Disqus - Latest Comments for mattco

Re: Hospital Sickbed Post

mattco — Thu, 26 Sep 2013 22:40:07 -0000

Mole,
Never commented here before but have followed quietly. I wish you all the best for a speedy recovery. You are a real trooper to provide your charts to your subs (and the general public) while you are in the hospital. All the best to you and I hope you feel better.

Edit: Ha. thought it was Mole. In any case. I hope you feel better Scott. Always appreciate your posts. Get well soon.

Re: TarhiniTrade: Writing is Hard, Charts Are Fun

mattco — Thu, 19 May 2011 22:24:11 -0000

Should be interesting action on GPS. When it falls it usually doesn't recover fast. Congrats on a great blog! Can't wait for your next post.

Re: Elliott Wave Update ~ 10 November

mattco — Wed, 10 Nov 2010 22:46:28 -0000

No idea. Could be a clearing trade or could be a fund buying. Who knows. AH price action and clearing has always puzzled me.

Re: Elliott Wave Update ~ 10 November

mattco — Wed, 10 Nov 2010 21:49:17 -0000

Today at 10:31 am JPM stepped in and bought 3.6m shares of IWM in 100-500k blocks. They did the entire trade in under two min. Then they did nothing until 4:02 pm where they traded 3.6m of IWM at 73.55 (the AH high). After they got out the price collapsed to 73.33. It was very strange. The bid was 73.55 and the ask was 73.33 the whole time they were trading. Truly ass backwards. My guess is that they did a nice $250 million day trade while supporting the market. Very messed up if you ask me.

Re: Elliott Wave Update ~ 14 October

mattco — Thu, 14 Oct 2010 21:52:23 -0000

Hello all. Last night I posted about the large volume by the big boys on XLF IOIAs. I also mentioned that you should keep an eye on it. Today it was what moved the market. As far as tomorrow I didn't see anything unusual. JPM pounced on IWM starting at 1 pm with a total of 5m traded today. This is small volume for them. Besides that it was pretty quiet. That's all I have for today. If they start trading again in big volumes I will post it. Good luck.

Re: Elliott Wave Update ~ 13 October

mattco — Thu, 14 Oct 2010 00:55:49 -0000

But Prechter promised me gold at sub $600 last year. Lol Another one of his fine calls. I will give him credit about social mood but the Fed and Obama don't give a crap. They need to choose between saving the system or saving the people. They will choose the system since they believe that if they do save the system they will then be able to save the people. This is something that Prechter underestimated. The anger of the people won't come out until it's too late. Sad, but true. Good luck.

Re: Elliott Wave Update ~ 13 October

mattco — Thu, 14 Oct 2010 00:35:47 -0000

Herres a little update on the IOIAs. The big boys had no interest in trading IWM. The biggest traded about 2m which is nothing, especially considering that JPM has been trading an average of 8m daily. Today JPM only traded 250k. XLF is a different story. GS and MS each traded about 7m and ML traded 10.6m. This is very heavy volume. This is something thing to watch. I can't tell if they were buys or sells but there a lot of interest in XLF right now. Also, did anyone else notice that C started falling apart midday and about 5 min before the close they banged it right back up? Other financials did the same. This is very strange and very hard to do with the larger volume that we saw today. That's all I have for now. Good luck.

Re: Elliott Wave Update ~ 7 October

mattco — Thu, 07 Oct 2010 18:23:05 -0000

Just FYI. JPM is close to have traded 1billion shares of IWM since January 1, 2010. That's just insane and shows you that if retail does not return then someone might have a little problem finding a home for all of those shares. Yes they have traded many of them but I am also sure they are holding many too.

Re: Elliott Wave Update ~ 7 October

mattco — Thu, 07 Oct 2010 18:07:59 -0000

I am not bullish at all but cautious. Yes, bonds are calling BS to this rally but they are not a good indicator right now. The Fed is the second largest holder of treasuries and they are artificially pushing yields down. Yields are dropping because of the fed, not because people are buying bonds. I do agree this rally is tired but that never stopped the HFT machines before. What we need right now is sellers, if we don't get those then we float higher with the machines ticking us up every second. I hate this market and I want the BS to just end so we can have a market that goes up or down on fundamentals not because the dollar tanks or because computers run us up. Good luck.

Re: Elliott Wave Update ~ 7 October

mattco — Thu, 07 Oct 2010 18:00:20 -0000

Nothing crazy. Susquehanna was trading XLF all day long. I think they traded close to 3m, so nothing crazy. GS was active in IWM trading about 5m all day long and JPM traded about 7m of SPY. Once again, nothing crazy compared to normal patterns. The rally is getting tired and they know it. They need retail to step in or they need more money.

Re: Elliott Wave Update ~ 7 October

mattco — Thu, 07 Oct 2010 17:44:15 -0000

I agree. The game is on!

Re: Elliott Wave Update ~ 7 October

mattco — Thu, 07 Oct 2010 17:31:06 -0000

Fed Gov Bullard will be a guest host on Squawk Box tomorrow morning to provide " commentary" on the jobs numbers. Also, they will probably count the election poll workers as people who have found jobs even though they only worked two days at best. I read reports of election workers being told they need to fill out IRS forms before being hired so they can be counted as employed. This differs from the past where they were considered independent contractors. The game continues. Good luck..

Re: Elliott Wave Update ~ 1 October

mattco — Sat, 02 Oct 2010 11:11:55 -0000

Tusker,
Read my comments below on XLF. Probably won't help much but at least it might give you another piece to the puzzle. Good luck.

Re: Elliott Wave Update ~ 1 October

mattco — Sat, 02 Oct 2010 00:26:36 -0000

No idea. They could have been selling IWM and rotating into XLF. They could have been absorbing selling on both. Today's action could on XLF could have been squeezing or could have been distribution. I was not able to figure it out. If we gap up huge on XLF on Monday I guess we will have our answer. I lean towards them being buyers only because XLF has been left behind during this rally and if you wanted to continue this never ending rally then you need some fresh meat. If they can juice the financials here then we could have another few weeks of upside. Look at C today. It jumped on big volume. I won't touch it because it's a huge POS but it could launch higher. It could also just cave in and crater. On one hand this market needs a break, on the other nothing surprises me anymore and we could be launching the next leg up. So basically i have no idea Sorry that I don't have more answers. Good luck.

Re: Elliott Wave Update ~ 1 October

mattco — Fri, 01 Oct 2010 23:40:11 -0000

This market was so annoying this week. That being said I would like to update everyone on the IOIAs (Indications of Interest and Advertisements). The beginning of the week saw heavy action in IWM. JPM and Credit Suisse were heavy traders. I don't recall the exact amount but it was north of 8 million a piece per day. During that time there was Zero interest in XLF. Yesterday Cresit Suisse stepped in and started trading XLF. They traded a few million shares along with other big boys like ML and GS (less than 2m a piece). Today was a different story. JPM was all over XLF from the premarket. They traded over 9 million in tiny blocks (5k). Occasionally I would see a 100k block but it was mostly 5,000 share blocks, two every minute with some every second. At around 1pm Credit Suisse stepped in and traded one block of 6.9m. As far as IWM, today was dead. Very little action. I am not sure what to make of this. Sector rotation? Distribution? New quarter allocation? Whatever it was it pushed XLF and the financials way up. I wish I had more but that's it for now. Enjoy your weekend, Monday should be very telling. Good luck.

Re: Weekend Charts and Stuff

mattco — Mon, 27 Sep 2010 00:44:54 -0000

Hope everyone here had a nice weekend. I was out most of the day on Friday and have not yet looked at the EOD IOIA info that closely but it does seem that we had some action at the end of the day in IWM and XLF. Credit Suisse was very active in IWM trading 9million and JPM tradeda few million of XLF (don't recall the exact amount). It was nothing earth shattering and I don't make anything of ot yet but I would watch those two as they will lead us up and lead us down. BTW, anyone else spooked by Tepper's interview and timing of the interview? I mean the man had a year and a half to tell the world how bullish he was and yet he waited until now? Really? Sorry, but I don't take advice from complete narcissistic coke heads. He did have a valid point but that point was almost two years ago, not now. Yes the fed can continue to levitate the markets but not forever. Sounds like he needs Joe public to step back in to buy his crap. Thoughts?

Re: Elliott Wave Update ~ 27 August

mattco — Sat, 25 Sep 2010 18:26:20 -0000

Gary, shoot me an email at matt (at) Mattco (dot) com. I will send you the IOIA info for Friday. I don't manage money, I just trade my own funds. You can post whatever I send you on your website as it is easier for me to send you a screenshot that you can upload. Looking forward to hearing from you. Please include your website address when responding. Thanks.

Re: Elliott Wave Update ~ 23 September

mattco — Thu, 23 Sep 2010 23:34:31 -0000

As the old KTel commercials used to say "I'm sorry brutha, but ya gonna have to get ya own". Lol

Re: Elliott Wave Update ~ 23 September

mattco — Thu, 23 Sep 2010 21:43:33 -0000

I follow IWM, XLF and SPY because those are the etfs that the big boys play with. The market does not move with them. They are consistently on the top of the most active IOIAs (indication of interest and advertisements) on my Bloomberg. Before any big move there will be big volume listed. The IOIA function is basically a way for dark pools to trade with each other. It is not a great indicator by itself as most list their trades as " traded" instead of buy or sell but if you watch the price action and volume it can help you from being caught before a big move.

Re: Elliott Wave Update ~ 23 September

mattco — Thu, 23 Sep 2010 19:52:33 -0000

Hello all. Here's an update. JPM traded a ton of IWM on Tuesday thru today. If I recall correctly they traded around 7million on Tuesday, 13 million yesterday (most in the am) and 3.8 million today (all in the am). Also ML traded over 10 million in XLF today. I can't be sure but it looks like distribution. Please don't trade based on this info as i can't tell if they are buying or selling. When JPM was hitting IWM yesterday the price continued to drop. At one point they traded 28% of the volume of IWM which is crazy if you ask me. When they stopped trading the price began to rise. Maybe they were absorbing selling or maybe they were selling into buyers. I can't even imagine that they would be buying more up here as they have traded over 90 million this month alone. That's all I have for tonight. Good luck and enjoy this chop fest of a market.

Re: Elliott Wave Update ~ 16 September

mattco — Fri, 17 Sep 2010 02:28:29 -0000

Just looked. Huge trades on the 111's. I have 12 blocks of 99,000 going through between 3:53 pm and 4:11pm. From $2.02- 2.20. Someone Made a large bet with one day left.

Re: Elliott Wave Update ~ 16 September

mattco — Fri, 17 Sep 2010 02:16:26 -0000

I will right now. While I am doing that, the big 3 things that are traded by the big boys are IWM, SPY and XLF. If you watch those three and the options you get a good idea of where they are looking to move the market. At decision points like now it is a hard call but in a day or two you will have a very good idea. Watch the options. The big boys have been sellers of large blocks when the markets get to ahead of themselves. It is almost perfectly timed.

Re: Elliott Wave Update ~ 16 September

mattco — Fri, 17 Sep 2010 02:00:59 -0000

They could be absorbing selling as people may be taking profits near a major point. Other players are always hovering around SPY so maybe that's why it has stayed so strong vs the RUT. There are probably many other possibilities but I am tired. Have a nice night.

Re: Elliott Wave Update ~ 16 September

mattco — Thu, 16 Sep 2010 17:23:32 -0000

I was saying they were new positions that were opened as "sells".

Re: Elliott Wave Update ~ 16 September

mattco — Thu, 16 Sep 2010 17:22:10 -0000

I am not stating a direction or guessing anything about the market. I am just curious why one would make that big of a trade one day before they expire if they thought the market was going to fly. It would be much cheaper to buy the $15 calls for .01.