10/03/2013 Live Update

[MrMiyagi]

End of sell program at 167.60$?

[Out of Bounds]

[McEnroe]

[fehro]

Capitol building in lockdown mode.. gunshots.. CNBC SPX 15m

[Mr. BachNut]

Random thoughts:

No easy for bears principle remains in effect. Expect squeezy spikes on rumors/event flow.
Shorts may not want to hold over the weekend and risk a deal getting done in Washington. Bounce before Friday close?
SPX is back in a strong support zone. Early shorts take profits here.
However, possible downside targets are on the radar.
Good probability (non) negotiations in Washington will go to the brink even though a deal probably happens.
In the days ahead, the jackals may want to operate trade to below the November low rising bottoms trend line or under the August low to shake out longs before the next uptrend.
Break of current support/VIX > 19 may be the tell.
I have no idea what will actually happen.

My setups will probably keep me short to have a shot at further downside. (I may trade around the position a bit.)
It may work out or it may not.
They are setup to capture asymmetric reward to risk if it happens. I don't know if it will happen.

SPX Downtrend 2.jpg

Thanks MusicMan for holding your line, appreciate that you bare your thoughts and positions on the board.

FYI, IWM tends to see a bounce of 1 points + , whenever NY DwnVolume exceeds 80% / upvol falls to below 20% (casual glance-not statistical-ignoring large gaps down)
look at $nyupv:$nytot, fwiw

Each year, my important profits come from a small percentage of trades that run.
I have yet to receive good notice in advance (not even from Cobra) as to which ones those will be.
On numerous occasions, I have exited a trade for the quick profit only to see the real moneymaker run away after a pullback.
I am just not quick enough to work all the zigs and zags profitably, and trying to tends to mess with my head.
So, I try and stay in the trades if I can. I'll absorb some bloody noses in order to let the stats and the trends play out if that is what is meant to be.
Now if someone could tell me where were going here for real, I'd really appreciate it...

[Cobra]

pullback is larger than I'd like to see. I'm neutral.

[Out of Bounds]

The main house (which is still not complete)

Jealous! I would be sitting in that couch with a laptop doing my work every day!

What is the cinder block building with the big cut-out going to be?

Office/Man Cave

[fehro]

The main house (which is still not complete)

Jealous! I would be sitting in that couch with a laptop doing my work every day!

What is the cinder block building with the big cut-out going to be?

Office/Man Cave

sweet!

[Cobra]

targets on either side.

[Darkmatter]

Heard that. Have bots no shame, selling on that news? I guess we've established they do not lol. Not like every retail investor just heard that and said, OMG the government will collapse, sell sell sell!

Initial reports said it was inside the Capital, but that was subsequently corrected, hence the drop and pop.

Capitol building in lockdown mode.. gunshots.. CNBC SPX 15m

[Al_Dente]

Rob Hanna:
“…a strong possibility that ES is going to close below its 50-day moving average for the 1st time since September 6th….I thought I would examine what crosses of this line have meant for the nights following them.”
[spoiler alert: buy ES on close, sell on open tomorrow = 65% edge, IF WE CLOSE BELOW 50dma]
http://overnightedges.com/1648/nights-a ... -its-50ma/

[fehro]

Heard that. Have bots no shame, selling on that news? I guess we've established they do not lol. Not like every retail investor just heard that and said, OMG the government will collapse, sell sell sell!

Capitol building in lockdown mode.. gunshots.. CNBC SPX 15m

average shelf life on a 25% of stocks .. in other words how long they are held is now less than 1 second!

[MrMiyagi]

qqq

[Al_Dente]

Capitol building in lockdown mode.. gunshots.. CNBC

http://www.bloomberg.com/tv/

[MrMiyagi]

Shine on you crazy DIA.....

[Out of Bounds]

Just tried about a hundred different plots on the 15 minute SPY and I see not pattern at all. Anyone else have anything? Maybe something new (Head and buttocks, inverted amoeba)?

[Out of Bounds]

CNBC is in full hysteria.

[Darkmatter]

So the SPY and the DIA will go back up to where they started today, and then most likely crash again? lol how fulfilling.

1716.png

[Al_Dente]

"shooter is in custody"
bloomberg

[tonghu]

ru kidding? bull's back? or it never left?

1716.png

[Out of Bounds]

"shooter is in custody"
bloomberg

Thanks. I'm still listening to CNBC's morning zoo program.