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New Video: One year later, reality sets in for the S&P500
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———– V ——— cutting through 40SMA and —- ONB — held under it. good for me so far.
February 24th, 2010 at 1:18 pm
TOOK THE 30% PROFIT … on most of the position.
this back up to 1105 and the VIX barely holding and the CPC breaking my trendline id like to lighten up a touch.
———— BAC ———— trading higher is quite funny no. they just keep diluting and the price of the shares hold up? im hearing they are diluting the share count again. confirmed ??
February 24th, 2010 at 1:14 pm
http://stockcharts.com/h-sc/ui?s=BAC&p=D&yr=0&mn=6&dy=0&id=p25088602712&a=190186487
rich – you’ve gotta see this chart. we’re hitting that long term resistance line. still not bullish till we’re over it.
February 24th, 2010 at 1:19 pm
If it hits $16.50 it’s going to $18.00 IMO..Ibought it at $15.76 a few days ago and just sold @ $16.25 I should of held on but a profit is a profit..I just don’t know how long this rally is going to last…Just took a swing trade on EDZ @ $5.67
February 24th, 2010 at 1:31 pm
yeah…that 16.60 area..if it breaks and the trend lines converge there during the break, u could get a huge rise.
it looks like the XLF is breaking out of a channel made from the highs from Jan. and Feb.
February 24th, 2010 at 1:25 pm
long term xlf needs a confirmed break above the 14.65 level, then..it could get a really healthy rise.
http://stockcharts.com/h-sc/ui?s=XLF&p=D&yr=1&mn=9&dy=0&id=p80218895859&a=181585157
February 24th, 2010 at 1:26 pm
is this the only thing that rallies. banks?
my MRK is recovering. i took profits on V just below the 40SMA. just seemed fishy. im thinking we end up with an indecisive inside day. if MRK gets back up to $37.40ish … im pulling the plug on it.
February 24th, 2010 at 1:31 pm
PBI ………… LOOKS STRONG TOO … chart really shaping up. im done with this one for a while. im almost done with this market for a while.
if i ever completely quit trading you will know to go Ultra Short as this whole scheme will come unravelled the day after i quit
February 24th, 2010 at 1:33 pm
looking at the 15 MIN SPX …………… cant make any sense other than we are at resistance and the volume is very light.
Notice a different trend you guys? Dollar is getting stronger usualy marked goes down but today dollar getting stronger and market climbing with it. Reassurance from Uncle Ben that rates will continue staying down makes everyone so happy. Yet worse housing starts doesn’t faze this BS market one bit. Oh wait I almost forgot consumer sentiment carries more weight! Manipulation at ist’s best! Choo Choo train to paradise still a chuggin along.
February 24th, 2010 at 1:38 pm
what im finding CREEPY ………….. NOTHING is happening. no volume of trade for TWELVE 15 MINUTE BARS ………. 3 HOURS
IS THIS A ………….. GAME OF CHICKEN. is that we are all apart of. a few large traders playing chicken to see who will pull the trigger long or short first?
im not so sure, even if we do head lower, that im interested in trading against a few big players playing chicken.
mr woo..
when you get some time , can you comment and chart AMZN and AGU
thx
February 24th, 2010 at 1:35 pm
according to charts…;the market and lots of the leading stocks, ie JPM and GS have visited the 50MA…these are leaders and markets should follow..but this grinding is driving me nuts…nuts i tell you.
February 24th, 2010 at 1:39 pm
nuts is an understatment, if you ask me
February 24th, 2010 at 1:43 pm
http://stockcharts.com/h-sc/ui?s=AMZN&p=D&yr=3&mn=5&dy=0&id=p26025705517&a=181646175
amzn just rose above a long term trend line and some fib clusters. at the moment it’s bullish. needs to break strongly below the $19 area again, and into the low 18s to be safe.
February 24th, 2010 at 1:44 pm
but it’s cracked below this area a few times and has been coiling the last few days. it is not a confirmed break north, but it’s still a very risky position to be short in this at the moment, until it dips like i just mentioned above.
February 24th, 2010 at 2:04 pm
Thank you woo, I`m waiting for the next drop for AMZN and I`ll bail on my puts, they are of the March expiry so it`s not fun holding them here.
This will become really funny, one day. Still short
February 24th, 2010 at 1:35 pm
and underwater
February 24th, 2010 at 1:39 pm
GAME OF CHICKEN ……….. this is completely bizarre.
February 24th, 2010 at 1:41 pm
right at the tippy top of the big red candle from yesterday morning. who would want to buy here other than two big boys playing a little game.
SAMMMMMMMMMMMMMMMMMMMMMMMm …. we need you. call
the BIG BOYS and ask them what on gods earth they are doing.
holding the market here and loading up on PUTS?? or the
other way around.
February 24th, 2010 at 1:44 pm
bizarre, crazy, nuts
call it whatever you want
This game will end. Currencies mad, commodities mad, equities even mader.
Not to speak about the people who don’t understand what’s happening, don’t even ask questions, they just don’t want to know. So that makes it easy for MM, but still, it can’t last.
I`ve finally decided to shorten up on my puts, sold CAL mar puts. Still holding SPY, AMZN puts.
February 24th, 2010 at 1:44 pm
I`m thinking Nov this year is the mid-term elections in the US. Are they really going to allow this market to tank before that? I`m thinking this market will go up/sideways until Aug-Sep and then start going down. So, unless we break 1025-1030, I`ll be staying on the long side and hedging the down side.
February 24th, 2010 at 1:53 pm
im wondering ……….. when i just sold my V puts under the 40 they sure got snapped up quick. this action here so we unload our puts to those who know they gonna tank this thing,.
ALL SHORT TERM INDICATORS for me ………… NEUTRAL. dont like having a position on a coin flip. im thinking im only leaning bearish because im a stupid fuzzy bear. neutral or slightly bearish and im in.
$VIX just sitting right on the mark. huvvering, waiting.
February 24th, 2010 at 1:56 pm
just look at the last SIX DAYS volume in ONB. and now look at the candle pattern. this pattern played out before with a big rush flush up and closed lower than previous day.
February 24th, 2010 at 2:03 pm
If I had shares short I would hold, but holding March puts is not the best thing in a sideways market. I wouldn`t be surprised to see this market grind higher from here.
I really don`t believe this is the start P3 or any kind of a strong down move. Looks like a small cup and handle forming on the daily, specially if we get more consolidation from here.
————- AN —————- anyone else get some $0.10 PUTS …………. this one is looking bearish on all indicators. and the price is moving nowhere. gonna crack ??
the 50ma and 200ma have crossed. and we’re above both on the 1 month/5 min.
remember a while back i talked about the next wave being fairly quick and that the 4 wave down could be over in one day.
well the down movement was 1 day. and unless this market is going to really plummet fast and furious, it’s running out of time. the last down wave was 3 days. this thing needs to end quickly, or start rushing down towards a new 1 wave south.
at the moment i’m leaning more towards the possibility of a rise above the 1112 area. place stops on any call positions taken, it may have bounced off a 38% fib projection, and the smaller charts can still consolidate or head south to offset some RSI.
February 24th, 2010 at 1:59 pm
1102.5-1103 is the 50ma-200ma
February 24th, 2010 at 2:02 pm
i stress the importance of setting stops because the H&S formation can still complete a good amount lower. this is a test position. slightly above one trend line, slightly below another.
February 24th, 2010 at 4:04 pm
Woo,
Followed your call for healthy rise on SPY to 1105 area. Noticed flares to it yesterday. Made a quick 3K today
February 24th, 2010 at 2:01 pm
as this day progresses…. you can see my bearishness subside and my crack call fade into never never land. out of some V puts for +30% . how they get the market to float up on fumes is AMAZING. but they keep doing it so. go with it?
LOOKS LIKE YOU WONT be seeing me for a bit. i promised id quit for a bit if i dont get my crack day. sub 1090 …………. only 2 hours to do it. it can be done in 15minutes but im losing faith.
February 24th, 2010 at 2:03 pm
———– AN ————– take a look a this one WOO.
have a target of sub $15. put a chart up at the top.
February 24th, 2010 at 2:05 pm
i’ll try and chart it a bit later. a little busy at work. thanks for the heads up.
February 24th, 2010 at 2:04 pm
Richard I feel you man, I going through same crap…
February 24th, 2010 at 2:06 pm
now that i took off more than half of my $85 VISA
it will run to $80 tomorrow
February 24th, 2010 at 2:08 pm
i shorted POT and it stop me out at spike then dropped $2… I feel like every time I short something I should tell other to buy
woo any thoughts on RINO.. I am looking for swing trade
February 24th, 2010 at 2:07 pm
probably won’t have time to chart during market hours today. but will try and take a look later.
February 24th, 2010 at 2:11 pm
woo, RIG is broken to downside..
February 24th, 2010 at 2:12 pm
yes it has. let’s see if it breaks the 79 lows of december.
February 24th, 2010 at 2:14 pm
79 should be there few min
doesn’t it follow oil?
looks like it’s going to coil a bit more as expected to bring down that RSI. the more it coils, the more bullish it is. the longer it stays between 1102.5 and 1105 the higher the likelihood of break out higher for the day.
February 24th, 2010 at 2:22 pm
totally agreeeeeee. earlier i was posting we need to get back below 1102. but go back in the chart and you can see the move above 1102 was not that strong despite being the strongest move on the day. the volume confuses things.
February 24th, 2010 at 2:23 pm
the way this day has weant we should see a decent move on volume near or at the close imo. some on either side of the trade will want to limit risk and simply get out.
February 24th, 2010 at 2:25 pm
yeah the volume makes things a bit queasy. also isn’t nice that it stopped near a retrace to confuse things a bit.
————– GOOD NEWS IS ————- my account is FLAT on the day. which is probably far better than anyone in SRS or FAZ which ive been constantly posting warnings on.
February 24th, 2010 at 2:09 pm
———– MRK ———- im bailing . the chart looks like something id short
February 24th, 2010 at 2:12 pm
if any volume enters this market im seeing it going down. they have simply been floating this up for whatever reason. the reason is usually motivated by trading profits. BULL or BEAR … this action has to make you nervous.
anyone knows what’s up with FCX? It’s not following market today
February 24th, 2010 at 2:19 pm
take a look at HMD.TO …… ive been posting this ETF. its base metals inluding copper. its shaping up quite explosive. HMD.TO is a leading indicator for the economy. if this thing flies higher expect …. “expect” the broad market to follow.
February 24th, 2010 at 2:20 pm
HGD.TO follows the gold miners down. just because gold is inflated here does not mean the miners will get rich. they stil have to find more gold and get the crap out of the ground. its getting more and more expensive to find and mine. this risk is for FCX too. double whammy my friend.
February 24th, 2010 at 2:27 pm
Richard, HMD.TO doesn’t open anything for me ON thinkorswim
Here’s an interesting tank on the most recent treasury auction. Perhaps another clue as to where we are headed soon!
http://www.gainspainscapital.com/index.php?option=com_content&view=article&id=231:something-very-strange-is-happening-with-treasuries
February 24th, 2010 at 2:14 pm
Meant to say “interesting TAKE”.
February 24th, 2010 at 2:15 pm
what’s real means nothing to market or govt!
———— MTD ———— some volume sell orders entering . look what happens !!!
February 24th, 2010 at 2:17 pm
whomever is buying, which i suspect is MTD themselves because they have a buy program and nothing else to spend thier cash on. its anyones guess in these instances if they can afford to soak up all the supply above $98.
find out this week im thinking.
I wish we have live chat here
February 24th, 2010 at 2:27 pm
there’s a livechat in the social section. problem with livechat is that for the number of people that view and comment, it can get pretty hectic pretty quickly, and a lot of comments can be passed up and overlooked.
i would like a googlewave type chat feature, but generally comments keep things more manageable for everybody =)
richard…is there a H&S on AN starting in November???
Head in Jan.
the 23.6% retracement from the October lows to the Highs is the neck line
February 24th, 2010 at 2:34 pm
IM JAMAZED I COULD BUY ………….. APRIL 15 PUTS FOR A DIME
its again trading under the 20SMA. this thing has to crack . the chart says so and the fact that GOV made a program for vehicle purchases that simply borrows from tomorrows demand makes me SUPER BEARISH and i cant be the only one that thinks this way. if the shorts get in here it could really move fast.
February 24th, 2010 at 2:35 pm
11% short interest of float according to shortsqueeze.com
compare that to a toppy stock like VPRT that has 24%
February 24th, 2010 at 2:43 pm
ITS NOW THREATENING TO HEAD back to the low of day and a close below that would really attract bears to short this stock. only traded half the daily volume thus far. looking for a close sub $17.90
remember, before the CASH FOR CLUNKS the auto industry was in absolute shambles. this stock was under $10. the GOV has run out of bullets,, for now,, to save this industry.
—————- $18.02 ————
————— CHEAP MONEY KEEPS THE GAME GOING? —————— look at LENNAR. they are betting on recovery. the banks that failed and released mortgages to the FDIC were bettting that people would pay them back on mortgages. this cheap money is creating new speculators. the people who lost their credit ratings recently lose assets to a new group of people who still have a good credit and get some of this cheap money. so now a whole new group of people can get burned this time around. is this right ? only im thinking that most who did not get harmed in this crisis are risk adverse and less likely to take this cheap money and this is why we see low demand for loans.
market sitting between the 50ma and 200ma on the 1month/5min how fun =)
This still looks like consolidation with one last push up to come – thoughts ?
February 24th, 2010 at 2:39 pm
Still not convinced this is the break …. I see one more move to frustate the bears and then move down into the close ….
February 24th, 2010 at 2:39 pm
dont say that
volume seems to move stocks in one direction. and we have yet to see any volume in the trade here.
1100 ———– two bar break up on the 10 minute.
big drop. watch for the retrace of the last rise around here.
a drop below 1101 could mean a larger drop to come.
February 24th, 2010 at 2:41 pm
I hope your right abut larger drop to come
my SDS are looking sweet
February 24th, 2010 at 2:46 pm
barely cracked below 1101. depending on how long term you are holding those sds, i would consider raising your stops to lock in some profits. where u set the stops will depend on conservative you want to be.
i think smartest thing i did today buying 5k shares of SDS at 34.91
….I am still following my nose….we topped for today and hopefully I will break even…
..I don´t want to short for tomorrow…I don´t like when different approaches (TA & EW) are showing opposite scenarios…..
…this is my position for scalping only…..I am still very BEARISH in mid term…we may drop very hard next week
February 24th, 2010 at 2:43 pm
i am with you on that. market is not showing strong bearishness at the moment.
always best to invest in areas of most resistance/support.
Why does the market tank when I sell my puts? hahahaha
I`m still holding AMZN and SPY. Close below 1090 today and I`ll buy some more puts.
———–EDZ————- Took a swing trade here @ $5.67 i just do not see too much more upside and if employment news is bad we could tank tomorrow..but my stop is @ $5.60 and right now EDZ is @ $5.73 so im already in the money lets see how this plays out..
———— $VIX ———— holding higher low. one hour to go.
———— $CPC ———- holding a higher low too.
February 24th, 2010 at 2:55 pm
the volume in the market has been horrid. ive watching these more than my positions. they say we head lower. the tape is too confusing.
February 24th, 2010 at 2:58 pm
FIRST THREE 30 MINUTE bars in one direction since coming off 1095
this makes the case stronger that 1095 support and 1105 resistance. range bound we could be. 1100 ————- right in the middle. do we put in an inside bar doji today ???
February 24th, 2010 at 2:59 pm
– 1101.50 — 80 SMA DAILY on the SPX
the daily chart now looks neutral. a move
below this will give bears a case.
The big morning gains were the dipper buyers the fed has kept on life support.
Pick weak stocks and ride em cowboy down. Yesterday’s record drop in C.Confidence is
the key, tomorrows employ’t will be very sick, again. Its hard to do, ignore the intra day, its
the closes that are controlled by the pros and intimate market direction.
The new shortselling rules say they expect something big and want to act ahead of a
oncoming plunge.
Gold tells me ignore the up market, PM’s heading much lower.
February 24th, 2010 at 3:01 pm
watching the tape only would cause you to crater. keep an eye on key indicators and that 80 SMA on the daily. its an important moving average.
February 24th, 2010 at 3:04 pm
CASE FOR THE BULLS. this candle pattern set up prior to the move to 1150 … look back to MID DECEMBER…. but be mindful that the move then was under different circumstances as the 40 and 80 SMA pointed higher. candle pattern is a candle pattern and that is the thing that has me most nervous.
February 24th, 2010 at 3:02 pm
bears are putting up quite a nice fight here. there’s a 2 day trend line that’s been holding. let’s see if that gives.
Holding HGD.TO for nice gain, short IOC and will add to ioc short on close.
HGD is cheaper than an option on weak gold and a contra move into the usdollar.
I ‘feel’ a $50-70 drop day for gold just ahead.
IMO we are going much, much lower after drawing in every single long trader into the
fray. Be careful.
when i look at the chart…it still seems bullish…
February 24th, 2010 at 3:11 pm
minus the volume of trade i agree. took a bit of the table on this last dip. it seeems when volume enters we fall so im not ready to give up being a bear.
however, still no crrrrrrrrrrrrrrrack. does it come one day later? we should have an answer on short term direction by end of week. if we go sideways im favouring more sideways and that is bad for options.
February 24th, 2010 at 3:12 pm
i doubt that this will move sideways till friday. it start moving before the day is over.
February 24th, 2010 at 3:12 pm
*should start…
February 24th, 2010 at 3:32 pm
we move on the JOBS REPORT …. no ? jobs good or bad the market will move in a direction. good report does not mean up market. im just thinking we move on or just ahead of that report.
this market loves to move overnight or pre-market.
February 24th, 2010 at 3:35 pm
it might do the whole….
move in anticipation…
wave 1 was 3 days. wave 3 was 5 days. wave 5… 4 days?
February 24th, 2010 at 3:37 pm
which means that if it’s a wave 5, it has till friday to get to the 1120s if that’s where it’s headed…
unless this is going to drag out SUPER long at 5+ days? at that point i would start thinking it’s a correction happening after the 3 wave…
i would like to see 1109 or 1113 tomorrow.
February 24th, 2010 at 3:15 pm
MTD is saying what im thinking the market does when people decide they want out. their is a nice bid in this one at $98. but if that bid gets exhausted ?? we can see the SPX has a nice bid at 1095. see if these bids are enough to absorb the supply. GOOG insiders sold into strength. how many CEOS are saying they look forward to a great 2010 and then sell ?
February 24th, 2010 at 3:19 pm
i don’t think anybody is looking forward to a great 2010. unless by great they mean a lot of cost cutting.
February 24th, 2010 at 3:19 pm
This guy was just on http://www.bnn.ca
small investor using strict T/A on short term basis and doing
super well. Engineer by trade, his approach is netting huge
returns on the toronto exchange by elimination of risk.
Long only so boring to this site, ^50% on just simple buy sell formula
on blue chips. Wish i’d thought of that.
http://marketjockey.blogspot.com/
February 24th, 2010 at 3:28 pm
minimizing risk is probably one of the most important arsenals for a trader. the more high probability trades over a long period of time the better. it’s like poker, or vegas. good times.
a lot of stock move north but Goog is down quite bit.
———– HMD.TO ———- looks like a very high probability trade which is not good for the markets in the near term. if basic metals get weak it points to weakness in the economy a few months down the road. it is a leading indicator.
————– PBI ———– is one of the things i unloaded on that dip. its getting stupid bullish looking . so i guess that debt wont catch up with them. buyers galore.
February 24th, 2010 at 3:48 pm
took DTG off ………….. took most of V off ……….. took PBI off………
took part of ONB off and only added more AN puts.
took MRK calls off
GOOD LUCK TOMORROW !!!
February 24th, 2010 at 3:51 pm
looks like ur playing it safe. think it’s a wise move. when the charts scream at you, u go for it. no need to get baited in a market like this.
February 24th, 2010 at 3:55 pm
woo,
i simply cracked before the market did. i have a bunch of things that say we head lower than the actions say nothing. the chart is indecisive. longer term indicators say economy gets worse.
however, this market is purely a game and it detached from reality and we all know that here. it is far from easy to trade.
im super bearish AN so im going to add to it should it break the trendline i have in my chart.
today was CRRRRRRRRRRRACK day. i cracked
i can now put a check mark next to this on my calendar.
February 24th, 2010 at 3:57 pm
i get out of PALM because everything bounces back up the 20 SMA and then it just tanks again. give up my winners and add to my losers and a break is required when you run like this.
hopefully no one else is doing the same thing or following me down this path. when you trade great for 2 weeks maybe its a good idea to sit out.
February 24th, 2010 at 3:58 pm
lol. stick to the solid positions.
i also am still leaning long term bullish, but would not at all be surprised if we ended up rising to highs above 1150. have to play this market carefully here because 3 complete waves have happened upward from the 666 low.
if wave 5 hits, anyone short is going to be eaten alive. last thing i want to see is a board of angry posters who shorted all the way up to 1150+ if it happens haha.
February 24th, 2010 at 3:58 pm
oops i meant, i am alos leanring long term BEARISH.
February 24th, 2010 at 4:06 pm
Woo – so we take the move up from the lows as 3 waves, then wouldn’t wave 4 retrace have to be lower than the 1044 ? Or was that enough ?
Could you also post an update on what the recognition points could be for a move either side ?
February 24th, 2010 at 3:56 pm
bipolar market is highly confused … …
February 24th, 2010 at 4:00 pm
i often consider it a pms market (no offense), except it happens more than a few days out of the month these days…
February 24th, 2010 at 4:08 pm
No offense taken – its behaving exactly like that !!!
1105.3 break north, and it could get interesting…
February 24th, 2010 at 4:01 pm
held! bravo.
February 24th, 2010 at 4:02 pm
Woo – pls post your 5 min charts up top when you get a chance
I am short and underwater and really rethinking … will look at my positions in the evening with a calm head …
February 24th, 2010 at 4:06 pm
sure thing. might not be for another 2 hours though.
February 24th, 2010 at 4:08 pm
That’s fine …. I will take a look in the evening … need to get back to work
February 24th, 2010 at 4:07 pm
Woo – so we take the move up from the lows as 3 waves, then wouldn’t wave 4 retrace have to be lower than the 1044 ? Or was that enough ?
Could you also post an update on what the recognition points could be for a move either side ?
February 24th, 2010 at 4:27 pm
i’ll try and post a more thorough update.
———— ARE WE TOO BEARISH. ARE PEOPLE REALLY GIVING UP ON EQUITIES ??
http://www.cnbc.com/id/35564527
more and more deals happening. big companies making big bets that the future looks good for business. are we so sure about this idea the end is near for equities? have we had our minds in the gutter tooo long and cant pull away from these thoughts?
this move today puts alot of doubt in my mind.
February 24th, 2010 at 4:41 pm
well bernanke seems to be saying rates are going to stay low. they just passed a jobs stimulus bill ahead of jobs reports.
February 24th, 2010 at 4:52 pm
woo,
if the market wants me to go crazy. then its winning
look at ZALE. it beats based on closing all those stores. are these companies fudging the numbers hoping to attract investment. is this all a big show?
I just wanted to thank big boys about what they did today which were excatly what I told you they are going to do about 25 hours before. Thank big boys, thank you, we love you and we follow you always, no matter where you go we will with you, GO GO big boys GO
February 24th, 2010 at 7:16 pm
Hey Sam ,
What stocks are the big boys buying or selling ?
What do you think the market will do Thursday
thanks
Got stopped out of my ERY trade @$11.59 (bought @$11.50). Closed @$11.57. Oh well……. I will try again tomorrow.
Sam, I watched your posters for severqal months and your big boy theory seems work very well. You told me once that was based on your psychic.
Can you share with us anything else you based to guess the big boy’s move? Thanks!
February 24th, 2010 at 5:34 pm
LOL.
Sam will be a guest on cramer this thursday .
For AH’s market move, tomorrow morning could be a small gap down
The indices locked in a sell signal for tomorrow, but I am not buying it.
The expectation is for a small loss (3% loss. My portfolio is positioned for all three, so I could care less.
February 24th, 2010 at 5:07 pm
* What the …? I hit submit and it cuts off parts of my post?
Here it is again:
The indices locked in a sell signal for tomorrow, but I am not buying it.
The expectation is for a small loss (3% loss. My portfolio is positioned for all three, so I could care less.
February 24th, 2010 at 5:09 pm
What the heck is going on with ST?
I hit submit again and it cuts off my post again. I’m done.
Expectation: less than 1% down tomorrow
Surprise: continued uptrend
Bigger surprise: greater than 3% loss
If it doesn’t work this time I am not going to post for the rest of the week.
February 24th, 2010 at 5:13 pm
did it work?
February 24th, 2010 at 5:21 pm
Yeah, it did.
I don’t know what it was. I think it might have to do with my use of round brackets and % signs.
February 24th, 2010 at 5:30 pm
don’t be breaking our website and comments section. you break it, you buy it =)
February 24th, 2010 at 5:36 pm
I had the same issue 02 weeks ago….ST missing my posts..I was thinking that I was red flagged for some reason..
..and you Woo ….did not answer my question about it….
February 24th, 2010 at 5:47 pm
oh sorry. i sometimes don’t get to look over every post. i think fritz might be right or it could be a temporary server issue. i’ve had times where it tells me i am posting too quickly, and no matter how long i wait, it won’t let me post again.
when things switch over, and we revamp the site, hopefully we won’t have these problems anymore. bear with us a bit BB. thanks!
February 24th, 2010 at 5:54 pm
Accepted!!! Thanks Woo
February 24th, 2010 at 5:57 pm
Woo and Fritz
Yesterday you too made a great forcast that market would move up today.
From peak shape analysis, after Feb 5, market could reach top on Feb 21, now is on topping formation process and wouldl move down after that.
From aconomic data, GPD and earning seems pretty good, adn market could move north.
I am learning EW now. If I assume P1 start on Feb 5, can I assume Feb22/23 could be P2, and today could start P3 and market will move up sicne RSI only reach to 61 on Feb 21. not belong to overbought.
Please advise. Thanks!
February 24th, 2010 at 6:32 pm
let me try and take a look a little later. ahhh…the joys of EW.
February 24th, 2010 at 6:10 pm
Anything that decodes to an HTML tag will cause its HTML function to be executed instead of being printed. Per cent signs with certain characters following are converted into specal characters. Greater-than and less-than operators, often called angle brackets, surround many HTML tags. I made this bold by putting b in angle brackets at the beginning and /b in angle brackets at the end.
February 24th, 2010 at 6:11 pm
And I doubt if anyone can “fix” that very easily.
February 24th, 2010 at 6:19 pm
oh that makes a LOT of sense. good to know. thanks uner
February 24th, 2010 at 6:13 pm
Thanks Uner.
February 24th, 2010 at 6:23 pm
See box 45 below
Hi Guys,
Who is holding for tomorrow?
I shorted SPY but I am still under water. Anyway set stop orders to 111.30…
I don´t like this whole mess…probably I will be stepped out..anyway I am still very bearish….
February 24th, 2010 at 6:01 pm
I use AXP to gauge if we have exited P2, and it closed 2 pennies above P2 support line yesterday. Today, it gapped up but had a low volume rise, and then a slower bleed, ending the day with about 45% of trading volume within the final hour. If it confirms an exit from P2 territory, I will let you know. AXP was leading indicator of the DJIA moves last year, and is still good indicator this year.
MACD is about to have a zero crossover (to the positive side), so be careful shorting.
February 24th, 2010 at 6:14 pm
….questions:
How did you find that AXP is as leading indicator? Most blogs prefer GS….is there any reason for it?
February 24th, 2010 at 6:35 pm
If most blogs prefer GS, then GS is not.
AXP triggerd buy signal on March 2/3 2009. DJIA triggered on March 6 2009 based on the indicators I use.
AXP triggered short term sell on May 8 2009; DJIA triggered on June 12 2009.
AXP triggered intermediate term buy on July 6 2009; DJIA triggered on July 10 2009.
AXP triggered short term sell on September 17 2009; DJIA triggered on October 19 2009.
AXP triggered buy on October 30 2009; DJIA triggered on November 3 2009.
AXP triggered sell on November 18, November 25, December 24 2009 and January 12 2010. These are long term (>15 month) sell signals. The DJIA triggered the first of such signals on November 25, December 30 2009, and January 13 2010.
I love American Express for its Cards, and its stock
VIX buy (sell market short) signals were triggered on October 19 2009 and January 19 2010. I am waiting for it to get triggered again, because those are juicy bear drops!
February 24th, 2010 at 7:37 pm
….thanks…by the way which indicators do you like to use? Would you mind to share your strategy?
..I am a TA strategy collector…..
I have several stockcharts links that usually I check on daily basis….
February 24th, 2010 at 7:40 pm
the one below..VIX…I collected from Cobra’s site…by the way it is bearish because it is reaching the lower envelope…do you have any suggestion to improve it?
http://stockcharts.com/h-sc/ui?s=$VIX&p=D&yr=1&mn=0&dy=0&id=p64005010486
Okay, now, folks, ‘fess up. Which of you made the first and third trades reported below for SPY after hours?
SPY
SPDR Trust Series I
Feb. 24, 2010 Market Close: $ 110.82
After Hours Trade Reporting
Last: $ 109.7965
After Hours High: $ 110.8608
After Hours Volume: 10,900,416
After Hours Low: $ 109.7965
Trade Detail
Time Price Volume
17:50 $ 109.7965 201,333
17:50 $ 110.75 10,000
17:49 $ 109.7965 201,333
17:49 $ 110.75 3,900
17:49 $ 110.75 4,400
17:49 $ 110.76 1,000
17:47 $ 110.76 100
17:42 $ 110.76 100
17:42 $ 110.75 100
February 24th, 2010 at 6:05 pm
Some small fry from a couple of pages down:
16:46 $ 110.6752 14,260
16:46 $ 110.6905 28,200
This is all setting up a long trap, careful. Right shoulder extends up and then
drops. Advances usually marked by lowering volumes.
We gap down big tomorrow, i suspect it will be either the employ report showing the
last 5 jobs in america leaving for the far east or perhaps the ‘rumors’ from greece
saying germany’s rescue will be rejected with greeks (don’t laugh at this too soon!!)
demanding german money for war reparations.
Just updated BIDU on my system. Exhaustive pattern observed today, so it should begin selling off tomorrow. Too bad I did not have Internet access during market hours today. I will look for entry after 10:30 am (avoid the morning rush madness).
This is in a bold italic font
This isn’t.
Here is a screen image of what I entered to generate the above two lines: http://i50.tinypic.com/2hs7ujm.png
February 24th, 2010 at 6:38 pm
luckily i know how to program in html. this means we can stick some fun things in these comment boxes haha.
Canadians – Richard
What brokerages do you use? I’m looking for a new one.
Thanks
February 24th, 2010 at 6:49 pm
BMO Investorline, if you’re in TO let me know and I’ll show you how to set it up as easy and quickly as possible.
February 24th, 2010 at 6:50 pm
I believe uses Scotia Bank.
February 24th, 2010 at 9:40 pm
Thanks I’m with BMO and have been for 12 years but I’m getting sick of my stops not getting triggered. I’m thinking a brokerage with ECN trades would have less mess ups because there is a direct to exchange transaction.
Interesting that today there was a huge block sale of iShares emerging markets etf, courtesey of Cobra’s blog:
http://lh6.ggpht.com/_APmrYvpA45s/S4WeEsjauGI/AAAAAAAAGnQ/3odq7f-djF4/s1600-h/1%5B2%5D.png
February 24th, 2010 at 7:31 pm
…Brazilian stock exchange closed red (about -0.5%)…
February 24th, 2010 at 7:33 pm
…by the way..I prefer to use EWZ
February 24th, 2010 at 10:01 pm
I like EWT