04/11/2013 Live Update

[Unique]

Cobra do have a rule where the 2nd touch of EMA 20 should be bought?

in today's case, better wait for H2 because the pullback is too sharp.

First touch 20ema 5min is a buy, second is a short. It worked well today and yesterday.

[Tabby]

Great. Just in time for tax day: IRS says it can read your emails without a warrant. (from Gruber):

http://news.cnet.com/8301-13578_3-57578 ... a-warrant/

"They can take our money, but they'll never take our"— oh. never mind. They'll take whatever the hell they damn well feel like.

Memo to self: start writing tons of emails detailing drunken, drug filled exploits with hookers, IRS supervisors and untold numbers of zoo creatures— that should keep the pigs at bay.

This is not new. They trace people on their facebook if they want to. For those who like to show their offshore proprties/possessions with pictures on their facebook account

[jarbo456]

Also RUT Midcaps the broad leaders major lagging

My R2K showing the same patteren as March 14. It went up higher the next day but the indicators not showing any sign of the truth. We still can go up few points higher but MACD not cooperating on hourly chart, as you said lagging.

You mean like this?

Pattern definitely looks the same...

No trade here, just say'n...looks familiar.

[KENA]

Remember we had a P Bar a couple days ago dn to 156.79..Lets see

[L_T]

Cobra do have a rule where the 2nd touch of EMA 20 should be bought?

in today's case, better wait for H2 because the pullback is too sharp.

First touch 20ema 5min is a buy, second is a short. It worked well today and yesterday.

I was mostly being a comedian (trying?) with what I said. Do you have any knowledge to back up always sell a 2nd touch? Just curious as I love the 1st touch rule. Thanks.

[fehro]

Remember we had a P Bar a couple days ago dn to 156.79..Lets see

and a tiny unfilled gap around 1550 on SPX 5m

[L_T]

My short was on the ropes with a bloody nose (bloody ear if it was up against Tyson) but it's battling back......

[Al_Dente]

Hey Pasta, missing you and the whole gang.
Wanna appropriate Hemingway quote as our board motto: "Done by noon, drunk by three"?
I'm thinking Toto, then over to the 3-Way Divorce Club. Uemp, you in?

hi X
Toto it is
(no divorce)

http://www.youtube.com/watch?v=vPJuFxl0bxY

[Tabby]

Also RUT Midcaps the broad leaders major lagging

My R2K showing the same patteren as March 14. It went up higher the next day but the indicators not showing any sign of the truth. We still can go up few points higher but MACD not cooperating on hourly chart, as you said lagging.

You mean like this?

Pattern definitely looks the same...

No trade here, just say'n...looks familiar.

I look at numbers.

March 14, R2k indicators, mACD and W R% hit the highest.
March 15, it was up till 2Pm and then gradually dropped to 936 till earlly April.
Sideway up and down from 936-953. Then dropped heavily to 909, oversold and indicators started going up within 2 days. By Monday few stocks pushed it higher till now.
We can still go higher if we stay in sideway for a longtime. This is the way that R2K correct itself ,imo.

[MrMiyagi]

[Unique]

Great. Just in time for tax day: IRS says it can read your emails without a warrant. (from Gruber):

http://news.cnet.com/8301-13578_3-57578 ... a-warrant/

"They can take our money, but they'll never take our"— oh. never mind. They'll take whatever the hell they damn well feel like.

Memo to self: start writing tons of emails detailing drunken, drug filled exploits with hookers, IRS supervisors and untold numbers of zoo creatures— that should keep the pigs at bay.

This is not new. They trace people on their facebook if they want to. For those who like to show their offshore proprties/possessions with pictures on their facebook account

The thugs at FBI and CIA can do anything they want. Eg. Kim Dotcom and many more.

/Old news, organized crime government bad - tyranny

----

In other news, scalp short SPY working good

[Cobra]

not sure if the rebound has started. didn't see good H2 long yet. wait.

[TWT]

$SPX: Not sure if this up leg is over but the next pullback can be large (30 +/- points)

[gappy]

Maybe dr petro will get us a little dip to buy.

oil.png

[gappy]

My short was on the ropes with a bloody nose (bloody ear if it was up against Tyson) but it's battling back......

Still holding til manana's retail numbers. Nothing ventured, nothing gained.

[L_T]

The attachment 929.png is no longer available

Miyagi snag those p-bars for us.

[fehro]

possible little H&S XIV

[Jack12]

Could be 1 more high lurking in the bushes at 1600 http://jaxdax.blogspot.com/2013/04/s-ed-progress.html

[L_T]

not sure if the rebound has started. didn't see good H2 long yet. wait.

Cobra you forced me to refer back to my notes. Hopefully someone else gets value out of this.

Notes on Al Brooks' Price Action Trading

Al Brooks' style of trading is based on price action only. He does not look at any technical indicators, only candle sticks, trend lines, and moving averages. He trades mainly S&P futures, but I am trying to apply the techniques to stock equities (SPY).
Chart Setting
 5 minute chart with 20 EMA. The point is to be simple and nimble. Too much information will simply paralyze you from making quick trading decisions.
Terminology
 H1, H2 Signals: The first and second occurrences where the high of the current bar is greater than the preceding bar during a given pull back of an up trend.
 L1, L2 Signals: The first and second occurrences where the low of the current bar is lower than the preceding bar during a given pull back of a down trend.
 Signal Bar: The bar preceding the H1, H2, ... or L1, L2, ... triggers.
 Entry Bar: The bar after the signal bar.
 Range Bar: A doji or near doji.
 Trend Bar: A large white body candle is a bull trend bar; a red/black one is a bear trend bar.
Entries



 H1 long or L1 short with-trend entries. These work well on a strong trend.
 H2 long or L2 long entries near the 20 EMA. These work well based on the observation that a prevailing trend normally uses a 2 legged pull back before resuming the trend.
 Parallel channel over-shoot and failure. Stay-in-the-channel, don't chase.
 Reversal counter-trend entries only after trend line break AND a retest of the low (long entry) or the high (short entry). Look especially for 3 pushes for better reliable trade.
Exits
 For scalping SPY: Exit 1/3 after the first .10, another 1/3 after .20, and let the remaining 1/3 run.
 Stop exits: Initially 1 tick "beyond" the signal bar; after the entry bar transpires, move the stop to 1 tick "beyond" the entry bar; after taking the first target profit, move the stop to break-even.
Miscellaneous Notes
 Do not look for perfect patterns. Resembling one is good enough.
 Don't over-trade. Be selective. 3-4 trades per day is enough. If you're consistently profitable, simply increase the shares.
 Most of reversals fail, so make with-trend trades.
 Beginners tend to make reversal trades, so areas where they'd be stopped out would be good entries.
 Market usually makes 2 attempts to do something; if failure, it would do the opposite.
 Bail out if the signal bar is weak. E.g. a doji range bar or a bull trend bar on a L1/L2.
 Reversal long entries - if lower low then expect 2 legged up; if higher low, then perhaps only 1 legged up. (Reverse for reversal short entries.)
 Non-trending days: if long tails and overlapping bars during the 1st hour, then try fading at extremes. There tends to be 2 trading ranges.
 Trending days: may want to have a swing trade rather than just a scalp.
 Spike and channel trend day: a gap can be a spike; the channel would be in the direction of a spike.
 Scalping requires higher percentage of winning trades. Swing trades require less winning percentage.
 Only use 1 minute or 3 minute charts for with-trend trades, never counter trend trades.

[1der]

Man slices arms with saws at Calif. Home Depot

Read more: http://www.sfgate.com/news/article/Man- ... z2QAtJ1eyq

Wonder if this guy was short from last year ?