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No Quarter,
Thank you! A great contribution to my knowledge base.
I know a trader who doesn't even believe TICK is accurate anymore. He only uses TICK/Q and says he gets better results with that.
Have you ever heard anything like that?
Verry funny. There you go talking about the reptilians again. Oh wait, you said Canadians, never mind.
:)
~d
Tripledog, there's a paid subscription service called HFTAlert. I highly recommend it for new traders. He has a system he developed called the delineator system. I took the training in it, which was $500.
I thought their indicators were the bomb when I first signed up in April and I made an incredibly bad call here about 10 days ago using them, so bear in mind they're not always correct. I actually fade them occasionally now= well, not occasionally, quite often - but I always check them frequently during the day.
What they DO teach you is how to trade. How to hold them and how to fold them. The owner, Steve Hammer, was a former market maker and a real pro. There's a chatroom for real time trades, the people are great, and I wish I had known about it when I was new.
I subscribe to them for their least expensive service @199 a month, and their most expensive is $450 and worth every penny.
Trading is very challenging in and of itself, and options trading even harder. If you are new, please don't trade options.
Best of luck to you. There's a big move coming at the end of the summer, I can just feel it and I think it may be down.
Thinkorswim alert! I don't know if this was just an anomaly, but for the first time today in my experience with ToS, a market order I had put in for an option was held for what seemed like about 20 seconds before it was filled. I was actually wondering if I had remembered to actually place the order. The price of the option during that time was raised by .17 cents, my order was filled and then the price was dropped down to where I had wanted to fill it.
Many people are complaining about them, including me. They hold deposits now for five days, for instance and other things too. But I had never in my long trading career had this happen before. Etrade yes, but not Tos.
Does anyone know how it could have happened? These trades go by in a millionth of a second and are implemented by machines, it's not like there's some human on the other side out to get me.
I just can't figure it out, and don't want to point fingers yet.
Out of SPY calls at 310. Looks like we are still going down for Monday and crappy charts win out.~d
(edited) I would love to see a 312 close. It's been rejected three times at the 200 ma on the 1 minute @ 09.43.~d
Oh yes, and filing her nails while she's waiting, but $1461 $TICK? Gimme a break...
$TRIN at 1.23. The late, great, Terry Laundry stated that any rally on a high $TRIN reading was very bullish.
.90 to 1.10 is distribution.
~d
There was a -1461 TICK at approximately 11:30 am today. The stock gurus say that a reading like that is a signal to go in the opposite direction. I differ and find that usually when something like that happens the market has to work off the 'energy' of the extreme $TICK - it's like fuel in the tank for that direction - and go in the direction of the $TICK.
That should be done now and we should be good to rally from here despite my crappy 4, 5 and 8 hour charts.
LOL
~d
Long since 309.~d eom
We're in mini-black swan territory here.~d eom
Nope.~d eom
Could be turning around here.~d eom
Glen is the best, the best kind of person and a great trader too.
~d
Really? Thank you, let me scoot over and check it out.
CMG looks pretty crappy too. Been going long OTM uneven flies for a credit. I learned about uneven flies years a go and love them.
The thing is, with high flying stocks like CMG you can be doing great on your trade, if you're shorting it's at least $40 below your entry price, and then you go make a sandwich...
...when you come back find you've lost $1000 while you were eating.
LOL.
If the SPY does get up to 319 next week, could be the shorting gift of June.
~d
LOL, I'm not a deleter, but I am a skimmer. Thank you, Glen.
Just posted this on another board:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=156395506
...sigh...
That was a great call you made last week. The fractal on my hourly chart dating from 6/16 looks very similar to the one from June 8th. The difference is that the indicators on the previous one were very overbought, and MACD was a lot higher before it turned down.
Could end up being important. We shall see.
(edited) Good Lord, my 2 hour charts look even worse than my hourly ones.
Yikes.
Think I'll buy some calls at the end of the day, lol.
~d
Edit: No wonder puts were looking so perky yesterday. I couldn't figure it out why, when the SPY opened up today.
And what do you think of the current situation on the SPY, on the 1 minute, 5 minute, 15 minute, hourly, 4 hourly and daily charts?
You know, oversold, overbought, etc...
What's your level of knowledge regarding trading? May I ask? PM me if you'd like.
~d
I agree. 306 or so has to hold here.
I am incredibly bullish right now, and I don't know why as my hourly charts and up look seriously terrible.
~d
NN has made some great projections, but some terrible ones, too. I mean really awful.
But he wins ho matter what, because it's his style that wins, not his trades. He's a master at position sizing and choosing strikes. If you want to follow his lead, you want to follow his style, not his trades.
His name is Netneutral for a reason. His trading is delta neutral in the long run and he wins, no matter what, as he is a genius.
It's not as easy as it looks.
~d
In addition, you might want to start writing down every day (not computer, with a pen and piece of paper) the % a stock moves in relation to it's closing price the day before, and intra-day The SPY generally moves 1 to 3% intra-day. You can learn a lot that way.
So we've already had a big move for the day, and plus, it was an x-dividend day and we opened up, not down.
I find standard deviation indicators and ATR charts very useful in this regard.
Once again, best regards.
Robbinhood101,
Never, ever, ask someone on a board what you should do. Never. Because if we're wrong, it's you who lost the money.
What's your evaluation of the current situation?
If it were I, and I hadn't been short at this point, I would wait for a little while and see how the SPY handles right now, this intraday decline. There was good volume just now on the last minute or so, which could be blow off volume.
Or not. We shall see.
I am actually looking to start positioning long for next week at this point and add should we go lower. Not sure yet.
Good luck to you in your trading.
MACD on my 60 minute, which was overbought and pointing down this morning, barely budged on this decline.
Not good for a potential rally.
True, but these huge price bars will get traded out at some point. They alway do.
We will hit 312 again at some point, if not today, most likely next week.
~d
Good morning, everyone. Quiet day and waiting for market to reveal itself. Probably won't happen till Monday. It's the time of year Wall Street takes off on Friday for the Hamptons.
Have one short call on CMG.
~d
So...I think we open flat to down tomorrow morning. After that, who knows.
~d
LOL, yup.~d EoM
There's the Globex price of 307 that needs re-testing and also, the gap from 322.
Either way...
~d
I just bought some puts to fade them and will roll them over tomorrow for next week, the calls. I think we may open flat, or more likely a little down.
~d
Don't pay attention to this, it's what happens AFTER the bell that will be telling for tomorrow.
When I placed a put for tomorrow it was filled like lightning. Could be telling.
The call took a tad longer.
~d
Me too and Netnoogies too.) eom
LOL, back at the ranch with nowwhat...
Have a straddle for tomorrow. They're making it look so bad it's gotta' go up.
''
Two traders I really respect are looking to rally next week. Sat on my hands all day except for a scalp from 11.15 to 10.15.
Tomorrow should be interesting either way.
Why would pension selling be substantial if stocks are outperforming bonds? Wouldn't they want to keep the performers and ditch the under performers?