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Gleno,
That should work. ($USD)
Foot,
That up/down/up or down/up/down stuff is definitely for the nimble. That went way to fast to put in a trade. I guess the only way to do that is to put limit orders on both sides of fence which ever hits, cancel the other.
SPX breaking out to new highs, NDX is about test old highs.
Damn... Couldn't get my buy order in at 99.75 for QLD. I guess I'll sit on the sidelines. Up Big not going to chase. Since it's up/down/up for the pattern we should have a down day tomorrow.
Foot,
Did you look at the spike down to 12.73 on the VXO?
Foreshadowing for things to come?
Yeah I didn't have the balls either to hold my QID position yesterday ahead of the FOMC meeting. I'll trade the pattern during the fed announcement but then I'll stay away til next week to see which way they take this market. I think by next Mon/Tues will tell the tale.
I'm a little supicious too of the rally before hand. Plus with it being OE there's a lot of variables. This rally has been built on the anticipation of a 1/2 point rate cut. I think selling the news would probably be more likely. At the same time, since it's OE at the end of the week I wouldn't be surprised if we end up flat/consolidate like we've been doing for the past week so that they can take it coast to coast on both sides and burn both long/short. The real trend will probably show itself next Monday/Tuesday.
Foot,
I'm staying put until about 2:15 during the announcement to try to play the infamous up/down/up or down/up/down pattern. I have a feeling it's going to be sell the news since they are rallying them now. We'll see though but I'm thinking down/up/down.
Looks like they are rallying them ahead of the Fed meeting today.
I think they will probably take them close to 1496 SPX and 2000 NDX. (Tough resistance there.) The 15min macd just turned up for the SPX and NDX.
Foot... that was a good call. Thanks for swaying me to the dark short side near term. Ended up getting out way too early though. I couldn't watch the market today since I've been busy at my new job so I got out of my QID this morning for +.35. Could've been a lot more but better to be safe than sorry. (I can't trade blind like you with limit orders. I have to be in front of my PC looking at the charts.)
I'll definitely try to get into some of that up/down/up or down/up/down action tomorrow.
Daily charts for SPX and NDX still look neutral/slightly bullish since it's above the 20/50/200. But short term 15min/60min everythings turned down.
Foot, thanks for the heads up. That's a big number of puts/calls. Just got back in town from a short weekend trip. I guess I'll look at the other P/C ratios: DJX/NDX/SPX to see where they stand.
Hopefully I don't get punished on Monday. Holding QIDs through the weekend. Down .10 from purchase price.
15 min chart shows macd crossing down. But barely.
OT: Damn that's utterly amazing. I just got back into golfing from not playing for 5 years. I can't putt worth a darn. I get on the green in 3-4 shots and then always end up 3-4 putting.
Looks like the 1 min and 15 min charts are rolling over to the downside. The daily chart trend is still up however. Buying some QIDs and then coming back to watch in a hour or so.
Man, this is painful to watch. There's no action. Anyhow, I guess I'll come back around 2 - 2:30 PM.
NDX trend still up
Trix turning.
Getting close to a near term top on the Trin. May be when we reach or come close to the recent highs we'll reverse.
Yeah... I agree we're pretty much in neutral territory right now. A break of recent highs, spx 1496 and ndx 2031 will mean a new yearly high. I'm trying to tune out all the FA stuff. If I listened to all the doom and gloom with the Financial crisis I wouldn't have pulled the trigger and gone long on the reversal during August 16.
I'm still thinking they will try for 1496 and 2031 before the FOMC announcement.
Foot, I'm still under the impression that they will at least try to challenge the past highs on the 60min. Yesterday I stated that if there is a break of 2000 on the NDX they will probably try for 2032. I did a quick scalp with some QIDs yesterday but got out with a .35 gain. LOL.
Same with SPX, challenging the 1496 number. A break of those and we're going to generate/print a new yearly high. Right now it looks like a slim jim on the NDX. Scam use to say a slim jim typically breaks towards the direction of the trend.
Remember NDX always leads b/c it's the most risky. When big investors want to get out they get out of the most risky things which signifies a top. But when they want to get in they tend to buy NDX/tech on the bottoms.
I'm not saying we'll print yearly highs yet. We'll have to wait and see with what happens at NDX 2032 and SPX 1496 which is just in time for the FOMC on 9/18, and Quadruple witching with OE. Makes things a bit spicy. Been day trading mainly and still holding onto some long positions on the 401K since August 16/17th.
Denmo, if we can take out 2032 the $NDX will be on it's way to new highs. 2000 is near term resistance. BBs are starting to expand and trix turning back positive.
Just got out of QLD for +$1.25.
Actually 1990ish may be the top for now. Just looked at the 60min and it's hit the top of the BB.
Yeah I listened to you and my gut, and decided to buy the dip during Bernake's speech. I really thought at that time there was a good possibility to fill the gap plus the bounce off support. Now looking at exiting QLD soon. We may get close to 2000 on the NDX or just shy of it.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=22768531
Bounce off support and possible fill the gap? Bought some QLDs during Bernake's speech. Rez at 2000 so we'll see.
LOL... I don't have any kids yet. But if I do, they better be smart because by the time they go to college in 20-25 years it'd be about 100K/year.
Out for a buck. I think that's all I can do for today.
I got in on the QLD at 94.85. I think there will be a bit of a retrace up. We'll see how far it goes.
Be here is the realtime namo.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=22373099
Heh... It is a slow moving day. I'm shutting down the laptop and heading out. Need to wash all the bugs off my car from my road trip out from MD to Seattle WA.
Damn... Can't sit around and watch this play out. Out off SSO at +.70. My wife is nagging me to go out and look for housing now that we've finally made it to Seattle.
Not sure if it'll close the gap today. We'll see with the Positive MACD and whether it'll go back to the pink line.
$SPX Backscratch?
Denmo, it looks like we are definitely getting that triple cross. Probably up until the FOMC meeting on 9/18.
Inverse H+S target looks to be 2100. QQQQ target about 51.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=22304916
Yeah, I'm not sure where I got it. I found it it a year or two ago. But I came across it again when I was cleaning up a ton of files on my laptop. Anyhow I think I need to print that out and stick it onto my laptop.
Foot, I just found out the main lodge has Wireless broadband for free. Geez...
Anyhow that seems really hard to trade on the phone without being able to physically see support/rez on the chart. I don't know if I could do that.
Anyhow, do you like the formation of that right shoulder (inverse H+S) on the 60 min $NDX charts? Should be interesting to see if we get repelled again on the daily 50dma, right back at the same resistance on Friday.
Foot, just checked my trade from this morning. Put an order in to buy QLD and it took 2 mins for me to place the order. LOL. I'm out for the day. Just hit my 92.50 target for +$1.25. My wife thinks I'm crazy looking at charts all morning and the fact that it takes 1-2 mins per chart to load. Going to hike in the appalacians with my wife, then back on the road early tomorrow morning. I got to find a place with at least wireless or something.
Foot, closed the $NDX gap. The question is do we reverse and form that inverse H+S. This is a crappy time for me to travel. I wish I was in on the volatility. Checking in right now from a dialup horrible line in WV. It takes a min to open up 1 chart. LoL...
Foot, closed the $NDX gap. The question is do we reverse and form that inverse H+S. This is a crappy time for me to travel. I wish I was in on the volatility. Checking in right now from a dialup horrible line in WV. It takes a min to open up 1 chart. LoL...
LOL... .50 here, .50 there. I was just going for a quick scalp before I leave tomorrow morning so that I can pay for gas, hotels, and lunch on my road trip out to seattle.
Have you seen FXI recently? I haven't been paying any attention to it for about a week. What's funny is my sister doesn't do any type of TA investment. She's just plain lucky. She bought a bunch of Chinese Mutual funds a couple years ago because she went to Beijing Univ. as an exchange student for 6 months in 2004. She saw all the development and progress so she decided to buy a bunch of chinese funds. Anyhow she told me that she plans to hold it til right before the 2008 Beijing games. Look at 8/16, the recent bottom and today's price action, it's put in $32 in about a week!!
Good thing I closed out my QID position. Yikes... Double bottom, positve MACD N/C around 12:10 PM. Back up on the 1 min charts. You're probably right light volume will be consolidation with may be a slight upward bias.
I took a QID position right before 10 AM. Put a limit sell order, went to lunch. Just checked it. It closed for a +.50 gain. LOL... I'm out for the rest of today.