Posts Tagged ‘QQQQ’

Wednesday – Stimulus Rumors Trump the APPLocalypse – For Now

AAPL missed!

Fortunately, we were well-prepared for this eventuality as I had said way back on July 10th, in Member Chat, that AAPL was "too big to succeed" (commentary also featured in Stock World Weekly on the 15th).  I also said, at the time regarding AAPL: "Where was my buy point – $555? That's a long way down to support if they fail $600."  We had called for taking the bullish AAPL money and running the previous Thursday (July 5th) in my morning Alert to Members, as they topped out that morning at about $610.  We were a bit early with that call (AAPL hit $619.87 the next week) but, on the whole, our bearish flip on AAPL (and the broader market) has served us well.  

In yesterday's Member Chat, we had one bearish earnings spread on AAPL as well as an aggressive play on SQQQ, the Nasdaq ultra-short, because we expected the Nasdaq to fail along with AAPL (and AMZN is next!) on their earnings.  Our SQQQ trade grabbed the Sept $50/60 bull call spread, offset by short puts on some stocks we are accumulating for our Income Portfolio for a net free trade but our dreams of a big pay-off on the spread will be put on hold today as a sudden burst of stimulus talk has turned the indexes back up, with the Dow now 200 points off the bottom in the Futures (7:50) at 12,660.  

SPY 5 MINUTEI already sent out an Alert to our Members this morning, pointing out what manipulated BS this was as the WSJ's Jon Hilsenrath issued what amounted to nothing more than some well-timed speculation on imminent Fed action into yesterday's close that has been picked up by the MSM as a fact and popped the Dow a full 100 points into yesterday's close – erasing 1/2 of a disastrous day in minutes (see Dave Fry's SPY chart).  At the moment (7:54), the Dow Futures (/YM) make an excellent short below the 12,650 line so excuse me while I hit "publish" on this partial post so our Members can see it.

Anyway, so where was I?  Oh yes, market manipulation by Uncle Rupert and the WSJ is not unexpected with NWS reorganizing and looking for good valuations on the company split.  I pointed out to Members seven other articles in which
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Wishful Wednesday – If Only We Could Hold It

That didn’t take long did it? 

We’re right back to our 5% lines, which I predicted yesterday would be tested (and failed) so today we find out if I am half right or all right – hopefully it’s all right because we pushed our short plays to the lines and added a short on oil with USO May $41 puts, which we added yesterday afternoon for .95 at 2:30 and finished the day up a nickel.  We are expecting the oil inventories to show some demand destruction at 10:30 – analysts are predicting a net 1Mb build, with a 1.6Mb increase in oil and a 300,000 barrel decrease in gasoline and distillates.  A build in either gasoline or distillates will indicate pricing is hurting demand, despite whatever oil number comes up so that’s what we’ll be watching

Yesterday, in the morning post (never miss one with a $1.90 per day Annual Report Membership!), I mentioned the TBT weekly $33 calls at $1.55 would make a good long and those finished the day at $1.87 (up 20%) but they looked good enough to keep into the close and we expect trouble in today’s 10-year auction so we’re being greedy and going for $2.15+, which will make a nice 40% gain in 2 days.  

To make sure you don’t miss our next trade idea – today I will give you a trade idea that can knock 20% to 69% off the $695 Annual PSW Report Membership:  You can buy 10 QQQ May $60 puts for $1 and sell 10 QQQ May $59 puts for .48 for net .52 ($520) on the $1 ($1,000) spread (it’s the net that matters, not the price of each leg).  The maximum gain on this trade is $480 if the Qs finish below $59 next Friday and, if you stop your loss at net $400 (.40 per contract) that limits you to $120 lost and, if this trade loses money, let me know and I’ll give you 50% off an annual PSW Report Membership, which will save you $347.50 so net $127.50 (20%) saved on a Membership – even if the trade doesn’t work.  If it does work – you are honor-bound to subscribe, of course!

What we are expecting, between now and Friday, is for the chart above to form a pattern that will look like the "M" in the McDonald’s arches,


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Do I See Lipstick On A Pig? Or Is The Stock Market and Gold Still Going Up?

Courtesy of Chris Vermeulen

As most sophisticated investors and traders are aware, the U.S. Federal government has run up significant deficits and the long term debt burden is becoming a drain on Gross Domestic Product. That being said, most economists are discussing the possibility of a major decline in the value of the U.S. Dollar going forward as inflationary monetary policy begins to strangle growth. While that view point may prove right over the long haul, in the short run most traders are not likely expecting the U.S. Dollar to rally.

The U.S. Dollar is expected to reach a multi-year cycle low in the near future. From the cyclical low, I expect the U.S. Dollar to regain a strong footing and work higher against the crowd. This is not to say that the U.S. Dollar will not eventually decline, but financial markets do not work that easily. Shorting the U.S. Dollar is a crowded trade and Mr. Market punishes crowded trades quite often by pushing prices the opposite of what the heard is expecting. Should the U.S. Dollar find a strong underlying bid, precious metals and domestic equities would feel the brunt force of such a move. While it remains to be seen if the U.S. Dollar rallies, if it does it will catch many traders and economists by surprise and the unwinding of the short dollar trade could unleash a wave of buying that we have not seen for quite some time.

Let’s take a look inside the market…

Major Index Price Action Over The Past 12 Trading Sessions – Bearish
Below is a table showing the main indexes used for tracking the market. The interesting thing about this data is that the indexes which typically lead the market have been deteriorating for the past 12 days and no one has noticed.

In short, the Nasdaq, Russell and Dow Transport indexes typically lead the market

Every radio station and business channel covers the Dow and SP500 indexes therefor the general public hears the market performance based on the those indexes. The problem here is that the Dow only consists of 30 stocks and the SP500 only holds the top 500


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Technical Tuesday – Charting our Future

XLF WEEKLYFundamentals don’t matter so let’s look at the technicals.

As you can see from David Fry’s chart, there’s a good reason that XLF was my Trade of the Year in December 25th’s "Secret Santa’s Inflation Hedges."  The full force of the US Government is backstopping this play, in which we took the Jan $12/13 bull call spread at .80 and sold the Jan $11 puts for .40 for net .40 on the $1 spread.  I said, just 37 days ago, that this could  be the easiest 150% you ever make.   

Just 5 weeks later, the bull call spread is .90 and the short puts are .30 for a net .60 – up 50% in 5 weeks.  That SHOULD help keep us ahead of inflation, right?  Keep in mind this was a trade, among others, that I published for free to the General Public on both our subscription site as well as Seeking Alpha and then it was syndicated on Yahoo Finance, Google Finance, MarketWatch, AOL, etc.  I’m told that about 250,000 people read my free public posts when I make them available, so it’s not like these trades were so secret.  

Yet, however many people decided these were good trade ideas and followed them – it didn’t matter because our counter-party wants to lose!  Yes, that’s right, we are riding on the coat-tails of the Banksters, who are taking our future tax dollars from the Federal Reserve and betting them on rising commodity prices and monetary inflation.  In order for us to bet on that, we need some idiotic counter-party to take the other side of that bet – one that assumes falling commodity prices and no inflation.  

Even in under-educated America, who would be foolish enough to take such a bet?  Why it’s us, of course! Well, it’s the Federal Reserve Bank of the United States of America who are spending $100Bn a month buying Treasury Bills at the lowest rates every (assuming no inflation) while trying to justify their misuse of our money with BS statistics that we’ve stripped away in "How the US Government Manipulates Inflation Data" along with this helpful video:

The Fed is using YOUR money, through debt, taxation and devaluation, to buy notes that a rational investor wouldn’t touch with a 10-foot pole and the ONLY way you can prevent yourself from getting screwed
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Fickle Friday’s Jobs Report

Gallup's U.S. Unemployment Rate, 30-Day Averages, January-December 2010 Trend I don't know what the Jobs will be but I'm betting on disappointment

I had said to Members yesterday that I liked the Jan QQQQ $56 puts at .77 and the Weekly (next week, not today) QQQQ $56 puts at .53 as good ways to play a jobs miss.  My comment in Member Chat was that I felt the ADP figures pushed expectations up significantly higher and now we would be much more likely to disappoint with almost any number short of 250,000 jobs added.  

The key is the seasonal adjustments but there was already some very disturbing jobs numbers in the Gallup Poll, which came out last night and showed unemployment RISING from 9.3 to 9.6% in December and, even worse, the number of Underemployed workers shot up from 18.5 to 19%, just 0.5% lower than we were in January of last year.  

Gallups Job Creation index showed no improvement in December but it is holding +10, which is the best net level we've had since October of 2008.  So we have ADP going one way, yesterday's unemployment numbers were flat and Gallup says things are getting worse.  8:30 will be very interesting indeed.  

While we wait for the number, let's take a look at last week's post to see how things are tracking.   Monday morning I mentioned we liked FCX short at $120 (a trade that was reiterated Tuesday morning) as we felt the run in copper was overdone.  It was a rough week but FCX is down at $116 now so we're on track at the moment of course we took a spread in chat, which was the Feb $119/110 bear put spread at $3.60, selling the Jan $120 calls for $3.60.   That spread is now $4.60 and the calls have dropped to $2.30 for a nice net $2.30 gain already.  

I said that $90 was already ridiculous for oil and we shouldn't go any higher.  We picked up the USO Feb $40 puts on Tuesday morning in Member Chat at $2.10 and those are now $3.70 so a nice $1.60 gain there, which is about the same as if we had just shorted the stock as it dropped from $39 that…
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Testy Tuesday – Topping or Popping?

 Looks like we picked the wrong week to short FCX! 

Copper hit a new all-time high in Shanghai this morning (as the guy who owns 90% of London's closed for the holiday exchange supplies sold it to himself for more money than he did yesterday) and gold is back at $1,400 in the futures and that should give us a better entry on FCX puts than we expected for round 2 but Paul Krugman has me worried now that maybe commodity prices are just high because the World hasn't got enough of them to go around.  Usually Paul and I agree but i think he may be discounting the effect of a 10% decline in the dollar a little too much – which is understandable as he is still arguing for more stimulus while I'm arguing that the way they are stimulating now is causing this problem and can not and should not be sustained.  

Still, we have to be pragmatic.  That's why, this weekend, I posted our "Secret Santa Inflation Hedges for 2011" as a follow-on to the "Breakout Defense – 5,000% in 5 Trades or Less" ideas of the 11th and, in the week between the two, we had bullish bets on  HMY, XLF, CAKE, TNA, IWM, CCJ, CHK, EXC, TNA, XLF, UNG, GLD, AAPL, GLW, TOT and AXP – which I had mentioned on the 19th in the weekend post "It's Never too Early to Predict the Future."  Just because I think there's going to be a disaster doesn't mean we can't go with the flow while we wait, right?  

We don't have to like the market to buy it above our breakout lines but we do need to keep in mind that this is a very thin rally that is very likely nothing but window dressing aimed at dragging money off the sidelines so the IBanks who have been propping up the markets can, once again, stick the retail shareholders with the bag as they load up on puts (watch the VIX to confirm) and crash the markets once again.  I've seen it happen in 1999, I saw it happen in 2008 and, both times, the rally lasted longer than seemed logical but the smart play was to hit and run – not to leave your money on the table but
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Thoughtful Thursday – The True Meaning of Christmas

 Why it’s almost Christmas Eve, Mr. Scrooge!  

The Global markets are closing for the weekend and we’re bound to have a very slow day – if you are waiting for a Santa Clause rally on today’s trading, you are very likely to be disappointed.  Today is a day for relaxation and reflection.  Remember, the words of Jacob Marley, who said:

Business! Mankind was my business. The common welfare was my business; charity, mercy, forbearance, and benevolence were all my business. The dealings of my trade were but a drop of water in the comprehensive ocean of my business!

Marley was a man who worked and worked until the day he died and regretted it every day after.  If you don’t believe in an afterlife and you don’t believe in leaving behind the World a better place than you found it, at least find some time for yourself so people don’t call you "a squeezing, wrenching, grasping, scraping, clutching, covetous old sinner" after you’re gone.  

I was inspired this morning by a post on Barry’s site titled "Give and You Will Receive" listing 13 good ways we can all give every day.  ’Tis the season of giving and goodwill to all man and all that and my children just completed their annual ritual of wrapping up all the toys they are done with to give to children who need them more than they do.  It’s a little thing, but if you want your kids to learn the benefits of charity, actually parting with things they like or liked and physically giving them to kids who clearly appreciate it is much more gratifying than writing a check to some anonymous organization.  The same goes for volunteering some time (and money!) at a local shelter and helping some people come in from the cold for a nice, warm meal – it makes you appreciate your family dinner a LOT more! 

Anyway, end of commercial.  Let’s just see who’s being naughty and who’s being nice this morning.   We have quite a bit of data today with November Durable Goods at 8:30 (which have been tailing off) along with Personal Income and Spending.  2010 has NOT been an exciting year so far with monthly gains of about 0.4% but, on the bright side, there were only small negative months but this report only covers November and will not
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Friday Already? What Next?

QQQQ WEEKLYWhat a wild week! 

The Dow is up 400 points since Monday and we are just 150 points away from our November 4th high.  Once we get over 11,500, we have no reason at all to be bearish from a technical standpoint and fundamentals are out the window so what else should we be looking at?  We ended up too bearish on our $10K-$50K Virtual Portfolio as we hit our double-down targets on a couple of index shorts so I am CLEARLY in the bear camp this morning as we're still playing this as a double-top, rather than a breakout but what if we do break out?  As David Fry said this morning:

Any worries from Europe, China tightening, higher Jobless Claims are mere inconveniences when the light is a bright green.  Let’s face it; this is what the Fed stated they wanted with their POMO activities—higher prices overall with higher stock prices emphasized. The Fed prints money and buys bonds from the Primary Dealers and (wink wink) they know what they’re supposed to do with it. Bears just better get out of the way. 

Looking at David's Nasdaq chart, we can see that we are back at 2007 highs.  I find this truly amazing as it seems to me things aren't quite as good in America as we THOUGHT they were in 2007, before we found out that Financial earnings were a scam and before our homes lost 1/3 of their value and when our neighbors used to all have jobs but CNBC is telling us over and over and over and over again how great things are so it must be true because they are on TV and TV doesn't lie to us.  

 

So there's our ridiculous rally premise and we're "very excited" to go bullish if we break over the 2007 market highs.  XLF has been a real laggard so we like taking advantage of a run in the banks with trade ideas like the FAS April $20/25 bull call spread at $2.70, selling the April $21 puts for $2.55, which is net .15 on the $5 spread that's already $4.25 in the money.  So, if FAS makes a .75 gain between now and April expiration and holds it, this trade makes a 3,233%


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Wednesday – Working Toward the Clampdown

 

No man born with a living soul
Can be working for the clampdown
Kick over the wall 'cause government's to fall
How can you refuse it?
Let fury have the hour, anger can be power
D'you know that you can use it?

The voices in your head are calling
Stop wasting your time, there's nothing coming
Only a fool would think someone could save you 

In these days of evil presidentes
Working for the clampdown
But lately one or two has fully paid their due
For working for the clampdown – The Clash

Portugal is having a national strike today and labor unions in Ireland are planning “mass mobilization” in protest of planned spending cuts, with a march in Dublin on Nov. 27.

Portugal said in September it would cut the wage bill by 5 percent for public workers earning more than 1,500 euros ($2005) a month, freeze hiring and raise value-added taxes by 2 percentage points to 23 percent to help reduce a deficit that amounted to 9.3 percent of gross domestic product last year. The measures are included in the government’s 2011 spending plan, which faces a final vote in parliament on Nov. 26.  “The strike arises in a context of a set of measures that are quite significant and have social impact,” said Carlos Firme, a director at Lisbon-based Banif Banco de Investimento SA. “It’s natural that there are demonstrations of discontent.”

I'm sure King George's Bankster buddies told him the same thing when the American colonists expressed their "discontent" – Don't worry my King, there's sure to be some grumbling from the peasants but your stimulus package is working wonderfully – now come outside and check out the golden horseshoes I put on my carriage team!  

We were able to add a little bling to our own rides as those QQQQ $53 puts I told you about in yesterday's morning post, which we picked up in Member chat on Monday at .45, opened at .75 and flew on up to $1.25 (up another 110% from Monday's entry) and pulled back to finish the day at .98.  We were, of course, very happy to…
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Monday Market Movement – Meaty Beaty Big and Bouncy!!

POMO, POMO, POMO!  

The Fed is in all-out attack mode this week with $35Bn scheduled for release in the next 5 days.  If that doesn't goose the markets, then I think we are screwed because people, $35Bn is A LOT of money for a week.  It's $1.82Tn a year at that pace or 12% of our entire GDP being created by the Fed to give you the illusion that all is well with the markets.  So say, thank you Chairman Bernanke, for treating us like children who would rather be lied to than facing reality and making necessary choices.  

Speaking of necessary choices, I HIGHLY recommend looking at Barry Ritholtz's "Fix It Yourself" deficit kit.  Barry takes the more complex (but also good) NY Times article and presents the very excellent chart that shows us exactly what budget cap needs to be filled and what the available choices are to fill it.  It's a great way to think about the budget and also it makes you realize that 5 or 6 reasonable people sitting down with this chart at a table should be able to knock this thing out in a weekend if we were living in a rational world or perhaps one where an out-of-control Central Bank cooperated with a deceitful Treasury Department to maintain a status quo that clearly is not working for the American people.  

FMD2QE2 is not about "fixing" the economy, it's about FIXING the profits of the Primary Dealers (Gang of 12) who are estimated to reap a $50Bn benefit by simply acting as the conduits through which the Fed distributes our money as if they were the town Santa tossing candy off the back of a fire truck.  

POMO spending might keep equities up and that is good for those of us who own them but what is it doing for the great unwashed and unemployed masses?  Speaking of unemployed, did you know that 100,000 of Octobers 156,000 jobs created were not actual jobs but a bookkeeping entry as the government changed the "seasonal adjustment" it made to payroll numbers?  Our friend, John Maudlin, explained the shenanigans over the weekend:    

"According to John Williams at Shadow Government Statistics, the BLS’ fiddling with the figures via


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Phil's Favorites

Our Nuts Are in Danger

 

Our Nuts Are in Danger

Courtesy of John Mauldin, Thoughts from the Frontline

Life would be so much easier if we didn’t have to worry about our financial futures. Though I suppose we don’t have to worry. Animals don’t. Squirrels instinctively store away nuts and thus live through winter without much thought.

We humans have retirement winters, and we’re more sophisticated than squirrels. We generally outsource the job of managing our nuts/money to professionals. All well and good if we save enough and if the professionals do their jobs right. As we saw last week, the elected squirrels who run Social Security haven’t evolved to face changing con...



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Zero Hedge

Watch: Hong Kong Cop Taken Out By Flying Drop-Kick To Stop Arrest

Courtesy of ZeroHedge View original post here.

A Hong Kong police officer was knocked down by a flying drop kick as he attempted to arrest a protester during the 19th week of anti-government unrest. 

The officer can be seen struggling over custody of a protester until the kick levels him, followed by others running up and hitting the man before they run off. 

The protests - this week's revolving around a new 'anti-mask' law - saw turnouts in more than half of the semiautonomous Chinese territory's 18 districts. 

...



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Insider Scoop

Can Netflix Deliver A Hit After Q2 Subscriber Disappointment?

Courtesy of Benzinga

Netflix Inc (NASDAQ: NFLX) is scheduled to report its third-quarter results Tuesday, after the market close.

The consensus estimate calls for earnings of $1.04 per share, up from 89 cents per share in the year-ago quarter. Analysts, on average, expect the company to report revenues of $5.25 billion, up 31.30% year-over-year.

Over the past four quarters, ...



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Kimble Charting Solutions

New Gold Bull Market? Not Until This Happens!

Courtesy of Chris Kimble

After a big summer rally, Gold peaked out at $1566/oz in September.

Since then, Gold prices have been consolidating between $1475 and $1550.

So what’s happening here? Enter the Swiss Franc currency…

In today’s chart, we look at a key indicator (and correlation) for Gold. As you can see, the Swiss Franc has an uncanny resemblance to Gold.

Both Gold and the Franc are testing heavy resistance at the same time.

Until both breakout at (2), odds are low that a new Gold bull market emerges with another big rally leg higher....



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The Technical Traders

Lots of Upside Ahead for the Metals and Miners

Courtesy of Technical Traders

Palisade Radio talks with Chris as he discusses his approach to trading and why technical analysis works for him. He focuses on the chart and price action and explains why investors need to follow a trading strategy that suits their personality.

He cautions that a broad sell-off is likely when stocks move into the next bear market. This liquidation will pull everything down, including gold, for a time. Afterward, he anticipates a massive rally in the juniors.

Time Stamp References:

...



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Chart School

US Economic Review 2019Q4

Courtesy of Read the Ticker

An investor must form an opinion of the wider economic risk, here is a small sample of readtheticker.com US economy review.


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Example of the first chart in the video.


Click for popup. Clear your browser cache if image is not showing.



Fundamentals are important, and so is market timing, here at readtheticker.com we believe a combination of ...

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Digital Currencies

Zuck Delays Libra Launch Date Due To Issues "Sensitive To Society"

Courtesy of ZeroHedge View original post here.

Authored by William Suberg via CoinTelegraph.com,

Facebook is taking a much more careful approach to Libra than its previous projects, CEO Mark Zuckerberg has confirmed. 

“Obviously we want to move forward at some point soon [and] not have this take many years to roll out,” he said. “But ...



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Lee's Free Thinking

Look Out Bears! Fed New QE Now Up to $165 Billion

Courtesy of Lee Adler

I have been warning for months that the Fed would need new QE to counter the impact of massive waves of Treasury supply. I thought that that would come later, rather than sooner. Sorry folks, wrong about that. The NY Fed announced another round of new TOMO (Temporary Open Market Operations) today.

In addition to the $75 billion in overnight repos that the Fed issued and has been rolling over since Tuesday, next week the Fed will issue another $90 billion. They’ll come in the form of three $30 billion, 14 day repos to be offered next week.

That brings the new Fed QE to a total of $165 billion. Even in the worst days of the financial crisis, I can’t remember the Fed ballooning its balance sheet by $165 bi...



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Biotech

The Big Pharma Takeover of Medical Cannabis

Reminder: We are available to chat with Members, comments are found below each post.

 

The Big Pharma Takeover of Medical Cannabis

Courtesy of  , Visual Capitalist

The Big Pharma Takeover of Medical Cannabis

As evidence of cannabis’ many benefits mounts, so does the interest from the global pharmaceutical industry, known as Big Pharma. The entrance of such behemoths will radically transform the cannabis industry—once heavily stigmatized, it is now a potentially game-changing source of growth for countless co...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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Members' Corner

Despacito - How to Make Money the Old-Fashioned Way - SLOWLY!

Are you ready to retire?  

For most people, the purpose of investing is to build up enough wealth to allow you to retire.  In general, that's usually enough money to reliably generate a year's worth of your average income, each year into your retirement so that that, plus you Social Security, should be enough to pay your bills without having to draw down on your principle.

Unfortunately, as the last decade has shown us, we can't count on bonds to pay us more than 3% and the average return from the stock market over the past 20 years has been erratic - to say the least - with 4 negative years (2000, 2001, 2002 and 2008) and 14 positives, though mostly in the 10% range on the positives.  A string of losses like we had from 2000-02 could easily wipe out a decades worth of gains.

Still, the stock market has been better over the last 10 (7%) an...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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