Blue Chip Bulldog - Latest Comments in Anatomy of a Sell-off

Re: Anatomy of a Sell-off

Ashok — Fri, 30 Oct 2009 15:32:06 -0000

Thanks for taking the time to say hello......yes, all is well and not much
to complain about......good to hear that you are making time for
yourself.......this market is displaying extremely bullish
characteristics....one step down.... 3 higher......just keeps chugging
along.....though some individual names have gotten slaughtered pretty
ruthlessly.......

Wishing you the best,
/\shok

Re: Anatomy of a Sell-off

GreekGod — Fri, 30 Oct 2009 15:31:30 -0000

gambling is more like it evb

Re: Anatomy of a Sell-off

GreekGod — Fri, 30 Oct 2009 15:31:10 -0000

Neither do I but in this case it might work like last week i held and
made some nice coins.

Re: Anatomy of a Sell-off

GreekGod — Fri, 30 Oct 2009 15:30:48 -0000

Good run so far Taz

Re: Anatomy of a Sell-off

InthePink — Fri, 30 Oct 2009 15:28:19 -0000

hahahah, is that from Fred Willard in MIghty Wind?

http://www.youtube.com/watc...

Oh, and the Giants lost

Re: Anatomy of a Sell-off

InthePink — Fri, 30 Oct 2009 15:27:38 -0000

touche

Re: Anatomy of a Sell-off

InthePink — Fri, 30 Oct 2009 15:26:58 -0000

You know it certainly might... that would make an 18 pt intraday
range, which is totally doable

Re: Anatomy of a Sell-off

InthePink — Fri, 30 Oct 2009 15:25:20 -0000

Ah ok, I understand now... thanks for the heads up and GL

Re: Anatomy of a Sell-off

InthePink — Fri, 30 Oct 2009 15:25:19 -0000

Hey no problem at all, I was just curious what methods you used... but
hey, you don't need anything fancy as long as your method works!

Re: Anatomy of a Sell-off

InthePink — Fri, 30 Oct 2009 15:25:03 -0000

Well, to be honest with you, if I play my cards right, I won't be
practicing law at all. I'm actually vying for a position at a trading
firm... I originally entered law school expecting to practice law or
something of that nature, but found out that my true passion (and I
think calling) is to trade. I probably spend more time focusing on
the market, learning, and coming up with new trading ideas/ strategies
than I do with studying for school....

Shh, don't tell my profs!

Re: Anatomy of a Sell-off

InthePink — Fri, 30 Oct 2009 15:25:00 -0000

You're welcome... I believe I first read that info from Dr.
Steenbarger. Of course, I'm not sure how accurate that number is now,
but it probably fluctuates with the volatility

Re: Anatomy of a Sell-off

GreekGod — Fri, 30 Oct 2009 15:23:43 -0000

thanks for the reply.

Re: Anatomy of a Sell-off

InthePink — Fri, 30 Oct 2009 15:23:36 -0000

I will explain to all in due time... first I'm just testing the
validity of these probabilities

Re: Anatomy of a Sell-off

GreekGod — Fri, 30 Oct 2009 15:23:30 -0000

Thanks for the reply.....have a good day trading.

Re: Anatomy of a Sell-off

GreekGod — Fri, 30 Oct 2009 15:23:19 -0000

I'll join you when you do although I do have a small portion of TZA
@13.89 from yesterday and want to buy more today IF>

Re: Anatomy of a Sell-off

moo — Fri, 30 Oct 2009 15:22:28 -0000

yep, I noticed that today Jay...It's a DISQUS problem.

Re: Anatomy of a Sell-off

jayinasia — Fri, 30 Oct 2009 15:22:03 -0000

We are both 50/50. I got stopped out on TIE anyway.

Re: Anatomy of a Sell-off

moo — Fri, 30 Oct 2009 15:20:36 -0000

Very risky. Potentially very profitable as well. If we bounce and there is
no further downside from yesterday's low in the broader market (implying
that USD will fall ) then this might be the sale of the century. BUT, if the
USD$ continues to rally, I am afraid the PMs will suffer greatly. As Mrs. B.
says, just look at KGC, the rest of the miners will follow in suit.

Given the character change in how this selling is taking place I would have
urge great caution in entering the PMs today as a buy point. Maybe a day
trade, but certainly not a swing trade. I need to see some basing, but if
the USD drops as fast as its lifting then we could easily see a reversal in
the PM selloff.

It's never easy and it takes a lot of faith and courage to trade a bull
market in gold/silver.

My core PM position is back to it's minimum size. Be careful.

Re: Anatomy of a Sell-off

MovinFwd — Fri, 30 Oct 2009 10:22:40 -0000

Thanks d833, I was thinking about some sort of strategy to get in the correct way on flags. While the info is not actually about flags, a variant might apply to flags. I'm working on my trading plans, beyond "buy when it looks like it is going to go up, sell when it looks like it is going to go down." Ha. Thanks to you I now have the book on my book buying list. +1 And yes, that is what the last 3 days look like, barbed wire, having grown up on the farm.
Best Regards

Re: Anatomy of a Sell-off

Tazman — Fri, 30 Oct 2009 09:00:16 -0000

DOWNSIDE MOVERS
(-) CIT (-7%) tumbles on report that bankruptcy filing looms.
(-) NVTL (-18%) continues extended-hours gain after
(-) ALU (-7.6%) loss widens.
UPSIDE MOVERS
(+) LVS (+7.4%) continues extended-hours gain after surprise profit.
(+) GNW (+14.5%) continues extended-hours gain after Q3 beat.
(+) CVX (+0.7%) beats with Q3 EPS, revs shy.
(+) LYG (+2.8%) gains on report of capital plan, upgrade.
(+) WPTE (+39%) gets raised offer to $1.77 per share cash, stock.
(+) VVUS (+8.6%) gains on more positive study data for obesity drug.
(+) SXE (+8.6%) reports Q2 results that top year ago, beat Street.
(+) MSTR (+11.3%) beats with Q3 results.
(+) EL (+7.4%) beats with Q1, hikes FY guidance.
(+) DUK (+0.2) bets earnings expectations.
(+) CVH (+0.7%) beats with Q3 EPS, raises view.

Re: Anatomy of a Sell-off

jayinasia — Fri, 30 Oct 2009 03:15:18 -0000

Hi Folks. I'm not sure how many people will see this as it late there. If Moo/Brinks feel it is worthy then maybe they can re-post it. It's Halloween party time here so I may not be around the computer.

I might be a buyer of any weakness at the open. The following chart shows the analog of Sep-Oct. To my surprise it is almost exactly lock step. It all suggests that the cycle low was put in and we are on our way to 1130. The past two rallies off of the cycle low were strong and fast and I wouldn't expect this to be different (if it follows)
http://stockcharts.com/h-sc...

PS....One major difference is the launch off of the cycle low. Is it a bull trap? Let's see.

Re: Anatomy of a Sell-off

Ashok — Thu, 29 Oct 2009 23:27:35 -0000

Sydney, Shanghai, Hong Kong and the Nikkei rocking......all near the HODs....g'nite all..!

Re: Anatomy of a Sell-off

drewallin833 — Thu, 29 Oct 2009 23:24:02 -0000

a helpful excerpt:

"Barb Wire is notorious for sharp whipsaws and repeated losses for breakout traders. One good way to trade barb wire is to wait for a trend bar to break out of the pattern"

he goes on to recommend shorting one tick below the high of the 5 min bar break out and place two buy stops two ticks above your entry because the trade is bound to go 4 ticks or more in either direction. so your going to profit either way whether it's a failed break out or a true break out. This example is a with trend break out not against trend.

Re: Anatomy of a Sell-off

morrise — Thu, 29 Oct 2009 22:37:35 -0000

NYA…what a yoyo
http://screencast.com/t/N58...
http://screencast.com/t/hRl...
NQ
http://screencast.com/t/WR1...
NYA…McClellan
http://screencast.com/t/77M...
NYA…A/D Line
http://screencast.com/t/3A0...
On the PNF Indexes as well as the BPI’s nothing really changed ..The BPI’s got weaker and the NYA and NQ turned into “X”s…I put the NYA up for a reference to what today did to the indexes EMA’s..
A few Momentum indicators strengthened butttt caution is the name of the tune to play..A retrace into this downward move is normal but hard for me to trade….Anyway
…I got stopped on my FAZ today..made a few points and unless our charts turn up with strength I will look to re-enter…Bgt. and sld. the NYBOT(mini Russell) today for my first futures trade..took 4 pts. away on 5 contracts..Looks like a good start for me…
Out of pocket tomorrow..hope all do well

Re: Anatomy of a Sell-off

Brinkley — Thu, 29 Oct 2009 21:15:34 -0000

I actually just sold DO a week or so again after holding it most of the way up from March (traded in and out a couple of times along the way). Excellent choice, it is one of the better-behaved stocks I've owned. I will likely re-enter very soon, depending on the market. I could see it possibly revisiting the 50-day MA before resuming its uptrend, but it never seems to pull back for long, so it may not.