June 13, 2009
Stock Market Add comments
Today my friend traders and I looked at a massive selloff which we have been calling for since we hit 87.50$ on the S&P or 876$ on the $SPX. The rally in the last few weeks had no consolidation and the volume dried up leading into that strong resistance, which provided a great shorting opportunity. We took quite a bit of profits today as the market sold off too quick and the bulls did not get a chance to have a go at it yet. A small bounce tomorrow is likely as we ended on strong support levels, though if broken, we do look at other potential support levels. In this video we look at SPY, XLF, GS, $RIFIN.X, my email is idan.koren@duke.edu for those who want to ask questions.
Duration : 0:6:55
June 13th, 2009 at 6:35 am
Thanks, looks like …
Thanks, looks like GS/SPY is hitting that bounce you mentioned today
June 13th, 2009 at 6:35 am
FUCKING NICE, …
ING NICE, somebody finally actually trading options correctly. (nice money size)
June 13th, 2009 at 6:35 am
I am saying …
I am saying financials are at a support level, they will bounce hard on this support level, this bounce should be shorted in the near term. This whole move lower though will probably only be consolidation for another move up. So you should be taking profits on the downside relatively quicker than to the upside. After the move up, we will continue our bear market.
June 13th, 2009 at 6:35 am
I’m confused. You …
I’m confused. You are saying it might be good to short/buy puts when SPY/GS has a slight bounce, but telling us rifin.x could have a nice bounce up soon so FAZ could be in danger. Didn’t you just contradict yourself?
Looking at the rifin.x and spy, they correlate eachother (at least in the last 6 months). So are you saying financials are due to fall or to go up?
June 13th, 2009 at 6:35 am
I was so excited …
Congrats! and enjoy your time off!
I was so excited today I didn’t hear about your 2x on the $100,000 bet
June 13th, 2009 at 6:35 am
I think long FAZ …
I think long FAZ here is better.
June 13th, 2009 at 6:35 am
anyone have any …
anyone have any ideas for some long term plays?
Me thinks slv and agriculture.
What would be the best way to do it? Sit on the stocks? Roll options?
Great Vid as usual.
which do you prefer?
Long FAZ or short FAS?
Decay is on the favor of shorting, but compounded interested on longing. If we trade sideways, then the decay just eats these leveraged ETFs to death. They will both eventually go to zero, but you all prob knew that.
So if you plan to hold for a while, you should short.
June 13th, 2009 at 6:35 am
Love the vids…. I …
Love the vids…. I can’t trade options but I had FAZ, DXD, and SMN all make me quite a bit today!!!
June 13th, 2009 at 6:35 am
I had FAZ and SPY …
I had FAZ and SPY Puts and GLD calls.. all went up in value!
June 13th, 2009 at 6:35 am
Thank you so much …
Thank you so much Idan! Made quite a bit today