10/07/2011 Intraday Watering

[seekingknowledge]

alright, so after that weird last 40 minutes...who's STILL holding shorts over the weekend?

<raising hand> smallish position.

here

Holding TZA over the weekend.

[jarbo456]

great week for me...hope it was good for everyone else.

holding shorts over the weekend.

have a great weekend, and see ya'll on MONDAY!

[waverider]

alright, so after that weird last 40 minutes...who's STILL holding shorts over the weekend?

<raising hand> smallish position.

Seeing that you are, and that we sold off hard over the past half hour, I'm much more comfortable about holding short over the weekend. Hopefully the negative news will be a catalyst as well.

Thanks for all the analysis Cobra and everyone, enjoy the weekend.

[cougar]

just post to post

What separates the 10% that make money from the 90% that don’t? by Aamar Shehzad

1. 10,000 hours.

In his recent book ‘Outliers’ Malcolm Gladwell describes the 10,000-Hour Rule, claiming that the key to success in any cognitively complex field is, to a large extent, a matter of practicing a specific task for a total of around 10,000 hours. 10,000 hours equates to around 4hrs a day for 10 years. For some reason most people that ‘try their hand’ at trading view it as a get rich quick scheme. That in a very short space of time, they will be able to turn $500 into $1 million! It is precisely this mindset that has resulted in the current economic mess, a bunch of 20-somethings being handed the red phone for financial weapons of mass destruction. The greatest traders understand that trading much like being a doctor, engineer or any other focused and technical endeavor requires time to develop and hone the skill set. Now you wouldn’t see a doctor performing open heart surgery after 3 months on a surgery simulator. Why would trading as a technical undertaking require less time?

Trading success, comes from screen time and experience, you have to put the hours in!

2. Education, education, education.
3. Think for yourself.
4. Adapt or Die.
5.Fail to plan, you plan to fail.

Nice, SOKU...Here is a story for you, apropos of Wall Street high achievers:

At a fancy dinner, the gorgeous young girlfriend of a Wall Street billionaire was sitting next to Jack, a friend of mine. He is smart and very witty and the young lady was very pleased with his company. But she could not really figure him out…so she asked a direct question:
“What would you consider the top of your achievements in life?”
“To perform brain surgery on a Wall Street billionaire…” - came promptly the answer.
“Oh…I did not know you were a neurosurgeon…”
“No…I am not…I am a racecar driver…”

[heavenskrow]

I saw a lot of bulls prematurely cheering right here on this board.

I have to say that mr. Market is MERCILESS.

Roller Coaster FULL MODE.

banger in TMV son! its a bond bear

[heavenskrow]

holding TMV

[Klarisskin]

Wow! Bears still have some teeth after being raped by the Bernank & co on Tuesday.

I still can't fully recover from Tuesday intervention. 10% of my account evaporated in 45 minutes.

[wayne0708]

bought some shorts last min.

[jarbo456]

my one big concern is that if this is some sort of fed induced 7 day bullish streak...a la cobra's 7 day rule...then this would be the perfect small 1 red day in the cycle. aka calling for a green monday...

hmmm....

[tdo722]

Bought 5000 shares of SDS after seeing clearly of going below support 1156.

Made $900 just the last 10 minutes. These are day trading opportunities. I wish I see these more often. But sold all 5000 shares of SDS at 3:59PM. I ain't holding nothing over the weekend.

The next 4h candle on RUT is very crucial. I am hoping for a super bearish hammer. Who's with me?

[CognitiveDissonance]

Thanks Cobra!

I've been learning quite a bit from this board. Have a great weekend!

[PhilM]

moved as planned

Dow Trader:
You totally nailed it. What did you see in the pattern that caused you to prfedict the up down at the end?

[jarbo456]

a lot of last minute buying on SPY before it closes at 4:15. -_-

[PhilM]

I am holding TMV over the weekend. It's a bond bear ETF.

[soku]

just post to post

What separates the 10% that make money from the 90% that don’t? by Aamar Shehzad

1. 10,000 hours.

In his recent book ‘Outliers’ Malcolm Gladwell describes the 10,000-Hour Rule, claiming that the key to success in any cognitively complex field is, to a large extent, a matter of practicing a specific task for a total of around 10,000 hours. 10,000 hours equates to around 4hrs a day for 10 years. For some reason most people that ‘try their hand’ at trading view it as a get rich quick scheme. That in a very short space of time, they will be able to turn $500 into $1 million! It is precisely this mindset that has resulted in the current economic mess, a bunch of 20-somethings being handed the red phone for financial weapons of mass destruction. The greatest traders understand that trading much like being a doctor, engineer or any other focused and technical endeavor requires time to develop and hone the skill set. Now you wouldn’t see a doctor performing open heart surgery after 3 months on a surgery simulator. Why would trading as a technical undertaking require less time?

Trading success, comes from screen time and experience, you have to put the hours in!

2. Education, education, education.
3. Think for yourself.
4. Adapt or Die.
5.Fail to plan, you plan to fail.

Nice, SOKU...Here is a story for you, apropos of Wall Street high achievers:

At a fancy dinner, the gorgeous young girlfriend of a Wall Street billionaire was sitting next to Jack, a friend of mine. He is smart and very witty and the young lady was very pleased with his company. But she could not really figure him out…so she asked a direct question:
“What would you consider the top of your achievements in life?”
“To perform brain surgery on a Wall Street billionaire…” - came promptly the answer.
“Oh…I did not know you were a neurosurgeon…”
“No…I am not…I am a racecar driver…”

check this out

[cougar]

Great SOKU!
LOL!

[rocstocktrader]

IMO after 3 sessions of relatively bullish action the stock market finished neutral on Friday.

Here is a stock market article for the bullish case: “Is The S&P 500 About To Stage A Multi-Month Rally?”

http://stk.ly/qYFCaS