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Have a good one. I'm stil waiting on these guys http://www.cnbc.com/id/47887559
Sounds about right. Now in California there are more foreclosures than anything.
We'll see about the market bottom, all depends on the news from helicopter Ben and then we also have Europe to deal with..Nonetheless day trading opportunities are still all around.
Looks like market is waiting for Fed's announcement. IMO they won't say that QE3 is coming anytime soon, but they also know that they need to boost the markets or else it could be a free fall. Will wait till Bernanke speaks.
ah i hear ya. I am in Silicon Valley, CA but i think on my income i could be living much much better where things are more "normal" priced.
Texas..beautiful place to live. Looking to relocate there at some point.
On a side note, any one buying monthly VXX calls as a hedge?
There is plenty of opportunity everyday to take at least 30% profit on any particular 10-30 min run. You must use 1,3 min charts and be an expert at RSI STO (I use slow STO) MACD CCI.
Use 5,10, 20day MA on your charts. Practice it, with time things come together.
Jimmybob is a good guy to learn from as well, he is def making big big time money. Everyone has their own style in regards to risk/safety. Find what works for you and perfect it along with setting goals.
making $1k a week trading options should not be a problem if you are a "serious" trader. If anything the question to ask oneself is where is the limit? How far can you push the envelope.
It's all in technicals.
“It’s options expiration week, but you’d be a fool to be long this market—even the Greeks are pulling their money out of the bank,” said Todd Schoenberger, managing principal at The BlackBay Group. “Then you have the Fed meeting next week and if the market doesn’t hear what it wants to hear, we’re going south and it’s going to be one of those shock-and-awe trading weeks…it’s going get really ugly.” quote from the article on cnbc http://www.cnbc.com/id/47812235
P.S. cnbc is a speculative news source, so read between the lines.
I have no idea what to believe anymore. I just trust my 1 min and 3 min charts along with my lovely ADX and Fast STO MACD RSI :)
news that led to this spike http://www.cnbc.com/id/47812235
Market just went from 12,580 to 12,660 very fast. I don't see any news on cnbc or anywhere..Anyone know the catalyst?
SDH- this is what I'm talking about! tomorrow will be a great day for trading. We are going to see a lot of up and down movement..Maybe mostly down? I can't possibly see the jobs report be a good one..
Either way, the market will shoot up or shoot down. Watch ADX chart, RSI, and of course macd. Many may move below 20MA on the 1,3,5 minute charts-clear signal for hopping on a "put" wagon assuming other indicators are also looking clear.
+1. I am in for a evening "strategy" session. I am on PST usually get home at around 5pm. 8pm EST for east guys/gals
I strongly agree. Keeping emotions out of this and being patient is key. I have learned this from experience..
Amen to that. SPY has dipped below 20MA on my 1minute chart was looking to pull the trigger but tested my patience. turns out there really was no down movement. Quite an interesting day.
SPY 132.98 right now
SDH- for day trading. besides macd 3, 5 min charts, what else do you use?
I use ADX, MACD, RSI and often times Full Stochastics.
Any other helpful indicators out there?
Amen! We need to stick together in this market. I was analyzing FAS and VXX for today. FAS did a nice fall and VXX did a nice run up.
It's all about getting the tip before anyone else does..And these insiders play golf together take vacations etc. They have the sources that they need..while only thing we have is CNBC and technicals.
where did you see the alert? Nice play BTW.
Aww great find!! I will be looking into puts for FB (not in it yet.)
Once the bears get a grasp of LNKD i will be joining as well. Need to finish 2012 on a very strong note, so far I've been patient..
This would explain why executives at LNKD have been majorly selling their stock. The fail of FB put gray clouds on social networking businesses.
I don't know how many have noticed but google finance tells me taht LNKD P/E is 575..should LNKD be in the dirt with FB?
Anyone else still stuck in this boat with me? With this global recession do we even see a company like this potentially become profitable within the next 10 years?
With no news/updates the company is majorly letting us down. I would have been better off investing my money in facebook. lol.
Smart thinking SDH!
in on NFLX May $90c should see a rebound IMO
what SMA do you use for daily charts SDH? I understand that 10 SMA works quite well..
Amen. I was close to pulling the trigger as i had a feeling earnings would be ..awesome. But i decided to stick to my rules and not hold anything over night. sigh..Looking forward to trading aapl on its way up to 1,000 :)
JNPR just went sky high. $21 calls went from .50 to 1.65 in matter of minutes..hope someone was on that train
I hear ya. Markets have been tough to predict but soon enough we will see what happens. SO far this reminds me of 2011.
thank you for your input. I did see your post earlier, i liked the idea and that got me thinking. AS for premium, they def seem to be very high and may not move much. I think i will stay out of this and just watch for swings.
Dear Traders,
i have a question. Most likely AAPL will beat earnings, and we know that earnings can either drive the stock down or up. In AAPL case i believe it should go up. Anyone buying 600 calls? If so, are you also buying $550 puts to be safe?
I am undecided about what to do..please share your thoughts.
likewise here. Waiting for a nice pop, things are looking really flat right now, all my indicators. I like trading on Fridays due to lower cost options and bigger returns,but when its flat its not exactly working out
yup. I had PCLN and AAPL pulled up on my etrade pro all day. I was watching them while working. (work in IT, so i do have time to trade, just not enough time to catch random runners as i constantly gotta be paying attention for that)
haven't entered a trade today, i didnt like much that i was seeing. Tomorrow should be an interesting one thats for sure. To be honest, i am surprised people are not buying up AAPL due to earnings.
Apr 24, 2012
Q2 2012 Apple Inc. Earnings Conference Call - 5:00PM EDT - Add to calendar
you're not the only one. and i also missed nflx run. IMO AAPl should run high tomorrow on anticipating of earnings. I won't be buying anything and holding over night though, if anything catch a swing tomorrow on it.
Good Morning!! What are you watching right now? I am keeping my eyes on AAPL for break out.
agreed. I am being patient, our 3 min charts are not so attractive yet.
you where in on that one?
good quick play. watching AAPL and PCLN right now.
Good morning folks!
What's on everyone's watch list for today?
You have very good points. thank you for the input
Thank you.
Any suggestions on Volume indicators? the bar's are just not a good visual indicator of increasing volume for trading. There must be a volume indicator that works very well for day traders.
Any input is appreciated. Thanks guys. I read a lot but don't post too much and i must say it is nice to see such comradery.
quote for the day: "The more I practice, the luckier i get." -Gary Player
No entry point picked out yet for PCLN or AAPL. I think AAPL is more of a "safe" stock to play due to upcoming earnings. Could see it even hit a 52wk high in my opinion.
However, i am using L2 now at work on my own laptop and trading with live charts, macd CCI is the only way to go. I just follow the trend now 1min 3min charts for confirmation. 5 and 15 min charts are also good for long term swings (aka 1-4hrs) and watch for resistance points.
If it's a downtrend on the 3min candlesticks and Stochastics are pointing down along with CCI moving down then its a good time for a put and same for calls with uptrend. I am still learning and far from where i would like to be. Nonetheless, patience and keeping emotions out of this business has been working, and i believe that is key.