Comments on: Thursday Morning Roadmap

By: BigIslandLife

BigIslandLife — Fri, 06 Nov 2009 17:22:23 +0000

SJ, glad you guys got to see it make sure anna gets a link for it her car is the bomb LOL

By: pramood

pramood — Fri, 06 Nov 2009 08:32:38 +0000

Thanks. Time to go back to bed. Had to wake up at 3 AM to do an emergency which we just finished

By: annamall

annamall — Fri, 06 Nov 2009 08:30:40 +0000

Poor baby! Congrats on HANS last night sweetie )

By: pramood

pramood — Fri, 06 Nov 2009 08:28:42 +0000

GM Anna,

I am on call tonight

By: annamall

annamall — Fri, 06 Nov 2009 08:28:06 +0000

**********NEW POST **************
""""""""""""""""""" """""""""""""""""""
""""""""""""""""""" """""""""""""""""""

By: annamall

annamall — Fri, 06 Nov 2009 08:26:32 +0000

Please repost on new thread Humble Pie ))

By: annamall

annamall — Fri, 06 Nov 2009 08:26:05 +0000

Hi Mac, that's an understatement as you can see I am up at 4:30am putting up the new post LOL
sorry to do this but could you repost, I just added Jack's new post and I don't want your post to get lost in here )))

By: humble1 (tm)

humble1 (tm) — Fri, 06 Nov 2009 08:22:20 +0000

buried far below the grousing CNBC headlines we find what the world really thinks of the USA:

http://www.cnbc.com/id/33707678

By: TheMacroEconomist

TheMacroEconomist — Fri, 06 Nov 2009 08:05:46 +0000

Hi Anna, great to see that HOB has been doing well while I've been on vacation!

In fact I was actively trading while away (because I'm nutty!) but only oil, with equity positions held as is. Spot-on support/resistance technicals and relatively straightforward dollar action made oil easy to trade around the weekly inventory reports. I avoided anything new with equity indexes given their continued sloppy wide range-bound trade: Hit the bathroom at the wrong time, a seemingly good trendline does a sudden Houdini vanishing act and whamo, you miss a 10-point move in the S&P.

Anyway! Today the S&P futures rallied right up to 1064 resistance and stopped, Russell 2000 jumped >3% to its 580 resistance area. Maybe it's the start of cleaner technicals. What struck me was the low volume buying as if sellers took the day off. This alone would argue Friday for yet another reversal, of Thursday's reversal of Wednesday afternoon's reversal. (Doesn't that sound silly!) On that basis I went net 15% short at the close. BUT…

Friday's BLS report is likely to have sticking power, as it's the last economic report out until Thursday the 12th. Consensus for Nonfarm Payrolls is 175,000. If it's that or less I'll be closing shorts in anticipation of a retest of mid-October's market highs. BLS seldom disappoints. But if Nonfarm Payrolls come in well over 200,000 like last month, the market will be back in the trading range for sure. Wednesday afternoon's lows probably hold then but if not, there's a gap at 1009.75 in the futures trade to fill…

By: pramood

pramood — Fri, 06 Nov 2009 07:58:59 +0000

Hi Pedro,

The reason I do NOT do way OTM put spread is say if PCLN drops less than 10% after earnings, you will lose a lot of money with 150/135 than 165/145. Assuming it drops only 5%, the 165 will not lose as much premium as 150. Did you see how the MM's killed the premiums on ISRG after earnings? I would do 160/145 instead. JMHO