I didn't convey my question very well. What I mean was, what was the volume number. Like 65-85? Something like that because that would maybe be light, and the fact that no news yes. I specifically remember that. We were getting a blow off top and we've had a few since last summer. I can hardly believe we really bottomed at 11,900 and never looked back. That is where I think we will run into trouble again, and gold, metals bottom and we get some really scary stuff happening. Bounce around for a while and then take on the debt bubble and have huge volatility lower.
The run we had from 1598 was a shake out for sure. It also enable the ndx momo stocks to keep things up for another island reversal. I think we've had four of them and al right after the other. The weird part is I never knew about the light volume, as you said. Do not remember that but maybe you can say that it was this kind of light volume now? I remember when spy started trading it was less than 4m a day. Please elaborate if you see this post.
Morgue n stab me made sure vxx went no where. That is them, w out a doubt pulling this kind of #$%$ off against the markets and making anyone who dare hold overnight puts pay up the wazzou. As for the volatility, all that was taken off the table on monday, and anyone long or short was strangled to death on iv. For sure they will run things up to 166 again by friday and wipe out all gain on dollar and get what they want for their banking buddy bonuses.
Now moved back up a third time, same thing less than a few we are back green no matter what the world markets are doing, which are all down...
Now we hit the lows, everytime I post tonight, the opposite happns, phew... Yes that 15250 area has massive sales. I saw we get destroyed tomorrow...
We went almost red a bit when Italy and spain sold off and came back. Then straight up 18 pts in less than about ten seconds. With that in mind looks like we will push the highs on some kind of gap up like yesterday's and then the highs towards Friday because someone loses big if we don't get there.
Doing a spread w the ndx high fliers, puts w them in case we fall and way otm calls on 169's if we explode basically get the money back. When reading about the prez comments about bernanke, no wonder they wan the market higher to sustain his legacy. He doesn't want to be seen as the chairman that failed and any correction will show he has. With money so cheap and the algo's able to trade 24/7 this is possible. This guy's got more pride than dimaggio. There is no way he's going to leave w out his goldman supporters flexing things for all they've got. Socialists never admit to any kind of failure because they've never had to work for the lot of the money they spend, no wonder they always fail so miserably.
This area is a line in the sand. It is where the selling started back in late may and began again tonight. I don't see us moving up anymore no matter how much qe is thrown at japan or anywhere else. You simply cannot use gap ups anymore to sustain it.
That dollar move just saved the pl for some funds who are almost finished dumping it. Basically, it's about to be dead money.
stock looks weak w market topping. Amazing they will nail down 166 on spy easily here and use ndx stocks to cash out to get it.
Went w nflx puts, out even and w loss spy and aapl opening.
Especially since cramer was pumping yesterday, see the bottom falling out on this 50
No truer words said on here today. The major mo with these guys who trade w the banks these days is to get rid of the big moves and wipe out things in premarket and afterhours. If you go back before '08, options trading was difficult. The banks loved the models that profited from the 100+ up and down moves. To them, that was the gravy that they were left out of from the nasdaq runs in the late nineties that they missed out on and their clients made them buy into. The crisis bailouts were nothing more than a way back into being able to control the markets their way. Force people into blue chips and control the moves through collaring and other strategies.
Judging from activity during last meeting definatly volatile. They sold it off heavy w the language and then came in and ramped it up severely. I usually stay out that day and look for a setup.
Be careful of those reverse etf's. I have a friend at gs, who said that over at m stanley, they are getting free money to trade those things against the market. I would supspect that is to keep people who are investors out of them, and to continue the mo of ramping things up. These kinds of things effected the spreads I was using last year and early into this one and I could'nt figure it out why I was losing my premiums. When he told me that, I understood it.
But with this steady stream of fund managers saying stocks are cheap, they futures traders and instructed to buy every bottom overnight and run them back up. We have now, imo, entered a new age of gov't controlled markets. Qe is everywhere. From grocery stores and food stamps, to housing. Autos and energy. After today's move wiped out the losses from friday I see it that way, and if the market doesn't move down this summer I will be giving up trading options for the first time in twelve years to just buy stocks at percieved market bottoms. I've never seen any thing like this, ever. I've got friends that barely work if they are in the right business that is sponsored by some sort of qe and government. Others have to work like hell to make their co's survive without it. We've entered a different world.
The ratio of the opening prices to the close and the lod. There was a half move there. Normally, the option traders will buy the thursday or friday low before expiration and try and drive the market up to the highs from the year. It's not happening this time. Stocks like aapl are too weak and fading w the pcln's and googles.
THESE are the people who've gotten away with murder since '08. NO ONE can afford to live in a lot of these home they KEEP building. They don't want people to have decent jobs seems to be the mo, just busting their #$%$ in construction which is what they do. The current administration gets greased by these folks by more than anyone. The funds are now going in to buy them all up w the fed's money and to rent them out. But there are no renters really for houses like that? Free money for the ones that are on the right side.
It's called socialism to me. I know that might be too simplistic, but look at how involved each gov is w their markets now. France's prez came out and said 'The financial crisis is now over'. With 14% unemployment there, the market immediately nose-dived there last week and came roaring back next day. See, none of these people can be wrong, and none of them want to be. It isn't about money it is about ego. Everywhere you see it, they are making everyone else but them pay for it, and m thatcher was right.
This is why some traders call them the 'funny mentals'. No, it doesn't, and it's clear the stock market doesn't trade on them. About ten years ago the presidential admin visited chicago when I was there thinking about working. From that time until now it's clear that the government is involved more than ever. They not only want to control it, but the moves in it to take out the public money that it see fit. The people that have the good jobs are covered w stock option plans. Everyone else, watch out was that message. Socialism at it's finest...