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We will run out soon enough. The only question is when. This market is on shakey legs so I would get what I could get before it's legs get kicked out.
The perfest world would have us make a nice run towards the election and maybe even the end of the year. If it did I would buy every gold bar and oil drum I could find and throw in a nice big piece of RYVNX. If you look at the RYVNX chart now it looks like it is already fueled with the count down IN PROGRESS.
Thanks leading
No market bellweathers after today till Thursday. That's why I think the next two days will be nice trading days.
Gold.....If it makes it here it will be time to LOAD UP....period
The simple would be a good place for a fill as well
Isn't it IBM today...not quite sure who but someone big
Chart attached after edit...Just took 1113.25 from my 1109 entry and will wait till after hours for re-entry. The chart looks a little rough.
We are also at the down trend top right now so a pullback is probably in order.
Had two orders in today. One to buy at 1102 (previous low) that went unfilled and one to buy at 1109 (just above the gap and daily pivot)...that one filled. Stop was at 1098, but now moved to 1103. I'm watching now so I have a mental stop at 1110. Both of those are .25 below the most recent lows on the 30 minute chart.
If the after hours reports today don't put a negative spin on the market we will go up for at least the next two days.
Oil, gold and energy are falling right on que. The move friday in gold looks to be too silly and more or less a gap fill from the Tuesday night mini crash.
A real nice set up long. ADX came back for a touch and go. RSI didn't want to stay below 50 and the price stayed above the 13 EMA all day after touching a flat lower BB Confirming volume as well.
Sonic
You can believe everything that Easy guy says about charts and nothing he says about anything else...lol
If he asks if your hands are big...just say no
Wait for this pullback in metals to finish and put a big portion there. Short term the markets should run a little as they all are at some good support. This will force the oil, energy and metal sectors to continue their retrace.
HL anywhere in the $5's is a double play. $5.00 like I posted on you old board 2 months ago was the bargain of the century. It only took me two months to take close to 50%
I could use some of that myself. What an azz she had.
Good to see you around. Don't be a stranger
I hope this chart comes through. Those from the old board should remember it. It's time for a huge move...just which way??? Look at those verticle lines (Time Fibs) and the horizontal lines (price Fibs) They have had as big of an impact as the trend and fork lines.
A simple chart of lines for the S&P...Does this baby stay in the lines or what? For those that don't know. That's a big time BULL FLAG we're in utill the pattern breaks
If the chart doesn't load, here is the link:
http://img30.exs.cx/my.php?loc=img30&image=Lines.jpg
I'm not liking the action here. It's hard to tell if the market may be trying to form a SHORT term bottom here. I'm closing shorts and going flat into the weekend.
It might just gap up Monday morning...
I bet you wind up making some nice coin...good luck
Not for me...I could be wrong but it looks like a falling knife. Where does it stop? I need to see something in it's way to make me understand why it needs to reverse.
Call me chicken but it's off my screen where I can't see it anymore (lol)
I have been watching for about 15 minutes and I have seen 10 times more sell trades than buys but the volume on the buy side is double what the sell is.
Typical buy....20 - 30,000
Typical sell...500 - 1000
One buy can come across for every 10 - 15 sells and still overpower.
18 mil sell...18 mil buy and 22 mil between...give or take a few mil...lol. That' why I think the brunt of the sell was early.
If you want to play...now is the time to watch.
Are you watching T&S now. There are still ALOT of husky buys coming through. I would guess the bulk of the selling was early. Smaller stuff being sold now as if it were the daytraders that are giving up.
Total for the day has more between than on the bid or ask.
Yes, once $1.12 got taken out it's anyone's guess. Then you're trading blind...or so it would seem. It seems like there are still too many buyers. They may try to flush it once more.
Watching tha action in the last 15 minutes on these issues is a good indication of the next open.
I don't see any support on this thing. You have to go back to 1999 to find a lower price
A few a week - 150 round trips - 300 total
If the ES can't hold 1108 right here and now the market is doomed for the short term. It probably is anyway...lol
BOOM, there it goes...it can bounce all it wants - the push down is imminent now
I got a few @ 1108 for a swing short...carrying THRU the weekend. Let's hope they don't catch Osama...at least not THIS weekend...lol
Just tell them a couple of years on futures and none on options. They don't care, but they do make you answer a questionaire. Stupid stuf to CTA
Out of my long from 1103.5 here @1110.
I don't carry long future trades thru the weekend. I am looking for a short entry but may wait until next week. More downside to go.
Definately Oil...
If the price doesn't lay off the market is going to crash. Long 1103.50...stop @ 1099 (LOL)
Seriously...
NDX didn't even take out 1425 but the S&P broke down exactly opposite of crude oil's launch. Good support here and still green for me for the week only going long...lucky I guess. The move down may not be finished but it's too hard to jump in on the short side.
Watching my old standby stocks for re-entry: HL, KRY, CHK and EGHT. I am done with this trying to find the bottom on these weak stocks. It doesn't seem to work for me. :( I got stopped out on all 3 of my stocks today at break even minus commission: LSI, TXCC and LTXX.
I may try one occasionally if the setup is right but it seems to me that this is a market that needs to be played on strenghth and not oversold hops...good luck to you guys.
It doesn't look like the market wants to flip. It is spending too much time in this tight range and the chances for a plunge increase by the minute. I am out of my long from 1110.75 now @ 1113.25.
Flipping over...eom
Everyone have a good one.
Good to see you drummer.
What problems are you having with the board? speed or something? It seems to be fine for me. I keep hearing people complain about the advertising or somethin not letting the page load.
Anyway...come back when it's working better.
Cap...chart looks great but I think they have some kind of "junk" status or something. I am not going to read the news (cause I wouldn't know what I was reading anyway) but I would bet it will provide some volitilty here at this resistance. Probably a good one to day trade but too risky to swing and hold overnight...LOL
Nice find on the chart though. It I hadn't seen the little news ball on my ticker I would have played it if it got to $4.70.
Cap...KRY is in my IRA as a LT trade...eom
Did I hear someone say it was NOT a good time to be in the gold and energy sector...LOL
Good buying opps just around the corner for the ones that can figure out an entry.
One more thing...WTF happened with ADSX??? Look at all that consolidation and the the BIG FAKE OUT by dropping it 3 consecutive days before the moon shot. Great job manipulating that one by the MM'S....what a bunch of CROOKS...LOL
It was surely the weakest of the bunch today. Today's breadth was MUCH better than yesterday's. There was WAY more buying today. I see a nice 5 down complete, finally filled the last gap from this run up and sentiment changed 100% from all bulled up to all beared up. Now it can go up easily and leave everyone behind.
Long 1110.75 with a 1108 stop. Screw 'um
My next long attempt will come around 1102 if I like the charts.
That is why shorting here would suk. There is no good place for a stop that can't get wiped out quick. It's really hard to short a market that won't retrace unless your balls are bigger than your brain.
Gotta go
Preferably an initial stop below the last low. Then let it go until a new higher low is formed on a 30 or 60 min chart. Then I would go 1 point beneath the new low or a significant break of the 13EMA on the 60 min chart. Keep moving up as each new higher low forms.
Previous lows and highs are used for stops as well as daily fibs. The pit traders are BIG on daily fibs / pivots
Yesterday's low = 1116
Daily pivots are:
P = 1121
S1 = 1117.25
S2 = 1112
R1 = 1126.25
R2 = 1130
Leading...
If 1116 gets taken out then it could get real ugly. My stop is a point low just in case. The trend line varies a point or two as well...depending on the time frame of the chart. If I get stopped I will be an observer until the dust settles. I am not very comfortable shorting here.
Oh well...back to work. Good trading to all.
S&P is on the trend line that touches the August and September lows. I'm taking a stab at a long 1118...stop 1115
It came back down and filled the INTC gap perfectly. It should be a green day.
Everyone have a good one.
Look at the breadth statistics as well. These are numbers that make the bears want to puke. I was on the long side of everything so I'm not complaining but....PLEASE. Why did this market stay close to even today...LOL
This was taken from here: http://www.marketvolume.com/content/products/mktsum/mktsum_adv_dcln.asp
Here is the chart with the trend line.
Maybe...lol
72 minute - 24 hr. continuous contract
I don't like to be in the mini trade going into fed meetings and big earning announcements unless I am up big. It's one of the few times the mini's can gap big. You are right though, I shouldn't have packed in so early but I was looking for an exit and I thought the 4 day down trend line would hold it back.
Sweet pattern trade and right at support
NICE
Cap
Until you get your Metastock running use SPY instead of $SPX because stockcharts doesn't show the TRUE oppening of the index. You don't get any gaps which changes the chart ALOT. The SPY will show you the gaps and change your studies significantly. It's really not the S&P but it makes a better chart to study.
Also, go to this thread and tell me if my chart shows up for you.
http://www.investorshub.com/boards/read_msg.asp?message_id=4270726