Flashing red warning!!!!!! Market correction is coming.
I've been looking charts of the SPY and QQQQ and it's telling me that a correction is coming very very soon. We are so long on the tooth with this bull run that started last July and has yet to correct. I believe that time is here.
Please shave off most of your long positions and keep 50% cash at least, so you can buy the stocks you love at the bottom of this correction.
SPY 140 April puts (which closed @ 1.75)
QQQQ 44 April puts (which closed @ 1.45)
Please play small on options. You can add a little more as the selloff gets confirmed.
Good luck.
Please shave off most of your long positions and keep 50% cash at least, so you can buy the stocks you love at the bottom of this correction.
SPY 140 April puts (which closed @ 1.75)
QQQQ 44 April puts (which closed @ 1.45)
Please play small on options. You can add a little more as the selloff gets confirmed.
Good luck.
posted by beanie11111 | 8:11 AM
51 Comments:
AAPL on this gap up can be shorted in the mid to high 86.
1/2 position since it's too early. Then put in the other 1/2 if it rises after the open.
beanie, what to do with google??
anonymous,
Regarding GOOG, I dunno. But you can decide what to do with it tomorrow, if you own a position.
hey folks,
i'm not saying the correction will come today. It could be this week or next week.
AAPL: nice trade. lol
NYX: looks like a daytrade short here at 100.65
kapow! kapow! Kapow!!!!
wheeeeeee
CTEL is on the move again...
XING NEW 5 YEAR HIGH!!!! 17.42!!!
die AAPL die!!!
hi beanie,
is aaple still a good short here... 85.55?
thanks,
mark the rat
CRM: go Benioff go!
CRM will become a behemoth in the future is my opinion. CRM is one of Beanie's 4 Horsemen.
mark,
At mid 85, don't short it. Either short above 86 or short below 85. Meanwhile, let the bulls and bear battle it out.
aaaahh shit, i shorted 500 at 85.55
let's see what happens...
-mark the rat
mark,
i mentioned the same thing before regarding mid 85. But i think you'll be ok. The market is really due for a good rinse. Hold your short.
aaple to 70! :)
beanie, you think OIL and GOLD are good to go long here?
looking back, aaple was a great short at 95
-mark
http://www.marketwatch.com/news/story/recent-pullback-has-yet-inflict/story.aspx?guid=%7B0E20EABA%2D39F3%2D46BE%2DBEF4%2DE8A7A41E024C%7D&siteid=yhoo&dist=yhoo
I think the only reason the techs are holding here is because of GOOG earnings tomorrow. It should be a blowout and gaps up the stock, but after it should crap and take the rest of the techs with it.
jmho
AAPL: looks like a good short here again. 86
AAPL has got very strong support at around 85.5
beanie,
would you go 100% cash + 100% margin in google today?
-mark the rat
mark,
100% margined? c'mon man.
lol
Let's go back to the study room and look at "Risk"
die AAPL die!!!
AAPL: could this be it? hold onto your seatbelts! lol
how about IPSUW?
http://finance.yahoo.com/gainers?e=us
-mark the rat
JOB a good short?
-mark the rat
nevermind about IPSUW
thanks,
-mark
Hey beanie, do you know a quick way i can make 200 bucks today before the market closes....my balance is under 25,000 which means i can't daytrade after today if the market closes with my balance below the 25,000.
thanks,
the rat
Maybe you should take that as a sign Mark the Rat.
haha yeah it is a sign....a sign that i need to make some money today!!
:)
-the rat
I hope everyone made a quick 10% profit with RNIN. My new pick is CPSL.
anonymous,
surely i probably SHOULD NOT be daytrading....but it's fun so i do....i had a very good return last year (10k return with only 15k of capital + margin at times)....but again, 1 year means nothing in the long run, and i know i shouldn't be doing this.....however my goal is to learn more and practice makes perfect. unless you know a better way to make money?
-mark the rat
speaking of daytrading, whatever happened to Pam?? LOL!
lmao!!
Beanie, what do you think of GIGM?
And correction more in the Nasdaq, or across all markets?
That market watch article says basically we've been in a 10 week holding pattern.
"Is the recent 10-week "flattish" period the precursor to a major trend reversal? Or conversely, is it the cooling off period that enables previously overbought indicators to "reset" for the next leg higher?"
joerawr (been reading your blog for awhile, time to jump in)
i heard pam was trading in prison or something..........ROFL...just kidding pam...hope you are good
-the rat
AAPL: very low volume today, so don't take the direction of today's move too seriously.
joerawr,
GIGM looks great technically and fundamentally.
The dilemma:
i believe the market will be up in a big way this year. But at the same time, a correction is due. I just found out that Mark Faber is calling for a 20% market correction sometime this year. (Mark Faber was the guy who called the 1987 crash ten days before it happened.) I don't know if that's gonna happen. We just cannot have a serious and extended correction and yet be up in a big way by the end of the year. Maybe we get a quick crash and move on?
we'll see.
I gotta go now.
I still hold a long position in NYX.
I already covered my AAPL short. Will see what happens tomorrow.
See ya tomorrow!
CPSL on fire! Good call Anon!! You made me a very quick $1000 profit!
Brett :-)
beanie,
any thoughts on CAPA?
made a dumb trade, 4700 CAPA, but i got over the 25k that i need so i am happy.....looks like it's moving up....
what do you think? thanks,
-mark the rat
SBUX earnings tomorrow. any comments ? good to enter before close ?
Hi everyone,
I haven't posted in a while....re: Starbucks, this is the end of what has been a traditionally very strong quarter for them (Christmas sales and significant gift card sales). They've also beginning to make a strong push into China, India. I may be totally off on this one, but I'd hold for a gap up after earnings and then sell. Just my opinion.
best,
Neil
Anyone have any comments on ZANE? I bought after the big runup and selloff. Average around 2.20. It has been sliding since. beanie?
Momentum on CTEL is picking up. Should see another big pop this week!
SNDK and JNPR down hard in the AH. Can you go wrong with shorting into earnings these days? Expectations are totally out of whack.
in AH, SIRF is up 17%, WSII is up 9.33%, CYMI is up 4.5%, CKFR is up 5.18%
man, can you go wrong with shorting? Um, yeah. It's a stock pickers market.
best company to go "all in" before earnings....
sbux? goog? nyx?
anyone????
-mark the rat
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