13'sBoard

[Agent13]

Feeling high? The market rush is on. Just one problem, or two, or 3 ...
Big money is still leaving the market from my information, and the market is still overpriced. Sure the market took a dip, but corporate earnings are dipping still. Nice bounce, but I suspect resistance ahead. The daily volume did not support a further surge. JMO ;) also notice the gap. Think it won't fill?

[Agent13]

Relative strength is a great way to find the next big movers. Relative weakness as well. This is a great chart template for checking relative strength across industry, sector, and market.

[Agent13]

http://finance.yahoo.com/news/greeces-tsipras-calls-referendum-break-003628954.html

[Agent13]

Bullish???

looks like everyone is...so I'm looking for a top. And I'm going to put my money where my mouth is. Of course I won't touch the hot stove too many times, but I am going to test the waters here at what I see as a possible highest tide.


Looking to take a short position as close to the previous high as possible and set a stop loss just above it.
PS 2055 is still a possible upside target - I'm looking for resistance to place short order - wherever that may be. ;)

[Agent13]

maybe 1 stronger index - long view

[Agent13]

Strongest Index looking ready for a switch IMO ;)

[Agent13]

Oil with bad news and still moves up big today. Oil production highest since 1988 in USA, OPEC keeps production high, and prices up big. What's happening there? Nat Gas bouncing off a bottom quickly as well.

[Agent13]

Weariness wearing off. Showing bullish engulfing candles now and a bullish MACD cross. (Link back for chart)

[Agent13]

x on the negative outlook for now. $SPX broke string of lower highs today. Maybe a shot to top of trend line. IDK

[Agent13]

End of May Heading into Summer...

Looks to me like rotation into defensive investments like bonds and utilities is happening. Also there's "fire on the mountain". Bull may have been trapped. ;) Any questions just ask -

https://search.yahoo.com/yhs/search?p=fire+on+the+mountain+youtube&ei=UTF-8&hspart=mozilla&hsimp=yhs-001

[Agent13]

Wedge happening. Read somewhere they called it trading into a funnel. IMO either market is breaking out , or big pull back coming. Idk, of course could keep steady rise, but market charts show a bull trap. Maybe the bull gets loose. Know what happens then. Maybe the bull doesn't. Hope you're doing well bro.

[Agent13]

That was a great call LB. still holding the support.

[Agent13]

Energy is pulling back while oil is at a new high. Do they know something? What's in store for oil? ;) $ovx creeping up as well.

[Agent13]

Hey hey. That's working out. That sound is me patting myself on the back. Link back for chart. ;)

[Agent13]

Not wearied about it huh? Lol

[L-Back]

I grabbed a little of this today and I wasn't too weary

[Agent13]

Look out! (link back) one of many bearish engulfing/ outside reversals.

[Agent13]

$WTIC

[Agent13]

Doing well LB, thanks. Tried to day trade some kately and ate up my account. Got to get back to swing trades. Much better for me. Live and learn. I think day trading just amplifies human tendencies which we know will kill your account. Trying to be better and smarter.

[L-Back]

Great call bud... hope you doing well!!

[Agent13]

A technician would be weary of this ...

Divergence and Bearish Engulfing(also called outside reversal)- The fact that this is the Transports gives larger implications as well.

[Agent13]

Any bounce in the fib retrace area here is a buy IMO. No bounce, then patiently wait. (link back for chart).

[Agent13]

Welcome to 13's Board
First a word to the wise

"If you can't spot the mark at the table, then it's you." Poker Quote

When trading and investing, never take another persons word for where to place your money. If you are learning to trade and invest there are many reputable books and websites in which to find reliable information. I would gather as much information from them before risking your hard earned money. Most of all stay away from the herd mentality. Greed and Fear can lead people to do dumb things. Also Information from undocumented sources is ridiculous to rely upon. Funny how so many here switched from pumping pennies to all of a sudden pitching options. I don't know which prices dive faster. If you are serious about trading, then find a way to increase your odds of winning. It's hard enough to make money trading. You don't need more odds stacked against you. Question everything. Have you seen the movie Boiler Room? Could shed some light on anonymous trade tips. The phone calls are down , but the online post are up, up ,up. Good luck trading everyone. And good luck to all posting here, whatever your agenda may be.

http://en.wikipedia.org/wiki/Shill

[Agent13]

There's Stocks, Bonds, Agriculture, Metals, and Currencies that trade independent of each other. Keeping an eye open for which one is Showing Strength, Weakness, Reversing or Continuing is our job. Don't get tunnel vision and forget about other opportunities that could arise.

[Agent13]

Good Deal Az! Best of luck. If you want to run any ideas or thoughts by me, feel free.

[AzInvestor]

Hey 13, I got my book the other day. Looks to be just what I might need.


Thanks!

[Agent13]

Dilbert's Lessons in Investing
http://l.yimg.com/bt/api/res/1.2/_0gxp2bShu.rQBc31GHJhg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTE4NztweW9mZj0wO3E9NzU7dz02MDA-/http://media.zenfs.com/en_us/News/ucomics.com/dt150223.gif

also

http://l1.yimg.com/bt/api/res/1.2/QpiuWl1HeAdkCx95DLvx8w--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTE4NztweW9mZj0wO3E9NzU7dz02MDA-/http://media.zenfs.com/en_us/News/ucomics.com/dt150221.gif

[AzInvestor]

He has like a 4 part seminar taped for youtube. It's a weekend seminar so part one alone is like 7 hours long. Very interesting though.

[Agent13]

I have in a small way. I have a long way to go, but I know what I need to do. The really great thing about the lessons learned, imo is these ideas work across the board in life. It's not just a trade tip or trade setup , entry signal. I'm just about to finish the book. Never thought to check you tube. Thanks.

[AzInvestor]

I looked up Mark Douglas on youtube. I started watching one of his seminars and next thing I know its been an hour watching it already. It seems to be exactly what I need.

I already ordered his book earlier.


Would you say that you have gotten past the doubting that you can be a successful trader?

[Agent13]

Believe me. I've been there. I hope it helps you.

[AzInvestor]

Hey 13, thanks for the advice on the book. Sorry if I was being a downer yesterday. I was having a mini meltdown. haha I was really questioning if I was ever going to be able to be a successful trader.

I will probably be ordering that book later today.

Thanks again!

[Agent13]

Observation:


Volume is drying up in this recent uptrend. ;)

[Agent13]

Top Down Approach:

I use this chart as the Top of the Top down approach. This is a leader IMO!!! Notice the third attempt to make new highs. Important juncture IMO as well.

[Agent13]

Just sharing a thought. I have given up lots of small gains and had some small losses using stops. Stop placement is a science in itself. I have saved my ass only a few times with stops. IMO 1 save from a big loss is worth 100 small losses. USE STOPS. The only time I can see not using one would be when the investment is less than 2% or so of your total account. IMO it is irresponsible to teach new traders not to use stop losses. Odds are you're going to pick a big loser sooner or later and it's going to REALLY hurt. Could set you back years!!! If stop losses are getting hit to much, look at getting better entries or different stop placement. Be responsible. Protect your capital.

[Agent13]

Renko Chart Volume Analysis


Here's something I've noticed in my studies lately that I thought I'd pass along to anyone interested. It is referring to renko charts. Should work with any Average True Range or Volume based system.
1st as we know for every seller there's a buyer and visa versa.
Support and resistance work because the buyers or sellers step in at a price point to absorb the volume. This is described as the battle between the bulls and the bears. Experienced traders and technicians use volume as part of there anaylsis. It is very important, as it can be gauged as the strength or weakness of the trend. Here's how a renko chart has simplified things for me. Renko bricks post only after Average True Range of the time period is violated. Placing a volume indicator beneath the Renko chart can indicate very clearly where the resistance and support are setting up. I'm liking the 15 and 10 min version on some in my watch list, but I'm sure each situation is different. When the volume bar starts to get relatively high and the renko brick does not progress - Boom - you've got support or resistance. You'll see reversals many times here. No holy grail , but helping me through intra day charts, as Renko cleans up the noise. I'm sure these ideas will translate to longer term charts as well. Here's a random example. Try it out for your self. GLTA




http://stockcharts.com/school/doku.php?st=renko&id=chart_school:chart_analysis:renko

[Agent13]

End of the day sell off

Been watching this chart for a while . Two major points IMO.
Not Bullish

[Agent13]

Warnings look to be blown out. Market moving higher

[Agent13]

Pring's Special K
http://stockcharts.com/school/doku.php?st=special+k&id=chart_school:technical_indicators:pring_s_special_k
I like this indicator. Here's how I am using it.
1st Add a 10ema. Now you have 3 time frames covered in one indicator. The 0 line on right of the indicator is the longest trend. Above 0 is bullish, below bearish. The red special K line is medium term trend. Below Bearish , above bullish. You'll see lots of resistance and support happening at both of these points. The 10ema is shortest term trend. Again looking for crossovers and rejections for signals. By seeing three time frames in one simple indicator is helpful. You can filter out less probable winners and trade with the trend!! It is usable in all time frames. I like the 60 min.
In this example today I would interpret the special K as stating-
long term trend above 0 bullish: mid term beneath red line bearish: and short term above 10ema bullish. Find your time frame and try it out.

[Agent13]

Warning signs IMO.





Do you think money may be going to Europe? QE AKA Easy Monay

[Agent13]

Simple Monthly Energy, Precious Metals,Base Metals, and Agriculture.
Just another perspective.

[Agent13]

Shopping list...

Corn , oil , maybe cook it on some nat gas IDK ..
Here's some crazy charts on Corn - I'm Stalking right now ;)

[Agent13]

I'm gonna have to get up at 4 to trade gold. Thankful for stops.

[Agent13]

From the book Elliot Wave Principle - Key to market Behavior
p87-88 Practical Application
"Without Elliot, There appear to be an infinite number of possibilities for market action. What the Wave Principle provides is a means to first limiting the possibilities and then ordering the relative probabilities of possible future market paths."
"Under only the rarest of circumstances do you ever know exactly what the market is going to do. You must understand and accept that even an approach that can identify high odds for a fairly specific event must be wrong some of the time."
"Most other approaches to market analysis, whether fundamental, technical or cyclical, have no good way of forcing a reversal of opinion or position if you are wrong. The wave principle in contrast, provides a built-in objective method for placing a stop. Since wave analysis is based upon patterns, a pattern identified as having been completed is either over or isn't. If the market changes direction, the analyst has caught the turn. If the market moves beyond what the apparently completed pattern allows, the conclusion is wrong, and any funds at risk can be reclaimed immediately."

This is a great book that touches on much more than just specific rules to follow. IMO it provides a greater understanding, or larger picture, of what the market is doing and why.

[Agent13]

Key endorsement for ECB as it prepares for more stimulus

http://www.marketwatch.com/story/ecb-gets-interim-green-light-for-omt-bond-buying-from-european-court-2015-01-14?link=MW_home_latest_news

[Agent13]

Oh yeah. I plan to work 6am to 12 noon trading gold , one day. Then I can fish and play with the kids. I programmed London, Tokyo, Hong Kong, and Sidney times into my phone after that convo. After seeing the volume spikes everyday, there was no way to overlook it. THANKS.

[**D*A**]

ROFL! I'm surprised you remembered that. Nice job on your short!

[Agent13]

Quarter till five in London.


Thanks DA for the insight into gold and the London markets timing.

[Agent13]

Ok in here as well. (lump in my throat)

[Agent13]

Ok I'm in. ( link back )