How 'bout that stock market?
- Thread starter Ski_Banker
- Start date
I had a stop loss execute on FXI at $89-- SOB.
OBCHX still doing just fine though.
OUCH
I still can't get over my 5k shares of apple that I sold WAY too soon.
Anyone else feeling an impending implosion growing closer here? I think we've seen the end... give us a disappointing earnings report from any of our tech or momo stocks and were done. Double top held perfectly in the ES, indicators are rolling, bearish indicators are running rampid through the charts.
Keep in mind people earnings estimates for the S&P's have gone from 8% to NOTHING in the past two weeks.
I know not many agree with me, but its just my opinion and analysis... the fed smoke and mirrors are starting to clear, people are realizing the lack of logic behind the last rally, and just give us a catalyst like Google missing on earnings and its over.
I think we'll grind lower for a bit here, but expect some big down moves within a couple weeks.
Cheers!
Keep in mind people earnings estimates for the S&P's have gone from 8% to NOTHING in the past two weeks.
I know not many agree with me, but its just my opinion and analysis... the fed smoke and mirrors are starting to clear, people are realizing the lack of logic behind the last rally, and just give us a catalyst like Google missing on earnings and its over.
I think we'll grind lower for a bit here, but expect some big down moves within a couple weeks.
Cheers!
I don't really predict anything short term, I just have strategies based on what data is unveiled. For the record, after dissecting all the banking data released this week, I've increased my short % three fold. Between yesterday and today several stocks I've been short on broke through their lower resistance, KBH, CFC, etc.
I'm ready for whatever comes. PTR gave me enough gains to last me a while on the long side. It's been a long time since I've seen a fairly "expensive" stock price per stock wise move that much that fast. 30% in a few days at one point.
I'm ready for whatever comes. PTR gave me enough gains to last me a while on the long side. It's been a long time since I've seen a fairly "expensive" stock price per stock wise move that much that fast. 30% in a few days at one point.
Lets hear your opinion of BCSI. Look at a 6 month chart.
I took a look at the chart. I'm not much of a chartist, but it is a tool I use towards the end of my analysis for entry/exit points and general knowledge on how the stock trades. Others here are probably more efficient at it though.
It looks like some sort of news came out afterhours on the 21st of August. It's been relatively flat since then so I'd need to get more data/news on the company before I made any really "good" opinion. At the very least see if it was caused by insider, public, or institutional buying. The volume is definetely up even though the stock has been flat for what looks like about a week.
On the 5day the 10/20MA's just went under any long term MA, i.e. 100, at 3:10-3:15 yesterday depending on how you look at it. It was upward gapping and making momentum earlier in the week. There isn't enough evidence for me to make any good predictions. I can say that there will most likely be some movement in the stock tomorrow. If you have been long the stock for a while I'd be looking for the door at $42 unless you know something the market doesn't. It looks like it has a semi-fragile floor around that figure.
I'm actually a fairly hardcore top down investor. I spend most of my time analyzing macro trends. Lately it's been data on the international credit/major banks, which led me to expand on short positions from some specific lenders/housing plays to a few larger banks on Tuesday. I was fortunate but not surprised to see that pay off today.
Most of my trends lead me to trade oil service companies NOV, SLB, etc., gold ETF's/companies ABX, BVN, etc., and international ETF's/stocks PTR, FXI, some Hang Seng plays, and lastly currency related plays.
As you can see, I have limited insight on BCSI specifically because of its sector. I'm long some tech with international exposure but they are long term. I did own large amounts of AAPL and RIMM previously but took my gains and put it to use elsewhere about 2 weeks or so ago.
Maybe that helped a little.
It looks like some sort of news came out afterhours on the 21st of August. It's been relatively flat since then so I'd need to get more data/news on the company before I made any really "good" opinion. At the very least see if it was caused by insider, public, or institutional buying. The volume is definetely up even though the stock has been flat for what looks like about a week.
On the 5day the 10/20MA's just went under any long term MA, i.e. 100, at 3:10-3:15 yesterday depending on how you look at it. It was upward gapping and making momentum earlier in the week. There isn't enough evidence for me to make any good predictions. I can say that there will most likely be some movement in the stock tomorrow. If you have been long the stock for a while I'd be looking for the door at $42 unless you know something the market doesn't. It looks like it has a semi-fragile floor around that figure.
I'm actually a fairly hardcore top down investor. I spend most of my time analyzing macro trends. Lately it's been data on the international credit/major banks, which led me to expand on short positions from some specific lenders/housing plays to a few larger banks on Tuesday. I was fortunate but not surprised to see that pay off today.
Most of my trends lead me to trade oil service companies NOV, SLB, etc., gold ETF's/companies ABX, BVN, etc., and international ETF's/stocks PTR, FXI, some Hang Seng plays, and lastly currency related plays.
As you can see, I have limited insight on BCSI specifically because of its sector. I'm long some tech with international exposure but they are long term. I did own large amounts of AAPL and RIMM previously but took my gains and put it to use elsewhere about 2 weeks or so ago.
Maybe that helped a little.
Don't be a perma bear, go with the flow. As I always say who cares where it goes as long as it moves. Past 8 trades have been both ways and all winners. May have my 1st 20point lost on my EUR short though lol oh wells.
I hate to say i told ya so... but.... lol. -270 on the dow heading into the final hour? I kid i kid. Maybe they will rebound 'em 800 points monday, who knows.
The nice part is I don't care what the market does one way or another, as long as it moves one way or another.
Cheers folks!
The nice part is I don't care what the market does one way or another, as long as it moves one way or another.
Cheers folks!
I was short the EUR, but I do long and short whenever a trade comes up, 9 winners in a row now this month lol 
I was short the EUR, but I do long and short whenever a trade comes up, 9 winners in a row now this month lol
Ryan - any reason why you trade forex, rather than a regulated market equivalent like the euro currency futures (@EC)? Seems to be a much smoother flowing tape and spread, not to mention higher per tick payouts (10 bucks vs. 8, or 12.50 vs. 10 depending on the pair).
I like the price action of it and so far it's the market I like best. I do the EUR, GBP, and YEN. Most of the time the EUR and GBP go smooth, YEN goes apeshit sometimes lol :biggrin:
Any recommendations for good day trading resources? Stock picks, etc?
I've been doing very limited day trading so as to avoid being flagged as a day trader (3 daytrades per week max) and just playing around with $1K for each trade. I have 10 free trades per month, so even if I only make a few cents per share, there's profit as long as I don't exceed 10 trades.
Any free realtime tickers out there? I see google may be offering that soon, my brokerage's idea of a ticker is hitting the refresh button.
I've been doing very limited day trading so as to avoid being flagged as a day trader (3 daytrades per week max) and just playing around with $1K for each trade. I have 10 free trades per month, so even if I only make a few cents per share, there's profit as long as I don't exceed 10 trades.
Any free realtime tickers out there? I see google may be offering that soon, my brokerage's idea of a ticker is hitting the refresh button.
Whose your broker? Kind of sounds like your with TD Ameritrade, if thats the case they offer strategy desk which is a real time data service and charting package for free.
zecco.com - completely free for up to 10 trades/month, but it's no frills. I'm not ready to spend money on a brokerage yet until I figure out how to make money. Like I said, I've never been any good at trading. I got lucky in the late 90s, but who didn't?
robr, I'm not really sure if there is such a thing as good stock picks or day trading recources. However, I read John Mauldin's work (couple times a week) as well as the Weldon money, metal, and ETF moniter. Those are all free recources that will automatically be sent to your email of choice, just google them and go from there. I've been reading them for years so I don't remember off hand how to join.
They are "boring" if you are looking for stock picks or fun reads though. They do summarize the most important data of the week to give you a clear picture [as possible] of what is actually going on in the world wide market place.
Watching Jim Cramar can be a big help as well although I don't suggest you should mindlessly take his stock picks and run with them [neither would he].
I'm also with zecco but since I have an older account I still get 30 free trades which is nice. I've used more expensive brokers and don't see any differences that can make me $. Gold was my conservative fed play.
XOM is temping.Where you short
Thanks, I'll check them out tomorrow. I think Zecco previously offered 40 free trades per month, but even if you're grandfathered, that ends Jan 1st unfortunately.
Not to get off the stock trading topic, but anyone have an opinion on
Emerging Markets funds? Have picked up about 40% over the past 6 months with VEIEX. How long can this go on? :biggrin:
Tips on sector funds in general? Whats next?
Emerging Markets funds? Have picked up about 40% over the past 6 months with VEIEX. How long can this go on? :biggrin:
Tips on sector funds in general? Whats next?
I use emerging market ETF's. GXC, FXI, just about anything dominating any sector in China [companies Baidu, petrochina, chl, etc.] has doubled or tripled in share price in the last year. I also have funds in the Hang Seng although that index has grown so quickly I only have 20% of my original holdings left. The growth in china is still very real, but determining if the associated stock market growth is proportional is very difficult. Most people have said to run as fast as you can away from everything china for the last 150% of my gains.
I have significantly lowered my holdings as the inevitable slowing of the U.S.'s economy's effects on the rest of the developing world will not be positive IMO. Yesterday's news was particularly negative and today's averages confirm that loud and clear.
I'm still bullish China long term but don't plan on rebuilding my positions until something gives. I also like vietnam.
Bottom line, there is still* great potential in the emerging markets but without taking in to account the slow of the U.S. economy I'm not putting more funds in equities that haven't adjusted for it yet.
I am still long BIDU and CHL with about 20-33% of my original position intact.
I love how the USD/EUR is back to 1995's. If anyone is looking at going overseas pack some extra cash. I have been shorting the US$ against everything and making good money the past few months. Also a oil short / bank short play may be a good thing. I don’t do stocks though only currencies.
Yep, for example I was out of CFC [short side] when it broke through the 12's and a bunch of suckers pumped it back up to 16 and I got right back on that horse and it's already near 14 flat. PMI made me some decent change in that area as well.
Tons of money to be made in the currency market, it's going nuts. I track the major currencies as part of my technical analysis for gold and it's been wild since the YEN broke through the 118 resistance. I think the dollar is oversold short term though. There is no logical reason it should be so weak against the EURO, they aren't in that great of shape either people just don't know it yet. Well let me rephrase that, some* people don't know that yet.
Tons of money to be made in the currency market, it's going nuts. I track the major currencies as part of my technical analysis for gold and it's been wild since the YEN broke through the 118 resistance. I think the dollar is oversold short term though. There is no logical reason it should be so weak against the EURO, they aren't in that great of shape either people just don't know it yet. Well let me rephrase that, some* people don't know that yet.
+1 on BIDU. That stock is amazing. Can't go wrong with Apple either.
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