Index chatter...

[Carl Icahn]

Originally Posted by cire2222

you think we would rally on a quarter point cut? I think thats whats being priced in now.

No i dont know what the reaction will be, just i would love for it to rally...everybody thinks exactly that cire..yesterday i saw the whole panel on fast money calling a fed selloff, so i just thought a possible situation would be selloff then shortcovering pop, which i would love to enter ideal shorts. Theres no doubt the market is bearish going into May.

[cire2222]

Originally Posted by Carl Icahn

No i dont know what the reaction will be, just i would love for it to rally...everybody thinks exactly that cire..yesterday i saw the whole panel on fast money calling a fed selloff, so i just thought a possible situation would be selloff then shortcovering pop, which i would love to enter ideal shorts. Theres no doubt the market is bearish going into May.

I have actually taken that trade b4, When everyone expected a reaction you wait for the market to give them that reaction then fade it, make $ on the scramble to get out

[Carl Icahn]

Originally Posted by cire2222

I have actually taken that trade b4, When everyone expected a reaction you wait for the market to give them that reaction then fade it, make $ on the scramble to get out

Yeah i know i fade the morning gaps sometimes, works like a charm, but you have to judge the speed of the gap and entry.

But overall you never know whats gonna happen for sure, just got to have plan A,B,C,D..so you can react and move quick. For the longest time i always thought the people who make the most money already know whats gonna happen, nope they just know what can happen

[cire2222]

Originally Posted by Carl Icahn

Yeah i know i fade the morning gaps sometimes, works like a charm, but you have to judge the speed of the gap and entry.

But overall you never know whats gonna happen for sure, just got to have plan A,B,C,D..so you can react and move quick. For the longest time i always thought the people who make the most money already know whats gonna happen, nope they just know what can happen

I was talking about a FED annoucement reaction

[Carl Icahn]

Originally Posted by cire2222

I was talking about a FED annoucement reaction

I know i was just using that as an example

[Carl Icahn]

Well we didnt get the upside move i was looking for to shakeout the bears too much was baked in, i still pickd up some puts (in the gap zones)but very little compared to what i wanted. Dollar plays had a bounce today. I suspect there is still one push coming in the indexes as i bet all the bears getn giddy n jumpd on today could even come as soon as tomm, market looks tired maybe the last exhaustion move. But i remain ready with a lot of bullets.

[Carl Icahn]

Originally Posted by Carl Icahn

Well we didnt get the upside move i was looking for to shakeout the bears too much was baked in, i still pickd up some puts (in the gap zones)but very little compared to what i wanted. Dollar plays had a bounce today. I suspect there is still one push coming in the indexes as i bet all the bears getn giddy n jumpd on today could even come as soon as tomm, market looks tired maybe the last exhaustion move. But i remain ready with a lot of bullets.

Sometimes I wonder why people even use fundamentals????...well 75% of those bullets got loaded today, we'll see if i got any aim

[Carl Icahn]

Originally Posted by Carl Icahn

If the U.S. markets are putting in the so called bottom then China might have done so as well after taking a huge hit so far this year. There no such thing as decoupling we are a global economy and we move as one in the markets as well.

Couple charts..the article has the list of all the major china stocks
http://seekingalpha.com/article/70913-china-stocks-still-no-sign-of-a-bottom

Hopefully you caught some of this...id be taking some gains if you did some of these China plays are up huge...look at SOHU for example

[DJ South]

Lately it seems I have been "calling" the direction of the market pretty well. I really do believe it is because I have come to learn the P&F methodology so well as my prime TA. So... for the DJIA and SP500, lets see what we got.





Both of these have had some good runs very recently. I wouldnt be surprised to see them retrace a bit (if DJIA follows the trend it should drop to 12850-12900). A big bull sign/break for the SP500 will be hitting 1430. Will it do this soon? maybe. But I would like to see it retrace before making a run for it again.

As far as being "long term" in this market, I am bullish and have been for a while. Wait for the bullish support line to be broken before thinking about switching your mentality to bear.

[MC]

Originally Posted by DJ South

But I would like to see it retrace before making a run for it again.

As far as being "long term" in this market, I am bullish and have been for a while. Wait for the bullish support line to be broken before thinking about switching your mentality to bear.

Same here, though it's amazed me how quickly it smashed through resistance.
I really would feel great on a pullback test of either structure resistance or the down trendline that has been broken.

Keep up the nice P&F, I'm learning alot from them.