01/06/2014 Live Update

[Cobra]

rebound as expected (also made the l3 short fail), now let's see if l4 on double top works. lots of people simply don't trade beyond h2/l2 though.

[gappy]

[quote="Cobra"]in reality trading, I actually like another rebound to make a small double top then short lower low (in our case l4). The same double top happened in the morning, see other pair of red arrows? That was perfect l2 short.[/quote]
Yes.[attachment=1]popgun.png[/attachment][attachment=0]Capture.PNG[/attachment]So what’s so special about the Popgun? It introduces swift, tradable moves in price. More importantly, once the moves end, they are significantly retraced, just like the popgun cork going out.http://www.stocks-trading-strategy-and- ... ttern.html

[Cobra]

if you don't day trade, why still watching day trade comments are important?

because day trade setups can be applied to daily and weekly chart. You don't have lots of chances to apply your skill on daily and weekly chart, do you? So it's very hard to improve your skill. While day trade is different, the same setup can repeat everyday several times, so you have plenty of times to practice your skill and improve it. You don't need actually trade to improve skill, just the setup keep repeating gives you good chances to practice.

[Al_Dente]

Old news (pre-market today)
“Fall in Chinese services PMI indicates slowdown is broad-based.
Chinese HSBC services PMI dropped to the lowest level since August 2011, falling to 50.9 in December from 52.5 in November. The decline mirrors a drop in the official print and in manufacturing PMI, suggesting that the slowdown in the economy is broad-based. The latest reading was one factor that helped drag down Asian markets today amid fears that China's deceleration will continue in Q1.”
[usually PMI below 50 = contraction, but China has a way of fixing anything/everything, so ... grain of salt...]

[Al_Dente]

I don't recall I searched any clothing or baby stuff, but here's the ad appear on my screen now. Most frequently sites I see are "friend making" sites, although I don't recall I'm trying to find any soul mate online for many many years...

THAT WAS FUNNY

[Cobra]

well, congratulations, you nailed on l4 double top short!

[Cobra]

every time 2nd test of the previous low, 50% chances of reversal, so let's see if those aggressive buyers coming.

[fehro]

cracking...or head fake?... not confirmed by the VIX yet... INDEX 5m

[MrMiyagi]

Cobra, is it possible to apply your analysis to weekly charts?

[Cobra]

Cobra, is it possible to apply your analysis to weekly charts?

Yes, of course. Just it may take even years to prove the setup indeed works. While on 5 min chart, you'll know if your setup work or not in the next 10 minutes.

[Al_Dente]

Banks have been strong (but a bit weak today)
Here are a few: one month % performance, hourly, with SPY in purple for comparison:

[MrMiyagi]

Yes, of course. Just it may take even years to prove the setup indeed works. While on 5 min chart, you'll know if your setup work or not in the next 10 minutes.

Thanks!

Just a reminder, Q1 earnings start Thursday with Alcoa.

[Cobra]

possible 100% mm.

[flumanchu]

POMO money should be deployed this afternoon or tomorrow - tho a little lite. Might find a temporary bottom soon:

Mon, Jan 06, 2014 Tue, Jan 07, 2014 Outright Treasury Coupon Purchases 02/15/2036 - 11/15/2043 $1.00 - $1.50 billion
Tue, Jan 07, 2014 Wed, Jan 08, 2014 Outright Treasury Coupon Purchases 02/15/2021 - 11/15/2023 $2.25 - $3.00 billion
Wed, Jan 08, 2014 Thu, Jan 09, 2014 Outright Treasury Coupon Purchases 02/15/2036 - 11/15/2043 $1.00 - $1.50 billion
Thu, Jan 09, 2014 Fri, Jan 10, 2014 Outright Treasury Coupon Purchases 11/15/2024 - 02/15/2031 $0.60 - $0.90 billion
Fri, Jan 10, 2014 Mon, Jan 13, 2014 Outright Treasury Coupon Purchases 10/31/2019 - 12/31/2020 $2.50 - $3.50 billion

[TraderGirl]

No worries

I don't recall I searched any clothing or baby stuff, but here's the ad appear on my screen now. Most frequently sites I see are "friend making" sites, although I don't recall I'm trying to find any soul mate online for many many years...

Exactly my point! That's why I don't believe it's based on search history....

[MrMiyagi]

Exactly my point! That's why I don't believe it's based on search history....

I think it is like most Hollywood movies, "loosely based" on reality.

[fehro]

VIX 15m.. another tiny triangle in a possible bullish falling wedge...

[Cobra]

lunch time, will be back. I'm neutral as it's the 2nd test of day low, so 50% chances the low was in, need wait until very late.

[TraderGirl]

Exactly my point! That's why I don't believe it's based on search history....

I think it is like most Hollywood movies, "loosely based" on reality.

[fehro]

VIX daily battle @ 50d SMA