Market Calls

Dow woke up and joined in the party to the downside with the NQ this am but we are at the bottom of the range so it's time to put up or shut up.

So far today the NQ has formed a nice engulfing pattern on the daily for a potential top and retracement into next week.

We shall see where they close today.

YM has a downside target of 10395 area (current price) 10475.

NQ could easily retrace to 1505 area (current price) 1550.
 
Guys, just a reminder to keep this thread on Market Calls, as it will get too cluttered too fast if you discuss software, resources, etc. Thanks.
 
Quote from jonnysharp:

ive got UTSI on my hotlist. looking for break above 7.75 with volume. using a .60c stop. hold period(swing) 3 - 14 days depending on price action. will notify when entered and exit.
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im in at 7.78.
 
volume is pathetic today

sniper this, pick off that... where are my hebrew people?
praying...?
...i suppose a big topic this day is the likelihood of a terrorist attack on July 2nd. i wonder if that date fits the criteria for numerology followers. at least the market had one last hoorah!

alex

EDIT: what happened to the internal controls at berkshire? isn't buffet supposedly a hands on, tight controls guy?
 
Quote from MAESTRO:

Short WYNN (sold July 55 calls @ $2.50).
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hi Doc,

...it must be a technical short, i know wynn is pulling a couple casino licenses...
i'd clean off my bear suit at the one hour dry cleaner and check for mothballs in the pockets...lol:)

alex

edit: $50 for a quick turn ... i like the short ... if it can close under water(50ma or the open) even better ... one thing i don't like is the volume/turnover this morning, not enough fish on the hook to get big ... hope you break necks ... good luck
 
You are right. It is a tech short. Also, I needed some shorts to balance my portfolio.
I did have equity short on WYNN too. Attached is a snapshot of 1/4 of my current portfolio.
 

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