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Volatility has shown that it is likely here to stay for awhile at least. A volatility trade not based on direction could make money. Skewed short? Any who I'll repost on this thread in Sept. to follow-up on the initial premise. GLTA

Market stalling at 1650. Clearly bracketed by 1600 and 1700. Straddle at 1650?

Like a great trader I know once said you'd be surprised how long mispriced assets can continue. Think RE in 2005 or tech stocks in 1st qtr 2000. Feels like forever if you're over levered on the wrong side. I only hope the word hedged ---and by the looks of today's numbers--- many are through...

Sure looks like a springboard to 1675. Kabuki theater before the real slamfest by the PD's?

We're kinda slow until FED speak next week. The 90 day outlook is weak. But a good chance we spike after FED speak into Options Expiration to retest May high. The sell idea for today was for longer term traders which should be hedged if we drift higher to retest May high and allowed to run...

Good place to liquidate longs and/or kick off a new short on Friday Jun 14 @ 11:45 EST. Just sayin'.....

Agreed. Notice Asia's fairly robust rout and yet domestic equity market's are "stable." Why? Best of the worst. FED as backstop. Everyone "knows" the FED has their back. Having said that it's summer, we had a good run over the past 6 month, 12 month, and 4 year timeframes. So-----...

Not necessarily. Establishing a "position" and then trading around the position is often most profitable as the noise gets attenuated. BTW futures already tested 1600 tonight. The rest of the week will be interesting. Depends on POMO for the MOMO and last dip was met with propping by the...

It's difficult at present as the market is rebalancing. Had it been status quo we would have ticked to new highs but the markets are no longer free to find their natural balance. As mentioned FED, FED, FED. Lots and lots of juice swirling around looking for returns. We have a powderkeg...

If we break 1600 with any momentum then you can forget any runs back to retest May's high for at least 3 months.

Weak close brings a retest of 1600 into view. I would anticipate sideways markets with the combo of Fed support, summer doldrums, and the digestion of the strong bull move over last 6 months.

High on May 22nd likely to hold. FYI retest of May high possible on options expiration day June 21st. If that were to occur I would expect weakness thereafter until a new low is established. High for year 1715. Target low over summer 1450.

Perfect. Nice. To the mark. Kudos

Not to disappoint re: short actionable tweets on the sweets---money making trades here's a little background macro to chew on: The FED based on their de facto status as the world's reserve currency which allows printing money at will which feeds the world's economy but also is used to finance...

http://www.businesscycle.com/ecri-news-events/news-details/economic-cycle-research-what-wealth-effect A chart worthy of perusal from Lakshman Achuthan's ECRI. "The equities market may be rallying but we are in a recession"

Steep ramps like the one experienced recently tend to collapse. Of course we'll have strong rebounds but likely we retrace for both technical and macroeconomic reasons. 1. Financial Times June 1, 2010 3:23 pm Canada raises interest rates The Bank of Canada has become the first G8...

Sure did. Nice job.

One week later the key reversal high remains a technical high in the SP500

Couple problems with your assertion. Monday is a market holiday in the USA so perhaps you are referring to Asia or Europe or perhaps Tuesday. Global markets are correcting. We are bouncing yes but resistance to establish new highs are substantial unless we go for a climactic blow-off top...

Reminds me of the time gold was $550. Sure it had ramped from 450. This guy I know was badgering the crap out of me for one good trade I said "Buy Gold." He argued and huffed and puffed and I said you wanted solid advice on one good trade. To this day the guy is still beligerant because he...