We love the chart. We speculate that there won’t be TOO much fed will do tomorrow. Even if they cut by 25 points the market will bounce initially and then take the financials and retail down with it
SKF is a double inverse of financials. We think we’ll see a initial spike for the financials and then a brutal sell off to follow.
That would make SKF all jumping and pumping. Go to the chart here. See the pattern.
1) Tomorrow,01/30/2008, If Fed cuts nothing tomorrow.
2) Late tomorrow 01/30/2008, or after noon the day after tomorrow 01/31/2008, If FED cuts 25 basis points.
3) if FED cuts more than that, we will wait on the buy.
Good luck Swinging. This is one of our best recos in this market. Guys keep it going. It’s got the liquidity. It’s ‘off the highs from the last cut’ We are ready for the trade Are you??
Our MPEL is off to the races . We are up more than 24% from MPEL.After our first buy above the $11!!! Thanks to the huge sell off?? or damn huge sell off? We told you buy buy buy when it was going down. Did you act in time??
Good Luck Swinging,
WE CALL BERNANKE ANSWERS. BERNANKE CUTS 75 POINTS. HAS HE BEEN READING THE BLOG ?? LOL. We called for atleasat a 50 point cut soon…and there we have a 75 point. It’s so comforting.
That was one huge sell off going into the market open today and then the Fed rescue…..All this is past now.
When you think about what to do now…Think of these factors.
I would like to see a retest of the morning lows or atleast a test to around 3.28% levels. Retest on a LOW VOLUME would mean that the sellers are done with it. But, even if it does not sell off into the close and turns positive by the end of the day, then its a very bullish sign for the week. But that going into positive should be with some decent volume. When all the sellers are done selling, its a bullish sign. If the market keeps going down into the close today with the Margin calls and volatile selling…….then it will be a short term bulllish market going into the next FED meeting this month end.
We are going long today after 3:30 PM if we retest the lows with a low volume…otherwise we stay out.
Don’t believe low volume driving us into positive today. If that’s the case short the market. If you see high volumes positively going into the close buy it.
Any one remembers the last frames of the movie …’ I am Legend’ where Will Smith pleads the virus affected people that he has the cure for their desease???
I see myself you and most other people who are long in that glass shielded room with uncle Ben Bernanke sleeping like that sexy bitch in the movie. The only thing different here is he doesn’t seem like he is sleeping or dead..he is taking naps but saying I’m all awake.
Though, we hedged our selves by buying some etfs and shorting some stocks, we lost on our long portfolio….and there’s no hiding it.
Did any body see what happened to Apple yesterday??? Pity the stock 😦 We didn’t have a position but it really felt bad to see the Bears raiding, raping and killing the stock. That actually speaks of the market condition. We need not say anymore.
If you are intelligent play something on the short side or get some ETF’s under your belt. Or even get some puts for the stocks you own. We advised to a few people who were on the chat box about buying puts for MPEL, NZ and RIO and know that some bought but we know at least 7 (if my count on the chat box is right) of them who thought options are too risky!
Don’t visit your portfolios for a few days….atleast untill you hear that somebody called a Helicopter has opened his eyes and shows the virus affected people that he has the medicine. hopefully Gold and oil retreat a little and we some basis for Ben to cut at least 50 points which would be wonderful.
Just close your eyes until Ben opens.
Hoping that the “Last ‘long blog’ on the planet is not alone” 😦
It’s been raining for a few days here in California. Its been raining bears all over the market for the few days. Rain stopped today and the loox like we have some short covering going into the close today??
Any resemblance LOL so funny No No sdon’t start thinking abt the resemblance…therez none….I was just kidding LOL
OK seriously does this small short covering mean anything??? Does it mean we can at last feel relieved from the pain?
We don’t think so.
Though let me put up some interesting calls from the other two members of www.YOURADU.wordpress.com
Derek, thinks its buy time for materials…RIO was his reco and he says now is the time for another trade if you missed out on the last one. Triple Bottom formed in the last three months. Put a stop at $30 though.
James says buy something on the technology, we hold Netsuite the new baby and NZ – Netezza. We doubled our small position in Netsuite today after the break out started today…around $28.6. Credit goes to James. He said…” You remember the first day when it traded around 25 -26 whole day when we bought and then jumped right over towards the end?” Hopefully his thesis works out and we get our lost profits back. Otherwise, I promise you all I’ll kick him in his own cubicle.
Our initial buy of Netsuite was around $26 and now same amount of shares at $28.6 (you can see that trade on a day chart 😉 ). It’s a small number of shares though and that’s the maximum we have allocated to N.
Lastly my call on MPEL….I want to say WHAT THE MPEL? That was one heck of a jump late in the day. You remember our buy point right? We are right back (almost) there. Look at those huge buy order coming at the end of the day. I think I don’t need to do all that bla bla again …that green volume in the last 2 hours of around 2 Million shares speak it 😉
Last but not the least…. we think if you want to do some day traes on the long side tomorrow should be good after that report from Alcoa we think tomorrow will be a good high day…though it might evaporate to about a half of what it starts by the end of the day.
Good Luck Swinging,