07/18/2014 Live Update

[Junior Buffett]

can anyone please post volume chart for today? Is market going on higher volume?

Also, Cobra as S & P heading towards high again, you think third time touch will become charm and go towards 2000?

Thank you

[Cobra]

can anyone please post volume chart for today? Is market going on higher volume?

Also, Cobra as S & P heading towards high again, you think third time touch will become charm and go towards 2000?

Thank you

the more touch the more likely the breakout.

[Tutti]

can anyone please post volume chart for today? Is market going on higher volume?

Also, Cobra as S & P heading towards high again, you think third time touch will become charm and go towards 2000?

Thank you

Yesterday was July OpEx, so the volume was abnormally higher - that said according to investors.com nyse vol higher than yesterday

[BullBear52x]

Weekly candle. still bearish, Doji, Hanging man, and spinning top on these major indices/sectors if closed here.

[MrMiyagi]

spyX

[taggard]

Have you read this book?

Volatile Markets Made Easy: Trading Stocks and Options for Increased Profits (paperback) Paperback – December 31, 2012 by Guy Cohen (Author)[/quote]

i have not read this book--but would just like to pass along the idea that if you have not traded options before--trade them on paper by screen shooting the options chains for a while prior to getting into trading with a lot of money. taking screen shots of the whole chain or a section of the chain in several months will allow you to compare moves and risk carefully.

Options can work great--but they are more complex than some people point out. a 1 chapter "how to" may be all you need--but test it is all i am suggesting. Why paper trade using real time options chains and not just do "what options books say"? For two reasons--greeks work but intense situations amplify things. i have been in situations where the bid ask spread widened to bid .10 to ask 2.30 cents on what had been a 1.30 option with 5 cents total spread (it was an panic decline and i was trying to get longer--amusingly i could not get filled--but sold the calls i had for a better price--while the underlying stock was at a lower price--due to the insanity. very weird experience in real time--but was glad to have it)



another example of this sort of thing is the turn points spreads. so say you are in a decline and looking to buy calls--the price is usually pretty good. The second things flatten out and reverse--that price changes more than seems reasonable in many cases. Liquidity is key in options--this may or may not limit what you chose to trade. The first concern should be the spread on more obscure stocks etc--a huge spread and time decay--can really cut the margin of safety. if you place your self in a place where you need effectively 20% to break even not counting time--you can see the issue

so my point is just get used to the fluid nature of the whole thing first before putting capital at risk. once you get used to them options are lots of fun and can be quite effective. Finally if you have never traded options or futures--a good move is to look at both. options are often touted as safer as you can only lose what you put on the table--also it's easier to get a specific stock. Futures are mentally a bit cleaner.

Bottom line? good luck with your trades and if you have experience forgive the caution.

[MrMiyagi]

!!!! POWER HOUR !!!!

[BullBear52x]

GLD, I see a turn on GLD intraday, any time a new sell can not make new LL, watch out, someone is watching, do or die for GLD bears right here

[grandeG]

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198.18 here we come!

[Al_Dente]

I’m going on vacation tomorrow
See you next week
Thanks folks and good luck to all

[MrMiyagi]

198.18 here we come!

that's an end-of-day bar, it is not supposed to be reliable

[BullBear52x]

I’m going on vacation tomorrow
See you next week
Thanks folks and good luck to all

I am for two weeks, see you on west coast.

[BullBear52x]

stop become line in the sand, Peace!

[Out of Bounds]

I’m going on vacation tomorrow
See you next week
Thanks folks and good luck to all

Have fun and try not to check your phone.

[MrMiyagi]

Lucky bastards going on Holidays

[fehro]

SPX 15m.. well,well, well,.. that was a quick trip back up to the top of the triangle

[grandeG]

198.18 here we come!

that's an end-of-day bar, it is not supposed to be reliable

Whooooppss.... Thanks for the heads up!

[tsf]

Can anyone guess what we can make of these 2 block trades of different directions happening at almost the same time? Thanks.

BLOCK TRADE: $SPY 500,000 shares @ $197.82 [15:24:43]
BLOCK TRADE: $SPY 501,231 shares @ $195.72 [15:23:46]

[Cobra]

members only update at 3:48 pm
http://www.cobrasmarketview.com/2014/07 ... ay-update/

[Cobra]

well, guess that's it for today. Monday has been generally bull friendly. thank you guys, I'll see you in another thread soon.

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