Dear aaaaaaum, Frankly my projections look higher at this point, not that it can nt happen, I'm just considering probabilities here. I would not do it or would do it in a "modest" way. If we saw a turn around and than retracement, I would be more aggressive there. Timing wise, this "stupid" market could go into Mar/Apr, even as far as June... cause the world is spewing money and it is, partially at least, going into stocks. Good Trading
Dear byzanman, could you update us which way the skew was? One obvious condition could be that skew is created by "smart money". I would think that a dumb money would created skew over time, but at once, it is perhaps more of the smart money... Good Trading
Yesterday I had noticed that the qqqq was looking to close over 45.00 and just at the close a small abount of shares took this down. Now this did not leave time for the options to adjust and the reason why for most of the day, when the qqqq was up no more than .38, most option strikes were profitable. It seems to me that this is the precursor to something, a major run up or down but it will not be suttle.
What is your opinion on the QQQQ and any opinion on the above.
I was looking to go short on the qqqq and go long on HAL, or APC and add to GG.
Dear Byzanman, Ok yes we saw the event you describe and that is curious and I stay with the impression that it was the smart money that did this as public is incapable of doing it. I certainly think that GOLD is going ( is already ) byte the hand of the FED and interest rates ( I keep saying will go higher) . I mentioned it before that it will be GOLD that is going to trun GOLDILOCKS into GOLD BLOCKS the market eventually as FED fights the it's wors enemy GOLD. I believe tha 730 is now a foregone conclusion before the end of May and it could even be 900. So invets accrodingly dear byzanman and everybody.
Thank you Boris, What I can not understand, if someone was looking to shave off on a long position in qqqq, they would have taken the bid ? If a large block was bought at a discounted price, why .38 below the ask, and the volume at the minute was not big at all ?
In any case, do you believe that going long on the oil equities I mentioned is wise and shorting qqqq is premature at this point ?
As a side note, contemplating going short on pcu at 70.00 but worried that a pcu (copper) run may take all metals down incl gold. Do you belive that gold and copper trade in sync ?
Dear Byzanman, At this juncture the GOLD is leading everything. GOLD and Copper, Platinum etc. were in sync last year( before May). No more, We stated in August 2005 that From now on GOLD will kill OIL, then in 2006 we stated that GOLD will kill COpper etc. WHy? cause we are into the final termina stage of the economy and the only way it grows, is by spewing the money( entlessly ) by world Central Banks. So, how long would GOLD allow them to do this digusting job of destroying everything the little guy works for? We shell see. At this point I am looking for investments in precious metals, not even in PM stocks. Cause the Metal is where it is. This is the end game my friend. The only king now is GOLD. See "Gold Blocks GoldiLocks" Good Trading
Thanks again Boris, a very very insightful reading on the future landscape, an ominous one but the reality.
I had GLD at the top of it's trading channel at 67.46 yesterday and I certainly expected more of a slow incline toward this number. That being said, do you think it is wise to add to a position on GG for an example today ? or wait for a pullback ?
My only other question is on the qqqq again. I am really thown on this. On the daily chart it is showing a bullish cup on rising highs and lows except for yesterday's closing fubar that indicates in my opinion another bull run coming up albiet a short one. However, I can not help but notice the incredible momentum on the qqqq and feel that it will make a run at a new high. Now all this said, one should go long on the qqqq right ? I just can not do it, as I still do not think the volume is there to make this run.
I want to short the qqqq but all signs are there for a run up but I can not have any conviction to going long. What do you belive the st will bring on this. Do you see the sell pressure light and the buy pressure somewhat strong causing this fallacy ?
Dear Byzanman, I have posted the SPX pressure up there and you can see that it is really high. So, what is the expectation 1-4 days of upword/sidways consolidation and then down. So, I think there will be time to think about selling stock indices sometime tomorrow and day after. And that is the only way I can approach the market these days one day at a time with the Limits published and selling and/or buying against. That goes for GG/GOLD/SPX/QQQQ or anything else. My longer term views should be clear, I expect the stock market to break down and Gold market to break up, but as indicated before they may, actually..., go together for a while, due to enormous money sloshing around and FED facilitating the Low Bond rates. Good Trading
10 comments:
Dear Boris, Do EEMPC (EEM APR 115 PUTS for 3.30-3.70) look good to you? Thanks.
Greetings all,
Did anyone notice the skewed close of the qqqq yesterday ? And notice
the skewed options pricing relative to the qqqq range today ?
I would appreciate some insight on this.
Thanks in advance....
Dear aaaaaaum,
Frankly my projections look higher at this point, not that it can nt happen, I'm just considering probabilities here. I would not do it or would do it in a "modest" way. If we saw a turn around and than retracement, I would be more aggressive there. Timing wise, this "stupid" market could go into Mar/Apr, even as far as June... cause the world is spewing money and it is, partially at least, going into stocks. Good Trading
Dear byzanman, could you update us which way the skew was? One obvious condition could be that skew is created by "smart money". I would think that a dumb money would created skew over time, but at once, it is perhaps more of the smart money...
Good Trading
Hello Boris,
My apologies for not being specific.
Yesterday I had noticed that the qqqq was looking to close over 45.00 and just at the close a small abount of shares took this down. Now this did not leave time for the options to adjust and the reason why for most of the day, when the qqqq was up no more than .38, most option strikes were profitable. It seems to me that this is the precursor to something, a major run up or down but it will not be suttle.
What is your opinion on the QQQQ and any opinion on the above.
I was looking to go short on the qqqq and go long on HAL, or APC and add to GG.
Thank you for you insight Boris....
Dear Byzanman, Ok yes we saw the event you describe and that is curious and I stay with the impression that it was the smart money that did this as public is incapable of doing it. I certainly think that GOLD is going ( is already ) byte the hand of the FED and interest rates ( I keep saying will go higher) . I mentioned it before that it will be GOLD that is going to trun GOLDILOCKS into GOLD BLOCKS the market eventually as FED fights the it's wors enemy GOLD. I believe tha 730 is now a foregone conclusion before the end of May and it could even be 900. So invets accrodingly dear byzanman and everybody.
Thank you Boris,
What I can not understand, if someone was looking to shave off on a long position in qqqq, they would have taken the bid ? If a large block was bought at a discounted price, why .38 below the ask, and the volume at the minute was not big at all ?
In any case, do you believe that going long on the oil equities I mentioned is wise and shorting qqqq
is premature at this point ?
As a side note, contemplating going short on pcu at 70.00 but worried that a pcu (copper) run may take all metals down incl gold.
Do you belive that gold and copper trade in sync ?
Thank you for your help...
Dear Byzanman, At this juncture the GOLD is leading everything. GOLD and Copper, Platinum etc. were in sync last year( before May). No more, We stated in August 2005 that From now on GOLD will kill OIL, then in 2006 we stated that GOLD will kill COpper etc. WHy? cause we are into the final termina stage of the economy and the only way it grows, is by spewing the money( entlessly ) by world Central Banks. So, how long would GOLD allow them to do this digusting job of destroying everything the little guy works for? We shell see. At this point I am looking for investments in precious metals, not even in PM stocks. Cause the Metal is where it is. This is the end game my friend. The only king now is GOLD.
See "Gold Blocks GoldiLocks"
Good Trading
Thanks again Boris, a very very insightful reading on the future landscape, an ominous one but the reality.
I had GLD at the top of it's trading channel at 67.46 yesterday and I certainly expected more of a slow incline toward this number.
That being said, do you think it is wise to add to a position on GG
for an example today ? or wait for a pullback ?
My only other question is on the
qqqq again. I am really thown on this. On the daily chart it is showing a bullish cup on rising highs and lows except for yesterday's closing fubar that indicates in my opinion another bull run coming up albiet a short one. However, I can not help but notice the incredible momentum on the qqqq and feel that it will make a run at a new high. Now all this said, one should go long on the qqqq right ? I just can not do it, as I still do not think the volume is there to make this run.
I want to short the qqqq but all signs are there for a run up but I can not have any conviction to going long. What do you belive the st will bring on this. Do you see the sell pressure light and the buy pressure somewhat strong causing this fallacy ?
I appreciate your comments as I am the student.
Dear Byzanman, I have posted the SPX pressure up there and you can see that it is really high. So, what is the expectation 1-4 days of upword/sidways consolidation and then down. So, I think there will be time to think about selling stock indices sometime tomorrow and day after. And that is the only way I can approach the market these days one day at a time with the Limits published and selling and/or buying against. That goes for GG/GOLD/SPX/QQQQ or anything else. My longer term views should be clear, I expect the stock market to break down and Gold market to break up, but as indicated before they may, actually..., go together for a while, due to enormous money sloshing around and FED facilitating the Low Bond rates.
Good Trading
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