12/31/2015 Live Update

[Out of Bounds]

/NQ new LOD

[superxy]

How about 1st of new year? Any stat?


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[Cobra]

2nd target met, vol surge, could be a rebound here first then we'll see. I'm not sure about another bear leg because it's the 2nd test of day low now, so 40% chances of double bottom here. A sharp rebound would be a bad sign for bears.

[MrMiyagi]

Intraday NYMO down to +17.38, despite the drop it is still not at the day's low.

[fehro]

How about 1st of new year? Any stat?


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Jan 2, 2008 was not pretty.. SPY D fwiw

[QED]

.
Cynical prediction: today at market close, $SPX will be north of $2058.90!

A market you can believe in … [/snark]

[MrMiyagi]

!!! POWER HOUR !!!

[Cobra]

!!! POWER HOUR !!!

[QED]

From Jon Boorman:

“Make time for this over the weekend: Outstanding BBC interview with Jimmy Page”

http://www.bbc.co.uk/programmes/b06s91g9

.

[fehro]

SPX 2045 goes.. could see a 20-40 point drop.. crazy I know.. VIX spikes!

[Cobra]

3rd leg down, still 40% chances of double bottom if not higher.

[Trades with cats]

Santa Rally & Stock Traders Almanac-
"If Santa Claus should fail to call bears may come to Broad and Wall"
Last 5 days of the year and first two days of January with an average of 1.4% gain. Failure usually proceeds bear markets or at least years where prices will be lower later.

I am a Michigan State Alum so Sparty On!

[nikman]

Mr. M, It seems like the NYMO did not quite continue on to make a "M" shape (despite the drop). It sort of flattened out today. That could mean a moral victory for the bulls?

Intraday NYMO down to +17.38, despite the drop it is still not at the day's low.

[josephli]

Santa Rally & Stock Traders Almanac-
"If Santa Claus should fail to call bears may come to Broad and Wall"
Last 5 days of the year and first two days of January with an average of 1.4% gain. Failure usually proceeds bear markets or at least years where prices will be lower later.

I am a Michigan State Alum so Sparty On!

fuq spartan. wolverines rule!

[fehro]

Weeklies not pretty

[MrMiyagi]

Mr. M, It seems like the NYMO did not quite continue on to make a "M" shape (despite the drop). It sort of flattened out today. That could mean a moral victory for the bulls?

No, not yet, it doesn't have to be a pretty "M", as long as it doesn't turn up.
However, I am debating getting a couple of calls to start 2016. Except that there isn't an extreme reached in anything so the bounce would purely be PPT.

[josephli]

Weeklies not pretty

I personally prefer another up leg before breaking spx 2046 level.

[nikman]

PPT = Plunge protection team?

Mr. M, It seems like the NYMO did not quite continue on to make a "M" shape (despite the drop). It sort of flattened out today. That could mean a moral victory for the bulls?

No, not yet, it doesn't have to be a pretty "M", as long as it doesn't turn up.
However, I am debating getting a couple of calls to start 2016. Except that there isn't an extreme reached in anything so the bounce would purely be PPT.

[josephli]

Mr. M, It seems like the NYMO did not quite continue on to make a "M" shape (despite the drop). It sort of flattened out today. That could mean a moral victory for the bulls?

No, not yet, it doesn't have to be a pretty "M", as long as it doesn't turn up.
However, I am debating getting a couple of calls to start 2016. Except that there isn't an extreme reached in anything so the bounce would purely be PPT.

Mr.M, I wonder how you handle the negative theta or time decay of your option trade?

[Out of Bounds]

If there were more time on the clock, I would go long here - but this late, who know what could happen.