itlians are getting cold feet about austerity. ECB is really pissed. Europe is basically totally fucked at this point.

US banking sector is collapsing on the lawsuit news and the 17K jobs print. July was revised down to 85k. Looks like it may be ugly today. Although as the CNBC talking head was saying this morning bad news can actually be good news because it means more potential for QE3. Gotta love this corrupt farce of a moral hazard market.

Oh, BAC is down 8%!! Fuck you Warren Buffet. Status quo con man whore.

Have a good day everyone looks like a nice ponzi meltdown day. My guess is a total bloodbath going into the long weekend. The administration puppets are already making their rounds on the financial networks desperately trying to fill everyone's pipe with some more Neo-Keyensian hopium.

Time to hit the water.