05/07/2013 Live Update

[Unique]

Bulls target hit with ease. I came in today with a pullback mentality so I missed all the run up, but I will not miss a run down if there will be one today

I've been having good success with buy stop at breakouts and sell stops at breakdowns so I don't miss intraday scalp/run fun. This way I'm less biased now, maybe this could help you too

[deeko]

Bulls target hit with ease. I came in today with a pullback mentality so I missed all the run up, but I will not miss a run down if there will be one today

hard to imagine a pullback of magnitude, given the run-up today, on very little news. Market bias is clearly to the upside. CPI and industrial production due out tomorrow. If the market is moving on nothing today, I wonder what tomorrow will bring?

[Mr. BachNut]

Bulls target hit with ease. I came in today with a pullback mentality so I missed all the run up, but I will not miss a run down if there will be one today

Intra-day MO reading overbought now.

[Unique]

AAPL $459 HORIZONTAL LINE UPDATE

[BullBear52x]

Bulls target hit with ease. I came in today with a pullback mentality so I missed all the run up, but I will not miss a run down if there will be one today

I've been having good success with buy stop at breakouts and sell stops at breakdowns so I don't miss intraday scalp/run fun. This way I'm less biased now, maybe this could help you too

Thanks, I am a slacker today, that's what I should do, one thing I am still good at is stop loss hey can't win everyday make you more human like

[Out of Bounds]

Thanks, I am a slacker today, that's what I should do, one thing I am still good at is stop loss hey can't win everyday make you more human like

I am just sitting and watching today. Still short but I'm not overly concerned.....yet.
Tired from yesterday's activities.

[toddymc]

Looks pretty toppy to me here Not saying we can't go higher but... if you were a MM
would you buy here with commercials net short interest huge and margin debt at record levels?
If so you would truly be a F'n idiot
IBM and AIG gap down and AAPL

[deeko]

Looks pretty toppy to me here Not saying we can't go higher but... if you were a MM
would you buy here with commercials net short interest huge and margin debt at record levels?
If so you would truly be a F'n idiot
IBM and AIG gap down and AAPL

I agree the market looks toppy, but these situations can persist for sometime, despite logic and reason.

[L_T]

Not go through? Why would trades that don't go through show up on a chart? Count me puzzled. And thank you for your answers, MrM. The pbars certainly do seem to indicate future targets very, very often.

Well that's just it JFR, these "feelers" that the BOTs send out (from our collective speculation) are not supposed to be on the charts, they get filtered out. It just happens that this particular broker's platform was designed by an old geezer and therefore the filter sucks, to our benefit.

Yes, I hear you, MrM. Perhaps the broker's bot is buying and selling to itself, as a mistake?

Whatever, we do benefit from the knowledge, and thanks again.

Remember HFT happens on a scale we have a hard time grasping: there can be THOUSANDS of bid/ask "messages" going between trading bots in the span of a FRACTION of a second. It makes a 1-minute chart look positively slow in comparison. The link I posted earlier gives a great visualization and the video plays on a time scale of milliseconds which completely inconceivable to a human being.

Did you ever see the movie "Inception" where they talk about time slowing down in a dream? HFT's are so fast that it's like they live in a dream world and we live in reality (I chose those words carefully give them meaning as you will).

[L_T]

Thanks, I am a slacker today, that's what I should do, one thing I am still good at is stop loss hey can't win everyday make you more human like

I am just sitting and watching today. Still short but I'm not overly concerned.....yet.
Tired from yesterday's activities.

Decided to swing a hammer with your contractors eh?

[deeko]

It's been a strong move in a short time. The S&P was below 1600 late last week, but as of now, it's hard to imagine getting back below 1600 because of how bullishly biased things seems to be. Recent economic data has not been supportive of the move up in recent weeks.

[Unique]

Bears are really MYTHICAL CREATURES

[Darkmatter]

I'm feeling a rather lively sort of panic starting to set in.

http://youtu.be/cKKHSAE1gIs

[BullBear52x]

I'm feeling a rather lively sort of panic starting to set in.

http://youtu.be/cKKHSAE1gIs

How much do you want Dr. evil? we will get the printer ready.


Talking Dr. Evil, KeiZai need to get back up form his under ground layer

[joegamma]

everyone making new highs but iwm is lagging here, are intraday bkx, iyt xlf looking a bit parabolic to anyone else? I wonder if that hints that broader market of midcaps means this rally is shortcovering big-shorted names?

buying a few puts for a small dip today to 9540/60 opening range (countertrend-smal lot ), still own some calls and looking to exit them today or wednesday, GL

[TWT]

SPX: Follow up of the ED "project"

[Cobra]

volume surge, biggest bar, first touch of EMA20, might see rebound soon.

[toddymc]

Looks pretty toppy to me here Not saying we can't go higher but... if you were a MM
would you buy here with commercials net short interest huge and margin debt at record levels?
If so you would truly be a F'n idiot
IBM and AIG gap down and AAPL

I agree the market looks toppy, but these situations can persist for sometime, despite logic and reason.

Expecting a push to new highs tomorrow, holding puts till EOD though pattern is looking similar to 4/09-4/10
EOD sell off then gap and go to new highs
Unless of course this is the top... doubt it though

[BullBear52x]

Really, bearish island reversal setup is all over the places, well, wait to see until it happens I guess.

[TraderGirl]

If this count is correct...it argues for a pullback...

Astro wise...may not see a top of some kind until the end of the month....