06/11/09 S&P Emini & Futures Recommendations

[badboyardiedem]

great stuff!

[dudeindevon]

Nice job explaining the options rollover Oscar. I certainly would expect a volatile week heading into exp. with so many indices looking to break this range and at the same time looking like they may want to rollover.

I expect the boys at GS and JPM to hit the gas pedal right when it looks most likely to break down, much like the morning of 5/26. If you are a seasoned trader great week to foget about the longer term charts and focus on the 1 and 3.

[silverrain12345]

well i'll match that c/h and raise you a h/s on the 30 min chart

[dudeindevon]

I have seen many h/s recently that never broke down, thats because the trend is still up, but I do see it as a warning sign as they have been just starting to show up again the last couple weeks and were knowhere during the first couple months of this rally? Don't try and jump the gun to the downside. The charts will tell you when and there will be plenty of time when the new leg down begins. No green shoots.

[bnash2002]

great call with indicators so bearish.

[favoritehobby]

In this game you can double-dip

[77omniac]

SPX had an 8 day range between 923/950 zone, and now today testing the upper end of the range again...

dollar diving on rollover thursday thus far... UY BIG O and team!

[ace439]

Great call on the Euro this AM ....

[matello18]

DUKES UP!!!!!

[silverrain12345]

fine and dandy with the formation,, but this is hardly the beginning of a uptrend,, it's moved 50% off the low in 10 weeks,, record move,, without pullback

[jar587]

a time consolidation like we have seen the last 6 weeks or so is just as good as a price correction. I'm cautiously bullish

[maximumvalues]

i agree with you. this is pure manipulation at the top so the big boys can line up the sheep and unload thier positions on them , load up short, and then KABOOM. take a look at the 20-1 insider sell buy ratio. GS now broke its uptrend. MAX PAIN is 90 on the SPY. the next move is lower. im loaded up in puts at 950 on the SPX. one position is up 122% already, in just a few days.

[Livewith0scar]

Max,

I am not a subscriber to the "manipulation school of thought" as markets will absolutely go where they are destined to go no matter the size or shape of "intervention". Nobody is bigger then the market as proven by the huge drop which occurred over the past 2 years.

Trade what you see and not what you suspect is happening behind the scenes.

Oscar

[dudeindevon]

In defense of the cup and handle formation, the one that Oscar points out is not a LONG term formation but an intermediate one that could last a month or two. Correct me if I'm wrong O.

[Livewith0scar]

I agree that the formation itself is not very long as it is about 4-6 weeks in the making, however it is long enough to produce a move that us day traders can sink our teeth into.

Let's root for the upside but TRADE WHAT WE GET!.

Oscar

[welshbob100]

Great vid Oscar, dukes are up.