johnpaulca
12,036 posts
msg #60251
- Ignore johnpaulca |
3/6/2008 1:44:07 PM
Niko..got gunned down just after posting....I riding GOOG down, I am up over 2% today, it took me for 2.4% earlier this week. I will pick up some RIG today and get out tomorrow. I had two great trade yesterday in KMP and FDG, loaded up the truck on them. Started a position on CEDC, I've made good money on this stock.
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johnpaulca
12,036 posts
msg #60253
- Ignore johnpaulca |
3/6/2008 3:51:10 PM
We should get some relief tomorrow...according to my tea leaves. VIX broke above my upper BBands it will most likely test that band for support...it's a great day to buy.
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EWZuber
1,373 posts
msg #60262
- Ignore EWZuber |
3/7/2008 5:57:06 AM
john, I agree. As soon as the 25 DMA for JAS was violated that left the next support at the 50 DMA at $13 and change.
I held the stock, played a little bounce which helped cushon the blow but used up a day trade in the process.
A long position in AKNS and SOLF that I bought two days ago helped too.
RIG, when it closed above the 50 DMA the odds were in favor of a move higher.
I didn't buy any RIG it's way too expensive for me also I don't trade oil stocks.
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EWZuber
1,373 posts
msg #60263
- Ignore EWZuber |
3/7/2008 6:03:01 AM
VIX looks like it could go as high as 28, I suspect that would bring on some relief, IMO. Seems likely it won't hold long though with Weekly and Daily Charts in distribution.
COMP Hourly Chart is very oversold. VIX at 28 would probably bury the stochastic oscillator and W%R.
Longer term Daily and Weekly Index charts looking very bearish.
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nikoschopen
2,824 posts
msg #60264
- Ignore nikoschopen |
3/7/2008 9:00:53 AM
The worse-than-expected jobs number sent the futures market plunging in the aftermath. Now seems to be stabilizing ahead of the opening of the stock market.
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nikoschopen
2,824 posts
msg #60265
- Ignore nikoschopen |
3/7/2008 9:11:56 AM
For VIX, have you noticed that it's registering a ascending triangle on the 2-year chart? It's anybody's guess hat would happen once it breaks out, but it sure ain't gonna look pretty.
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nikoschopen
2,824 posts
msg #60267
- Ignore nikoschopen |
3/7/2008 10:05:46 AM
I'm getting a strong urge to sell this morning rally on bad jobs number. Go figure!
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EWZuber
1,373 posts
msg #60270
- Ignore EWZuber |
3/7/2008 10:33:44 AM
Market charts look really bad. VIX is in accumulation phases (or positive half of the cycle) in M/W/D charts with the Weekly Chart just beginning a new positive half of the cycle.
VIX is going much higher LT.
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EWZuber
1,373 posts
msg #60271
- Ignore EWZuber |
3/7/2008 10:36:09 AM
VIX hit 28.50 this morning and that was a ST top. Its coming down to test it's 10 HR.MA as support this should be interesting.
JAS about break even now.
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EWZuber
1,373 posts
msg #60272
- Ignore EWZuber
modified |
3/7/2008 10:45:20 AM
Closed JAS at 14.74. Average was 14.72. Looked like some resistance at 14.75 so called it good.
Got a better price than I thought. Actaually made a couple bucks on it.
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