The Official Trading Thread

Yes, agree.. good numbers would be the shock I was on about.. however, I think upside could be limited, if the markets turn from around here.. I follow Treasury notes and bonds futures closely, amongst other things. Very rarely do you see them gap in the reverse direction from a low, without continuing over the coming months. Both notes and bonds gapped up from Friday. If they head towards some resistance areas of 2012, 2011 levels, we may see a well overdue correction in stocks before the santa rally.

I will tell you this much, I have been waiting for the correction in the equity market since the beginning of May, and it has cost me some trades here and there. It has always been looming over my head whenever I considered a position that might take a few weeks to a few months to materialize. I obviously decided against it, just because things seemed like they should correct. Low and behold..this week we just set in new all time highs.

Tomorrow we will hear from the Federal Reserve about tapering. The reaction that followed the past few Fed meetings was a lot of selling. My opinion? The markets overshot this week on the positive side, and are setting themselves up for a hefty sell off for the rest of the week if tapering becomes a reality tomorrow. There are some traders that take the stance in saying that the markets have already priced in tapering, and that it is not a surprise anymore. It has been a topic covered for the better part of 2013 so if it does begin, the downside is limited...but I beg to differ. Has the economy improved so fiercely that even with tapering being priced in, we are sitting at the all time highs? I say no, but if you follow the money, money has been flowing right back into the markets for the past month.

Anyhow, Q4 will be a very violate and interesting quarter for the markets.
 


I agree with your view.. nice analysis. I've been trading for the best part of 2 decades. I've seen a few market cycles play out in full, and recognize that this market isn't over until all the DUMB money is back into stocks. There's still plenty money to come in imo.. so even if we correct for a while, we may not have seen the "top"..

But I gave up trading what I think many years ago. That's the quick way to the poor house.. so I guess none of that matters to me ha.
 
Put together a video to reillterate my market view and possible setups for Facebook, Tesla, Netflix and Google.

[ame="http://www.youtube.com/watch?v=6oiEK23pUyA&feature=c4-overview&list=UUDx_BHg6blLqXxfFkkiPRog"]Sept 17: Market hates iPhone 5C? Analyzing NFLX/FB/TSLA - YouTube[/ame]
 
Crazy! The one thing many investors were not expecting was for the Federal Reserve to come out and say they are placing quantitative easing tapering on hold! It has been spoken for months and months that tapering will begin around September but now all of a sudden they decided against it. S&P is currently up 0.91% but this rally is only the beginning. This is major news that the Federal Reserve has become indecisive once again.
 
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:love-smiley-086::love-smiley-086::love-smiley-086:
 
Good stuff. What is your expiration date? This week weeklies, specifically the $6.50 strike are up 400% today - bam.

This week $6.00 strike. Flipped 1/3 of my gains from a $3.6X entry long position into calls on Sept 5th.

The acquisition of their handset division by MSFT and the Norwegian CB meeting tomorrow are creating the perfect storm.
 
Review of today's action and levels to look out for, for your next entries on Google, Netflix, Amazon, Facebook and Apple.

[ame=http://www.youtube.com/watch?v=OxIz6nCSSKc]Sept 18: NO QE TAPERING! Google & Facebook setups! - YouTube[/ame]
 
If Apple can move above $475 today, then be prepared for a big pop. Tesla has had a great move higher today so far. If you have been following my charts, you should have grabbed $9 of this run since we broke above the $170.85 level that I have been speaking about in my videos.