Right when Obama is proposing his good intentioned ways to stop bubbles, the market is being manipulated right under his nose, just like it was for hundreds of years. free market style.
BNI was a disaster. Right when I short it, of courst IYT has to have one of its best days ever. why not.
GSIC followed the indices, didn't work either. Maybe I was impatient, or just wanted to stop this loss while it was a minor scratch and not a big bloody mess.
SE was a failed energy trade that also turned from bear to bull.... sigh.
OLN is still working because it's still under 15.50 despite this huge stretch upward in the indices. added more yesterday.
PCLN spiked up. A LOT. then it retraced the whole move and spiked up even more. It was a bull on steroids waiting to explode. I didn't have the stamina to ride this bull to my target since I held a bearish view on the indices and expected more downside. Sold too early.
Now PCLN is sitting right on a big resistance level. If the indices tank, PCLN could break the green diagonal and return to late '08 lows as support level, if we continue to drag on and on upward, PCLN will break out and soon won't be in the double digits very long.
QQQQ's are overbought... but only market makers decide when it rolls.
88% of nasdaq stocks are over their 50D MA's, McClellan is right where it was in January top, new highs divided by new lows indicator is at its highest level since the top of '07.
I sold QQQQ 32 calls all the way up since Wednesday. I'll wait for the next dip. If there's no conviction to the bearish case I will take my loss here as well.
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