Hope it is just reloading...
1/15/09
VIX - May be too early to tell
But we may have seen the lows for a while...but if it breaks that trend line we will have another crash in prices again. Keep an eye on it
Older Post
SSO hit 21.60 today and those 23 Puts that expire Friday were worth $160 at the lows today.. Sorry had to brag on that one
1/8/09
Play for Fridays report
Jan option spread on SSO or other 2X ETF 5 to 10 % out of the money puts and calls. SSO 29 calls are $30 each and 23 puts are $35 each SSO is at 26.30 here. Options expire next Friday.
Little Lotto spread.
Posted by MAX2205 at 2:31 PM
1/8/09
Play for Fridays report
Jan option spread on SSO or other 2X ETF 5 to 10 % out of the money puts and calls. SSO 29 calls are $30 each and 23 puts are $35 each SSO is at 26.30 here. Options expire next Friday.
Little Lotto spread.
Posted by MAX2205 at 2:31 PM
S&P Make up
TOP SECTORS IN S&P 500 ... While on the subject of sectors, I thought it would be helpful to rank the S&P 500 sectors according to market capitalization. Data for the table below comes from the Standard & Poor's website. Information Technology, Healthcare and Energy are the three biggest sectors in the S&P 500. The financial sector dropped to the number five spot over the last two years. Two years ago, the financial sector was the biggest sector in the S&P 500 and accounted for over 20% of the index. Chart 10 shows the performance of the Financials SPDR (XLF) and the Energy SPDR (XLE) over the last 2 ½ years. XLE is down around 17.36%, while XLF is down a whopping 65.95%. With this 2 ½ year decline, the financial sector is just below the consumer staples sector in terms of influence. In another sign of the times, notice that the consumer staples sector is bigger than the consumer discretionary sector. Chart 11 shows the performance of the Consumer Staples SPDR (XLP) and the Consumer Discretionary SPDR (XLY) over the last 2 ½ years. XLP is down less than 5%, but XLY is down over 35%.
At some point the market will diverge from the financials
like today all the market could go down was 2.2% while BAC and C were down 25% and XLF -8%
XLF is a MUCH smaller part of the SPX now BTW
XLF is a MUCH smaller part of the SPX now BTW
DOW -180 XLF hammered -8%
RSI is not confirming this low on the 60 min chart....looking for a long entry on FAS or UYG
VIX making new high over Wednesday
DOW -128...busy morning
XLF filled Nov gap -5.6% 9.90 now wow, remember when it was over 40?
XLF filled Nov gap -5.6% 9.90 now wow, remember when it was over 40?
SPX 836 breaks
If we bounce off the MACD it would be a good long play BUT XLF is where the action is today
XLF thoughts
XLF has a Gap from Nov that could be filled today around 9.80 coupled with the possible rsi TREND TEST.. watching still for a long play here BAC -16% now 8.61 XLF -2.6% 10.20
1/14/09
SPX Ranges for Thursday
No PPT today, no fire power if there was. Saving their ammo?
This is like the 4th big gap down open in the last 7 days...
?????????????????
My theory (not hope) that the Feds willl buy the market near the close is near upon us with 2 hours to go....where she stops ...nobody knows. Right now The market is holding on here by it's chiny chin chin
SPX futures are under Tuesdays lows 860 now
Gap down expected. Watching the XLF for signs of a bottom over the next few days.
1/13/09
XLF Down 11% YTD
If XLF can crash and reverse without the major markets making new lows it would bode well for the rest of the year. Some how I doubt the MARKET can survive that. XLF is a little more than 12% above it's Nov low of 9.70 ish
2x and 3x leveraged ETFs
Here are all the 2x and 3x leveraged ETFs that have a three month average daily volume of at least 500,000 shares:
Ticker ~ Last Trade ~ Fund Name ~ Daily Volume (3 month average)
BGU ~ 35.37 ~ Direxion Large Cap Bull 3X Shares ~ 6,694,620
BGZ ~ 58.93 ~ Direxion Large Cap Bear 3X Shares ~ 3,419,500
SSO ~ 25.67 ~ Ultra S&P500 ProShares ~ 87,799,900
SDS ~ 71.95 ~ UltraShort S&P500 ProShares ~ 56,465,900
DDM ~ 30.74 ~ Ultra Dow30 ProShares ~ 19,627,800
DXD ~ 55.00 ~ UltraShort Dow30 ProShares ~ 14,296,500
MVV ~ 24.45 ~ Ultra MidCap400 ProShares ~ 1,486,050
MZZ ~ 58.82 ~ UltraShort MidCap400 ProShares ~ 1,152,700
TNA ~ 31.50 ~ Direxion Small Cap Bull 3X Shares ~ 5,726,540
TZA ~ 51.25 ~ Direxion Small Cap Bear 3X Shares ~ 2,372,190
UWM ~ 18.88 ~ Ultra Russell2000 ProShares ~ 6,771,990
TWM ~ 65.88 ~ UltraShort Russell2000 ProShares ~ 7,357,440
QLD ~ 27.52 ~ Ultra QQQ ProShares ~ 42,563,100
QID ~ 55.29 ~ UltraShort QQQ ProShares ~ 35,581,600
UYM ~ 15.00 ~ Ultra Basic Materials ProShares ~ 8,571,770
SMN ~ 35.52 ~ UltraShort Basic Materials ProShares ~ 3,655,880
ERX ~ 39.57 ~ Direxion Energy Bull 3X Shares ~ 1,300,620
ERY ~ 35.32 ~ Direxion Energy Bear 3X Shares ~ 650,900
UYG ~ 5.19 ~ Ultra Financials ProShares ~ 128,241,000
SKF ~ 118.46 ~ UltraShort Financials ProShares ~ 22,842,700
FAS ~ 20.47 ~ Direxion Financial Bull 3X Shares ~ 7,015,540
FAZ ~ 41.65 ~ Direxion Financial Bear 3X Shares ~ 3,268,320
URE ~ 5.34 ~ Ultra Real Estate ProShares ~ 11,683,400
SRS ~ 58.36 ~ UltraShort Real Estate ProShares ~ 10,848,400
DGP ~ 17.13 ~ PowerShares DB Gold Double Long ETN ~ 1,926,780
DZZ ~ 26.26 ~ PowerShares DB Gold Double Short ETN ~ 616,314
DIG ~ 29.52 ~ Ultra Oil & Gas ProShares ~ 21,716,800
DUG ~ 24.16 ~ UltraShort Oil & Gas ProShares ~ 19,399,000
DXO ~ 2.98 ~ PowerShares DB Crude Oil Dble Long ETN ~ 13,876,000
UCO ~ 12.95 ~ Ultra DJ-AIG Crude Oil ProShares ~ 1,309,540
EEV ~ 51.77 ~ UltraShort MSCI Emerging Mrkts ProShares ~ 3,903,820
FXP ~ 37.75 ~ UltraShort FTSE/Xinhua China 25 ProShare ~ 3,018,600
If you daytrade, there’s little reason to watch anything besides these 30-some ETFs.
Ticker ~ Last Trade ~ Fund Name ~ Daily Volume (3 month average)
BGU ~ 35.37 ~ Direxion Large Cap Bull 3X Shares ~ 6,694,620
BGZ ~ 58.93 ~ Direxion Large Cap Bear 3X Shares ~ 3,419,500
SSO ~ 25.67 ~ Ultra S&P500 ProShares ~ 87,799,900
SDS ~ 71.95 ~ UltraShort S&P500 ProShares ~ 56,465,900
DDM ~ 30.74 ~ Ultra Dow30 ProShares ~ 19,627,800
DXD ~ 55.00 ~ UltraShort Dow30 ProShares ~ 14,296,500
MVV ~ 24.45 ~ Ultra MidCap400 ProShares ~ 1,486,050
MZZ ~ 58.82 ~ UltraShort MidCap400 ProShares ~ 1,152,700
TNA ~ 31.50 ~ Direxion Small Cap Bull 3X Shares ~ 5,726,540
TZA ~ 51.25 ~ Direxion Small Cap Bear 3X Shares ~ 2,372,190
UWM ~ 18.88 ~ Ultra Russell2000 ProShares ~ 6,771,990
TWM ~ 65.88 ~ UltraShort Russell2000 ProShares ~ 7,357,440
QLD ~ 27.52 ~ Ultra QQQ ProShares ~ 42,563,100
QID ~ 55.29 ~ UltraShort QQQ ProShares ~ 35,581,600
UYM ~ 15.00 ~ Ultra Basic Materials ProShares ~ 8,571,770
SMN ~ 35.52 ~ UltraShort Basic Materials ProShares ~ 3,655,880
ERX ~ 39.57 ~ Direxion Energy Bull 3X Shares ~ 1,300,620
ERY ~ 35.32 ~ Direxion Energy Bear 3X Shares ~ 650,900
UYG ~ 5.19 ~ Ultra Financials ProShares ~ 128,241,000
SKF ~ 118.46 ~ UltraShort Financials ProShares ~ 22,842,700
FAS ~ 20.47 ~ Direxion Financial Bull 3X Shares ~ 7,015,540
FAZ ~ 41.65 ~ Direxion Financial Bear 3X Shares ~ 3,268,320
URE ~ 5.34 ~ Ultra Real Estate ProShares ~ 11,683,400
SRS ~ 58.36 ~ UltraShort Real Estate ProShares ~ 10,848,400
DGP ~ 17.13 ~ PowerShares DB Gold Double Long ETN ~ 1,926,780
DZZ ~ 26.26 ~ PowerShares DB Gold Double Short ETN ~ 616,314
DIG ~ 29.52 ~ Ultra Oil & Gas ProShares ~ 21,716,800
DUG ~ 24.16 ~ UltraShort Oil & Gas ProShares ~ 19,399,000
DXO ~ 2.98 ~ PowerShares DB Crude Oil Dble Long ETN ~ 13,876,000
UCO ~ 12.95 ~ Ultra DJ-AIG Crude Oil ProShares ~ 1,309,540
EEV ~ 51.77 ~ UltraShort MSCI Emerging Mrkts ProShares ~ 3,903,820
FXP ~ 37.75 ~ UltraShort FTSE/Xinhua China 25 ProShare ~ 3,018,600
If you daytrade, there’s little reason to watch anything besides these 30-some ETFs.
Bernanke Hints Banks, Economy In Much Worse Shape Than Previously Admitted
At the Stamp Lecture, London School of Economics, London, England, Bernanke Urges ‘Strong Measures’ to Stabilize Banks
Federal Reserve Chairman Ben S. Bernanke warned that a fiscal stimulus won’t be enough to spur an economic recovery and that the government may need to buy or guarantee banks’ tainted assets to revive growth.
“Fiscal actions are unlikely to promote a lasting recovery unless they are accompanied by strong measures to further stabilize and strengthen the financial system,” Bernanke said in a speech today at the London School of Economics. “More capital injections and guarantees may become necessary to ensure stability and the normalization of credit markets.”
My Translation: "Banks are in much worse shape than we have admitted previously. More taxpayer money is needed to prop up these failing banks."
READ THE REST
http://globaleconomicanalysis.blogspot.com/2009/01/bernanke-admits-banks-economy-in-much.html
Federal Reserve Chairman Ben S. Bernanke warned that a fiscal stimulus won’t be enough to spur an economic recovery and that the government may need to buy or guarantee banks’ tainted assets to revive growth.
“Fiscal actions are unlikely to promote a lasting recovery unless they are accompanied by strong measures to further stabilize and strengthen the financial system,” Bernanke said in a speech today at the London School of Economics. “More capital injections and guarantees may become necessary to ensure stability and the normalization of credit markets.”
My Translation: "Banks are in much worse shape than we have admitted previously. More taxpayer money is needed to prop up these failing banks."
READ THE REST
http://globaleconomicanalysis.blogspot.com/2009/01/bernanke-admits-banks-economy-in-much.html
SPX Ranges for Wednesday
Closed at the upper trend line... could gap higher on the open but who knows at this point....just the fact that we got that headfake at the cloes to settle below the trendline makes me think it could gap higher. The Daily is still toppy and I do suspect we try to fill that 937 gap down sooner than later.
30 Min to go
Another uptrend line in place with a 872 downtrend above
Option Exp Friday, probably just sucking option premiums the last two days
SPX near the top of the 6 day trading range
Maybe too tired to breakout... Low end is below 860 876 now
SPX 10 AM
Some Fed speak this morning, BAC and C down over 5%. SPX trying to get a bottom in but still inside trend lines here
1/12/09
SPX 3 PM
Should firm up here into the close, however the XLF is very weak here and could drag the whole market down...watching both
SPX at 11 AM
Can it hold the lower trend line...it's oversold enough but VIX warning signal is working and the 60 min SPX has clearly broken the uptrend line from the 741 low. Also the Financials are breaking down; look for a test of those lows FAS FAZ are the 3x ETF there.
Also Oil is going to retest recent lows, need to watch for a trade XLE 47 is well above 39 - 41 lows but could catch up ERY ERX are the 3x there
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