04/04/2011 Live Update

[soku]

i feel like the market is defending around 1395 which is friday low. we may go back to 1400 area then decide which way to go.

[johnnywa]

waiting for next wave of selling SnP 1395

[jarbo456]

JOY is green, go figure

So is SVU....nucking futs.

SVU needed this relief rally (if you can call 2% that). I'm looking to get long it again at some point when I see an exhaustive selling day. Earnings on 4/10...estimate 1.24, previous was negative 7 bucks (accounting for some of the debt it took on for Albertson's LBO). I think it has the potential to surprise to the upside by a little. Over 30% short interest in this name.

[johnnywa]

ISM=1395?

[stucap]

JOY is green, go figure

So is SVU....nucking futs.

SVU needed this relief rally (if you can call 2% that). I'm looking to get long it again at some point when I see an exhaustive selling day. Earnings on 4/10...estimate 1.24, previous was negative 7 bucks (accounting for some of the debt it took on for Albertson's LBO). I think it has the potential to surprise to the upside by a little. Over 30% short interest in this name.

i'm long. cb around $7. only a small position in my PA but a rather significant loser. i like the trade. they have been consistently paying down debt (even though they have a ton of it) and seem to be running a tight ship. top critics have been up in arms about their continued dividend payout so maybe they cut that and its a bullish event (or the exhaustion sell that you've been looking for). supermarkets are a tough spot but i think there's some decent value here.

[johnnywa]

ISM=1395?

Yup down we go

[jarbo456]

JOY is green, go figure

So is SVU....nucking futs.

SVU needed this relief rally (if you can call 2% that). I'm looking to get long it again at some point when I see an exhaustive selling day. Earnings on 4/10...estimate 1.24, previous was negative 7 bucks (accounting for some of the debt it took on for Albertson's LBO). I think it has the potential to surprise to the upside by a little. Over 30% short interest in this name.

i'm long. cb around $7. only a small position in my PA but a rather significant loser. i like the trade. they have been consistently paying down debt (even though they have a ton of it) and seem to be running a tight ship. top critics have been up in arms about their continued dividend payout so maybe they cut that and its a bullish event (or the exhaustion sell that you've been looking for). supermarkets are a tough spot but i think there's some decent value here.

they are carrying 6.3BB in debt and have less than 200MM cash on hand. last quarter they had 518MM in operating cash flow and 493MM in long term debt and divvy payments. these are worrisome numbers.

there seems to be some disgruntled investors on their management - but perhaps you have a better picture on this than i do. i realized that their Albertson's aquisition really blew up their balance sheet, making them look like terrible financial managers, perhaps that's just a misrepresentation.

[KeiZai]

its about time for usdx to make first correction after nice run, it will be good entry point for adding shorts IMHO

possible pattern for bucky

BTW: we are right on a neckline of messy H&S nope?

[KENA]

Watch the 20DMA at about 1397..If the mkt breaks below then we go lower.Wait and see.

[noob]

If you're StockCharts member, please do me a little favor by "vote" and the most importantly "follow" my public chart list here: http://stockcharts.com/public/1684859/tenpp. You need "follow" only once but vote can be done every 24 hours, so whenever you have time, please vote for me, thanks!

If you're not StockCharts member, you can also help boosting my rank by clicking the link once: http://stockcharts.com/public/1684859/tenpp, thanks!


Gap down below yesterday's low so there're some chances the gap won't be filled. Something is different this time, as in Jan or Feb, you bet the market gaps up huge but now we've got 3 gap down already.

The Global ES is a straight down, so I guess it's at least 2 legged, the initial rebound might fail.

Thanks, I hope you are feeling better.
The initial rebound is not the rebound you were discussing in last night report, is it?

Thanks.

Not the rebound to new high.

Thanks, I hope the rebound is yet to happen, not over already

[soku]

market expected slightly soft data, and we do get it. i don't think it will move the market. it is more technical consolidation. the best case for bears will be conso below 1400 and solve the oversold problem.
market is a little bit choppy right now. i will trade less.

[Al_Dente]

1 min internals
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =260018308

[tigerwang9999]

Cobra, hope you feel better now, do you think 6.5% correction starts already? if it is, then 1422/1.065=1335, correct to around 1340?

[Cobra]

target, 60% chances.

[Me XMan]

From last two QE's, there were 2 big sell-offs 1-2 months before the QE ended.
I suspect it will be the same this time. I'm shorting SP500 as usual.

market expected slightly soft data, and we do get it. i don't think it will move the market. it is more technical consolidation. the best case for bears will be conso below 1400 and solve the oversold problem.
market is a little bit choppy right now. i will trade less.

[Al_Dente]

30 min
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =260512572

[Kos]

I hope Mr Ben Bernanke come a rescue bulls soon. He hates to see market drops beacuse of his statment

[Cobra]

Cobra, hope you feel better now, do you think 6.5% correction starts already? if it is, then 1422/1.065=1335, correct to around 1340?

I don't know if it has started or not yet.

[johnnywa]

Funny they didnt leave QE3 on table until next round of data.

[tomsky]

Took profits from the table, djia is hitting support zone, i'm expecting at least a consolidation here.