The breakdown of 1490 SPX and the drop in the banks ..what is next ...???
We know !!!!
Join TTT Hedge Fund today
PayPal $129 to tomandprisha@msn.com
I am trading futures as we speak and going LONG NQ ...are you playing this market right ...we are up $1,000,000.00 Yes ...just look at our record and you will see.....why not join in the hottest maarket timing site with 24/7 serive
The TTT HEDGE FUND 2008
100% guaranteed by PayPal !!!
Join today
Splits:06-Sep-00 [2:1], 01-Apr-05 [2:1]
Last Trade: 42.70
Trade Time: 4:01PM ET
Change: 0.42 (0.97%)
Prev Close: 43.12
Open: 43.16
Bid: N/A
Ask: N/A
1y Target Est: 45.07
Day's Range: 42.30 - 43.59
52wk Range: 31.20 - 44.50
Volume: 1,111,226
Avg Vol (3m): 661,742
Market Cap: 2.68B
P/E (ttm): 13.70
EPS (ttm): 3.12
Div & Yield: 0.10 (0.20%)
Guess what stock is going to be taken over or click and pay $20.00 to see ???? May make you a million $$$$
Tom
24/7
Thursday, November 8, 2007
Wednesday, November 7, 2007
BUYING THE DIPS ARE OVER ????
You have a chance to become a memberof TTT today .
Just PayPal $129 to tomandprisha@msn.com
Get all the news 24/7
Double your money by Christmas ..time to get aggressive as the FED will be friendly tomorrow and off we go !!!
Tom
24/7
*****Please note as I reprinted Tim Knights blog on how he was long now and had 0 index options ....look at what he has to say today after the 360 point drubbing ...Just like I wrote !!!!
Thank God. I made megabucks on my IWM puts but am holding on to my S&P 500 and Russell 2000 puts (as well as my dozens of equity puts).
So hilarious how people LIE LIe Lie just for ego's sake.. I was long and lost money today ...so what we also made some profits and are set for the next run ....Join TTT for educational and honest members and you will be a better investor !!!
Just PayPal $129 to tomandprisha@msn.com
Get all the news 24/7
Double your money by Christmas ..time to get aggressive as the FED will be friendly tomorrow and off we go !!!
Tom
24/7
*****Please note as I reprinted Tim Knights blog on how he was long now and had 0 index options ....look at what he has to say today after the 360 point drubbing ...Just like I wrote !!!!
Thank God. I made megabucks on my IWM puts but am holding on to my S&P 500 and Russell 2000 puts (as well as my dozens of equity puts).
So hilarious how people LIE LIe Lie just for ego's sake.. I was long and lost money today ...so what we also made some profits and are set for the next run ....Join TTT for educational and honest members and you will be a better investor !!!
Tuesday, November 6, 2007
HOW THE BEAR BOUNCES !!!!
HAD to do another REPRINT from the SLOPE OF HOPE ...Tim Knight ...remember how hepped up SHORT he was on Sunday and how he was shorting everything and has for 5 years and somehow still has money ...considering the stocks he is shorting our ones I OWN and I am up 5000% + So here is to Tim knight in the Bears
I said QQQQ 55.00 By Thanksgiving DONE
I said GS 250.00 By Thanksgiving DONE
I said NDAQ 50 By Thanksgiving MISSION ACCOMPLISHED !!!!!!
We still are going higher at the Bears expense ...now read TIM's TUNE .....Funny
November 06, 2007
It Was Time for a Rally
I had mentioned in yesterday's post that we were firmly at support and the candlesticks (two in a row, actually) looked bullish. That turned out to be very much the case, as we had a decisively bullish day, with the Dow pushing up well over 100 points for the day. There was strength across the board, especially in gold and oil.
My only index put is one - yep, one - put on the NDX. I'm basically flat. I am looking to re-enter IWM puts if the price pushes up towards about 80.63 and seems to be stalling there. Until then.....nada.
Looking at the daily, instead of the minute, chart, you can see that the two-tiered support from the Fib and the trendline created an impenetrable wall. Whether this rally poops out tomorrow is unclear. It could go on until next week. No way to tell right now.
Watching the S&P 500, the two things that need to happen are (a) we need to stay below the prior high of 1552.76 in order to start creating a succession of lower highs/lower lows and (b) we need to get below that critically important 1,495 level. The most bullish scenario would obviously be to surpass the high set last month, especially considering how favorable this season is to the bulls.
So is GOOG ever going to stop climbing? Ever? I just read an article that said the average employee who started in 2003 has made $8 million in GOOG stock profits. By average, I mean everyone. Secretaries. Coders just out of college. Everyone.
My calls in Goldman (GS) went up some today. I am a weak hand on this one. This is a short term, opportunistic play. I would get out anywhere in the $235 area.
My puts in HANS did pretty well today. Support is obviously at around the $54 level. Breaking the trendline and the horizontal line, which would require a break below $53, would be uber bearish.
A put idea........XOM. It's got a dainty little head and shoulders pattern. Very appealing.
That's it for today. Not much to report. I hope you're doing well in your trading!
As soon as we drop 300 points you can be sure he had his last dollar in SPX puts or some BS
Join TTT ...Tim Knight is free and you get what you pay for ....
We educate and look for 4 asset classes to get you wealthy .
PayPal $129 to tomandprisha@msn.com
Your membership includes all of 2007 and 2008 !!!
No TTT Bills or ads til 2009 !!!
lowest cost service on the net ....
Join us today !!!
Tom
24/7
I said QQQQ 55.00 By Thanksgiving DONE
I said GS 250.00 By Thanksgiving DONE
I said NDAQ 50 By Thanksgiving MISSION ACCOMPLISHED !!!!!!
We still are going higher at the Bears expense ...now read TIM's TUNE .....Funny
November 06, 2007
It Was Time for a Rally
I had mentioned in yesterday's post that we were firmly at support and the candlesticks (two in a row, actually) looked bullish. That turned out to be very much the case, as we had a decisively bullish day, with the Dow pushing up well over 100 points for the day. There was strength across the board, especially in gold and oil.
My only index put is one - yep, one - put on the NDX. I'm basically flat. I am looking to re-enter IWM puts if the price pushes up towards about 80.63 and seems to be stalling there. Until then.....nada.
Looking at the daily, instead of the minute, chart, you can see that the two-tiered support from the Fib and the trendline created an impenetrable wall. Whether this rally poops out tomorrow is unclear. It could go on until next week. No way to tell right now.
Watching the S&P 500, the two things that need to happen are (a) we need to stay below the prior high of 1552.76 in order to start creating a succession of lower highs/lower lows and (b) we need to get below that critically important 1,495 level. The most bullish scenario would obviously be to surpass the high set last month, especially considering how favorable this season is to the bulls.
So is GOOG ever going to stop climbing? Ever? I just read an article that said the average employee who started in 2003 has made $8 million in GOOG stock profits. By average, I mean everyone. Secretaries. Coders just out of college. Everyone.
My calls in Goldman (GS) went up some today. I am a weak hand on this one. This is a short term, opportunistic play. I would get out anywhere in the $235 area.
My puts in HANS did pretty well today. Support is obviously at around the $54 level. Breaking the trendline and the horizontal line, which would require a break below $53, would be uber bearish.
A put idea........XOM. It's got a dainty little head and shoulders pattern. Very appealing.
That's it for today. Not much to report. I hope you're doing well in your trading!
As soon as we drop 300 points you can be sure he had his last dollar in SPX puts or some BS
Join TTT ...Tim Knight is free and you get what you pay for ....
We educate and look for 4 asset classes to get you wealthy .
PayPal $129 to tomandprisha@msn.com
Your membership includes all of 2007 and 2008 !!!
No TTT Bills or ads til 2009 !!!
lowest cost service on the net ....
Join us today !!!
Tom
24/7
EVERGREEN SOLAR LEADS TTT TO ANOTHER BIG DAY !!!!
t of their reanges
Biegs says:
Tom, hold DIA overnight or try to exit on strength this afternoon?
Tom says:
Well ...here is my take
Tom says:
China has been trampled ..we were down yesterday ..nice rally to day ...they will rally pretty hard ...in my opinion..and will carry us one more day
Tom says:
So I would play chicken as the market can get another 60-100 points on Dow
Marvin says:
China will support the overnite trade ?
Biegs says:
cool, sounds good. we should have some nice support in all this chop if we can bust out of it by day's end
Tom says:
I think so ..Just a thought ...it hasn't been down 10% in awhile and they will probably buy them
Tom says:
TWX DIS
Marvin says:
I am up a good 100 Pts in my YM right now,might as well hold till the close at least
Mike says:
Still suggest getting into those two for earnings Tom? Prior to CSCO earnings?
Tom says:
Marv .....Sell that baby
Marvin says:
I'll play with it awhile,
Tom says:
Mike : I am going to put both DIS and TWX in the Model 50% each
Tom says:
Mike ..you got a current fill price on both DIS and TWX at 3:335pm ???
Mike says:
Give me a sec.
Mike says:
Dis 34, TWX 18.28
Tom says:
we can work our options off the current price OK
Tom says:
OK ..So we bought DIS and TWX
Tom says:
DIS at 34.00 even
Tom says:
TWX at 18.28 even
Mike says:
I'm just afraid that if CSCO, misses or even meets expectations, then some thing is going to come crashing down.
Tom says:
It will ..if CSCO misses we are all screwed long
Biegs says:
Tom, why DIS at these levels?
Tom says:
up 5-6% this week
Mike says:
DIS is a good play in the past though. I've made money off them before. I like to hold stock or options right up till prior to earnings then sell. I've held into earnings in the past and the downside is much more tragic than upside potential.
Tom says:
15x earnings ...dollar in their favor
Mike says:
That's very true.
Tom says:
rare you get DIS at below market multiple
Biegs says:
Still bullish on PFE biotech buyout?
Tom says:
Yes PFE is a BUY
Mike says:
Do you think Biotech and pharma can keep the Bull going?
Tom says:
OK ...are we sure on those quotes ???
Tom says:
Yes
Tom says:
DIS 34.00 ???
Tom says:
TWX 18.28 ???
Mike says:
DIS 33.98 now
TWX 18.26
Tom says:
did DIS rally here ???
Tom says:
I had it as a buy at 33.75 ???
Mike says:
It got there around noon I think.
Tom says:
so it rallied to 34.00
Mike says:
33.65 it looks like.
Tom says:
now at ???
Mike says:
33.97
Tom says:
33.97 it is
Tom says:
TWX 18.28 ??
Mike says:
18.24 now
Tom says:
Done
Mike says:
If CSCO misses, will that bring down DIS as well?
Biegs says:
Man, Dow just stinks. Too slow. May have to switch to S&P or RUT
Tom says:
Probably will bring the whole market down but if DIS reports great #'s it will make little diff
Tom says:
If they report BAD ...it will hurt
Tom says:
Biegs YM up 100 points !!!
Tom says:
1%
Tom says:
You need ESLR
Tom says:
that will keep youawake
Tom says:
GS
Tom says:
Buy some GS to 300
Tom says:
that is a lively one
Tom says:
OIH go long
Tom says:
action
Tom says:
WB
Tom says:
up big
Mike says:
I'm out of XLF Nov 32 Tom.
Tom says:
OK ..How much $$$$$
Tom says:
Profit ??
Tom says:
good play ???
Mike says:
I got $55 profit for 500 risk.
Mike says:
10% increase is a good play.
Tom says:
Thatta boy
Tom says:
better than a poke in the eye
Mike says:
Up is always a good play.
Tom says:
yes
Mike says:
Marvin, you should be up quite a bit today. Great call on the low today.
Tom says:
Marv is in the zone
Tom says:
running the table
Biegs says:
Wow, OIH up nice today
Biegs says:
stay long OIH?
Tom says:
EVERGREEN SOLAR IN (NasdaqGM:ESLR)
Last Trade: 13.48
Trade Time: 3:34PM ET
Change: 1.18
Tom says:
OIH is a keeper
Marvin says:
There !! out @ 660 for a plus 115 Pts !!
Tom says:
Marv
Tom says:
You're the man
Mike says:
Bravo Marvin
brad says:
tom, can you believe iwm passed up spy in performance late today?
Marvin says:
Tell my wife that OK ?
Tom says:
Hard to believe Brad
brad says:
was underperforming all freaking day
Tom says:
RUT took off
Tom says:
got on the run
Tom says:
$$$$$$$$$$$$$$
Tom says:
Big week
Marvin says:
VIX dropped today ?
Mike says:
-2.65
Tom says:
everyone and their sister swore we would be down this week ...as my Sunday night comments said
Tom says:
FED is in Charge
Tom says:
small caps may pick up the pace ???
Marvin says:
I remember you saying that
brad says:
citigroup convinced them they would all be right
Biegs says:
I call 13848 as next resistance on YM if we can get that far this week
Tom says:
the banks are not in bad shape like 98
Tom says:
this is 1/1000000000th
brad says:
98 was russian debt crisis? refresh me
Tom says:
we are OK with lower rates and employment 4.7
Craig says:
That's a big number, Tom.;)
Tom says:
as far as I could go !!!!
Tom says:
LTC
Tom says:
Brad ..a good book
brad says:
when genious failed - read it years ago
brad says:
egghead at the office gave it to me, couldnt put it down
Tom says:
http://www.amazon.com/gp/product/0375758259/sr=8-1/qid=1143218319/ref=pd_bbs_1/103-7049749-2327023?%5Fencoding=UTF8
Tom says:
Thomas can read it
Biegs says:
SPX daily chart resistance at 1540
Tom says:
Stock Market Crashes of 1998 and 1999: The Asian Crisis and Your Future (Hardcover)
Tom says:
Sound familiar ???
Tom says:
2008 2009
Tom says:
So much $$$$ Marvin ..where is the Party ????
Tom says:
tell us how you did it ???
Marvin says:
My place I gues
Tom says:
You knew I was buying options ..so you stayed ????
Marvin says:
exactly
Tom says:
Thanks ...
Tom says:
NOK freaking took off
Marvin says:
Besides I wanted another hundred point gainer !!
Tom says:
man on such a slow week ..you have kicked some BUTT
Marvin says:
LOL, should have hung in a little longer
Tom says:
NO WAY
Tom says:
you are a happy bean farmer
Marvin says:
Hey,, another 20 pts ?
Marvin says:
I'm happy anyway
Marvin says:
Tom turns the market into a cash cow !!
Tom says:
It is out there ....we all should have made $$$ this week
PAYPAL : $129 to tomandprisha@msn.com
Full portfolios revealed upon payment
8 earnings plays
Tom
24/7
Biegs says:
Tom, hold DIA overnight or try to exit on strength this afternoon?
Tom says:
Well ...here is my take
Tom says:
China has been trampled ..we were down yesterday ..nice rally to day ...they will rally pretty hard ...in my opinion..and will carry us one more day
Tom says:
So I would play chicken as the market can get another 60-100 points on Dow
Marvin says:
China will support the overnite trade ?
Biegs says:
cool, sounds good. we should have some nice support in all this chop if we can bust out of it by day's end
Tom says:
I think so ..Just a thought ...it hasn't been down 10% in awhile and they will probably buy them
Tom says:
TWX DIS
Marvin says:
I am up a good 100 Pts in my YM right now,might as well hold till the close at least
Mike says:
Still suggest getting into those two for earnings Tom? Prior to CSCO earnings?
Tom says:
Marv .....Sell that baby
Marvin says:
I'll play with it awhile,
Tom says:
Mike : I am going to put both DIS and TWX in the Model 50% each
Tom says:
Mike ..you got a current fill price on both DIS and TWX at 3:335pm ???
Mike says:
Give me a sec.
Mike says:
Dis 34, TWX 18.28
Tom says:
we can work our options off the current price OK
Tom says:
OK ..So we bought DIS and TWX
Tom says:
DIS at 34.00 even
Tom says:
TWX at 18.28 even
Mike says:
I'm just afraid that if CSCO, misses or even meets expectations, then some thing is going to come crashing down.
Tom says:
It will ..if CSCO misses we are all screwed long
Biegs says:
Tom, why DIS at these levels?
Tom says:
up 5-6% this week
Mike says:
DIS is a good play in the past though. I've made money off them before. I like to hold stock or options right up till prior to earnings then sell. I've held into earnings in the past and the downside is much more tragic than upside potential.
Tom says:
15x earnings ...dollar in their favor
Mike says:
That's very true.
Tom says:
rare you get DIS at below market multiple
Biegs says:
Still bullish on PFE biotech buyout?
Tom says:
Yes PFE is a BUY
Mike says:
Do you think Biotech and pharma can keep the Bull going?
Tom says:
OK ...are we sure on those quotes ???
Tom says:
Yes
Tom says:
DIS 34.00 ???
Tom says:
TWX 18.28 ???
Mike says:
DIS 33.98 now
TWX 18.26
Tom says:
did DIS rally here ???
Tom says:
I had it as a buy at 33.75 ???
Mike says:
It got there around noon I think.
Tom says:
so it rallied to 34.00
Mike says:
33.65 it looks like.
Tom says:
now at ???
Mike says:
33.97
Tom says:
33.97 it is
Tom says:
TWX 18.28 ??
Mike says:
18.24 now
Tom says:
Done
Mike says:
If CSCO misses, will that bring down DIS as well?
Biegs says:
Man, Dow just stinks. Too slow. May have to switch to S&P or RUT
Tom says:
Probably will bring the whole market down but if DIS reports great #'s it will make little diff
Tom says:
If they report BAD ...it will hurt
Tom says:
Biegs YM up 100 points !!!
Tom says:
1%
Tom says:
You need ESLR
Tom says:
that will keep youawake
Tom says:
GS
Tom says:
Buy some GS to 300
Tom says:
that is a lively one
Tom says:
OIH go long
Tom says:
action
Tom says:
WB
Tom says:
up big
Mike says:
I'm out of XLF Nov 32 Tom.
Tom says:
OK ..How much $$$$$
Tom says:
Profit ??
Tom says:
good play ???
Mike says:
I got $55 profit for 500 risk.
Mike says:
10% increase is a good play.
Tom says:
Thatta boy
Tom says:
better than a poke in the eye
Mike says:
Up is always a good play.
Tom says:
yes
Mike says:
Marvin, you should be up quite a bit today. Great call on the low today.
Tom says:
Marv is in the zone
Tom says:
running the table
Biegs says:
Wow, OIH up nice today
Biegs says:
stay long OIH?
Tom says:
EVERGREEN SOLAR IN (NasdaqGM:ESLR)
Last Trade: 13.48
Trade Time: 3:34PM ET
Change: 1.18
Tom says:
OIH is a keeper
Marvin says:
There !! out @ 660 for a plus 115 Pts !!
Tom says:
Marv
Tom says:
You're the man
Mike says:
Bravo Marvin
brad says:
tom, can you believe iwm passed up spy in performance late today?
Marvin says:
Tell my wife that OK ?
Tom says:
Hard to believe Brad
brad says:
was underperforming all freaking day
Tom says:
RUT took off
Tom says:
got on the run
Tom says:
$$$$$$$$$$$$$$
Tom says:
Big week
Marvin says:
VIX dropped today ?
Mike says:
-2.65
Tom says:
everyone and their sister swore we would be down this week ...as my Sunday night comments said
Tom says:
FED is in Charge
Tom says:
small caps may pick up the pace ???
Marvin says:
I remember you saying that
brad says:
citigroup convinced them they would all be right
Biegs says:
I call 13848 as next resistance on YM if we can get that far this week
Tom says:
the banks are not in bad shape like 98
Tom says:
this is 1/1000000000th
brad says:
98 was russian debt crisis? refresh me
Tom says:
we are OK with lower rates and employment 4.7
Craig says:
That's a big number, Tom.;)
Tom says:
as far as I could go !!!!
Tom says:
LTC
Tom says:
Brad ..a good book
brad says:
when genious failed - read it years ago
brad says:
egghead at the office gave it to me, couldnt put it down
Tom says:
http://www.amazon.com/gp/product/0375758259/sr=8-1/qid=1143218319/ref=pd_bbs_1/103-7049749-2327023?%5Fencoding=UTF8
Tom says:
Thomas can read it
Biegs says:
SPX daily chart resistance at 1540
Tom says:
Stock Market Crashes of 1998 and 1999: The Asian Crisis and Your Future (Hardcover)
Tom says:
Sound familiar ???
Tom says:
2008 2009
Tom says:
So much $$$$ Marvin ..where is the Party ????
Tom says:
tell us how you did it ???
Marvin says:
My place I gues
Tom says:
You knew I was buying options ..so you stayed ????
Marvin says:
exactly
Tom says:
Thanks ...
Tom says:
NOK freaking took off
Marvin says:
Besides I wanted another hundred point gainer !!
Tom says:
man on such a slow week ..you have kicked some BUTT
Marvin says:
LOL, should have hung in a little longer
Tom says:
NO WAY
Tom says:
you are a happy bean farmer
Marvin says:
Hey,, another 20 pts ?
Marvin says:
I'm happy anyway
Marvin says:
Tom turns the market into a cash cow !!
Tom says:
It is out there ....we all should have made $$$ this week
PAYPAL : $129 to tomandprisha@msn.com
Full portfolios revealed upon payment
8 earnings plays
Tom
24/7
Monday, November 5, 2007
BIG DAY DESPITE THE AVERAGES
We executed a near perfect DAY TRADE today as we hit the third effort to sell off the markets and went long 2 ES minis and took them up on a nice ride to profits !!!
We do all sorts of things to make money here at TTT and whether it is stocks options futures or just market timing ..this is your LOW COST SOURCE.
The Free daily chat gets members right in the pits as we trade nearly everyday and with a great deal of success as one new Furures trader is 4 out of 5 on trades for nice profits. We have worked with hundreds of new and pro traders alike to make huge profits in this market and continue to look at the coming months as a grea time to JOIN TTT
PayPal is 100% guranteed ..just send $125.00 to : tomandprisha@msn.com
Most services charge that PER MONTH !!!!!
We give you all the data / Info the Pros get for all of 2007 and 2008
No bills til Jan 2009 !!!!!
Last Month at these rates then they go back to $249.00 per year...
So join now !!!!
See why the smart monet is 100% Long TTT HEDGE FUND
Tom
24/7
We do all sorts of things to make money here at TTT and whether it is stocks options futures or just market timing ..this is your LOW COST SOURCE.
The Free daily chat gets members right in the pits as we trade nearly everyday and with a great deal of success as one new Furures trader is 4 out of 5 on trades for nice profits. We have worked with hundreds of new and pro traders alike to make huge profits in this market and continue to look at the coming months as a grea time to JOIN TTT
PayPal is 100% guranteed ..just send $125.00 to : tomandprisha@msn.com
Most services charge that PER MONTH !!!!!
We give you all the data / Info the Pros get for all of 2007 and 2008
No bills til Jan 2009 !!!!!
Last Month at these rates then they go back to $249.00 per year...
So join now !!!!
See why the smart monet is 100% Long TTT HEDGE FUND
Tom
24/7
Friday, November 2, 2007
ANOTHER PERFECTLY CALLED WEEK !!!!
Investors should take some time to join us as we take this market into 2008 !!!!
We have and IRA Account
We have a Model stock account
We have an options account
We have a futures account ....
People have been paying up to $100 just for a daily tip line just one day of trades !!!! And they have made thousands...
"I came here a few times and thought it was impossible...with one day I can see why his CHAT is full and everyone does exactly what he says...I would pay 10x the membership fee!!!"
Billy SoCal
Join for a Full 2007 and 2008 during a special membership drive ....
All of the calls for $129 PAYPAL GUARANTEED TO: tomandprisha@msn.com
Big week ahead next week as the market IS NOT READY TO GO UP !!!!
Tom
24/7
Sentiment Journal: Searching for Safety In...Google? Frederic Ruffy, Optionetics.com
November 2, 2007
Market Data—Past 7 Days
Thursday
(11/01)
Wednesday
(10/31)
Tuesday
(10/30)
Monday
(10/29)
Friday
(10/26)
Thursday
(10/25)
Wednesday
(10/24)
DJ Industrial
Average
13,567.87
-362.14
13,930.01
+137.54
13,792.47
-77.79
13,870.26
+63.56
13,806.70
+134.78
13,671.92
-3.33
13,675.25
-.98
Total Volume (000s)
1,740,000
1,543,000
1,218,000
1,214,000
1,402,000
1,601,000
1,572,000
NYSE Up Volume
87,000
1,207,000
379,000
770,000
1,156,000
759,000
595,000
NYSE Down Vol.
1,617,000
325,000
826,000
425,000
234,000
823,000
951,000
NYSE Advancing
460
2,415
1,231
1,883
2,425
1,592
1,220
NYSE Declining
2,848
887
2,050
1,373
845
1,687
2,069
NYSE New Highs
77
269
128
295
256
141
73
NYSE New Lows
166
60
66
49
60
106
136
Nasdaq
Composite
2,794.83
-64.29
2,859.12
+42.41
2,816.71
-.73
2,817.44
+13.25
2,804.19
+53.33
2,750.86
-23.90
2,774.76
-24.50
Total Volume (000s)
2,534,000
2,505,000
2,140,000
2,024,000
2,553,000
2,701,000
2,752,000
Naz. Up Volume
379,000
1,847,000
937,000
1,252,000
1,738,000
670,000
598,000
Naz. Down Vol.
2,119,000
629,000
1,172,000
719,000
780,000
2,005,000
2,134,000
Naz. Advancing
574
1,996
1,124
1,498
1,973
1,227
976
Naz. Declining
2,470
1,017
1,826
1,478
1,006
1,742
1,992
Nasdaq New Highs
76
121
101
159
121
93
49
Nasdaq New Lows
211
97
99
101
113
147
152
Market Internals: Stocks moved in and out of positive territory during the first three trading sessions this week, but then volatility spiked and the market caved in to another round of aggressive selling pressure. On Thursday, the Dow Jones Industrial Average ($INDU) suffered a 362-point loss. After a brief rally attempt Friday morning, the industrial average slipped below 13,500 in early action, which represents a weekly loss of approximately 300 points. The NASDAQ (COMPQ) held up better than the Dow. It was down less than 10 points heading into Friday’s trading session. The NASDAQ fell 8 points in early trading Friday.
Trading activity picked up as the week progressed. The high volume on the New York Stock Exchange [NYSE] was on Thursday, when turnover topped 1.7 billion shares. However, very little of that activity represented buying, as up volume trailed down volume by a margin of more than 18-to-1! Advancers trailed decliners 6-to-1. Meanwhile, the NYSE New High New Low Index [NHNL], which was near +200 last Friday, fell to -89 on Thursday (with 77 stocks setting new 52-week highs and 166 falling to new 52-week lows.) A similar somber tale was told on the NASDAQ Thursday.
Sentiment Indicators: The sell-off Thursday and early Friday is part of a longer-term trend that has developed over the past few months. Although the major averages were able to hold steady and move higher last week, the tape didn’t confirm the move. As we noted in last week’s installment of Sentiment Journal, “…selling pressure still exists and therefore the burden of proof is on the bulls.”
While the technical action of the market remains uninspiring, the sentiment data raises some questions as well. For example, on Thursday morning when the Dow began its latest decline, not all components of the industrial average were under water. In fact, Microsoft (MSFT), Intel (INTC), and Hewlett Packard (HPQ) were higher. Google (GOOG), which is not a component of the Dow, was also strong. After making a run above $700.00 Wednesday, shares were once again heading higher and hit a high of $713.72 before the selling pressure in the broader market picked up. GOOG ended Thursday with a $3.79 loss. Nevertheless, in terms of market value, Google would now rank among the top five stocks with in the Dow Jones Industrial Average.
The strength in the tech stocks Thursday morning occurred amid weakness in financials and housing. Investors were rotating out of sectors that are at risk due to the housing slump and the credit market debacle. In a sense, this move is really a “flight to safety”. In other words, the risk aversion is giving a lift to technology shares and explains the NASDAQ’s outperformance during the latest week of trading. Unfortunately, this type of action is not consistent with market-basing levels of bearish sentiment or pessimism. In other words, when the “flight to safety” is moving into shares of Google, an Internet name that is already up 52.7% on the year, there is chance that some of the extreme levels of bullishness and complacency that set the stage for the latest stock market decline still remain in the system. It might take some more time for it to be thoroughly washed out.
Some of the longer-term indicators are also more consistent with high levels of bullish rather than bearish sentiment. For example, the International Securities Exchange’s [ISE] Sentiment Index rose to 191 on Monday and its highest levels since May 7. A reading of 191 indicates that 1.91 calls were purchased for every put on the International Securities Exchange [ISE], which is today’s largest exchange for trading equity options. Therefore, traders were leaning heavily on the bullish side of trade early this week. Meanwhile, the latest survey from the American Association of Individual Investors shows that bulls out number bears (44.71% vs. 36.47%). Finally, none of the other indicators covered here (the CBOE put-to-call ratio, the Trader’s Index, Bollinger’s Put Volume Indicator [PVI], etc.) have produced any noteworthy readings to suggest that pessimism, fear, or bearishness has reached an extreme during the latest decline. Consequently, from a contrary view of the markets, it might take further losses and more negativity to form the foundation for the next major market bottom.
Sentiment Indicators—Past 7 Days
OPTIONS
Thursday
(11/01)
Wednesday
(10/31)
Tuesday
(10/30)
Monday
(10/29)
Friday
(10/26)
Thursday
(10/25)
Wednesday
(10/24)
Puts
2,226,686
1,828,390
1,822,132
1,603,512
1,809,635
1,890,002
2,164,689
Calls
2,294,265
2,379,550
1,579,626
1,738,738
2,199,233
1,733,830
2,189,848
Index Puts
1,236,578
1,084,109
909,516
843,456
976,201
981,969
976,987
Index Calls
837,860
713,129
465,317
409,786
628,261
546,128
1,348,656
Index P/C Ratio
1.48
1.52
1.95
2.06
1.55
1.80
0.72
Total P/C Ratio
0.97
0.77
1.15
0.92
0.82
1.09
0.99
VIX
23.21
+4.68
18.53
-2.54
21.07
+1.20
19.87
+.31
19.56
-1.61
21.17
+.37
20.80
+.39
VXN
26.26
+3.15
23.11
-3.25
26.36
+.53
25.83
+.82
25.01
-.76
25.77
+.97
24.80
+.67
TICK
-878
+1,069
+484
+91
+404
+949
+441
TRIN
2.86
.74
1.30
.77
.58
1.02
.93
CBOE PVI
1.07
.89
.85
.74
.83
.88
.98
ISEE
144
113
151
191
159
149
125
We have and IRA Account
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Join for a Full 2007 and 2008 during a special membership drive ....
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Big week ahead next week as the market IS NOT READY TO GO UP !!!!
Tom
24/7
Sentiment Journal: Searching for Safety In...Google? Frederic Ruffy, Optionetics.com
November 2, 2007
Market Data—Past 7 Days
Thursday
(11/01)
Wednesday
(10/31)
Tuesday
(10/30)
Monday
(10/29)
Friday
(10/26)
Thursday
(10/25)
Wednesday
(10/24)
DJ Industrial
Average
13,567.87
-362.14
13,930.01
+137.54
13,792.47
-77.79
13,870.26
+63.56
13,806.70
+134.78
13,671.92
-3.33
13,675.25
-.98
Total Volume (000s)
1,740,000
1,543,000
1,218,000
1,214,000
1,402,000
1,601,000
1,572,000
NYSE Up Volume
87,000
1,207,000
379,000
770,000
1,156,000
759,000
595,000
NYSE Down Vol.
1,617,000
325,000
826,000
425,000
234,000
823,000
951,000
NYSE Advancing
460
2,415
1,231
1,883
2,425
1,592
1,220
NYSE Declining
2,848
887
2,050
1,373
845
1,687
2,069
NYSE New Highs
77
269
128
295
256
141
73
NYSE New Lows
166
60
66
49
60
106
136
Nasdaq
Composite
2,794.83
-64.29
2,859.12
+42.41
2,816.71
-.73
2,817.44
+13.25
2,804.19
+53.33
2,750.86
-23.90
2,774.76
-24.50
Total Volume (000s)
2,534,000
2,505,000
2,140,000
2,024,000
2,553,000
2,701,000
2,752,000
Naz. Up Volume
379,000
1,847,000
937,000
1,252,000
1,738,000
670,000
598,000
Naz. Down Vol.
2,119,000
629,000
1,172,000
719,000
780,000
2,005,000
2,134,000
Naz. Advancing
574
1,996
1,124
1,498
1,973
1,227
976
Naz. Declining
2,470
1,017
1,826
1,478
1,006
1,742
1,992
Nasdaq New Highs
76
121
101
159
121
93
49
Nasdaq New Lows
211
97
99
101
113
147
152
Market Internals: Stocks moved in and out of positive territory during the first three trading sessions this week, but then volatility spiked and the market caved in to another round of aggressive selling pressure. On Thursday, the Dow Jones Industrial Average ($INDU) suffered a 362-point loss. After a brief rally attempt Friday morning, the industrial average slipped below 13,500 in early action, which represents a weekly loss of approximately 300 points. The NASDAQ (COMPQ) held up better than the Dow. It was down less than 10 points heading into Friday’s trading session. The NASDAQ fell 8 points in early trading Friday.
Trading activity picked up as the week progressed. The high volume on the New York Stock Exchange [NYSE] was on Thursday, when turnover topped 1.7 billion shares. However, very little of that activity represented buying, as up volume trailed down volume by a margin of more than 18-to-1! Advancers trailed decliners 6-to-1. Meanwhile, the NYSE New High New Low Index [NHNL], which was near +200 last Friday, fell to -89 on Thursday (with 77 stocks setting new 52-week highs and 166 falling to new 52-week lows.) A similar somber tale was told on the NASDAQ Thursday.
Sentiment Indicators: The sell-off Thursday and early Friday is part of a longer-term trend that has developed over the past few months. Although the major averages were able to hold steady and move higher last week, the tape didn’t confirm the move. As we noted in last week’s installment of Sentiment Journal, “…selling pressure still exists and therefore the burden of proof is on the bulls.”
While the technical action of the market remains uninspiring, the sentiment data raises some questions as well. For example, on Thursday morning when the Dow began its latest decline, not all components of the industrial average were under water. In fact, Microsoft (MSFT), Intel (INTC), and Hewlett Packard (HPQ) were higher. Google (GOOG), which is not a component of the Dow, was also strong. After making a run above $700.00 Wednesday, shares were once again heading higher and hit a high of $713.72 before the selling pressure in the broader market picked up. GOOG ended Thursday with a $3.79 loss. Nevertheless, in terms of market value, Google would now rank among the top five stocks with in the Dow Jones Industrial Average.
The strength in the tech stocks Thursday morning occurred amid weakness in financials and housing. Investors were rotating out of sectors that are at risk due to the housing slump and the credit market debacle. In a sense, this move is really a “flight to safety”. In other words, the risk aversion is giving a lift to technology shares and explains the NASDAQ’s outperformance during the latest week of trading. Unfortunately, this type of action is not consistent with market-basing levels of bearish sentiment or pessimism. In other words, when the “flight to safety” is moving into shares of Google, an Internet name that is already up 52.7% on the year, there is chance that some of the extreme levels of bullishness and complacency that set the stage for the latest stock market decline still remain in the system. It might take some more time for it to be thoroughly washed out.
Some of the longer-term indicators are also more consistent with high levels of bullish rather than bearish sentiment. For example, the International Securities Exchange’s [ISE] Sentiment Index rose to 191 on Monday and its highest levels since May 7. A reading of 191 indicates that 1.91 calls were purchased for every put on the International Securities Exchange [ISE], which is today’s largest exchange for trading equity options. Therefore, traders were leaning heavily on the bullish side of trade early this week. Meanwhile, the latest survey from the American Association of Individual Investors shows that bulls out number bears (44.71% vs. 36.47%). Finally, none of the other indicators covered here (the CBOE put-to-call ratio, the Trader’s Index, Bollinger’s Put Volume Indicator [PVI], etc.) have produced any noteworthy readings to suggest that pessimism, fear, or bearishness has reached an extreme during the latest decline. Consequently, from a contrary view of the markets, it might take further losses and more negativity to form the foundation for the next major market bottom.
Sentiment Indicators—Past 7 Days
OPTIONS
Thursday
(11/01)
Wednesday
(10/31)
Tuesday
(10/30)
Monday
(10/29)
Friday
(10/26)
Thursday
(10/25)
Wednesday
(10/24)
Puts
2,226,686
1,828,390
1,822,132
1,603,512
1,809,635
1,890,002
2,164,689
Calls
2,294,265
2,379,550
1,579,626
1,738,738
2,199,233
1,733,830
2,189,848
Index Puts
1,236,578
1,084,109
909,516
843,456
976,201
981,969
976,987
Index Calls
837,860
713,129
465,317
409,786
628,261
546,128
1,348,656
Index P/C Ratio
1.48
1.52
1.95
2.06
1.55
1.80
0.72
Total P/C Ratio
0.97
0.77
1.15
0.92
0.82
1.09
0.99
VIX
23.21
+4.68
18.53
-2.54
21.07
+1.20
19.87
+.31
19.56
-1.61
21.17
+.37
20.80
+.39
VXN
26.26
+3.15
23.11
-3.25
26.36
+.53
25.83
+.82
25.01
-.76
25.77
+.97
24.80
+.67
TICK
-878
+1,069
+484
+91
+404
+949
+441
TRIN
2.86
.74
1.30
.77
.58
1.02
.93
CBOE PVI
1.07
.89
.85
.74
.83
.88
.98
ISEE
144
113
151
191
159
149
125
Thursday, November 1, 2007
TIM KNIGHT : A REPRINT JUST LET YOU KNOW WHY I AM A BULL
November 01, 2007
Hey, Bernanke - Reduce THIS!
Today was a delight, of course. Back on October 19th, the Dow fell over 300 points. The bulls shook it off, and they had themselves a little tea party yesterday when their co-conspirators coughed up the 25 basis point rate cut everyone on the planet knew was coming.
And yet, merely 9 trading sessions after the aforementioned swoon, we have another big fall in the Dow exceeding 300 points. The reason? Even a group as blinkered and philistine as the bulls are starting to realize that a crumbling economy does not a bright future make.
Look, let me make this simple. Here's what the next three years holds:
A complete sea-change in taxation, including the elimination of any favorable tax treatment of capital gains (there will be a huge backlash against the rich, and gigantic tax hikes will be the weapon used). Huge tax hikes will destroy the market. You can thank Hilary in advance.
A worldwide bursting of this insane China/India/everything else bubble. Tens of millions of utterly naive new investors will be wiped out.
A massive political swing to the left, including the re-emergence of cold war foes. Just as the 1980s and 1990s were a major push to the right, we are reaching a climax now in the form of a plutocracy. I hate to say it, but we're going to now see the re-emerging of all those disgusting things from beforehand, such as labor unions, high taxes, anti-business legislation, and some form of socialism lite in the U.S. The worship of the rich you are seeing right now is the apex of the plutocracy that has taken decades to establish.
This repeated fondling of Dow 14,000 is just the bulls trying to forestall the inevitable. But CROX and DRYS are sort of tipping you off as to what is going to eventually happen to all these momentum stocks. It's called the Greater Fool Theory for a reason, remember.
I would also add that bulls running around getting tiny little boners about the Next Rate Cut are making a mistake. Even the FOMC is signaling that this cut is all those bull bastards are going to get for a while. At least until the economy starts really collapsing. And, if nothing else, remember rates can never go below 0%. Take a look at Japan during the entire 1990s and clue in on that fact.
I'm afraid my obsession with the 2 p.m. gremlins was misplaced. I got out of my IWM puts (at a nice profit) and, just after 2, it really did seem that the Mysterious Forces were going to pull it off again. Nope. They're out of ammo. So I left many thousands of dollars on the table, when simply letting my stops do the work would have been sufficient. Totally my fault.
Actually, if I had any sense, I would have followed my own really good advice from earlier today - - which is to watch the Fibs! They played out the retracement scenario beautifully!
So, Mr. Bear, what's next? I'd suggest carefully watching all the index lows established on October 19th. That's an important psychological low to blast away. A significant Fib level is just beneath, and dropping below that would make things really interesting. Tomorrow morning holds a major jobs report, so that's bound to affect the market one way or the other.
My SOX puts have an absurd bid/ask spread (anyone know a better way to trade this? Post it in comments or write me!) but I love the graph. This is textbook head and shoulders. I've adjusted the neckline, which means the target price is even lower. Anyway, the bid/ask on SOX sux, so tell me what I'm doing wrong here.
China. China, China, China. Your day will come. And man, it will be spectacular. Bubble, bubble, toil and trouble. Those sheep-like new investors won't know what hit them.
You all know about CROX. The stock lost nearly 40% of its value today! Too bad I didn't have puts. For those that did, and enjoyed ten-fold one-day gains, huge congrats to you! Well done!
GOOG stood up incredible well in spite of the market's plunge. However, the newspapers are overflowing with stories about GOOG > $700, and that sort of coverage is a contrarian sign. Added to which, check out the shoot star. I have no position in GOOG, and I fear this stock, but I wouldn't bank on a climb to $800 anytime soon.
One commenter yesterday mentioned the parallel to QCOM's zaniness during Bubble 1.0. He's right. Check out this graph. Look familiar?
Oh, errr, here's what happened when people woke up and smelled the cat food.
As I've said before, one great thing about being a bear is that prices get wiped out much faster than they rise. Look at ABK. It took nearly a decade to get from $30 to nearly $100. And it only took a few months to destroy all that value! Whoo hoo! Awesome.
I don't remember if I've mentioned, but I've got puts on CSCO. It is failing what should be a great breakout.
The exactly same logic is driving my ownership of HANS puts.
I was happy enough with what LVS has been doing since I bought puts a couple of days ago, but I didn't know the treat I had in store after hours..........the stock's off nearly 20%! These puts are going to explode higher tomorrow. I've put an arrow showing where it's trading now.
My TIF puts are a long-term keeper. I see much lower prices for this luxury retailer. The collapse of the plutocracy will take years, but this is just the kind of trade that one can play.
One thoughtful reader sent me a suggestion - VSEA - which I appreciate! This H&S isn't as perfect as $SOX, but it's good enough for me to have bought puts a few minutes after receiving his email!
See you in the morning. It was a great day! Be strong, bears! You're better than they are.
Posted on November 01, 2007 at 01:54 PM | Permalink | Comments (4) | TrackBack (0)
Digg This | Save to del.icio.us
Hey, Bernanke - Reduce THIS!
Today was a delight, of course. Back on October 19th, the Dow fell over 300 points. The bulls shook it off, and they had themselves a little tea party yesterday when their co-conspirators coughed up the 25 basis point rate cut everyone on the planet knew was coming.
And yet, merely 9 trading sessions after the aforementioned swoon, we have another big fall in the Dow exceeding 300 points. The reason? Even a group as blinkered and philistine as the bulls are starting to realize that a crumbling economy does not a bright future make.
Look, let me make this simple. Here's what the next three years holds:
A complete sea-change in taxation, including the elimination of any favorable tax treatment of capital gains (there will be a huge backlash against the rich, and gigantic tax hikes will be the weapon used). Huge tax hikes will destroy the market. You can thank Hilary in advance.
A worldwide bursting of this insane China/India/everything else bubble. Tens of millions of utterly naive new investors will be wiped out.
A massive political swing to the left, including the re-emergence of cold war foes. Just as the 1980s and 1990s were a major push to the right, we are reaching a climax now in the form of a plutocracy. I hate to say it, but we're going to now see the re-emerging of all those disgusting things from beforehand, such as labor unions, high taxes, anti-business legislation, and some form of socialism lite in the U.S. The worship of the rich you are seeing right now is the apex of the plutocracy that has taken decades to establish.
This repeated fondling of Dow 14,000 is just the bulls trying to forestall the inevitable. But CROX and DRYS are sort of tipping you off as to what is going to eventually happen to all these momentum stocks. It's called the Greater Fool Theory for a reason, remember.
I would also add that bulls running around getting tiny little boners about the Next Rate Cut are making a mistake. Even the FOMC is signaling that this cut is all those bull bastards are going to get for a while. At least until the economy starts really collapsing. And, if nothing else, remember rates can never go below 0%. Take a look at Japan during the entire 1990s and clue in on that fact.
I'm afraid my obsession with the 2 p.m. gremlins was misplaced. I got out of my IWM puts (at a nice profit) and, just after 2, it really did seem that the Mysterious Forces were going to pull it off again. Nope. They're out of ammo. So I left many thousands of dollars on the table, when simply letting my stops do the work would have been sufficient. Totally my fault.
Actually, if I had any sense, I would have followed my own really good advice from earlier today - - which is to watch the Fibs! They played out the retracement scenario beautifully!
So, Mr. Bear, what's next? I'd suggest carefully watching all the index lows established on October 19th. That's an important psychological low to blast away. A significant Fib level is just beneath, and dropping below that would make things really interesting. Tomorrow morning holds a major jobs report, so that's bound to affect the market one way or the other.
My SOX puts have an absurd bid/ask spread (anyone know a better way to trade this? Post it in comments or write me!) but I love the graph. This is textbook head and shoulders. I've adjusted the neckline, which means the target price is even lower. Anyway, the bid/ask on SOX sux, so tell me what I'm doing wrong here.
China. China, China, China. Your day will come. And man, it will be spectacular. Bubble, bubble, toil and trouble. Those sheep-like new investors won't know what hit them.
You all know about CROX. The stock lost nearly 40% of its value today! Too bad I didn't have puts. For those that did, and enjoyed ten-fold one-day gains, huge congrats to you! Well done!
GOOG stood up incredible well in spite of the market's plunge. However, the newspapers are overflowing with stories about GOOG > $700, and that sort of coverage is a contrarian sign. Added to which, check out the shoot star. I have no position in GOOG, and I fear this stock, but I wouldn't bank on a climb to $800 anytime soon.
One commenter yesterday mentioned the parallel to QCOM's zaniness during Bubble 1.0. He's right. Check out this graph. Look familiar?
Oh, errr, here's what happened when people woke up and smelled the cat food.
As I've said before, one great thing about being a bear is that prices get wiped out much faster than they rise. Look at ABK. It took nearly a decade to get from $30 to nearly $100. And it only took a few months to destroy all that value! Whoo hoo! Awesome.
I don't remember if I've mentioned, but I've got puts on CSCO. It is failing what should be a great breakout.
The exactly same logic is driving my ownership of HANS puts.
I was happy enough with what LVS has been doing since I bought puts a couple of days ago, but I didn't know the treat I had in store after hours..........the stock's off nearly 20%! These puts are going to explode higher tomorrow. I've put an arrow showing where it's trading now.
My TIF puts are a long-term keeper. I see much lower prices for this luxury retailer. The collapse of the plutocracy will take years, but this is just the kind of trade that one can play.
One thoughtful reader sent me a suggestion - VSEA - which I appreciate! This H&S isn't as perfect as $SOX, but it's good enough for me to have bought puts a few minutes after receiving his email!
See you in the morning. It was a great day! Be strong, bears! You're better than they are.
Posted on November 01, 2007 at 01:54 PM | Permalink | Comments (4) | TrackBack (0)
Digg This | Save to del.icio.us
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