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21,520,101 Views | 223293 Replies | Last: 19 min ago by Red Pear Luke (BCS)
oldarmy1
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AG
BTW- i think its criminal for the talking head "experts" who pumped up Facebook causing it to spike 20 dollars so they could sell into the hype. Every one of them pounding the table saying its a huge buy need to have investigations on their trading activity in the days following.

Almost as embarrassing as Boone Pickens saying oil had hit its lows only to sell all of his oil holdings 4 days later.
Furlock Bones
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quote:
BTW- i think its criminal for the talking head "experts" who pumped up Facebook causing it to spike 20 dollars so they could sell into the hype. Every one of them pounding the table saying its a huge buy need to have investigations on their trading activity in the days following.

Almost as embarrassing as Boone Pickens saying oil had hit its lows only to sell all of his oil holdings 4 days later.
agreed.
oldarmy1
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quote:
Compared to the rest of the world, our futures are holding up really well. We should be down a lot further.


We have held support early. Big buyers at the open. Bulls last stand...
jh0400
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To whom are you referring? CNBC employees can't own stocks, and sell-side analysts can't own the stocks that they cover.
FriscoKid
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Yeah, that's some strong support.
FriscoKid
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To whom are you referring? CNBC employees can't own stocks, and sell-side analysts can't own the stocks that they cover.


Um
FriscoKid
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Why would big money buy right here? I don't understand the reasoning.
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FriscoKid
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Unreal. We are positive for the day.
FriscoKid
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I understand the simple reason, but why buy large amounts here? Do they have so much invested that they are trying to drive the prices higher?
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oldarmy1
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quote:
quote:
Unreal. We are positive for the day.
But I thought the lines said we were going down?

Or was that just the 47.5 day line? And the 67 3/4ths day line had broken the underlying volume support and we double topped with a camel to open up?


Meanwhile the major support line held and a pure bounce off of it was right there as evidenced by spotting the huge lot sizes.

Me thinks you are missing the point. And Frisco was making a short trade at the close yesterday. My only comment last night was that a buy at those low support levels still is the favored trade FOR NOW. I also said that he should be able to close out that trade on early trade action which, if he did premarket, he made a decent trade because premarket futures were down over 200 points.

Lastly, just remember your post Buffalo. I'm talking trend and you crow about a daily move that is inconsequential if you are a buy and hold forever investor. We WILL go lower before we see anything close to new highs in the macro markets.
jh0400
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I'm still hoping someone will address the conspiracy to pump FB. I love a good conspiracy theory.
FriscoKid
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I'm not worried about my trade at all. If you weren't such a **** maybe you could learn something and make some money.

And, just for you I will spike the football. I'm up over 30% for the year. How you doing?
FriscoKid
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No, I'm still in and I love it.
Furlock Bones
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I'm not worried about my trade at all. If you weren't such a **** maybe you could learn something and make some money.

And, just for you I will spike the football. I'm up over 30% for the year. How you doing?
it's better to just flag his post for removal than to even respond.
FDT 1999
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We WILL go lower before we see anything close to new highs in the macro markets.
Oldarmy1, what do you use to identify macro trends in the market (both bull and bear)? For some of us who aren't trading and are just identifying when a market turns for 401(k) / ira purposes, what indicators do you use? I'm just charting the S&P against a 300 day EMA and when it breaks below like it did in August, I'll move to the sidelines or short the market (SH or SDS) for the next 12-18 mos. or until it goes back above the EMA or establishes a new high. I also look at the MACD a little.

Are there other things you look for? I read where you mentioned the S&P topped 2-3 times without breaking through the 2120 level roughly. Are there any other macro indicators that help you identify bull or bear markets starting or coming to an end?
El Chupacabra
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quote:
I'm not worried about my trade at all. If you weren't such a **** maybe you could learn something and make some money.

And, just for you I will spike the football. I'm up over 30% for the year. How you doing?

Overall, all of your accounts, you're up 30% so far?
Football&Finance
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And, just for you I will spike the football. I'm up over 30% for the year. How you doing?

Careful now, it's Feb 9 and the market has traded in some strong trends and VIX has stayed b/w 20-25, pretty good market for day trading.

oldarmy1
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quote:
quote:
We WILL go lower before we see anything close to new highs in the macro markets.
Oldarmy1, what do you use to identify macro trends in the market (both bull and bear)? For some of us who aren't trading and are just identifying when a market turns for 401(k) / ira purposes, what indicators do you use? I'm just charting the S&P against a 300 day EMA and when it breaks below like it did in August, I'll move to the sidelines or short the market (SH or SDS) for the next 12-18 mos. or until it goes back above the EMA or establishes a new high. I also look at the MACD a little.

Are there other things you look for? I read where you mentioned the S&P topped 2-3 times without breaking through the 2120 level roughly. Are there any other macro indicators that help you identify bull or bear markets starting or coming to an end?


I have 57 variables involved. Each one weighted based on market levels. Technicals obviously are weighted above most. Institutional activity is #1. A market maker algorhythm to identify largest activity, Lot volumes as described earlier, international markets, banking/financials data, so much more.
Buy/Hold/Sale ratings across the top 200 analysts, etc. A lot of this obviously changes periodically and frequent, sometimes daily, refresh occurs.

When all of the variables I study and have formulated come in line a pure signal occurs. My last apprentice had the idea of writing a book and he would take that on. He will begin posting here once school is out. He has become a strangle option expert.

I'm reluctant to fully pull back the Kimono because any mass application of success generally falls prey to further manipulation by the institutions.
FriscoKid
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Past results are no guarantee of future performance.
FriscoKid
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27.4% total in my only trading account.
Dan Scott
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Pretty exciting this choppy trading. It looks like it's created a wedge pattern that is about to breakout with higher lows and lower highs. Which way it breaks I don't know.
FriscoKid
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Pretty clear flag forming.
FriscoKid
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It should break in the continuation of initial movement.
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FriscoKid
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Lower low on the day chart.
Dan Scott
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Once 1840 breaks, it's over in my opinion.

Gotta get back to work. good luck everybody
Dan Scott
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Boom! Gapped down 2 pts
FriscoKid
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Sure looks like it broke. Bulls might be done.
Dan Scott
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It got to break prior day low to kill bulls. I think that was 1828 like Jake mentioned. And with oil crashing, it's going to happen. Would like to see TLT pick up some steam though to be the nail in the head
FriscoKid
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And like OA said, the real fight is for 1820.

Edit. 1812 (Jan lows)
FriscoKid
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Pretty good day for a day trader. We need to break out of this channel to get the selling started.


edit...haha or break out higher for an irrational bear rally
Cronus
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Everyone should be watching the indexes right now... Consolidation is visible on the daily, hourly, 30 min and 15 min time frames... this usually leads to really sharp moves. I would bet it goes to the downside. I am watching for the break at 1830 with confirmation at 1820. This could be a 200 point move to the downside... definitely dont want to be long here.
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