04/02/2012 Live Update

[Mr. T]

really is not a good close.

not closed yet --- BOING!!!!

That's the funniest thing I've heard all day

thanks

[bushwaffle]

really is not a good close.

not closed yet --- BOING!!!!

That's the funniest thing I've heard all day

thanks

lol'd that too

[Cobra]

well, guess that's it for today. not a good close for a strong trend day. I need dig a little before calling tomorrow. thank you guys, I'll see you tomorrow.

[uempel]

Super close for those who are short...

[SWalsh]

some supports here.

I had lunch once with Larry Williams and he said when confused, he said he stands back 10 feet and opens his eyes and the direction should be his first thought. To me, doing that, it looks down. (I'll get new reading glasses in the morning).

[SWalsh]

Super close for those who are short...

34.png

I made a prediction like that once to about 10 guys on a trading desk that the mkt had just done what was needed to crucify the bulls. Laughed at and mocked, by the end of the week they wanted to know how I had stated that. In that case it was an a-b-c up to fib numbers after a dip and the professionals sold all day.

Markets trade to where volume will trade. Where will the volume be? I don't see it up here unless it is 99% Uncle Fed.

[gappy]

In dslv @ 29.10. Hoping for some dollar strength tomorrow.

[uempel]

This system shows a sell signal ...

(reliability is questionable )

[Ed02]

some supports here.

I had lunch once with Larry Williams and he said when confused, he said he stands back 10 feet and opens his eyes and the direction should be his first thought. To me, doing that, it looks down. (I'll get new reading glasses in the morning).

Thanks for the kind reminder.
Took half call pos off the table.
Still feel there is some more legs up, but do agree there appears to be some weakness in the morning, which should be a BTFD setup still.

[uempel]

Super close for those who are short...

34.png

I made a prediction like that once to about 10 guys on a trading desk that the mkt had just done what was needed to crucify the bulls. Laughed at and mocked, by the end of the week they wanted to know how I had stated that. In that case it was an a-b-c up to fib numbers after a dip and the professionals sold all day.

Markets trade to where volume will trade. Where will the volume be? I don't see it up here unless it is 99% Uncle Fed.

SWalsh, I was just pulling Cobra's leg - he didn't like the close. I've been planning to short the 1417/22 since 1400 was broken many days ago. As to my statistics this should work. Not sure if it's going to be a great trade, but most of my trades do show a profit, as I tend to adjust the stoploss continuously...

[TraderGirl]

Apple in the after hours...

[OverUnder]

Kena, I appreciate your posting that chart. However, although you've drawn a wedge, I don't see any compelling reason to draw the top line where you've drawn it. The leftmost side could start anywhere, and only touches one point on the whole top of the wedge. It could just as easily be drawn as a parallel channel. I think you may be succumbing to the urge to draw the pattern that you wish to see. Two touch points do not make a trendline, and especially in this case, where the leftmost touch point could be anywhere on the zigzag down where you've drawn it. Do you have something to point out why it should be where you've drawn it that I'm missing?

It will becoming to an end soon..Any bets which way???

sc-4.png

[bushwaffle]

Kena, I appreciate your posting that chart. However, although you've drawn a wedge, I don't see any compelling reason to draw the top line where you've drawn it. The leftmost side could start anywhere, and only touches one point on the whole top of the wedge. It could just as easily be drawn as a parallel channel. I think you may be succumbing to the urge to draw the pattern that you wish to see. Two touch points do not make a trendline, and especially in this case, where the leftmost touch point could be anywhere on the zigzag down where you've drawn it. Do you have something to point out why it should be where you've drawn it that I'm missing?

It will becoming to an end soon..Any bets which way???

sc-4.png

Overunder, I'll have to agree with you on this one too. I don't see a basis for the upper line. It may play out...but I think it would just be coincidence.

[shumushu]

I think the market is gonna make new highs again this week. A consolidation above 1411 is bullish. My market review today.. Also check out XLF and Dow, it needs a confirmation. Its right now in a consolidation pattern/bull flag. I think its a good setup breaking above the high on XLF.

[xfradnex]

Let the games begin again. It looked like UVXY and TVIX were tracking together last week. It looks like the premium is on again now. Let the evil games begin again. It looks like the trigger is being pulled near the close. http://seekingalpha.com/article/474041- ... urce=yahoo