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You are spot on in my opinion. This market has not presented any low risk swing trade entries for many months. The "reversals" always come hard and fast from nowhere, and never does a proper retest of the swing low or high. This market simply is not trade-able from low risk swing trading perspective. What happened to positive/negative divergences on daily charts? They seem like ancient history.rhight wrote:Thanks for the charts weekenders, and Cobra for hosting.
Don't look now, but the market (SPX) just gained / lost 100 points. I took a lunch break and missed it. I feel somewhat lucky to have made 60 inverse points in the last couple of weeks, and somehow decided to close my shorts on 11/25. The light down volume made me nervous, and the pattern target at 1165 had been reached. My particular system didn't issue a buy until 11/29. Even so, I'm still not long because I couldn't find a low risk set-up. V bottoms are difficult for me to trade. Now, after price has rocketed up in no time, it faces a quadruple dose of substantial over-head resistance (horizontal, down trend, 200DMA, and Fib cluster).
Note that in late October, price closed 2 days above the 200DMA, and in the second week of November it only closed 1 day above the 200DMA. If that pattern continues, then we will close 0 days above the 200DMA this time A minor retrace to, let's say 1220, will probably be bought and then we'll see if we can break the 200DMA and a possible new cyclical down trend from the July highs, and hold. The secular down trend is up around 1325. Are we going to make it? Don't ask me, I'm just looking for the next set-up. I'm not even sure that the intermediate down trend (from late October) is over.
VRUS has been very nice to mecougar wrote:Time for a brief review of my “Off-Wall-Street-Conviction-Watch-List”:
In the “hepatitis C “ racket:
* VRUS (Pharmasset) which I declared over 1 month ago as the new star of Biotech was recently bought by GILD for an exorbitant price and was removed from the list.
* The present NEW STAR is INHX (Inhibitex) also mentioned before. It is now going ballistic. A chart here would be simply superfluous.
* VRTX (Vertex) is dropping lower and lower…and has also been removed from the list, for different reasons…
Among “batteries”:
PPO is weak, reflecting the recent “bearishness” in this sector. “Wavy-gravy” looking bad too…
MXWL was badly beaten - with the help of those pseudo-tech-analysts who do not know the difference between a battery and a capacitor…It is now recovering and I have a “strong hold” on it.
Three additional biotechs with potential: MELA, VRX & AMRN. They also have interesting charts.
Among “new wave energy stocks” CRR was my favorite. Swing-trading it was great…but on Friday it experienced a spectacular drop…which might reflect the fear of earthquakes enhanced by fracing…
It is now at 2x support.
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DD is a MUST for anyone interested in these names. I will NEVER post any fundamental opinions here.
KENA, nice to hear that you like my charts. I try to keep thing as simple as I can. I wish Cobra a success he gave so much to this board. I pay Stockcharts.com so I can view others's chart nothing else, that's 14.99/mo. for $10.00 here it's a steal.KENA wrote:Hi BB52x..Not going fishing the seasons are mostly closed. Just doing some reading.I had a hard time staying with it last week.Right now because of the season I am leaning more on the bullish side but I guess I read to many of the bearish comments on the site during trading.I think we will have another push up to the 1260/70 area ( maybe monday )and then a pull back but not a drastic one.We may see some green moves from the middle of the month to year end and closing the year near the 200ma.Most of my trading is fairly well set in the first 2 hr's. then I do stock research to find stocks to go short or long for future use.I guess I am going to hold back reading to much of the sites comments when I feel a little bullish.I am bearish for the intermediate and long term right now.I enjoy your charts they are one of a kind. That's to bad that COBRA has not been able to get very many donations for the amount of people reading and logging into his site. Maybe things will get better. Hope so because it takes a lot of time to make up an unbised report. I guess Nuff said and as usual wait and see.Have good fishing today.
Here the bigger view of DBV. lots of liquidity out there or is it?Al_Dente wrote:Friday was some kind of significant day, a major intraday internals dump that I haven’t seen in a quite while… yes, perhaps it was just a one day “fluke”, etc.
Recall that Central Bank intervention has certainly offered quite a powerful trampoline over the past few years, and cannot be ignored.
PAGING Baron von BullBear52x, please consider re-posting your chart that I remember from months(?) ago, the one with DBV(?) calling out the central bank inflection points over the past few years.
…..Okay, fine, I’ll admit it, I do watch your charts very carefully, as often as I can (I just like to give you a hard time).
…. more tomorrow
http://www.youtube.com/watch?v=apdaZfYI ... re=related
Cougar, I know many people see $VIX as over sold, see my MACD I see no turn sign yet. this is one hour.cougar wrote:VIX reentered timidly inside the Acceleration Band while TVIX gave a confirmed intraday BUY signal: