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

[Peppermint]

Went back through this thread a bit and noticed the RIC September 10 calls. So I checked on them Friday and they finished at $215 so if you did buy a contract at $65 with that nasty entry loss you ended with a 330% gain within a month.

 

[SpasticGramps]

Looks like it's been an interesting weekend scanning through the headlines.

Timmy Boy was laughed at in Europe as he attempted to lecture them on how serious their situation was. It was to the effect of... the US situation is much worse than Europe's, why are you lecturing to us? Timmy said if you print it will all be OK. Uncle Benny is doing it across the pond. Look at the great results at can kicking that we are having.

Germans apparently rejecting that notion having gone through this situation earlier last century. Sounds like Germany is about to give Greece the boot.

Germany Rejects Geithner, ECB Refuses To "Print", Greece Gets Final Warning

Looks like no more official trips for G-Pap anywhere very soon:

- ECB'S WEIDMANN-IT IS WRONG TO ABANDON ALL PRINCIPLES OF MONETARY POLICY BY CITING A GENERAL EMERGENCY-SPIEGEL

- GERMAN CSU HEAD - IF GREECE CAN'T OR WON'T KEEP TRACK WITH RESCUE PLAN THAN AN EXIT FROM THE EURO ZONE IS CONCEIVABLE-SPIEGEL

More from Reuters:

European Central Bank Governing Council member Jens Weidmann told Germany's Spiegel magazine in an interview he considered it wrong to "throw out all established principles of monetary policy by citing a general emergency."

In a preview of an interview to be published in the new edition of Spiegel, Weidmann, head of the Bundesbank, said: "Once people start to use monetary policy there will always appear to be reasons suggesting it should continue to be used."

German elite are laughing at the US because they know how SOL we (US) really are and yet we are over there lecturing to them as if we know wtf we are doing. Idiocracy. RIP Eurozone.

Did Papandreou Just Get The Worst Possible News?

Did everyone's favorite pathologically lying Prime Minister finally get the long overdue bad news? After yesterday Bloomberg released the following succinct statement... "Greek Prime Minister George Papandreou will meet with International Monetary Fund Managing Director Christine Lagarde in Washington on Sept. 20, according to an e-mailed statement from the premier’s office in Athens. On the same day, Papandreou will also meet with U.S. Treasury Secretary Timothy F. Geithner, according to the statement. Papandreou will visit New York and Washington from Sept. 18 through to Sept. 23, and will speak at the United Nations General Assembly, the email said." BBC News now follows it up with.... "Greek Prime Minister George Papandreou has cancelled a visit to the US because of the seriousness of the country's debt crisis, Greek media reported, quoting government sources. State TV said he decided to return home after consultations with Finance Minister Evangelos Venizelos. Mr Papandreou planned to attend the UN General Assembly and IMF meetings. The decision comes a day after eurozone ministers delayed a decision over debt-ridden Greece's next bailout loan." Having acted like a petulant child most of his political career, did G-Pap just pull the final act and "retaliate" at the IMF and the US for snubbing him in the only way he knows - by refusing to grant Timmy G and Lagarde an audience? In the meantime, Europe believes it is ready to cut the cord with Greece...

 

[Nondual]

Went back through this thread a bit and noticed the RIC September 10 calls. So I checked on them Friday and they finished at $215 so if you did buy a contract at $65 with that nasty entry loss you ended with a 330% gain within a month.

What a tard who can't calculate. It was only a 230% gain.

It's CF back for another stint here . I like to mix things up.

Anyway not watching the market much lately. Haven't looked close enough but the NASDAQ almost looks like it's built a Rising or Ascending Wedge pattern in the last few months. Here's a good look for that info and maybe others can chime in?

http://www.tradingonlinemarkets.com...ng_Wedge_or_Ascending_Wedge_Chart_Pattern.htm

This is a long term chart from September of '09 and the pattern I'm possibly seeing is more focused in the last few months.

The up volume has been pretty good though as it challenged it's 50 MA. Maybe I'm just over analyzing? NASDAQ current. Seems like the pattern is not quite complete and needs more work. Maybe towards mid October the picture will be clearer. We'll soon see if it hits that upper trendline on the 2 month old pattern and it's resistance and falls back. It's hitting old support at this point, which now should serve as some resistance, and first attempt at it's downtrending 50 MA. Almost looking like a decent short term short entry here.

 

[SpasticGramps]

Well the elite are coming out of the wood work and telling the truth. If anything this tells me the end game for the Euro crisis and beginning of the next banking crisis is getting close to hand. It doesn't look like there is the political will to kick the can any further and reality will finally set in. This reality being 2008 was just the beginning of the collapse. Monetary illusions and preception control by the central bankers and planners to prop up the failed system has run it's course. Now that the looting is almost complete the system can tank unimpeded as it should have done years ago.

The lesson to be learned from all this? Totalitarian central planning be it communist, fascist, or whatever-ist, always, always fails in grand fashion.

This recent statement coming from the ex-IMF chief DSK. Everyone's favorite maid boner.

DSK Says Greece Is Done

Funny how all it takes for people to tell the truth is to no longer be part of the status quo. Yesterday, former UK PM and gold trader extraordinaire Gordon Brown said the 2011 financial crisis is worse than that of 2008, and now we have the man who until 5 months ago was head (it just never gets old) of the IMF, saying that Greece is finished.

From Bloomberg:

- STRAUSS-KAHN SAYS GREECE CAN'T PAY BACK ITS DEBTS

- STRAUSS-KAHN SAYS EVERYONE MUST ACCEPT LOSSES ON GREECE

The transion from bailout bonanza to default bonanza will be, if nothing else, interesting. Even Mayor Bloomberg stated the obvious that the US job crisis will eventually spark riots and the US "Day of Rage" is coming.

 

[Zen Master]

WE DON'T NEED NO WATER LET THIS MOTHAFUCKA BURN!


oh sorry, is it too early?

 

[Nondual]

WE DON'T NEED NO WATER LET THIS MOTHAFUCKA BURN!


oh sorry, is it too early?

Yes I think you're too early. I get more around October 13 for some type of tipping point. As always with future projecting just a guess.

 

[SpasticGramps]

WE DON'T NEED NO WATER LET THIS MOTHAFUCKA BURN!

 

[bentom187]

Oct 13 , my b-day awsome. ill only be upset if somthing prophetic doesnt happen now.
ill be watchin for it

 

[SpasticGramps]

Coming into the end of the year should be interesting.

Eron accounting should shake out great.

Euro CDS and EURCHF are going bananas right now............

Hot Potato, Hot Potato........

 

[SpasticGramps]

A ~100bps EURCHF open.

The volatility of the coming months is going to test our souls IMO.

All is fun and games till the race to the bottom of fiat concludes.

Time is all that matters.

 

[Nondual]

Oct 13 , my b-day awsome. ill only be upset if somthing prophetic doesnt happen now.
ill be watchin for it

It's just a WAG (Wild Ass Guess)...lol. Still though that formation needs a few weeks or so IMO. Cool I guessed your BDay right though!

AAPL hitting a new high coming out of an ascending triangle with a target profit taking point of about $430.

HANS, NUS and MNRO all had failed breakouts and MNRO struggling but the other 2 at/near new highs.

Here's a screamer that's almost doubled in a little over a month.

 

[Nondual]

You can almost argue the last almost 2 months for the NASDAQ look like an ascending triangle. Still looks like a wedge forming though. We'll see soon enough.

CMG another solid stock breaking out today but coming out of a late stage base so not too much ooomph left in it. NFLX came out of a late stage base not too long ago and been downhill from there.

WPI also breaking out today. Funky looking chart like CMG.

 

[bombadil.360]

it is sad to see people buy into these very unintelligent conspiracy theories...

say, what will the "elites in control" do if they themselves make the economy crash?

what value will their money have then?

really guys, think a little please...

 

[SpasticGramps]

Nice rally into the close today on another well timed Greece bailout rumor. I think the exact words were "getting close" to a deal. Nevermind that Germany said on Saturday their was no more will to keep bailing out Greece (and the rest of the eurozone for that matter).

Timmy was making the TV rounds today giving everyone a good ponzi pep talk. Along the lines of "everything is fine....there is no crisis........the system is perfectly stable. there is no reason to be worried........please insert your heads back into the sand." Desperately trying to put the CON back in confidence in this centrally managed perception based economy.

 

[SpasticGramps]

really guys, think a little please...

A banking crisis is a conspiracy theory now?

Hilarious. You should take your own advice.

 

[Zen Master]

Italy got downgraded. so who's next in line?

 

[SpasticGramps]

Greece runs out of money early October. I don't see the political will for a 6th bailout package for them, but maybe so. There is rumor of a vote in Greek parliament to abandon the Euro. Portugal, Spain, and France are always on deck.

Several people were on Bloomberg today stating how they and other big fund managers are reworking their portfolios for the coming crisis. You are hearing more and more on MSM outlets that the coming banking crisis will be worse than 2008. Even ex UK Prime Minister Gordon Brown admitted as much the other day. He's just a crazy tin foil hat wearing conspiracy theorist though. I mean everyone knows economies can't crash. That's just an unintelligent conspiracy theory.

Peaking in on Asia all indices are selling off right now.

 

[SpasticGramps]

Liquidity crisis just got a whole lot worse for the European banks. I have a feeling Europe is going to get pounded tomorrow. Asia (China) equities reversed the sell off and are soaring now on the news that China just pulled the rug out from Europe. So much for the White Knight BS story.

China Pulls The Rug From Under Europe, Halts French Bank Transactions, Makes Good On Trade War Ultimatum

A flurry of headlines out of China suggest global macro-economic volatility may be ready to take it to the next level. We discussed last week how China's oh-so-generous offer of help to Europe was merely a veiled threat playing US against Europe in a game of who-gets-the-funding. Well, tonight, it seems, they are making good on some of those threats. Aggravated by EU's lack of market economy recognition, they pull trading lines with French banks, express concern at the EUR's safety (preferring US Treasuries), and indicate a clear preference for bonds over stocks - all the while warning of growing trade tensions - consider the sabre-rattled.

From Reuters:
A big market-making state bank in China's onshore foreign exchange market has stopped foreign exchange forwards and swaps trading with several European banks due to the unfolding debt crisis in Europe, two sources told Reuters on Tuesday.

The European banks include French lenders Societe Generale , Credit Agricole and BNP Paribas.

"Apart from spot trading, all swaps and forwards trading (with the European banks) have been stopped," one source who is familiar with the matter told Reuters.

 

[Tripsick]

S&P downgrades Italy's credit rating

 

[SpasticGramps]

BNP is in freefall on the China news. Down 7.3% so far. It took the market a few hours to realize the impact, but it's responding now. Mr. Market is really focused on what the Fed is going to do.