I'm in late. Almost did it yesterday when we got green. 188.5 puts on SPY feb5. Don't feel great about it.

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I follow both but the DOW volume gives a much purer signal of institutional action.

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Ok I just use NYSE, NASDAQ volume and emini volume.

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For a new trader it's much easier to chart the DOW. I'm keeping the shop talk as basic as possible in the beginning few months. A new trader would be wise to trade very infrequently and only on macro opportunities. The DOW and S&P will give the easiest "read" on these but I certainly am not suggesting being blind to the others.

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I'm in late. Almost did it yesterday when we got green. 188.5 puts on SPY feb5. Don't feel great about it.

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If you are wanting a leveraged bet on the S&P, you should consider the emini future. More liquid, no time decay and no weekly expiration. I trade them frequently.

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I endorse this!

Michael Kors blows out earnings! Stock up 21% (although I'm just up 10%). Score one for value investors that buy great companies with great balance sheets when they are on sale.

I know this thread is much more trading oriented but is it ok if we more traditional investors participate?

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I'm in late. Almost did it yesterday when we got green. 188.5 puts on SPY feb5. Don't feel great about it.

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If you are wanting a leveraged bet on the S&P, you should consider the emini future. More liquid, no time decay and no weekly expiration. I trade them frequently.

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I've never traded futures. Looks like 100:1 leverage??? though with lower commissions than options.

anything else? is it a lot more like a forex account?

Nice candle with volume breaking through the lows of the day. here we go. spread just tightened up too.

What does that mean to the novice?

As a beginner to looking at the market in a more focused manner, what are some of the best vehicles you guys use in a time like this when you are following a channel and see a chance to catch the market just before it drops or rebounds?

I have mainly invested in stocks or indexes on a more long term basis based on what I am most familiar with or see as a good investment value due to some of the basic metrics. I'm on the younger side and have some investment funds that I have portioned aside to use in times like this, and I was just wondering what some of you experienced guys suggest as a simple way to get in and learn some more of this side of trading? I've pretty much followed similar principles to those from the Intelligent Investor for most of my trading days, but I get a little lost when trying to consume the huge waterfall of other data out there to take in and use.

One of my bets this week is XLE 56.00 2-19 puts; in addition to oil prices falling, a lot of companies tracked by the fund are reporting this week and the results overall have been pretty negative so far. Thinking about selling today, but COP reports tomorrow and things could get ugly if there is any further speculation on their dividend like we saw a couple of weeks ago.

ETA: Crap, never mind I am out; forgot about a limit order I put in this morning that seemed like a stretch at the time.

I'm out. 28% gain.

turns out I was right this time and this is the way I read the tea leaves at the time...

It looked like we had some pretty good support and then it was broken with a lot of selling in a short time period.

I probably just got lucky, but that's what I was thinking at the time when I saw us set new lows. It turned out to be the right call.

And BTW, I am very much a novice too. I did make the mistake of not seeing that it was way oversold at that point with other technical indicators (stochastics). Would love to know what any experts thought about my analysis.

Anyone here use Elliot Wave to trade? I found it is very useful but also so complicated.
I'm holding RDSA at 41.4 and aapl at 96. I was hoping aapl can get to 102-104 to complete a full ABCDE divergence triangle but look like downtrend is too strong. SL is at 92. Lesson learns here if hits stop loss: Be patient, only sell high, and never go against the trend.

If people are in Houston, I'd be happy to do a technical analysis seminar. Start slowly and then move to more complex CMT level stuff.

I have an admin copy of Crystall Ball, so it'll make a group setting easy.

What platforms are being used to track the information being gathered? I don't see these research tools in my fidelity account.

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What platforms are being used to track the information being gathered? I don't see these research tools in my fidelity account.

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https://www.lightspeed.com/technology/trading-software/

Tomorrow, next week, next month, next year, cannot be predicted 100% of the time. This is the danger of leverage.

Nothing is clear yet. Right now look at the repeating waves from recent lows back to the previous low recovery. We have been basing above the low spike much like last time. Look at the big drop back then after the big v bottom bounce. It traded down below the initial bounce high consolidating sideways then popped to a new high above that reversal "V" bottom, created a 2nd "V" bottom (with 400+ point swings!), again higher than the lows and then climbed.

Anyone telling you exactly how it plays out is fibbing/guessing on the day to day basis. Macro trend is another story. We lose these lows and its off to the next leg down and you can forget everything about the short term (6 month) channel trend cause we are gonna smash it to the down side.

the retrace is done. You ready for new lows?

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the retrace is done. You ready for new lows?

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Can't say it's done or not. Look at that intraday volatility. I've still got the 50% buys from the low reversal signal day. I was able to buy back Covered Call options on weakness, as stocks came back down within the strike price sold.

To the poster who said that my strike price would get walked over - this is why you do it this way coming off of a reversal low. Always capitulation that allows a good opportunity to capitalize on the time value decay plus stocks consolidating downward.

DOW +112

Channel trend still intact. As stated previously last few days have been consolidations day above lows since breakout to the upside. I called them "throw away days" because they are meaningless in directional confirmation, other than being positive for probable continuation upward.

RDSA shot up to 43 and may test 45-46 resistance level. Aapl back to 96.x and started the long wave iii, may see 104 resistance. I will be big seller there. My target is to buy AAPL is at 82.x when they finish the 8 waves cycle since 2013

Took half profit for rdsa at 44.8 for a quick 8% gain. Wait for it retrace to enter again. Keeping the order half for the long run.
Aapl still in consolidation, a candle close above 97.x will head to 104 area (good sell area). A break below 92 will go down to 87 and 82-83 ( a good buy area). Best strategy now is to wait until it break, then sell or buy at the break point when price retraces back to that level. My guess is it will go up first before head down to 82 area.

-200 DJIA

Today appears to be the left shoulder. Should we expect to test the 1600 resistance?

Maybe a retest but thus far it's more sideways movement no different than anything since the reversal. Day traders would be trading in no mans land. Unless they are the the super pro's working the 5 minute charts most are gonna lose. Only thing I've done is buy back the covered call options for the 2nd time. About the best way to capitalize on the daily capitulation on sideways action IMO.

But it did this time.

I think we take out the Wednesday lows. Beyond that I don't know. That's my play at least.

1890 on the S&P is offering some strong resistance today.