36 unique view(s)
Discuss current stocks, trades, and anything else on a day-to-day basis here...
pftq (Official) says in Stocks Daily Discussion...
*not sure
wd1040 (Guest) says in Stocks Daily Discussion...
lol wow we bled 1.4% again today... Going short on UNG tomorrow morning on hammer, possibly an evening star. Will post chart after I get home...
ItsMeexD (Guest) says in Stocks Daily Discussion...
hey guys we are officially oversold.
$NYMO McClellan Oscillator = -304.69.
-250 or below means oversold
remember oversold can get more oversold. does NOT mean to buy now, only means not to start NEW shorts. keep current shorts and trail
http://stockcharts.com/h-sc/ui?s=$NYMO&p=D&yr=2&mn=6&dy=0&id=p34453408654&a=260035163
wd1040 (Guest) says in Stocks Daily Discussion...
Post a pic of your charts... let me just see...
Yeah, the breakdown is in motion. On a LT chart, SPX target is at 1346 before confluence of 2 fibs. And oversold RSI.
Let's look for a reversal signal... but do remember that equities have been uncorrelated with anything else for the past month or so. I'm going to see if HA flattens out with Friday's assumed holiday rally start... looking for that dead and blue HA candle.
Yeah, the breakdown is in motion. On a LT chart, SPX target is at 1346 before confluence of 2 fibs. And oversold RSI.
Let's look for a reversal signal... but do remember that equities have been uncorrelated with anything else for the past month or so. I'm going to see if HA flattens out with Friday's assumed holiday rally start... looking for that dead and blue HA candle.
pftq (Official) says in Stocks Daily Discussion...
Remember holiday rally is just a statistic and 80% hitrate. Doesn't have to happen. Should only consider it if other indicators confirm it.
wd1040 (Guest) says in Stocks Daily Discussion...
hmm... so in the long run (months) we are still net bearish... selling rallies?
wd1040 (Guest) says in Stocks Daily Discussion...
This is for nat gas, playing candlesticks patterns only. Don't expected a sustained drop, just a break lower for tomorrow. ach we don't have enough cash... anyone want to put in their opinion?
pftq (Official) says in Stocks Daily Discussion...
Rsi will not trigger until we hit a market bottom.
ItsMeexD (Guest) says in Stocks Daily Discussion...
lets see if this works
ItsMeexD (Guest) says in Stocks Daily Discussion...
best oversold RSI 2 play for tomorrow: XLU. basically 8 consecutive days red. RSI 2 reading is 0.50.next in line is INTC, will be definitely scoping this tomorrow also.
pftq (Official) says in Stocks Daily Discussion...
Gotta run it through Tech Trader. Both are flagged as sell-offs and not valid for RSI2 plays (it might still bounce but not due to RSI2).
I would look for overbought bounces to short instead in these market conditions.
I would look for overbought bounces to short instead in these market conditions.
pftq (Official) says in Stocks Daily Discussion...
Comprehensive strategy added more short on SPY this past Friday. I was out of town all weekend so I only just saw it. Getting interesting since it seems to be coming out of the gate quite strongly (first live trade in October) and coincides with the onslaught of recent trendline short signals.
pftq (Official) says in Stocks Daily Discussion...
Every short signal I've been getting the last couple weeks basically played out. Need to really take myself out of the picture and stop interfering with the trades. Updated charts on the ones I posted before:
IWM Trendline Break from Oct.26
IWO Trendline Break from Oct.26
SPY Short via Comprehensive Strat from Oct.25
Just a ton of more trendline short signals today on the scans. As usual, have to watch the close near end of day to confirm breaks, but just very disappointed at the moment. Probably going to just stay on the sidelines until I have more time to actually watch the markets (lot of midterms + projects these few weeks until Thanksgiving).
IWM Trendline Break from Oct.26
IWO Trendline Break from Oct.26
SPY Short via Comprehensive Strat from Oct.25
Just a ton of more trendline short signals today on the scans. As usual, have to watch the close near end of day to confirm breaks, but just very disappointed at the moment. Probably going to just stay on the sidelines until I have more time to actually watch the markets (lot of midterms + projects these few weeks until Thanksgiving).
ItsMeexD (Guest) says in Stocks Daily Discussion...
long AAPL 560.78
pftq (Official) says in Stocks Daily Discussion...
Post screenshots screenshots you have a chance so we know what you're looking at. Hard to read phone app charts here to gauge. Good luck with the trade though
ItsMeexD (Guest) says in Stocks Daily Discussion...
long $FB 20.53
pftq (Official) says in Stocks Daily Discussion...
Also helps if you start the chart on the next line - too much scrolling when the screen goes wide. But good luck with FB - it's right in the middle so personally leaning bull nor bear on the direction.
Interesting to see more trendline breaks finishing their plays. If you remember MNST's break a couple weeks back - today they just missed earnings.
Interesting to see more trendline breaks finishing their plays. If you remember MNST's break a couple weeks back - today they just missed earnings.
ItsMeexD (Guest) says in Stocks Daily Discussion...
i will do that next time, didnt know lol. ty for info
pftq (Official) says in Stocks Daily Discussion...
Puts on ESRX at $.46
pftq (Official) says in Stocks Daily Discussion...
Stopped out at $.4 - missed the dip I was going for. Ah well
wd1040 (Guest) says in Stocks Daily Discussion...
I say no new positions until the elections clear out. Confirmation is better.
pftq (Official) says in Stocks Daily Discussion...
Yeah - going to close out positions before end of today. Premiums might fall after election results.
Currently holding SPY 143.5x weeklies at $1 though - think we close near highs before election.
Currently holding SPY 143.5x weeklies at $1 though - think we close near highs before election.
wd1040 (Guest) says in Stocks Daily Discussion...
Lol first the spreads get massive to mess with everyone's technicals. Then explode either way or nothing, just like normal :p
Sent from my Nokia N8
Sent from my Nokia N8
ItsMeexD (Guest) says in Stocks Daily Discussion...
agreed. i held some GMCR and MLNX this morning, no follow through so dumped.
ItsMeexD (Guest) says in Stocks Daily Discussion...
also bitter that i sold CMG too early lol. AOL monster all time highs again.
pftq (Official) says in Stocks Daily Discussion...
Watch BAC for tomorrow - setting up to break $10
ItsMeexD (Guest) says in Stocks Daily Discussion...
im with you on that. will be watching GS
November 6th, 2012 1:17:31 PM PST
Posted by Max Oltersdorf | #
Posted by Max Oltersdorf | #
Max Oltersdorf (Guest) says in Stocks Daily Discussion...
Bought some calls on ESRX this morning around 8:45 PST. for $2.10. Sold 1/3 for 2.65 and 1/3 for 2.80
pftq (Official) says in Stocks Daily Discussion...
Nice - yeah, I was expecting a bounce. Just was impatient and tried to short for the pullback instead.
ItsMeexD (Guest) says in Stocks Daily Discussion...
AAPL - RSI2 = 3.75. #1 on my watchlist tomorrow. dead cat oversold bounce for sure guys.
wd1040 (Guest) says in Stocks Daily Discussion...
I'd start getting rid of the calls we have and stick with the puts only. Current momentum is still to the downside, resistance is at 1400.
pftq (Official) says in Stocks Daily Discussion...
The calls we have don't move with macro as much so should be fine. Already closed out of xlv and dia
ItsMeexD (Guest) says in Stocks Daily Discussion...
bearish engulfing on $DJIA $COMPQ, and definitely $SPY and $RUT.
wd1040 (Guest) says in Stocks Daily Discussion...
lol massive evening star on risk correlated GBPUSD
pftq (Official) says in Stocks Daily Discussion...
GNW calls currently at $.30 from $.20; going to get out at either a break below $6.08 or a test of $6.60.
Picked up Dec. 45x calls on PCAR at $1.70
Picked up Dec. 45x calls on PCAR at $1.70
pftq (Official) says in Stocks Daily Discussion...
Huge spike on ORLY just now but gave away all its gains. Dunno what to think of it - thoughts?
pftq (Official) says in Stocks Daily Discussion...
Picked up a few Nov 90x calls on ORLY at $.90; see if this weird volume spikes leads to anything.
ItsMeexD (Guest) says in Stocks Daily Discussion...
its becuase of AAP news.
pftq (Official) says in Stocks Daily Discussion...
Got out of ORLY at $1.30 from $.90.
How is ORLY related to AAP news though? If it's just sector movement, probably not sustainable.
How is ORLY related to AAP news though? If it's just sector movement, probably not sustainable.
ItsMeexD (Guest) says in Stocks Daily Discussion...
yep defintely unsustainable. sympathy play. both retail, auto parts stores.