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Thread: OT: Who got creamed in the market these past 2 weeks?

  1. #106

  2. #107
    Loyal Bear Cal89's Avatar
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    Quote Originally Posted by Brainsmile View Post
    With the DOW just 30 stocks, it's not always the best indicator of the overall mkt, but it works too. 11,010 or so would be comparable support in that same time range (mid / late Nov 2010).

    Watching a 3 min chart of the ES and it has been ticking up gradually, now at 1173. Can't say I'm watching though. I'm putting up a 24' x 12 patio shelter now and when I come down the ladder, I check the laptop.

    I found a Cal bottle opener to go on the center 4x6 post! And it works
    Last edited by Cal89; 08-07-2011 at 03:24 PM.
    The University of California - One of the finest universities in the world, is the oldest public university in our great state with origins dating back to 1855, and university status granted in 1868. Go Bears!

  3. #108
    Quote Originally Posted by Cal89 View Post
    With the DOW just 30 stocks, it's not always the best indicator of the overall mkt, but it works too. 11,010 or so would be comparable support in that same time range (mid / late Nov 2010).

    Watching a 3 min chart of the ES and it has been ticking up gradually, now at 1173. Can't say I'm watching though. I'm putting up a 24' x 12 patio shelter now and when I come down the ladder, I check the laptop.

    I found a Cal bottle opener to go on the center 4x6 post! And it works
    Please clarify ES?

  4. #109
    Loyal Bear Cal89's Avatar
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    Quote Originally Posted by Brainsmile View Post
    Please clarify ES?
    This is the emini futures contract for the S&P500. Not sure who your broker is, but try putting "'/ES" onto your charting program.

    I attach a 5 min chart of the ES from ToS (ThinkorSwim).
    Attached Images Attached Images
    Last edited by Cal89; 08-08-2011 at 01:04 AM.
    The University of California - One of the finest universities in the world, is the oldest public university in our great state with origins dating back to 1855, and university status granted in 1868. Go Bears!

  5. #110
    I have scottrade and that symbol didn't work. Any other suggestions?

  6. #111
    Loyal Bear Cal89's Avatar
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    I've been Googling for you, and it's possible that Scottrade does not do futures. I just checked their website, and it appears that they do not. Up to you, but ToS allows, or at least used to, a free paper account. Maybe with that you'd be able to get that info, plus you'll quickly see why it's a favorite of option traders...
    The University of California - One of the finest universities in the world, is the oldest public university in our great state with origins dating back to 1855, and university status granted in 1868. Go Bears!

  7. #112

  8. #113
    Here's where the fun begins.

  9. #114
    Time to sell that gold and buy back the innocent bystanders that have been getting killed based on fear/speculation alone. U.S. Steel at 30? Don't mind if I do!

  10. #115
    Loyal Bear Cal89's Avatar
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    Well, here we are at the next possible support level I had mentioned previously. I just added to my SPY position at 112.66. Plenty more dry powder should this thing continue down. Next stops, 104, then 100 on the SPY. Hoping the mid 112's / 113 area holds though...
    Last edited by Cal89; 08-08-2011 at 10:39 AM.
    The University of California - One of the finest universities in the world, is the oldest public university in our great state with origins dating back to 1855, and university status granted in 1868. Go Bears!

  11. #116
    Quote Originally Posted by Cal89 View Post
    Well, here we are at the next possible support level I had mentioned previously. I just added to my SPY position at 112.66. Plenty more dry powder should this thing continue down. Next stops, 104, then 100 on the SPY. Hoping the mid 112's / 113 area holds though...
    I didn't think we'd be here this fast. Did you see the market drop when the president started his speech?


    NO POLITICAL STUFF PLEASE

  12. #117
    Loyal Bear Cal89's Avatar
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    I was actually driving into work and heard part of the speech. Once in the office, I pulled-up a chart, and there we were. At this point, I like the nice push off the support. Let's see what happens from here though...

    That said, I'm making money on the SPY purchase and FCX earlier at 41 and change, by selling calls that expire this Friday, the 12th. For FCX, it's the 45 call, so it would be a quick 10% profit (41 to 45), plus the money collected on the sale of the calls...

    And if not, I'll gladly keep these and other positions until this shake-out is complete.
    The University of California - One of the finest universities in the world, is the oldest public university in our great state with origins dating back to 1855, and university status granted in 1868. Go Bears!

  13. #118
    Quote Originally Posted by Cal89 View Post
    I was actually driving into work and heard part of the speech. Once in the office, I pulled-up a chart, and there we were. At this point, I like the nice push off the support. Let's see what happens from here though...

    That said, I'm making money on the SPY purchase and FCX earlier at 41 and change, by selling calls that expire this Friday, the 12th. For FCX, it's the 45 call, so it would be a quick 10% profit (41 to 45), plus the money collected on the sale of the calls...

    And if not, I'll gladly keep these and other positions until this shake-out is complete.
    I think we'll get some last hour buying.

  14. #119
    Loyal Bear Cal89's Avatar
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    Quote Originally Posted by Brainsmile View Post
    I think we'll get some last hour buying.
    The bulls and bears will be at it, I'm sure.

    As of now, it's looking pretty good. Here's what I'd like to see when today is done to make me feel like a bottom might be in:

    1. Volume. It has been high in recent trading days, increasing day after day. I want that to continue today as well. At this point, it seems like it will be close.

    2. Bounce nicely off a resistance level. That happened, thus far (1125 for the SP500 or about 112 on the SPY).

    3. Ideally close at or near the day's highs, around 117 on the SPY.
    ++++

    If we revisit and close at the day's lows, or below, all long bets are off, for me at least.
    The University of California - One of the finest universities in the world, is the oldest public university in our great state with origins dating back to 1855, and university status granted in 1868. Go Bears!

  15. #120
    The question - Who got creamed - is past tense. I am still getting creamed today.

    Oh well, who really wants to retire early ?

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