DISQUS

jayinasia · 2 months ago

Ok. There are some really good posts on this thread. How come there aren't that many LIKES? You guys are either really tough graders or you're stingy.

I'm gonna LIKE (not lick) everyone then. Consider yourself LIKED.

Facesincabs · 2 months ago

hey Jay ...

but we don't like each other over here ... ;-)

jayinasia · 2 months ago

I can tell. Actually that is probably a good thing. Just stick to trading and don't become (ahem) a social networking site. LOL. I just thought I'd be a little bit generous today. There are some really good posts.

Chuckles · 2 months ago

Jay, Thanks for bringing that up. I try to "like" good posts as often as possible.
I've also noticed that the contribution counter seems to be stuck on 59. I think the market action has some folks stepping back.

jayinasia · 2 months ago

Oh. Good point. Let me cash in my short Yen and I need to donate.

DavidDT · 2 months ago

what is the point of "liking"?
if post is to the point and makes $ - it is better than liking
if it loses money - would we like the wrong post? :)

DJ · 2 months ago

Like that......

DavidDT · 2 months ago

yeah... and you did not even "liked" my post - now I'd have to do "Jay's" and give everyone second like

jayinasia · 2 months ago

I don't know does there need to be a point to everything? I just figure some people put a lot of work into their charts and analysis so it's good to show a little appreciation. :0

By the way, I WON'T give you a point for your X call but I WILL give you one for TIE. :)

DavidDT · 2 months ago

you can always move it to 60

morrise · 2 months ago

This will be my last posting here for awhle..Tomorrow I began trading the E RUT and will focus there..I thought I would post my assembly of Index charts, not all, as a few of bloggers seem to like them..anyway...
Update…indexes…please look at the MACD’s as well
NASDAQ…sell signal PNF…PNF BPI close to “O”s..however look at the crossover on the daily
http://screencast.com/t/iCdU5W1rBkLd
http://screencast.com/t/ZNUEpa6R
http://screencast.com/t/vkEWXUpn
http://screencast.com/t/rph9bb9ic
S&P…stronger but in “O”s…no cross or turn down on 30EMA…BPI in “O”S…daily crossover of SMA ..
http://screencast.com/t/xs2o7Z1u5AbT
http://screencast.com/t/7bUWZno2pHWN
http://screencast.com/t/5tzL5U4V
2000…RUT..PNF sell..I have a lot of the TZA. No need to comment here
http://screencast.com/t/gxflNzxcygM
http://screencast.com/t/PIbV2N6O8j6
NYA
http://screencast.com/t/khFsLKBr5
http://screencast.com/t/SHMx1nIKlA
http://screencast.com/t/KF1k4lwIvu
when we find ourselves in a column of "O"s on PNF charts it's usually a time for caution...when the PBI's are there it's doubly so..

Brinkley · 2 months ago

EUR/$USD 5-min. chart right now (8:11 p.m.):

http://screencast.com/t/nQbzEBoR

Nice inverse h/s pattern should lead EUR/USD higher short-term.

fstrtrdr · 2 months ago

I sure hope so - like between now and Thursday or I'm changing the smile on my picture. (And may need a diaper change.)

jayinasia · 2 months ago

Brinks.

You trade equities during the day and currencies at night? Leading a double life I see. Hahahaha.

Brinkley · 2 months ago

Hi Jay-- I rarely trade currencies, but I watch them overnight for the influence they have on equities. Good thing I didn't trade the pattern I showed this time-- sellers came in and took it back to the neckline, which was sloping downwards to begin with. We'll see if it holds there or continues to trade under pressure.

jayinasia · 2 months ago

Hahaha. Sorry I was just "projecting" again. You know the story. The good girl (equities trader) comes over to the wrong side of the tracks (currencies) at night to get her kicks!

Brinkley · 2 months ago

Something like that. ; )

jayinasia · 1 month ago

Got ya. Yeah, it's hard to tell what is affecting what but Australia came
out with CPI higher than expected (just slightly) and AUD immediately sold
off. It looks like we are in a "sell the news" trend here. I guess we'll see
when we get GDP. Have a great evening.

Brinkley · 2 months ago

Very challenging trading action today. The short positions I held coming into the session obviously did very well, but my handling of day trades today could have been better. I should have left well enough alone and not messed with success, but no harm done. This kind of volatile intraday chop can be tough to tackle, and I hope everyone managed ok today.

October is finally living up to its bad-tempered reputation with many stocks getting crushed. I need to run my charts later and dissect the damage. The indices are holding up better than many individual stocks, but the anatomy of this correction is far less orderly and consolidative in nature than prior pullbacks on the way up. Commodity-related stocks have behaved better than those in many other sectors-- thus far supporting the notion that these groups are simply consolidating gains following recent breakouts. Other sectors, however, are experiencing considerably more bearish behavior and need to be watched carefully as they test (or break below) key support levels.

hiker · 2 months ago

Brinkley,

I suggest you subscribe to John Bollinger's Capital Growth Letter, which includes a monthly and then an every Monday update..invaluable for the swing trader and chart-based trader, in my opinion

zstock · 2 months ago

APOL down $14 in AH, this might put ESI in a long position, tomorrow.

Tazman · 2 months ago

Did not touch a knife @ all today (a little VVUS but sold AH).....Rosa kept slapping my hand from the BUY button.

Brinkley · 2 months ago

Congrats to both of you. ; )

Rosabarba · 2 months ago

:-P

moo · 2 months ago

hope everyone faired better...2 large botched trades left me trying to make up the loss. Pared 1/2 the loss which is a success, however a loss nonetheless.

/ES 1060 was not taken out, and we have end of month actions. I am looking for a bounce to 1072 and then down from there perhaps...

Hope everyone survived this day in tact, I will be licking my wounds.

Teich50 · 2 months ago

I think we should bounce too. $NYMO is probably showing that the market is very oversold (after today's data is updated):

http://stockcharts.com/charts/gallery.html?$nymo

I feel that the sell-off in the 2nd half of the day was quite orderly.

Do you see the market bottoming at /ES 1050-ish after we bounce to 1072?

Tazman · 2 months ago

Moo....I was up @ 5:30 AM....ran some junior miners and came up with...JAG....NG....FRG.....MNF and NGD....all had a small drop....then nice push up....great for a day trade.....I ran your RSI 7 and all of these were below 30 on daily....low 50 on weekly.

Was that a good call IYO?.......did not play ANY BTW...

moo · 2 months ago

JAG is my favorite in your list Taz....the signal to buy is to be below 30 and crossing above, so it's debatable as to went it would have been the best entry. Also, most of the gold/silver stocks don't get to be below 30 on the daily RSI(7). Those that are, are likely not the ones you want.

Tazman · 2 months ago

Then why did all have a good day?......Just a bounce play?

moo · 2 months ago

can happen and does v frequently. Yes, I think this was a bounce, but will likely bounce along the 30 until the distribution ebbs away.

Tazman · 2 months ago

Thank you Moo.....

nitemare · 2 months ago

I see STEC mentioned once in a while here. Down over 7% today. I have been short for quite some time and just covered. Probably my best trade of the year.

Tazman · 2 months ago

Nice trade....

Brinkley · 2 months ago

Nice work, nitemare-- the technicals have been deteriorating for some time.

nitemare · 2 months ago

I should add some value to my comment here, sorry, I exited the position as there is support at the 22.50 level which is also a 50% fib retracement for the period Dec 08 - SEP 09.

Facesincabs · 2 months ago

A few charts … we are over sold but many areas of the markets are teetering at lower trend lines beginning in March ... a bad oil report tomorrow could make the market tape exciting ...

http://tinyurl.com/yhr74cx (this trend line from March looks like it will be broken ... $INDU bounced off 9825 today)

http://tinyurl.com/ygxesnz (canary in a coal mine?)

http://tinyurl.com/yknj56q ($NAMO and $NYMO very oversold)

http://tinyurl.com/yzwuunu (NASDAQ A/D line rolling over big)

http://tinyurl.com/yzhf8y8 (commodities back tested prior upper trend line)

Chuckles · 2 months ago

Hey Bear,
I could view the first $INDU chart but was unable to open the other links. Is anyone else having this issue? I have been having difficulty this evening opening screencast links too so this could be an issue that is just mine.
Edit: I'm not sure what changed but they are working for me now.

Facesincabs · 2 months ago

ok ... glad you got to them ...

fwiw ... Disqus can be goofy ...

Ashok · 2 months ago

+0.43 on SDS today.....also long BIDU from 383

Chuckles · 2 months ago

Hey buddy, good to see ya.

Ashok · 2 months ago

Haylo Chuks...../\.....good to see you too.....hope all's well....

Tazman · 2 months ago

05:56 PM Eastern Daylight Time, 10/27/2009 (MidnightTrader) -- Some of the stocks moving on news-driven events in this evening's after-hours market include:

CEPH, +1.4%

ILMN, -14%

APOL, -16.3%

BBOX, +6.3%

FISV, -2.6%

NTRI, +0.3%

ETFC, -1.3%

V, +2.7%

AMKR, -2.7%

RFMD, +7%

PLXT, flat

BWLD, -2.9%

MOLX, -0.02%

CIT, +2.1%

MCK, -0.1%

Dutch · 2 months ago

I haven't seen anyone mention the rounded reversal we're getting across several indexes staring in Oct. Look at an hourly of the S&P500 and it is clear as day so far...

I knew Corey would cover it:
http://blog.afraidtotrade.com/rounded-arc-a-bad...

Brinkley · 2 months ago

Hi Dutch-- Rounded tops are typically bearish-- but this has been the dominant pattern since the early August high. In each case there was a very similar rounding "top" or arc. So far, they've all continued on to put in higher highs. This one could certainly be different, and indeed the market action is clearly different this time-- but at this point, until we have a lower high and lower low, it's another rounded-top pullback. Too soon to call it a reversal.

aviat72 · 2 months ago

Ms. B:

The graph on Corey's website seem to suggest lower highs and lows in the second half of October on the SPX. Are you seeing something different?
http://farm4.static.flickr.com/3429/4048138942_...

GDX/PM: Equities have now pulled back a lot more (close to the early October BO) while Gold is still well above the early October level. GDX has now at its 50 Day SMA, having filed the gap. There seems to be ascending triangle forming but that is a continuation pattern and not a reversal. There was also a nice IHS shaping up intra-day but no break out as yet. How do you think the mismatch between the relative performance of GDX and Gold resolve.

RUT:SPX continues to show weak small caps. It is now hugging the downward sloping Ketner Channel and rapidly approaching the 200Day SMA. This was about the place we made the July bottom on this chart.
http://stockcharts.com/h-sc/ui?s=$RUT:$SPX&p=D&...

I spent most of my day shepherding yesterday's accidental AMZN position (Instead of an order to reverse ended up with double the exposure in the wrong direction). There was a decent pullback in AMZN but it pulled back to recover half the losses. There was a lot of selling pressure above 125 yesterday (spent most of its 20 minutes above that level falling down) so that level seems to be the short term resistance.

Brinkley · 2 months ago

Not much time tonight, but I was referring to the series of similar patterns as the index has climbed higher-- each looked like a potential rounded top at the time, yet continued on to make a higher high. My annotation capability is limited on my laptop, but hopefully this illustrates the point.

http://screencast.com/t/XbpLeIxojC

At this point, I remain bullish on gold and oil and anticipate this pullback will prove to be a good buying opportunity. I monitor GDX but have always disliked trading it.

Other market sector performance is more negative, and we'll just have to see where things stabilize and the character of any ensuing bounces. Sorry to hear of your AMZN struggles!

fstrtrdr · 2 months ago

I've been buying on the down side of these rounded tops and selling on the way back up. But I AM worried this time. I started too early and where I usually only get 1/4 to 1/2 in, I'm now 3/4+ in.

Doji Girl · 2 months ago

When you get a chance, I am curious why you don't like to trade GDX.

Brinkley · 2 months ago

Hard to say-- different stocks, ETFs, etc. tend to have different trading personalities and I think ours clash. Seriously, it's hard to pinpoint-- it just seems to trade a lot choppier than GLD or many of the miners.

Chuckles · 2 months ago

Dutch,
What does it mean when there are several in a row?
http://screencast.com/t/9pMhwg5Pi

tal23 · 2 months ago

Anyone see VVUS down 17% on no news?!

Tazman · 2 months ago

ARNA/OREX also....this was my basket play....no position at this time...no news on all three...

InthePink · 2 months ago

OK guys, well I'm outta here for today. Have a good evening, and hope to be around tomorrow!

Rosabarba · 2 months ago

Off to a charity ball, Pink?

Tazman · 2 months ago

Nice Pink....I see we have moved now with the "High School Yearbook" photo....

InthePink · 1 month ago

haha

chaunceyherbie · 2 months ago

Who Dat? Nice volume profile analysis, Pink.

Chuckles · 2 months ago

It looks like Dog The Bounty Hunter got cleaned up. ;^)

zstock · 2 months ago

SOHU Chart, late in the day find, maybe you can get it in the morning

moo · 2 months ago

got caught in the riptide on daytrading today with a bit of a loss.

chaunceyherbie · 2 months ago

moo, you'll get your groove back tomorrow.

Listen to some Coldplay.

The other stuff from yesterday will pass in time....always does. hang in there big guy....you've had an amazing year with more success to come. thanks for being here. great community. thanks also to Brinks. CH

moo · 2 months ago

Thanks. Will do some Coldplay CH, thanks again!

Dutch · 2 months ago

I have a 10yr trading friend who believes STRONGLY in the "payout" and "payback" cycles of trading. Lighten up your position sizing and do less until you are out of this payback cycle. Can't stay on a win streak forever and as you've said, you've been having "porno sized" profits lately.

Rosabarba · 2 months ago

Happens to the best of us, Blue, and you're definitely one of the best of us. What were you playing, may I ask?

moo · 2 months ago

Thanks RB.

I was in FAS, FAZ, GOLD, HERO, HOG, IO, IBM, MS, ZION

Today was my worst trading day of the year.

Tazman · 2 months ago

Moo.....will you play it out in your head over and over?.....Only asking as what went wrong.....were you expecting bigger swings......worn out stocks.....

And can your blog learn again from the master?........

moo · 2 months ago

I took a loss on HERO and IO, then I tried to right that loss and I succeeded to par 1/2 the loss. The other stocks I played intraday were blundered on bad order entry tickets.

Tazman · 2 months ago

When will.... S...PCS and Leap make a run up?.....That WalMart entry has them scared.....

Facesincabs · 2 months ago

$TNX rolling over a bit ... this could shift the markets downward ...

9825 2nd test is still in the cards for today ...

Rosabarba · 2 months ago

I expect there's no lack of short candidates out there right now, but have a gander at the daily chart of PRU for the past three months.

Doji Girl · 2 months ago

Thanks for that, RB! Jumped into some puts and they are already profitable.

Facesincabs · 2 months ago

yes ... I was watching it concurrently with HIG ... (point up for reminding me ... because I lost all my pre-set trading screens upgrading software on the weekend)

fwiw ... I have to wonder if the financials are really ready to give it up yet ... regional banks are firm still ...

Rosabarba · 2 months ago

$KRX is green, but hanging on to the 50dma by its eye teeth. The triangle it's been making for the past three months is running out of room.

Facesincabs · 2 months ago

(fwiw ... I use KRE)

I agree with your analysis ... and we are certainly very close to some larger move here by the financials ...

Brinkley · 2 months ago

Beautiful short setup, RB.

Doji Girl · 2 months ago

I'm wondering what's holding it up. Looks ready to crack to me.

Rosabarba · 2 months ago

I have DEC puts on that hope/expectation.

I missed a nice shot at BNI by not adding to a smallish put position when it slipped under 85 right before earnings, though IV crush was a fear.

Doji Girl · 1 month ago

I was in BNI a couple weeks too early and took a loss and never thought to
reenter.
Sigh.

Brinkley · 2 months ago

This is a very treacherous trading environment, Everyone-- if you're not comfortable in this I would encourage you to wait for things to stabilize a little. The intraday moves are violent. Be careful.

Facesincabs · 2 months ago

yeah ... entry is a bit more important to good trades here (both directions) ...

InthePink · 2 months ago

ES volume profile chart w/ some commentary: http://chart.ly/z4me2t

Modab · 2 months ago

Nice bow tie :)

Doji Girl · 2 months ago

Thanks for that chart. From the looks of the volume, there is a bit of a vacuum below 1060 to about 1050. You'd think price would move swiftly through that yet it keeps catching a bid. Not sure what to make of that.

TraderTamas · 2 months ago

The lack of volume tells me we're going a bit lower. /ES 1038 level

chaunceyherbie · 2 months ago

TT,
Gap support held for the second time today on $SPX. I look for some dip buyers in here and then some short covering to push it somewhat higher, back up to the 20 sma and then the hourly PnF potential support/resistance level of 1076, plus or minus 0.0015%. My target for the move is 1077.75 at which point I will take off my covered call hedge on SDS . OR....if it reaches 1076 and then loses it, I will take off my hedge there. I do expect the gap from 10/08 at 1057 to get filled, but not so sure it will happen today. That's my guess.
Good luck everyone. CH

TraderTamas · 2 months ago

Good luck to you too.

mSquare · 2 months ago

Unlikely we head much lower than /ES 1057 or so it printed earlier AM. At least not today

mSquare · 2 months ago

*Trade Alert*

TZA - Sold half with trailing stop - Out with $0.35. Tightened stop on remaining half. Watching EUR/USD & SPY bounce off 106.2

Facesincabs · 2 months ago

gm

I am beginning to look at housing and retail stocks in my short list with the consumer confidence reading below 47/48 this morning ...

The $INDU low today is right on the trend line on this chart I shared yesterday ... http://tinyurl.com/ylbjrmv ... this same trend line (from March) is appearing on many index charts as today's support ...

I am looking for the mild swing back up today to continue (watching through lunch time highs) ... I am not getting long here but staying out of the way and beginning a strategy of shorting into resistance (sell resistance / buy support) ... watching 1071 on the upside here on the ES / $SPX

Good luck to everyone on their entries ... the tape is going to get rather tricky here (imo) ... based on wave counts I have seen from EW traders I respect the Euro could be making a swing back up to 1.52 or so in the near term (and that would change things temporarily) ...

Brinkley · 2 months ago

Is this LFB, by any chance? If so, it is very challenging to keep up with your multiple personalities. ; )

Facesincabs · 2 months ago

it is (just keeping you on your toes, girl!) ...

I am only "smiling bear" temporarily though ... because I think we have another move up before things get a bit ugly for bulls ...

Brinkley · 2 months ago

Sorry I haven't had much time to post. I re-entered OIH this morning-- got a good entry near the low and stop is in the profit zone; entered ICE long for a scalp/day trade, and have been scalping FSLR, POT. Have a small long position in CME in advance of its earnings this week, but it's not doing much so far today. I'm short X and scalping inverse ETFs.

Some nice action in HERO and a number of the oils. Healthcare catching a bid as well, and watching the precious metals for a cue to add.

These sellers are serious, Folks, and shorting the pops is working well so far-- however, the McClellan oscillators were approaching extreme oversold levels last night, suggesting a short-term bounce is not far off (although choppy sideways movement can also serve to neutralize the readings to some degree).

Facesincabs · 2 months ago

I agree about the McC's ... that is one of things causing me some hesitation here ...

greekgoodies · 2 months ago

From what you are saying brinks is that more money is to be lost then made in my opinion. I think I'm going to stay out awhile for now until I see a light at the end of the tunnel. From articles I'm reading last week more so called smart money is leaning to a down market for the next few weeks. Is that just a con job?

Brinkley · 2 months ago

The volatility will chew up many an account so indeed, caution is called for. There are some excellent trading opportunities, but it all depends on individual experience and trading styles. As a general rule, if you're feeling uncomfortable or aren't getting a good read on things, it should be your cue to step away and wait until things come into focus again.

InthePink · 2 months ago

remember that 1070 area had a 61% chance of touching and 1077.25 had 21%

1072 is the pivot

Doji Girl · 2 months ago

So are you saying that if it gets to 1070-1072 you would short there? Looks like an inverted H&S on the 1 minute chart. A push over 1068ish should do it.

InthePink · 2 months ago

Hey Doji,

Sorry, I just realized I'm not receiving any Disqus notifications via email today, so that explains the long delay in my responses!

Anyway, I would not necessarily short in the 70-72 area based on that 61% chance of touching, because it all depends on what happens if and when it does reach that area.

As long as VWAP holds thoughout the day, the move to 1070 could very well happen

chaunceyherbie · 2 months ago

$spx for the moment, gap support held on downdraft

Brinkley · 2 months ago

Good morning : ). Not sure if anyone's mentioned it but QTWW on the move again-- very busy here!

Chuckles · 2 months ago

Marc Faber's and Andrew Smithers' negative market opinions scrolled across the Bloomberg screen all night. So far this little pullback has been pretty orderly but I can't help but wonder where the tipping point is for the fear factor to come back into play.

gamingthemarket · 2 months ago

CIT filing for bankruptcy might be one of the tipping points. They're on the edge:

"BOSTON (MarketWatch) -- Billionaire investor Carl Icahn in a statement Tuesday morning said he is giving downside protection to smaller CIT Group Inc. (CIT 0.98, -0.09, -8.41%) noteholders, in the form of a 30-day tender offer at 60% of par value, if they back his opposition to the company's prepackaged bankruptcy plan. CIT Group, the troubled lender that is trying to restructure to avoid bankruptcy, late Monday boosted and extended debt exchange offers in a bid to build bondholder support. The exchange offers expire on Thursday. CIT shares were off nearly 10% in early trading Tuesday."

Faber was great. I wish I better understood this concept back in March:

"As long as the currency is weak it's a symptom of inflation... The worst investment in an inflationary period, where you print money and have large fiscal deficits, are of course government bonds. Long-term government bonds and then cash. The best is to have foreign currencies and commodities. But also equities protect you to some extent, because they adjust upwards as the currency goes down." -Faber

http://www.clipsyndicate.com/video/play/1154646

InthePink · 2 months ago

good morning guys,

I took some of Dr. Brett's SPY levels, converted them to ES prices using the 9.96 conversion factor and determined the probability analysis on them:

108.16 = 21%, 1077.27
107.44 = 61%, 1070
106.71 = 78%, 1062.83
106.46 = 60%, 1060.34
106.22 = 43%, 1057.95

Doji Girl · 2 months ago

Not sure what you're measuring...is that the probability that those numbers will be touched or the highs or the pivots?

InthePink · 2 months ago

it's the volatility-adjusted pivots from Dr. Steenbarger, adjusted to ES prices, then calculated to the probability of touching that level by the end of today

Doji Girl · 2 months ago

Thanks...trying to figure out how to use that info to set up trades.

InthePink · 2 months ago

you're welcome... I'm still trying to figure out myself. So far the 1057-1062 trades worked like a charm, but just like any indicator I would imagine it has its flaws

humble1 (tm) · 2 months ago

my ewave count, showing c of C UP from 3/6/09 about to commence:

http://siliconinvestor.advfn.com/readmsg.aspx?m...

i have two interesting dates in december as possible "final" high candidates. later, on those.

Brinkley · 2 months ago

Nasdaq McClellan oscillator is registering extreme oversold readings and suggests a bounce of some degree is not far off.

http://screencast.com/t/pFy7hAnXa

DavidDT · 2 months ago

yup - tomorrow (today) is an up day

jusjones49 · 2 months ago

Appreciate what seems like round-the-clock activity you present on the site.

Gold has had what looks like an orderly pullback so far to its prior bo area. Dollar nearing its desc channel resistance as well. Any PM favorites at this point in time based on the charts? The majority are at extremely oversold levels. thanks

Brinkley · 2 months ago

Thanks for your comment, jusjones-- it's no secret that I don't get enough sleep these days!

Moo is the resident PM guru, but a few names that I usually look first to are GOLD, RGLD, SLW, IAG. AUY, AEM, and maybe CDE. Of the bunch, I like the RGLD chart best as it is setting up for a breakout into new highs-- although it is taking its sweet time. ; )

Ashok · 2 months ago

Howdy folks...!
Since I still don't have a comp at home.....currently on wifey's Toshiba tab.....and then at work...I have to log in every time I come here.....have no idea what caused my picture to change......

Question for jay......could you suggest a site that monitors the Indian markets.....with charts showing "Fast Stochastics"......charting.bseindia.com has just Stochastics.......thank you for taking the time.....

jayinasia · 2 months ago

Namaskar Ashok.

Off the top of my head I don't know of any with indicators but let me check. Of course you could set up a futures account.

Ashok · 2 months ago

.../\...appreciate you taking the time, jay....

jayinasia · 2 months ago

Ash,

I didn't see any free charts with that capability. I did see a few pay sites though. One had a puja to Ganapati and Lakshmi before you start trading. Cool. LOL.

Ashok · 2 months ago

:))....Very interesting, jay...Happy belated Diwali to you...! Appreciate your effort...

jayinasia · 1 month ago

There is a large Tamil population in M'sia and Singapore. I thought this
Diwali greeting was the best.

May this festival of lights be a reminder to consciously bring about a
BRIGHTER LIGHT, a DEEPER LIFE, and a GREATER LOVE each and everyday.

jayinasia · 2 months ago

Finally a little bit of strength in Yen and the hedge is working. Here's my game plan going forward today and the next couple of days.

The 62% fib of this latest high is ~ 90.97. That also is the 21 ema on the daily. This will be what I consider "Custer's last stand" for this rally. If we get that far down I will remove hedges and maybe even add to position depending on the outcome. If we keep moving down then it was a good ride! LOL. We still have a ways to go and we could bounce @ 91.2 for a while but this is my plan if it comes to that.

DJ · 2 months ago

I have been hedged too. usd/jpy short, usd/cad short, gbp/usd short and long eur/usd. closed usd/chf long at 5 pm est. with so much volatility, hedging is playing out better now.

What pair are you using to hedge yoru usd/jpy long?

jayinasia · 2 months ago

it's not a pair. i'm LONG and SHORT usd/jpy. if you have an FX account outside of the US you can do it but I think there were some new rules that prohibits it for US accounts. i used to have FXCM in the US and they moved it to the UK because of this.

you have a really good entry on the usd/jpy from what you wrote yesterday. i got in a bit later but still it is working. i will be watching the levels stated above.

DJ · 2 months ago

oh really. yeah, here you have to choose a diff. pair to hedge, else it just closes your position (if hedging in equal amount). yeah, I shorted usd/jpy at 92.22, good entry I guess. I have put in limit order to add eur/usd if it drops to put a limit order to buy eur/usd at 1.478x area..

jayinasia · 1 month ago

it's not a pair. i'm LONG and SHORT usd/jpy. if you have an FX account
outside of the US you can do it but I think there were some new rules that
prohibits it for US accounts. i used to have FXCM in the US and they moved
it to the UK because of this.

you have a really good entry on the usd/jpy from what you wrote yesterday. i
got in a bit later but still it is working. i will be watching the levels
stated above.

jayinasia · 2 months ago

Good Morning Folks.

Stopped out of TIE trade. -2%. Brinks mentioned it somewhere on this thread but definitely there are some major moves going on in individual equities. When your profitable trades all start getting hit in succession it's time to be a bit cautious. For me, I stayed out during this month's pop so I'm at least happy that the charts are looking more reasonable these days.

Short Yen still hedged but I'm surprised at the resilience. Let's see what happens rest of the week.

Also, I mentioned the analog with the Sept low last night. Someone else brought it to my attention that Bespoke has mentioned this month looking exactly the same. We're just below the 200 ema on the hourly so that could be a good clue for a pop OR a drop.

bkudla · 2 months ago

Hi all, late post. Believe it or not I am net long as of this evening. What is everyone's target for the FXE?

Facesincabs · 2 months ago

fwiw ... I am giving the Euro-USD another day since the 3rd candle is often influential to a swing decision (e.g., like another down day and the resulting 3 black crows candle pattern) ... I am not long yet but I am considering that for tomorrow ...

influencing my decision is last week Kemal had a rigorous EW analysis of the Euro-USD where he suggested a move back up to as high as 1.52 after the Euro dropped on Monday and Tuesday to 1.47 or so ... so far he has been spot on ... so I have my eye on his analysis ...

Brinkley · 2 months ago

It's entirely possible. There have been a number of bullish setups that have failed recently, which in and of itself should raise caution. Bearish setup after bearish setup failed all the way up, which was indicative of how bullish the sentiment and trend was at that time. If we start seeing the bullish patterns and setups break down, that will also be an important tell.

Internals were very weak again today, and that could carry over into tomorrow. At the same time, as I mentioned earlier, the McClellans are registering extreme oversold readings which increases the probability of a short-term bounce soon.

Facesincabs · 2 months ago

hey ... aren't you up past your bedtime?

fwiw ... I just watched the market today ... the tape feels more normal to me ... we actually have stocks going both directions rather than everything just going up ...

I agree about the McC's (posted some chart internals above) ...

Teich50 · 2 months ago

If we take a look at http://stockcharts.com/charts/gallery.html?$nymo , and go long whenever $NYMO drops below -70 in the last few months, the trades are most likely profitable.

bkudla · 1 month ago

Smart, some of the better traders are positioning long, and I have a
boatload of PM's long, so looking to get some additional insight. They are
hedged with sold calls but looking to take them off.

Facesincabs · 1 month ago

yeah ... that decision really paid off for me ... glad I went against the current

jayinasia · 2 months ago

We should have some decent support here @ 1.48 ST. However, I could see us getting down to 1.46 and this still could be nothing more than a correction. The bears and dollar bulls have a lot of work to do.

bkudla · 1 month ago

Thanks Jay.

Tazman · 2 months ago

Bought PCX yesterday @ a great price....sold for a nice gain......with them reporting.....SOLD......

Mistake # 233......it starts with first wife....#1 and goes on until the # 233 PCX thing.....

Chuckles · 2 months ago

This was an old Halloween photo of me. I just wanted to see how it looked here.

shifthappens · 2 months ago

Dems agree to extend home-buyer tax credit: Dodd: http://www.cnbc.com/id/33493223

Tazman · 2 months ago

DPTR on of my lotto.....1.38 is my next entry.....should have went this AM....

Tazman · 2 months ago

Went VVUS @ 8.19....nice volume @ close....


I need to dig on VVUS...OREX and ARNA....why the drop....all have phase three testing going on....rumor one will get BIG partner soon....

greekgoodies · 2 months ago

Did anybody make any money today......tell the truth!

mSquare · 2 months ago

Yes made a small amount on TZA. Could have made more but sold too early.
Underwater on BRF I bought - perhaps falling knife - it is a multi-day trade, so time will tell

fstrtrdr · 2 months ago

I had some large winning trades PCX calls, GES puts, JCP puts, BUT my total account lost 1% value. And I increased risk, if we don't get a bounce in the next 2 days - I'll have to take some significant losses. And Brinkley is going to slap my bloody hands tomorrow I fear.

TraderTamas · 2 months ago

Nope.

Rosabarba · 2 months ago

I'm net long with a heavy emphasis on the PMs, so I did not. Nice day for the short stuff on IYR, IWM, BNI, QQQQ and PRU, tho.

Tazman · 2 months ago

A little....if I would have played my PM's I posted AM.......I would have had a GREAT day....I did not trade my plan today.....but I did learn that daily RSI 7 levels are good below 30....if PM's are trending...two times I did the calc and both times would have been great DAY trades....FWIW

ds2 · 2 months ago

I lost today too. Not too much though.

chaunceyherbie · 2 months ago

I've been very fortunate to ride a swing down from $SPX 1098 last Wednesday via SDS. Like moo, I'm looking for a bounce in here back to $SPX 1076 (moo=1072/es) and will then take my hedge off from this morning at $1062. That's my guess. I'm wondering under the present reporting conditions if the end of month positive seasonality might not be weaker than usual.

Modab · 2 months ago

Nope... mixed and mashed....made money on /ES and /CL but gave it all back and a little more on MGM

Gave back 10% of my gains from yesterday...

Looking for short term capitulation coming to a market near you....

We have some serious volume/resistance now forming on the /Es from 1064-1067 and then 1072, and then 1077 ... I feel strongly that 1077 area will be a good place to get short again.

Have a great night

ChickenLittle · 2 months ago

Today was fair. Came in holding TWM and DRV after getting nailed on AGQ and GDX yesterday. Added SSG early morning and DXD early afternoon. Stopped out of DXD, but all in all decent day.

Doji Girl · 2 months ago

For a change, I actually made a little today. Did very well with my puts on XRT, STI and LMT (some of which I took profits on, the rest I'm holding 'cos I don't think they're done puking yet) plus my long postions in TZA and SRS. Lost some of that lustre in PMs plus was too quick to jump into my TBT/TLT plays so that is currently a bit underwater. Net net, today was up but not by a whole lot.

longhorn37 · 2 months ago

16% total gain today on all shorts. ING and WYNN were my big winners. New to this blog and will posting more in the future.

Chuckles · 2 months ago

Welcome...

Brinkley · 2 months ago

Nice to have you with us, longhorn. : )

Chuckles · 2 months ago

Nope. Missed my entry orders on both TNA and URE by pennies just before the bounce at 2:00PM... woulda, coulda, shoulda...

Tazman · 2 months ago

Chuck....all three in the basket play had BIG down days.....see if you can dig up some scoop.....I went VVUS @ 8.19 @ close as volume came in....

Chuckles · 2 months ago

This is all I could find.

Vivus Falls After Cowen Note on Drug’s Side Effects (Update1)
2009-10-27 17:57:33.578 GMT


(Adds analyst comments in 11th and 14th paragraphs.)

By Elizabeth Lopatto
Oct. 27 (Bloomberg) -- Vivus Inc. fell the most in two
months in Nasdaq Stock Market trading after a Cowen & Co.
analyst said the company’s experimental obesity drug had
side effects that may restrict its use and regulatory
approval.
Shares of Mountain View, California-based Vivus fell
$1.19, or 12 percent, to $8.61 at 1:40 p.m. New York time,
after sinking as much as 16 percent, the biggest intra-day
slide since Aug. 3. Shares of rival weight-loss drug
developers, Arena Pharmaceuticals Inc. and Orexigen
Therapeutics Inc. also fell.
Data presented Oct. 24 at the meeting of the Obesity
Society in Washington showed that in two studies the higher
of two doses of Vivus’s weight-loss pill, Qnexa, caused
patients to drop out of the trial because of cognitive
symptoms such as memory loss and attention disturbance,
said Ian Sanderson, an analyst from Cowen & Co. in a note
today to investors. About 2 percent of patients stopped
treatment at that dosage in two late-stage trials, due to
the side effects, compared with less than 1 percent of
patients taking a dummy pill.
“Our clinical consultants believe Qnexa’s safety and
tolerability profiles will prove to be regulatory and
market issues,” Sanderson wrote in the note. If the U.S.
Food and Drug Administration approves Qnexa, the pill will
probably be closely monitored, Sanderson wrote.
A call to Vivus wasn’t immediately returned.

Tazman · 2 months ago

Thank's Chuck.....I am going with an exit AH on my VVUS.....

moo · 2 months ago

I lost money today.

DrNo · 2 months ago

This is the third day in a row of plus 2000 or better.I have gotten lazy , and foolish buying puts and sitting on them ,so i finally cleansed my account and am back to day trading which so far has gotten me right sided.I also waste too much time trading spy , and the options ,for a $100 stock , a total waste of time ,capital and energy,better to focus on stocks and not indexs.

MovinFwd · 2 months ago

Made some /ES coin this AM. Just watched and drew pretty patterns on the one minute chart the rest of the day. Wow, /ES action today was like a piece of rough cut lumber and full of splinters too. LOL.

Hope everyone made some $$$ today.

shifthappens · 2 months ago

Visa Quarterly Earnings, Revenue Both Top Analysts' Forecasts : http://www.cnbc.com/id/33496724

Tazman · 2 months ago

VVUS trading @ 8.26....might get out.....

Chuckles · 2 months ago

I dug up today's news about VVUS and posted below as a response to your question.

Tazman · 2 months ago

Yep....and I am leaving AH.....no trust in this trade now.....

shifthappens · 2 months ago

Ashraf Laidi: Afternoon FX Highlights: http://www.youtube.com/watch?v=mG3F4cy7lDs

Tazman · 2 months ago

YRCW....BLAST OFF......NICE

Rosabarba · 2 months ago

GLD and UUP are meeting in the middle. Who's betting they pass each other, and who's betting they bounce?

SnPMonster · 2 months ago

I see a buy signal in GLD, stochastics should confirm in a day or two.

nitemare · 2 months ago

Anyone putting positions on BIDU? It is tempting to short near the top of today's range (like TK did) but that huge gap is terrifying.

fstrtrdr · 2 months ago

PCX & YRCW - my earlier sell of calls on PCX above 14 looks like the right move now. But YRCW spiked thru my sell of $4 w/o tripping my call sell. Taz think I get another chance or we tanking?

Tazman · 2 months ago

I left @ 4.11.....what is your entry?

Volume dropping....take your 4 bucks...it's 3:24 and if they start a dump...will fall quick...IMO

fstrtrdr · 2 months ago

Bought stock $4 long ago and sold calls against it 2x but able to buy back on big drops. So I have naked stock that owes me nothing but wanted to keep using it to sell option premium. $4 nov's should have hit $1 today w/ VIX increase.

fstrtrdr · 2 months ago

Any tech bets for tomorrow? I've been out and don't have a read on what's happening.

Rosabarba · 2 months ago

GLD firm as the dollar turns back up. Hmmm.

Nice set of lower highs and lower lows on PRU.

Doji Girl · 2 months ago

I'm happy with my PRU position, thank you. Seems to e closing on the lows with higher volume. Works for me.

Rosabarba · 2 months ago

Speaking of dojis, it looks like GLD has printed a dragonfly. Any opinion?

Doji Girl · 2 months ago

That close is on a trendline that dates back to the end of August but I believe that's wishful thinking on our part to think it will take off again from there. If that doji was a little lower I'd say back up the truck. I think it has to retest 100 at least, maybe even lower. I also have longer term support coming in near the 50MA in the 98 range and additional support at about 97. I haven't added anything yet and still licking my wounds from being stopped out of a bunch yesterday but am pleased to see that SLW which I still have a bit of and IAG closed positive today.

Rosabarba · 2 months ago

Thanks for that.

SLW was particularly remarkable for its performance relative to SLV. It doesn't outperform like that every time, but this isn't the first time, either.

fstrtrdr · 2 months ago

AET - entered nov 27 calls aet kk at .6 yesterday now 1.05 holding for tomorrow's rise.

fstrtrdr · 2 months ago

Fuqi - Doji or anyone follow? Big drop & cheap calls on VIX crush.

Rosabarba · 2 months ago

Pretty hideous price action for a long. Taz would get scolded if he tried it. Not sure the volume screams capitulation.

Tazman · 2 months ago

Shhhhhh....my ass is still sore on the ULBI thing....

Rosabarba · 2 months ago

If that's what's sore, I can see one problem with your knife-catching technique right off the bat.

fstrtrdr · 2 months ago

Thanks - you're definitely right there. Taz thanks for the help, but I should get kicked on YRCW - missed getting it covered by .05. What's the saying? Picking up pennies in front of a steamroller??

Brinkley · 2 months ago

Not sure it's done with the downside. Looks vulnerable for a test of the 200-day EMA at least.

Rosabarba · 2 months ago

New LOD for PRU.

TraderTamas · 2 months ago

Printing money.

Rosabarba · 2 months ago

Have your FAZer set to kill?

TraderTamas · 2 months ago

You know it.

Rosabarba · 2 months ago

GLD is pushing up through the junk (though not dramatically so) as the dollar backs off (though not dramatically so).

mSquare · 2 months ago

GLD - Watching the same here. I have some GLD Calls which are underwater and am thinking if I should buy more.
/E7 LOD of 1.4768 and currently 1.4794 - will likely buy more GLD Calls if it goes above 1.48...

Doji Girl · 2 months ago

Added to TBT position as it retests breakout of downtrend line.

Rosabarba · 2 months ago

Calls?

Doji Girl · 2 months ago

Yes...may have been about half hour premature in hindsight. We'll see.

Doji Girl · 2 months ago

Also bought TLT puts that I had closed out profitably yesterday in another account.

Modab · 2 months ago

Good afternoon traders,

Here is the /ES Hourly chart I have beeen trading off of.

http://tinyurl.com/yzln3w2

Below channel and Moving averages.... Much easier to make money on the sell side...for now.

I think we need a final flush to give them bounce most are looking for. Maybe a nasty close and a gap down in the AM will do it?

Be careful out there... It has been a tough market to trade :)

Auggie · 2 months ago

Watching the RUT.... has given up almost 5% over the last 6 sessions. Watching for any signs of turning up.

Rosabarba · 2 months ago

Interesting to track the hourly Buying on Weakness report for SPY. As of last hour, it was $140M, which seems bullish, except that's $100M less than the previous hour. Not really useful for intraday trading, but interesting nonetheless.

http://online.wsj.com/mdc/public/page/2_3022-mf...

Rosabarba · 2 months ago

IYT looks pretty awful today. BNI ... low beta no mo.

fstrtrdr · 2 months ago

PCX just took out a week's worth of high's & working on $14.

shifthappens · 2 months ago

Good 2 yr t-note sale : US Auctions $44 Billion in 2-Year Notes at High Yield of 1.02%, Bid to Cover of 3.63

fstrtrdr · 2 months ago

pcx in pcx cp for 3.1 & out 4.6 as it bounced above 14. Can't risk selling calls or leaving profits on table in this mrket. Bye (or should I say buy, buy).

eastvillboy · 2 months ago

Anyone playing VISA going into tonight?

They seem to be in the Apple camp of under-promise-over-deliver on Earnings....

Rosabarba · 2 months ago

UUP options don't strike me as a great play (the spreads are lousy, for starters), but I'm in the minority today, and I guess they make a decent short-term hedge. The put-call volume today is heavily skewed in the latter's favor, as you would probably expect. The contracts are not expensive, but the open interest on the December chain is more than 200k calls versus less than 20k puts.

In related news, IWM's action today does not inspire a great deal of bullishness.

Tazman · 2 months ago

Back in YRCW @ 3.81.....

mSquare · 2 months ago

*Trade Alert*

TZA - Bought small position @ $12.30. Stop 2% but may tighten to LOD.

Not much (less than usual) confidence in today's buy. Will likely buy more if I see USD/EUR going back below 1.48 (right now 1.4818 and LOD 1.478)

jayinasia · 2 months ago

$SPX hourly looks the same as it did in early Sept.

Consolidate around the 200ema and then blast off.

Rosabarba · 2 months ago

HGSI having a nice day. The front-month options continue to price a big move one way or the other (you can still get more than four bucks a share for the 15/25 strangle). Nov. 2 (drug trial for their lupus drug) appears to be the key date. Might just be moving back and forth within a big ol' range until then.

Brinkley · 2 months ago

There he is. Good morning, RB. : )

Rosabarba · 2 months ago

Keeping busy, my dear?

Brinkley · 2 months ago

Extremely. I trust you're doing ok with the recent gyrations? I haven't heard anything about a rekindling of your FAZ affair-- clandestine this time around, or have you moved on to other enticements?

Rosabarba · 2 months ago

No FAZ for a while (I did take TZA for a spin on Friday with tasty results ... just a day trade). I've been trying to keep the intraday stuff to a minimum of late.

fstrtrdr · 2 months ago

PCX - Strategy question. I bought mar 10 calls at open to sells calls against in the volitility crush. Now up 30%. I'm debating selling against them now. Do you think this is just short covering & temporary - or is this going to run a while?

Tazman · 2 months ago

Could run @ 14.....

fstrtrdr · 2 months ago

Thanks Taz - it just took out Th. high. I think I'll have to put an electronic trailing stop on it as I have to leave. I hate to leave that out there for a MM to pick off but at least I know I'll keep a large chunk of the profits.

Tazman · 2 months ago

Why did I not buy ALL PM's I posted?....JAG....NG....FRG....MFN and NGD

Rosabarba · 2 months ago

A lot of those (and GDX and SLW to boot) are working on a pretty emphatic hammer thus far. Might just be an oversold reaction, and they're still fighting UUP. I added a few more MAR14 calls to SLW this morning, fwiw.

Tazman · 2 months ago

That was the reason I posted....ALL RSI 7 were below 30 on daily.....about 50 on weekly....I should have traded the plan....

tal23 · 2 months ago

SRZ big pop on new news
"Sunrise Reaches Agreements Regarding German Subsidiaries and Fountains Portfolio "
http://www.earthtimes.org/articles/show/sunrise...

fstrtrdr · 2 months ago

WMT - any of you play them? 200 mda caught, good bet on a cheaper Christmas?

mSquare · 2 months ago

*Trade Alert*

TZA - Bought second lot for a day trade @ $12.40. Stop 2% loss but watching EUR/USD - if it starts going back up, will bail out. Target $12.7 or better (HOD $12.75)

InthePink · 2 months ago

or you Fib guys, $ES_F 50% @ 1055 & 62% @ 1045

Also, check out the nice long tail on the 60 min $ES_F

longhorn37 · 2 months ago

WYNN is rolling over

Tazman · 2 months ago

QTWW moving....

ropey · 2 months ago

Insane bounce on BIDU - looks like 380s - maybe 390s at a push it'll stall, looking to reshort...

Brinkley · 2 months ago

That would coincide with resistance at the 50-day moving averages. The SMA is right near $380, and the EMA @ $383.

*Edit -- and I should have checked it again before I responded as it is already above both at the moment. It will be interesting to see where it closes. Remember what ISRG did? Sold off aggressively and promptly recovered near all of the losses. It'll be interesting to see where it closes out the session.

Tazman · 2 months ago

Left TZA @ 12.47...no real coin....just drinking....I mean thinking....why not push the tape up....get rid of some shorts....sell to retail buyers.....just a thought

longhorn37 · 2 months ago

Brinkley - how would you analyze the chart for CKSW?

Brinkley · 2 months ago

That's one ugly chart. ; ) With just a quick look, I would say it likely has further to fall before all is said and done. The next support of interest is the 200-day SMA which is $4.92 today, followed by around $4.70, which coincides with a gap fill and a good bit of congestion -- I'd look for a possible bounce from that general area. It would not appeal to me on the long side for a good while, fwiw. Hope that helps.

longhorn37 · 2 months ago

It does help - thank you. I have been looking at it as a short, but was a bit difficult to read. Thanks for the clarification.

Tazman · 2 months ago

PCX on a roll.....ICO flat now....

Tazman · 2 months ago

Left QTWW @ 1.45....entered @ 1.39....small position

Tazman · 2 months ago

Watching BEE....SRZ

Tazman · 2 months ago

Look @ PCX go.....

greekgoodies · 2 months ago

Taz.......what is the difference between "Wilders RSI 7" and the others?

fstrtrdr · 2 months ago

AGCO - what's up w/ that move?

InthePink · 2 months ago

Here is a YTD $ES_F Market Profile http://bit.ly/9nT1q for you guys!

idrincwater · 2 months ago

hm..what's this new platform you're using now? no more marketdelta?

InthePink · 1 month ago

Not not using MD anymore, just could not justify the price for its
usefulness for me. The charts I've been posting are from a few other
traders... some are TT_Trader and some are from Linn Soft

InthePink · 2 months ago

Another look: http://bit.ly/3gClLm

Notice the heavy volume in low 1060s... clue to why ES stopped there yesterday

ds2 · 2 months ago

Thanks Pink.

Tazman · 2 months ago

USD getting some support......watch your longs....

Tazman · 2 months ago

BLEW out the weak longs.....

InthePink · 2 months ago

TRADE ALERT

took a quick 2 pointer from 1060.25 to 1058.25, now short @ 1060 again

InthePink · 2 months ago

reversed long @ 1060.50 once I saw "double bottom" potentially

greekgoodies · 2 months ago

****TRADE ALERT****

TZA @ 12.59

Tazman · 2 months ago

I'm in @ 12.40.....

greekgoodies · 2 months ago

Do u have a mental stop on it..

Tazman · 2 months ago

Yep...12.30

greekgoodies · 2 months ago

Same here.

chaunceyherbie · 2 months ago

Hedge on SDS: sold covered calls $spx 1062

InthePink · 2 months ago

TRADE ALERT

+2.50 @ 1063, VWAP ES

Tazman · 2 months ago

Watch ICO on the dips.....I'm in @ 4.42.....

EDIT...out @ 4.55.......still on my screen....FWIW

humble1 (tm) · 2 months ago

nice set-up for a key reversal: http://siliconinvestor.advfn.com/readmsg.aspx?m...

Tazman · 2 months ago

Remember FCF?.....buy on the BIG dips...IMO

humble1 (tm) · 2 months ago

if we trade above SPX 1072 for a bit, El Toro Grande should gallop north all day.

Tazman · 2 months ago

CAB....from 16 and now @14.30.....reported AM....GREAT results.....Hmmmmmm

Viper · 2 months ago

Folks fighting to protect the 50dma on the XLF. This is an important level as it has held everytime since the start of the rally. I believe if it breaks we'll see substantial downside in a hurry. If it is defended successfully, we could easily goto new highs.

SnPMonster · 2 months ago

For fellow spider traders...

http://snpmonster.blogspot.com/2009/10/spx-cci-...

Chuckles · 2 months ago

UA reported what look like good numbers and they're down 9% this morning. ???

Tazman · 2 months ago

TRADE ALERT

YRCW @ 3.95.....

EDIT...out @ 4.04....

DYNAMO · 2 months ago

Boughtn CE @ 28.7

greekgoodies · 2 months ago

****TRADE ALERT****

Stopped out TZA @ 12.30 my bad. -.29

Tazman · 2 months ago

I' still holding...tried for 1/2 more @ 12.15...no fill

greekgoodies · 2 months ago

You are a trader......! When I grow up I want to be just like you....

Tazman · 2 months ago

I'm 51....so...based on your age.....might not have to...

greekgoodies · 2 months ago

You got that right....

chaunceyherbie · 2 months ago

$spx should test higher to 20sma (already) and 1076, plus or minus 0.0015%

Tazman · 2 months ago

TRADE ALERT

QTWW @ 1.39.....

moo · 2 months ago

IBM

Modab · 2 months ago

GM all,

IBM just announced a stock buyback... looks like reversal today.... we bounced hard off of the 1057 area on the /ES...rejected price down there for now.

Also...Brinkley and others...bought some MGM down here.... actually bought the NOV 11 calls.... thoughts?

Tazman · 2 months ago

Casino stuff down today....I am watching MPEL....

Sentiment_Al · 2 months ago

I've got a bad case of non-market crisis . . . I'll be putting out those fires all day, but wish everyone well!

morrise · 2 months ago

BXP, Boston Properties, the second largest holding in the IYR reports after the close. who knows what will be there....
http://screencast.com/t/SBHltbrt
http://screencast.com/t/r4TYkB3S
http://screencast.com/t/IpqwVoXNFXM
I'm long the SRS with a stop below the minor low

Chuckles · 2 months ago

Thanks for the charts last night on the financials.

morrise · 2 months ago

just received your message..I'm waiting for some of them to confirm a trend change..if I see it I will post it..I'm still small in the FAZ and have moved my stop to a little below todays low...I was going to buy more with the break of 21 but have decided to wait for a confirmation on those charts...still looking for the earnigs on BXP and have increased my position on the SRS..a break on this guy would help me a lot
http://screencast.com/t/N1yuG2vVaX

Chuckles · 2 months ago

It looks like SLW just filled the gap from a couple of weeks ago.

Tazman · 2 months ago

YRCW AGAIN on a push.....no position

Tazman · 2 months ago

PCX....left yesterday for a nice gain....trading @ 11.85 PM....Q3 adj loss/shr $0.45 vs est loss/shr $0.47 * Q3 sales volume down 4 pct

Did not want to hold prior to results.....Watch ICO...might get a lift....no action PM....FWIW....ask is @ 4.60

Chuckles · 2 months ago

Good moorning moo and the rest of the moostars. Good trading to all today.

Tazman · 2 months ago

FCF....BIG volume @ close yesterday.....buy the dips/sell the push has been my plan.....

Doji Girl · 2 months ago

SVA moving on news it won Chinese order for vaccine.

T. Waffle · 2 months ago

Good morning team.

Hope everyone is doing good. I am back from my trip and ready to make some money :D

Did I miss anything in past 25 days?

greekgoodies · 2 months ago

You saved yourself a lot of money by being away........markets too helter skelter.

T. Waffle · 2 months ago

Well that sounds good heheh.

Tazman · 2 months ago

Welcome back....any insight from the trip?

T. Waffle · 2 months ago

Working on some data transfer after that is done I will be putting charts of Sensex and nifty. :D

Tazman · 2 months ago

Some miners I am watching.....JAG....NG....FRG....MFN....NGD

greekgoodies · 2 months ago

Taz..what about SLW & AUY?

Tazman · 2 months ago

Just some that hit RSI 7 on daily only.....

thyname · 2 months ago

Re: RSI(7) on the daily: I think Moo's strategy is NOT to buy these PMs when they cross 30 downwards, but to wait until the cross back to over 30 later. Please correct me if I am wrong.

moo · 2 months ago

correct, but with gold/silver lately the strongest stocks haven't reached below 30 for a signal to be set up. If you look at the RSI(7) on the daily it should be obvious when a probable good entry is at hand. It could be at 40, 45 even at 50 for some stocks, unless the current market theme changing (rally on USD$) might force further distribution in these stock and they might fall below 30 this time. We'll see soon enough.

Tazman · 2 months ago

Moo looks @ RSI @ different levels based on PM direction......so he might add @ 30....40 level on weekly...monthly I believe...

Chuckles · 2 months ago

You are correct in that the buy signal is on the way up.

moo · 2 months ago

Things have been kept me busy on the non-market aspects of my life and yesterday was particularly difficult for me to give much attention to the blog. Today should be much better.

wex · 2 months ago

Could you post an explanation of the range estimates. I'm unsure how to read them.

Doji Girl · 2 months ago

Good morning Mr. Moo! Things are keeping me busy in my non-market life as well. I don't expect to be able to trade much this week...mostly managing what's left of my positions.

jayinasia · 2 months ago

I guess X earnings weren't good? Hahahaha. That H/S looks pretty good (not as a continuation pattern either).

TIE holding up relatively well here. Long @ 9.22

moo · 2 months ago

New Post!

keithpiccirillo · 2 months ago

Too much work to trade.
In hindsight, it was best to not enter longs for the most part in swing trades, and probably "slim pickens" in day trades over the past week.
I did add to STO, when XOM reports that should move the pile.
MGM was a quick $11.88 to $11.59 loss, thank goodness for stops.
Dangerous sentiment continues.