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Folks,
Not to be cynical, how does a 17 closing induce a 100 Dow future points down in the morning...LOL
2bit
Denmo,
That is pretty good Algo, I got early signal on April 23 and confirmation on April 28...bear in mind those days were difficult because one day it was up 100 and next was down the same..you have to believe in your system a lot to make a trade...but right now should be easy...all you have to do is to pick the HOD and short it according to MACD CCI etc....until your algo say to go long....
2bit
YRT1,
What do I think? I don't think much of the MCO. I use my own statistical transformation on A/D issues. Today is like Feb 25ish of last year. Bear in mind just the MCO number means absolutely nothing. As a matter of fact if you look at history, MCO will start to rise and the market will keep falling. There is normally a period of divergence before the market actually picks up.(The same is true for falling market, this market should have been fallen on March22, it was a whole month of divergence, the longer the divergence, the stronger the reaction in the opposite direction). I hope it is like last June, a rise to the median value then falls again then restarts the rally. If it is like last March, a lot of people, the unbelievers, will be in pain. The longer they stay in the market hoping that it will bounce the further the market falls. I think Denmo spotted R3 and that is probably right, within 3 days the market will fall hard and retest the low made on Thursday at least. As a side bar, May4 recorded the highest number of declining issues for past 16 months at 3686 and two days later May6 recorded the lowest number of advancing issues for the same period at 178. This is exodus.
2bit
I concur...we will use the HOD Monday to short the puppy again...have a good weekend folks....
2bit
Ha NM, You wish...
this sick puppy will not surpass OEX 520 tops...before it gets severe hormonal diarrhea...LOL
2bit
NM
I don't know if it will be up into the close...but after this morning's shorting...what's keeping my itching finger from shorting again is the 30min MACD which has been my guiding light..it is still pointing upwards....until it isn't...
2bit
NM,
I normally don't do this...I shorted again this morning and out in 15 min to capture the 20%....gee too much stress too fast...
2bit
They must be doing HFT again....
2bit
Whatever happened to program trading curbs???
the SEC has some serious questions to answer.....
2bit
Folks, no flat finger mistakes, remember HFT trading????? from Evil
" UPDATE 3:26pm EDT: Tyler just twittered this:
That was no fat finger, that was one sweeping HFT wave forcing out all stops. Until HFT is not curbed our markets are a joke. Billions lost.
I could not agree more – spot on. Bubble TV talks about a ‘bad trade’ – WTF – what ‘bad trade’ takes out the Dow by 1000 handles? And IF that is the case then the market is broken. Now they’re peddling ‘market drops on Greek worries’ – what they weren’t worried about that in the past few months? While we kept going up and up and up?
Those idiots know nothing – turn that shit off. This is exactly what Tyler and yours truly have been warning about for months now. HFT trading gone amok. Once all the machines turn into sell mode there is no bottom – period.
2bit
Oh Palisades,
"Comments: May 5, 2010
Current position Long: 100% Rydex NDX 2x Fund for Thursday. After the excitement of an early morning plunge the markets recovered then gave back about 1/3 of the range for the day. Our signal continued strong. The effect of Europe's problem on the US, in my opinion, mostly concerns the dollar. It strengthens the dollar, which helps the country at large (US), but hurts the stock market. I for one would like to see the dollar climb, reducing the price of commodities, making home construction cheaper and keeping interest rates down. These things stimulate the local economy. If international sales are lost perhaps the multinationals would pay more attention to US activities."
2bit
YRT1
You got it...at one point OEX put contracts bid/ask spread was 1k
LOL
2bit
Blasher,
Good trade congrats...I tried long for a scrap this morning...but got burnt by the devil...quickly reversed and the last drop...I got even and out.....I have to stick with my signals...discipline..discipline...sigh...I still think there is more down side to come
2bit
It looks a 300+ down day by the time it is over with....IMO
2bit
Gleno,
We really have to ban you from the board...you kill expert's signal last night....LOL
2bit
TSB signals on OEX and NDX...
but it could be just one or two days affair...or not...
2bit
Gleno,
If you kill this one, we'll ban you from the board..LOL
2bit
I think it gets up to OEX 540ish and falls again..
2bit
Expert,
keep us informed...I see CCI curling up ...but possibly the bounce is limited...
2bit
Expert,
Ur no should be increasing now..
2bit
What number would you say to predict a bounce today?
2bit
Sell in May and go away?
There has not been any market thrust since April 28...IMO
2bit
Expert,
Very good, if you have an internal indicator that will get you very far. Most people look at the price to draw all kinds of conclusion and get burnt. Right now it sits on the long term support and may just get a bounce on Monday...almost all Mondays are bullish....amazing..
2bit
Expert
if your signal keeps going up and the market keeps coming down, do you go long or short?
2bit
Agreed, I think it will eventually break to the upside...
2bit
Once it clears OEX 550...it is buy on the dip again....
I know its summer, but shorts are not in fashion
2bit
Bada-Bing Bada-Boom...just out of my longs..stupid OIH with corp action is dragging the market advance...
done for the day...or not
2bit
From the perma bull "Carl"
:So far today the ES has developed a day session range of 1178-89. As I write this the market is trading at 1186, in the upper part of that range. I judge this to be a bullish performance in light of the high volume selling that occurred this morning after Spain's debt was downgraded by S&P. In fact the ES is now trading where it was trading before the news came out.
The financial problems of Greece, Portugal, Spain, and Italy are well known. The market has repeatedly discounted the consequences of this situation but I think it is getting tired of doing so. This sort of bad news has not had much net effect and I think this reveals the underlying strength of the current bull market.
I don't have much of a feel for the price action we shall see the rest of today and tomorrow. (The Fed will make an announcement at 2:15 pm this afternoon.) But I am confident the market is scraping bottom and that a move up to 1270 is imminent.
2bit
YRT1,
I went long by the close yesterday...
2bit
VIX out of BB...you know what to do folks...
2bit
there is a rampo in oil because of no interest rate hike..don't short the market when oil is rampo...
2bit
Any cycle guy around...13 week cycle points to April 29 low, may be today is close enough being April 28 and 1187 SPX held...seems to?
2bit
Denmo,
So are you shorting now or still buy on dips?
2bit
Folks,
This is not a one day wonder. This is the real deal. Similar to Jan19 decline.
2bit
YRT1,
Back in and out and in and out...
2bit
Sentiment has changed...short on rallies...
2bit
A very tasty TurtleSoup Stew...as usual there is gold...
that is all for me today...exhausted shorting the market that is too big to fail...
But will be Back....
2bit
selling on 20 day high - uptrend
buying on 20 day low - downtrend
short term profits
2bit