03/19/2012 Intraday Watering

[jimme]

My lead man says get out of short and buy, WTF? well, I am done today. going for a walk now.

I'll go with you.

[TraderGirl]

SPX broke thru both short term wedge resistance and long term channel resistance, now pulling back.. will there be follow through on the upside or not?? Financials pulling back, so we need the financials to continue up in order for SPX to continue up with conviction. XLF hitting resistance too...

[Harapa]

My lead man says get out of short and buy, WTF? well, I am done today. going for a walk now.

Per Tom DeMark’s Waldo 3 pattern today price bar will qualify as “an exhaustion bar” for TNA. In 24 of 28 instances since inception, TNA traded higher (average 3.2%) than previous day close.
The same algo applied to IWM since its inception indicates 94% probability of a higher high tomorrow.
Stay away from shorts.

[Pharmboy]

SGEN...I hope some joined when I posted a few weeks back. I would lighten up in here or buy a few calls with the cash made.

[Cobra]

double bottom here?

[tomsky]

Bradley turn dates got thrown out the window again hahaha

Looking back, Bradley turn dates have affected the market up to 7-8 days before or after date, so potentially, March 23/24th...we'll see...

Sorry, but turns dates have proven worthless in this non-carbon based trading environment. Please refer back to each of your earlier comments in regard to turn dates and let me know how that worked out for you? The machines are programmed to prey on traders that follow these events. You would be better off doing the opposite. FWIW

I've attached a chart with bradley turn dates in it, major ones are green and minor are highlited in red. U can draw the conclusion yourself.
i can't answer your question because until february never heard of bradley, wish i did.

[victorm]

SGEN...I hope some joined when I posted a few weeks back. I would lighten up in here or buy a few calls with the cash made.

Yea, I listened but was hope it come down more with awaiting pullback. Too late now. Thanks Pharmboy, closely follow your posts.

[Cobra]

now it looks like a descending triangle, but let's wait, nowadays usually the market closes strong.

[SWalsh]

I wonder what happens when the only ones who place an order for a position shorter than 6 months is a HFT or a Algo? Does SPY have a major move of .35?

All brought to you by lobbyist saying they provide "liquidity", with bags of cash in hand, as the most corrupt government in US history allows the banks to institutionally rape the public. I've written my representatives to end this and included that the NYSE wants this severely regulated and the former head, Grasso, wants them ripped out. Have you?

[Cobra]

indeed it's descending triangle. the target has been met though, so I'm still neutral.

[knurbs]

Bradley turn dates got thrown out the window again hahaha

Looking back, Bradley turn dates have affected the market up to 7-8 days before or after date, so potentially, March 23/24th...we'll see...

Sorry, but turns dates have proven worthless in this non-carbon based trading environment. Please refer back to each of your earlier comments in regard to turn dates and let me know how that worked out for you? The machines are programmed to prey on traders that follow these events. You would be better off doing the opposite. FWIW

I've attached a chart with bradley turn dates in it, major ones are green and minor are highlited in red. U can draw the conclusion yourself.
i can't answer your question because until february never heard of bradley, wish i did.

Your chart kind of makes my point. It's just my opinion, I see a S&P that has virtually gone up without taking a breath since late last year. Trying to use those turn dates would have proved fruitless for most traders. GLTA

[OverUnder]

Selling on volume there. Maybe Bradley turn date is right after all.

"When the moon is in the seventh house, and Jupiter aligns with Mars ...."

[nimodo]

SGEN...I hope some joined when I posted a few weeks back. I would lighten up in here or buy a few calls with the cash made.

I did, many thanks

[TraderGirl]

Bradley turn dates got thrown out the window again hahaha

Looking back, Bradley turn dates have affected the market up to 7-8 days before or after date, so potentially, March 23/24th...we'll see...

Sorry, but turns dates have proven worthless in this non-carbon based trading environment. Please refer back to each of your earlier comments in regard to turn dates and let me know how that worked out for you? The machines are programmed to prey on traders that follow these events. You would be better off doing the opposite. FWIW

I've attached a chart with bradley turn dates in it, major ones are green and minor are highlited in red. U can draw the conclusion yourself.
i can't answer your question because until february never heard of bradley, wish i did.

Exactly...you prove the point tomsky,
I don't pay attention to the minor Bradley turns, but I do pay attention to the major turn dates, and all of them pointed out in green were effective. So knurbs, pay attention. There are no guarantees, but something happened here, can you explain it???

8/19/10 - within a couple of days
11/16/10 - 8 days later
2/17/11 - within a couple of days
7/29 - 7/30/11 - 8 days before
12/28/11 - 8 days before
2/16/12 - 8 days after??

[johnnywa]

High time for 6.5% pullback

[SWalsh]

The machines are programmed to prey on traders that follow these events. You would be better off doing the opposite. FWIW

At least one person has learned that all speculators have been gamed by entities with unlimited cash.

The Five (really six) Crime Families came together and under the cover of law, they set the prices like FDR set the price of gold. Welcome to "Barry's World" where he breaks contract law, hands away car companies, and rails against lobbyists while being flooded with money from Wall Street. A real "Class A" (fill in the blank)

Here's a trading tip. If your trading at a level that doesn't have a trendline attached to it, DON'T!

[Cobra]

AAPL is strong, could be an Ascending Triangle here, so the bias is still up.

[fehro]

bounce at 1407ish? or breakdown

[Cobra]

a little trend line here.

[jimme]

Thanks All for all your great comments and charts and all. GLTA jimme