We are immediate term oversold. But short term, we going down.
Let's see if we get a rally tomorrow morning to set up some (more) shorts. If no rally, well, you know what that means. lol
EBAY closed @ 32.80
BOT closed @ 168.32
ICE closed @ 143.57
The above stocks can be shorted. If they move higher, the better. Chop chop.
AAPL & NYX. The AAPL upgrade today kinda skewed up the charts. We'll see what happens tomorrow. Somehow, i get the feeling NYX will see 85 by Wednesday. We'll see.
EBAY closed @ 32.80
BOT closed @ 168.32
ICE closed @ 143.57
The above stocks can be shorted. If they move higher, the better. Chop chop.
AAPL & NYX. The AAPL upgrade today kinda skewed up the charts. We'll see what happens tomorrow. Somehow, i get the feeling NYX will see 85 by Wednesday. We'll see.
posted by beanie11111 | 10:38 PM
134 Comments:
Oversold??
Sir, the Dow Jones Industrial Average has gone without a 2% decline for seven months, the longest stretch since 1954, and it's been about four years since either the Dow or the Standard & Poor's 500-stock index suffered a 10% correction, which is only the second time that's happened.
Two days of sell off with Dow down a total of 80 points, and we are oversold.
76% of the stocks (http://www2.barchart.com/momentum.asp,) are above their 200 day MA. So, if we are oversold, where are we headed next - 100% of stocks above their 200 day MA?
That probably happened only in March 2000. We all know what happened next.
When i say 'immediate term', i mean just that - immediate term, which is 1-3 days. I would definately like to see a decent 1-2 day bounce. If we keep on falling vertical like this, the recoil action on the rebound can really hurt us if we get in a little late on the short.
HangSeng down by 350 points.
India sensex down by 150.
I am going short big time tomorrow morning.
AAPL/NYX/ICE:
These are the 3 stocks i trade mostly.
AAPL and NYX has broken their short term uptrend and are headed lower.
ICE is the only one that has not broken its short term uptrend. We will know when that happens (i.e. It will be a brutal drop of nearly 10 points or more on the day it happens no doubt.) Will the stock go for 200 first or was 158 the harbinger of the slaughter that is very soon to come? We'll see.
You folks do not need to be in cash by the close of every day. I am no strict daytrader, and i wouldn't wanna be one. When a trend is established, you can go with the trend and hold some of your position(s) for a few days, whether it be short or long.
I got some shorts in AAPL (added more at 84 and 85) & NYX, and now looking for ICE to crack before i "pick" that iceman to death.
Beanie, I like your recommendation or EXEL, but yesterday candle looked very negative. do you think its short today if it starts to move down or gaps down at open. It seems very close to being over bought on a daily chart.
gosu not all mkts are negative, infact you have more positive then negative mkts. its a mixed bag out there today, who knows the F'ed up weather might just kill the mkt again today. i'm working from home today cause we expect 6-8 inches of snow here in columbus. WooHoo for once i'll be able to see some daily charts.
I think we will get some short covering rally, atleast till lunch.
Any CHARGERS fans here, what the heck just happened to their team. they lost one playoff game and all the coaches left. wow, next season is going to be interesting, we'll get a good idea of what LT is made of.
Alok,
I would buy EXEL after earnings, and not before.
NADQ earnings are sending the exchanges higher in premarket. They beat by a mile but only because of a one-time gain from a 30% exposure (stock investment) to the London Stock Exchange. Without that gain, they would have made 1/2 the amount of stated profits.
I think the shorts will take this opportunity to reload.
C'mon man, ICE gapping $3 for that? Short it! 146
Don't ya think the big boys would have bidded NDAQ up a few dollars if they were that impressed? There is no volume!
AAPL is a freakin short!
85.25
Cramer pumping NYX this morning
what would be a good short level for ICE beanie, it rallying right now.
hey ALOK, hate to tell ya, but i,m a big pats fan. MARTYBALL,MAN.
pats didnt deserve to win that game. i believe very strongly that marty or poor coaching was the ONLY reason why the chargers lost that game. i like the decision that marty goes, but man all the other coaches gone too... this is sad. had everyone else stayed chargers could have been favorites next season, now its all up in air. what a stupid owner and gm, why couldnt they make this decision earlier, if they loose it should all be on thier head. they dont deserver a player of LT's caliber.
sorry, SKI ,the big pats fan!
beanie do you think ice has peaked at 146.5?
I agree with ya good buddy, LT sweep right, LT sweep left, chargers win hands down. they went away from that for some reason.
because of stupid marty. even before the game was over he was telling his team that they were kicking their ass, almost made them over confident. as a result, 2 personal fouls .. 30 free yards to the pats. tom brady doesnt leave gifts like that :), but i'm a big colts fan, love manning and his ethics.
alok,
ICE a good short near 146. I plan to add more on any rise
NDAQ already lost it
NDAQ going to 29
LMFAO!
spot on beanie, your spot on, looks like ICE has huge resistance at 146.xx right now.
cramer pumped NOV last night. have it in my IRA account. might be time to sell! up a quick buck and a quarter on cramer pumop! SKI
goodbye gains for ICE short...hello equity under 25! :)
-markrat
oh my beanie we are not doing good on ICE shorts today, the mkt has caused a pull back today.
GM Beanie, great blog site. Looks like covering for ICE. I'd like to get into some options but they are way overpriced...
hahaha Mark i hear you. man we are fighting the mkt today by going short, i dont know if thats a good idea. almost everything i'm looking at is green today. lets see how long that lasts.
Beanie,
please elaborate on your EXEL pick yesterday.
Thanks.
possibly time to cover ICE?
dumbest thing i did yesterday was dump 1,000 ONXX...it's up again today! shoot me!!
-markrat
AAPL- cracking as we speak?
ICE seems to be stalling now. i hope it doesnt break 147.5. don't know how high it will go if it does that.
ICE: short it!
Don't be so quick into covering anything. You're supposed to keep on shorting on all rises.
The rise in the exchange stocks were the result of the morning Cramer pump!
DIE NDAQ DIE!!!
well i'm glad to see ice coming down again. please go back to 143 :) and then all the way down to 137
gosu, why did't we short IBN, damn its down anothre 8% today. instead i choose SAY
NDAQ:
lol... Tell me this isn't gonna eventually take all the exchanges down, i'll send ya a cheeseburger
gosu dont take beanie up on that, he still hasn't given me mine :)
ICE is on fire today....
ughhh
-markrat
AAPL: Looks like a short again .
85
Motley Fools pump
Alok, IBN, I thought is a very strong stock. It is the premier bank in India.
DAMN!!!
gosu, IBN is an excellent long term play. but in the short term there are interest rate and inflation worries that are causing a correction in the Indian mkt. last night it was up 100 points at the start and then it closed down a 100 points. i feel after this correction it will start going up again. just a matter of time. budget is in march, so probably madness will end soon.
ICE ripped me a new one
ICE is on fire baby!
i`m losing my A$$ on ICE!!!
when should we cover???
Anyone who hasn't covered by now is crazy! This baby is going through 150!
I am slowly buying a little bit of March ICE 150 puts at a time as it goes higher. I sure hope i don't get my hole ripped! lol
I am doing this is because i believe a correction is coming as soon as tomorrow (and that is the only reason i would do this).
ICE:
This stock should be running out of steam very soon.
This is it, folks...
i dont know beanie ICE has been kicking my butt all morning. i hope it breaks 147.5 soon, i'll be more convinced of a weakness after that. although i do agree with you on that the rest of the week will be down so i'm holding on to my shorts.
Really pissed i sold OPBL.OB at 6.99
elmyko1
ICE ripped me a huge one.... down over $700.... "thanks" beanie!!
hey beanie.. any comments on gold stocks? such as AUY or AEM? thanks
Beanie...keep averaging up in ICE?? Cover? Whats the word?
ICE going to 200! buy with full margin!!!!
-markrat
You guys are crazy to be shorting ICE before it violates the primary trendline. I'm not long it but I'm considering it, it's looking strong today. Hell, the whole market is looking strong. Gosu...how's that big short working out? lol
Everybody's waitin for Ben Benanke to speak tomorrow. So we can't really look too much into the action of today.
We'll see what happens tomorrow.
I plan to hold my ICE shorts. Not a huge put position but a short nevertheless.
There's just too much risk to be long ICE is my opinion.
beanie,
no risk...i saw your post on the yahoo board, you said to buy with full margin.... ;)
-markrat
You gotta save some ammunition to short ICE if and when it does crater.
i think we've seen the high in ICE for the day, this is the first time its trading lower highs for the day. what do you guys think
markrat,
Do not listen to me on Yahoo message boards!!! I told ya already awhile back!!
I was BEING SARCASTIC on the yahoo board today!!!
at what price do you bail on your ice shorts beanie?
It is my belief that big boys do peruse the message boards to gauge trader sentiments, and they do the opposite.
Hey man, Jim Cramer visits yahoo message boards, so i believe that what i'm saying holds some water.
I said ICE to $5000 just to show how positive investors were. lol
pat,
It depends. Once the correction starts, ask me again.
thanks beanie, i will. i do enjoy the commentary here...
ICE is a great short here 149
oh man, NDAQ got ripped to shreds today! lol
guys, check out COINU! a brand new low floater like EFUT. you heard it here first!!
mark say something
markrat,
You know i would never tell anyone here to go in a stock like ICE, or any stock for that matter, with full margin. And ICE to $5000? C'mon, you got to know i wasn't serious.
beanie,
i was being sarcastic too....i know not to listen to you on yahoo....BUT if you want to talk about a contrarian indicator, there's way too much talk about shorting ICE.....people were saying to short that thing when it was 130 i am sure......
-markrat
i know, so i try to balance it out with ICE to $5000? lol
Thanks, Anon!
COINU is just what the trader asked for.
LOW Float wonders these days attract the momo crowd.
Forget fundies!!!
Just took on a position near IPO pricing for fun.
ICE: i believe this stock has topped out and will very soon get its arse slammed hard. Tomorrow?
thanks beanie thats exactly what i want to hear, drive it down below 146 ... come on guys short it some more :)
beanie... would you wait for a pullback in CRM before pulling trigger? (up almost 3%). SKI
hey ALOK...still holding your ICE shorts? SKI
Who on heaven's earth is buying ICE right here? Are they serious? C'mon man. lol
anon,
I don't usually trade CRM. I've called this the next Oracle and i really want everyone of you to buy 100 shares and hold it for at least 5 years.
CRM will only pull back if we get a market correction; else, it'll keep on chugging along and up.
yes sir very strongly, i think it will fall soon. i dont day trade, i'm a swing trader. today i think it double topped at 150 and since then its slowly but surely heading lower. tomorrow will tell. if we break 150 i'll have to reassess my position.
NOV... blasting through 70.00, some CRAMER pumps are succesful thoug nervous for next cupla dayz! SKI
if ICE goes below 148.5 in the next say 30 mins that will proove that a reversal is taking place, just my feeling on this. beanie please give me your thoughts on this, specific numbers would be great if you can give them.
beanie i meant share them, i'm sure you can give them, but it would be nice if you can share them.
ICE 2 buks off it's high. AAPL going lower. -SKI
woohoo, ICE is going down, now lets hope it doesn't climb back over 148.5 i think the next stalling point will be 147.7 or .75 i cant see clearly. n e one else willing to take a shot?
CORRECTION COMING BABY!!!
Anyone else think NUAN can be shorted here?
pm please specify what you mean by correction coming, correction in what and why are you saying it.
Great call Gosu.
Which one buddy?
Hopefully I am in that great call:-)
anyone HELP, I am short on SAY - should i hold till tomorrow or cover today?
Hey guys, still time to get short ICE or has all the big money been made already? LOL
ALOK- 3/4 of all stocks trading above MA.
hey anon... w'ell see tomoroww huh?
I covered my SAY. I usually do not carry the ADR position overnight.
Even though I think it is headed lower.
wat is MA?
Moving average
http://www2.barchart.com/momentum.asp
Beanie, is NUAN a good short here?
Is it just my thinking or The volume is really really low?
they are going to talk about WWE on fast money tonight it might be good for a little pop
GOSU... I was thinking the same thing, volume looking low today.
Going lower tomorrow folks? Opionions anyone?
I am all cash heading into the close
Holy shyte! ICE taking out highs for the day?? Who's buying this thing???
ICE make me say ouch
I think Nasdaq has good support at 2450.
There has to be a move on high volume in one direction.
But,
1) The deals and M&A activity is drying up.
2) Interest rates are only headed up from here.
3) 76% of stocks are above their 200 day Moving Average.
4) It is the longest stretch since 1954, that Dow hasn't gone donw 2%.
There has to be a high volume move. It just remains to be seen which way.
ICE up 7 smacker today... BEANIE, what are your thoughts please...
Jeez what a day....I don't know whether to hold ICE or take the loss and cover. I hate to take a 2 grand loss on this thing but what if it keeps moving up tomorrow?
shorting ICE, what a disaster!! i'm putting a stop at 151. can't take the pain no more!
Anon,
ICE is now at 151.14!
LOLOLOLOL!!
gotta love watching shorts burn.
holy cow, are we ICE shorties feelin the heat! lol
We'll see what happens tomorrow.
See ya...
BURN!!!! SHORTIES!!! BURN!!!!!!! lol
If I was skiing that ICE would be a black diamond
Reading this blog today was like watching a train wreck in slow motion.
Anon, i agree with you and the train picked up speed in the last 30 mins.
i'm depressed now, i need to watch some cartoons and get some entertainment. c ya guys tomorrow.
gosu and pm very very low vol today, now i'm very confused.
As I said,
I think Nasdaq has good support at 2450.
There has to be a move on high volume in one direction.
But,
1) The deals and M&A activity is drying up.
2) Interest rates are only headed up from here.
3) 76% of stocks are above their 200 day Moving Average.
4) It is the longest stretch since 1954, that Dow hasn't gone down 2%.
There has to be a high volume move. It just remains to be seen which way.
Hey Gosu! Thanks for the input. You also said, "I am going short big time tomorrow morning.". Are those shorts still on or did you cover? Do you recommend shorting tomorrow morning? Thanks!
I will go short based on two things:
1) International markets
2) the volume and momentum after Ben speaks.
Ben speak may be what market is waiting for to buy or sell on heavy volume.
What we are looking for movement on heavy volume. I am a little tired of low volume days.
hey beanie,
mind shooting me an email?
thanks,
marktherat@gmail.com
Thanks for the reply Gosu though you really didn't answer my question. Still, I appreciate you taking the time to comment. I guess I'll just infer that you are still short from this morning. Maybe you were just early.
Short from this morning?????
Are you crazy :-)
This morning at 7 AM, Dow futures were up 32.
I never fight the market.
lol, gosu do you not remember writing those words last night?? It's up towards the top of this topic actually. You said you were going to short big time in the morning (this a.m.). I guess you came to your senses but you never posted otherwise. Anyways, nice talking and good luck on your trades.
Yes sir, I did and in in time.
The statement was made on Monday at 11 pm.
When I woke up, there was 8 hours of trading done all over the world.
You know about the CME's GLOBEX system - It trades S&P futures all through the night.
I cannot afford to ignore what the futures are telling me.
GOSU... could you please post the name of the website that shows S+P futures? many thx.
http://www.cme.com
thank you good buddy.
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