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Short at 36.78
In edit. Nearing support at 36.50 on the last dip, caution required. Bounce from 36.55 is the strongest so far this morning.
Covered at 36.61 for +.20
Short at 36.81. Was asking 36.89 but looked like no fill coming.
Need to be aboard even at an imperfect entry.
Covered at 36.74 for +.30
Hi Lisa, good morning.
Pray tell, what is your view today? Early departures for a long weekend and prices falling of their own weight?
Short at 37.04
Covered at 36.94 for +.26
Short at 37.20
Covered at 37.10 for +.23
Short at 37.33
Except that Zeev does it all the time with success.
Covered at 36.63 for +.27
Net +.79 for the day. Gone.
What do you think for tomorrow and Friday (pre Labor Day), Lisa?
One more for the road (while I change into my shorts and sneakers): Short at 36.90
In edit: SOX line chart sure looks like H + S from one o'clock until now.
Well, yes, but my problem (always) is to identify exhaustion.
Stopped out here at 36.89 for the dime, making a net of +.52 for the day. How much smarter I would have been to follow your advice and worked the other (long) side of the street today. But nooooooo, I had to follow my own (wrong) opinion <gg>. Oh well, that's why I am not rich. At least I did manage to stay away from the techs today. Done for the day. The doc wants me on the treadmill in half an hour.
Yep, those numbers look right to me.
Lisa, okay, now I have two red candles on the 5-minute breaking the channel of the one to two o'clock ramp. Was THAT (37.03) the HOD?? Pretty good volume on the 15-minute bars that hour, but slightly declining toward two o'clock. But no significant damage or change in intraday character for the SOX and COMP that I can see. So I remain wary, although a run this big ought to tire. Stop moved down to 36.89, assuring another dime.
While typing, I see a LARGE volume bar (5-minute) on the decline. Maybe the day's ramp is done?
Well sixty cents later (higher), it's clear that you had a lot better idea than mine this morning as to direction. <g> So tell me when it is going to go south and then I will board that train again. <vbg>
Aw, heck, short again at 36.99. In edit, stop at 37.04.
In edit again, looking to short techs such as EXTR, KLIC, RFMD, and LEXR on what I think is going to be a failed attempt to better last week's highs. BTW, I failed to mention earlier that I read candles, and along with volume, I think they can be very valuable.
Covered at 36.82 for +.07
The regular stuff, several time frames, stochastics, support and resistance levels, b-bands, MACD (with reservation, by definition something like moving averages, and I think more lagging than leading info), TSV (proprietary from TC2000). I read e-waves by others (raptor) but see too many re-interpretations after the fact to fit what happened, so limited value, although more than zero, I think. Maybe ADX, but interpretation is rarely very clean. Volume, and especially considered in the context of what else is going on in the market and news. I like to consider what the several fairly savvy contributors to aj's board have to say, although I think some of them have a disease similar to mine in that they sometimes tend to outsmart themselves. I pay attention to what Zeev is doing - he apparently has such a large and significant following, that his actions alone move individual stocks, I am convinced.
Short here again at 36.89
Stopped out while at lunch at 36.59 for -.07
Short at 36.52. Persistent. Or stubborn is probably more like it.
Lisa, am I speaking in any TA language that you cotton to? Look, I'm just a day trader, mostly, but looking for a swing position wherever I can find one that is solid enough to let me escape from the screen.
Covered at 36.47 for +.02. Expecting a breakdown has been an exercise in futility so far today. Wrong is wrong.
Yep, I see it. Would you judge that the top for today is in at .54?
Short at 36.49. Decreased volume on the 10:40 ramp. It's still a knife and dangerous. Since yesterday's bottom at 35 and small change, the price has riding the 15-minute b-band up. On the hourly the upper b-band is being touched, tempting to stay short. SOX still looks to be having a bit of difficulty northbound.
Covered at 36.29 for +.09. Set up is not performing as planned, step aside.
Short again. 36.38. A good bit of work to trade for a dime at a time, but I remain bearish and will try to be aboard short for a good southbound move in nearby days/weeks.
I don't know, I don't do much with MAs. Anyway, broke it's little budding down channel on the 5-minute and I have to exit again. Covered at 36.19 for +.20. In edit, SOX headed north sharply again. I'll be looking to see if the early morning 441 area shows resistance again. The 15-minute SOX continues to show stochastics overbought, eightyish. On the hourly, over 90 and touching to cross. Better sell signals than buy, in my opinion.
Five minute SOX candles look toppy
Short at 36.39. In edit, much better entry.
Whoa, covered at 36.24 for +.11
I guess my opinion is the opposite. Short at 36.35
Covered at 36.92 for +.57. Stochastics on the 15-minute bottoming near 10 and hooking to possibly turn up.
Looks like the INTC favorable revenue forecast which apparently gave the whole market a shot is being sold after the initial positive reaction. My take is that the chip business and especially the chip equipment business have poor fundamental outlooks and their stocks are quite vulnerable.
It is hard not to translate that into potential weakness in the SOX and SMH. I do not expect straight down from right here, but rather a series of halting stair steps that can be tradeable, mostly on the short side.
Today's possible G + C, if it develops into full bloom, could be a signal to traders everywhere to take profits. Already, it is difficult to see anything less than a run of longs ducking for cover next week.
The current SMH short position is looking rather solid, the TA being in sync (my own take) with the above outlook.
Three black crows on the 15-minute, and sharply increasing volume on the third and fourth 15-minute bars, 1.5 and 2.3 mil shares.
I'd lean toward the toping candle interpretation. What other good/better news is likely to hit the screen? I'm selling this sharp rally.
Short at 37.49. Looks like a blowoff top. Maybe not, but so highly overbought that at least a nice scalp looks to be available.
The thing looks to be a backtest of the lower uptrend line. That, together with the overbought stochastics picture suggests to me danger in going long. If not short, then sidelines is my read.
Good move. I was tempted to try another short in the upper 50's near the close, but another day of late session strength keeps me gun-shy of overnight positions. I expect that we will get good tradable swings tomorrow. Sleep well tonight.
Stopped out at 35.43 for -.01
Short at 35.42. Cautious as to possible last hour strength, but staying aboard for likely southbound.