INTC selling off on comments by CEO at the CES.
INTC/SLW on the watchlist newSubmitted by 2nd_ave (5133 comments) on Thu, 01/06/2011 - 09:45 #77265 Missed the sell-off in SLW on Wednesday due to all-day meetings at work. In retrospect, I think shorting SLW on a drop below 36 (I didn't have the guts) would have worked. INTC selling off on comments by Ballmer at the CES.
I wanna thank you all for scaring me out of STVI...you bastards! Seriously, though, the company is on a $15 Million rev run rate. I say it trades up to $5/share.
TOF- Anytime my friend. Just wait until we all start talking about the wedding.
At least we didn't scare you out of STVI and into SLW.
I have no handle on this market.
UNG covered @ 6.09.
Short UNG @ 6.22.
No complaints dept.CAVM up 12% after PTHDY up 8% after PTXL doing it's thing up 5%FTK so far so good, flatsville today.CHSCP LT hold. up 25% pays 8% div at that price.SLV coughing, no throwing up yet.UEC has a limp, small positionSIRI pulled back some, flat.FREE! Chart show in 25 mins. Be there or be square.Do the DEW or drink coffee....Landry will be cranked up. I predict at least one "BAM" describing CAVM.
Metals are still getting whacked. They're always first in the parade, so maybe there's more downside heading for the market?I'm not betting on it, got a feeling this is temporary.I wanna buy AGQ, or add to GMO...
CAVM - "Cavium and ARM Strengthen Partnership to Develop Next Generation Multi-Core SoCs for Consumer and Broadband Networking Applications Business Wire"
BTW.....Dollar rallying, market up.Look for that opposing relationship to change.
GDX is at a critical area here.
1/2 off Bidu from Monday 105.62 Stop to B/E on remainder. I had stvi cued up but didn't pull the trigger yesterday. Got distracted at work instead of chicken. Will watch for a decent entry. Are you in the stock TOF.Bob
"I have no handle on this market. "2nd - It's going to 2,854. That's what Birinyi said.
Bob - I was in STVI at $1.63 and sold out between $1.93 and $2.05ish I think.
GMO broke R2 daily. 6.09 important.
TOF Is this bounce news related on take over rumors or is it that everyone wants to be a PIMP. Bob
RoBear - which stock?I bought SPY $130 Jan puts at $2.98 average this morning, as well as TYP at 22.38. Sold out of my longs except RAS.
C off @ 5.00. SSO off @ 49.21.
At the close...
Looks like I bought some GMO, guess I'll have to average down from here now...
Putting a stop loss limit on 1/2 of my RAS shares at $2.27 in case it drops. I'll be busy today and tomorrow so if it falls to this price I will assure myself that I will still have gains because my buy in price was $2.21 avg.
Sorry TOF I meant STVI. Dating site= PIMP. Probably a generationl difference in meaning for that word or I'm not as funny as i think I am.I liquidated all position but BIDU. joining 2nd on the bench here.
A⌠S ds ->?
GMO - added @ $6.05
Watching VXX. I really like the chart and volume pattern since early November. Will keep an eye on it towards the close. VIX Feb. and March futures are 21 and 23 respectively. Still a pretty big spread between them and where VIX currently sits at 17.50.
TOF- No worries. The market is constantly presenting new opportunities. Just remember that you've had a great week. Are you still in REDF? Its making yet another move- getting close to its old highs. A thing of beauty.
jesse - i sold out of my REDF when the company announced that shady deal with the CEO's side business. I know the technicals look great but I can't go to sleep at night with a position in a company that I don't trust. I made a ton it the stock so I'm happy and have moved on. Right now I'm only long RAS, looking to buy a little ACMR, long SPY puts and long TYP. Basically I'm looking for a pullback short term. I expect we could get a doozy of a pullback in terms of quickness. I think we could see 5% in 3 days, then its onward and upward to 2,854...at least that is what Laszlo Birinyi tells me.
Jeez...crude oil is down over 4% in 3 days...this is what I'm saying about the markets...I think they will drop really quickly and sharply just to clear out the excessive bullishness. Then it's onward and upward.
My guess is there's little chance we trade down heading into the jobs #. But after...."Economists polled by MarketWatch are now expecting 175,000 nonfarm jobs created in December, up from 143,000 just a few days ago. The “whisper number” among traders on Wall Street is somewhere north of a 200,000 gain in jobs in December."Per Sentimentrader blog today: When $SPY closed January Payroll report week with a gain, here are next 2 week returns: -1.3%, -3.1%, -3.8%, -8.5%, +3.1%, -1.6%, -4.2%.$$Not sure why there are only 7 data points there. Certainly, there were more than 7 up weeks?
TOF - We're going deep sea fishing off the coast Saturday, wanna hang out on the boat with us and drink a few beers???
Okay, so North Korea has offered to kiss and make up with South Korea, and the market doesn't seem to take note?
So do we all believe the US debt limit will ultimately be increased, placing additional downside pressure on the U$D?
The market has not taken note of North Korea at all this time around. When the altercations started a month or so ago, the market didn't budge one way or the other. North Korea is a non-entity to the market. Of course, if the market were in a free-fall at the time, the media would have blamed North Korea for it. It will be interesting to see what the "reason" is for the next market correction.
"Copper Falls in New York on Speculation U.S. Growth May Benefit Equities (Claudia Carpenter, Bloomberg News, 01/06/2011, 5:55 AM PT)"
PKX - Anybody think this one might exceed $130 by mid-year?
Coach pulled me off the bench.Short SWC 20.40.
Come on 2800, let's get this over with so we can all go out and spend some of it!
PIMP- No, that WAS funny :)
http://www.washingtonpost.com/wp-dyn/content/article/2011/01/06/AR2011010603244.htmlThis is hilarious...we must raise the debt limit so we can increase our debt so we don't default on our debt. WTF.
I guess our dour mood had a negative effect on Europe?
CB- You going to bite on RBY here?
Reginol banks are all over the top % gainers list. Does anyone know the catalyst?
Oh crap! Look at that spelling.
Mark, all women need maintenance you know, some more than others.Have you been giving her the regular "up-down", that should help make her feel good about herself...
I can't find the regionol banks litsing...
CP- Up-down? Is that the horizontal hokie pokie?
CVBK MBR IBCP BTC are all on FinVIZ top gainer section.http://www.finviz.com/
Their still puking up shares of SLW.
Imbalances...BUY- X/AASELL- C/BAC/MS/WFC/JPM.I'll try and get some GMO.
The Wizard was talking about this new client who he made 14,000 (to $362,558.00) on his first day. I would like to be a spider in the web to see how this was managed in terms of risk. 12/27/2010 1/6/2011 GDXJ 2000 37.89 $75,780.00 36.14 $72,280.00 GDX 1000 59.48 $59,480.00 56.65 $56,650.00 RBY 8000 5.37 $42,960.00 5.21 $41,680.00 UXG 8000 7.31 $58,480.00 6.99 $55,920.00 KGC 2000 18.39 $36,780.00 17.45 $34,900.00 SLW 2000 36.52 $73,040.00 34.27 $68,540.00 CEF 103 19.79 $2,038.37 19.4 $1,998.20 $348,558.37 $331,968.20 t3d
I was busy running some work-related simulations last night and also this morning, so at this point I just had the time to read yesterday's discussion. I must say that I am very impressed by Mark's knowledge of differential calculus, and even more impressed by the speed at which he can type his knowledge. :))CP, a question for you: what is 2A doing in the expression "2A int(s ds)"?As for my market actions, I had a plan to sell February $21 calls against the 300 CSCO shares I picked up at $21.10, and I just sold those calls at $0.74, so that if these shares are called away from me, I'll make $200 profit on them, in addition to the $450 profit I made by selling 5 January $20 puts for $1 (I already closed those puts at ($0.11).
Good day here. Still long RAS and short UNG from 6.22. I might cover this one AH's.T3D- I was thinking the same thing the last few days. At the bar! Drinks on natty today :)
Yeah, the "up-down", where she catches you "checking her out". You could say something like "We've really got it together, don't we baby?" at the same time...
David - Sorry, that was a mistake, it was supposed to be A⌠S ds ->? Integration of A*"S" over the range "ds", where "A" is a linear variable.
Seemed pretty simple to me... but the "2" would destroy the meaning of the answer.
Whee! A full book of E tickets at Disneyland today.CAVM gave a little back off the high, but still gained 4% today. Fricking Hoody (HDY) up 14.58% today. I'm up 17% on my remaining half a position as it well exceeded my PT by .59 cents.Scary. Movin' those stops up!SLV more or less flat, a little motion sickness from spinning in the Teacups there. XL down a penny. SIRI down 19 cents, no worries as I already took 1/2 off with a nice profit.All in all a good day.I've paid for the Landry service many multiples now. It cost me about $100 a month and I booked 2612.50 in HDY and I'm up 4892.50 on the remaining shares. Nevermind FTK, CAVM, XL and SIRI. Even if we crashed tomorrow and I stopped out even I'm totally sold.
Good work today guys, including the shorties, good eye! ;)
"14,000 (to $362,558.00) on his first day."Must've been accomplished using leverage?
"We've really got it together, don't we baby?"I'm not sure how this line would be met here.Either a look of total disgust or full on hysterical laughter on her part and indignation on mine.
That's not the key to my chastity belt.
"We've really got it together, don't we baby?"Yep, it's one of those expressions you've got to fully commit to. A serious tone, facial expression, body language and all around confidence are imperative.
$14,000 using 348K? In one day?It might not be leverage, but who knows? It doesn't have to be, not by a long shot.And risk? We can't know.I don't have that much to trade with and I haven't been anywhere fully invested, but I've made $23086 since the middle of December and about $12,000 of it in the first six days of January with 2% risk. Of course some of those positions are still half exposed at 1% (all of them now actually) so it's always possible I give some back. I made $7405 in 3 days with 48K but at 2% risk.From the sound of it TOF may have made more.I don't know his risk profile.What I found humorous was Bill writing this AM: "The point I am making today is that finally the global economic and capital market situation has stabilized enough to where we need to lessen our focus on price momentum trading and begin to start looking (at) the corporations."So now he's preaching we don't trade price anymore? How does he speak out of both sides of his mouth without two mouths or two heads?T3D makes a good point. Is he still in those PM positions? He's been sounding like it lately and he was obviously pissed off a couple days ago, with his conspiracy theories again.All I know is I'm not changing a thing and I'm not listening to news, politics or conspiracy theories. That will make you crazy.
My wife knows me too well. 34 years is too long to try to BS her. Even if I were an academy award winner she could see through me like glass.Of course 34 years says something words can't.
"Of course 34 years says something words can't."Agreed. The underlying message is essentially identical though. Sometimes just clearing the air by putting things in perspective can help break the ice.
I was going to post that we should see a nice gap up tomorrow based on the job "whisper number". But now I'm seeing the "whisper number" all over the web. Sounds like its no longer a whisper. Somebody, somewhere is shouting the number. "Economists polled by MarketWatch are now expecting 175,000 nonfarm jobs created in December, up from 143,000 just a few days ago. The “whisper number” among traders on Wall Street is somewhere north of a 200,000 gain in jobs in December."
Employment - I'm not sure how they intend to spin this one. All I know is the bears have been trounced time and again but that's ancient history for all intensive purposes.Some may contend an improving employment picture is cause for the FED to begin applying the breaks?
BTW, I meant brakes. Yes, I know the difference, just don't want the Nazi's to gas me.
Hindenburg Omen-I just ran across this which expresses my view regarding the last Hindenburg Omen being dismissed by the media.From Minyanville.com on December 16th-"From historical data, the probability of a move greater than 5% to the downside within 40 days after a confirmed Hindenburg Omen was 77%. Of the previous 25 confirmed signals only two (8%) have failed to predict at least mild (2.0% to 4.9%) declines. If the market is going to rally into the first week of January, that could be the setup. But the tape is dangerous now with a second confirming Hindenburg Omen on Wednesday (the first new signal was issued on Tuesday).The Hindenburg Omens that arrived in August produced a lot of interest with the creator even being interviewed on CNBC. I suspect the current signal will get little if any play. That may be telling. No one will be listening to the Omen crying wolf this time around. There are few bears left in the woods as the market has climbed a Wonder Wall of Worry shrugging off potential issue after issue. I can’t help but wonder if we are arriving at critical mass.There are major square outs and bearish indicators currently that were not present at the time of the August Hindenburg Omen. Monthly momentum indicators are overbought. They were not in August. Advisory sentiment is at historic highs. Recently I showed charts regarding a cluster of Fibonacci turning points due the first week of January.It is possible to count five culminating waves up. The question we should be asking is whether a correction (should it arrive) will be a bullish pullback to walk off overbought sentiment and price action, or whether the current five-wave pattern completes the C leg of a bearish A B C pattern. If so, then the message of the tape is conspicuously bearish, indicating the potential for another crisis in 2011 accompanied by a pernicious decline.It is interesting that the Hindenburg Omen will likely be given short-shrift this time around, but it is worth considering that the Omen has occurred before all crashes or panics in the last 25 years."12/16/2010- Minyanville
I've stated a few times here that in light of a bearish stance, I've been hesitant due to the recent uptick in "smart money" sentiment. I emailed sentimentrader today and received this reply:"You're correct, the smart money usually trends down as the market trends up, likely because they are net long and the indicators reflecthedging activity. It's only when that measure becomes extreme that I become interested, and even then only in general terms. The dumbmoney measure is much better in terms of market-timing.Actually, this exact same thing happened in April. The smart money got down to 29% early in the month, then spiked to 38% mid-month,before the S&P topped out. It happened in May 2007 as well. I wouldn't say that it's a "sell signal" kind of thing, though it doesseem to be consistent that the smart money turns before the market does."
Covered UNG @ 5.98.BORN coming back into it's largest VWAP area.
Interesting. Thanks Jesse.
"David - Sorry, that was a mistake, it was supposed to be A⌠S ds ->? Integration of A*"S" over the range "ds", where "A" is a linear variable."Why do you need a linear variable "A" in there, CP? Just to confuse Mark? :) Mark is making a killing in UNG now -- he is fully in harmony with its moves for the past two days, so let's not distract him! :)
jessie - I think the point your conveying is it may be too late to assume new short positions.Please feel free to correct me if I'm misinterpreting.
Thank you David. I'm meditating on it right now...
Fine, but in order to understand why there's an A in there, someone's going to have to attempt to perform the integration.We can write the problem in another way if you prefer:(1/A^-1)⌠S ds ->?
Chickenpookie-The omen is valid for 40 days. Not sure if thats calendar days or trading days. In any case, we are right in the sweet spot. After the small cap euphoria that we've all participated in, I think there will be a ton of money to be made on the short side. Looking at a 30 year chart of AAPL, it looks like it has maxed out its upper channel and will re-test the 250 area. If that is the case, the Q's would be devastated since AAPL and the Q's are now interchangeable due to its weighting..... jmho
Since I seem to be resigned to scalping for a while, my thought for tomorrow would be to short a rally on a good jobs number. Probably $20-$40k worth.
To avoid potential for confusion, I'm using the "⌠" symbol to represent the integral of the function f(S)dsI don't know how better to explain it, perhaps another way to illustrate would be via substitution, for example:2*pi⌠r dr -> pi*r^2 (note in this case the 2 reappears coincidentally, just for the purpose of borrowing a familiar formula)
jesse - Understood loud and clear, thanks. QQQQ should probably just be labeled APPL. ;)
Okay, I've consulted my Magic 8 Ball.It says "cannot predict now".
Hooked up the $5.90 lure trolling for some GMO AH. No nibbles.My Magic 8 Ball says, "beer time".
You guys know what an 'eight ball' is, right?new post
Mine says "Take Appropriate Precautions"
I am looking at Ebay. Looks attractive fundamentally( mobile sales are growing) and technically (trading well below 50 day MA). Any opinions?