Disqus - Latest Comments for KingShort

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Fri, 20 Nov 2009 11:09:19 -0000

the stop on this got hit a while ago so you should know.

at the moment it's very tricky to take a convincing trade so I'm staying out of indices.

there is two possible scenarios:

1. This is a base building around 1070-1100 for a shot up to 1150

2. This is going to fall of the cliff and we're into a 6 month decline to test March lows.

at the moment there is not clear direction where the market really wants to go. the sell-offs over the past two days haven't been convincing at all, while commodity prices still suggest equities may have some space to go higher. I think a clearer picture will emerge closer to ECB BoE rate sets in dec.

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Thu, 19 Nov 2009 10:01:15 -0000

buying some SP @ 1092.00.. stop @ 1088. will go fully long if this holds.

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Thu, 19 Nov 2009 09:48:19 -0000

Europes been in the red all day and FTSE and rest of europe are now down over 1%.. if this picture holds until the close I'll be setting up to go short.

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Thu, 19 Nov 2009 02:58:49 -0000

I've sold this at 1105 mainly due to weakness in Asia.. keep a close eye on how europe trades, could turn red sub 1%

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Wed, 18 Nov 2009 10:08:32 -0000

Just went fully long again on SP @ 1104.

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Tue, 17 Nov 2009 03:28:12 -0000

I'm closing the SP long at 1105.00 until later.. I'll be out of travelling most of the day, but unless europe sinks I expect the market to hold in a choppy session..

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Mon, 16 Nov 2009 01:29:09 -0000

SP is now above 1100. today I see two possible scenarios and I'm keeping a close eye on how Europe trades.

1. Europe will show strength and US will keep it's gain and go higher
2. Europe will bounce around without clear direction and wait for US to help it go down and they both sink at the open

my current position is on 1. As before from everything I look at, this market is dying to go higher. The closest step before reviewing this set up is 1115.

I think we are no longer in rally mode. we entered a bubble on all fronts. biggest long trades make money in a bubble. Gold has become a unstoppable train. good time to review Tulip Mania

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Thu, 12 Nov 2009 12:18:14 -0000

sure, my stop is at 1082.

the market from here can break significantly eitherway. but I think it will be to the upside. Marker never does what most expect it to do - which I believe is to the downside at the moment. I think there is more upward space.

alternatively you can consider this as buying at the top. you tend to be right more often if you buy a top than try to catch a reversal.

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Thu, 12 Nov 2009 08:14:55 -0000

I'm now fully long at around 1093.50 going into the US open.. I'm expecting a strong move up right from the open and to get around 1115 very soon in the day..

any significant drop to around 1082 and I'm closing this.

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Thu, 12 Nov 2009 03:05:42 -0000

futures have fallen quite a bit.. I'm buying some SP @ 1093, looking to get fully long by US open.

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Thu, 12 Nov 2009 01:14:33 -0000

Asia has dropped but I don't think it will drag europe with it.. I see this as a buying opportunity, I'm looking to load up some FTSE contracts below 5250..

I expect a strong US open later, with SP above 1120 by end of Friday..

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Wed, 11 Nov 2009 05:09:52 -0000

I don't carry that much weight to move the market.

FTSE just touched 5300 and EUR/USD comfortably in above 1.50 like I said few days ago.

either close your eyes and go long or take a vacation.

I'll be looking to go heavily long around US open. SP closer to 1140 by the weekend.

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Wed, 11 Nov 2009 01:49:53 -0000

Closing the short @ 1095.

looking for FTSE to test 5300.

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Tue, 10 Nov 2009 16:13:48 -0000

not paying too much attention to gold, feel it's being manipulated. a lot of dollars of course has been printed > gold rocketing/$. but it's over-reacted. either gold should be closer to 800 or SPX should be 1400 by now.

I find oil more predictive of short-term stocks trends than gold.

if you take a step back - you can see clearly a bubble has developed in a short space of time across equities and commodities.

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Tue, 10 Nov 2009 15:07:12 -0000

this is a pure contrary play looking for SP to drop around 1080. there is just too much optimism around that makes me uncomfortable. also topping action (or resemblance of) of EUR/USD, GBP/USD and oil.

if we go above 1100 I will switch and go long.

I expect vol to pick-up so from here we can break below 1000 or shoot to around 1200 in the next 2 months. I think going higher is more likely but I don't take position on any long-term predictions.

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Tue, 10 Nov 2009 06:29:52 -0000

going fully short @ 1091.00 stop @ 1100.00

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Mon, 09 Nov 2009 07:37:47 -0000

just had a look at the market and EUR-USD just crossed 1.50 and FTSE is trading at 5220.

I think if you have plans to short this market you've picked the wrong week.

btw, I 'may' be starting a side fund to manage other peoples money - the fund itself will be sitting in another fund, probably in the UK. I'm casually asking around for those who are interested. The fund will be purely commodity futures based targeting 10-25% a year. Minimum investment is around $20k. If anyone here is interested let me know.

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Sun, 08 Nov 2009 19:32:39 -0000

this market is still in bullish mode from everything I look at. we can easily see SP 1120+ in the next 4 weeks if volume to the downside doesn't pick up.

several times in the past couple of weeks there has been sharp sell-offs which have recovered very quickly.

At the moment it is still much easier to be on the bull side.

I think USD will depreciate further as a result and we should see EUR-USD +1.50.

I just don't see any reason to go short in the mean-time. I'll be keeping a close eye on FTSE tomorrow and expect to see it closer to 5200 or above.

even if there is any sell-offs I think it won't be consistent and the market will be in this range or higher for a bit longer.

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Fri, 06 Nov 2009 13:02:09 -0000

I'm closing the long @ 1066 until later. mainly due to the fall in oil.

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Fri, 06 Nov 2009 00:46:34 -0000

this is been one heck of a choppy trading range with some losing streak on my side. I got stopped at 1060 again. I've now flipped and gone fully long SP @ 1063. stop at 1050.

I'll think about going short again below 1050.

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Mon, 02 Nov 2009 13:04:58 -0000

this is of course very possible and they can. the fact is the US economy is in a very desperate state and I don't think anyone can imagine the outcome of what has taken place.

if you look at economic history, on very lighter issues there are volumes written on what went wrong and advice given on how it may have been avoided and what to do for the future. but what we're witnessing is total bankruptcy of a country never seen at such scale before.

some very desperate measures have been taken against the advice of everything happened before. economic policies, theories, lessons all out the window.

I think it's very dangerous to make sensible decisions on your career, life etc. in this economy, and if you're starting to feel very comfortable and think everything is sorted you're crazy.

what is really scary is most of the public isn't even aware or understand the problems we face. ye the Fed can announce another 300 bil or trillion, but we've gone beyond that.. not sure how inflation can fix this one.

we've entered the twilight zone and unless the state can trick everyone into an illusion (which has always worked), we face a global economic collapse.

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Sun, 01 Nov 2009 22:32:36 -0000

I put a small short @ 1045 on Friday and just put all the rest in now at 1041. so Fully short here again around 1042 with stop around 1060. I'm sticking to this one again, last time lost around 15-20 points, so looking for this to go to at least 980..

btw I also saw CIT file for bankruptcy, what amazes me is how the US tries to back-door everyone nice any quietly. the country is in disgrace. has no morale or dignity left within it.

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Mon, 19 Oct 2009 02:03:14 -0000

with Oil @ $79 I'm staying out of this one little longer..

Re: CNBC Poll: When Will the Dow Cross 10,000?

KingShort — Wed, 14 Oct 2009 18:16:25 -0000

I got washed out at 1086 as set earlier. all closed. I actually just got home and saw the close thank god I wasn't at my desk since I may have increased the stop. I will need to take some time look at a few things before anything. I'll post something tomorrow. I'm still short-biased and won't be planing any long-trades.

Re: California sells $8.8 bln in notes to record retail demand

KingShort — Tue, 13 Oct 2009 14:48:17 -0000

no way. I think this is my second largest SP position ever. I also moved my stop to 1086 for any meaningless spike.