Thursday, June 30, 2011
New highs but they don't stick
Wow, what a day: POP! Chop chop chop pop! Chop chop chop pop! Chop chop chop pop!
Bulls win in an easy way, as the week before July 4th bullish seasonality coupled with end of quarter Window Dressing plays out
Tomorrow models for a boring day, with a contracted trading range
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Bulls win in an easy way, as the week before July 4th bullish seasonality coupled with end of quarter Window Dressing plays out
Tomorrow models for a boring day, with a contracted trading range
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A quick work off
We were overbought into the price level highlighted earlier. We hit that level and sold off just over 4 points, which apparently was enough to work off the short term overbought nature of the market and we are heaed for the highs again
Rip em!
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Rip em!
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Last hour
We are flirting with the 1312.50 number, but we can't get a strong push below it.
Internals have taken a little dip here, as the $TRIN is now in the .90s and the A-D line is only +1300, but that's not enough of a change to get bearish by any means
1311 is short term support, if 1312.50 decides to give way.
I don't think we pull in very far, if at all but we may decide just to churn it out for the last hour and not ramp. Whatever the decision of the market is, it's a chop fest as of now
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Internals have taken a little dip here, as the $TRIN is now in the .90s and the A-D line is only +1300, but that's not enough of a change to get bearish by any means
1311 is short term support, if 1312.50 decides to give way.
I don't think we pull in very far, if at all but we may decide just to churn it out for the last hour and not ramp. Whatever the decision of the market is, it's a chop fest as of now
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3 O'clock, time to rock?
Consolidating big time here. The most "devious thing" (that which would hurt the most) would be a down swoon, but internals certainly don't back that up
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Consolidation
Bullish action here, with internals confirming
Trade below 1312.50 could be a short term change, but unless it comes with a big shift in internals, it won't be much of one
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Trade below 1312.50 could be a short term change, but unless it comes with a big shift in internals, it won't be much of one
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Wow, an actual dip of more than 2 points from highs?
Watching 1311.75 for support, and as I said earlier 1310 is a short term line in the sand
Turnaround Thursday? A wayyyyyyyyyyyyyyyyyyyyyyyyy long path until that plays out
Internals are still nice and strong, so there's no reason to think this is anything more than just a dip for now
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Turnaround Thursday? A wayyyyyyyyyyyyyyyyyyyyyyyyy long path until that plays out
Internals are still nice and strong, so there's no reason to think this is anything more than just a dip for now
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If anyone likes hard rock
A great rendition of Mob Rules. This guy's voice is awesome.
http://www.youtube.com/watch?v=wFKeo8h_K_k
I first met the lead guitar player (on the singer's left) when he was 16 and playing the club I ran in my younger, long haired days.
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http://www.youtube.com/watch?v=wFKeo8h_K_k
I first met the lead guitar player (on the singer's left) when he was 16 and playing the club I ran in my younger, long haired days.
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Price support
1314.25 is support from a multi day all sessions trend line
I don't think the Bulls need to be nervous until we break below 1310, and then only a little bit!
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I don't think the Bulls need to be nervous until we break below 1310, and then only a little bit!
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Lunch
Can soemone bring me a sandwich? I don't want to leave the screen, I love watching paint sdry so can't leave!
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FNSR, STEC, CREE
FNSR Stopped breakeven as per the video
STEC heading to it's stop
CREE heading to it's breakevne on 2nd half trail
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STEC heading to it's stop
CREE heading to it's breakevne on 2nd half trail
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NO LET UP
Lunch time here and there's no let up
TRIN .83 which is bullish, $VIX is right around 16 down 7 1/4% and the A-D line is strong at 1550
Unless internals change here, then we can look for higher prices in the afternoon
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TRIN .83 which is bullish, $VIX is right around 16 down 7 1/4% and the A-D line is strong at 1550
Unless internals change here, then we can look for higher prices in the afternoon
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The Bulls
The Bulls can certainly be relentless when they want to be.
They disappeared for a while after the Osama spike, but when they decide to step in, they can go for periods of no let up.
It's obvious that some super special gurus were too early calling the death of the market, and the Euro for that matter
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They disappeared for a while after the Osama spike, but when they decide to step in, they can go for periods of no let up.
It's obvious that some super special gurus were too early calling the death of the market, and the Euro for that matter
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volume is lighter than yesterday
Volume is coming in lighter than yesterday, which is more confirmation that a short term high is near
The real question becomes whether the pullback is of any significance
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The real question becomes whether the pullback is of any significance
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Breadth still strong
Breadth is +1500s here, so even with the TICK and MACD diveregnce, the market is still very strong
We hit our resistance, but haven't seen any rejection to speak of. So far, just a whopping 1.5 points, basis the S&P futures
Support at 1313.75
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We hit our resistance, but haven't seen any rejection to speak of. So far, just a whopping 1.5 points, basis the S&P futures
Support at 1313.75
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3 drives to a high
Like yesterday, we are seeing 3 drives to a high here. Watching this reistance to see if we get any rejeciton. Othwerwise, 1320 is next resistance
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132
132 on the SPY has been teested
So far, it's held, but despite the divergences and such menationed in the previous post, we are NOT pulling back here
We are in grind mode here, but voluem is still suggestign exhaustion and a push back down here.
1313 support for now
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So far, it's held, but despite the divergences and such menationed in the previous post, we are NOT pulling back here
We are in grind mode here, but voluem is still suggestign exhaustion and a push back down here.
1313 support for now
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No new TICK high
Divergence here as the market ticks to a new highs, but no new TICK highs and the MACD is in a serious divergence as well as a bearish volume pattenr up here
that last move up may have been exhaustive, but so far there is NO rejection here
Target is the 20EMA (use the 5 minute chart) if this divergence kicks in
Remember, like I said yesterday, divegrences can get eaten up on strong trending moves, so confirmation is key
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that last move up may have been exhaustive, but so far there is NO rejection here
Target is the 20EMA (use the 5 minute chart) if this divergence kicks in
Remember, like I said yesterday, divegrences can get eaten up on strong trending moves, so confirmation is key
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Bulls are strong here
Just when it looked like we had a chance to push lower, the buyers stepped right back in again
Watching for new highs. If we fail there, then a short setup would have good risk reward
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Watching for new highs. If we fail there, then a short setup would have good risk reward
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AAPL
AAPL is still relatively week, but not in tank mode by any means
Rumors today about Steve Jobs going into the hospital
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Rumors today about Steve Jobs going into the hospital
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50 day on the SPY
So far, the 50 day movjng average on the SPY has held
Breadth is once again pretty strong,very tough to fight this here
Bears are feeling the heat
Guess there wil be some "I'm a trader" justificaiton on the short list...
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Breadth is once again pretty strong,very tough to fight this here
Bears are feeling the heat
Guess there wil be some "I'm a trader" justificaiton on the short list...
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Gap Up
It doesn't look like we will open with a big gap up, but I'm looking for a push above the overnight highs for a shoritng opportunity
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9AM update- EUR/CHF
The EUR/CHF fired off overnight short
We did not move stops yet, as 20 ticks was not seen in the trade
Manage as per the video
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We did not move stops yet, as 20 ticks was not seen in the trade
Manage as per the video
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Wednesday, June 29, 2011
Here's a quesiton
Where are all the Dollar Bulls?
Probably looking for the next scam to promote....
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Probably looking for the next scam to promote....
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MA and V news
http://blogs.wsj.com/deals/2011/06/29/swipe-fees-reprieve-visa-mastercard-shares-soar/
Opening Price
Opening price holds steady and we are on the bounce here
Resistance is at 1303.25, the 78.6% Fib of the last swing down
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Resistance is at 1303.25, the 78.6% Fib of the last swing down
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Finally
3 Pushes up, a new high above the overnights and then ka blooooey
Opening price has held so far. If this gives way, look for a retest of lows as a possibility
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Opening price has held so far. If this gives way, look for a retest of lows as a possibility
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Divergence
Divergence at the highs with TICK and the MACD. Remember, a strong trend will rip through divergences like a bowling ball through a wet paper towel
I still have my model in my head for the day, so I still think we can pull in back inside the first hours range, but I won't fight this and I'm surely not going to guess at where it stops
OK, really going to lunch this time!
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Offers at 1304.25
We couldn't tick up there just yet, as the overnight highs had a big batch of supply
If we get up there again, things could be different
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If we get up there again, things could be different
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Going to lunch, but first
Overnight highs are still the upside target here on the long side, and the dips have been eaten up by the bulls
Breadth is still strong here and my read of a digestion day is wrong here for now
I need a fresh mozzy and roasted peppers sandwich to get me through the afternoon!
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Breadth is still strong here and my read of a digestion day is wrong here for now
I need a fresh mozzy and roasted peppers sandwich to get me through the afternoon!
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V Reversal
So far, we have a V reversal in play here
I still don't like us to trend higher all day, but what I like and what happens are very often oppositte
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I still don't like us to trend higher all day, but what I like and what happens are very often oppositte
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Just Doesn't Matter!
We are continuing to grind it here, despite volume issues still showing up
Looks like we are bullish into Obama at the least
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Looks like we are bullish into Obama at the least
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Im caught between....
We are above the 78.6% Fib, which to me is an all out signal that we will retest the highs
BUT
I'm seeing downside volume stepping up a little and exhaustion on the upside
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BUT
I'm seeing downside volume stepping up a little and exhaustion on the upside
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Volume again saying...
That we can pull in here, but the pullbacks have been very shallow since we put in the lows
Sorry for the rapid posts, but Im thinking things out and it helps me when I write them out
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Sorry for the rapid posts, but Im thinking things out and it helps me when I write them out
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TICK divergence
TICK divergence up here, but price is telling us that it doesn't care!
Breadth is also diverging, its off the levels we saw yesterday when we were lower than where we are today
Bulls are in charge for now, and any dip may be a shallow one. The gap was filled early on but it was a lame one, so it wasnt that hard.
tiny
Breadth is also diverging, its off the levels we saw yesterday when we were lower than where we are today
Bulls are in charge for now, and any dip may be a shallow one. The gap was filled early on but it was a lame one, so it wasnt that hard.
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My line in the sand
1301.75 is my line in the sand
If we stay below that, we should push back inside the first hours range and a retest of the 20 EMA on the 5 minute chart
If we shred it, look for overnight highs to be tested
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If we stay below that, we should push back inside the first hours range and a retest of the 20 EMA on the 5 minute chart
If we shred it, look for overnight highs to be tested
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1301.75 resistance
Watching that level for rejection
78.6% Fibonacci level using overnight highs to lows of the day session
78.6% Fibonacci level using overnight highs to lows of the day session
Here is the test of highs
Watching for an entry
Of course, if we just rip it up, that would void it
back to back trend days are rare, so expecting a push outside the first horus rnage to fail
Starting to see volume issues here, so let's see
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Of course, if we just rip it up, that would void it
back to back trend days are rare, so expecting a push outside the first horus rnage to fail
Starting to see volume issues here, so let's see
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Whippy skippy
Lots of noise here early on
If we can get to the highs again, I'll be stalking a shorting op
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If we can get to the highs again, I'll be stalking a shorting op
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today's model
Today's model as discussed on the video, was for a digestion day after the trend day on Tuesday.
that got a little monkey wrench thrown into it pre-market, but we still couldn't hold a big enough gap for me to step in off the open
Im sitting on my hands for the time being, as I wait out the morning churn.
Looks like we are trying to form an early base. Breadth is decent considering as I write this we are only up 2 S&P points
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that got a little monkey wrench thrown into it pre-market, but we still couldn't hold a big enough gap for me to step in off the open
Im sitting on my hands for the time being, as I wait out the morning churn.
Looks like we are trying to form an early base. Breadth is decent considering as I write this we are only up 2 S&P points
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Double top?
S&P went up to retest the highs here and got rejected pretty quickly
Should be a nice and volatile opening here until we get our bearings (no pun intended)
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Should be a nice and volatile opening here until we get our bearings (no pun intended)
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9AM update
All entries stand as per the video, but follow the rules. On stop entries if the stock opens below the entry, the trade is canceled, if the stops are are hit before the entries the trades are also canceled
For limit entries if stops are hit first, the trade is canceled, otherwise the limits are valid
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For limit entries if stops are hit first, the trade is canceled, otherwise the limits are valid
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Tuesday, June 28, 2011
Nice Job ByThe Bulls
The Bulls have put up a good showing today
The 60 minute chart is a bit extended here, so I'm looking for a shot term rest. if we gap up it would be a nice spot for a short fade, but more on that later
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The 60 minute chart is a bit extended here, so I'm looking for a shot term rest. if we gap up it would be a nice spot for a short fade, but more on that later
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Bulls are the boss
That "scalp" turned out to be a new high, and the Bulls are continuing to rule the roost here.
I'm starting to see some upside volume issues, but it could just be lunchtime, which is why Im headed for my fresh mozzy with roasted peppers sandwich
Ill be back later
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I'm starting to see some upside volume issues, but it could just be lunchtime, which is why Im headed for my fresh mozzy with roasted peppers sandwich
Ill be back later
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A scalp at least
So far, the pullback has led to a scalp opportunity, and could be headed for a new high
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this pullback
Volume is starting to slow down on this pullback.
That should lead to a bounce, but whether we get to new highs or not is the big question.
We may just see a short term little push that's good for a scalp
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That should lead to a bounce, but whether we get to new highs or not is the big question.
We may just see a short term little push that's good for a scalp
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GBP/USD
Stopped out for a scratch
Good move in the 9AM update it appears, as the push up was rejected
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Good move in the 9AM update it appears, as the push up was rejected
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Breadth still strong
Im not calling another high here, I already did that today! I stayed safe thanks to the A-D line, but the price action read was wrong.
As long as breadth is trending higher, the bulls have to be given teh benefit of the doubt
it's still early, and a lot can change quickly
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As long as breadth is trending higher, the bulls have to be given teh benefit of the doubt
it's still early, and a lot can change quickly
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NOPE!
Well, we got a bigger pull in than last time, but highs are being tested, and now broken once again
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Highs in?
Sellers will need to confirm, but volume up at the highs is suggestive of exhaustion
Breadth is keeping me from leaning on the short side here
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Breadth is keeping me from leaning on the short side here
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New highs, but...
Volume suggesting a deeper pull in than last time is looming
Of course, since last time was only 1.25 points, thats not saying much
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Of course, since last time was only 1.25 points, thats not saying much
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So far
Just a little over a point of pullback
Not much downside pressure after the push off the highs, suggesting the bulls are still sticking around, at least for NOW. Since Im watching such a small time frame, this can change quickly
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Not much downside pressure after the push off the highs, suggesting the bulls are still sticking around, at least for NOW. Since Im watching such a small time frame, this can change quickly
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Looking for a pull in
I just don't know how deep. Short term upside volume dry up and reversal here
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Here they come
Buyers stepping in, but will it be enough to push to a new highs
Could exhaust themselves by the time they get there
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Could exhaust themselves by the time they get there
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Breadth is good
The A-D line is about where it was at the highs yesterday
Could be a possible small ABC down here before new highs are seen, but the bulls have to come in with some volume, or else the highs of the AM may have been seen
I'm waiting for some more evidence
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Could be a possible small ABC down here before new highs are seen, but the bulls have to come in with some volume, or else the highs of the AM may have been seen
I'm waiting for some more evidence
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Dull opening
Dull open, but watching for a first push here. if we push to the overnight highs, Ill be watching for a shorting op
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9AM update
FOREX:
GBP/USD did not trigger, the trigger is still live, just move the first stop move target to 30 ticks. So 30 ticks would move stops to breakeven. if the stop hits before the entry, the trade is canceled, as always
Stocks:
General rules apply. If the stop is hit before the entry, or the gap opens below the entry the trade is canceled
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GBP/USD did not trigger, the trigger is still live, just move the first stop move target to 30 ticks. So 30 ticks would move stops to breakeven. if the stop hits before the entry, the trade is canceled, as always
Stocks:
General rules apply. If the stop is hit before the entry, or the gap opens below the entry the trade is canceled
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Monday, June 27, 2011
The highs appear to be in
Bulls made it above Friday's highs, but we couldn't stick.
I'm not looking for a "whoosh" like move to the downside here, but the highs appear to be in
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I'm not looking for a "whoosh" like move to the downside here, but the highs appear to be in
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Mini Wedge
We just fell out of a mini wedge that formed as we grinded to the new highs
Watch the 20EMA on the 5 minute chart for support
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Watch the 20EMA on the 5 minute chart for support
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Flag gets its target
New highs was the target for the flag, but follow through is LAME here.
If we don't step up soon, look for reversion back to the 20EMA on the 5 minute cahrt
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If we don't step up soon, look for reversion back to the 20EMA on the 5 minute cahrt
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New high....
By a tick! no follow through so far
1283 is next upside resistance, the daily 20 period moving average
Breadth is solid, let's see if the Bulls can put something together here
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1283 is next upside resistance, the daily 20 period moving average
Breadth is solid, let's see if the Bulls can put something together here
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Flagging?
Chart looking more like a continuation pattern than a reversal or rejeciton.
If so, Friday's highs are in jeopardy
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If so, Friday's highs are in jeopardy
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First sign of rejection
On the 5 minute bar, a we test 1 tick below Friday's highs
This may only be a pause before we mount it, but it's definitely an inflection point
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This may only be a pause before we mount it, but it's definitely an inflection point
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Here's what I'll be watching for.....
Rejection of Friday's highs and a small pattern setup on a 500 tick or 1 minute chart
If we rip right through Friday;s highs and stick there, I won't be trying the short side...
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If we rip right through Friday;s highs and stick there, I won't be trying the short side...
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200 day MA holds, but.....
We look like we are forming an inside day for today. I'm expecting the highs from Friday to hold, which means if we get up towards there, I'll be looking for a shorting op, with a pretty tight stop loss
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The Blog Will Be Dark This AM!
I forgot, I have an appointment this AM, I'm leaving right near the open. Ugh! Who sets these times?
I should be back late morning or early afternoon so check back in a few hours
We just went red again on the S&P Futures, but we are at Fibonacci support using the all sessions chart.
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I should be back late morning or early afternoon so check back in a few hours
We just went red again on the S&P Futures, but we are at Fibonacci support using the all sessions chart.
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Sunday, June 26, 2011
Saturday, June 25, 2011
My Neighbor Sucks!
Sorry folks but my neighbor cut my Fios line AGAIN. The last time it was from planting there trees, and this time it was installing there sprinklers.
I haven't had internet since about 12:30PM Friday, but the good folks at Verizon promised they will be out tomorrow to fix it.
If you don't see any videos from me that's the reason why, but I am working on putting together two cups and a string on a worse case for Monday.
Thanks for the emails, I am still getting them on my phone, but the internet on my phone sucks so I had my friend Joe put this post up for me.
Hopefully I will talk to you soon,
Michael "Tiny" Saul
I haven't had internet since about 12:30PM Friday, but the good folks at Verizon promised they will be out tomorrow to fix it.
If you don't see any videos from me that's the reason why, but I am working on putting together two cups and a string on a worse case for Monday.
Thanks for the emails, I am still getting them on my phone, but the internet on my phone sucks so I had my friend Joe put this post up for me.
Hopefully I will talk to you soon,
Michael "Tiny" Saul
Friday, June 24, 2011
The Bulls are trying
We are trying to put in a hard bottom here
1263 was not tested (yet) and breadth has improved to only -700s
Let's see if we get a break above 1270 with some volume
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1263 was not tested (yet) and breadth has improved to only -700s
Let's see if we get a break above 1270 with some volume
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WRONG!
Today, my model was for weakness to get bought and clean up that open gap from yesterday. While we did move higher overnight, so far in the day session, the SPY and S&P Futures gaps remain unfilled.
Bears had other ideas apparently. Why didn't they listen to my S&P video! Stupid Bears! rrrrrrrrg!
When I'm wrong I always reduce size immediately, so I don't let my stubbornness (nah not me) creep into things and ruin an otherwise good week. With my size now, I can get hurt, but it would take a very big move against me (flash crash size) to do so. That's where I want to be until I get in sync with the market, which may not be until Monday at this point, as I'm still looking for a place for us to bounce, especially since we just held the 78.6% Fib of the last swing up.
Or maybe (probably) I'm just justifying what I want to see!
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Bears had other ideas apparently. Why didn't they listen to my S&P video! Stupid Bears! rrrrrrrrg!
When I'm wrong I always reduce size immediately, so I don't let my stubbornness (nah not me) creep into things and ruin an otherwise good week. With my size now, I can get hurt, but it would take a very big move against me (flash crash size) to do so. That's where I want to be until I get in sync with the market, which may not be until Monday at this point, as I'm still looking for a place for us to bounce, especially since we just held the 78.6% Fib of the last swing up.
Or maybe (probably) I'm just justifying what I want to see!
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1 day wonder?
Was yesterday just a 1 day wonder? Bears are back, but not as fierce as early on yesterday. Breadth is only -1k, which is not as awful, if awfulness can be measured!
1263 is next support for the S&P futures, upside resistance is the 20 EMA on the 5 minute chart at 1270.75 for now, but coming down at a brisk pace.
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1263 is next support for the S&P futures, upside resistance is the 20 EMA on the 5 minute chart at 1270.75 for now, but coming down at a brisk pace.
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Thursday, June 23, 2011
No Forex video tonight
I'll do one over the weekend and look a little bit deeper into some of the crosses.
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Whoppa!
Nice pop here off Greece news
resistance smacked straight into the 162% fib external retracmenet
Chart to follow
resistance smacked straight into the 162% fib external retracmenet
Chart to follow
Better late than never!
Well after finally going to sleep at 6:30 this morning, I just recently got up to check in on the watch list and the market. With only 4 hours of sleep in me, I wont be trading until the afternoon, if at all.
Bears are in control here, and the 200 day moving average on the SPY is finally tested. While this could be the bottom of the range I've been talking about, I still think there is a good chance that we test the small range from the lows from March 16th, down to 124.77.
As I've been saying, I think we form a range here more than anything else over the next several weeks to months. If I'm wrong and we break down hard, I'll be looking for continuation patterns.
For now, let's see if the 200 day is enough to bring the bulls back in, at least for a little bit.
1263.75 is short term resistance here basis the S&P 500 Futures, and based on early momentum, the lows do not look like they are in for the day, but we'll see what the recent buyers here have to say about that.
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Bears are in control here, and the 200 day moving average on the SPY is finally tested. While this could be the bottom of the range I've been talking about, I still think there is a good chance that we test the small range from the lows from March 16th, down to 124.77.
As I've been saying, I think we form a range here more than anything else over the next several weeks to months. If I'm wrong and we break down hard, I'll be looking for continuation patterns.
For now, let's see if the 200 day is enough to bring the bulls back in, at least for a little bit.
1263.75 is short term resistance here basis the S&P 500 Futures, and based on early momentum, the lows do not look like they are in for the day, but we'll see what the recent buyers here have to say about that.
tiny
Wednesday, June 22, 2011
Seling into the clsoe
Selling hitting the tape into the close
volume is on the light side over all
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volume is on the light side over all
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Back on the upside move
Trying to get to yesterday's highs after all.
This is why I like to avoid the chop, but as I think about it....
I might be a self fulfilling prophecy for me. I think FOMC day is going to be choppy, therefore it is choppy!
Hmmmmmmmmmm
Very zen like if you ask me....
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This is why I like to avoid the chop, but as I think about it....
I might be a self fulfilling prophecy for me. I think FOMC day is going to be choppy, therefore it is choppy!
Hmmmmmmmmmm
Very zen like if you ask me....
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ooooooooooooooo Rejection
We got above the 78.6% Fibonacci retracement, which suggests that we would tag yesterday highs, but after moving jut a point higher, we rejected.
Support is opening price at 1286
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Support is opening price at 1286
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Australian Dollar
Its a choppy mess on the daily chart. We should see a nice directional move out of this one, but the question is, when?
The ADX is still above 10 so I'm not at the "any minute" phase yet.
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The ADX is still above 10 so I'm not at the "any minute" phase yet.
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Gap
Wasn't my 4 point requirement so I'm passing here
Ill watch for something to set up this AM, but more than likely, Im on the sidelines until after 2:15
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Ill watch for something to set up this AM, but more than likely, Im on the sidelines until after 2:15
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Tuesday, June 21, 2011
New Blog and more
I will be launching my new blog early next week. I've decided to keep this one open so that I can put quick blurbs and talk during the trading day. the other blog will focus on education and training for the trader.
There will also be a way to sign up and get emails form me about every day or so with information and videos that will just be for subscribers and it will be for free.
My newsletter will be beta testing after the 4th of July. I'll be looking for some people to give me feedback and tell me how I can make it more useful and of course, what info you want to help you make MONEY.
tiny
There will also be a way to sign up and get emails form me about every day or so with information and videos that will just be for subscribers and it will be for free.
My newsletter will be beta testing after the 4th of July. I'll be looking for some people to give me feedback and tell me how I can make it more useful and of course, what info you want to help you make MONEY.
tiny
Videos For Tonight
Wednesday is FOMC announcement day so no videos tonight except for the S&P 500 video which will be posted by 11PM
Cancel all entries on stocks. The $EURUSD was canceled when the stop was hit before the entry last night.
There should be some setups on Thursday after the FOMC announcement is behind us.
Trade well,
tiny
Cancel all entries on stocks. The $EURUSD was canceled when the stop was hit before the entry last night.
There should be some setups on Thursday after the FOMC announcement is behind us.
Trade well,
tiny
Will it matter?
More news out of Greece, and in the end I doubt it matters.
We got a real nice bounce today in the stock market, with some volume and breadth back up, but I still think that the lows of this range have not been seen yet.
More later.
tiny
We got a real nice bounce today in the stock market, with some volume and breadth back up, but I still think that the lows of this range have not been seen yet.
More later.
tiny
A little rejection
A little overshoot followed by rejection of the highs, but nothing saying this is "the" highs.
I'm on the fence until the gap tomorrow if there is one, and then after the announcement at 2:15 Eastern
tiny
I'm on the fence until the gap tomorrow if there is one, and then after the announcement at 2:15 Eastern
tiny
Test of highs
Possible double top scenario, but the bears are absent and breadth is very strong today
Not the type of market that begs to be faded.
tiny
Not the type of market that begs to be faded.
tiny
They never learn
The scam artists that tout super duper lists and strategies just don't understand how the trends really work.
They get bearish at the lows, and bullish at the highs over and over and over again.
Remember: As soon as they get super biased and start selling their over hyped nonsense, its time to fade em!
tiny
They get bearish at the lows, and bullish at the highs over and over and over again.
Remember: As soon as they get super biased and start selling their over hyped nonsense, its time to fade em!
tiny
Early push higher
No fade, we pushed higher into 10AM and a bit after.
Short term resistance is here, let's see how far we pull back, or if we just move sideways.
tiny
Short term resistance is here, let's see how far we pull back, or if we just move sideways.
tiny
FOMC day, part 1
Today is the 1st day of a 2 day FOMC meeting.
There is a bullish tendency into the meeting, and it appears we started to see the bounce yesterday.
It may be a dull day, and if so, remember to protect first, worry about trading second.
We are getting a gap above 4 points, so I will be watching for a fade, but if it dries up volume wise after 10, Ill be sitting on my hands
Have a great trading day
tiny
There is a bullish tendency into the meeting, and it appears we started to see the bounce yesterday.
It may be a dull day, and if so, remember to protect first, worry about trading second.
We are getting a gap above 4 points, so I will be watching for a fade, but if it dries up volume wise after 10, Ill be sitting on my hands
Have a great trading day
tiny
Monday, June 20, 2011
No Watch List Video Tonight
I don't want to waste the bandwidth!
SWI is canceled
The two shorts are still valid. You can view yesterday's video here
Check back for the 9AM update right here tomorrow.
There will be a Forex video if it ever uploads.
tiny
SWI is canceled
The two shorts are still valid. You can view yesterday's video here
Check back for the 9AM update right here tomorrow.
There will be a Forex video if it ever uploads.
tiny
Really?
I just saw an ad for a "proven" options trading system that can double your account every month.
I mean, really?
I tried to go back to the site, but I cant find it, and have to backtrack where I was linked from. I want to read the WHOLE copy, maybe I am missing something!
lol
tiny
I mean, really?
I tried to go back to the site, but I cant find it, and have to backtrack where I was linked from. I want to read the WHOLE copy, maybe I am missing something!
lol
tiny
S&P video
Ill do a new one tonight, I rebooted but its already an hour into the trading session
Ill make sure to do one nice and early today
tiny
Ill make sure to do one nice and early today
tiny
S&P video for Modnay
Opera is not letting me open the capture tool, so I need a reboot in order to dot eh video
Ill post it in a little bit
The quick and dirty version:
Im still looking for a test of the 200 day simple moving average on the SPY at a minimum, if not the Mid March lows before a decent bounce.
I think the hucksters and hypester/liars that are predicting a swift and ugly crash (even though they were bullish just a week or so ago) are early.
tiny
Ill post it in a little bit
The quick and dirty version:
Im still looking for a test of the 200 day simple moving average on the SPY at a minimum, if not the Mid March lows before a decent bounce.
I think the hucksters and hypester/liars that are predicting a swift and ugly crash (even though they were bullish just a week or so ago) are early.
tiny
It was such a nice gap!
S&P Futures now gapping small, but overnight they were gaping up so nicely.
I have to have at least 4 points to qualify as an open fade opportunity, but that's my rules, not yours.
if not, I'll just wait on the sidelines for an AM consolidation or another setup
tiny
I have to have at least 4 points to qualify as an open fade opportunity, but that's my rules, not yours.
if not, I'll just wait on the sidelines for an AM consolidation or another setup
tiny
Watching the Euro here
The Euro opened with a gap down and while it tried, it couldn't get a gap fill in the evening to overnight session
Im watching for it to fill the gap here, but I don't know how much further it can get
tiny
Im watching for it to fill the gap here, but I don't know how much further it can get
tiny
Sunday, June 19, 2011
It's easy to be a bear
When you call a crash every few weeks! Eventually you will be correct, but you'll have to raise prices and run more scams in order to cover your losses!
tiny
tiny
Saturday, June 18, 2011
Friday, June 17, 2011
DTO mentioned earlier this week
55.62 is the 200 day moving average, which is resistance to watch. Friday's candle was a spinning top which means momentum may be waning here for the time being
DUG didn't go very far this week.
tiny
DUG didn't go very far this week.
tiny
AM consolidaiton
We have formed a morning consolidation. Here are the levels to watch basis the S&P 500 Futures: 1271.50 upside 1269.75 downside
It's Friday and its OE day, so be careful of whipsaws and fakeouts
tiny
It's Friday and its OE day, so be careful of whipsaws and fakeouts
tiny
Thanks for the well wishes and I should be back full time next week
Thank you everyone for the well wishes regarding my youngest son. He was admitted to the hospital on Monday for an infection, and should be leaving today or tomorrow.
Hes doing great, and it's awesome to see him so happy when he sees me and his brothers, but its a stress on my wife and I. I'm watching my two other boys and I must say that I have SEVERELY underestimated my wife's skills in this area.
I still wouldn't get random nannies and trust them with their well being, no matter how much money I had, but hey, that's just me.
I should be back next week full time.
tiny
Hes doing great, and it's awesome to see him so happy when he sees me and his brothers, but its a stress on my wife and I. I'm watching my two other boys and I must say that I have SEVERELY underestimated my wife's skills in this area.
I still wouldn't get random nannies and trust them with their well being, no matter how much money I had, but hey, that's just me.
I should be back next week full time.
tiny
nope...
Straight fade was the best entry here. first target achieved
I'll now be watching for another entry
tiny
I'll now be watching for another entry
tiny
Opening
It doesn't look like we are headed there currently, but Im watching for a push to overnight highs for a shorting op. This is for the first half hour only.
tiny
tiny
Nice size gap
It appears we will have a nice size gap up to start the session.
Ill be watching for a fade entry
tiny
Ill be watching for a fade entry
tiny
No 9AM update
Sorry, I thought there was a stock to add on but it turns out there isn't.
No change from the video
tiny
No change from the video
tiny
Thursday, June 16, 2011
No Forex video tonight
No Forex video again for Friday, I want to see how the week ends and do a detailed analysis over the weekend, most likely Sunday night.
tiny
tiny
Overnight highs
We fell 1 tick shy of overnight highs on that last push up. that might be the workd done for the Bulls, but its still early here.
Philly Fed may spike us either way
tiny
Philly Fed may spike us either way
tiny
Got the small push up
We didn't scream higher here, but we got a small push up towards the overnight highs
Breadth is +600s early on here.
The Philly Fed number is due out at 10AM and that can move us. There's no way to predict which way, despite what some may tell you. It's GAMBLING trying to guess here.
tiny
Breadth is +600s early on here.
The Philly Fed number is due out at 10AM and that can move us. There's no way to predict which way, despite what some may tell you. It's GAMBLING trying to guess here.
tiny
Is this all the bulls can do?
No real gap, so it's wait and see mode for now.
We have the TRIN signal which suggests a bounce, but let's se how far we cna actually get.
As of now, it looks like we want to try to push a little bit higher here to start.
I'm going to be keying in on the overnight highs.
tiny
We have the TRIN signal which suggests a bounce, but let's se how far we cna actually get.
As of now, it looks like we want to try to push a little bit higher here to start.
I'm going to be keying in on the overnight highs.
tiny
Small gap for now
Small gap down for now, but let's see if any more selling comes in before the opening
tiny
tiny
Wednesday, June 15, 2011
Recommended Reading List
People are asking me about what books I recommend
First, there is a book out there with my name on it. DO NOT buy that book. It's not mine.
Here is a list of books that I recommend. They aren't free, but you won't get hardcore "guilt" sold a 15,000 worthless mentoring package if you buy them.
http://tinystmv.blogspot.com/p/recommended-reading-list.html
tiny
First, there is a book out there with my name on it. DO NOT buy that book. It's not mine.
Here is a list of books that I recommend. They aren't free, but you won't get hardcore "guilt" sold a 15,000 worthless mentoring package if you buy them.
http://tinystmv.blogspot.com/p/recommended-reading-list.html
tiny
No Forex video, but here's an update
The EUR/AUD was canceled it got killed overnight and never triggered.
The Euro got smashed on Wednesday and subsequently the US Dollar rallied, so I'm going to wait a bit to let the dust settle here and not post a video tonight.
The stock market watch list will be posted in a little bit with three new potential triggers.
tiny
The Euro got smashed on Wednesday and subsequently the US Dollar rallied, so I'm going to wait a bit to let the dust settle here and not post a video tonight.
The stock market watch list will be posted in a little bit with three new potential triggers.
tiny
Opening
Im gone for the day unfortunately, so the blog will be dark.
I would be watching this for a fade, but I wont be here to take it.
Have a great trading day
tiny
I would be watching this for a fade, but I wont be here to take it.
Have a great trading day
tiny
Early morning selling
We are seeing early morning selling off the 8:30 CPI numbers
I'll be watching a big gap down for a fading opportunity, for a scalp
It's still way early here, so we may retrace a bit of this, or we could move lower.
Right now we are stretched here, so consolidation would not surprise me
tiny
I'll be watching a big gap down for a fading opportunity, for a scalp
It's still way early here, so we may retrace a bit of this, or we could move lower.
Right now we are stretched here, so consolidation would not surprise me
tiny
EUR/AUD
The EUR/AUD cross was on the Forex video for today. It didn't trigger and rolled over hard. The entry is canceled as per the video rules.
tiny
tiny
Tuesday, June 14, 2011
It's very early...
It's very early but breadth is nice and strong at +1900 and change
I'm waiting for a push higher to watch for a shorting op, but not for very long.
tiny
I'm waiting for a push higher to watch for a shorting op, but not for very long.
tiny
I won't be here much today
I have some family issues to deal with today so I wont be here for most of the day.
I am watching this gap up for a fade but as of now we are back to the 20 period exponential moving average, all sessions chart, so I will be waiting for a bounce to look for a short entry, or passing on the fade.
tiny
I am watching this gap up for a fade but as of now we are back to the 20 period exponential moving average, all sessions chart, so I will be waiting for a bounce to look for a short entry, or passing on the fade.
tiny
Monday, June 13, 2011
Drifting
We are in a tight range here so far today
Breadth is pretty lame, basically flat on the session.
No gap fill yet, but it's still early and unless internals improve, that's the way I'm leaning, but there is no trigger as of now
tiny
Breadth is pretty lame, basically flat on the session.
No gap fill yet, but it's still early and unless internals improve, that's the way I'm leaning, but there is no trigger as of now
tiny
Opening
We are gapping up better than 4 points, which means I will be watching for a gap fade entry
tiny
tiny
Sunday, June 12, 2011
Video
http://www.screencast.com/t/PSfmpHirIwAp
I did this video to answer some questions on the divergence and Keltner channels I was talking about on Friday
tiny
I did this video to answer some questions on the divergence and Keltner channels I was talking about on Friday
tiny
Friday, June 10, 2011
Can't get off the bototm
No fade, and we are forming what appears to be a bear flag here
breadth is nasty at -1800
tiny
breadth is nasty at -1800
tiny
Nice bounce off the new lows
We took out the overnight lows (basis the S&P futures) just before we opened up and got a bounce. We still got the 4 point minimum gap that I watch for, but no trigger here yet
Im watching for one, and my interest will grow if we retest those lows
tiny
Im watching for one, and my interest will grow if we retest those lows
tiny
9AM update for Friday
As always, if we open below the trigger price or trade to the stop before the trigger, the trade is canceled
tiny
tiny
Thursday, June 9, 2011
Forex and S&P videos for Friday
No Forex video for tonight as there's still not much setting up on the daily charts. Ill do a full recap over the weekend.
S&P 500 video will be posted in the AM
tiny
S&P 500 video will be posted in the AM
tiny
Market Breadth
Market breadth is still not super strong, but it is above 1000, so certainly can not say its bearish by any means
Breadth was stronger than this on Tuesday before the rollover started, but that doesn't mean it will happen today.
Price action still favoring the bulls, very tough to short here for now, but we've seen that change quickly
tiny
Breadth was stronger than this on Tuesday before the rollover started, but that doesn't mean it will happen today.
Price action still favoring the bulls, very tough to short here for now, but we've seen that change quickly
tiny
Back to the 20EMA here
All sessions 20EMA on the 5 minute has been tested and is so far, holding.
Gap did not get a full fade, this is usually a bullish sign.
Breadth could be better as it's only +800s, but can;t argue with price action here
tiny
Gap did not get a full fade, this is usually a bullish sign.
Breadth could be better as it's only +800s, but can;t argue with price action here
tiny
Small $TICK divergence
Small $TICK divergence up here, but it's not enough of one to predict a big move
tiny
tiny
6 days down
We had 6 days down into the S&P 500 today, and are seeing a mini snap back. It's certainly way too early to call it a full snap back, but for now we have a bullish chop bias on rollover day. That's if you want to get specific ;)
Watching for the first hour range to form here.
tiny
Watching for the first hour range to form here.
tiny
So far a nice fade
So far a nice fade if you took it off the open, which I don't. Target is overnight lows and then red on the day. I'm waiting for a setup
tiny
tiny
Wednesday, June 8, 2011
videos
No Forex video tonight. No setups on the daily time frames, just the smaller ones.
S&P video will be done in the morning, I want to wait and see what the overnight trading looks like
thanks for all the feedback I've been getting lately. I really appreciate it.
tiny
S&P video will be done in the morning, I want to wait and see what the overnight trading looks like
thanks for all the feedback I've been getting lately. I really appreciate it.
tiny
Beige Book
Due out at 2PM Eastern
Market seems to want to move off it, but who knows.
Maybe a finishing touch to this drip down?
tiny
Market seems to want to move off it, but who knows.
Maybe a finishing touch to this drip down?
tiny
market update
We are acting weak again and breadth is still crappy here. A test of overnight lows looks like a good possibility.
tiny
tiny
Morning triangle
We had a nice morning triangle formed
It broke down, but didn't get more than a few ticks
Back to wait and wait and wait and oh yeah, see mode
tiny
It broke down, but didn't get more than a few ticks
Back to wait and wait and wait and oh yeah, see mode
tiny
First half hour is in
Basis the S&P Futures:
Support is 1276.25 (overnight lows) and resistance is today's highs
tiny
Support is 1276.25 (overnight lows) and resistance is today's highs
tiny
CMI straight down!
Unfortunately, it opened below the entry point so it was canceled
RL as well
this is frustrating!
tiny
RL as well
this is frustrating!
tiny
Interesting stat
Not my stat, but grabbed it off a feed I watch, and it's food for thought
"SPY has dropped 5 straight days into a Tuesday 11 times. All 11 times it has rallied on Wednesday"
As I said on my video, we may get a bounce for a day or even a few days, but I don't think we get a good rally until we test that level highlighted.
tiny
"SPY has dropped 5 straight days into a Tuesday 11 times. All 11 times it has rallied on Wednesday"
As I said on my video, we may get a bounce for a day or even a few days, but I don't think we get a good rally until we test that level highlighted.
tiny
9AM update
No changes, the same rules apply, If anything opens below the short triggers its canceled. If anything trades to the stop before the entry, it's canceled
tiny
tiny
Tuesday, June 7, 2011
Quick look at the market
Got a nice little extension to the upside early, but we've rolled over a little bit. Breadth is still +1k and we are still positive.
This is not turnaround Tuesday here. In order for that have happened, we would have had to have weakness early followed by a bounce and rally later on. We have been green since the open, so a turnaround would be a drop later on. Right now, that would be fighting against the tide, so unless there is a shift, the bulls still look like they are the boss, at least on the short term.
tiny
This is not turnaround Tuesday here. In order for that have happened, we would have had to have weakness early followed by a bounce and rally later on. We have been green since the open, so a turnaround would be a drop later on. Right now, that would be fighting against the tide, so unless there is a shift, the bulls still look like they are the boss, at least on the short term.
tiny
Short term resistance here
we are at short term resistance here, but we could easily go back to the overnight highs here if we don't see some rejection
tiny
tiny
Opening for Tuesday, June 7th 2011
We got an opening gap off the TRIN over 2 close, but as soon as the bell rang we took a dip.
Waiting for a clean setup here
tiny
Waiting for a clean setup here
tiny
Monday, June 6, 2011
9AM update, yep real early!
$AUDCAD stopped out +50 ticks on the remaining half. The $EURUSD stopped out -50 ticks on the whole position.
Net on the trades was about 25 ticks or so. It's better than a sharp stick in the eye, but the $EUR was looking weak for a bit, it just couldn't die for us.
tiny
Net on the trades was about 25 ticks or so. It's better than a sharp stick in the eye, but the $EUR was looking weak for a bit, it just couldn't die for us.
tiny
market update
OK, so the S&P Futures, all sessions chart hit the target of 1290.25. The SPY came a little short of 129.51, and we may want to go down and kiss that before we get a better bounce.
tiny
tiny
Target achieved
1290.25 was tagged, target achieved on the short term
If we are going to now continue to trade in a range, this would be a spot to build a small base and then get a bounce from
tiny
If we are going to now continue to trade in a range, this would be a spot to build a small base and then get a bounce from
tiny
Overnight lows
The overnight lows, basis the S&P futures at 1292.25 are the first downside target form here, then 1290.25 is in play
tiny
tiny
TICK again
TICK got to -900, may be all she wrote on the downside?
breadth is not nice (-1100) even if it is early
tiny
breadth is not nice (-1100) even if it is early
tiny
TICK
TICK is minorly (is that even a word?) flushing here, -600s
No follow through either way.....yet!
tiny
No follow through either way.....yet!
tiny
It's early
But breadth is negative
S&P Futures:
Resistance- Minor- High of day, then 1300
Support- Minor Low of day, then 1292.25
tiny
S&P Futures:
Resistance- Minor- High of day, then 1300
Support- Minor Low of day, then 1292.25
tiny
Opening
Wooooo hooooooooooo exciting!
Looks like we want to try and push up here, but don;t know how far we will actually get.
Watching intra-day resistance for a shorting op, if breadth is strong I'll pass
Overnight session hit one of the targets I was watching, which was Friday's lows. 1290.25 is still an open target on the downside, in my opinion.
tiny
Looks like we want to try and push up here, but don;t know how far we will actually get.
Watching intra-day resistance for a shorting op, if breadth is strong I'll pass
Overnight session hit one of the targets I was watching, which was Friday's lows. 1290.25 is still an open target on the downside, in my opinion.
tiny
Watch List Update
UTHR got yoinked, that trade is canceled
MAKO still open, but if it hits the stop before the entry it's canceled too
tiny
MAKO still open, but if it hits the stop before the entry it's canceled too
tiny
9AM update for Stocks
UTHR looks to be cracked pre market. As always, if we gap above (or below if its a short) a trigger or trade below a stop (or above) before a trigger is hit, the trade is CANCELED
This goes for ALL stocks on the watch list, including MAKO for today
tiny
This goes for ALL stocks on the watch list, including MAKO for today
tiny
9AM update
Forex:
$AUDCAD is half off adn riding half with a 51 tick locked in gain stop. Looking for the second piece off +160
$ERUSD turned around, still under water. If the trade gets back to breakeven, use a 50 tick stop instead of 100 ticks and manage the rest as per the video
Stock update will be a little delayed, but will be up by 9:05 (no changes expected anyway)
tiny
$AUDCAD is half off adn riding half with a 51 tick locked in gain stop. Looking for the second piece off +160
$ERUSD turned around, still under water. If the trade gets back to breakeven, use a 50 tick stop instead of 100 ticks and manage the rest as per the video
Stock update will be a little delayed, but will be up by 9:05 (no changes expected anyway)
tiny
Sunday, June 5, 2011
Great article
And it's even more important to watch out for hedge fund offerings from scammers. That will double the scamming fun! NOT!
http://www.businessinsider.com/hedge-funds-have-been-a-scam-for-the-past-twenty-years-2010-9
tiny
http://www.businessinsider.com/hedge-funds-have-been-a-scam-for-the-past-twenty-years-2010-9
tiny
Friday, June 3, 2011
Why its good to use stops and manage your positions
There are a lot of super gurus out there that don't use stops, or double down when they "feel" or "dream" that a stock is going to do something. What they don't tell you is that if they lose, they will put out a high priced, super hyped class that will leave you feeling cheated and just plain old disappointed and refund their gambling account.
I can't have my assistant wire out the loot from this month's bounty when I have a margin call. Therefore, I have to use stops at all times, or risk extinction.
You can't get it back tomorrow if you don't have any gas left in the tank after today. But even if you are running on fumes, you still have a chance.
Small stops, and try your best to milk your winners (my personal struggle for years), but always manage, manage, manage. It's your money after all!
RIMM from last week's small stop out:
tiny
I can't have my assistant wire out the loot from this month's bounty when I have a margin call. Therefore, I have to use stops at all times, or risk extinction.
You can't get it back tomorrow if you don't have any gas left in the tank after today. But even if you are running on fumes, you still have a chance.
Small stops, and try your best to milk your winners (my personal struggle for years), but always manage, manage, manage. It's your money after all!
RIMM from last week's small stop out:
tiny
SINA and SOHU
Getting cracked here, check out the reversals from earlier pushes up on these
So much for SOHU holding that trigger point. This will definitely be on the list for Monday
tiny
So much for SOHU holding that trigger point. This will definitely be on the list for Monday
tiny
SOHU wow
What a reversal on SOHU
If it doesn't hit the trigger today (the trigger was CANCELED AS PER THE RULES), it will be on the list for Monday
Serious rejection on that one
tiny
If it doesn't hit the trigger today (the trigger was CANCELED AS PER THE RULES), it will be on the list for Monday
Serious rejection on that one
tiny
$EURUSD just triggered
as per the Forex video
30 ticks moves stops to entry
$AUDCAD stops are already moved to entry
tiny
30 ticks moves stops to entry
$AUDCAD stops are already moved to entry
tiny
Someone just told me...
Someone just told me that I shouldn't inject the negative energy into NFLX, because by me saying that, it's going to stop out
Usually I would send a private reply but since this person obviously reads the blog I'll reply here
If you think that energy, positive or negative is what makes winning or losing trades, you need to find something else to do with your money.
You need to inject good money management into your trading, not good "energy"
The trader with the "biggest heart" doesn't win
The trader that "wants it the most" doesn't win
It's the trader that understands their risk management and applies it. It's the trader that trades with a plan, win lose or draw. The market rewards discipline. those are the traders that survive. The rest is nonsense.
NFLX just stopped out, and by .02 no less
tiny
Usually I would send a private reply but since this person obviously reads the blog I'll reply here
If you think that energy, positive or negative is what makes winning or losing trades, you need to find something else to do with your money.
You need to inject good money management into your trading, not good "energy"
The trader with the "biggest heart" doesn't win
The trader that "wants it the most" doesn't win
It's the trader that understands their risk management and applies it. It's the trader that trades with a plan, win lose or draw. The market rewards discipline. those are the traders that survive. The rest is nonsense.
NFLX just stopped out, and by .02 no less
tiny
Thank you SOHU!
For not triggering first before ramping like this
SOHU entry is canceled the stop hit before the entry
tiny
SOHU entry is canceled the stop hit before the entry
tiny
Nice fade
Fade working well, I didn't take it, and actually got nicked on a short attempt, but kept size small
1304.25 fills the gap basis the S&P futures
tiny
1304.25 fills the gap basis the S&P futures
tiny
9AM update
Bid breakeven for NFLX. Take a scratch if it trades there
Same thing for ACOR
SOHU the standard rules apply. If we open below the entry or trade to the stop before the entry, cancel the trade
tiny
Same thing for ACOR
SOHU the standard rules apply. If we open below the entry or trade to the stop before the entry, cancel the trade
tiny
And there she goes!
No regrets on not going with my "feel". That way has gotten me in way more trouble that this trade would have made me, even if I maxed out the account. It's also carried more people out of this business than many would admit.
Now, we see if we get the retest of the lows from April 18th, which come in at 1290.25
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Now, we see if we get the retest of the lows from April 18th, which come in at 1290.25
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Just a thought
It feels like we want to spike down off the number, but there's no trigger, and there's no glory in gambling here ahead of the number, so Im waitng out the move.
I don't trade on feel, or gut, or a dream I had. I trade on a trigger bawsed on a pattern.
tiny
I don't trade on feel, or gut, or a dream I had. I trade on a trigger bawsed on a pattern.
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8:25 Update
AUDCAD triggered and is right around breakeven. change management. If it goes 25 ticks from entry, move stops to breakeven. Keep the same first target of +100 and 2nd target of +200
EURUSD did not trigger yet, but the trigger is still valid
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EURUSD did not trigger yet, but the trigger is still valid
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Thursday, June 2, 2011
Yesterday's high TRIN reading
Isn't doing much for the market today, and that signal is only an ultra-short term signal, so the clock is ticking on it
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tiny
As expected
Just a choppy morning as we digest the big expansion day from yesterday
let's see if something sets up for later on after a consolidation forms
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let's see if something sets up for later on after a consolidation forms
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Gap
Gap is not big enough to fade straight off, so Ill wait for the first push for an opportunity
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Wednesday, June 1, 2011
I love it!
Super gurus who bashed technical analysis for 10 years are now quoting it!
roflamoooooooooooo
Guess ya can't rely on stealing other people's plays forever, huh?
No shame at all...
tiny
roflamoooooooooooo
Guess ya can't rely on stealing other people's plays forever, huh?
No shame at all...
tiny
1316.75
78.6% Fibonacci retracement of the last swing up on the S&P futures is 1316.75
Short term support. Below that is suggestive of a retest of the May 25th lows
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Short term support. Below that is suggestive of a retest of the May 25th lows
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Good thing I changed my bearish tune
Right before we get crow barred! Well, no harm done but I was a day early looking at the short side
Depending on how we close, this should setup some nice opportunities for triggers over the next few sessions
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Depending on how we close, this should setup some nice opportunities for triggers over the next few sessions
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9AM update for Wednesday, June 1st, 2011
FOREX- Cancel the $EURUSD trade
Stocks- refer top last night's video
Have a great trading day
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Stocks- refer top last night's video
Have a great trading day
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