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03/02/2020 Live Update

Re: 03/02/2020 Live Update

Postby Daniel » Mon Mar 02, 2020 11:20 am

BullBear52x wrote:We should test overnight high at the minimum today, I know it's Monday.

Schwab has TRIN hanging above 1.5; don't you prefer to see that under 1?
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Re: MoMo Trader

Postby Daniel » Mon Mar 02, 2020 11:22 am

Harapa wrote:
Harapa wrote:Long ES @2958

S/L 20 handles...hit...ouch...

Condolences. Part of the process.
This is a very herky jerky market right now. Snap crackle pop!
:|
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Re: 03/02/2020 Live Update

Postby Heck » Mon Mar 02, 2020 11:25 am

Factory activity weakest reading on record...

Wall St preps for possible shutdown of trading floor...

Buying bad news can profit
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Re: 03/02/2020 Live Update

Postby te_fern » Mon Mar 02, 2020 11:31 am

could it be a bull flag?? Hoping....
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Re: 03/02/2020 Live Update

Postby Al_Dente » Mon Mar 02, 2020 11:32 am

Heck wrote:......Wall St preps for possible shutdown of trading floor.......

Boss: can you give us a source on that, thanks
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Re: 03/02/2020 Live Update

Postby BullTart » Mon Mar 02, 2020 11:34 am

big move coming up.. given the hammer on the daily yesterday, it may be to the upside
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Re: 03/02/2020 Live Update

Postby Daniel » Mon Mar 02, 2020 11:35 am

Prices of the 3 majors are holding within their OR-60 (60min opening range).
That range is itself relatively narrow today. Is price beginning to consolidate? Perhaps the market is gaining confidence that economic dislocations are being "priced in"?
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Re: 03/02/2020 Live Update

Postby BullBear52x » Mon Mar 02, 2020 11:39 am

Daniel wrote:
BullBear52x wrote:We should test overnight high at the minimum today, I know it's Monday.

Schwab has TRIN hanging above 1.5; don't you prefer to see that under 1?

I did look at it closely, today is my buy day, would like to see TRIN lower, the day still young.
My comments are for entertainment/educational purpose only. NOT a trade advice.
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Re: 03/02/2020 Live Update

Postby Daniel » Mon Mar 02, 2020 11:48 am

BullBear52x wrote:....today is my buy day, would like to see TRIN lower, the day still young.

Cobra isn't currently putting much weight on TRIN readings, as he indicated the other day.
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Re: 03/02/2020 Live Update

Postby BullTart » Mon Mar 02, 2020 11:50 am

let's see if this breakout to the upside is legit
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Re: 03/02/2020 Live Update

Postby Daniel » Mon Mar 02, 2020 11:51 am

SPY hod, QQQ & IWM not yet.
QQQ and SPY had their pullbacks neatly contained by the (upslope) 5min 20ema.
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Re: 03/02/2020 Live Update

Postby BullBear52x » Mon Mar 02, 2020 11:59 am

Daniel wrote:
BullBear52x wrote:
Daniel wrote:
BullBear52x wrote:We should test overnight high at the minimum today, I know it's Monday.

Schwab has TRIN hanging above 1.5; don't you prefer to see that under 1?

I did look at it closely, today is my buy day, would like to see TRIN lower, the day still young.

Cobra isn't currently putting much weight on TRIN readings, as he indicated the other day.

when finding the end of the run/ end of the trend up/down, having TRIN in agreement is a must for me. days after that it doesn't weight as much but nice to have it on your side of a trade. like today if by the closed the TRIN is still up high it will tell me that the buying is questionable, if TRIN were to be lower it will suggest the higher price should be expected. not guaranteed (nothing is) but I would feel much better for over night holding. (swing position) for day trade I would come back the next day with continue buying in my trading plan.
My comments are for entertainment/educational purpose only. NOT a trade advice.
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Re: 03/02/2020 Live Update

Postby te_fern » Mon Mar 02, 2020 12:02 pm

Need to break and hold above 3000...
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Re: 03/02/2020 Live Update

Postby Daniel » Mon Mar 02, 2020 12:09 pm

BullBear52x wrote:.....having TRIN in agreement....TRIN....TRIN....TRIN....in my trading plan.

:) -Thx BB52! That is indeed a reasoned and seasoned approach. Richard Arms himself wrote much about the nuances of how to use his indicator. It isn't a black and white signal generator.

You are always generous in your explanations. :ugeek:
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Re: 03/02/2020 Live Update

Postby Heck » Mon Mar 02, 2020 12:12 pm

1.03 % $TNX
= 97 PE
= UP

1.9 % SPY Dividend Yield

Favours Equity = UP
Last edited by Heck on Mon Mar 02, 2020 1:11 pm, edited 3 times in total.
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Re: 03/02/2020 Live Update

Postby Al_Dente » Mon Mar 02, 2020 12:14 pm

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Re: 03/02/2020 Live Update

Postby Heck » Mon Mar 02, 2020 12:14 pm

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Re: 03/02/2020 Live Update

Postby BullBear52x » Mon Mar 02, 2020 12:18 pm

This must be a bear market, kind of liking it even on the buy is getting pay. :lol: :mrgreen: :mrgreen: :mrgreen:
My comments are for entertainment/educational purpose only. NOT a trade advice.
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Re: 03/02/2020 Live Update

Postby BullBear52x » Mon Mar 02, 2020 12:19 pm

Stops are in......Emotions are out!
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Re: 03/02/2020 Live Update

Postby Cobra » Mon Mar 02, 2020 12:20 pm

Maybe it's an uptrend day, maybe. At least this bull shall have legs.
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