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Dip trade worked again though not much of a dip and didn't get many contracts on. Starting to lock in profits on the calls today.

http://www.calculatedriskblog.com/2009/09/report-treasury-to-announce-short-sale.html

Wish they would buy BAA, been sitting on this one for months.

:D

There are better safer longs in my opinion, but good luck with it if you decide to take the trade. Just be wary of any time the company schedules any news.

Risk of a blow off top to this move has increased as shorts have not capitulate but rather added to their positions using today's price improvement. Expect that shorts will defend their position afterhours which will give us another overnight dip trade to take advantage of. There is a slew...

Sure it can rally with the rest of the market but why not buy tech instead, you get the same benefit from the weakness in the USD but without the default risk that comes with most of these shippers and Drys in particular. I was in Drys earlier this year in the $3s but then I found out what a...

Translation: Darling/King, we have you by the short hairs, don't even think of pulling back now.

I agree completely, the biggest risk to the rally right now is dollar strength and it could manifest quickly as so many are short the USD. However no sign of it yet and with the current administration's spendthrift policies I don't see the catalyst for USD strength other than flight to safety...

No, just pull up a 5 min chart of the Es and the EUR and you will see what I mean. If the EUR is showing strength and you get a good buy set up on the ES odds are in your favor, when the EUR stalls take profits. For example when EUR bounced off today's pivot that was a green light to buy the...

They can't, here's why: http://www.minyanville.com/articles/fed-bernanke-deflation-inflation-reflation-printing-money-printing-currency-velocity/index/a/24469

As I said, there is a good reason the shippers have been laggards in this rally.

The morning rally in the EUR stalled out close to Fridays high and pivot and reversed and that took the bid out from under equity futures.

If I were still long for a trade would be taking profits now as we lost the dollar weakness.

1:40 AM am looking at the the USD that is what this strength in equities is all about, follows dollar weakness as we saw again this AM Dollar dropped then ES popped. NQ was a gift just now retraced all the way back to 72.50 dollar stayed weak and ES strong.

Overnight dip trade worked again like a charm out +5

Probably just as well, did you see that article Bylo posted about shipping, brutal! There is a good reason the shippers are lagging this rally.

I wouldn't be too sure about that. Two Fed heads are speaking Monday and will no doubt jawbone the recovery as much as possible and the media will have a feeding frenzy reporting all the "good news". Buy the dips until it stops working.

If this market can't hold the 1000 level a second time it could spell trouble though I doubt we trade back down there again. Long above 1000, short below.

You make a valid point. One possibility is that they know they can't hold the markets up in to the mid term election and so if they take it down now they may be in time for another stimulus which will then bring the market back just in time for mid terms. These guys are nothing if not political...