09/03/2013 Live Update

[joegamma]

another bullish divergence on R2K macd hourly...30min renko has dbl bottom and minor momentum bull divergences too, looks like they could try to punish some shorts?

I/T internals and vixxies are telling me stay short (with lotsa breathing room to add on upside )

[Cobra]

2nd leg up indeed. now volume surge again, not sure if it means pullback here or not as 15 min to close now.

[Cobra]

pullback, not good.

[joegamma]

Anyone have thoughts on outside day IWM?

[gappy]

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[Cobra]

well, guess that's it for today. Wednesday has been mostly bear friendly recently, down 5 out of last 6. thank you guys, I'll see you tomorrow.

before the close, please take a little time to vote for me, thanks. http://stockcharts.com/public/1684859/tenpp

[gappy]

Anyone have thoughts on outside day IWM?

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[Richarab]

After hours bots start right away.. Only way to perceive upward mojo I suppose

[joegamma]

Anyone have thoughts on outside day IWM?

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Thanks, seems a bit rich!
but perhaps thats where the PPT wants pomo to go

[gappy]

Anyone have thoughts on outside day IWM?

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Thanks, seems a bit rich!
but perhaps thats where the PPT wants pomo to go

salute.jpg

[joegamma]

After hours bots start right away.. Only way to perceive upward mojo I suppose

maybe that was the Capital Hill crowd liquidating holdings this morning?
tinfoil hats might find it fascinating that republicans were supportive re Syria, after the markets opened...

[rhight]

Well, I'm 1/8 long over night with a stop just below LOD. A big up day coming soon, or it will pop my balloon.

[Daniel-David]

XLB and XLK both traded above their 50day MA today but closed below. IYT and KRE both traded up to theirs, and also closed (well) below.

XLE and XOP both traded down to their 20day MAs but closed above.

Note earlier post by BullBear regarding energy sector strength.

glta

[fehro]

Anyone have thoughts on outside day IWM?

RUT tagged the 50 day from underneath, tagged down channel, while 2nd support trend line held.

[jack black]

OK, I've got a few noob questions:
1. How does stock price discovery work after hours. Is this based on trading in other markets (Europe, Asia, etc), or option trading, or what?
2. Maybe related to #1. How overnight gaps are produced?
3. How and if option trading can change stock price. For instance, if I buy gazillions of calls (say at a huge premium), is the underlying stock going to move?
Thanks!

[MrMiyagi]

OK, I've got a few noob questions:
1. How does stock price discovery work after hours. Is this based on trading in other markets (Europe, Asia, etc), or option trading, or what?

After hours market and futures market

2. Maybe related to #1. How overnight gaps are produced?

Yes.

. How and if option trading can change stock price. For instance, if I buy gazillions of calls (say at a huge premium), is the underlying stock going to move?
Thanks!

You jack up implied volatility, someone (big brother and his computer) notices and moves the stock accordingly with as large buy or sell. Probably against your trade....

[jack black]

Thanks MrMiyagi!
That helps.

Speaking about gaps, the way $CPC registered low reading today, I would not be surprised if we gapped lower tomorrow. But, I could be just speaking my book as I carry put positions overnight.

Now, where is that guy who thought ISEE index looked bullish to him?