Initials claims higher than expected... that will hurt the bull bounce case today
8 hours ago
Thursday, October 22, 2009
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About Me
- The Honest Trader
- I have been trading stocks since I was 15 years old. Everything I know about trading is from watching the tape for 1000's of hours and reading trading / investing books and online information. Everything I have learned trading has come from "real life" trading experiences. Meaning, I am a homegrown trader with no formal training. I started with $1,500 in an online account and have now grown that to a considerable sum through the years (paid a lot of tax too). I used to trade like an idiot and had no idea what I was doing. I lost money, made money, got lucky and eventually started to "get it". I have been high and I have been low - but I am still standing.
btw only 531k new unemployment claims this week
ReplyDeleteone note i would make on the big US multi-nationals beating estimates... remember with the dollar drop we have had it is not surprising to see nominal beats in dollars...
ReplyDeleteI wonder what the results would look like if the dollar had been steady... someone should do that math
could this be a little early squeezing to clean out the weak shorts grab some more late longs for a flush later today - that would fit the script
ReplyDelete2 strong stock to radar - GS and AAPL
ReplyDeleteif these two get faded later today the market will crater
longs hanging tough
ReplyDeleteaapl getting faded but financials still holding us up
ReplyDeletei think GS is your market tell today
energy also strong
ReplyDeletelongs trying to get the squeeze going - it may succeed
ReplyDeletei am surprised here but sticking with shorts with stops at yesterday's highs
if yesterday didn't happen i would think we are setting up for a squeeze into the close - the 3-4 hour will again be telling
ReplyDeletewell buyer trying to force a squeeze they will either win and run the market up or fail and we could have a last hour like yesterday
ReplyDeletefeels like buyers have the edge but if they can get the Nasdaq going they could be in business
bulls pushing us higher - looks like they are going to try to make sure we don't get confirmation to sell/get short
ReplyDeletei am surprised but not that surprised as the bull parade the last few months has conditioned us for nonstop buying
and now you have a lot of shorts on board from yesterday so the bulls fought threw today and now will certainly squeeze all the shorts out
still hanging in as I had a great entry yesterday but less enthusiastic about the move down now as longs again have the upper hand
time to tear the shorts up
ReplyDeletecheers to the bulls - stronger than i thought, let's see how they close it
ReplyDeletemsft reports tomorrow - should beat
wow - almost at my stops
ReplyDeletef that - what i made yesterday will be all taken away as the bulls look to get nutty again
this move caught a lot of shorts - bulls will gain confidence from today
ReplyDeletesurprising strength from the financials - almost as if someone knows something
like a government policy is about to be announced
that said we didn't take out yesterday's highs yet so I am still in my positions but with not much breathing room
earnings blowouts across the board after hours
ReplyDeleteAMZN, COF, AXP...
bulls will get silly tomorrow i bet... i bet my shorts gets taken out tomorrow after MSFT reports