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IWM FIB 61% around 53, 52 support
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• Monday, November 02nd, 2009

I’m an 11 year stock picking veteran, 115% returns!
IWM, I’ll be glad if and when IWM is near the 53-52 area–So I can turn into a super bull!

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Category: Index charts, youtube fav's
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  • QQQQ up pre market --up above 41.75, then look for 42.2
    SHORT qqqq 42.4-42.2 if it gets that high tomorrow
  • TenYear
    Usual Fed day...gap open, small upward crawl followed by instant selling and buying and then a selloff into the close. Next step, up day tomorrow.

    we will see.

    8:30am initial claims
    Friday, jobs numbers.
  • rose2797
    Z, I bought BW atr 17.47
  • I didn't think anyone followed BW!--I should go with the usual 3% stop loss-- I don't see a clear exit price, except that the avg minimum price channel is $3
  • note to self, don't try shorting OSK until $40
  • TenYear
    MGM bmo tomorrow. could go either way
  • GLD $1144, could happen if DZZ goes below RSI 30, at RSI 30.04 now
  • here's how out of whack NAT gas and UNG are--IF natgas goes to $4 it's 200 day, it's been as low as 2.62, and then doubled, but UNG came no where close to doubling, off it's lows--anyway--UNG = 7.80 if NAT gas goes $5 down to $4
  • TenYear
    UNG trades futures and swaps. Gotta go off of the futures which have been higher this month for the first time in quite a long while. Inventories tomorrow. UNG buyers now are guaranteed $11.17 but a retest of lows could come first.
  • So where are the futures? $6? down to $5, gives the same $7.80--I'm telling you, it seems like a form of price controls--for NAT GAS--What will be next? GLD? I'm already seeing a little divergence between GLD and Actual Gold.
  • BHI, BJS, down 5%, that's what's stagnating OIH
  • sungsop1
    Hi Z and Tenyear
    Would you short the market here?
  • TenYear
    good call
  • on a DIA short, use a 1% stop loss
  • EWC will really have to struggle to get above it's 50 day, current price. Which means ECA could go either way Thursday, APA,APC,EOG, too! Overnight chart confirms this.
  • KGC is HOT!
  • STRA, the stop loss is easy use 1.5%, it's at its 200 day 199 or so
  • UNG and $natgas, are way out of whack, the NAV, must have gotten bigger! Must be some sort of price control experiment, for Nat Gas!
  • rose2797
    Z, what do yo think about MPEL. I bought it today at 5.01. How about STEC
  • I can barely figure out LVS MGM--MPEL under $5, I'd get out--STEC is doing a RIMM ,rising competition--STEC is still a $20 or $30 plus stock selling for $14, not too shabby--just have to get a good entry, which is today maybe!
  • Name
    DAMM, YOU ARE GOOD Z!!!!!!

    SOHU, LMT. WFR, NO GOOD ANYMORE?

    STILL WAITING ON NYX

    LOVE YOUR MEMBERS SITE

  • WFR, support is 12.05-12.10, SOHU buy it at 52-53--I think it will pull back, LMT should pull back, get in around 68--that's what's cool about falling knives w/ deep negative RSI's, 70% of the time, I get a second chance at the entry.
  • BW is a good engineering company---falling knife is OVER. go long--I think I can get in under 17.3 at 17.6 now
  • RIMM,AEM, short the pop up, works, no strength, indicates market is still in a downtrend, QQQQ 39 first support
  • Stockcharts site went down---update, working again
  • DRIV gapped up 10%, at least I know it's still a market darling when it's $22. SHort it at $26 or so.
  • KGC finally moving higher, yesterday was the bottom--
    MON never did go to 62-65
  • Dow futures up +42, midnight pst.
  • Bravenet says they can do the Z's Weekly financial newsletter. I'll post the sign-up box, later in the week. This should be interesting, because I haven't a clue, as to what goes into a weekly newsletter.
  • IFN chart members area--
  • Bio-tech forming support, it's ok to go long on any dips
  • AGP alert--back in play!
  • On Chinese and other high flyers---(ungainly P/E's) I always assume I can be off by as much as 11%, So I use 2% stops. SOHU at 52, no stops, or a 5% stop, I'll accumulate--Overnight chart says to go long now or at 50.0 w/ $58 exit
  • SOHU, my original entry 56 stopped out, now that entry is the 100% exit = $56
  • SOHU long at 52.27---exit is easy $56 = 200 day
  • VMC-- getting a whack a MO, down to 44.8
  • SOHU DEC 45 calls , loading up!
  • NYX, waiting one or 2 more days.
  • TenYear
    What is wrong with GIGM?
  • You remember GIO? He trades GIGM, I think.
    http://ibankcoin.com/gioblog/
  • SOHU at $52, I have to go long SOHU, great overnight signals too!
  • TenYear
    let me know if that RSI holds 30!
  • HD is a long at the 200 day, 24.25 need another 3% lower, to go long. Use a 3% stop
  • TenYear
    FOMC days usually rally until the news hits and is sold. Day after is usually the opposite of Fed day.
  • ERTS 17.6, has overnight long signals
  • Bush's took Clinton's $2 trillion surplus and gave it away to the rich, which hyper fed the rich, they then put the $2 trillion into High risk assets, then the collapse happened--
  • This Bush took Clinton's surplus, outcome--- Can you imagine if Bush hyper fed the military with $2 trillion? Or social programs? Or just saved it!
    I could write a whole white paper on different outcomes.
    Giving it to the RICH, doesn't work! That's 100% correct.
    Get as far away from those kinds of people as you can.
  • GLD Up ahead of FOMC, should go down on Thursday, Sell the FOMC.news
  • TenYear
    NVTL probably on Z's alerts
  • I used to follow NVTL--I'd go long in 5 days
  • TenYear
    ENER up 12% ...wowzers. shoulda bought those calls yesterday!
  • Missed ENER again.! I think your LOW trade will work now. Housing stocks staying around their 200 days too!
  • nergo
    Well ... you are correct, Zee. The first trading day of the month was up. But, today was a struggle with bulls and bears battling it out all day. choppy day. There was actually more declines than advances on the Nasdaq (8 to 7) but more advances than declines on other indices.
  • FOMC wed, Dow, 250 points, day's range? Maybe the market won't be that volatile!
  • I wonder if Pramood shorted MA earnings, opening bell-I told him MA probably trades like CVX--earnings--up slightly, then down.
  • PSA reports NOV 5th, probably goes down to $65 = 200 day
  • Traderbean, thinks SRS going up 100%
    http://www.traderbean.blogspot.com/
  • TenYear
    He will need it to so he can break even on it.
  • IWM at RSI 34, if I see IWM at RSI 30.09-approx 54, I'll have to at least try a long! use a 1% stop loss
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