Weekly Poll: Will Buyers Knocked Out By Expiration Put Up A Fight?

SPY Next Week?

  • Bullish

    Votes: 11 27.5%

  • Flat

    Votes: 6 15.0%

  • Bearish

    Votes: 19 47.5%

  • I prefer to keep my opinion to myself

    Votes: 4 10.0%
  • Total voters
    40
  • Poll closed .
What explanation did they give to the gap down? I try not to read the news to avoid corrupting my mind. I would not be surprised that in the morning they gave negative news, then when the market is green, they would put some other type of news. Could some one say what was the news explanation they gave?


Shortie: Congrats! Do you plan to start selling trading signals sometime soon? :)

Did you cover QLD? It traded at 53 and change. 10% gain should be enough for you.
 
maybe...

but then too many people will jump in and erode my edge...

i guess not.

**second failure at 108, i guess it is over for longs today**
 
i know it does not make sense that the strong market like today will close red. but i had a dream last night that clearly showed red a day today, but green tomorrow.

1 hr left
 
Smart buy side money is lined up between 106.50 and 107.25 for today. At high side of the range, and even above it, some today's bears who shorted the bottom are praying to never short a gap down again, even if they read it in books and consider it gospel. Do I hear some say, Lord I will never do it again if you just give me a pass on this one...:)
 
Quote from shortie:

i know it does not make sense that the strong market like today will close red. but i had a dream last night that clearly showed red a day today, but green tomorrow.

1 hr left
More...

The color does not matter for today. The "fleecing" already took place. Bears are already buried below. The guys who can take it down are mainly profit takers, and heavy hitters like our friend Shortie. :)
 
did not expect EOD rally and got caught with my pants down. i hate those one-way-street days.

small sell-off before Ben speech tomorrow?

"United States : Chairman Speech
Released For 7/21/2010 2:00:00 PM
Description
Federal Reserve Chairman Ben Bernanke Testifying before the Senate Committee on Banking, Housing, and Urban Affairs, U.S. Senate for the Semiannual Monetary Policy Report to the Congress "
 
Quote from shortie:

did not expect EOD rally and got caught with my pants down. i hate those one-way-street days.
More...

You have pants? I thought you had only shorts when you do not trade naked. :)

You did not read my previous post (where I mention the burial of bears) before your got yourself caught ?

Do you think we are back to "buy the dips" mode?
 
Quote from shortie:

...

small sell-off before Ben speech tomorrow?
More...

Since you seem to have already shorted the market heavily, we will not let you down and we will be praying on your behalf if you get in trouble. Do not repeat it too often though. :)
 
Today's bottom was where I was anticipating the bulls to be hiding. I showed up late, and did not participate. I was waiting for a pullback, but it never came back.
 
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