06/17/2011 Intraday Watering

[cletus]

How do options handle the changes in the dividend/price rebalance on the SPY. The SPY was trading 11 points above the ES futures at the close and are now only 4-5 points above them. Basically they moved the price in the SPY down, how do the options re-evalueate this. Thanks. I have SPY 130 Jul Call options from yesterday near the close and was wondering how this worked.

Don't think it matters. Since volatility may start crashing it will put initial pressure on all options, but hold longer and will do fine. As always, protect gains with stops and don't take a loss at this point.

[Cobra]

Cobra,

Great call today on the open! What is the target range for the third wave down given the big open?

Also, I am very impressed with what you're doing. I would definately pay for a subscription service.

The 3rd wave down should be lower than yesterday's low. I don't have fixed number though.

[BBFinance]

Good Morning Cobra & Gang,
My last comment of yesterday was:
"Re: 06/16/2011 Intraday Watering
by BBFinance » Thu Jun 16, 2011 4:04 pm

To prove my theory of manipulation, tomorrow they will push the market way high up. May be SPY near $ 129/$ 130 range. "

And it seems we are going to get one. But as Phil would love to say ( possibly) its a fake fake fake rally.

I think we would see a lower low and there would be lots of blood and pain in the market.
Everyone will pile on the long side today and next week they will tank the market.

I think the bottom would be in only by the end of the month.

"I think the bottom would be in only by the end of the month."

No

So when would you call for the bottom?

[Cobra]

GM, I hope everyone making a killing as always. somehow 123.88 is poped in my head???

hmm, you're back, you do run faster than others. Hopefully the others also escaped from bears.

[shumushu]

Good morning, market trend up to SPY 129 before dividend?

[BullBear52x]

How a chart like this be bullish to swing, not yet folks,WDIK?

[99er]

SPX
Honey? Do we have any popcorn?
http://99ercharts.blogspot.com/2011/06/spx.html

[BullBear52x]

GM, I hope everyone making a killing as always. somehow 123.88 is poped in my head???

hmm, you're back, you do run faster than others. Hopefully the others also escaped from bears.

kind of windy camping, see no bear, I thought they were roaming

[HK88]

the open. a question though, RSP has dividend today too?

Did a quick search, it was back in March, sth is fishy today..

[Tabby]

Welcome back BB52X.
FYI, Fas does want to go below $22.XX
Good call on EDZ from few days ago.

[cletus]

How a chart like this be bullish to swing, not yet folks,WDIK?

We are making nice profits on the long side today

[Cobra]

the open. a question though, RSP has dividend today too?

Did a quick search, it was back in March, sth is fishy today..

so I think it has dividend today, but still lagging a little bit.

[BullBear52x]

128 still a problem here.

[BullBear52x]

Welcome back BB52X.
FYI, Fas does want to go below $22.XX
Good call on EDZ from few days ago.

Thanks

[BullBear52x]

How a chart like this be bullish to swing, not yet folks,WDIK?

We are making nice profits on the long side today

Nice to hear that.

[cougar]

When Palladium looks this weak, I am just watching.
After trading under MM 4/8, a fall under the Fan support line would be very bearish for metals in general.
However, I am counting on support/reversal here.

[Jennyahwu]

the open. a question though, RSP has dividend today too?

Did a quick search, it was back in March, sth is fishy today..

so I think it has dividend today, but still lagging a little bit.

Cobra, can we load sds today? what price in and stoploss? thanks

[cletus]

I think the bottom would be in only by the end of the month.

"I think the bottom would be in only by the end of the month."

No

So when would you call for the bottom?

Bottom may be in. Could come next week but let's see how far this swing higher goes. If it's weak then likely new lows next week, but I don't take that view at this point.

[99er]

SPX
Popcorn?
http://99ercharts.blogspot.com/2011/06/spx_17.html
No more, dear. The Bulls ate all that crap.

[Cobra]

Cobra, can we load sds today? what price in and stoploss? thanks

I cannot say this. there're chances I might buy SDS at close though, just some chances depends on how market goes today of course.