etftalk's Account

[Gumby]

Heck, I thought it was going happen this week, so this strength has me a little confused. But yes, I think next week we finally head down again. Whether that is to new lows or to test the lows, I don't know - I actually hope the test holds so I can finally get bullish.

I agree. I don't understand the strength of this rally. All the government intervention and hype sure pumped the market up. It is almost like people are taking the word of the government that the recession is over. I just can't wait until earning come out....that should be a real eye opener. But then again it seems as if some days bad news causes a rally.
Good luck.

I am still heavy short on financials and have hedges with a few stocks and have cash earning nothing. I intend to remain a bear until soundly proven wrong.

[Gumby]

Heck, I thought it was going happen this week, so this strength has me a little confused. But yes, I think next week we finally head down again. Whether that is to new lows or to test the lows, I don't know - I actually hope the test holds so I can finally get bullish.

Gapped down below 800 this am. Great call!
Where do you see a pause on the downside?

I think we drop 5% on S&P today. Do I hear -700 on the DJIA?

[etftalk]

I heard someone say a 50% retracement would be at the 750 area, but that assumes you are a bull and we are in a new uptrend.

I would like to see a test of the lows, 667 and then deal with that pass / fail situation. I would feel better about getting bullish with a successful test.

[Gumby]

I heard someone say a 50% retracement would be at the 750 area, but that assumes you are a bull and we are in a new uptrend.

I would like to see a test of the lows, 667 and then deal with that pass / fail situation. I would feel better about getting bullish with a successful test.

It will be interesting to see what the P/E ratio of earnings on the S&P after the first quarter earnings comes in at.
GM & Chrysler is just the beginning. The uptrend sure feels like a powerful bear market rally to me. Time will tell.

[etftalk]

Short BGU (3x bull) @ 25.49

Covered BGU short position @ 21.50.

I'm still heavily short the marekt with longs in FAZ and BGZ (both 3X short position) so I'm just taking a little off the table.

[etftalk]

Bought BGZ (3 X bear) @ 58.25

My trailing stop was hit. Sold BGZ 62.50.

I still like the position, but I didn't want it to get away from me like FAZ did. Still holding FAZ.

[etftalk]

Sold short BGU (3 X bull) @ 23.07

[etftalk]

Sold short BGU (3 X bull) @ 23.07

I bought to cover BGU @ 23.37 for a small loss. The market is not budging and may want to fill yesterday's gap.

[etftalk]

Sold short BGU (3 x bull) @ 22.93

Using this morning rally off the lows to go for it again.

Buy stop set initially to 24.05.

[etftalk]

Sold short BGU (3 x bull) @ 22.93

Using this morning rally off the lows to go for it again.

Buy stop set initially to 24.05.

Ho hum... stopped out again.