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No kidding...Just went below $55This is killing me...
How about buying some TZA to offset these losses till they last? I bought some two days ago so I am no longer throwing up behind the couch!
Look at that volume. Longs can only hope it's capitulation.
$54.50500 points down on the DJIA
Ok, confession time. I got stopped out this morning at $61.75.
Boy was I wrong for calling a bottom yesterday. That hammer really fooled me... Just be lucky the model wasn't based on DNDN.
Well you weren't the only one who got fooled. I made that hammer the central theme of my blog posting last night. Turns out it wasn't a sledge hammer. It wasn't even a tack hammer. It was one of those plastic toy hammers. I guess all my trades are now investments :-)
Hang tough guys QE3 announcement tomorrow would drive this baby up to the moon!
Almost 70ish for now. Depending on job numbers it might make it.
'Almost 70ish for now'What do you mean Joe? The Dow is down 70 this morning...
Finally got a good number!!!!!!!!
I watch the eminis RMI
Maybe we will get more of a push when the market opens up.
and the pain continues...
Nice call Chris, now where do you think we are going??
We are in the support are of the emini futures right now, if we break below 1170 then next support about 1155 on market. I have been trading TZA like a mad man
I agree now, nice call! Wish I would've agreed a few days ago. :)
I REFUSE TO BELIEVE WE CANT BOUNCE BACK INTO THE 85 ZONE!
Just remember, you may regret riding this one down to the bottom for a while, but you'll regret selling at these levels forever.
agreed michele...theres no way i can stand 25% loss
Michele, as we all know, holding on for long on to leveraged ETFs is still a slow losing proposition.I have not sold but have offset my long positions with some longs on TZA. I hope to time their selling well!
Got out of TZA at the bottom and got some more TNA. One of the rare lucky timing plays for me.
Chris, did you cover and pick up some TNA when your target was hit?!? Hey Michele, maybe today can be your sledge hammer?!?! It's trying... :)
Man, this is nuts. Dow was down 100, I go downstairs to grab something to eat, come back up and the Dow is now up 100.
GREAT news out of Europe. Back on the roller coaster!!
let's hope the best. JT, it is touch time. the intraday model readings you posted previously was quite informative. Could you resume those posts when time comes. understand the huge volatility would make such early "readings" let reliable and subject changes more frequently in current market. however it could be also big help to see the model behavior is such unusually condition.Again, thanks for sharing with us. I am clinching my teeth to bear it out -- tempted to bail-out a few times since yesterday, but still hod-on, for now:-(
YZ, I will do my best beginning next week. This week has been a busy one... Thanks!
Our floor as a whole went long TNA when the bottom was hit. I myself, was stomped out right when the bottom was happening and actually missed the move. I hate HFT algos.