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

[Nondual]

Looks like I will be getting short on the market next week. Wonder if we are going to inflate or deflate with the stimulus stuff and all?

Maybe I should explain about my earlier comment. At the least I'm biased now toward the negative side and at least for a pullback. I have not taken any short positions and don't see any general signs of a short term top yet. The weakness is there, shows up in the rails, yet stocks are still behaving well. All talk of the Fed 'ruining' the US aside their recent round of stimulus seems necessary and you can see some underlying weaknesses as I mentioned. In the long run this last round of easing is the beginning of the end IMO. I'd just like to see what the price of gold would be if they eliminated any ability to use margin. I did see mention that some are thinking the system will reduce margin requirements so speculation would increase.

Not surprising QIHU pulled back. It was churning, high volume turnover with little or no progress, at 25 and dumped what I had when it stopped making progress.

I'm still holding my RIC calls.

 

[Madrus Rose]

ISRG flew up again calls paid well CMG PCLN AMZN and later even AAPL came down from double top at 705 back to get pinned at 700 . This MLNX was another momo du jur along with KBH squeezing .

 

[Madrus Rose]

AMZN , 3 tests up to RSI 70 262 area , last test today on declining RS spelled pullback , S&P out with note that US recession 25-30% for 2013

 

[Madrus Rose]

View Image
NSC...wish I had the crystal ball out for this one.

NSC horrible miss pretty much short at will on it , Nat Gas rules coal shipments are way down , BBBY also creamed

 

[yesum]

'S&P out with note that US recession 25-30% for 2013 ' forecast of S&P going down 20 to 30%? links?

Do you have any long term predictions Madrus concerning inflation or deflation, gold as hedge, etc.? I am thinking of joining your 'millionaire' club even though I can not day trade. Might give a few good leads anyways.

 

[Nondual]

Interesting play for a little pop would be CTRX. S keeps chugging along and recent calls have paid off well. S is really a play on iPhone 5 IMO. Maybe the weakness in metals will provide a buying opportunity soon for fizzy and also miners like ANV. FNV, a leading miner, starting to take a dump. CALL wants to move yet general market weakness will probably keep it from doing much of anything.

 

[Nondual]

Here comes that correction . CTRX made a good effort today while WWWW got beat back on it's break out attempt. AAPL taking a dive and next logical stop at this point is its 50MA at around 645 as of today. It may pause at about 660 though. CALL failed badly.

But the main stock averages turned negative in the early afternoon and closed near their session lows as the sell-off ramped up in the late afternoon. Some reports attributed the reversal to Philly Fed President Charles Plosser, who said the central bank's latest round of quantitative easing probably won't work as a stimulus measure. But others noted the hawkish and nonvoting official didn't say anything new.

Other reports pinned the sell-off on a European Central Bank official saying the bank won't take a role in any potential restructuring of Greek debt, leaving it to eurozone nations. The official made that comment to a German paper.

Whatever the reason, Tuesday's action was poor. Another negative: Some leading stocks looked tired.

 

[yesum]

^^ You think the overall market is going into correction? I am short for this week but feeling next week might be a pop up.

 

[Nondual]

Nice buying opportunities in miners like RIC and ANV today. Was hoping for a more gentle pullback. Lots of strength in gold/silver stocks. They just bounced right back after some profit taking.

 

[westfalia]

Hi All,

I'd like to learn options.

Is there a place on the web that explains things clearly? A class, seminar, cd??
thanks-

 

[Stonefree69]

I don't know about Apple, but have been waiting for it to fall off the mountain peak. It's been hopping like the Hulk across mountain tops in that old cartoon on tv. But it only "thinks" it's the Hulk and Samsung and the public may be the ones turning mad. You won't like them when they're mad Apple... Strategy: wait for a downside breakout below a 30 or so day moving average. One thing's for sure, I wouldn't buy! Some wait years though for this kind of opportunity, like buying cheap sugar or cattle contracts crawling along the bottom.

From what I also hear, economy might be in the start of an upswing forming a new bubble.


PS: Apple's at it again! Amazon seeks to throw out Apple 'app store' claim I'm surely not in the minority on this, millions feel the same way.

 

[Stonefree69]

Well, did I speak too soon: Apple Stock Keeps Falling - Is The Company Losing Its Image? This could even be a short term trade now. Just use an entry strategy, I like to let trading programs do that. You could wait for a correction and then sell but stop loss orders could take a hit if it starts yo-yoing. Try to avoid experts like the plague, they're money mostly isn't from trades but traders like you. Stocks at a high can drop even after good news, like with their "victory" over Samsung.

 

[RetroGrow]

Well, did I speak too soon: Apple Stock Keeps Falling - Is The Company Losing Its Image? This could even be a short term trade now. Just use an entry strategy, I like to let trading programs do that. You could wait for a correction and then sell but stop loss orders could take a hit if it starts yo-yoing. Try to avoid experts like the plague, they're money mostly isn't from trades but traders like you. Stocks at a high can drop even after good news, like with their "victory" over Samsung.

If you have seen that hilarious Samsung commercial mocking the Apple droids who stand in line to get their new phones, that might explain part of it. The I-Sheep are getting a backlash.
Since when did phones become the most important thing in people's lives?
You can see the video here if you haven't seen it already. It is VERY funny:

http://www.huffingtonpost.com/2012/...mmercial_n_1898443.html?utm_hp_ref=technology

 

[Nondual]

AAPL really testing $660 and I think it's destined for its 50MA at about $650 as mentioned before.

The NASDAQ hit 3200 and mentioned that might be its top out of the ascending triangle, depending on where you drew the top line, about a week ago.

I'm playing NUGT options now. Basically a 3X play on gold miners...then doing the options thing on top of that.

 

[Stonefree69]

If you have seen that hilarious Samsung commercial mocking the Apple droids who stand in line to get their new phones, that might explain part of it. The I-Sheep are getting a backlash.
Since when did phones become the most important thing in people's lives?
You can see the video here if you haven't seen it already. It is VERY funny:

http://www.huffingtonpost.com/2012/...mmercial_n_1898443.html?utm_hp_ref=technology

Yeah a friend showed me that LOL.

I used to do pretty good trading the Dollar, Yen and Euro (formerly Swiss Franc and Deutsche Mark) using interest rates (maybe bonds too) and a trading program. It was called LF Currency but the darn thing crashed (it was DOS) and developer blamed me and wouldn't give me a new copy. Buggy since day 1. Too pissed to even bother spending 2 grand again for that. It's been years since I used Metastock.

Funny how floor traders make money at the exchanges then lose their shirt when they try to trade like the average Joe listening to news and experts. Guess contraians will always have their place.

 

[Stonefree69]

Another article in today: Samsung makes good on threat of patent suit against iPhone 5 Down pretty good today! Funny how you do good w/no real money in it, that's if you're a trader not a newsletter expert.

 

[Nondual]

Hey what do you know AAPL touched it's 50MA today. At this point looks like a general 'normal' market correction going on across the board.

 

[Madrus Rose]

^^ You think the overall market is going into correction? I am short for this week but feeling next week might be a pop up.

on selective basis , SPY short was good from 148 , they're still kiting things up into earnings....

NetFlix

* That options friend did it again hitting another big one buying handful of calls on NFLX monday for around 9c and turned that $900 worth into $35,000 in 3 days after doing that $50,000 48hr CMG score before. Gave you the link to catch some of his plays/calls , so if you followed him this week you wouldnt have missed him jumping on that NFLX trip bottom on monday .

Everything fell into place with upgrads & Whitney Tilson pumping and momo players jumping in, cant post on IC Mag often , its the most painfully slowest site on th entire internet for me .

 

[Madrus Rose]

CMG got Einhorned & Taco Bell'ed ....$285puts went from 5c to $7 up almost 10,000%....AAPL hit & sold off from the same right shoulder of possible H&S pattern developing with 680/75 & promptly sold off as did everything else they ran up as SPY tagged double top @ 147 in the am for the easy fade again .

Samsung announced last night that YOY sales doubled blowing away estimates & analysts thought mainly due to sales of Galaxy III...for Apple not exactly music to the fanboy's ears

 

[yesum]

I am gonna guess next week is down for the market. I missed this as being a down week, but did get the unemployment number would not move the market much.

You are making me crazy with those option moves Madrus! Make a damn fortune in a day.