ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
- Start date
- Status
Brock, you know the market always screws the majority in the end. Even you did not have faith at 2:30 about the boyz and 30 minutes later they showed. Call it news, or whatever, but the fact remains is they took it back to green 27 points up at a 45 degree angle in less than 1 hour.
Yeah, I just trade what I see. I can't predict worth a damn and I threw my ball out the window a long time ago. I try to trade without a bias on either side and yes the late day rally was a thing of beauty. I should have pulled the trigger when I had the chance to get long but oh well, there is enough out there for the taking for all of us. Let's enjoy the afternoon and toast the good times. I'll drink an extra beer for ya tonight!
This new bear market rally could go as high as SPX 1000
Or it could fail and SPX makes new lows.
From another forum ---
http://www.traders-talk.com/mb2/index.php?showtopic=101470
Here's something I have covered on another forum. As a disclaimer, since whenever I post here it gets twisted to pieces, I am not any raging bull on stocks having (at this moment anyway) only 5% in equities. The remainder is 82% in junk bonds funds - both open end and closed end - and 13% cash. If I had my druthers, stocks would take out their November lows. Please check out the chart below. It's a comparison between junk bonds and the S&P. PHT and EAD are closed-end junk bond funds and the other two, VAGIX and LBHBX are open-end junk bond funds.
As best as I can recall since 1991, over the very short run, this is one of the biggest positive divergences I have seen between stocks and junk bonds. The last time it was like this (in the open-end at least) was January to early March 2003. We know what happened after that. I am not saying it will happen again because the economic landscape is much more dire this time around. Plus, while history may repeat in the market, it's never quite like expected. The strength in junk bonds is a bit counterintuitive in light of a predicted spike to historic highs in corporate defaults in 2009.
Warren Buffett has purchased $850,000,000 in junk bonds the past few weeks. There has been more deal volume in junk bonds the past month than in the previous six months. Investment grade bonds are also seeing a thaw as witnessed by the eager reception of Cisco's recent $4 billion offering among others.
I don't make any predictions and for all I know this recent rally in junk bonds will prove ephemeral. Or maybe there is some decoupling occurring between stocks and junk bonds like we haven't seen in the past. I am sure bulls and bears alike will interpret the recent divergence within the confines of their particular bias.
http://finance.yahoo.com/echarts?s=PHT#cha...ource=undefined
Or it could fail and SPX makes new lows.
From another forum ---
http://www.traders-talk.com/mb2/index.php?showtopic=101470
Here's something I have covered on another forum. As a disclaimer, since whenever I post here it gets twisted to pieces, I am not any raging bull on stocks having (at this moment anyway) only 5% in equities. The remainder is 82% in junk bonds funds - both open end and closed end - and 13% cash. If I had my druthers, stocks would take out their November lows. Please check out the chart below. It's a comparison between junk bonds and the S&P. PHT and EAD are closed-end junk bond funds and the other two, VAGIX and LBHBX are open-end junk bond funds.
As best as I can recall since 1991, over the very short run, this is one of the biggest positive divergences I have seen between stocks and junk bonds. The last time it was like this (in the open-end at least) was January to early March 2003. We know what happened after that. I am not saying it will happen again because the economic landscape is much more dire this time around. Plus, while history may repeat in the market, it's never quite like expected. The strength in junk bonds is a bit counterintuitive in light of a predicted spike to historic highs in corporate defaults in 2009.
Warren Buffett has purchased $850,000,000 in junk bonds the past few weeks. There has been more deal volume in junk bonds the past month than in the previous six months. Investment grade bonds are also seeing a thaw as witnessed by the eager reception of Cisco's recent $4 billion offering among others.
I don't make any predictions and for all I know this recent rally in junk bonds will prove ephemeral. Or maybe there is some decoupling occurring between stocks and junk bonds like we haven't seen in the past. I am sure bulls and bears alike will interpret the recent divergence within the confines of their particular bias.
http://finance.yahoo.com/echarts?s=PHT#cha...ource=undefined
Sal, I think you insulted the boys a little to hard with the taunts and that is why they decided to show their power.
Quote from [Proximo]:
Night all.
Good trade man!
Covered at the bottom but no way I could step in to pick that low.
You have balls.
Vol,
Today is a bit odd as the boyz acted less than 10 mins before the move ... usually there is a 15 min plus time span.
They must have received their memos a bit late
Quote from Lawrence Chan:
Vol,
Today is a bit odd as the boyz acted less than 10 mins before the move ... usually there is a 15 min plus time span.
They must have received their memos a bit late
They were just giving the lions time to sell some 80 - 83 put premium in order to trap more shorts and add fuel to the fire.
http://finance.yahoo.com/q/op?s=SPY
- Status