It's very nice! (: and looks like it's playing out just as you anticipated...

The line you've drawn from the TOP to the number 1...I'm curious about that section of the chart. Is all that stuff under the line countable? is there 5 waves down in there somewhere?

I know E-wave is supposed to work in every time frame, but are you confirming this count against counts in larger time frames? Do you think it's stronger if all the counts agree?

I'm no E-wave expert at all, in fact I find it all pretty confusing, except for in really long time frames... but even in a short timeframe, isn't the 'c' up supposed to be much longer and stronger than the 'a' up?

thanks!

Kate

Thank you...(:

Volume and the transports...well, we had a huge Up volume day on the COMPQ just last Thursday, bigger than any day since the rally began on March 10. Shouldn't that have been a confirmation of the rally?

Looks like the $TRAN has been mirroring the S&P throughout the March rally, but it was flat yesterday on a positive day for S & P...maybe that was the tell....?
However you did it, congrats!

What do I think...?

I don't know. Near term, I have been looking for a run higher in the indices. 10,000 on the Dow, 1000-1050 on the S&P--due to the factors I cited previously-- some strong TA on the moving averages (including a recent golden cross on the COMPQ and the SPX--and which looks imminent on the Dow, too...)

As for FA...tons of bad news out there alright, and more to come, but how much of it has been priced in? In these markets, sometimes bad news is well received, and good news is sold, so I don't have the slightest idea how to trade that...

Traders used to say, "don't fight the Fed"..."they" want these markets higher, and
I think that's where we're going. And this is, quite possibly, just what the country needs right now: stronger markets will boost consumer confidence, job creation, and give a windfall to the government in the form of capital gains taxes...it will provide everything that we need to pull ourselves out of this hole. IF IF IF I'm making any sense at all on that score, I can see the markets at worst moving sideways, but no revisiting of the lows, no crash. The only crash I see happening is Up. But I'm very open to other arguments...<g> God knows I've been wrong before!

Right now, my goal is to trade, as much as possible, from a technical standpoint.

I also think GOLD will continue much much higher after this near term weakness...


Kate

How about ESLR?

I'd say the target is right about here, at the 50dma....2.15....
not that it can't go lower....

Why do you say it looks like it's going off a cliff? Just curious, you may well be right...

I see today the Dow closed above its 20, 50, and 200dma...all bullish...

If it gets above and closes above the cloud, the cloud will act as support, yes?
That's only 20 points away...

Also, we have the bullish bias of the holiday week...also end of month, end of quarter window dressing... to keep us moving higher.

Just wondering what you're seeing that I'm not!

Thanks,

Kate

What are the ym's?

Thanks,

Kate

This resolved to the downside...what are your thoughts now?

Thanks,

Kate

What do you think of STEC here?


Thanks,

Kate

Any thoughts on ESLR? Broke out yesterday on huge volume....


Kate

that's a happy face isn't it?

(: note the placement of the parenthesis relative to the colon!!
or is this better? :)


lol!

Kate

thank you gloe...(:

good trading to u....
Kate

what is WWW?

Looks like you had it right (from where did you quote that blurb?)--about the gap up and crash down...only we didn't see that here until 11:00am, I think?

Would have been nice of you to give us that heads up on this thread? as opposed to posting it after??



Thanks,

Kate

If it breaks above, will you go long?

thanks,

Kate

Yes it is AJ's thread, or was---he is missed! But I think he stated he's not going to be posting here anymore...? and it looks like the other great traders that posted here--smilinghiker, Teaparty, etc...are gone too...or are they just on hiatus???

I've checked out this board every day for a few years now, I hate to see it disappear!!

good morning Jerry...

what are you trading this morning? I jumped into STEC yesterday. Trying to hang on...

My informal survey of sentiment says no one believes in this continued rally. Everyone is ready for that other shoe to drop...

Maybe you ought to take over this thread? Put up some charts with parameters you like, plays you're looking at for the day...?? it's become very quiet around here!



Kate

wow this is cool! thank you...


Kate

Hi Jerry,

Well done on MS!! When you have a moment, I've set up a chart and wondering if this looks okay to you..

http://stockcharts.com/h-sc/ui?s=MS&p=5&yr=0&mn=0&dy=2&id=p26056489608


I can't get a three minute chart on stockcharts, it's 1 minute or 5 minutes..

Right now it looks like the CCI is dipping back towards the mid-line--no, it just tured back up. That is a leading indicator, yes? Do you look for a cross of the zero line as a buy/sell cue?

I see the 10ema crossed above the 20dma yesterday in the last few minutes of trading yesterday--was that a buy signal? And in the first few minutes today, both the 10ema and the 20dma crossed above the 50 and the 200--that looked to be a strong cue to go long! On HUGE volume...

Thanks,

Kate

Hi Jerry...
i know you're busy now but would love some more elaboration on this when you have a minute...

I'm looking at the 20-50-200emas on the 5 minute chart.
what does "3 min es with 10 & 30" mean?

I know you like CCI as well, correct? does it cue your entries/exits on extremes?

thanks!

Kate

Jerry do you watch SNDA? hitting new 52 week highs as I type...

Hi Jerry,
if WFC takes out the HOD, you'd buy, and how much of a quick gain would you be looking for?

thanks,
Kate

This is a great post!!


Kate

This is a great post!!


Kate

Hi Jerry,
I don't see the pivots on the chart--how are they indicated? and how do you calculate them? are they Fib numbers?


Thanks,

Kate

I'm in too. What's your target?

just sold my RIMM calls. I think there's more to go here though.
I'll look to get back in on a dip ( if we get one)!

surely you jest. Nice handle...

Hi AD,
well, tell me your secret! <g> actually, I've been doing okay swing trading since mid-March. April was great, this month not so much...got caught in some longs which I then sat on, and stopped trading. That's what I do when I'm wrong, I stop.

What I SHOULD have done was taken a small loss on those longs... then I wouldn't have lost all those trading opportunities over the past couple of weeks. With options, it's hard to set stops of any kind, at least I haven't really figured it out...do you trade options?

This is really my achilles heel---getting caught/stuck and failing to recognize a change in trend. Then failing to take defensive action.

I want to learn to scalp--it's just a skill I want to acquire. Swing trading is very lucrative but the underlying trend must be there. In choppy markets, I think scalping is the way to go. Plus, it prevents you from being exposed to the market when it turns dramatically and on a dime--which are the kind of markets we're dealing with lately....
best,
Kate

Hi MBP,

I don't have a solid methodology...I look for certain market conditions overall that I think are supportive of what I know how to do.

There are certain stocks that I follow very closely, both technically and fundamentally. I like to be long these stocks when the market is going into a bullish mode. I jump in when the stock is in a strong uptrend (looking at moving averages) add on dips, and stay in as long as I can. It's sort of a medium-term swing trade, although I'll daytrade if my profit is compelling!

This strategy I call 'riding the bull'. It can lead to HUGE profits. It has worked well in the past, but I know I need different strategies for different markets. This is what I'm working on now...

As it is, I often get caught when the trend changes...so I'm working on holding for shorter durations, and discovering a set of indicators that will let me know when to flip to the other side of the trade (or at least get out!)

Kate

tell me about it! <g>

Makes it difficult to put in GTC orders---how to guess the price?
I usually watch the stock and just sell the option when the stock is getting
close to my target, wherever the option happens to be at that point...

I'm open to suggestions about this!

thanks Shasta,

K.

Yes--but I'm trading options--I know what price I want to see with the stock, but where the option is going to price when it gets there is hard to know. For example, the June 130 was at 8 yesterday with AAPL at 134.50, today it's at 7.7 at the same price....

I KNOW I should use GTC orders though, I'm trying to figure this out--- do you have a rule of thumb?

Sorry I know you're busy---just get back to me when u can....


Thanks!

I agree, swing trading is not working at all in these markets! I have to learn to scalp...thanks so much for the tips. I'll experiment with my settings...

thoughts on AAPL & RIMM?? I'm 'swinging' those now, somewhat successfully... Looking for a good place to pop out (missed my best chance first thing this morning...)

thanks Jerry...(;

gotta be fast to keep up with you!



Kate

Bouncing around its 200dma, where would you be looking to buy?

I'm going to try it this month...<g>

Thoughts on AAPL & RIMM? Both closed at new rally highs today against the market (but below their highest levels of the session).

Sorry- can someone please help interpret? At a glance I thought this chart indicated that 5/27 would be a relative high, based on the positioning of the arrow--however it is red, so that indicates down, which we did see today--correct?

The green arrow on 6/2--although lower than the previous arrow,
would indicate an upday? But it will be a lower high, based on the arrow's positioning?

Is this based on Hurst?

Thanks so much....

Kate

QQQQ new rally high 35.19...35.09 was the previous rally high (May 4). Could trigger the stops...and continue the melt up...?

Good morning Ted,
Wow, NICE call on this rally today...<g> Do you think we get follow through tomorrow or will this be a one-day wonder??


Kate

Good morning,
Looks like your cycle chart is playing out nicely. Does that indicate there will be follow through tomorrow?

This rally caught just about everyone by surprise! <g>

Kate

You could use ROTFL to indicate more intense levels of mirth....<g>
or come up with an acronym that incorporates the milk squirt...

Thanks LG, that was very kind of you, and a very spiffy chart it is...<g>

Do you ever look at FA? I really like POT long term so I'm wary of shorting it at all. I'd rather short the dollar! Maybe I'll watch the 95 level for a possible entry long instead...