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yes, could be an Ascending Triangle, if you want to read bullish way. I have no idea but to wait.KENA wrote:Can this be said that we now have 3 attempts at the high today..Yes it is a boring day.
really nice storyAl_Dente wrote:I could get a cavity waiting for something/anything to break here
So for the benefit of BB52x (who doesn’t know short from borscht), and for other newbies, here’s a cut/paste from my notes for the Short Sale 101 class.
Some of the best shorting/covering stories are found in ALL the 1920s/30s classic books. The old terminology was “short-against-the-box.” (Shorts have to “borrow” shares from someone long in order to accomplish a short sale). Old-time clerks in vintage visors and garter arm-bands would physically move the paper stock certificate from the owner’s (long) safe deposit box, and put the certificate in the borrower’s box (short seller’s safe deposit box), and then move it back again when the short-seller bought the stock back (“covered”), to return the borrowed shares to the owner …. day-by-day, an antique physical accounting system ….The terminology evolved to “short verses box” meaning the sale of borrowed stock, then “short v box,” today it is simply known as “short sale” or “sell-to-open”.
My favorite shorting story comes from the 19th century, when Nathan Rothschild was the big gorilla in the London Exchange. Those days his “high-tech indicators” were homing pigeons (I kid u not). Everyone knew about Rothschild’s early-alert-pigeon system (they would watch pigeons return to his estate on the hill), and all would pile-on whenever Rothschild “pigeon-traded.”
His most famous pigeon was the one that carried the earliest “news” of Napoleon’s defeat at Waterloo…very bullish for the market. Rothschild knew that all of his “peers” watched for pigeons, and he knew they would follow his trades, so he calmly went down to the exchange floor and started SHORTING everything in sight … causing quite a crash …. Rothschild then turned around, covered all his shorts, and started buying everything in sight, making a KILLING on the way down, and again on the way up.
History books confirm that his “news” indeed arrived a full day before the UK government knew of their own victory.
Same question, especially considering the NYMO is overbought.pidge66 wrote:Cobra, are you expecting a 2 legged pull back before yesterday's high is retested? If so, I think the triangle should resolve to the down side for the 2nd leg. Thoughts? TIA.
I don't know how long your going to hold for, but check the vix on the daily. When it taps the bottom of the Bollinger it tends to spring up.GreedyKojiro wrote:Yup, I just loaded a new batch of TNA tootdo722 wrote:vix hits a new low on 5min chart but we have yet to hit a new high. i'm going long starting now.
I feel the rocket is taking off in 5,4,3,...
Not expecting 2 leg down. I'm pretty much clueless.pidge66 wrote:Cobra, are you expecting a 2 legged pull back before yesterday's high is retested? If so, I think the triangle should resolve to the down side for the 2nd leg. Thoughts? TIA.
Be sure to use Cobra's AMZN link, man!Petsamo wrote:I'm not Cobra, but I shop AMZN almost as frequently as I shop WMT.lqiantobe wrote:Corba~ can you please give some comments on AMZN?
mac769 wrote:Yes, this is exactly what I am concerned about, the Treasuries seem to look through the "smoke and mirrors" solution of the Eurocrats, so the chart looks accordingly...gator11 wrote:anyone have any thoughts on the Ted Spread staying elevated during this rally. Typically this should fall during healthy rallies. Correct?
and btw, who wants to be long Euro and short USD over the weekend?
I agree. This triangle really throws a curve ball at us.Cobra wrote:Not expecting 2 leg down. I'm pretty much clueless.pidge66 wrote:Cobra, are you expecting a 2 legged pull back before yesterday's high is retested? If so, I think the triangle should resolve to the down side for the 2nd leg. Thoughts? TIA.
I brought these chart up because I think the Day traders use SSO more than SPY. There seems to be moves made using SSO before SPY, but not all the time. Any comments on how this can be useful for trading?? thanks.xfradnex wrote:Just had Huge SSO head fake on high volume of day. Spy did not follow ,almost no volume change.
less than 10 mins.CognitiveDissonance wrote:I don't know how long your going to hold for, but check the vix on the daily. When it taps the bottom of the Bollinger it tends to spring up.GreedyKojiro wrote:Yup, I just loaded a new batch of TNA tootdo722 wrote:vix hits a new low on 5min chart but we have yet to hit a new high. i'm going long starting now.
I feel the rocket is taking off in 5,4,3,...
If EURO is toast US$ should start up. If that happens, markets should go down.Me XMan wrote:EURO is toast IMO
That's what I figuredtdo722 wrote:less than 10 mins.CognitiveDissonance wrote:I don't know how long your going to hold for, but check the vix on the daily. When it taps the bottom of the Bollinger it tends to spring up.GreedyKojiro wrote:Yup, I just loaded a new batch of TNA tootdo722 wrote:vix hits a new low on 5min chart but we have yet to hit a new high. i'm going long starting now.
I feel the rocket is taking off in 5,4,3,...
mac769 wrote:really nice storyAl_Dente wrote: .....their own victory.
this is why it pays out to look for contrarian signals and not follow blindly the lemmings into the abyss (which imho is right now happening with the so called "Final Euro solution")
This wave is as flat as Keira Knightly.ramram wrote:my guess is we are in a wave 4 of minor c -- and have one more wave 5 push up to take us near 1307 SPX. Still not sure if wave 4 is a flat or if it will drop a bit?
I don't do Forex. But I take it as who wants to hold long over the weekend! Yes, I do!Me XMan wrote:EURO is toast IMO
mac769 wrote:Yes, this is exactly what I am concerned about, the Treasuries seem to look through the "smoke and mirrors" solution of the Eurocrats, so the chart looks accordingly...gator11 wrote:anyone have any thoughts on the Ted Spread staying elevated during this rally. Typically this should fall during healthy rallies. Correct?
and btw, who wants to be long Euro and short USD over the weekend?
Hi pidge66,pidge66 wrote:I agree. This triangle really throws a curve ball at us.Cobra wrote:Not expecting 2 leg down. I'm pretty much clueless.pidge66 wrote:Cobra, are you expecting a 2 legged pull back before yesterday's high is retested? If so, I think the triangle should resolve to the down side for the 2nd leg. Thoughts? TIA.