Investors....come in please!

[JHZR2]

Originally Posted By: tpitcher
I picked up LINE at $35.40 today.



Didn't pick up more, but loving that 8% div at these levels...

 

[JHZR2]

Originally Posted By: JHZR2
Yep, my ARNA is up another 10% too, to over $11. Not bad for a stock I bought at $1.57.


ARNA got FDA approval today, first obesity drug in 13 years.

I pulled my initial investment near the price high, just holding on now. Trading is halted. Hope to see $20/share before I dump more shares.

 

[JHZR2]

I'm a bit surprised where we are at now.

Bought some oil/energy stocks last week at points I thought were good for some quick turnaround trades of 500-1000 shares.

Hit my sell points and kept going further than I thought.

Any thought on reversal in the broad market (Dow nearly 13k and s&p at 1375), and what our new low point would be? Frankly I was expecting more downside and had placed trades just on some stuff being oversold.

I can't imagine a summer rally much past these levels, do may be a good exit point for some stuff...

 

[Drew99GT]

I'm thinking, based on the technical indicators I've really tuned in, that at least the S&P may test the highs of the year before turning south again. It's now trading solidly in an upward trend channel. It's over bought in the short term though.

IBD is saying we're in a confirmed upward trend now. SPY moved past key resistance around 136 but it's got a big upward gap to fill back down at some point.

I've been watching the TLT/SPY ratio as well and it looks like it's peaked somewhat for the time being.

 

[Drew99GT]

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As you can see, the flight to long term treasuries (ie the flight to safety) has subsided for now as the 3 year resistance in that ratio has held, but of all the charts I look at, that one is the scariest I've found for the long term. It's a nasty inverse head and shoulders pattern with a positive neckline that points up up and away to long term treasuries as equities collapse in the future.

Support at the 200 MA will be tested (which coincides with SPY around 140) and if it holds, get really safe as equities will be in jeopardy.

 

[JHZR2]

Great commentary!

 

[Turk]

Rut-row.

 

[JHZR2]

Originally Posted By: tpitcher
Rut-row.

Lol... No big deal. Rising tides raise all ships. I made less that I could have on my last few trades, but are big green on a lot of stuff. So it's eyes peeled to find good exit points and then buy back in at a lower point. That's the name of the game.

 

[Turk]

Originally Posted By: JHZR2
Originally Posted By: tpitcher
Rut-row.

Lol... No big deal. Rising tides raise all ships. I made less that I could have on my last few trades, but are big green on a lot of stuff. So it's eyes peeled to find good exit points and then buy back in at a lower point. That's the name of the game.

I know.

Most all my stocks are Dividend payers, so I would just back-up-the-truck on pullbacks...

Hey, my LINE call has been doin' well, eh?

 

[Drew99GT]

I was just commenting on the over all indexes!

Some guys I read online are thinking QE 2.0 is now being priced into the market, so even if the economic data coming out later this week continues to look negative, if the market at least doesn't sell off or better yet, rallies a bit, it'll likely mean the Fed will be ready to step in to prevent equities from dropping and to keep people out of treasuries. Rally on at that point.

If that happens, I'll be getting back into metals as the hyper inflationists will be back.

 

[Turk]

You mean QE 3, right?

If things look bleak, Fed will probably step in with it after Operation Twist, prop it up for 3-4 months and let it go from there. Kinda what I'm banking on, with my little 25% in.

 

[Drew99GT]

QE 3, 4, twist, whatever they'll call it!

 

[Turk]

Originally Posted By: Drew99GT
QE 3, 4, twist, whatever they'll call it!

 

[Turk]

Lookin' like we may fall off a cliff soon. Shouldda bought the VIX this morning.

Thoughts??

 

[Drew99GT]

We're at support! We'll get a bounce I hope, and if so, it will have bounced off the bottom short term support trend line that the indexes have established. Like I said previously, there was a monster gap that needed to be filled from the 6/29 gap up.

I've been playing this market with 3x ETFs, mostly TNA, so I've been watching it like a hawk. The Russel 2000 is, in general, leading the overall market with higher highs and higher lows, which in general is a good sign.

http://www.marketwatch.com/story/stock-charts-dont-lie-the-trend-is-up-2012-07-10

 

[Warstud]

You must mean 50MA support. I like the 1300-1310 support better. The 100 day trin shows a distribution breakout occuring. The 10 day cycle bottom should arrive on the 12th.

 

[Drew99GT]

1335 SPX is definitely support as well and it's right on the bottom trend line of the trend channel that's been established, and we're right there. It's bumped off that line twice now in June with higher highs.

 

[Drew99GT]

http://carlfutia.blogspot.com/2012/07/three-peaks-domed-house-update.html

UH OH. For the long term anyways.

 

[Drew99GT]

Any of you guys ever tried day trading options during options ex week? Especially at the end of the week? You can get 500 contracts and 10 trades free from Choicetrade. Staying brutally disciplined with technical analysis, it's a money maker.

 

[JHZR2]

Not me. Just watching the charts and playing the ups and downs. Made a nice profit on a ton of shares in WFT from high 11's to $13 today. Just had an auto sell and somehow hit it at the top.

Not a lot of profit in terms of dollars per share, but playing the bumps has been pretty easy and very profitable. If I stick with my current success rate, Im talking 100% annual rate of return on the money I have in those buys.