Yes, small venders clearly prefer SQ. Hell, I had an anesthesiologist swipe my AmEx with it right before minor surgery (which was a little disconcerting).
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Last: 4 min ago by Heineken-Ashi
To add on, Motley Fool has been talking highly on SQ recently. There's a lot of good vibes coming from this stock, I picked a few weeks ago and it's been one of my bigger winners.
I'm swing trading 50 percent of my holdings but keeping the rest as a long term trade. I like their future, and they are talking a lot about growing their international market.
I'm swing trading 50 percent of my holdings but keeping the rest as a long term trade. I like their future, and they are talking a lot about growing their international market.
Its a "planted" net free stock so I haven't said much since then. But I do agree with your technician that it will double again. It's broken free from resistance and on its way.pfo said:
oldarmy1 got me into the technicals ,so, since I am an old, I hired a technician to do this for me so I can play and be on this thread and maybe make better decisions.
TWTR is a stock oldarmy1 was working awhile back but I haven't seen much chatter on it lately here. Cramer pumped it last night along with SQ which he really pumped.
So I asked my technical guy about them and he says "on a point and figure chart, TWTR is a double. Something you don't see very often". I don't even know what a point and figure chart is but doubles get me excited! He also like SQ technically. So I bought both. Both are very strong in today's down market, I assume, because Cramer pumped them. But both have really been showing relative strength this year.
Any thoughts?
What direction did it break yesterday? It broke to the down side. Yes futures were green early but go with the initial break yesterday because its highly probable that is where we will head next day coming off of the very clear resistance line.oldarmy1 said:
In the age of computer program trading the charts become almost exact. Sideways narrowing wedge. Note today we are below yesterdays highs but above yesterdays lows. I would be inclined to trade the direction it breaks.
Here's today's DOW - It doesn't get much easier for technicians to read this chart. Someone go back through posts and find my pre-election chart. This converging wedge will break and it will result in a HUGE directional move. Keep your powder dry and be ready.
Early markets bouncing right off the lower convergence line this morning. We're running out of range room. Break this sucker one way or the other! Friday news cycle catalyst?
on top of that stew you've also got quad witching day so tons of volume will be going offoldarmy1 said:
Early markets bouncing right off the lower convergence line this morning. We're running out of range room. Break this sucker one way or the other! Friday news cycle catalyst?
It's going to be glorius. Fireworks aplenty.aggiemetal said:on top of that stew you've also got quad witching day so tons of volume will be going offoldarmy1 said:
Early markets bouncing right off the lower convergence line this morning. We're running out of range room. Break this sucker one way or the other! Friday news cycle catalyst?
Jeff the bounce off that lower trendline now has us watching for how much distance can be made back towards the upper convergence. Lot of momentum on the daily charts. For spread options buying calls on the support redline and then now getting in your puts. Thats a huge "thank you" to the markets obeying the ranges.
OA, thank you for your insights on this thread. I've been following since day 1. What are your thoughts on SN this morning going forward? Great buying opportunity? TIA
OA, what's going on with SN?
CC beat me to it.
Range stable. Challenged the top and now will seek support bouncing off back down. Really nothing to see on these except accumulation when at lower end.what say you said:
OA, what's going on with SN?
Here is broader markets pciture. Lot of upside room on the converging channel, right? We bounced exactly off of the trend lower support convergence. Day traders salivate at moments like that. Note we are having an inside yesterdays range trade so far. What does it mean? It means that this is a throw away day for macro trend technicians. Chunk it out the window. We could burst through and THEN its game on or it can get wiped out. 25130 on the DOW would be interesting action. Day traders are selling right here DOW +285 for their round.
OldArmy I think he was asking about SN, you posted SWN. Stock is down 5% when oil is up. Scratching my head here.
SN is testing Feb 2016 lows.
Also, looking at oil is only looking at one side of the story. SN follows nat gas more than oil. SN gets destroyed when nat gas has a bad day/week. I like OA prediction that it will double by next year since eventually nat gas will spike (even if short term) and SN will follow (ever if short term).
Also, looking at oil is only looking at one side of the story. SN follows nat gas more than oil. SN gets destroyed when nat gas has a bad day/week. I like OA prediction that it will double by next year since eventually nat gas will spike (even if short term) and SN will follow (ever if short term).
Come on.....no sophisticated trader is trading a wedge, and I really doubt you are either. They simply don't work most of the time, and the only ones that ever get posted are the ones that worked - and those that did, didnt work because they were following an imaginary line.
You can look at S&P or ES for the same wedge that got broken to the upside and then sold right back down.
You can look at S&P or ES for the same wedge that got broken to the upside and then sold right back down.
Apologies on the SWN versus SN.0708aggie said:
OldArmy I think he was asking about SN, you posted SWN. Stock is down 5% when oil is up. Scratching my head here.
SN obviously retesting support. That is not a short term healthy looking chart due to the retest and the low volume. Where is the interest/support buying? If not a dip and rebound next couple of days then its gonna be a while for any payoff. I'm in it at $2.92 average from accumulation strategy and will let it go through whatever pains it must short term.
Farmersonly.comclaym711 said:
Come on.....no sophisticated trader is trading a wedge, and I really doubt you are either. They simply don't work most of the time, and the only ones that ever get posted are the ones that worked - and those that did, didnt work because they were following an imaginary line.
You can look at S&P or ES for the same wedge that got broken to the upside and then sold right back down.
We're just a bunch of simpletons over here. Rich, yes - but unsophisticated as can be.
I'm sure you have much more sophisticated tools than you are exhibiting on here, and aren't sharing, which makes it seem to others to be much easier than it is. A misrepresentation that will end up in costly lessons, costs that I'm sure you have paid, as have I.
If people can learn these basics then they can go on to learn all of the other variables and tools that can refine and confirm the principles shared. Very difficult to peel the onion layers on a forum. That said, while wedges aren't always precise intersects they certainly are caused by program trading. That in itself is worthy of extremely close attention. The DOW channel has been razor sharp for entry/exit. A trader simply using this has done very well since posting expected sideways action weeks ago - and then noting the wedge over 2 weeks ago.claym711 said:
I'm sure you have much more sophisticated tools than you are exhibiting on here, and aren't sharing, which makes it seem to others to be much easier than it is. A misrepresentation that will end up in costly lessons, costs that I'm sure you have paid, as have I.
And I'll bet you a grub steak that once we break out of the tip of the wedge (who cares if it violates the range during its formation and quickly falls back) that we have a sustained pronounced directional movement to the market highs or market lows that preceded the formation.
SN volume support buying came in for now with a move back above support.
The DOW wedge you shared had 1 trade available after its formation, short. The day it was shortable you were posting about futures being up and were positioned long. It was only after the wedge confirmed short that you called it out. That's my exact point about wedges.
Further the S&P wedge broke by about 50 points. That's 50% upside if you're trading futures and a pretty damn convincing break if you're relying on the wedge, yet it failed. So how far of a break would be a convincing break for you to go long/short?
Further the S&P wedge broke by about 50 points. That's 50% upside if you're trading futures and a pretty damn convincing break if you're relying on the wedge, yet it failed. So how far of a break would be a convincing break for you to go long/short?
Then volume disappeared. There's been 4 range trades off the forming wedge, most discussed on this thread; including the put/call spread just this morning (Thursday).
In fact I find It funny we are speaking about "violating" the wedge if it's meaningless. Fact is that one S&P violation quickly retreating back under the channel was a strong signal opportunity to sell covered calls, buy puts close to the money or exit trades.
That we quickly headed back down channel should be seen as understanding the value.
Happy trading.
In fact I find It funny we are speaking about "violating" the wedge if it's meaningless. Fact is that one S&P violation quickly retreating back under the channel was a strong signal opportunity to sell covered calls, buy puts close to the money or exit trades.
That we quickly headed back down channel should be seen as understanding the value.
Happy trading.
A 50 point breakout is exactly the kind of move that TA traders would long thinking its the big directional move out of a wedge, no? They got crushed.
so long for anticipated fireworks
volatility got crushed and overnight range stayed in value area (previous days volume defined range) ...inside day going nowhere....that was good for my short puts I put on after nice dip this week but not so much for long term action
hopefully Monday gives us some movement, but I fear we are consolidating/balance and eventually headed back up...not a prediction I'm not a tech guy (I've got Randy for that
) and haven't a clue on direction and don't really care to (only time I get in trouble is when I "think" I know something) just my biggest fear is Vol gets sucked out and we're back to the same slow grind, lame opportunity we've had forever (minus a few glorious events for the good kids)
volatility got crushed and overnight range stayed in value area (previous days volume defined range) ...inside day going nowhere....that was good for my short puts I put on after nice dip this week but not so much for long term action
hopefully Monday gives us some movement, but I fear we are consolidating/balance and eventually headed back up...not a prediction I'm not a tech guy (I've got Randy for that
) and haven't a clue on direction and don't really care to (only time I get in trouble is when I "think" I know something) just my biggest fear is Vol gets sucked out and we're back to the same slow grind, lame opportunity we've had forever (minus a few glorious events for the good kids)
McCabe getting fired might be the lynch-pin for the markets. He was gonna go scorched earth if he got taken down. If he names names all heck is going to break loose.
oldarmy1 said:
McCabe getting fired might be the lynch-pin for the markets. He was gonna go scorched earth if he got taken down. If he names names all heck is going to break loose.
I think the real lynch pin will be if Trump fires Mueller. **** will hit the fan.
What about rates on Wednesday? I fear we will begin to make a move up and then a rug pull on something that was clear as day coming
Indeed. We're still within the convergence and the spread options are rocking. Sticking with strategy of keeping a thin trading profile. Covered calls placed on the 2nd bounce wave expire Friday but with some of them now deteriorated below 10 cents I'm taking them off and booking the premium.
To be clear - I am not taking the 200 point down start as a buying opportunity. It would be pure speculation trading.
To be clear - I am not taking the 200 point down start as a buying opportunity. It would be pure speculation trading.
Think I am going to buy some SPY April 20th puts. Don't have a decent feeling in this market...
Rough day. Thanks Facebook.
I bought some "on sale" at 174. Hope for a nice recovery!
DOW is now negative for 2018.
Was about to ask if anyone was adding today
Hard to say"no" at a 7% down due to news of them "collecting information"in 2016..
Not sure how that's even news..
Not sure how that's even news..
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