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I agree....30 min charts have a gap that needs to be filled. Nice trade :)
YHOO Sept 15 Call @ .31
I was wondering the same thing and agree that shorter timeframes give a more reliable view.....especially for front month options.
Just watching so far
Komamdo,
What do you see that is making you bullish on BAC and YHOO?
Thanks - Tictac
Took profits on the Calls @ 3.36 = 10%
Thanks Blasher, I always appreciate your input :)
POT 100 Aug Calls @ 3.05
Still holding underwater puts
Pot Aug 90 puts 2.52
Sold Rimm Puts 1.39 = penny loss
Sold FAZ Calls 2.34 = 28%
Unfortunately, I have no predictive abilities. I can only trade what I see now, and will hold my puts until the 30 min chart changes.
RIMM Aug 50 Puts $1.40
FAZ Aug 15 Calls $1.83
OT - There is no comparison between you and Tiger Woods. I'm sure you are a much better man.
Tictac
Looks like the gaps are being filled on TNA/TZA
Just wondering....SPY has filled the gap on 30 min chart from June 29, but TNA/TZA have not. Maybe the gap on those will be filled before heading down?
I think you mean TZA not TNA
Market up = TNA
Market down = TZA
Trend
What was the summary of what he said?
Tictac
Smartone - I'm glad you made money today.....but I think you are crazy to be trading against the trend, lol!!!
What are you looking at that told you to go long?
Tictac
Gleno,
It looks like the gaps we were talking about the other day on TZA and MDY needed to get filled.
Tictac
Ron,
Do you go to cash when the 10,50,0 PPO crosses the 10MA? If not, what is your exit signal?
Thanks,
Tictac
Nice chart Ron, thanks.
Tictac
Show Me Your Glory
Gleno - on the 30 min chart there is a gap around 133-132 on MDY and around 8 on TZA. I think we are all seeing the same thing on the charts we routinely look at. Maybe a pop in the morning with the release of iphone and then a fizzle?
My charts said buy 1/2 position TZA June 21 and another 1/2 June 22 with a go to cash on 1/2 today.....if that makes any sense,lol.
I've been looking at the Android Incredible, but haven't made the purchase yet.
Thanks Jake
Okay Blasher, LOL I voted for you!
Jake -
If these are your charts
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID2902658&cmd=show[s194514919]&disp=O
will you update the last chart on page 3 please? It is stuck on March 15.
Thanks
OT Blasher,
Congratulations on the new blessing that is coming your way. I pray that she will love the Lord and serve Him all the days of her life.
Tictac
Jake and Ron
Well we can scratch the zigzag theory on the 60 min chart, lol.
But here's another with the slope tweaked over the CCI. One could just trade the slope crossing the signal line. But it might be better to trade 1/2 position at signal cross and wait for the slope to cross the upper or lower horizontal line on the CCI - like what is happening today to initiate the other 1/2 position. (And happened the first part of Feb)
Here is the $NAA50R with parameters. I was trying to duplicate Greg Palmer's Calliope Renko chart at the bottom of the first page on stockcharts. I failed as a thief (Foot, as the master of chart thievery I know you are disappointed in me) but may have concocted something of value. If anyone improves upon these charts, please reciprocate with me.
ET - very interesting. Thanks for the updates.
Tictac
I took what he said to mean that there would be a type of double top in May and August that mirrors the double bottom on the $NYAD chart. He hinted that it would be safe to just take profits in May and wait for the end of August to short the market for the decline into Dec.
He didn't really give any clues about how high the market will be from now until May....besides having a pull back next week. But I don't think we will chop around here until May. Because if we did, it would look like a sideways pattern on a chart from here to August. We would have to advance to 1250-1300(?) by May, pull back in the summer, and back up to 1250-1300 in Aug for it to look like a double top.
While I understand that people now have long term gains from last March's bottom and it would make sense to take profits, if April earnings are good and the market melts up, they will wait until May to take profits. This would make sense with the top he is calling for in May. I think RIMM may be a good leader to watch, as it is beginning to fill it's overhead gap and has earnings March 31. If it fills the gap and then has great earnings, it will break LT resistance @ 85/86 and I can see it near 100 by May.
What are your thoughts?
denmo - Yes I have been watching Terry's T Theory. I'm mystified by it and intrigued to see where the market will be in August. That may be the time to buy some Leap Puts.
You might be interested in this. (or infuriated)
I have been using a typing program in our computer lab over the last few years that helps young kids learn the basics about how to type on a keyboard. One game in the program gives facts about historic figures or places. Every year I get the question, "What does 120 B.C. or 79 A.D. mean?" Of course I explain how the calendar works and everything in history is measured by Before Christ or After(His)Death.
Well just a few weeks ago, I got the question, "What does 120 B.C.E. and 79 C.E. mean?" I thought the student was reading the screen wrong. But sure enough that is what it said. I told the student I wasn't sure, but that I would find out. I talked to our librarian about it and she didn't have a clue either. So we looked it up on the internet and found out that it has been changed to be sensitive to non-Christians. Here is a link:
http://en.wikipedia.org/wiki/Common_Era
I am assuming that it has already been changed in new textbooks. That is a pretty slick way to erase Christ's name from HIStory.
Blasher,
I certainly did not explain myself very well. Sorry about that. I am not a socialist by any means and I don't think we should all be making the same amount of money. I don't begrudge anyone that has earned his/her money legally. I like to see businesses and individuals making good profits because it is what allows our economy to grow.
But I do believe corruption on Wallstreet/Banks are at the core of our economic problems. We reward the corruption by bailing them out with tax payer dollars and allow them to pay bonuses with profits made with tax payer dollars. All the while, the ripples of the tsunami Wallstreet/Banks created continue to cause destruction in society. The moral of the story is crime pays and law abiders are punished. This is the root of my bitterness.
The good thing about that is that teachers will finally have to care about doing a good job.
Well in my little microcosm, it is having the opposite affect. Today our district came out with a proposal to to cut our salary 11.5% plus 5 mandatory furlough days and increase class size. The thought of working harder with more kids for a lot less money is not appealing. I have mentioned some of the struggles I face everyday in the class and this seems so unfair. Especially when I see the bonuses being paid on Wallstreet.
I agree that education needs an overhaul and every part between elementary, high school and college has its problems. In my state, I think stopping free education and medical for illegals would be a better start.
Pink Slips
The largest school district in my city (central Calif) just announced they are laying off 120 teachers. Many districts will announce their lay offs in the next month....as I'm sure most schools in California are up against a contractual deadline in March. My district alone is 4.6 million short in funding for next year. Mulitply that by hundreds of districts. Yikes!
I don't see how this will not effect housing/economy by the Fall. I think another row of dominoes is about to go down.
I'm right there with you northam.
My car tags and car insurance are both due today. My car tags went up $40 (they've gone a few dollars down every year) and my insurance jacked my premium up $40 even though I have no accidents or tickets. When I called them about this they gave me some mumbo jumbo about how my mileage to work had gone up. I told them I've driven to the same area for work the last 13 years, nothing has changed. They weren't going to budge, so I told them they were only giving me incentive to look elsewhere for coverage. So they dropped the price $30, but that's still $10 more than I paid six months ago. Ridiculous!