Oil beginning to threaten SIFs

Quote from nitro:

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People have been selling the short end of the IR curve and making easy money. ...

nitro
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I should clarify. I mean that people have been shorting the front end of the rates curve. Shorting yield, buying prices.

nitro
 
Orders are in at 1272 SPX with a 4 handle stop loss.

If we lose 1270, we probably dive like a submarine, but odds are just too great we hold the low. If not we take the loss.

For investors, C is within $2 of bottoming imo. This is where we start to put more than tiny shares on.


nitro
 
1315 SPX first resistance. Massive size being offered there on the DOM. If we take out this level, get the torch out.

Then it goes to 1325 resistance and 25 SPX increments from then on.

1420 SPX is the holy grail.

nitro
 
There was a seller(s) at 1333ish. The seller(s) is still shelling the bid with size. But note the support at 1325 SPX. When we clear the seller(s), watch out.

Energy is not helping today which is why this is marginally plus.

nitro
 
As stated here

http://www.elitetrader.com/vb/showthread.php?s=&threadid=120913&perpage=6&pagenumber=1

imo this drop is 90% based on that news. As I mention in that thread also, imo this news was known yesterday day to some. This I can tell from market action, in retrospect.

We are nearly back to where we were when the FED made history. I doubt this breaks the camels back, but we are once again in grave danger.

There is no such thing as a tripple bottom, at least not in classical technical analysis.

nitro
 
The short term decoupling of energy, the dollar and gold is temporary imo. It has to do with the roll over of the front month contract in oil imo.

Be careful selling short oil. As soon as that works itself out, and it may even do that intraday today, oil can rip higher based on the move witnessed in gold and the dollar. On the negative side, there is technical resistance at 110ish.

nitro
 
If you are short SIFs here, you are in grave danger of getting run over. This goes green.

You have been warned.

nitro
 
Ok, NQ is green, ER2 green. XLF is lagging because of the unwinding of hedge fund positions. We need XLF green.

Now the only danger is some other hedge fund having to meet margins.

That is no joke, it is a real possibility. The MERC is raising margin requirements, and I would not be surprised to see others follow suit.

But that is chicken shit. BUY.

nitro
 
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