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Cute, but don't cut the rope please LOL
2bit
Did you buy the gap? I did..
2bit
Divergence starts, just like April, but even more interesting velocity back in April slowed down but not it speeds up, just no fear, all bears .. jump ship
2bit
Today is like March 18, the AD issues either start diverging from the index, wether the index follows suite and falls with them...?
will see
2bit
Thanks.
This is what I see.
(1) First target..OEX 520(SPX 1140) by Aug 19 (fib day 34)
(2) Second target .. OEX 530 (SPX 1166) by ?? (fib day 55 will be Sept 10)if you are assumming same 55 days advance like last time
But it should be clear that it is still buy on dips time...for the next little while.
(caveat emptor ...the near term is still ugly..the scenario above is based on trendline not being broken)
2bit
Well well what do I know, just can't leave this market for an hour, just back from the gym and look at what happened, Gleno must have bought some puts. If I didn't cover my shorts this morning, I would have lost money..just crazy market...day trade only....now what, TSS signals realised...more rampo?
2bit
The govt jobs were lost because of end of census and the private job creation is mediocre. US needs to create 150k jobs each month not a loss of 130k each month. This is sad, the stimulus package isn't working. Right now OEX has broken S2, there will be more selling...the first line of up trend has been broken and will see how it closes.
2bit
Shorted this morning when it first bounced...a whopping 35% gain and closed out...thank you TurtleSoup, you are really tasty....I am done for the day and will be back Monday in shorts of course..
2bit
If it were not for the unemployment no. tomorrow, I would have shorted at the close...
2bit
You know I am just like you today..no trades...plan to go to the gym later...why front run...let the market tell me tomorrow and I will follow...though I am leaning on the down side for those TSS signals have to be addressed soon...
2bit
Gleno,
What did I tell you, the walking claimants from last week arrived at the office...
2bit
YRT1,
Monday's reversal was not typical. The price level was sitting at an invisible level of Bull/Bear equilibrium (listern to this weekend's TTheory comment). Using Expertrader's quote "the trend is your friend except at the ends"..But the ends are difficult to locate and are more important.
You know you should try like NM, if you have a 200 DOW points rise against you, get the hell out. If you are insisting on staying, play also the other direction. This way you will make money on at least one side to boost your morale and you may even get even. Average down on the loosing side is brutal, and look at what it does to your morale. Unfortunately, most people hold onto their loosing trades for too long and get out at the first instance the market goes their direction and loose the opportunity to ride profits in their direction too.
2bit
Well, believe it or not the price velocity is picking up again..adding insult to injury for the bears...
2bit
YRT1,
You can get as angry as you want, it ain't time to short yet...sorry...quand il pleut il coule
2bit
Good observation, TSS signals were spotted two days ago, based on their trading rules it has to be at least 4 days passed, therefore Friday should be all set for a sell off...Besides Aug6 is some sort of Gann no, and Bradley turn date is Aug 10...
2bit
Based on their "Kindle" of fires...LOL
2bit
Right, Denmo,
TSS signals are very reliable but seldom a trend reversal singal, I see 2 steps forward and 1 step backward from here on....
2bit
Blasher,
The only problem is, we may be in #27 rather #14 and we will be in deep shits soon...I don't really trust his interpretation...
2bit
TSS signals on SPX, OEX, NDX, DJI...within 2 days a sell off...
off to the gym...
2bit
Comments anybody on Lindsay's 3 peaks and a doomed house?
2bit
http://carlfutia.blogspot.com/
Gleno,
Don't be so sure. From here on it is negative divergence on the OEX. The index is rising on thin air like last April. I will only day trade from here on...
2bit
are you kidding, I was going to say today is one of those nonsense day, I was in and out for 1 OEX contract (keep it small for uncertainty) and made 50 bucks net of commission. what a waste of my time. Everyone is scared of ADP report tomorrow..if anything else it is the oily OEX that might have made it stronger but oil is not that strong today either....
2bit
ya, this f'c.ing market is not easy to play...sigh...you have to be like NM..today is dumping too much for me to consider long...just watching now...
2bit
Gleno, I never subscribe to anything except my own...
2bit
Thanks, Blasher
Ya, interesting, may be IH does not like Postman jokes or jokes period. For sure they are eying this board.
2bit
YRT1,
Last Friday, I was uncertain as to what direction the market would take and I tried something I seldom try before. Like NM, I played both sides. 1 OEX 495 put contract and 1 OEX 500 call contract. Monday gapped up and I sold the put immediately. To cut the story short, I lost 200 on the Put and gained 500 on the Call. I am now all in cash and waiting for the pullback to go long again. But I was lucky because it gapped on Monday if it were a mediocre day I would have lost money both ways. I never put stops on option plays because of the volatility. Rather, as soon as you realise you are in the wrong direction get out and reverse. Think of it this way, average down on the wrong trend will keep you loosing, reversing right away will recover your loss or more. OR if in doubt stay out.
good luck
2bit
or if Obama's parents were illegal immigrants?
2bit
It stopped there but does not mean rejected...
2bit
If you are buying puts you are heading in the wrong way...
good luck
2bit
WELL, yrt1 LOOKS LIKE YOUR WEDGE WILL BE INVALIDATED...
2BIT
Obama Maths..
"The White house said that the bailout of GM and Chrysler created 55 thousand jobs. The cost was 86 Billion. Wow, each job costs $86b/55k or $1.56 million."
2bit
Folks,
Thanks a million. I think I come to a clear conclusion based on all your contributions. Look at the chart below.
(1) Yes YRT1, it is a rising wedge and EMA50 being below EMA200 is a show of the lower energy level.
(2) Yes Denmo, correct,the original channel is not a valid channel and I have redrawn it.
(3) Yes Snoot, the wave C is complete, and I consider the whole up swing from July 6 as one momentum swing and anticipate a .382 retrace which falls into the lower channel and touch OEX 490 (SPX 1080)
(4) SD, the VIX is actually coming up, a temporary hook down and continues up and %William is heading down
(5) My other short term indicators point down and no buy yet and arriving at 1080 is an AB=CD formation.
Thank you and have a good night
2bit
Folks,
Thanks.
The result of the survey is
(1) SD/DEN/Snoot voted up
(2) Blash/Harley voted down
(3) YRT1 undecided
so it is pretty much 50/50 although the bias is on the up side.
YRT1, your range is too big like 400 DOW points and what do you do in between?
SD, your future chart clearly shows up from the trend line but will it continue? The "Evil" stuff is really evil, you always have 2 scenarios..."if only we have one-handed traders" if you know what I mean..
Harley, I think you voted D for down?
Denmo, can you elaborate and say a few more words?
Blasher, I hesitated whether I should show the arrows. They are not there to mislead. They are simply there to show local maxima as the second derivatives are turning, but as in the case of C, the 2nd derivative continued to decline as price increased causing negative divergence that eventually led to the huge drop starting April. The more negative divergence the bigger the following drop. Now all the other drops were quick and dirty and the market recovered. What I see here is a pending drop from the upward sloping bearish channel but the market can continue like in C and rise with negative divergence.
2bit
Thanks snoot,
Just that my other short term indicators are pointing to more down first and possibility of revisiting 1080 before anything and that means falling out of the channel it is currently in. Right now it is at a local maximum, however nothing will prevent it to go up with negative divergence like C for a month....that is why I post the question to the board.
2bit
I think you have mistaken me for Gleno..LOL see my note to Harley
2bit
Harley,
Not so fast, I liquidated Calls, but the market is still resilent, a local maximum but may be grinding through divergence before it falls really hard...next week will tell...it is never easy...
have a good weekend
2bit
Folks,
OEX 498.72 is broken, bears you win for now. I will have to liquidate and join you guys...and thanks for your thoughts Blasher I have to consolidate posts before I run out again.
2bit