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

[Nondual]

I had an Etch A Sketch as a kid...that's when they were new...lol!

 

[SpasticGramps]

Interesting interview with a professor about Chinese Neo-Keyensianism

Academic Says China `Banking Crisis' Possible Bloomberg

Oct. 18 (Bloomberg) -- Patrick Chovanec, a professor at Tsinghua University in Beijing, talks about China's economy. Chovanec speaks with Susan Li on Bloomberg Television's "First Up." (Source: Bloomberg)

 

[Dudesome]

I had an Etch A Sketch as a kid...that's when they were new...lol!

not sure how you came up with a wedge

 

[SpasticGramps]

China is becoming a problem.

Chanos: China’s hard-landing has already begun
China’s bust will be a thousand times worse than Dubai

NEW YORK (MarketWatch) — China is heading into an economic storm, and the much-feared hard-landing of the world’s second-largest economy has already started, warned celebrated hedge-fund manager and China-bear Jim Chanos of Kynikos Associates on Monday.

“The numbers are falling faster than we thought,” said Chanos during an exclusive interview with MarketWatch on the sidelines of the 7th Annual New York Value Investing Congress.

“Real estate sales in September and October, which are peak months, fell 40%-60% on-year,” he said.

Chanos also pointed out that Chinese financial and real-estate stocks are down 30% from their peak, while cement and steel prices are declining.

“People are buying into the idea of perpetual growth,” Chanos said. “But they have to ask, ‘Are you really growing?’”

Chanos stressed that investors should understand that there is no bailout without a cost.

“The only way the Chinese government can continue to bail out everyone is to print more money, which will lead to inflation. But people are depositing money [in banks] at below inflation,” the fund manager said.

Chanos had already suggested back in May that there were clear signs of excess supply in China’s commercial real-estate sector.

About 14% of office space in Beijing and 9% in Shanghai was vacant, according to data he cited at the time.

“Western investors must remember that Chinese consumers are not the next big hope,” he said.

 

[Technique]

http://www.youtube.com/user/slipstreamtrader

this bloke does weekly updates on the s&p500 and asx200 and more if you pay for subscription..

worth a look!

 

[gonzo`]

I want to buy out of the money options on some indices anyone got opinions on this?

 

[Nondual]

I want to buy out of the money options on some indices anyone got opinions on this?

You know those will only be good if the market makes a big swing one way or the other. I don't deal much with out of the money stuff any more. I don't know that were the market is at now supports a good entry for out of the money stuff.

At this point I'm just watching. The NASDAQ is doing a pretty good job holding 2600 and short term MA's are coming up to meet where the market is at. I'm not convinced the market will take a big dump at this point but am biased to the downside in general except for some select issues. There's some leading stocks that have formed decent enough bases to launch from.

 

[Nondual]

not sure how you came up with a wedge

That old pattern I was watching got blown apart but interesting to see those trend lines still working a bit.

 

[Dudesome]

That old pattern I was watching got blown apart but interesting to see those trend lines still working a bit.

actually now that im stoned enough I get it... yup. I just wouldnt rely on the wedge on 2 and a half of support confirmations. Id see the 3rd first. but hey its jut me...

damn this bud is good. smells almost like candy. very weak smell, but the stone(edit: no not a stone, a fucking high that's what it is) of a pretty god damn sativa.... kno whatamean
it ran 22euro a gram here... damn thats cheap considering these prices here...

 

[Dudesome]

That old pattern I was watching got blown apart but interesting to see those trend lines still working a bit.

also I see a pennant

 

[SpasticGramps]

Wild swing today. DJIA comes back from -100 and tanking in the morning to close up 187. Wow! What caused this rally? The Guardian released a story that France and Germany had reached an agreement to expand the EFSF to 2T. "Europe is saved!" :yay:

U.S. stocks lifted further by Europe report

NEW YORK (MarketWatch) — U.S. stocks rallied Tuesday, adding to gains late in the session, after a British newspaper reported that France and Germany had reached an agreement to bolster the euro area’s rescue fund.

“This rally seems different, and the news and actions out of Europe seem more substantial,” said Jeff Kleintop, chief market strategist for LPL Financial. “The news out of Europe has taken the fear of a 2008-like financial crisis off the table, although certainly there are still lingering issues,” he added.

Refuted after by the EU itself.
DJ EU Source: No EFSF Deal Til Friday, EUR2 Trillion Number 'Simplistic'

LONDON-(Dow Jones)- European officials are still debating the size of the bailout fund for the euro zone and reports that an agreement has been reached to leverage it to EUR2 trillion are "totally wrong," an official familiar with the negotiations said.

European officials are working toward resolving the euro zone crisis and will be meeting over the weekend. A report in the Guardian newspaper suggested the EUR440 billion European Financial Stability Facility could be levered up to increase its firepower and the euro shot higher but EU officials have dismissed the report.

"Leveraging the EFSF is still being debated," a person with direct knowledge of the discussions said. "We may have a decision on the size by the summit or just a statement that firepower must be increased. But there no talk about an amount around EUR2 trillion. Such reports of an agreement between France and Germany are totally wrong."

So the rumor mill hilarity continues. The article did it's job though. Prop up the market with lies for a few hours.

 

[RetroGrow]

Yeah, these intraday reversals from the European talking heads has my head spinning. I dumped my long position in MCP @ $37.55 after it had tanked much lower in the morning. Was glad to get out, but within 5 minutes, it ran up another $2! So that's $2000 I didn't make, almost more irritating than taking a loss.
Same thing happened on my two other long positions. Dumped in the morning for a small profit, only to see them skyrocket later.
Short RIMM & BAC. Ready to cover in the morning at first sign of an upswing.

 

[Nondual]

also I see a pennant

I see dead people.

Pretty strong up day on better volume. Nice positive reversal. We'll see what AAPL does for the market tomorrow. RGR recovered and may be poised for a pop. Have not been following things much lately. PEET is under accumulation.

 

[Nondual]

I dumped my long position in MCP @ $37.55 after it had tanked much lower in the morning. Was glad to get out, but within 5 minutes, it ran up another $2!

A little surprised companies like MCP and REE are not doing a bit better with China basically shutting down the world's rare earth market.

 

[RetroGrow]

A little surprised companies like MCP and REE are not doing a bit better with China basically shutting down the world's rare earth market.

REE is basically a penny stock scam out of Vancouver. They have a secretary named "Winnie" in their 450 square foot office, from which they pump penny stocks. The owner struck gold on REE, but they will never actually mine anything. Short it if you can. I can't.
Rare earth prices have been tumbling, so MCP has taken a big hit. It usually gaps up every morning, then pulls back nicely until buying kicks in @ anywhere from $1-$2 below the morning gap.
Great trader, but I bought it yesterday near the close, expecting a rebound this morning, but it got hammered early along with the rest of the market. I stopped out for no gain a minute before it skied upwards. It had almost a $5 spread between the low of the day and HOD. Very profitable if you bought the dump this morning.

 

[Sam the Caveman]

Wild swing today. DJIA comes back from -100 and tanking in the morning to close up 187. Wow! What caused this rally? The Guardian released a story that France and Germany had reached an agreement to expand the EFSF to 2T. "Europe is saved!" :yay:

U.S. stocks lifted further by Europe report
Refuted after by the EU itself.
DJ EU Source: No EFSF Deal Til Friday, EUR2 Trillion Number 'Simplistic'
So the rumor mill hilarity continues. The article did it's job though. Prop up the market with lies for a few hours.

Yeah, Gramps that shit was crazy, people are so gullible.

Was trading the NQ today, was holding a short position into the close and was in the red about $700. It then looked like they turned off the markets for a bit and when it opened back up I was in the green $200 and I bought it back to lock it in. Saved the day with my stubborness, shitty thing to do though. I had a feeling it would come back down to the same level it was before the rumors broke, and it did. Although I was telling myself I had F'ed up going into the close.

 

[Dudesome]

I see dead people.

.

yeah i guess thats what i had to see yesterday after that much o weed.


anyways enjoy your ride hope you get a nice profit from this journey

 

[SpasticGramps]

I see dead people.

I see dead banks.

 

[Nondual]

Yeah well leading stocks are breaking out and doing well today.

 

[SpasticGramps]

I'm still bullish short term for equities. As long as Europe can keep kicking the can via rhetoric we are good. I figured earnings would be a mixed bag hence cautioned going short into earnings season. Rhetoric, corporate profits, and unicorns makes for a good rally. Never mind that we had record corporate profits before TSHTF last time.

Europe has banned short selling CDS now on top of banning shorting the financial stocks. Maybe a ban on selling next lol?

I see dead countries.