Did the SP500 just tell me the Market topped on Friday.

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Dan Óg

Dan Óg

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#25
I'm assuming the increase in yield is down to the Fed attempting to reverse QE ?
Well partly yes no doubt as money is in effect evaporating. But as big and most likely bigger is the huge supply that is hitting the market. For example 2 auctions today is selling a total of 59 billion dollars of bonds. So demand is being reduced on one side and supply is being increased on the other.

That could be reason enough for some panicked selling in both the bond and the stock market
 
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Dan Óg

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#28
A very nice day for me but bear in mind I have had almost 2 years of rough days. I have a nice short position here. At about 3.40pm I took a flier on gold rocketing and bought 50 contracts of NEM at a strike of 42.00 for March the 15th expiration, todays close, 30.58.
 
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#29
A lot of money disappeared today so some unfortunates might be looking at margin calls tomorrow morning.

The bonds are up out of fear but believe me, that is a temporary and artificial situation, the yield was going above 3.25 and that is the trigger.
 
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#33
It could be a rough opening. Along with my Call options I put on a small extra short but I did not think it wise to be aggressive as it might bounce back. I could regret that. It is galling to see stocks that I covered my shorts on like apple having dropped 20 dollars in a few days but that is the way it goes I suppose. An explosion in the metals would help me forget about that.
 
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#34
.I will make no trade today as I can't follow the market while I worked today. However, I know I had a good day. It is a great feeling to buy gold mining share calls and see gold jump 35 dollars the very next day. Too bad I was not more aggressive yesterday but that is the way it goes. I am eager to get home and ponder this situation.
 
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#35
We could be in for a cracker today. Obviously the Dow will rise ablot 375 by 10am but that is when the fun should begin. The higher it goes from there, the sooner the buyers that see this as a dip will be used up.I myself will be looking to short something at about 9.50 onwards. There isnothing to suggest that the interests rates will not resume their climb after the few days fall due to fear. I am happy with the metals now as no great pullback is seen, maybe get a fewmore shares there as well. I have a lot of buying powere after the last 2 days going so strongly for me.
 
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#36
And short I did, another 100 LOW at 105.49. All eggs nearly on one basket . I think 8t is going to buckle.
 
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