Gotta love ZERO RISK in the SP500 = $$$

[FireWalker]

In case you missed it, HD looks like a possible short:

 

[SteveM]

Looks like the wheels are coming off the S&P rig: WMT

That's the problem with bull markets driven primarily by multiple-expansion - I remember in 2011, WMT was trading at 12X earnings and no one wanted it, compared to 30X earnings as of last Friday.

If WMT posted a crappy quarter at 12x earnings in 2011, the stock may have dropped 1% or so....but when stocks are priced for perfection and bad news comes out...look out below.

 

[SteveM]

....looks like stocks don't like the results of the treasury auction

 

[SteveM]

just got long SPXL @ 46.09

 

[SteveM]

out at 45.97...didn't like the way it was acting.

 

[SteveM]

out at 45.97...didn't like the way it was acting.

and up she goes.....

 

[Rickshaw Man]

out at 45.97...didn't like the way it was acting.

Didn't like they way it was acting is not a sell signal. Didn't like they way it was acting is emotions, and they have no place in a successful traders day to day plan.

 

[volente_00]

Shorted 2753.75
Stop 2767

Added 2754.5

Targeting a dip under 2700

 

[volente_00]

That's the problem with bull markets driven primarily by multiple-expansion - I remember in 2011, WMT was trading at 12X earnings and no one wanted it, compared to 30X earnings as of last Friday.

If WMT posted a crappy quarter at 12x earnings in 2011, the stock may have dropped 1% or so....but when stocks are priced for perfection and bad news comes out...look out below.

WMT filling an open gap

Very buyable on the fill

 

[Rickshaw Man]

At one point if the afternoon session the Dow had been down over 300, BUT FINISHED THE DAY WELL OFF THE LOWS. Citizens feel better.