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Work for what? up or down? don't understand..
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BGZ may be but no sure about CAT...more upside...
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It looks like the market has tested the neckline (where it broke out from ) of the inverse H&S successfully and if nothing else should proceed to SPX 1175 and above....
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On track.
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Did I say it is a top? A pullback is imminent and if the pullback exceeds 505 then the top is in.
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Only that the timing could be within 5 days. In any case, I think this is it for this burn...OEX 520ish. another close to 200 Dow Points...Duchamp et el. believe it or not...
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Beerworld,
The following stattistics on triple witching may make you feel better..
In addition, OEX, the most technical index has a TSS signal on Sep14 and by Monday it will have satisfied the minimum requirement for 4 days......
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http://www.tradingtheodds.com/2010/09/septembers-triple-witching/
I have shorted OEX and CME (not CMG)...will see...
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Anybody taking a stab at shorting?
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Duchamp,
Dow futures now up 35...you call this criminal right....there is no law here, Mon Ami....
RIMM & ORCL very good AH...no wonder NDX is so strong today..talk about insider trading (criminal) I think it may just blow past the triple top tomorrow, then retest the breakout and continues higher...here comes OEX 520...
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I think this is the problem with thinly traded options..any block trade will affect the pricing greatly. This is what you get from trading far out of the strike options...volatility...if you want more fair pricing, go in the money and look for options that are not thinly traded....
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No need, I don't have any position....It may be a blow off top...
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Koon,
What I am seeing today is the Put buyers are flooding in but the general public is not selling as yet...I have seen this many times before. the outcome is the option guys are going to lose out...I am ready to short but withholding until everyone says SELL...
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As far as I am concern, there is no change of tend until OIH breaks 106, OEX 502, NDX 1900 to the downside...else they are pullbacks and dip buyers would come in...
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50 points a day x4 absolutely doable. No sell signals for the major indices whatsoever.
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Hey, Duchammp
Don't tell me u don't know the market is full of thieves. LOL
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OIH gave a sell signal today...but not OEX nor NDX...I have a feeling my EW target may be right...it may jump close to 520 before anything...can you see another 200 DOW points up?
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There is no sell signals yet, remember TSS rule is 4 days after therefore, it may go to next week before pullback. There is no need to check the relationship between TSS and VIX as the one with OEX tells all. Just the reverse is redundant in my opinion.
It is also speculated that just BOJ acted alone without the concensus of other major banks will not work. I see the Dollar rising and oil falling but NASDAQ is strong. Tops are most difficult to engage, it may just meander sideways for a good few days.
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OT: I normally keep a copy of my trading Excel spreadsheet in a USB, if my computer breaks down, I just go to another one..other trading platforms are on the Net....
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a Tally of TurtleSoupSell
SPX, NDX, DJI, IXIC, GDAXI, BKX, XLF, OIH, QQQQ, OEX, AAPL, OSI, XAU
This is also in conjunction with Jap Candle Sticks "8-10 days high"
At the least, longs should be liquidated. I will look to short.
2bit
OEX finally joined the TSS club
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This is simple inverse H&S, the TSS will probably provoke a pullback at the neckline and then the market will continue up to reach old high...
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My simple minded EW says if OEX passed 492 and it did, the next stop will 521ish....
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remember the 4 days..and even so may just be a pullback the market is going higher...
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OEX 520 next target...that jert TTheory changing his T's again..Aug26 came and gone.....were you able to listern to his MP3 sh..t...
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TSS Club members so far
xlf,oih,qqqq,ndx,ixic,aapl,osx,xau,gold,gdaxi,ftfe
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Lucky you, Desert, XLF just joined the TSS club, just waiting for SPX, I am sure there will be a big down day next week..
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No Desert, the rule of thumb according to Linda R is at least 4 days before...give or take...but that does not mean it is not going to happen right away...
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OK you permabear, Desert, good news for you, OIH just joined the TSS club...
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Desert,
It is just called TurtleSoupSell, TurtleSoupBuy. I learned it from the book "Street Smarts" by Laurence Connors and Linda Raschke. They are supposed to be the legendary traders. The book has nice tricks like RSI(2) etc etc that you see people talk about a lot in other boards. It was an expensive book for a 200 page book. At the time, it was almost a dollar a page. Sucks.
APPL, QQQQ, and NDX, IXIC all have TSS signals now, but like last time we may have to wait till the other indexes to catch up to get a big bang down. Desert, right now I still see uptrend, no down movement yet. Just small pullbacks here and there.
The way I see it if OIH and XLF and NDX all have TSS signals the market will be toasted, then I will borrow to short and vice versa
Today Oil is holding the market up, no shorts
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Desert, FYI
TSS on Nasdaq, early may take 4 days to materialise..
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I think you did it wisely, the prognosis has not changed, OEX should go down to 490 at the least...will short again tomorrow..
Especially if they burn the Quran this weekend...
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Shorted today..day traded for dinner money...I will be back
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OK this is my analysis tonight. Market is due for a pullback, should start tomorrow to OEX 488ish that is approx Dow -160 points then it will continue its uptrend.
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Desert,
That was exactly what I found. An R3 with a TSS, an R3 with something else that works else....it is basically too much work... and frankly I am not even sure whether the R3 is just a manifestation of something that is already obvious..
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Desert,
Thanks. I used to keep track of R3 using the CME site but after tracking it for a year with it giving many false alarms, it was not worth my while to continue. FYI
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Who's John?
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The market is very bullish R3 may not work in an uptrend...
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