09/16/2011 Intraday Watering

[uempel]

Update:

[jarbo456]

question for the board...

i pretty much day trade options, but the commissions on TOS are killing me. anyone know the cheapest/best execution option broker out there?

I tried that a few years back and found that my buys and sells were all a couple cents or higher.It did not pay off.

I thought I saw lightspeed being cheap. If you trade more than 5 contracts always than look at OptionsHouse

thanks. i'll take a look into it. i use "day trade" in the looses of terms. i often will keep some of the trade overnight if there's a good chance for a continuation. and you really have to be going for several hundred dollar minimum targets to make any money. i'm usually targeting 1k, but that also requires the draw-downs to be a little higher than normal as well.

[Cobra]

double bottom. unbelievable, the weakness was bought again.

[MajorEasy]

SPY Monthly - we crossed back below the 20 SMA. You could easily read this chart as Bullish or Bearish.

I don't think we get much below the BB(10,2) so I'm closing my short at 119.50 area. What? I'll take $2 anytime.

here's the same monthly chart, there's is nothing bullish about it.
but why would anyone use a monthly chart for a trading decision?

[uempel]

Waiting for SPX at 1228, but now it has tanked below DMA 377 (now at 1214) and I'm just watching and hoping there will be another run for a higher high so that I can short

SPX36.png

I have been waiting to add short at 1222. Not looking like it will make it at the moment.
I have to say the short I have on already feels terrible. Mr. Market is turning my intermediate signals green right as he is running into a serious resistance area.
Signals will whipsaw if market rolls over.
So, sticking to plan for now with a stop. Will reassess next week.

I can't trade this, no idea what's happening. I'm waiting for some statement such as SPX closing above 1215 (that would be bullish), a quick dash up to 1228 (very bearish), or some ugly news from some other bank: I don't believe that only one trader at UBS got caught wrong-footed when Swissie jumped 10% in 10 seconds. There must be more victims out there, the move was so violent. Some banks/hedge funds are hiding someting in their balance-sheets.

[uempel]

SPY Monthly - we crossed back below the 20 SMA. You could easily read this chart as Bullish or Bearish.

I don't think we get much below the BB(10,2) so I'm closing my short at 119.50 area. What? I'll take $2 anytime.

here's the same monthly chart, there's is nothing bullish about it.
but why would anyone use a monthly chart for a trading decision?

I do...

[brownstein00]

http://www.zerohedge.com/news/someone-d ... er-weekend

[Mr. BachNut]

I have a SPY Phantom Bar on my screen that goes to 121.57. I speculate that suggests The Force wants a close above 121 and below 122 for options expiration. We shall see.

[shumushu]

Wow $NDX is above the 200 day moving average.

[stockcycle]

The deep buyers are helping.

[Mr. BachNut]

I have a SPY Phantom Bar on my screen that goes to 121.57. I speculate that suggests The Force wants a close above 121 and below 122 for options expiration. We shall see.

I think I should have said the Dark Side of the Force...

[MajorEasy]

SPY Monthly - we crossed back below the 20 SMA. You could easily read this chart as Bullish or Bearish.

I don't think we get much below the BB(10,2) so I'm closing my short at 119.50 area. What? I'll take $2 anytime.

here's the same monthly chart, there's is nothing bullish about it.
but why would anyone use a monthly chart for a trading decision?

I do...

uempel,
Louise Yamada also uses a 20 ma on a monthly chart....
it's very similar to your 377 on a daily

[cougar]

A Pinocchio Wave for GS.
The SELL signal is waiting for confirmation.

[99er]

Honey...let's stop for lunch.
SPX http://99ercharts.blogspot.com/2011/09/spx_100.html

What...and have steak tartare?

[uempel]

What looked like a boring day is moving again . Check the green Fib-cycle:

[quientuves]

Cobra's target met.

[Cobra]

double bottom target reached.

[stockcycle]

Now, I think the selling pressure again at DJ 11,525

[Al_Dente]

http://www.zerohedge.com/news/someone-d ... er-weekend

shouting now THANK YOU

[SB73]

1216.72 is 78.6% fib retracement of sell off.