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Re: 12/08/2017 Live Update

PostPosted: Fri Dec 08, 2017 1:23 pm
by te_fern
Al_Dente wrote:A review of the classic “Trading Rules” updated to include bitcoin:
http://www.zerohedge.com/news/2017-12-0 ... g-anything


Nice read, thanks!

Re: 12/08/2017 Live Update

PostPosted: Fri Dec 08, 2017 1:25 pm
by te_fern
Made it back to the 2nd pivot resistance, see if it will hold??

Re: 12/08/2017 Live Update

PostPosted: Fri Dec 08, 2017 1:30 pm
by Al_Dente
te_fern wrote:
Al_Dente wrote:A review of the classic “Trading Rules” updated to include bitcoin:
http://www.zerohedge.com/news/2017-12-0 ... g-anything

Nice read, thanks!

:D

Re: 12/08/2017 Live Update

PostPosted: Fri Dec 08, 2017 1:37 pm
by te_fern
Pasta Boss, what trading day did the Almanac say to start scaling into the market for the late December/January potential rally??

Re: 12/08/2017 Live Update

PostPosted: Fri Dec 08, 2017 1:38 pm
by te_fern
VIX showing no concerns right now....

Re: 12/08/2017 Live Update

PostPosted: Fri Dec 08, 2017 1:41 pm
by te_fern
Semi's sure aren't participating in this rally.....

Re: 12/08/2017 Live Update

PostPosted: Fri Dec 08, 2017 1:44 pm
by Al_Dente
te_fern wrote:Pasta Boss, what trading day did the Almanac say to start scaling into the market for the late December/January potential rally??

http://jeffhirsch.tumblr.com/post/16819 ... -usually-a

Re: 12/08/2017 Live Update

PostPosted: Fri Dec 08, 2017 1:46 pm
by Cobra
this bull shall still have legs.

Re: 12/08/2017 Live Update

PostPosted: Fri Dec 08, 2017 1:49 pm
by fehro
fehro wrote:headlines.. looked all rosy for China this morning? XLY0- Shanghai $SSEC W/D .. <20w/50w/20d nears 50d and 2yr uptrend .. china going to break first?


http://www.zerohedge.com/news/2017-12-08/hartnett-every-time-chinese-yields-hit-4-crash-happens

Which assets are likely to be impacted the most once this Chinese bubble pops? Two suggestions according to BofA are cryptos and/or emerging markets...

Re: 12/08/2017 Live Update

PostPosted: Fri Dec 08, 2017 2:04 pm
by Cobra
the pullback will be bought.

Re: 12/08/2017 Live Update

PostPosted: Fri Dec 08, 2017 2:09 pm
by Shaishen
te_fern wrote:
Al_Dente wrote:A review of the classic “Trading Rules” updated to include bitcoin:
http://www.zerohedge.com/news/2017-12-0 ... g-anything


Nice read, thanks!


Kind of ironic observation coming from a SAC Capital guy

"Trading means admitting you aren’t the smartest person in the market. Someone always knows more than you, and chances are good they are acting on knowledge you don’t have."

.

Re: 12/08/2017 Live Update

PostPosted: Fri Dec 08, 2017 2:24 pm
by te_fern
Al_Dente wrote:
te_fern wrote:Pasta Boss, what trading day did the Almanac say to start scaling into the market for the late December/January potential rally??

http://jeffhirsch.tumblr.com/post/16819 ... -usually-a


Thanks Boss! The hard part is whether today is the beginning of the rally or will we have another pull-back next week. Would have been easier to have had the sell-off continue. But, the market never likes to make it easy!! LOL!

Re: 12/08/2017 Live Update

PostPosted: Fri Dec 08, 2017 2:27 pm
by te_fern
The TICK for the Qs isn't as strong as the big board today....

Re: 12/08/2017 Live Update

PostPosted: Fri Dec 08, 2017 2:46 pm
by Trades with cats
Both wave counters I read see a reasonable chance of testing the General Flynn low before moving into the year end rally. In fact Pretzel Logic says the move from the high can be counted as both an impulsive and a corrective at this point.

Re: 12/08/2017 Live Update

PostPosted: Fri Dec 08, 2017 3:00 pm
by te_fern
Trades with cats wrote:Both wave counters I read see a reasonable chance of testing the General Flynn low before moving into the year end rally. In fact Pretzel Logic says the move from the high can be counted as both an impulsive and a corrective at this point.


TWC, who's the other wave counter? I follow PL too. Thx!

Re: 12/08/2017 Live Update

PostPosted: Fri Dec 08, 2017 3:08 pm
by Al_Dente
Some sectors, TWO DAYS ONLY
“P-bars” on XLY are quite unusual
[add two notes: 1) yes, AAPL is now its own sector, and 2) there is something in the tax bill that benefits utilities, so sorry, i don't remember what exactly it is]
128two day.png.png

Re: 12/08/2017 Live Update

PostPosted: Fri Dec 08, 2017 3:12 pm
by Trades with cats
I follow coolbizone , coolbiz1 on twitter these days. He went short after the jobs report then got stopped out.

Re: 12/08/2017 Live Update

PostPosted: Fri Dec 08, 2017 3:14 pm
by Cobra
possible double top.

Re: 12/08/2017 Live Update

PostPosted: Fri Dec 08, 2017 3:23 pm
by te_fern
Trades with cats wrote:I follow coolbizone , coolbiz1 on twitter these days. He went short after the jobs report then got stopped out.


Actually follow him too. PL is amazing, but I find his if, buts and watch outs very confusing to make a decision on. He always comes back later and says he's right, but at the original forecast he gave a lot of warnings.....

Re: 12/08/2017 Live Update

PostPosted: Fri Dec 08, 2017 3:26 pm
by Cobra
target met. now 15 min ema20, maybe rebound?