Wednesday, November 12, 2008

long TF @ 468

353 comments by xTrenders :

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James said...

rut2K looks like bottomed

Mr. L said...

hi!! bottoms are nassstyyy

elmo said...

Long ES @ 868

Lawrence Chiu said...

NYSE up volume is 89%, down volume is 10%. This is bad bad bad.

elmo said...

why is it bad?

LearningWizard said...

why is that bad?

Salvador said...

Lawrence Chiu said...

NYSE up volume is 89%, down volume is 10%. This is bad bad bad.

-----------------------

what does that mean ?

Lawrence Chiu said...

Typo above, meant: NYSE down volume is 89%, up volume is 10%. This is bad bad bad.

STLKID63141 said...

Deal me in............Long UWM @19.35 50 %

elmo said...

volume will follow

indusequities said...

indusequities said...
SSO flush target is 24.90

Tuesday, November 11, 2008 12:15:00 PM EST

---

thats the worst.. initiate the buy here

dhw said...

wedge break to the downside seems to suggest 855.

nacho said...

ES 840 looks like a slam dunk to me. That would complete the low end of the forming channel.

Lawrence Chiu said...

In TOS, go to Charts tab, type the following in the ticker box: $UVOL-$DVOL

Compare with previous days. It is just a straight line down. Looks just like Wed and Thu last week.

Means that volume of declining issues is overwhelming volume of advancing issues.

txtornado42 said...

anyone use the 3x drexion funds? bgu insted of sso?

Mr_Lahey said...

If that idiot Paulson would shut his yapper, we might go up!

Salvador said...

Lawrence Chiu said...

Typo above, meant: NYSE down volume is 89%, up volume is 10%. This is bad bad bad.

--------------------

I see it that downside has not much to go... if they are already 90%...

reversal is close that's how I read it

dhw said...

Not me, losing my money twice is fast is painful enough. :-)

Homer said...

Blogger Lawrence Chiu said...

NEW POST

Thanks for the reminder.

ROLLER said...

if we were going to tank the market would be using the Paulson speech to do so, instead we are gaining strength ... well, a little bit at least.

Whoever bought below 870 is gonna be pretyy frikkin' happy come 4pm

ROLLER said...

Mr. Lahey ... you da best!

Trading Signs said...

Guys,

Relax for a bit. Every second you guys change your predictions. Let’s forget the prediction game and focus on the actual charts. If we are following Atilla’s picks and market calls, we should be thankful to him and try to understand the useful information Atilla and other members are providing.

Thanks,

robo said...

Deal me in also Long TNA @ 37.50

LearningWizard said...

How much of the 700B has already been spent?

Mr_Lahey said...

Thanks, roller, you crack me up, too. :)

Chuk said...

"How much of the 700B has already been spent?"

Around 250-300B. Except they didn't buy anything...

Darwin said...

Atilla, bought "large" SHORT position in MEE....breaking much lower.

Lawrence Chiu said...

$700 billion bail out bill, only half available $350b. Other half needs to get approval from Congress.

Of the $350b, I believe $290b has been spent.

johnboy - Moderator said...

I'm not sure what you're seeing yet, lads. All I see is falling knives.

Still watching....

iv said...

Long ES at 877.
all my signals are looking good for a rebound.

Darwin said...

Good observation Johnboy....SELL the bumps DO NOT buy the dips. Commercials are playing this theme.

Beyond said...

TNA's volume seems pretty light, and the spread seems some what wide. But it's a nice fund for me to keep an eye as volume picks up, thanks.

Pala said...

Pcap said...

"So bury the gold where you live, then move to New Zealand? Or do you bring the gold with you and bury it there? What about your gun? Can't just import those willy nilly into Commonwealth countries."

------

Such linear thinking. You'd make a good programmer.

nacho said...

Which technical level will provide support between here and 840? I don't see anything. What am I missing?

thanks

iv said...

meant to type 867...sorry.

AZ said...

Added %25 more SSO @25.6
Added %25 more DIG @28.5(lot is full)

iv said...

low is already in or will be at 859...

Mark my post and of course if you think 840 is coming ..please wait...lol.

We are going to see a higher low!!!

Eurobear said...

868 broke, so for me its 851 next resistance level.

I'm seeing noting positive yet, finger on the trigger though.

AZ said...

volume is back, market is churning at this level. move is coming either way. My view is up.

Atilla M. Demiray said...

biggalow eat that block suckaaaas

Atilla M. Demiray said...

that went through 866

dhw said...

big boys back from vacation?

Mr_Lahey said...

Say what?

Atilla M. Demiray said...

whales put their bikinies on.... big fat ones .... about to jump into the pool

importer said...

SMH not making new and QQV collapse. Sorry I posted this on the previous thread

ROLLER said...

Attila 'sees' things!

Atilla M. Demiray said...

yehaaaaa

Eurobear said...

We're about 40 points from the 52 week low of SPX. 869 and 839 Is that not now becoming a huge magnet ?

Its certainly can be classed as a test given how close we are. If that goes I expect all hell to break loose

Atilla M. Demiray said...

Folks we should take out yesterdays high around 917 by afternoon

put your belts on

Trading Signs said...

Atilla M. Demiray said...

Folks we should take out yesterdays high around 917 by afternoon

put your belts on
=====================================

Click. Its on brother.

Mr_Lahey said...

Well, I got my speedo on.

Steve said...

seat belt on..

Atilla M. Demiray said...

I am gonna count down before you see a 5 inch stick on 5 minute

10 .. 9 ...

Susannah said...

OK, long ES, CL, short ZB

Alan B said...

Im clipped in as well

Tigre said...

Forming an Inverse H&S, like yesterday.

Vader711 said...

This morning gap at about SPY 89 should be filled at a minimum...It's getting there slowly but surely.
Baby steps. Party on Atilla!!

Joe said...

Atilla, Footlonger would have been nice, than 5 inchers.

So what is the EW count now ;)?

ROLLER said...

screw the speedo ... I'm goin buck naked!

mikee1422 said...
This comment has been removed by the author.
Mr_Lahey said...

Well, roller, considering that you're long, I don't want to see that!

dhw said...

whales taking their sweet time.

mikee1422 said...

I meant Nov. 50 calls at .98, duh

Tor said...

Trend day down. Im getting worried here.

I am tightening my stops.

dhw said...

What are the odds that we crash to new lows below 10/10?

Whales are being overrun by sellers.

ROLLER said...

remember the OCt 28th rally?

that didn't get boogie-ing 'till the aft.

Salvador said...

3...2... 1 ? Atilla ? :D

Pala said...

This market is FUBARed. It's not going up no matter what trend lines you are looking at.

PCap said...

Chuk said...

"How much of the 700B has already been spent?"

Around 250-300B. Except they didn't buy anything...

-----------------------------------

They bought a lot of bank preferred shares

Will C said...

870 is the support.. the longer we hold here and more likely it will break and further it will sink. for the market to rally, yen has to go down and oil has to go up.

apconcen said...

WINACE...3 people and me took the bait fir his 'private' blog...total members posting...2..he says Atilla is irresponsible

Lana said...

Roller I am now trading with my eyes closed!

Atilla speak up so I can hear ya.

apconcen said...

WE WILL CRASH TODAY.....very few will be short...ES699 by 3pm

then the rally Atilla is looking for

taser said...

killer whale (atilla) vs whales.


my take on the market.

the whales are reading this blog and real pissed with akilla braging about his 600es points.

the blog has a lot of followers and now the whales are going against akillas calls.

end of day we become the suckers for following direction of trades initiated by akilla



or atilla is calling bluff since he knows the whales are after him.so his trades are the opposites so that the whales are conned and atilla is still making huge.


but end of day and the forumers are suckers.

what do you think atila.


just a thought, tell me if im right. ha ha

stockaholik said...

Interesting to see if boyz will close an hourly under 8400 to pick up some more cheap shares. If high volume + stabilized prices in SPY, we will fly. It's already there, just wonder if there will be another battery of volume @ the hour or 5 after...

Anyone want to comment on XLF as a proxy for this run? It's draggin'. Any thoughts on whether it will explode or should I just switch to my usual vehicle (SPY)? I am afraid that SPY will outperform if the autos get some love...

Trading Signs said...

I think we are heading north now.!!!!

Mr. L said...

ya atilla is tipping the scale on a worldwide basis, manipulating trillions and trillions of dollars over a million dollar account

ROFLMAO


wholy shat my word verfication is "bearade" not joking!

STLKID63141 said...

Swing Baby Swing

Tor said...

The 20DMA on the 5 min chart offering formidable resistance.

Lana said...

We've made a Chapman D on the 5 min. Thats a swing count. So Trading signs it could be now!

txtornado42 said...

Atilla,

I call a five incher the hulk or big green.

MarketCapper said...

Appears to be some minor support around 865.

VIX has tested 66 at least 3 times this morning.

We need a turn around soon, it's getting painful to watch.

Lawrence Chiu said...

Whales do not read this blog. Look at it this way. Tim Knight's blog gets 5 times more readers and he's making a lot of money, you don't see whales trading against TK. Reason is TK is nearly always bearish and has been shorting every rally.

txtornado42 said...

882 is a master square on a gann count if we get thru that catapult happens

Atilla M. Demiray said...

test

Mr. L said...

hi!

Atilla M. Demiray said...

Now this is nice, there is a moderation option we can use.

All the comments you post appear after moderated. Unfortunately we had to do this.

You can post comments but there will be a few minutes delay

Thanks

tradertoogood said...

Lawrence.chiu,

TK have been a bear forever, so even a broken clock is twice correct. He stayed staunchly a bear even in the 90's. This is is the first year or so he actually makes money as a bear, in my humble opinion. He has puts and calls these days, so he'll never be wrong again, ever. Roflmao.

elmo said...

yeheaaaaaaaaaaaaaaaaaaaaaaaa

Atilla M. Demiray said...

We have put a nice bottom for the rest of the option expiration period.

I am positioned in ES and TF for a nice rally into opex.

Beyond said...

Is it just me or is the Russells weaker then the S&P. You guys think it will catch up when we start to rally?

PCap said...

Pala said...

Such linear thinking. You'd make a good programmer.


------------

Thanks, I'm a quant :)

Perry said...

Well I have to ask...is your thesis for today, spelled out prior posts, still intact? Thank you.

Mr. L said...

think we will see 850 today atilla?

BKLNYC said...

Atilla,

Is there any price level at which you will question your thesis?

Thanks!

Susannah said...

I think CL (crude oil) has bottomed here, too. Shorts have to get out of the current contract before the 20th to avoid delivery. I don't think there's a lot of downside currently and the potential for a nice short squeeze.

mikee1422 said...

Come on baby let's see a nice rally....

Shawn said...

VIX at $66 got to break down. We have tested this resistance 4-times today.

If it breaks above, bull is dead today.

Let's hope our Atilla's magic is right!!

ROLLER said...

NQ is weak here ... it's gonna lag the rally?

Any thoughts ...

PCap said...
This comment has been removed by the author.
taser said...

so lawrence, the trend is your friend one should not trade against the trend.

posted recently by atilla ..jessie livermore

""""the big money was not in the individual fluctuations but in the main movements- that is, not in reading the tape but in sizing up the entire market and its trend"""""


ps i am not an atilla fader. a bounce should occur very soon cycle low in

Pokerden said...

Atilla,
Do you think the jobless claims and employment situation will have an effect? Or will it shrug it off like last week...and then we get pounded later.

pokerden

PCap said...

JPY is turning around, made a higher lower at 95.5ish.

Big low today was 94.50ish.

So, who's got the balls to put the carry trade back on?

Mr. L said...

PCap what u buying at these levels?

indusequities said...

for those who still are waiting for the exact bottom, please read..

The whales Atilla mentioned is not average joe and they know what they are doing.. They use the short term sentiments of investors to buy into their investment accounts

Enjoy the reading

For example, when the Dow average advances after a major bottom has been established in the market and then moves back down to that bottom for a second (or third) time, the investor is always told that “the market is testing it’s bottom.” This is an absurd idea for an operation in which the short sale has been employed to halt the advance caused by public demand for the stock at wholesale price levels.

The public, in other words, has moved into the market to soon and had acquired stocks that, in the opinion of the Exchange “rightfully” belonged to insiders. As prices rise, selling short to supply public demand halts the advance. Then once demand falls off, prices are pulled back down to wholesale price levels and investors are told, “the market is testing its bottom.” In the course of this decline specialists are able to
do two things:

1) Shake out investors who fear the market
may again go lower.

2) Accumulate additional inventories of stock for a second set of investment accounts.

Public selling at the bottom is what enables the specialist to employ his short covering operations. These transactions then serve to halt the decline. Thus we see that another major function of the short sale is that it enables specialists to absorb public selling in the course of a decline and to halt it at a predetermined price level.

When public selling has exhausted the covering potentials of the specialist’s short sales, specialists purchase the additional stock being sold by the public for their own accounts before taking prices up. Thus, the short sale instrument allows the specialist to control stock prices in much the same way as you control an elevator, advances can be halted and declines begun with short selling, while declines can be halted and advances begun with short covering.

dhw said...

So Atilla, do you believe that weird wolly weds has some validity?

elmo said...

yeah buddy!!!

jay said...

IWM Option Pain: $60.
Presently trading: $46.
Ouch!

PCap said...

Mr. L said...

PCap what u buying at these levels?

--------------------------------

Selling my FXY, buying some SPY, SMH.

My futures account is just for fun now (1 contract at a time), may go long if we get over 885 in that account.

If we get a good rally here, TBT will be good too.

stockaholik said...

oil about to touch a bull trendline from '98.
volume and price stable on GS
DXY about to break an ascending wedge and drop.
Libor coming in
McO
Sentiment (Qualitative)

Most of all volume, IMO. Good luck all. Am long.

txtornado42 said...

above 875 this time giddy up long and strong

Tor said...

Resistance Level Description Significance
3rd 1058.0 14th Oct Dow Theory high Key (for a Q4 base)
2nd 998/1001 Congestion area Minor
1st 966/68 Congestion area Minor
Support
1st 866/68 Congestion area Minor
2nd 834.7/38.5 October (and 2008) lows Key
3rd 806.0-10.0 Bull gap 13/03/2003 Intermediate

tamas said...

Atilla, this doesn't "feel" like a bottom to me...

How are the page views today?

Tor said...

Levels to watch out for:

Res Level Desc Significance
3rd 1058.0 14th Oct Dow Theory high Key (for a Q4 base)
2nd 998/1001 Congestion area Minor
1st 966/68 Congestion area Minor
Support
1st 866/68 Congestion area Minor
2nd 834.7/38.5 October (and 2008) lows Key
3rd 806.0-10.0 Bull gap 13/03/2003 Intermediate

silverlining said...

Nice post indusequities.

I know Atilla thinks stops are for losers, but for us mortals, I highly suggest placing stops under today's lows. There is a lot of risk under there as an army of shorts flush with profits are waiting for that level to break. Search your emotions and find that which you fear and then act to remove that fear. It will greatly improve your logic if not your trading.

Thanks to all for your valued opinions.

PCap said...

As an aside, the 2 year swap spreads went under 100 today, but are back above at 101.50... been a while since they were this low... since mid September.

Also, from 2003-2006, the spread was about 40bp +/-10

buylo said...

test

Vader711 said...

Eventually we will fill morning gaps. It's how the markets react at that point that counts. Yesterday they
sold off. Hopefully today they will pull back a tad to
fake out and then blast off.

Chuk said...

"They bought a lot of bank preferred shares"

They were glorified loans. Govt will be lucky to get paid back. Forget about receiving any upside in the equity investment.

danny said...

Interesting article indus.

One question though. How much of a role do specialists play these days? And dumb question, but are ECNs controlled by specialists and MMs or are they just transactions between individuals? Thanx

xvidivx said...

I found a good indicator that imply we will bull today and tomorrow.

Most Chinese stock still bull, That mean the whales are prepare rally of asia market tomorrow.

Sam said...

indusequities,

Will you please share that white paper you mentioned a while back? Would love to read it. Promise I won't share with anyone else. :)

Thanks!

Steve said...

Induse,

Thanks..Your post reminds of Richard Ney...Too bad he is not around anymore..I used to get his report.

http://www.hermes-press.com/neyint.htm

johnboy - Moderator said...

Nibbled at 872.

Yet to be convinced. Volume is poor. At least it's not raining falling knives any more!

Mr. L said...

here we go, my leading stocks have already started 1min ago rally

in the mountains said...

Tor said...

Resistance Level Description Significance
3rd 1058.0 14th Oct Dow Theory high Key (for a Q4 base)
2nd 998/1001 Congestion area Minor
1st 966/68 Congestion area Minor
Support
1st 866/68 Congestion area Minor
2nd 834.7/38.5 October (and 2008) lows Key
3rd 806.0-10.0 Bull gap 13/03/2003 Intermediate
-----------------------

Hi Tor,

Where did you get those numbers?

thanks!

Atilla M. Demiray said...

Steve said...

Induse,

Thanks..Your post reminds of Richard Ney...Too bad he is not around anymore..I used to get his report.

http://www.hermes-press.com/neyint.htm

Wednesday, November 12, 2008 12:55:00 PM EST
------------------

Ney revealed the truth about the mob. Some of his theories about trading is incorrect but he saw a lot of things that people couldnt even imagine ....

This must be written on NYSE wall:

"Con of the man is so dark"

StockRake said...

Finally some freaking bullishness on the short term charts. "Hope" it rolls up.

xvidivx said...

Now I am watching FXP, FEELING it will drop deeply for Asian Rally tomorrow. I don't think the bounce of Chinese stimulus package is end only one day

PCap said...

Chuk said...

"They bought a lot of bank preferred shares"

They were glorified loans. Govt will be lucky to get paid back. Forget about receiving any upside in the equity investment.

--------------------------------

I didn't say they were good buys... as an aside, Nortel (NT) has some preferreds that aren't getting paid and are non-cumulative selling for 70 cents if you want to throw some money away.

Steve said...

Atilla, thanks..

in the mountains said...

PCap said...

As an aside, the 2 year swap spreads went under 100 today, but are back above at 101.50... been a while since they were this low... since mid September.

Also, from 2003-2006, the spread was about 40bp +/-10
----------------------
Hi Pcap,

So what does this mean with respect to stocks? What happens to stocks when the spread goes under 100, and what happens when above 100?

thanks!

xvidivx said...

Atilla,

I wonder why the TF is not strong like Emini?

What are the differences of TF and ES

Atilla M. Demiray said...

xvidivx said...

Atilla,

I wonder why the TF is not strong like Emini?

What are the differences of TF and ES

Wednesday, November 12, 2008 1:04:00 PM EST

-------------

They are different index

TF is Russell2K
ES is S&P500

TF looks weak somehow, this happened after 11:30

Trading Signs said...

Those who are waiting for 840-850 levels get in now. Or else big dowgs are going to push this thing higher and by the time you realize it will be too late. This thing is going to take out Oct highs.

Expecting 800 levels in Jan-Feb 09

aymon said...

i think goog is a nice buy around low 300 with 299.99 stop.

danny said...

Atilla, I'm in with you on this long trade, but do you think 900-920 is a good short before it resumes it's climb to 1000+? thanx

dhw said...

We need to break above 880 or so, above that resistance line formed when the ascending wedge broke down.

dhw said...

descending wedge I mean

Earl said...

test

Vader711 said...

Just to re-affirm the a.m. gap on SPY is about 89
We will get there, but must watch carefully how the markets react at that level. Many will be shorting.
Let's cream those shorts!!

sonny said...

Atilla M. Demiray said...

xvidivx said...

Atilla,

I wonder why the TF is not strong like Emini?

What are the differences of TF and ES

Wednesday, November 12, 2008 1:04:00 PM EST

-------------

They are different index

TF is Russell2K
ES is S&P500

TF looks weak somehow, this happened after 11:30
Wednesday, November 12, 2008 1:06:00 PM EST

-----------------------------------

Atilla,

Only a thought since as you know, I'm no expert at all, though could it be because the energy stocks (of which there are lots in Russell2K) are lagging? I also noticed between 11:30 and 12:30 both Russell2K and NDX fell, while SPX and Dow were almost flat. Was it the whales trying to get everything in line so they can buy everything at the bottom?

Lana said...

Sticking my toe into gld with tight stop. See DXY double top. Gld low 69.07ish on 10-24.

We'll see

PCap said...

Check out the turn around in JPY

http://img152.imageshack.us/my.php?image=jpy20081112sx8.gif

dhw said...

I think 1 more low to 860 will mark the bottom.

PCap said...

in the mountains said...

PCap said...

As an aside, the 2 year swap spreads went under 100 today, but are back above at 101.50... been a while since they were this low... since mid September.

Also, from 2003-2006, the spread was about 40bp +/-10
----------------------
Hi Pcap,

So what does this mean with respect to stocks? What happens to stocks when the spread goes under 100, and what happens when above 100?

thanks!

------------------------

100 is just a round number, a psychological barrier, but the lower the swap spreads, the less fear there is out there. Most of that spread is so high because of counterparty default fear... which is abating.

Perry said...

rinse or watch?

Beyond said...

Looks like the Russells is gaining some ground, come on baby!

stockaholik said...
This comment has been removed by the author.
in the mountains said...

Just took a look at the wave structure on the 2 minute chart. Since yesterday's high I can count 3 waves down, where the 3rd wave extended. The sideways consolidation this morning is likely the 4th wave, so that means the 5th wave is ahead of us. likely target is 855. that would make wave 1 = wave 5, and would complete the "d" leg of the big triangle that has been unfolding since the October 10 low.

silverlining said...

XVIDIVX,
I really think you are onto something with FXP. I have been watching it close on the assumption that as China is our defacto manuf. base would be hurt more in this downturn than US. I was wrong and its 6 mos. downtrend channel has been broken as of Monday. Since March, the FXP has had about a 2 week lag on the US market. I am not near as talented as some other traders here, so I would appreciate some other views.

Greenie said...

What happened to Sol? Did he retire?

silverlining said...

My guess is we see a decent move around 1:45- 1:50. Wish I was more confident of the direction.

xvidivx said...

Atilla,

Only a thought since as you know, I'm no expert at all, though could it be because the energy stocks (of which there are lots in Russell2K) are lagging? I also noticed between 11:30 and 12:30 both Russell2K and NDX fell, while SPX and Dow were almost flat. Was it the whales trying to get everything in line so they can buy everything at the bottom?


-------------------

Thanks for explain,

I just wanna know the difference components of SPX and russell.

dhw said...

he took his 5 mill and went home.

I wish atilla would trade my acct. :-)

Shawn said...

FXP? China?

Who in their right mind would buy/sell FXI and FXP?

Pull up a chart and you would see that FXI/FXP is more co-related to USA instead of china.

In fact it has nothing to do with china. Something like 90% co-relation to USA, if my meory serves.

Mr. L said...

last leg down here, 853 could be hit real quick, holding my longs for the close to 900+

Eurobear said...

Sol is doing Nascar now. Atilla is being his sponsor

c.m. said...

I guess by now all the bulls are on the bus and all the scared shorts are out. Who is going to push the bus? I don't think we hit bottom yet. I might be wrong as I often am but this sure doesn't look good.

mike said...

test

Vader711 said...

So far today all hourly candles on spy are dark.
We need a white one to blast off to the gaps.

Greenie said...

"My guess is we see a decent move around 1:45- 1:50. Wish I was more confident of the direction."


I got the time marked as 1:48-1:52. Direction is flat.

dhw said...

Here's the wave pattern I'm watching. Wave 4 finished and now we need wave 5.

http://img236.imageshack.us/my.php?image=spxsharpchartsfromstockbk9.jpg

Mr. L said...

sorry i meant 850 we could hit very fast, but the longer this goes on without going down we could just go up from here

Mr. L said...

hey guys don't worry things go be worse u could be this guy!

http://www.washingtonpost.com/wp-dyn/content/article/2008/11/12/AR2008111201453.html?hpid=topnews


ouch!

Salvador said...

dhw said...

Here's the wave pattern I'm watching. Wave 4 finished and now we need wave 5.

http://img236.imageshack.us/my.php?image=spxsharpchartsfromstockbk9.jpg

--------------------------------

I have that count as well... it pushes us to 855...

scotto destructo said...

Suck it swissy...Uncle Sam want not some but all of his cash!

Mr. L said...

here come da trolls! buy signals flashing

ROLLER said...

GOOG just farted!

Dcengr said...

For the record, in case anyone cared, I am not long or short.

I will not buy this massacre.

StockRake said...

Maybe by Jan a reversal will actually happen..or not.

in the mountains said...

Mr. L said...

hey guys don't worry things go be worse u could be this guy!

http://www.washingtonpost.com/wp-dyn/content/article/2008/11/12/AR2008111201453.html?hpid=topnews


ouch!
------------------------

just goes to show how screwed up our tax system is. how much human time, energy, creativity, is lost because it? tax accountants, tax lawyers, swiss bankers, IRS auditors, etc.--what a complete and utter waste! You could get rid of all this crap with a simple sales tax.

Eurobear said...

I feel as though we're fighting the tape

Trading Signs said...

ROLLER said...

GOOG just farted!
===================================

LMAO

mike said...

another leg down. almost to atilla's 860 call for reversal. sure hope this is the final flush before takeoff.

StockRake said...

UYG got to 6.75.

Art Cashin said he has never seen a market bottom on a Wednesday.

I've capitulated.

Tony said...

Atilla,

with market being down ES down 35+,do you still see a possibility of SPX making back it above 917 today?that would be a quite hack of a ride.

Mr. L said...

the slow bleed is to get all the short term kids to sell

Mr. L said...

wow why dont they just print 850 and be done with it, im not selling until im 80 anyways, thats in 50 years

:D

Tony said...

Atilla,

do you still think that ES will close above 917 today?

Trading Signs said...

The time has come. Our baby is all set to fly.

jay said...

USD/JPY does not confirm this decline from 1:45 est.

Eurobear said...

we're now closer to the 52 week low on SPX than we were to the open this morning...

word verification:- phfwwom

Vineet said...

This is the worst carnage I have seen on this board. Too many misplaced bottom calls.

L said...

i dont see turn around, not with tis kind of volume, it will just slowly bleed to death for days

Thejuice said...

Are comments on?

Hindawg30 said...

SPY

C=A @ 85.05

Tuesday, November 11, 2008 10:53:00
Put that scenario out yesterday. Hope it does't happen but looks like a decent stop loss. Extensions could be as much as C=200% of A

PCap said...

JPY farted too, but then bounced back...

http://img152.imageshack.us/my.php?image=jpy20081112bop5.gif

elmo said...

yeah baby yyeahhhh!

So Atillas original 860 it is?

Lana said...

Well that gld play was stupid. Stopped out. Will keep looking and watching dxy.

elmo said...

I like the price action

PCap said...

SPX just went above the 34 sma on the 5 min chart, let's see if 8 sma follows and crosses, that could lead to a rally in the finish

Mr. L said...

looks like 860 did it

StockRake said...

You can all thank me later for selling out at the wrong time. It may be the only reason the market can reverse now to the upside.

IC said...

I don't think so. I think we will go down gradually from here and maybe flush tomorrow.

PCap said...

StockRake said...

You can all thank me later for selling out at the wrong time. It may be the only reason the market can reverse now to the upside.

------------------------

Thanks!

(although now that I said that it'll tank some more)

tamas said...

This ship is going down... IMO tomorrow will be a big volume day where we'll sell off sharply then reverse course even sharper.

Today is too quiet to be a bottom.. better wait for a full moon tomorrow.

Awooooooooooooooooooooooooooooooooooo!!!

katzo7 said...

Hey you guys,
I had to go out and this is what I find when I come back? You were supposed to take care of this rally, feed it and water it.
Well, I guess I will just have to di it myself.
HEEERRRRREEEE IIIIIIIIITTTTT GOOOOESSSS

Eurobear said...

its not game on yet. I'm still neutral on the direction. A gap fill is starting to feel like an escape route rather than a start of a bull run.

Vader711 said...

28.88 is a Major support line for qqqq. If that doesn't
hold......

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