R3...

It seems that with this indicator the next day is always an up day and then the real pain (to the longs) comes

2bit

Very funny Never Mind,

yes, start counting and see you at the bottom..( I mean when the market is at ..) LOL

2bit

R3, Never-Mind-Man, mark yesterday Mar 31 R3 as change of trend signal if you want to validate and see how good it is...

S&P 500 CALL 6811 224756 + 1285 (vol OI delta)
S&P 500 PUT 35398 412616 + 16831

2bit

yes Two Jan08 & Feb12...got to put on my old fart lens...LOL

2bit

Why do I have this funny feeling that today is like Jan09 and Feb12!

2bit-2bit-2bit

yep I closed my shorts and may reshort again tomorrow...if it bounces tomorrow that will be perfect

2bit

Hey Blasher,

The DJX R4 cigarettte turned into a freaking pipe....

Holy S

2bit

Never-Mind,

Jan07 10180/61806
Feb05 7943/26253
Feb23 14312/44244
Feb27 15160/66881

u can check for uself, the market fell within 3-5 day and also indicated a trend change...

nobody said it is going to fall through the crack but is due for a retracement...me take OEX 351.72 Apr3, next 326.15 Apr09 and u don't want me to go on do u?

2bit

Fox,

Kind of looks like a distorted diamond but my own record shows a WR7 followed by an NR7 followed by an NR7. That said meaning exhaustion of last trend which was up and imminent break out..

2bit

Never Mind,

Ya, me do agree remember Scam used to post after the fact but
Jan07, Feb05, Feb23, Feb27 did indicate down turn, check for yourself...

2bit-nothing-not-nuttin...

Blasher,

what about delta 11175/2164 = 5.2

may be a cigarette! ha!

2bit

Is the market turning or not?

2bit

Bob Wing

Do you consider this as R3? Mar2709

S&P 500 CALL 9719 218912 + 2164 (volume OI Delta)
S&P 500 PUT 23627 381837 + 11175

da 2bit

Bob, Wing,

Thanks for the reminder, me being lazy and pessimistic will take any R3 face value.

Spring has sprung up here. We used to get a big dump of snow around April 1st week to end the Winter in grand style. It does not happen anymore, Al Gore must have been quietly up here.

The following must be the DJX r3 you were seeing..



and this is what I am trading on



have a great weekend

da 2bit

NM, ur telling us more down on Monday! I8R

"Awesome, we go into Monday with a 2 to 1 long Bias, Sweeet!"

2bit

Foot, I am keeping my gold fillings in my teeth..LOL

da 2bit

The Mar20 last Friday R3 is in effect according to Scamman 3-5 trading days? or not...

da 2bit

Never Mind Man,

Which sorry Asskie's are you Crash and Burning, me feeling pretty dizzy reading ur posts...things heating up? maybe me put on my boxer (oh shorts)...hmmm

2bit

IBM down 3 points AH

2bit

Gleno, don't be so sure, it can go sideways and wear out your premium...unless you bought stocks...LOL

da 2bit

We need Gleno to go long to terminate this BS rally. LOL

da 2bit

Blasher,

are you being sarcastic on NM's forecast or are you using his forecast as a contrarian indictor? LOL

2bit

Thanks, Bob,

It's quite possible, if the Fed keeps buying all bad assets the market will keep rallying and whether it works or not it is too far away for the market to see.

2bit

Fish,

Since Jan 2009 we have had 10 R3s from CME so far

Jan7
Jan26
Jan29
Feb5
Feb23
Feb27
Mar02
Mar05
Mar06
Mar20

You can see for yourself. I think they are alarmingly accurate and indicate the start of down legs. Only one catch, if there is a succession of R3s as in Mar02-06, it might indicate a bottom instead, just need more time to validate.

2bit

R3-Mar20
9600/31207

2bit

GE's rating slashed

2bit

Wing/Foot,

Friday's CME R3 never was fulfilled and there was a close call R3
this week too. Monday's down was too timid for an R3

2bit

Foot,

Good observation, oil is not supporting the rally...a big red candle tomorrow will fulfill the earlier R3...

2bit

Foot, middle of 2nd page

S&P 500 Call
S&P 500 PUT

2bit

whichever way you look at it, it has to complete wave 3 and another drop into OEX 305...before an intermediate bottom....

2bit

Wing, another R3 Friday Mar 6,

I guess they just don't give up do they?

Call 12652
Put 39398

They really want blood in the street...
2bit

Hey, Oman,

It was a day trader's dream day. The market got pumped to r1 then you short till it fell to s1/s2, close it before 3.30pm of course. I actually turned off the quote machine, went downtown, watched girls in minis (it was 12 degC in GTA yesterday) came home before 3pm and covered. Couldn't feel better.

da 2bit

Wing,

I covered my OEX shorts before the up surge around 3.30pm. I am not entirely convinced that this is the bottom. Just covered before the weekend like those others.

Have a good weekend.

2bit

Wing,

The way I see it is different. Today could be like one of those last October days with suges but were the last chances to get out of longs before the market continued its decline. It could be the same here for I don't think the target is reached yet...think of it this way...who in the right mind would buy into this market...just short coverings and no buyers...so it grinds slowly down....though I could be wrong...but I am not going long...

2bit

Junk,

according to Elliot Wave we are in wave 3 of the one started from Jan7 and the target is OEX 305, that is 20 more OEX points (~400 more Dow points) to go.

2bit

Wing, another CME R3

Call 12002
Put 58910

2bit

Wing,

today is your NDX r10 and CME r3 day, OEX on its way to 300...

2bit

Wing,

I guess history repeats itself...exactly like last time CME R3 followed by NDX R3, it is going to be a 2nd distribution day coming...

2bit

Never-Mind Man,

"We expect prices to Fall out da-Bottom this week and clean EVERYONE’s clock, OUCH!?"

or It should be

"Friday's close should be significantly higher than last Friday's" LOL

2bit

Wonder what happened to volunteers? My daughter spends an hour every Saturday reading to a kid in the public library where they have free programs all day.

2bit