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Post by Herceg on Apr 25, 2014 10:48:53 GMT -5
Might have been lucky to get out of that one with a small loss IMO. Looks like it could be the breakout of a 2.5 year consolidating iH&S. Potential to run to 34/35 without batting an eye. I see what you are saying "NOW"..........lol, however since I play such short term based on price, news, charts and L2, I just got in way too early from the get go that I ended up chasing with shorts to move my avg. up.............I hate the loss, but OK for the week so I just need to stop........between the kids, work and the mkt. I have sleep deprivation so my initial judgement by Thursday or Friday is not the clearest......Off to play with the kids now and just leave it alone for today................ BOL to all.............
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Post by huh on Apr 25, 2014 10:50:37 GMT -5
Might have been lucky to get out of that one with a small loss IMO. Looks like it could be the breakout of a 2.5 year consolidating iH&S. Potential to run to 34/35 without batting an eye. I see what you are saying "NOW"..........lol, however since I play such short term based on price, news, charts and L2, I just got in way too early from the get go that I ended up chasing with shorts to move my avg. up.............I hate the loss, but OK for the week so I just need to stop........between the kids, work and the mkt. I have sleep deprivation so my initial judgement by Thursday or Friday is not the clearest......Off to play with the kids now and just leave it alone for today................ BOL to all............. Yeah, if only playing day trades, there should be an awesome short in there somewhere soon, even if only a bull flag consolidation. Fridays are the toughest trading day IMO.
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Post by huh on Apr 25, 2014 11:08:04 GMT -5
... Fridays are the toughest trading day IMO. Probably a great day for someone that trades like Walnut though.
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Post by novie08 on Apr 25, 2014 11:33:05 GMT -5
It's 'cause every Fri. is opex now. Churn, churn, churn.
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Post by huh on Apr 25, 2014 12:05:44 GMT -5
Unless MM's have another OPEX trick up their sleeve AND intend to use it today, SPX should end around 1854-1855. Below 1854 would set-up for an oogly move into Monday morning.
JMHO
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Post by huh on Apr 25, 2014 12:44:09 GMT -5
I read talk of a RS in SPX. If it's there, I don't see it. Neckline would be waaay to sloped. If anything, it's only a bounce within the head IMO.
I DO see however a RS in NDX and DJI, and a triple top in IYT. A possible RS even in IWM, but it only went half as high as would be expected.
With tech coming down onto some of the downside targets - already weeks into their moves - and the indices only now catching up to those, I still wouldn't discount another rally to new SPX highs. And I still believe banks could be the leader. Also, notice that for quite some time AAPL only falls while the market rallies. I still believe AAPL has a date with the 480's support. That could also mean a market rally.
But more downside first. Some of the bearish patterns in these tech names I've been showing are going to have hit those targets in order to find some support. The rigged indices will likely continue to fall as those names bottom - just as the indices rose while these names topped, & only started down after 2/3rd of the down move in these names were already complete.
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Post by novie08 on Apr 25, 2014 18:17:28 GMT -5
Listened to a vid of Grant Williams (author of Things That Make You Go Hmmm newsletter)yesterday. He says probably 20% correction here due to more taper talk; then they announce more printing and more upside for a few months. FWIW.
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Post by maxi on Apr 26, 2014 19:29:05 GMT -5
I read talk of a RS in SPX. If it's there, I don't see it. Neckline would be waaay to sloped. If anything, it's only a bounce within the head IMO. I DO see however a RS in NDX and DJI, and a triple top in IYT. A possible RS even in IWM, but it only went half as high as would be expected. With tech coming down onto some of the downside targets - already weeks into their moves - and the indices only now catching up to those, I still wouldn't discount another rally to new SPX highs. And I still believe banks could be the leader. Also, notice that for quite some time AAPL only falls while the market rallies. I still believe AAPL has a date with the 480's support. That could also mean a market rally. But more downside first. Some of the bearish patterns in these tech names I've been showing are going to have hit those targets in order to find some support. The rigged indices will likely continue to fall as those names bottom - just as the indices rose while these names topped, & only started down after 2/3rd of the down move in these names were already complete. Please pardon my constant ignorance BUT what the hell is an RS? OKQY i did a search and came up with Relative Strength. Is that what you meant? that doesn't seem to fit with the sentence either.... Okay is it Reversal Spike? Am I getting warmer?
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Post by jacksrbtr on Apr 26, 2014 20:20:14 GMT -5
I read talk of a RS in SPX. If it's there, I don't see it. Neckline would be waaay to sloped. If anything, it's only a bounce within the head IMO. I DO see however a RS in NDX and DJI, and a triple top in IYT. A possible RS even in IWM, but it only went half as high as would be expected. With tech coming down onto some of the downside targets - already weeks into their moves - and the indices only now catching up to those, I still wouldn't discount another rally to new SPX highs. And I still believe banks could be the leader. Also, notice that for quite some time AAPL only falls while the market rallies. I still believe AAPL has a date with the 480's support. That could also mean a market rally. But more downside first. Some of the bearish patterns in these tech names I've been showing are going to have hit those targets in order to find some support. The rigged indices will likely continue to fall as those names bottom - just as the indices rose while these names topped, & only started down after 2/3rd of the down move in these names were already complete. Please pardon my constant ignorance BUT what the hell is an RS? OKQY i did a search and came up with Relative Strength. Is that what you meant? that doesn't seem to fit with the sentence either.... Okay is it Reversal Spike? Am I getting warmer? Rt shoulder I think(?)
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Post by maxi on Apr 26, 2014 21:16:45 GMT -5
Please pardon my constant ignorance BUT what the hell is an RS? OKQY i did a search and came up with Relative Strength. Is that what you meant? that doesn't seem to fit with the sentence either.... Okay is it Reversal Spike? Am I getting warmer? Rt shoulder I think(?) Yep that's got to be it! LOL! Thanks Jack!
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Post by huh on Apr 27, 2014 9:10:53 GMT -5
I read talk of a RS in SPX. If it's there, I don't see it. Neckline would be waaay to sloped. If anything, it's only a bounce within the head IMO. I DO see however a RS in NDX and DJI, and a triple top in IYT. A possible RS even in IWM, but it only went half as high as would be expected. With tech coming down onto some of the downside targets - already weeks into their moves - and the indices only now catching up to those, I still wouldn't discount another rally to new SPX highs. And I still believe banks could be the leader. Also, notice that for quite some time AAPL only falls while the market rallies. I still believe AAPL has a date with the 480's support. That could also mean a market rally. But more downside first. Some of the bearish patterns in these tech names I've been showing are going to have hit those targets in order to find some support. The rigged indices will likely continue to fall as those names bottom - just as the indices rose while these names topped, & only started down after 2/3rd of the down move in these names were already complete. Please pardon my constant ignorance BUT what the hell is an RS? OKQY i did a search and came up with Relative Strength. Is that what you meant? that doesn't seem to fit with the sentence either.... Okay is it Reversal Spike? Am I getting warmer? RS in the context of a neckline and/or head (as in this case) refers to Right Shoulder of a Head & Shoulders Pattern or an Inverse Head & Shoulders. RS in the context of stock shares being divided would be a Reverse Split. RS in the context of a specific stock would refer to Reliance Steel & Aluminum Co. RS in the context of comparing a stock to the overall market would refer to Relative Strength. There are others, but I would never refer to a Reversal Spike as simply RS. That would be confusing. If you like, I could send an electronic version of the Secret Decoder Ring I use. But I'll warn you up front, it always comes up with the same response: "Be Sure To Drink Your Ovaltine". (your point taken & appreciated)
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Post by huh on Apr 27, 2014 9:27:39 GMT -5
It's funny - there's someone on ST* that always uses the abbreviation "RS" and they are not referring to any of these I mentioned, or any of the other references I've seen it used for. I never have figured out what they are referring to.
*And BTW the above ST refers to StockTwits (not Short Term, Street, Sensata Technologies Holding NV or SPS Technologies Holding, Stop, Same Time, Subject To, Stock Tripled, Standard Time, Special Training, Screening Tool, Seagate Technology, Support Technical, Silly Tweet, Stress Tests, Sobering Thought, Short Time, Sales Tax, State, Status, or any other possible investing related abbreviations)
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Post by huh on Apr 27, 2014 9:34:39 GMT -5
MM, or MM's -
Generally refers to Market Mover, or Market Manipulator. Includes any person, company or algorithm that has the ability to move the market, a portion of the market, or a stock within the market, in a specific direction or to a specific price point. This includes, but is not limited to, large banking institutions, HFT's (High Frequency Traders), Hedge Funds, the Fed, our own Clinton, the Gov, Icahn, News Manipulators, etc.
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Post by maxi on Apr 27, 2014 9:46:07 GMT -5
MM, or MM's - Generally refers to Market Mover, or Market Manipulator. Includes any person, company or algorithm that has the ability to move the market, a portion of the market, or a stock within the market, in a specific direction or to a specific price point. This includes, but is not limited to, large banking institutions, HFT's (High Frequency Traders), Hedge Funds, the Fed, our own Clinton, the Gov, Icahn, News Manipulators, etc. MM refers to Main Man which pretty much encompasses your above list...
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Post by jacksrbtr on Apr 27, 2014 11:27:42 GMT -5
MM, or MM's - Generally refers to Market Mover, or Market Manipulator. Includes any person, company or algorithm that has the ability to move the market, a portion of the market, or a stock within the market, in a specific direction or to a specific price point. This includes, but is not limited to, large banking institutions, HFT's (High Frequency Traders), Hedge Funds, the Fed, our own Clinton, the Gov, Icahn, News Manipulators, etc. MM refers to Main Man which pretty much encompasses your above list... Frankly if I was an M&M and one of that commercial's hot chicks were gonna eat me, I think I'd let her.
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