12/30/2016 Live Update

[Cobra]

strong rebound here would mean the low was in, so key time.

[daytradingES]

If you were a trading firm needing to square up at year end would you get the job done and then go home at lunch time (OK start drinking at lunch)?

If I were a trader I would have started squaring up a few weeks back selling into strength and have nothing left to do this week

Friday New year lunch to celebrate a year of bonuses - with lots of drink, back to the office to party and a cab home.
-- ah those were the days! LOL

[Trades with cats]

Elliott Wave update from the net
Pretzel Charts is calling the last several days as a very rare Elliott Wave pattern, a triple zig zag. Says he hasn't seen one in at least 5 years. This morning's drop would count as C in the pattern. The other Elliottician I follow, Coolbizone keeps trying to go long around ES 2238. Says he needs SPY 2286 to confirm that we are in V of 2 up headed for new highs. His stop is just below today's low. He didn't post his commitment but typically 10 contracts and a pile of options. Both agree we are in an even more exasperating than usual wave IV. I can barely read a wave count, but I do agree mentally this has been a wave 4.

[Trades with cats]

-- ah those were the days! LOL

Still are if you trade bonds for the State of New York pension fund

[fehro]

INDEXes weak.. NDX very weak.. VIX perks up again..

[Cobra]

possible mm (50%). again due to stockcharts great work, I can no longer provide you with fib info. You can check the real time chart here: https://stockcharts.com/public/1684859/ ... /290112007;, this way, the mm still can help you.

[Cobra]

now let's see if bulls can make double bottom here (50%), key time.

[fehro]

SPX nLOD VIX nHOD 14.33 200d close

[Trades with cats]

Not that anyone cares but Coolbizone honors his stops. Tweeted he is out with a 1.75 point loss. That is 1.75 x $50 x 10 or $875. Second time he has dumped his new long position in 24 hours. He has been trading futures for decades, he honors his stops. I have seen many tweet storms where he will repeatedly take losses like this untill his position starts to work or the wave count changes. A solid lesson for the new year, stick to your plan and take the small loss when the plan says to. As opposed to give it a little more time I must be right and the markets are mistaken. Two days later you start calling the position a long term investment so you don't feel so stupid. Sadly I too have one of those t shirts in my personal trading closet of shame.

To make it a happy new year always work on the positive mind set that we all will do better next year

[fehro]

http://www.zerohedge.com/news/2016-12-3 ... 17-nikkei?

Alas, according to Japan's Nikkei, 2017 is set to begin with a whimper, not a bang, as Apple will trim production of its iPhones by at least 10% in the first quarter of 2017.

[Trades with cats]

It's deja vu all over again with Da Fruit. Earnings number will be OK then the outlook will be bad and we end up back at $90 once again when all is said and done.

[daytradingES]

-- ah those were the days! LOL

Still are if you trade bonds for the State of New York pension fund

guessing at "Still are if you" ....

If it were bonds (never traded these) AND IF bond trading volumes don't dry in the last week
THEN
I would probably have waited until this week and sold on the robust bond action news 2 day2 ago, so Monday Tuesday, Wednesday with most of the volume on Wednesday.

(As far as the liquid lunch I would do whatever the office protocol was at the State of New York pension fund office.
....middle child we are peacemaker and harmonizer.)

[fehro]

VIX nears 200d 14.33 almost there SPX nLOD

[Trades with cats]

Sorry, I was making a snide joke about the trader arrested for taking $100,000 in bribes from brokerage for bar tabs, hotel rooms and escorts.

[fehro]

SPX nLOD.. VIX>20d/50d/20w/200d ..next SPX support 2230ish

[Trades with cats]

tweeted by ZeroHedge, a follow up on Apple
Nikkei report hits AAPL suppliers: Qorvo -2.6%, Skyworks -2.7%, Cirrus Logic -2.3%, Broadcom -1.9%, Qualcomm -1.4%: BBG

[Trades with cats]

I just can't believe this is pension funds rebalancing at the last minute.

[Cobra]

almost 100% mm, so the rebound might fail again.

[q2model]

almost 100% mm, so the rebound might fail again.

Doesn't it look 3 push down pattern?

[fehro]

SPX nLOD VIX >200d