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

[Mountain]

If I was a real trader I'd be scared to go short.

I really don't see the general market as a short at this point but there's always something that's showing up as a potential but most stuff follows the flow which now is up. There may be a correction coming up but do not see things topping. I was mainly interested in what people thought and how it might show up based on their perspective. I don't watch the things you do so your input is interesting.

The Fed has to keep printing money at this point.

 

[TNTBudSticker]

Here is a Chart School link.Tells all about technicals of trading,investing and the Technical Indicators and Overlays.

http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators

Check out YUM on the 25-100MA..Hopefully it holds and up it goes some more.We have a Double top at 52 level..Given which way we're going..it may breach it.

Someone asked me if I trade or invest.I use Scottrade.com...very cheap.

$14.00 for one trade or $7.00 one way.Very easy interface and another place to park the money ;-)

 

[TNTBudSticker]

Well...Today Gold popped Up $15.00 So that will make the GLD stock go up ..Not sure whats the opening price in the morning.Even oil jumped almost $4.00 per barrel.Silver is just moving on up.

The 25MA works pretty good here with GLD.

 

[Mountain]

The 25MA works pretty good here with GLD.

WTF are you talking about? The 25 MA has been flat lined at 132 for a few days and is basically useless for short term trading. The only MA worth anything lately is the 10 especially after the bullish crossover a few weeks back early in Feb.

I'd expect GLD will blow thru 136 with a gap and now 138 looks like a target and at that point maybe short term overbought. I thought 136 but seems obvious a country collapsing over a few days throws that out the window...lol!

For shits and giggles gonna fire up my recent watch list and expect KOG to gap and also will check out GLD and a few others. Will be fun along with the morning java! Should be some crazy volume and volatility near the open in some select areas.

 

[Mountain]

Here's GLD with 10 and 25 MA's. The bullish crossover thru the 10 happened early Feb. Easy to see in retrospect that the pullback to the 10 converging with the 25 was a safe entry. Now the 25 is lagging badly and would be looking more at $ resistance levels or other indicators to take profits near term.

GLD responds better early Feb to it's 20 (resistance) but better to it's 25 (support) mid Feb. Still the 10 IMO is more important...first through resistance on the crossover then at support on it's first pullback. IME look at the first pullback to a stock's up trending 10 MA for an entry after it crosses over as this confirms the new uptrend. This is when things are hot then the next place would be the 20 on the pullback.

This is all hindsight but what's it gonna do now? Anybody getting in now is chasing.

 

[Madrus Rose]

there's that lower double~top its reached right in here @ $136 now , ez to figure it would return at least here after getting into the oversold area $128 ... which also coincided with previous late oct lows too . (support)

Now for some congestion or what ?

(2yrs from now , we just don't know ...gold could be $2500/oz !! )

world is a crazy place <g

 

[TNTBudSticker]

The 25 MA has been flat lined at 132 for a few days and is basically useless for short term trading. The only MA worth anything lately is the 10 especially after the bullish crossover a few weeks back early in Feb.

My 25MA works for me,the 132 didn't stay flat..it kept crawling pennies a day ..Yup..pennies...Got to watch it.....

.Anyways..I look at the 25MA-100 then sometimes the RSI..It's not useless Until you tried it.It's a moneymaker

MMG..Gimme a contest win!! lol

I found out some good news for investors.

"Thanks to the strong earnings,the bottoms up estimate for S&P 500 this year currently stands at $96.04
Which means that the S&P is only trading at a PE of 13.9X current estimates.That is very reasonable by historical standards.

Now consider the earnings yield of stocks,which is dividing the $96.04 in earnings by the
current S&P price level.That comes out to 7.2%,which is VERY attractive compared to the meager
3.6% yield on the 10 year Treasury.
This last point has been a big driving force behind the rally in stocks that takes us to where we are today.
There is plenty of room for it to reach higher valuations without being considered too pricey."

 

[Mountain]

(2yrs from now , we just don't know ...gold could be $2500/oz !! )

I was watching some guy and he was talking about the need to return to the gold standard, even some states are talking about minting their own money, and he said a reasonable price for gold would then be about $7,500 per ounce.

 

[zenoonez]

Ouch day in the market so far... Hope everyone is doing better than the market.

 

[Sam the Caveman]

Seriously zenoonez, I'm getting beat up pretty bad in my positions, except for CRZO, I exited at 37.30 this morning, thats a 7.9% gain for me. Thanks Mountain! Looking at CRZO now, I'm glad I got out where I did because it fell off with the rest of the market after that.

 

[Mountain]

Ouch day in the market so far... Hope everyone is doing better than the market.

Yeah lots of selling and increased volume from Friday's option expiration does not bode well for the general market. I'm not invested in any way so just observing. Honestly was keeping an eye on buying some QQQQ puts very late last week and was hoping for a move on the NASDAQ to push it closer to 2860 early this week but saw that wasn't going to happen as Libya blew up. All the setups I was watching had passed and things were extended from sensible buy points. Even with the large pop in oil many oil based firms reversed as the day progressed. AAPL taking a big crap and not helped by antitrust allegations with their new subscription service the other day and major market weakness. Pretty wicked drop to it's 50 MA in 2 days on high volume.

 

[zenoonez]

-5% for me on the day. Could be worse I guess. I am hoping to bounce back by the end of the day. I still get bought into stocks with more heart than I should. Hoping it doesn't bite me too hard by close.

 

[Mountain]

Thanks Mountain!

You owe me a beer! NOT..lol. Now's the time to watch which stocks hold up during what seems might finally be the correction I was looking for a few weeks back and thought was imminent late last week. I'd be looking for any bounce here to enter some short positions at least in the near term. Even SLW is giving up it's gains and man was that looking frothy this morning! Big reversal today.

 

[zenoonez]

Got worse. Had to bail at -9. Crap day. Lets hope tomorrow is better and hardcore bullish. I need a drink lol.

 

[Mountain]

-5% for me on the day. Could be worse I guess. I am hoping to bounce back by the end of the day. I still get bought into stocks with more heart than I should. Hoping it doesn't bite me too hard by close.

Seems like a definite change in market tone today. On the flipside...

The share of Americans planning to buy an auto in the next six months rose to 13.2% this month, easily the highest reading since the Conference Board began tracking this measure in 1978. Auto sales for GM(GM), Ford (F) and others have been hot in recent months.

I dunno...if the situation in Libya clears up fast I'd look for a pop to short. If nothing else buying some puts is cheap insurance to protect against any major downside move.

Weakening near the close...new lows in QQQQ, SLW and others while oil EFT's stable. Volume is picking up near the end. The tide is going out and think any dip buying in the near term is a bad idear.

 

[zenoonez]

The tide is going out and think any dip buying in the near term is a bad idear.

Qft. Got my ass out of the dip and lo and behold its recovering. Not jumping back in though. Too many bear sharks in the water this afternoon.

 

[SpasticGramps]

Stocks getting monkey hammered today. Maybe this is the correction everyone has been talking about? Libya, gas prices, Case Shiller showing housing prices continue to fall, even a few CNBC talking heads mentioning the word stagflation. But consumer confidence is just soaring! lol.

Multi-day correction ahead maybe. Ben can only do so much.

 

[zenoonez]

I hope it isn't a multi day correction but it is far overdue if it is. Ouch is my only response. Rough day indeed.

 

[SpasticGramps]

What about short interest being as low as it's been since Lehman? Without the natural short covering bids I wonder what any correction will look like? I wonder if a lot of this rally recently has also been short covering too and it's maybe running out of gas?

Or could could just keep on going up like it's been. An unstoppable train. We'll see.

 

[Madrus Rose]

Libya unrest & oil prices surging 6% rattled market....this drop was pending after a solid week of gains ....now the fear premium stalking the markets as they worry north Africa revolts instability may reach over to other OPEC countries especially into Iran.


Definitely was getting overbought , sure they were happy with these last 22day
surge of gains ...everywhere seeing that weaker 2nd touch to the 70rsi , AAPL shed 11pts today exactly similar chart .