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Semiconductor inventory "alarming" ?
http://www.sdcexec.com/web/online/SourcingProcurement-Trends/Semiconductor-Inventories-Swell-to-Alarming-Level/13$13273
FSLR - conflicting dates for earnings release. A couple of sites say it is this this afternoon and a couple others say it is next week on the 24th?
Edit: It must be next week. I just noticed briefing.com no longer shows it for this afternoon. When I posted the FSLR chart a couple of days ago they had it shown for this afternoon.
Trevilli,
I'm trying to replicate your chart to play with it and am wondering if you have the "log" chart setting checked.
removed comment. It was virtually identical to rimshot's post.
Welcome Malcomb.
ill = will
So with the resulting run up in /CL oil futures because of the unknown. What is that going to do to the broader market for the rest of the day or until there is some idea of what is actually going to happen?
The source is shown as Zerohedge so keep that in mind before trading on this.
http://www.businessinsider.com/report-iranian-warships-in-the-suez-canal-oil-spikes-2011-2
Edit: I'm seeing a few re-tweets and the source appears to be @nourhammoury who could be a reliable source. He says they are on their way to Syria. Oil futures spike looks like a result of this news.
Free digital copy of Elliott Wave Principle.
http://blog.afraidtotrade.com/get-your-free-digital-copy-of-the-elliott-wave-principle/
If we don't break under 1334 on /ES pretty quick here I'm thinking we're going to 1337 next.
Edit: It broke below just as I hit the send button. We'll see where we go now...
Yep, I see it. The /ES 1336 high is also +9.75 handles.
POT 60m
Look where POT is right now (in the reply to post here). It was near the top of the fork yesterday when I posted it. WOW!
I moved it to 1281.07 and didn't see much difference. I've moved it again and added a third fork. My gut tells me the new fork will be the one that works but what do I know, I've thought we should have seen a bigger pullback for months...
I am learning not to project too far into the future and trade what I see in the moment.
EDIT: JUST TO POINT OUT... THE ORIGINAL BLUE FORK IS STILL WORKING AND THESE OTHER TWO NEW FORKS MAY NOT BE RELEVANT AT ALL.
FSLR - should have mentioned that earnings are to be released on Thursday afternoon, February 17th.
Smurf, with the lower highs since November... you might want to draw a down fork from the upper left corner to be prepared if it drops through the current fork. I've been keeping 2 and sometimes 3 different forks on my charts until the price determines which ones are relevant, then I remove those that aren't working.
The bottom of the current fork has obviously held so far and it could bounce from the bottom of this fork again but it doesn't hurt to be prepared.
Silver Futures. I just saw this chart posted on a blog I peruse occasionally.
http://screencast.com/t/IWFmbeuix24
What do you think? Is the USD going to pull back here and send /ES to 1325?
http://screencast.com/t/KL7NSbQdLlG
Good afternoon BT. It's good to have you back. I've attached another fork that seems to be working on the SPX 1 minute...
http://screencast.com/t/Vfk7nMuDu
Edit: If this chart looks familiar, a lot of the data is "borrowed" from rimshot's chart.
I've lost power a couple of times this morning and just found out that the state (Texas) has instructed the electricity providers to implement rolling blackouts (at least in the residential areas, I don't know about the major metropolitan areas) to conserve energy. Apparently we are going to periodically experience loss of electricity service for 10-45 minutes. This is being done because of the extreme weather. I'm in an area that is only expected to be in the 15-25 degree range for a day or so but not too far north of me folks are in the single digits.
I know some of you are in much colder areas and I hope you all get through this cold weather without too much discomfort.
BT, take care of yourself. We'll be here when you get back.
Take a look at it now and see if the Green fork is what you were asking for. I wasn't sure if you wanted me to keep it as wide as possible of maybe use the 1275.10 point for the bottom of the new green fork.
Thanks, trying to keep it simple...
MSFT earnings apparently leaked early.
http://online.wsj.com/home-page
FCX, PCX, and SLW turned around quick. Yesterday's top gainers on my watch list and so far today the biggest losers on the same list.