This is exactly what saved me from early mistakes at the open, I thought we would reclaim SPY 560 today. MACD diff had been waning the last few days but still green. In recent trading, when MACD turns negative (red on my chart), it moves down quickly and for a short period of days. I zoomed in on the day and noticed the 10 min chart MACD was turning negative and jumped into puts. On top of that, RSI showed it had been oversold for a few days now as well. I didn't ride them all the way down but enough to come out comfortably green for the day and took the rest of the day off. I've learned to keep green days green by stepping away.
Stock Markets
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Last: 5 hrs ago by Heineken-Ashi
Holy smokes, 400 plus stars/ likes. Is that some kind of record?khkman22 said:
Not sure if you've run into him on F16 or not, but I almost posted a reference to him as well earlier.
Enjoy this thread if you never venture over to the OB.
Tikkashooter | TexAgs
Stonk related: So to get a sell off like we had in April (retest of 100 day), we need another week or so of blood and 100 day is currently at 525, which could end up being more like 5300 as we continue to march on.
I will buy POWL, SMCI and a couple other Prog and Heine favorites with reckless abandon if we get there. DJT really strong today, but I think I'll wait and see if I can get another dip to 30 ish.
Charismatic Megafauna
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AG
I'll have to learn to use MACD. I primarily use RSI and 8/21 SMAs. 4hr rsi was warm but not showing overbought, it reset before the eod recovery yesterday, nicely reset now but not oversold, so I'm going into tomorrow with an open mind
Dayum. We should get that guy to do DD on a few stock picks.khkman22 said:
Not sure if you've run into him on F16 or not, but I almost posted a reference to him as well earlier.
Enjoy this thread if you never venture over to the OB.
Tikkashooter | TexAgs
Here’s a great big dollop of inconvenient truths on net zero. pic.twitter.com/WY6sOhwoWK
— James Melville 🚜 (@JamesMelville) July 10, 2024
“Give it hell Heinekandle, I’m enjoying it.”
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
RSI is practically useless without something else to indicate what it's trying to say. RSI will give multiple sell signals on the way and buy signals on the way down. Couple with MACD and in you are more informed. Throw on Bollingers or my fav, Keltners, and the picture becomes even more clear. Throw on an ichimoku cloud support and resistance stick out even more. Add MFI to see if money is cycling in or out. And plenty and plenty of others. But never any one of them alone.Charismatic Megafauna said:
I'll have to learn to use MACD. I primarily use RSI and 8/21 SMAs. 4hr rsi was warm but not showing overbought, it reset before the eod recovery yesterday, nicely reset now but not oversold, so I'm going into tomorrow with an open mind
“Give it hell Heinekandle, I’m enjoying it.”
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
It was amazing, except for staph nuking it and bringing it back and nuking it again
Any impact on markets when Biden drops out
I've posted this before, but the ich cloud reversal is a really awesome trading cheat code.
If something looks to put in a top, on any timeframe, you simply use the lagging span of the ich cloud to determine where it is likely to reverse to. Granted, it only works if that top WAS a significant top. I use 21 periods for my settings which are different than the 26 default setting. It was developed by the Japanese. I like to use fib numbers for most of my indicators.
You simply take what you think is the top, find that top on the lagging span 21 periods back, trace that period up or down to where the candle is, and that's your reversal target, with expectation that it has to happen in the next 21 periods. If it doesn't, it likely wasn't a top or it was just a plain L. I find it works around 60-65% of the time.
Let's look at NFLX weekly before earnings..
Now let's see what earnings did..
Gorgeous.
And as a bonus you can look one level down for the previous top with target $467.65. And we still have 5 weeks to get there. Though a new high likely invalidated its potential, I count it as an un-printed high probability target in a potential downward continuation.
Watch youtube videos about how people use indicators. Watch trading seminars and conference keynote speakers. I learned this from a FOREX trader in Japan. and it's just ONE trick with the ich cloud.
If something looks to put in a top, on any timeframe, you simply use the lagging span of the ich cloud to determine where it is likely to reverse to. Granted, it only works if that top WAS a significant top. I use 21 periods for my settings which are different than the 26 default setting. It was developed by the Japanese. I like to use fib numbers for most of my indicators.
You simply take what you think is the top, find that top on the lagging span 21 periods back, trace that period up or down to where the candle is, and that's your reversal target, with expectation that it has to happen in the next 21 periods. If it doesn't, it likely wasn't a top or it was just a plain L. I find it works around 60-65% of the time.
Let's look at NFLX weekly before earnings..
Now let's see what earnings did..
Gorgeous.
And as a bonus you can look one level down for the previous top with target $467.65. And we still have 5 weeks to get there. Though a new high likely invalidated its potential, I count it as an un-printed high probability target in a potential downward continuation.
Watch youtube videos about how people use indicators. Watch trading seminars and conference keynote speakers. I learned this from a FOREX trader in Japan. and it's just ONE trick with the ich cloud.
“Give it hell Heinekandle, I’m enjoying it.”
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
Don't do that man. You know that we both approach charts from our different preferred discipline. I don't prefer EW and it's your preferred method, but I don't disrespect you or your opinions. It's actually the opposite. I value the fact that we interpret charts from different angles because it can point out something that I didn't consider. We could have a long exchange trying to prove which method is better, but I don't want to do that because it's stupid. There are no absolutes when it comes to the market and the more information people have the better it is for them to make an educated decision. FTR, I can read RSI by itself and tell you a stock is going to reverse in the near future, but you can't predict time the exact time. If one knows how to really interpret RSI, then they can see it because it gives it in plain sight before hand. You are correct in saying that it's better paired with other indicators, and that's why I use them for my timing.Heineken-Ashi said:RSI is practically useless without something else to indicate what it's trying to say. RSI will give multiple sell signals on the way and buy signals on the way down. Couple with MACD and in you are more informed. Throw on Bollingers or my fav, Keltners, and the picture becomes even more clear. Throw on an ichimoku cloud support and resistance stick out even more. Add MFI to see if money is cycling in or out. And plenty and plenty of others. But never any one of them alone.Charismatic Megafauna said:
I'll have to learn to use MACD. I primarily use RSI and 8/21 SMAs. 4hr rsi was warm but not showing overbought, it reset before the eod recovery yesterday, nicely reset now but not oversold, so I'm going into tomorrow with an open mind
That's all I was saying homie. RSI is my favorite and is the first sign for signaling entries. But it can't work alone. not once did I knock it. I think you are hearing something I didn't say.Quote:
You are correct in saying that it's better paired with other indicators, and that's why I use them for my timing.
“Give it hell Heinekandle, I’m enjoying it.”
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
Can't we just get along guys? lol
New Deadpool movie 8 days away!
New Deadpool movie 8 days away!
Terrifying.khkman22 said:
Not sure if you've run into him on F16 or not, but I almost posted a reference to him as well earlier.
Enjoy this thread if you never venture over to the OB.
Tikkashooter | TexAgs
Also Benders AR thread is awesome
ProgN and I are friends. But there's something remarkable about him in that he feels a duty in helping everyone here. I take no offense to him calling out something he thinks is misguiding to this thread. I think he misunderstood my point, but he doesn't care if its friend or foe and will speak up when he feels convicted. People like that are rare and we're lucky to have him.Brewmaster said:
Can't we just get along guys? lol
New Deadpool movie 8 days away!
“Give it hell Heinekandle, I’m enjoying it.”
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
We're good, and I probably got my feathers ruffled for nothing. I've had a rough few days. Apologies brother.Heineken-Ashi said:That's all I was saying homie. RSI is my favorite and is the first sign for signaling entries. But it can't work alone. not once did I knock it. I think you are hearing something I didn't say.Quote:
You are correct in saying that it's better paired with other indicators, and that's why I use them for my timing.
lucky to have you both here amigo. Just yanking y'all's chain.
I've talked to Prog and Farmer both privately about a personal issue, marriage related. Both helped me immensely, even though I'd never met both before in real life. It was next level Aggie network stuff.
I've talked to Prog and Farmer both privately about a personal issue, marriage related. Both helped me immensely, even though I'd never met both before in real life. It was next level Aggie network stuff.
Brewmaster said:
lucky to have you both here amigo. Just yanking y'all's chain.
I've talked to Prog and Farmer both privately about a personal issue, marriage related. Both helped me immensely, even though I'd never met both before in real life. It was next level Aggie network stuff.
Been wondering how Farmer and family are doing. Would love to hear his perspective on O&G now as well.
His queen is doing better, but won't speak for him. I will pass your post on to him though and if he chooses to reply, then he will. Although I've never met him irl, he's a good man an friend.FishrCoAg said:Brewmaster said:
lucky to have you both here amigo. Just yanking y'all's chain.
I've talked to Prog and Farmer both privately about a personal issue, marriage related. Both helped me immensely, even though I'd never met both before in real life. It was next level Aggie network stuff.
Been wondering how Farmer and family are doing. Would love to hear his perspective on O&G now as well.
ProgN said:His queen is doing better, but won't speak for him. I will pass your post on to him though and if he chooses to reply, then he will. Although I've never met him irl, he's a good man an friend.FishrCoAg said:Brewmaster said:
lucky to have you both here amigo. Just yanking y'all's chain.
I've talked to Prog and Farmer both privately about a personal issue, marriage related. Both helped me immensely, even though I'd never met both before in real life. It was next level Aggie network stuff.
Been wondering how Farmer and family are doing. Would love to hear his perspective on O&G now as well.
Thanks
Looking deeper at SMCI tonight, I think my primary count is $735-$740 and then a run back to between $1,100-$1,225 again.
“Give it hell Heinekandle, I’m enjoying it.”
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
Yall saw my chart earlier today that was more bearish. It's still possible, so don't get me wrong. But what I posted above looks to me to be equally probable based on the structure taken to date. The only truly impulsive move is the downward one right now. So unfortunately, both counts work. I'll throw out that $870 will be the important pivot zone. Above that and this below chart really gains steam. Below that, and pressure can remain down as the days and weeks go on.Heineken-Ashi said:
Looking deeper at SMCI tonight, I think my primary count is $735-$740 and then a run back to between $1,100-$1,225 again.
When Elliott wave patterns start to break down into series of 3-wave segments, that tells you that something more complicated than a standard path is likely happening. Might be a triangle of some sort, or a combo correction. This recent move down can either be a finishing move that will bottom and engage one more upward push, or it could be merely the start of a much deeper, larger impulsive downward structure. I want to be clear, that when multiple scenarios present as highly possible, it's best to NOT trade. It shows very clear struggle from players on both sides with neither able to take control. Jumping in means you are throwing your money into a fight that either team can win. You might win. But it's risky. It's best to throw your money towards the fights where there is a clear favorite. That said, if $740 range holds, you have an awesome R/R potential with the below chart.
“Give it hell Heinekandle, I’m enjoying it.”
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
Crwd is gonna get smoked today.
El Chupacabra said:
Crwd is gonna get smoked today.
It's got me stuck in Eugene Airport right now. Seriously considering renting a car to drive the 20 hours home to Denver.
That's a beautiful drive. Do it.
Already down 13%
Sold a 7/19 280 Put for CRWD for 4.10...see if I can pay for dinner tonightEl Chupacabra said:
Crwd is gonna get smoked today.
I just bought tickets for my son and me for Deadpool & Wolverine on Saturday 7/26 at the 3D HD show. He's going to be so pumped. 
And already closed it out at 1.50, nice $260 gain in 10 mingougler08 said:Sold a 7/19 280 Put for CRWD for 4.10...see if I can pay for dinner tonightEl Chupacabra said:
Crwd is gonna get smoked today.
Charismatic Megafauna
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AG
You shaking my faith in rsi made me hesitate and miss 2 great trades this morning
Still love me some Heinie
Still love me some Heinie
QQQ $481 Call for today..
Update: not looking good.
Update: not looking good.
El Chupacabra said:
Crwd is gonna get smoked today.
SPY is in danger of just moving sideways today. Lots of earnings next week and just waiting in anticipation.
Charismatic Megafauna
Joined:
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Posts:
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How long do you want to ignore this user?
AG
Also opex and digesting 2 big days
Charismatic Megafauna
Joined:
May 22, 2017
Posts:
7,938
How long do you want to ignore this user?
AG
Schwab is fubar this morning.
"Me not know, me not tell, me push button and run like hell."
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