"If u aren't willing to cut ur losses short, then u probably should not buy stocks. Would u drive your car without breaks?" ~William O'neil
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Covered AAPL put @ .86 -6
Started divergence but price not exhausted yet imo
Maybe a little later a better map to be seen
My own personal mantra taken from other crafty traders
i have bumped into here and elsewhere
Follow or lose money- Me
Trade small listen to charts not people -Me
cut losses quickly let profits run have a written exit plan always
If a trader limits losses to small, and let's gains run , he really doesn't have to be exceptionally good at it to succeed over time -Roy
Always use stop losses.” – Wenzhan BT
“Never deviate from your trading model.” – Richard Weissman
“Trading with discipline.” – Oscar Castanon
“Mine is to never lose more than 1% of my total trading capital in any one trade. That keeps my capital safe.” – Steve Burns
“Never, under any circumstance add to a losing position… ever! Nothing more need be said; to do otherwise will eventually and absolutely lead to ruin!” – Dennis Gartman athttp://www.tradiphy.com/
“Follow the system and block all outside noise.” – Dan de Joya
“Wait for the best entry.” – Jay Chandran
Nice
Bot AAPL Dec 11 2015 118.00 Put AAPL...@Limit $0.92
Only 12% of $SPX stocks' 5-day RSI is over 70, giving it room to run up should it want to. http://stks.co/c2x53
Thanks Penny already feeling better.
Here is a comment from a poster on another board , most of my best ideas come from other people
" Last Friday’s close marked a failure of the three week high test at 210.04 (SPY). Yesterday’s rally seemed to be a three-day test of the high, which also failed. Perhaps we move a bit higher on Monday morning to try to test last Tuesday’s high of 210.68 but it’s reminding me of when we topped out in May, first with a failed three month test of the high, then a failed three week test of the high then a failed three day test of the high, and perhaps the market even brought it to a three hour test of the highs before finally cracking. I’ll be watching the hourly chart now for topping action but I closed out calls Friday afternoon and added more puts in anticipation of a possible three month test of the low at 191 end of December"
Me personally i do not believe the bull is close to being done. Although we could get a negative day Monday
No i wasnt able to follow anything yesterday , terrible stomach virus was only able to check in for a few minutes. But because the day trend was so strong some of the quicker indicators gave false entries for puts.The RSI 14 , 50 line cross is a little more laggard but yesterday was a perfect day that it offered protection, of course it (RSI 14 not falling below 50) was a great signal to buy or add to calls during any minor sell off during the day.
Jeff
I was not able to follow market today I was ill
But look at my post back early in the day the RSI 14 50 line was the thing I got from you
And the Trend strength
Did AAPL ever cross below the 50 lying today with RSI
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=118937575
Stockcharts?
I see what you are saying and seeing perfectly , im such a chicken i would like the 20 ema to be crossed by the 5-10 ema amd also ideally the rsi 14 to breach the 50 midline
Roy Thank you
I have been sick with a stomach virus but just started to feel better right when your post came. I see it perfectly , What would have scared me was going against the strong daily stock price but all other indicators were excellent for a put scalp, even some of smarts lines up nice
Not sure if my screen shot is clear
Stocks ROC - This Has Only Occurred Six Other Times Since 1983
http://ciovaccocapital.com/wordpress/
"I might add that it is when you start aiming for small gains that you start to hit the multi baggers "
saving this one too thanks smartone
Farooq
You are one of my favorite people i have met on this virtual super highway of wisdom.I save these kinds of posts on google documents and re read them.
Thank you
Thanks
he did say 2,150 is a crucial area and we are approaching it again, I like Tony Caldero also he has been dead on. Read your post agree with your premise also.
Good luck
Yes i saw this with TSLA it works really good if you go with the trend,
TSLA RSI 14 gaped up over 50 at the open and you still could have bought the gap at around 231 and rode it for 5 points stayed strong most of the day, the 15 min was even a better tell today. Thanks
Jeff
My only issue with the RSI 14 having to cross the 50 line before entering even on the 5 min chart the option has already moved dramatically in the few cases i have tracked it . Seems to be quite a laggard.Am i missing something ?
Thanks C
TSLA on fire
TWTR IWM also surged
TRIX OBV and MFI all strong on 5 min
Strange how TSLA shot back up
Chaiken on 5 min divergence still on bottom
RSI 5 is up there but still below the 14 on the 5 min ?
The ‘candlesticks man’ says he’s not buying stocks
Multiple ‘bearish engulfing’ patterns at resistance send bearish message for S&P 500
By
TOMI
KILGORE
REPORTER
When Steve Nison says candlestick charts are telling him not to buy stocks, people might want to listen.
Nison is widely known as the person who introduced candlesticks to the West. He has an M.B.A. in finance, but he started focusing on technical analysis — more than 30 years ago while at brokerage E.F. Hutton. In the late 1980s, while at Merrill Lynch, Nison met a Japanese broker who used terms like “doji” and “harami” in conversations with clients. Intrigued, he wrote a short article for Futures magazine on the more than 200-year-old Japanese technique in 1989.
Now candlestick charts — which include information about an investment’s movement during a trading day, rather than just its closing price — are standard on most charting services, and many Western chartists call them their preferred way of mapping the market.
Read: 7 key candlestick reversal patterns
Today, Nison considers himself more educator than technical analyst. But he still follows markets closely, and he says that following a summer spike in volatility and increased uncertainty about the strength of the global economy as the Federal Reserve prepares for the first interest rate hike since 2006, a number of bearish signals in the S&P 500 are warning that the 6 1/2-year bull market for stocks may have run its course.
“I got out [of stocks] a few months ago,” Nison said in a recent interview with MarketWatch.
Technical analysis: Verity or voodoo?
Technical analysis, put simply, is a system some use to predict future changes in investment prices based on past movements — typically by looking at charts, but also through the mathematical analysis of price and volume data.
Some investors and strategists scoff at technical analysis, saying it’s mostly voodoo. Others say it’s the only pure form of market analysis: While fundamental analysis focuses on the variables that can influence an investment’s price, they argue, technical analysis examines the price itself.
In this context, some chart enthusiasts say the candlestick chart improves on other charting data, which focuses mainly on closing prices. The candlestick adds data about how the market behaved during each trading session.
The best-selling product of Nison’s company, Candlecharts.com, is software that automatically scans for prominent candlestick patterns. He says business picks up when uncertainty increases, and slows during extended bull markets.
“As a general rule, when the market goes up, people don’t feel like they need as much help,” Nison said. “The tougher the market, the more the need for education.”
As the Wall Street saying goes, it’s not the news that’s important to investors. It’s how prices react to the news. And candlestick charts, Nison would argue, are the best way to gauge that because they include more data than other charting methods.
Bears have engulfed bulls at key resistance
Today’s charts are concerning because of the four “bearish engulfing” candlestick patterns that have appeared since the S&P 500 peaked in May, according to Nison. In a “bearish engulfing,” the S&P 500 closes at a recent high, opens higher the next day, then does an about-face to close back below the previous session’s open. The pattern, Nison explains, shows how “selling pressure overwhelms buying force.”
Recent bearish candlestick patterns stand out to Nison because they appeared at what he called one of his favorite Western, “non-candlestick” technical indicators: the horizontal resistance, or support, line. Today, he believes that line is around 2,150 for the S&P 500, which has approached that level several times since May but not crossed it.
“If you buy now, you’re adding to positions right at resistance,” Nison said. “Why would you do that?”
Nison prefers to do what many investors, including Warren Buffett, say not to do: He would rather buy after a rally than a dip, when everyone else is buying, rather than selling — in this case meaning he’d like to see a weekly close above resistance, as defined by the top horizontal line in the chart above, about 3% above current levels.
“I like investing on breakouts,” Nison said, using a term that indicates that an investment has passed a resistance level. “I would rather buy at higher prices. If you buy on a breakout, you’ve increased the chance that an investment will work out.”
While this strategy might decrease potential returns because of the higher price, he said, it also lowers risk because resistance has already been cleared. A textbook example of when to buy on a breakout occurred in the spring of 2013, according to Nison, when the S&P 500 closed above a 13-year-long resistance line. The index is up around 30% since.
What would keep Nison bullish, meanwhile, would be if previous resistance around 2,130 provides support for a pullback. (See Chart 2, below.) If 2,130 failed to hold, Nison would get out.
http://www.marketwatch.com/story/the-candlesticks-man-says-hes-not-buying-stocks-2015-12-01
Lots of charts starting to cross negative on 5 min
I am a little leary since trend has been up
AAPL
even on the daily chart
RSI,Williams and Chaiken all starting to hook down
On 5 min
OBV Accum/Dist down not yet on daily shaping up for a bigger down ?
Asia Supply Chain Confirms Continued Apple (AAPL) Weakness - Credit Suisse
http://www.streetinsider.com/Analyst+Comments/Asia+Supply+Chain+Confirms+Continued+Apple+(AAPL)+Weakness+-+Credit+Suisse/11116931.html
penney
thanks for your replies
What indicators were you basing your call on ?
Thanks C
NEW YORK (TheStreet) -- Baidu (BIDU - Get Report) stock closed up 6.03% to $217.97 on heavy volume in Monday's trading session, as shares of the company surged in the final minutes of trading before being added to the MSCI tomorrow.
Baidu is among 14 China-based U.S. traded stocks that will be added to index provider MSCI's emerging markets index on Tuesday
114.80 would look nice
she wants higher with AAPL doing the lifting
AAPL,BIDU,BABA all Bottomed ?
If this is not a correction of any consequence could they all shoot higher ?
They had all sold off more than the other fang type stocks. Beer has had a great call on AAPL.
beautiful scalps , i love how you actually post your trades with times and prices,
Thank you
Beautiful, would it also be safe to say that the BB had compressed very tightly with mostly small red candles which was an indication a move was coming and most like likely down ?
Then it touched the bottom of the band with a green candle with a bottom wick
Thank you
Good buy , most of your indicators lined up 2x today for this trade.
I have a question for you.At around 1 when you bought i assume , MFI was falling but Trix and DMI didnt start rolling over until about 1:15 after you bought your puts and MFI dropped hard around 1:40 on the 5 minute. What clued you in that they were going to fall more ?
Out Iwm 119 puts@ .02
Agreed smartone exactly why i am there , i keep Ameritrade as back up
Huge green candles on 5 MinSPY , Goog, wick a little bigger on top so not conclusive looks like a eod rally may be coming
my IWM .03 C puts was just a lotto ticket
eOption is much less expensive also if you trade allot
puts