How 'bout that stock market?

[steveny]

Heres a cool little site i've been using for awhile... you can search various stocks via chart patterns, etc... but more importantly... you can pull up any stock chart and they already have all the major technical charting stuff on the chart for you... so you can see the setups that the pros are looking at...

http://finviz.com/screener.ashx?v=211&ta=0&p=d&r=1

The signal "drop down" menu has all of the classic TA's in there... great for screening or if you've got a position in something, checking the stock to see if there is any TA drawn on their charts.

Take a look at bidu... its essentially the chart I posted...

If you pull up a ticker... you'll have to click "change to daily technical chart" to get the trendlines drawn in.

I just have to say, you are really pretty damn good at charting. Kudo's to you.

 

[steveny]

Scottrade has finally open up options first. I have been approved and set up a level 5 account. Yippie.

sold some naked puts yesterday almost near the bottom ogf the dip.

 

[sahtt]

Well the party has hit a new stage. FNM and FRE have finally fallen to their knees. The market will celebrate, then it will panic when everything doesn't turn out to be the Cinderella story they were hoping for. Get your shorts ready boys, after this rally fizzles [there will be one, maybe a 3-500 one], there will be some great opportunities. The liability against american tax payers just doubled the national deficit on a single sunday afternoon. Making history isn't usually a pleasant experience in the financial markets.

 

[steveny]

http://www.bloomberg.com/markets/stocks/futures.html

dow futures up 266

 

[steveny]

Come to daddy!!!!

 

[steveny]

up six figures in realized gain today

 

[da3dalus]

up six figures in realized gain today

Nice steve! So much volatility in everything today! I'm having an UBER frustrating day today... TradeStation had a data outage at the EXACT time i went to enter a trade... this was in a FX trade so I was blind, had to pass on my short in the EURUSD... and now look at it...

Textbook setup... I'm PISSED.

+80 pips gone... fineto... done... all because my data provider decided to take a dump on the exact time i was going to enter... I guess thats life... but this is painful to watch now!

 

[sahtt]

Get your shorts ready boys, after this rally fizzles [there will be one, maybe a 3-500 one], there will be some great opportunities.

And boom goes the dynamite..

 

[steveny]

Nice steve! So much volatility in everything today! I'm having an UBER frustrating day today... TradeStation had a data outage at the EXACT time i went to enter a trade... this was in a FX trade so I was blind, had to pass on my short in the EURUSD... and now look at it...

Textbook setup... I'm PISSED.

+80 pips gone... fineto... done... all because my data provider decided to take a dump on the exact time i was going to enter... I guess thats life... but this is painful to watch now!

Post a chart for AMR over the last 2 hours and tell me WTF happened besides the ULUL fake news. Also tell me why I couldn't buy my options back with a good order when AMR fell 3 bucks in one minute. I am pissed, lots of manipulation going on. Trade platforms are not working properly and it's not just one or two brokers. The market is artificially supported.

 

[da3dalus]

yea... i hear ya steve... if you're trading off of Level II you've gotta be seeing a crap load of manipulation in all of this.

it just pisses me off because its not so much manipulation its the fact that my 5 minute candlestick chart goes... 10:20, 10:25, 10:35...

wait a tick... I just want my 5 minute candle thats missing... thats all. :tongue:

 

[steveny]

+80 pips gone... fineto... done... all because my data provider decided to take a dump on the exact time i was going to enter... I guess thats life... but this is painful to watch now!

No it's not life it's happening to everybody. Every single person I talk to has been screwed out of great trades today. I smell a rat!!!!!!!!!!!!!!!!!!!!!!!!

Probably cost me another 100K today in trades that I could not do because of the platform not working. Next time I will enter orders on SUNDAY GTC. ASSHOLES. Man I am pissed right now.

 

[sahtt]

No it's not life it's happening to everybody. Every single person I talk to has been screwed out of great trades today. I smell a rat!!!!!!!!!!!!!!!!!!!!!!!!

Probably cost me another 100K today in trades that I could not do because of the platform not working. Next time I will enter orders on SUNDAY GTC. ASSHOLES. Man I am pissed right now.

Several guys around me on the trading floor got wrecked too, and we have the best of the best in information, execution, and pricing.

I don't mess with that kind of news. Got a nice bounce off AAPL at 151.

 

[steveny]

Several guys around me on the trading floor got wrecked too, and we have the best of the best in information, execution, and pricing.

I don't mess with that kind of news. Got a nice bounce off AAPL at 151.

Did you dump your SKF or are you holding on to it? I bought at 106.50

 

[sahtt]

Did you dump your SKF or are you holding on to it? I bought at 106.50

I was going to but it gapped down so much I just couldn't let it go @ 95. I knew if this was under normal circumstances I would have been buying it hand over fist at these levels. So I held on to it and immediately sold GS within an hour of the opening.

Funny thing was my basis was 106 before it got ran over today and that's exactly where it ended up today for the most part. I knew that rally was a complete joke. By far the more intriguing stock today was AAPL. I'm still wondering what the hell do FNM and FRE even represent??

 

[steveny]

I was going to but it gapped down so much I just couldn't let it go @ 95. I knew if this was under normal circumstances I would have been buying it hand over fist at these levels. So I held on to it and immediately sold GS within an hour of the opening.

Funny thing was my basis was 106 before it got ran over today and that's exactly where it ended up today for the most part. I knew that rally was a complete joke. By far the more intriguing stock today was AAPL. I'm still wondering what the hell do FNM and FRE even represent??

The biggest problem I see with Fannie and Freddie is the fact it's such a big part of so many core holdings.

The rally was more than a joke.... it was orchestrated.

 

[steveny]

I called that one wrong. I bought near the close a bunch of RIMM and was hoping to sell it on a pop this morning. When it started to pull back I sold the RIMM and kept the SKF. I should have done the exact opposite. :frown:

 

[sahtt]

LEH, 30% one trade, some got near 40%.

 

[steveny]

LEH, 30% one trade, some got near 40%.

Yeah it looks like the end for them. I just sold naked calls, sept 13's.

Also sold naked puts on FCX at the 65 strike.

Scottrade finally got my level 5 set up.

 

[SilverStone05]

LEH.....ouch.

 

[sahtt]

Be watching carefully for if money starts to flow out of the financials like it did last year. Most of these stocks are still relatively high. If money starts flowing out, down with the dollar, up with commodities once again. If anything else you want to make sure you aren't on the wrong* side, even if you aren't trying to play it. I say this because of the combination of increased turmoil [getting close to BSC type stuff with FNM failing and LEH getting cut in half in the same week] and the horrendous losses of the energy etc. sector. A handful of stocks I've watched have had their P/E's cut in half in 2 months, serious P/E contraction that won't go on as long as they still make their $$.

 

[steveny]

Just put on a spread trade on Rimm sold the 100 puts bought the 90's. Go up Rimm.

 

[chado]

What do you guys think.. take profits on BAC and WFC? Is the run done for a while..is it back down to < 20.00 ?

 

[SilverStone05]

What do you guys think.. take profits on BAC and WFC? Is the run done for a while..is it back down to < 20.00 ?

Hell no. Hold on to em. The financial high fliers won't fall much more if any. BAC is paying you 2.50 a share to hold. WFC about a 1.40. Free money. :biggrin:

 

[chado]

Hell no. Hold on to em. The financial high fliers won't fall much more if any. BAC is paying you 2.50 a share to hold. WFC about a 1.40. Free money. :biggrin:

Ahh so true. Thanks for the reminder... :smile:

 

[sahtt]

Heavier volatility then usual today, interesting market.

Bast trade of the day was more luck then skill. My screeners were screaming DNA at me and I caught the bottom by a nickel on that dollar move to the downside around 12:30 eastern if I remember correctly. Held it to the close, $1600 per 1k shares. Had a few decent moves with the airlines before oil stabalized, that's about it.