02/06/2012 Intraday Watering

[trendfollower]

Stock market article with interesting charts: "Was Friday’s Price Action in Gold Signaling a Top in the S&P 500?"

http://goo.gl/F3Oyl

[SWalsh]

A MUST WATCH "RISE OF THE HFT MACHINES" VIDEO

You designed a trading system and think it won't blow-up fast? Think again. They program these things to locate every trading model and use it against the trader.

You will see a little activity in 2007 and then what looks like the raging fires of hell all day long by machines. Think you have a "feel" for the market? That is now relegated to being delusional and shortly will be a new entry into the DSM-IV

http://www.nanex.net/aqck/2804.HTML

Petition to stop this:

http://www.nanex.net/Research/QuoteStuf ... anned.html

This is why you must visit the Nanex site and click the links to ask the SEC to stop this practice or you will have no interest in the market as there will be none. THIS MUST BE STOPPED! It's not that they are better, it's that by the time you think and send the signal from your brain to click the mouse to enter the order the mkt has been taken away from you due to both their speed and the privileged knowledge given to the HFT traders.

I don't know if it is still done, but one smaller exchange was giving machines a 1/2 second look before others for a premium. That they were not immediately jailed for such a thing is an outrage!

[SWalsh]

IMO few things are more dangerous than using Elliott Waves as one's primary tool for trading decisions, but they merit a slot on the tool belt. I believe the market does tend to move in identifiable Elliott Wave patterns, but that doesn't mean it's got much predictive power.

Watch that Nanex HFT video as it will explain why if you have used EW for a while you have seen it breakdown.

Nice chart...does it come in a down version?

[usctrojan99]

My target on this run to 1375 before any meaning full pullback.

[57chevy]

Nice chart...does it come in a down version?

You betcha Walshie.

[thanos]

Sure is alot of people guessing at what the market will do. Why not try and understand what it has done and mark a point to either exit or enter. Here is mine - long since Dec 20 and stay long until 1330 is broken with a loss of upward momentum. Very simple.

Good luck.

Wow! thanks!

Yes, nice what an insightful.

Yes it is insightful if you understand it. You can follow all the charts in the world and it won't tell you a thing about tomorrow. I find it laughable when i read these forums and people talking about HFT and everything else they know absolutely nothing about. Or the folks that look at sometime like the TRIN and its magic predictive power. LOL! The majority of the high school drop outs here with their disillusions of day trading for a live have zero clue as to how these indicators are even calculated. The EMA of the EMA of the EMA. That is laughable.

But yes you and waverider (who i believe went short on Friday probably based on 'gut feeling') laugh when i provide something so simple. Good luck to you and your TRIN! LOL!

[xfradnex]

I guess I like OH 8 or 1352 (like 4 or 1248) for tomorrow, with no bad/good news; with good news I will take OH +14.5 . For OL I will take -4 or 1340 (on bad news -10, on real bad news -15). I guessed the low correctly yesterday with a bit of luck. I think the Greece finance solution hanging over our heads limited volitility somewhat today limiting upside.

[SWalsh]

Nice chart...does it come in a down version?

You betcha Walshie.

Now to me, the upside down chart looks like a perfect channel to turn violently up from inside of. So flipping it around, it's just a matter of time. But what time?

Thanks

[SWalsh]

I guess I like OH 8 or 1352 (like 4 or 1248) for tomorrow, with no bad/good news; with good news I will take OH +14.5 . For OL I will take -4 or 1340 (on bad news -10, on real bad news -15). I guessed the low correctly yesterday with a bit of luck. I think the Greece finance solution hanging over our heads limited volatility somewhat today limiting upside.

The issue that remains fascinating is that the still believed to be hegemonic powers are coming to one decision and one decision only: who eats the default?

Whether they are bailed out or not is not going to matter to the Greek economy from the people I know with family there. Their lot will not be improved. To listen to Max Kaiser, who is a great showman but also a bright guy, they are merely deciding how to divide the spoils right now. I would think this should be a case of buy the rumor and sell the fact and question when they get around to our situation. But the market can, and will, do anything until such time that reality is thrust upon it (Dot-Com anyone?)

[SWalsh]

Sure is alot of people guessing at what the market will do. Why not try and understand what it has done and mark a point to either exit or enter. Here is mine - long since Dec 20 and stay long until 1330 is broken with a loss of upward momentum. Very simple.

Good luck.

Wow! thanks!

Yes, nice what an insightful.

Yes it is insightful if you understand it. You can follow all the charts in the world and it won't tell you a thing about tomorrow. I find it laughable when i read these forums and people talking about HFT and everything else they know absolutely nothing about. Or the folks that look at sometime like the TRIN and its magic predictive power. LOL! The majority of the high school drop outs here with their disillusions of day trading for a live have zero clue as to how these indicators are even calculated. The EMA of the EMA of the EMA. That is laughable.

But yes you and waverider (who i believe went short on Friday probably based on 'gut feeling') laugh when i provide something so simple. Good luck to you and your TRIN! LOL!

THE MAJORITY OF HS DROPOUTS HERE?

Why sir, you do insult me (and others).

How about this. If I can prove my IQ is higher than yours, will you apologize to the board and leave? And while you're comtemplating new imbecilic lows, how about posting your curriculum vitae as well as your trading experience and the massive profitable history you allude to? We all wish to learn the road you took as well as which infomercial set you upon this path of wealth.

But on a very serious note, I'm sure that a number of people reading this board, who never post here, are probably trying to learn how to make a living after losing jobs and such, yet you speak to them like they are the unwashed yet you know nothing. If I can help them in any way, shape, or form I will. I think Cobra does a great job, yet you mock his board. I save that for my enemies and clowns. Take your pick.

To post that you bought the low weeks ago and are sitting on the position did not receive any applause. I suspected that it would not. Is your ego so frail that you must post a winner, although it is doubtful to be true? Your post provided nothing of worth yet you ridicule others. Now THAT is "laughable".

I suspect your bridge is missing you. Maybe we can open 1000 lower and you can kick the dog again.

Infinitus est numerus stultorum (yes, the Christian Brothers made me take 2 years of Latin in HS)

[thanos]

Yes the sore losers alway doubt the winners. Sorry to have offended you mr high IQ or should I call you the trading Jesus with you trying to help the masses like you do. Enjoy your HFT videos (you do know that HFT is an acronym right?)

[SWalsh]

Yes the sore losers alway doubt the winners. Sorry to have offended you mr high IQ or should I call you the trading Jesus with you trying to help the masses like you do. Enjoy your HFT videos (you do know that HFT is an acronym right?)

Don't try to debate me. You will be sliced and diced as you are a rank amateur of marginal intellect.

No curriculum vitae I see. It figures.