pacecar02 said:

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its up another 4 points after hours 2710.50

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After a breakout what we can expect is a series of day over day squeezes higher - never giving shorts a clean exit. Anyone short after that signal has no business trading short.

It's true that this pattern could easily get "Wrecked" by the crazed atmosphere but without such an event driven move this continues to resistance IMO

Anyone worried about downtrend channel resistance coming into play at 273-274? Want to believe in this move up but won't feel confident until we power through that

Ranger222 said:

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Anyone worried about downtrend channel resistance coming into play at 273-274? Want to believe in this move up but won't feel confident until we power through that

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I think it's very much in play. OA knows a hell of a lot more than me about the markets, but that's a wedge IMO.



Resistance in about 50 points on the S&P.

I'm long until then, but I'm not buying it either.

SoupNazi2001 said:

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SoupNazi2001 said:

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Short SPX 2700 for a trade

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If the gap up holds this morning I will exit for a loss.

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Morgan Stanley crushed earnings. Haven't seen any "sell the news" on these expected beating the street earnings.

futures were weak.

SoupNazi2001 said:

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SoupNazi2001 said:

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Short SPX 2700 for a trade

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If the gap up holds this morning I will exit for a loss.

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VIX is up 7% already

edit 10% at 8:45

PSX and COP are killing it. Sold half of my PSX this morning at 109

FriscoKid said:

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futures were weak.

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It's a TARP!

oldarmy1 said:

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FriscoKid said:

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futures were weak.

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It's a TARP!

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maybe so. I took a small short position though.

IBM is trying to help your short cause.

Hey, I'm not saying it's long term at all. But, I think we give some back today. And, I'll take it.

AMAT brought down 5% due to LRCX.

I believe this is an overreaction and should see it rebound

FriscoKid said:

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Hey, I'm not saying it's long term at all. But, I think we give some back today. And, I'll take it.

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I hear ya. On average the odds are we have some red to suck in short sellers and then markets shake off negative news to creep higher. I wouldn't be surprised to see the death by a thousand creep move upward on trend.

That then will meet major resistance (or some crazed news event) and that's when it gets real.

SN leaving the station.

Need SWN to break that dang $4.60 resistance.

CHK still in a consolidation mode.

I couldn't help but notice those Lulu calls are finally moving in the right direction

Big call buyer in SN $5 calls expiring May 18. Vol = 3000. Sitting at 0.08 currently. That one of you here?

Ranger222 said:

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Big call buyer in SN $5 calls expiring May 18. Vol = 3000. Sitting at 0.08 currently. That one of you here?

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That IV is sky high....I'd be concerned about getting IV crushed. But at least the options are affordable?

SQ just broke upper resistance

Thoughts on JD here at 39.90?

I'm on the fence about selling mine. I don't want to miss an opportunity to sell but also saw an article about the Elliot Wave which I found interesting.

I'm not sure if any technical traders can shed some insight on the Elliot Wave but the article claims we are still in the aggressive phase 3 and could be heading towards $115. Never get pissed at taking gains though... There is more downside to the stock than upside in my opinion in the shorter term.

SDRL popped big. OMG I am finally in the green after 5 years of cost averaging down to $0.27 cost basis.

0708aggie said:

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Thoughts on JD here at 39.90?

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Your major support downside is the $36 area.

As outlined on another post if there is a stock I'm considering owning I am bold in selling naked Puts. If it rises you make the premium. If it drops you enter the stock where you were going to buy it anyways and offset some of the drop with that premium.

(I didn't do a very good job describing the trade - corrected) I sold naked Puts of the May 5 JD $36 Strikes for $1.20 a few days ago. If I end up buying the shares for $36 that's where I wanted them anyways. If it stays above that then I pocket $1200 for every 10 option contracts.

Ranger222 said:

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Big call buyer in SN $5 calls expiring May 18. Vol = 3000. Sitting at 0.08 currently. That one of you here?

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Well I will tell you that while it wasn't me buying it was me selling covered calls against a bunch of extra shares I accumulated. All part of the strategy.

0708aggie said:

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PSX and COP are killing it. Sold half of my PSX this morning at 109

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Would hold COP. Have a May 18 $70 Strike Call doing great and am holding.

SWN going for the longest handle on the cup and handle in history. Break out already!

SWN...approaching take off

anyone playing TWTR into earnings next week?

it popped above 4.65 and now is back under... is that normal before it goes up or does that mean the resistance point is more like 4.68-4.70?

AVEO and general buyout question... let's say AVEO is bought out and valued at $7.00 a share... if you own the shares at the current price, you will do great, but how do you accumulate that money?

Does the stock automatically go to $7.00 a share? Does is rise rapidly and you just have to watch it in order to cash out with your gains? Can the stock go above the my hypothetical $7.00 price and you make more?

Depends how the buyout terms go.

Some give 7 dollars worth of shares of the new company..

Some cash you out.

what say you said:

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it popped above 4.65 and now is back under... is that normal before it goes up or does that mean the resistance point is more like 4.68-4.70?

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Resistance can be exact or have flashes moving it a few cents either side. The key is the complete technical showing a bullish breakout is highest likely next move. That said, 10's of thousand of market watchers alarms have gone off so thats why they call the break of $4.65 the "signal". I expect it to make a move its next move soon.

oldarmy1 said:

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IrishTxAggie said:

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$NVCN

One to keep an eye on. It's a "penny stock", but it hit its floor at about $0.035 last week and it just broke through a resistance with attitude after a warrant exercise. Their bread and butter is a product called Tiara which is a transcatheter device designed to treat mitral regurgitation (MR).

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I haven't traded penny stocks in years. The recent volume is either the last of the Mohicans getting out before it stops trading or there is going to be a pop. Super high risk. Also, these will usually do some kind of a reverse split to save them from pink sheet status.

If you think they have a great product, with little competition and the resources to survive then hope its about to jump. Hey - if it just fills the last gap down at a dime you could sell half and get your money back.

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Hey Irish - I threw your NVCN on my back channel watch for grins. Signal wave back to $.07 went off so there is that..