07/12/2012 Live Update

[TraderGirl]

Do we keep rising, or do we get a big shocker tomorrow??

[Petsamo]

This little downleg into the close should stay little

[KENA]

The dome is void ..I don't think I have ever seen one with 3 target points.It did a good job on the first 2.

[MrMiyagi]

JPM reports tomorrow pre market.
PLUS.. it is Friday the Thirteenth.

[MrMiyagi]

Well that party was short-lived...

[Petsamo]

The bear is still present

[TraderGirl]

FAS update...

[OverUnder]

Pretty long lived if you ask me, up since 10:45 this morning.

Well that party was short-lived...

[soku]

China GDP data out tomorrow and i expect more volatile range in coming

thanks for reminding. me playing short again

[Cobra]

Hey Cobra

are you familiar with Al Brooks books on 5-minute tech analysis ? Do you recommend it ?

What you and other forum member think of it ?

A waste of time and money or something of value ?


Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader
"Trading Price Action Reversals: Technical Analysis of Price Charts Bar by Bar for the Serious Trader"
Trading Price Action Trading Ranges: Technical Analysis of Price Charts Bar by Bar for the Serious Trader By Al Brooks

http://www.amazon.com/Reading-Price-Cha ... roduct_top

is he richer then W. Buffet ? if not what is the value then in the book.

I cannot bear to read his book (well, virtually I cannot read any book now, I can accept images only nowadays), but lots of concepts I'm using here were from his idea. Check "Getting Started" in this forum. So I really wish I could read his book, perhaps my calls on the market would be improved more.

strongly doubt that reading the book in detail would help your calls much--mostly you are doing things right by his standards. i realize this is the same old rap from me but the key idea for people here once the technical stuff is pretty much in hand is to work on all the other stuff. so looking for more how you look at the rules as opposed to focusing on getting the rules more in hand.

to all site users--we find tons of posts about this or that pivot point but not much discussion on how to improve our trades in terms of size--having confidence or not etc. if you know the rules inside and out--and both cobra and al brooks are fairly simple if you just hang with them for a while--then something else is the issue.

i kept track of my understanding of the market in extreme detail in the following way. (1) did i clearly know what was going to happen the next day. (2) breaking the day down into segments (a) did i know what was happening in the sense of knowing the whole trade from start to stop. (b) how loudly did i know this--how strong did i hear the trade in my head. (3)what were the results of my trades.

and guess what there was no relation between the knowing what was going on--loud or not--in any time frame. the only thing was did i follow the rules no matter what i felt. so measured moves pivots etc mean nothing--just that i follow trends and buy points. if i am scared clueless etc nothing makes any difference.

also discovered from other investigations if i spend 1/10 the time working on the charts--i do 50% better. the less stuff i watch--the better i do

so just my opinion but the calls are fine--i just wish people would talk more about the other stuff--because it has to be the key if the calls are right 80% of the time.

Thanks for the update. I was actually waiting for your comments.

[TraderGirl]

SPX may close below wedge support....

[Al_Dente]

FAS update...

OUCH

[Tabby]

JPM reports tomorrow pre market.
PLUS.. it is Friday the Thirteenth.

Mr Miyagi, just use the (THOR) hammer in NYSE at 1600. Plz don't push any botton tomorrow, we might go to moon. I thought we might finish Y wave today.

[Cobra]

well, guess that's it for today, not a strong close I'd like to see, I'm a little disappointed. Not idea about tomorrow yet as I'm really scared of being blamed. Thank you guys, I'll see you tomorrow.

[Mr. T]

well, guess that's it for today, not a strong close I'd like to see, I'm a little disappointed. Not idea about tomorrow yet as I'm really scared of being blamed. Thank you guys, I'll see you tomorrow.

[points finger]

"This is all your fault!!!"

What are we talking about?

[Al_Dente]

HARAPA
thanks again
.......

[CH37]

SPX 1300 is 90% sure thing before Aug OE !

[fehro]

SPX 50 day SMA 1334.56ish over under or on it...

[MrMiyagi]

Mr Miyagi, just use the (THOR) hammer in NYSE at 1600. Plz don't push any botton tomorrow, we might go to moon. I thought we might finish Y wave today.

My fingers were off the button!! I swear!!

The hammer candlestick I posted earlier today is pretty much null now.

[uempel]

Tricky trading today - I was lucky, but if was solely gambling, not trading