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Post by crumbdon on Oct 23, 2014 9:05:02 GMT -5
From Twitter: And for a bit of hilarity, AAII bulls (50%) already back to an extreme. Bears (22%) just +1% from an extreme low. Spread at an extreme too
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Post by huh on Oct 23, 2014 9:06:08 GMT -5
SPX & AAPL head tests now complete (slightly higher highs).
Let's see if they can hold intraday supports now.
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Post by huh on Oct 23, 2014 9:07:34 GMT -5
SPX & AAPL head tests now complete (slightly higher highs). Let's see if they can hold intraday supports now. ...or simply continue higher? |
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Post by huh on Oct 23, 2014 9:15:47 GMT -5
Gold getting smacked in the last few minutes.
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Post by clinton on Oct 23, 2014 9:16:39 GMT -5
I think TSCO and CAT like the fact that chinese steel prices are at lows.
Im sure there are other finds enjoying cheap steel too.
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Post by jacksrbtr on Oct 23, 2014 9:18:35 GMT -5
I would love to slap Cramer.............very annoying to say the least......... JMO and BOL........ He's a professional know-it-all. Saw a shot of some guy carrying a sign during a demonstration: "WE NEED TO WATERBOARD OBAMA TO SEE IF HE KNOWS ANYTHING" |
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Post by huh on Oct 23, 2014 9:27:04 GMT -5
QQQ has now hit last week's iH&S target.
SPX is more than 25 points from it's target. But as I mentioned before, that one is showing signs that it may fail.
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Post by huh on Oct 23, 2014 9:38:18 GMT -5
Gold getting smacked in the last few minutes. Silver looks OK for now though. I'd expect SLV to get back up ~16.81 for the gap fill. That should bode well for gold also. Unfortunately that could be a bearish pattern backtest for SLV when it does. |
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Post by huh on Oct 23, 2014 9:40:50 GMT -5
Come on you Londoneers! Our MM's need ya! (well, your money anyway)
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Post by Herceg on Oct 23, 2014 9:48:40 GMT -5
Tough day for me...........tried a short in UA due to PE and got my ass handed to me...........took me three shorts of INFN to make me at a loss of ~ $100 ...........could have been much worse..........
JMO and BOL to all..................
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Post by Herceg on Oct 23, 2014 9:50:54 GMT -5
1955 - 1960 area of resistance..............lets see if she makes it there today or tomorrow......... JMO and BOL.......... I guess it did not want to wait until tomorrow...............lets see if it breaks through.......... JMO and BOL........ |
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Post by walnut on Oct 23, 2014 9:55:38 GMT -5
Glad I flipped my shorts to puts
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Post by huh on Oct 23, 2014 9:56:24 GMT -5
Tough day for me...........tried a short in UA due to PE and got my ass handed to me...........took me three shorts of INFN to make me at a loss of ~ $100 ...........could have been much worse.......... JMO and BOL to all..................  That's an MM-Mulligan and a half in UA. Wow. Best odds for shorts today would be ~11:30 ET. That's when London markets closed. Worked yesterday...but not the day before. But at least stops are well defined then. This could easily keep on squeezing. But this stretch up has really pushed the must hold supports up. For example, SPX's is now ~1946. So plenty of time to short should the breakout fail. |
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Post by walnut on Oct 23, 2014 10:06:50 GMT -5
Tough day for me...........tried a short in UA due to PE and got my ass handed to me...........took me three shorts of INFN to make me at a loss of ~ $100 ...........could have been much worse.......... JMO and BOL to all.................. Don't sweat that one, no biggie, you will make it back this afternoon |
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Post by huh on Oct 23, 2014 10:26:58 GMT -5
Keep an eye on RSX (Russia ETF). A move or close below 20.89 could really upset world markets. Large potential continuation H&S after already falling more than 50% in current downtrend.
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Post by huh on Oct 23, 2014 10:34:36 GMT -5
That's a monster rounded top H&S in LL - zoom out a little to the 2 day chart. Confirmation for that pattern would be under today's LOD of 49.10 (tagged the neckline perfectly with that LOD). Downside for that large pattern is ~20.00. Looking closer, it formed a smaller rounded top on the daily chart. The minimum downside for that pattern is ~45.65. Today's high coincidentally backtested the confirmation of the pattern perfectly. To play it long here would be betting on it squeezing both bearish patterns - which is very possible with that gap down today - but I'd wait for confirmation of the squeeze over 52.75-52.78. This pattern sets-up so perfectly with the FIBs, and parallels (both time and price), that it should play out technically very well. So the next play would be a break of 52.78 to the upside (long), or a break of 49.10 to the downside (49.10). I think it will squeeze eventually, but I'd definitely wait for the confirmation. JMHO That was two chances to short LL ~52.78 (and higher). Today's high was almost (within 12 cents) a 50% retrace of the gap down move. Double-top short term downside target ~49.00. Under 49.00 sets-up the next downside targets to 45.65 (short term) and possibly 20.00 (long term and likely to get a big pop in between). JMHO |
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Post by huh on Oct 23, 2014 10:59:54 GMT -5
AKS downside target 6.15, resistance ~6.95-7.00. AKS higher than I thought it might go, but 7.23 is the 76.4 FIB. Hold over that, and I'm plain wrong. |
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Post by huh on Oct 23, 2014 13:36:10 GMT -5
Still waiting for MSFT to tag the phantom print high of 45.38. Those phantom prints have never failed - and I'll NEVER ignore one again! ... MSFT's 45.38 phantom upside target now complete. (it was the last of them) |
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Post by Herceg on Oct 23, 2014 14:10:20 GMT -5
1955 - 1960 area of resistance..............lets see if she makes it there today or tomorrow......... JMO and BOL.......... I guess it did not want to wait until tomorrow...............lets see if it breaks through.......... JMO and BOL........ 1961.95 and retreated........... |
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Post by huh on Oct 23, 2014 14:17:06 GMT -5
I guess it did not want to wait until tomorrow...............lets see if it breaks through.......... JMO and BOL........ 1961.95 and retreated........... Nice call Herc. I was counting on it!  |
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