11/04/2011 Intraday Watering

[tdo722]

Would anyone care to explain why 1243 ES daily pivot got the knife despite being aligned with 5 minute VWAP?

And then why it kept going down until 1235.75 before it bounced?

Just trying to figure out where I went wrong?

Very simple to explain, since when stock trading is science? best trading program never claim 100% accuracy. Trading is more of an art than science IMO

I hate art. When art is involved, emotion is also in play. I lost a lot of money in the past because of emotion.

[xfradnex]

PAGING XFRANDEX
Thank you.
Indulge me for a moment as I cut/paste a portion of your kind comment to me after-hours, as some folks on this board do not understand the respect you show to your elders and wisers.

“Mr. Dente. I respect your work. Do you have an opinion about going short tza and tna (equal dollars) continuously. ….”

I don’t do any pairs trading, so unfortunately I can’t help you with that one. I favor very simple day-trading, if/when $RUT is the strongest percentage gainer intraday, I might long juiced UWM or super-juiced TNA, if $RUT is weak, I may long TZA….. and continuous to me means the full trading day, and usually flat at the close. The juiced ETFs do not work for me on longer holds.

As a small token of my appreciation, I will share with you all that I have: a chart, a quote from the master, and a song.
First the chart: IWM daily… I loved it last night….hate it this morning
http://stockcharts.com/h-sc/ui?s=IWM&p= ... listNum=15
The master: “Put your hand on a hot stove for a minute, and it seems like an hour. Sit with a pretty girl for an hour, and it seems like a minute.
THAT'S relativity.” [Albert Einstein]
The song: http://www.youtube.com/watch?v=Am05yZeh ... re=related
PS: please feel free to call me “Dr. Al”

Dr. Al. Thanks. I think the reason "the foes" do not have respect is because they can't get their hand off the stove. When your hand is burning, you usually have nothing nice to say.

Over a period of 3 months, a short TZA/TNA combo can yield 15% without any analysis work; the issue is tax implications.

[Dow Trader]

Would anyone care to explain why 1243 ES daily pivot got the knife despite being aligned with 5 minute VWAP?

And then why it kept going down until 1235.75 before it bounced?

Just trying to figure out where I went wrong?

I think this chart will answer your question

[qtipped]

Primary count is on track. Not sure why anyone here wants to long right now. I put a circle to where this C Wave is heading.

it seems everyone was bullish and long yesterday...others i spoke were so optimistic...msg boards were all bullish with very few bearish comments...if any, they were in pain and desperate. even i was expecting a gap up towards 128...weird how sentiment changes so quickly....crazy times...

I wasn't Bullish. I posted on this Board I shorted at 1,250 and I held through the squeeze up.

i meant bullish on other msg boards like daneric...folks here tend to be more bearish..

[pady]

I hate art. When art is involved, emotion is also in play. I lost a lot of money in the past because of emotion.

Totally agree. This is where PREPARATION and PATIENCE comes in. Habits of highly successful people. I still dont do it. I read somewhere that the number one mistake traders do is they dont know when to exit. ( Like me holding Lucent from 2000 ).

[buyorsell]

Would anyone care to explain why 1243 ES daily pivot got the knife despite being aligned with 5 minute VWAP?

And then why it kept going down until 1235.75 before it bounced?

Just trying to figure out where I went wrong?

Very simple to explain, since when stock trading is science? best trading program never claim 100% accuracy. Trading is more of an art than science IMO

I hate art. When art is involved, emotion is also in play. I lost a lot of money in the past because of emotion.

I agree with BullBear52x. Trading is art. That's why we have to keep revising our trading system.
Cheers!

[Cobra]

L3 short. not perfect signal bar, but better than that L2 short which was a failure because the signal bar was a bull bar.

[BullBear52x]

5dma support, short term MACD now turning bearish and so's RSI

BB all day yest your 5m MACD signaled buy, and yr RSI above centerline also buy yest
Don’t understand why a smart shark like u avoided the low-hanging fruit yest, munching on a bit of bull?

My combination are mixed with all sorts of chart pattern, Fib, daily candle... continuation trade and counter trend are two animal, when I pick my move I will have to recognize those basic rule if I am counter trend or continuation play.

[Al_Dente]

PAGING DRL
“Al Dente, For EUR/USD I use freestkchts, but need to add FOREX exchange under tools…”
Of course ! Brilliant. THANK YOU
Internals update: http://stockcharts.com/h-sc/ui?s=$NYDEC ... =246211365

[tdo722]

positive d is forming on 5m. needs to go below 124.01 to confirm and that's where I will also jump on the bull train for a quick scalp. could be more than 30 pretty pennies.

[jarbo456]

Would anyone care to explain why 1243 ES daily pivot got the knife despite being aligned with 5 minute VWAP?

And then why it kept going down until 1235.75 before it bounced?

Just trying to figure out where I went wrong?

I think this chart will answer your question

looks like we need to significantly take out 1236 for you to be bearish dow?

[Cobra]

by the way, gap down, lower low after 10:30am ET, so 90% chances Open > Close today.

[Dow Trader]

For swing traders, watch YM if went below 11780, very important

[silicon_beaver]

FAS in range 13.5 - 13.9. hard to play.
stay sideline.

[fuddleduddle]

Anyone know what time the Greek confidence vote will be held today?

[pady]

Visit to 124.8 ?

[silicon_beaver]

by the way, gap down, lower low after 10:30am ET, so 90% chances Open > Close today.

Thanks Laoda.

That's main reason I closed this morning my FAS position.

[Dow Trader]

Would anyone care to explain why 1243 ES daily pivot got the knife despite being aligned with 5 minute VWAP?

And then why it kept going down until 1235.75 before it bounced?

Just trying to figure out where I went wrong?

I think this chart will answer your question

looks like we need to significantly take out 1236 for you to be bearish dow?

yes, I agree .. and the first sign of weakness will be if YM went below 11780

[stucap]

Would anyone care to explain why 1243 ES daily pivot got the knife despite being aligned with 5 minute VWAP?

And then why it kept going down until 1235.75 before it bounced?

Just trying to figure out where I went wrong?

I think this chart will answer your question

looks like we need to significantly take out 1236 for you to be bearish dow?

Thanks all for your opinions. I'm trying to take emotion out of the game but it seems that the trades that I don't take---go my way, and the ones that I do---don't. I need to trade them all with a reasonable stop. Anyone have any suggestions for where to place a stop when trading ES?

[Cobra]

it was a good L3 short, now volume surge, looks horrible for BEARS, so rebound. I still cannot believe we're once again only 1 legged down!!!