How would you play todays events tomorrow morning?

so with rimm its just something that you feel based on trading it lots?? i used to trde F regularly and was always right on those ones, these days i dont ususally pay attention to a stock for more than 15 mins though, ill put rimm on the watch list, best of luck to ya tomorrow.

where you sseeing support at anunakki??


nyone else got some golden picks for tomorrow???

Quote from Anunakki:

- Those are stocks I trade a lot and I know them pretty well.

- They are also hitting major support and I expect a decent bounce

- they tend to make pretty obvious reversals and when they do they move a lot. So its pretty easy to catch say, RIMM or CMI for multiple points.

AVY is extremely weak and Im definately shorting it as it rallies back to resistance.

The only thing that will throw me is if we open and go straight down with no real opportunity to get in.

But I think more than likely ( here I am playing Nostrodamus ) we will have a 15 or 20 minute decline to wsh away all the people dumping after work and then I see a rally into lunch. Coourse I think after lunch its gonna get ugly.

Disclaimer: Just giving what my gut and head tell me.. if you're smart you wont listen to a word I say :)
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Quote from Anunakki:

i think the differenceback then is ma and pa had invested in bucketloads of small cap dot coms trading at insane valuations with little to back them up.

Whats going on now is not anywhere near as volatile. Stocks are overvalued but nowhere near to the extremes of that era.

Just my $.02
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that and the fact that part of todays decline they are going to hear was based on an error, ma and pa may think that they have the inside edge based on cnbc :D poor bastards
 
As for the original subject of how to play this tomorrow morning I would wait to watch the opening range and volume.
Today we had 50k+ volume on 5min bars on the ES for the 1/2 half hour after the opening bell which was a sign the market was going to move. Normally on a trending day we see about 25k, and on a choppy day we see 10-15k. If the initial range is tight on the open look for a break out.
Simple enough.
 
Quote from romanvm:

any thoughts are welcome...
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With delicacy and conservatively.

Let some wounds heal first.

Watch action in the first 15 min, at the very least. Draw the top and low range of that timeframe. Use daily pivots to guide yourself and watch Adv-Decl carefully.

Tight stops and stay with the trend.

Hope you do well.

Neet
 
Quote from Spectre2007:

please study history, and look at past declines. Use probability in your favor. Could it turn tommorrow, sure.. but usually it continues like this for 2 days bare minimum. The third day a up move is attempted, but its soon sold off, the week after a upmove gains traction. Then people get on board, then it declines to the previous weeks lows, then it consolidates and moves up again.

and before we know it we are at march fomc meeting. The market is forcing the fed to cut rates. So bonds will rally. And the stock momo down will continue a meaningful turn wont happen till a few days before FOMC. The volatility waves will be larger then usual, so even if your correct on your decisions a bad entry can lead to your stop loss being hit.

so study history and work from there.
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Why do you think a one day decline will 'force' the market to cut rates (which is not really the way it works), when an 8 month rally didn't force the Fed to raise?
 
I'm goin all in....at the open. Some of these stocks are at prices that are just too good to pass up. Gonna get me some. Hooyah!
 
This morning when I saw the futures down over 10, I put in a few of orders before the open on NYSE stocks looking for a gap down. My plan was to get out as soon as possible and I was willing to settle for half of what my daily profit target was, I was lucky, I got 60 per cent and was out of the market in less than a minute. I plan to make the same play tomorrow but I will not put my orders as much below the close as I did this morning. I think to make 50 per cent of your target on days like these, is a good goal. I have actively traded for over 15 years, the last 10 full time for a living and there is no book on how to trade 400 to 500 point down days.
 
Drew,

its a combination of things, if it was localized to the USA, and the selloff wasnt worldwide, then the FED could sit back, plus other situations as credit swaps and housing all impinging on the market at the same time.
 
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