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Re: 12/05/2017 Live Update

PostPosted: Tue Dec 05, 2017 11:24 am
by te_fern
As someone earlier pointed out the semi's are bouncing, trying to find a bottom after their big sell off....

Re: 12/05/2017 Live Update

PostPosted: Tue Dec 05, 2017 11:24 am
by Daniel
SPY, EEM hod
IWM lod

-clearly a mixed market today. Semis are still strong, but well off their earlier high.

Re: 12/05/2017 Live Update

PostPosted: Tue Dec 05, 2017 11:26 am
by Al_Dente
Trades with cats wrote:For what it is worth Bloomberg article rehashed at Zerohedge pointed out that the tax bill makes all Corp filers subject to the 20% AMT which is supposed to explain the sell off in FANGS.

:D good one boss :D
AMT
"As a result, groups such as Retail, Transports, Business Services, and Telecom should outperform as investors begin to discount tax relief. This should come at the expense of TECH+, Pharma & Biotech, and Autos, which are disadvantaged by proposed changes."
(but they don't mention smalls specifically as hurt by AMT)
http://www.zerohedge.com/news/2017-12-0 ... two-charts

Re: 12/05/2017 Live Update

PostPosted: Tue Dec 05, 2017 11:31 am
by te_fern
Al_Dente wrote:
Trades with cats wrote:For what it is worth Bloomberg article rehashed at Zerohedge pointed out that the tax bill makes all Corp filers subject to the 20% AMT which is supposed to explain the sell off in FANGS.

:D good one boss :D
AMT
"As a result, groups such as Retail, Transports, Business Services, and Telecom should outperform as investors begin to discount tax relief. This should come at the expense of TECH+, Pharma & Biotech, and Autos, which are disadvantaged by proposed changes."
(but they don't mention smalls specifically as hurt by AMT)
http://www.zerohedge.com/news/2017-12-0 ... two-charts


You can definitely see this in the charts of Bios and Semi's which have traded down hard the last week or two......

Re: 12/05/2017 Live Update

PostPosted: Tue Dec 05, 2017 11:34 am
by Daniel
DJT, IYT lod

EWG, FXI hod

Re: 12/05/2017 Live Update

PostPosted: Tue Dec 05, 2017 11:37 am
by Cobra
morning hourly black bar.

Re: 12/05/2017 Live Update

PostPosted: Tue Dec 05, 2017 11:37 am
by te_fern
Levered Bios still struggling. Is this a double bottom???

Re: 12/05/2017 Live Update

PostPosted: Tue Dec 05, 2017 11:38 am
by fehro
mind the diamonds… tops better on 30m. 5m charts ..lookin for a possible $7 drop in IWM

Re: 12/05/2017 Live Update

PostPosted: Tue Dec 05, 2017 11:42 am
by fehro
te_fern wrote:Levered Bios still struggling. Is this a double bottom???


Friends don't let Friends do drugs. IBB weekly very dangerous.. Daily at 20d/200d… stay far away

Re: 12/05/2017 Live Update

PostPosted: Tue Dec 05, 2017 11:55 am
by Trades with cats
I am definitely going to spend the down time over the holidays working up a band trading system for these dead days.

My weekend review of the high movement part of last week showed what I learned decades ago. You can not assume anything. You must waste the time looking at all the fundamental assumptions before you get to the exciting stuff. Operationally, crawl first, run last. Specifically when all the price derivative squiggly stuff is based on some sort of rocket scientist moving average (ema family) and or ATR and the volume and price moves pick up dramatically your stuff is going to get out of whack. For me that means increasing the size of my price bars to move them back into the 1 to 5 minute range. I expect for all of you who trade fixed time bars it would mean the opposite to get the relative movement back to within normal. Normal to me means the number of trade signals per day. :P

Re: 12/05/2017 Live Update

PostPosted: Tue Dec 05, 2017 11:55 am
by Al_Dente
“One whiff and you’re stiff”
Residents of the Irish village of Ringaskiddy in County Cork, blame it on the odd fumes wafting from the local Pfizer factory — which has long produced Viagra.
https://nypost.com/2017/12/04/viagra-fa ... ng-stiffs/

Re: 12/05/2017 Live Update

PostPosted: Tue Dec 05, 2017 11:58 am
by Trades with cats
[/quote]

Friends don't let Friends do drugs. IBB weekly very dangerous.. Daily at 20d/200d… stay far away[/quote]
yea, I used financial statements to show my son-in-law why a job at Pacific Bioscience was very risky. He went with a start-up that is profitable and cash flow positive so he can sleep better at night. :D

Re: 12/05/2017 Live Update

PostPosted: Tue Dec 05, 2017 12:04 pm
by Cobra
the rebound shall have legs if not the low was in.

Re: 12/05/2017 Live Update

PostPosted: Tue Dec 05, 2017 12:07 pm
by Daniel
QQQ hod

IWM joining, now back to green (barely)

Re: 12/05/2017 Live Update

PostPosted: Tue Dec 05, 2017 12:10 pm
by Trades with cats
The pattern I consider to be a 'normal' day is an up move for the half hour or so before the European markets close followed by a half hour or so of consolidation then a gradual grind up into the North American close. After yesterday the grind up target is clearly ES 2657.50. We shall see, after all the Freedom Caucus is still voting with the Democrats on the tax bill.

Re: 12/05/2017 Live Update

PostPosted: Tue Dec 05, 2017 12:16 pm
by te_fern
fehro wrote:
te_fern wrote:Levered Bios still struggling. Is this a double bottom???


Friends don't let Friends do drugs. IBB weekly very dangerous.. Daily at 20d/200d… stay far away


Thanks!! LOL!! Will wait for stronger buy signals... :D

Re: 12/05/2017 Live Update

PostPosted: Tue Dec 05, 2017 12:18 pm
by fehro
fehro wrote:
Daniel wrote:Semis (SMH) up 1 and 2/3 % since the open.


Mind the 20d SMA bounce/test… AAPL dangerous H&S 60m.. it goes down , market goes down


ding ding.. mind the stall NDX

Re: 12/05/2017 Live Update

PostPosted: Tue Dec 05, 2017 12:21 pm
by Trades with cats
xbi.jpg
$XBI from Stockboard assets twitter feed

His comment was that all rallies have been sold into. He has been beating the drum for a longer term double top and major sell-off.

Re: 12/05/2017 Live Update

PostPosted: Tue Dec 05, 2017 12:45 pm
by Cobra
the pullback will be bought. bears simply cannot have any follow through day!!!

Re: 12/05/2017 Live Update

PostPosted: Tue Dec 05, 2017 12:46 pm
by Trades with cats
Article where they calc effective tax rate for the DOW for 2016. Right at 21%
https://seekingalpha.com/article/4129743-tempting-tuesday-stop-buying-dip-get