05/10/2012 Live Update

[Cobra]

no conclusion today, need see tomorrow. daily chart is another reversal bar, so still bulls are not over yet.

Hi, Wasn't today's daily black bar reversal (open high/close low, w/higher close than previous day) BEARISH?? So bad news for bulls, right? Thanks, Bert

black bar means reversal but it depends on where it locates:

Black bar on swing top implies a potential reversal down therefore is bearish.
Black bar on swing low implies a potential reversal up therefore is bullish.

So today's black bar cannot be interpreted as bearish.

[TraderGirl]

Financials look like they might get beat up tomorrow, but who knows what jupiter will do with that, we could still bounce, but then another down next week. Was looking at XLF, and it looks like we are nearing Fib support, looks similar to last year so far... just don't think we are going to get the massive correction we did last year, think we are going to get new highs into Q1 of 2013, then down we go!!

[garygld]

So, if I am understanding you correctly, you are saying that the volatility of AAPL, for instance, is possibly/definitely a result of HFT?

"This mkt now ONLY moves during the day when machines see orders and rape them."

Whose orders do the machines (computers?) see? My orders? Individuals with a brokerage account who trade? I want to know if I am supporting this and legality is not my question.

150 yrs ago, Thoreau stopped paying his taxes because he did not want to support a government which acted contrary to his beliefs. He went to jail. I am not willing to do that.

Many of us are compromised.

[snakehead]

So, if I am understanding you correctly, you are saying that the volatility of AAPL, for instance, is possibly/definitely a result of HFT?

"This mkt now ONLY moves during the day when machines see orders and rape them."

Whose orders do the machines (computers?) see? My orders? Individuals with a brokerage account who trade? I want to know if I am supporting this and legality is not my question.

150 yrs ago, Thoreau stopped paying his taxes because he did not want to support a government which acted contrary to his beliefs. He went to jail. I am not willing to do that.

Many of us are compromised.

http://www.youtube.com/watch?v=g6vcvYJCkic

[Jcantrade]

Future down big. 1340 tomorrow?

[TradingJackal]

Future down big. 1340 tomorrow?

They have been known to reverse overnight too.

[Al_Dente]

Does anyone know of any news or event on Monday or Tuesday next week that would affect the markets? Up or down?? Or even over the weekend?

TG: here's next week: http://www.briefing.com/investor/calend ... 2/05/14-18

[poulsbotrader]

The banking stocks seem to be the biggest losers after hours.

Anyone know what may be causing this?

[poulsbotrader]

JP Morgan reveals trading loses of 2 billion.

[Petsamo]

JP Morgan reveals trading loses of 2 billion.

JPM & the banks are overbought. They can afford to dump.



In the chart, high numbers mean JPM is strong relative to KBE.
JPM is a component of KBE, which is similar to XLF.

[Al_Dente]

Is anyone awake?
All news channels
especially zerohedge.com
are all over this

[TraderJoe]

Is anyone awake?
All news channels
especially zerohedge.com
are all over this

GM. I have been watching this on TV for over 5 hours now. Several are really knocking JPM.

[Al_Dente]

Hi Joe

The full Jamie Dimon conference call audio here:
http://www.shareholder.com/visitors/eve ... 2&player=1

[uempel]

PAGING UEMPEL
Please post your clairvoyant charts the minute u get in
Thanks


“And now…let the wild rumpus start!” [Maurice Sendak, R.I.P., author of “Where the Wild Things Are”]

Have a great weekend Al_Dente, I'm biased to the downside...

[uempel]

TraderGirl, daily P&F says sell.