06/26/2012 Live Update

[stucap]

triangle until the close, guess we'll have to wait tomorrow for the next chapter. market always likes to do things like this.

i think the bears just showed you what they think of that pattern into close. don't believe it but resi holds.......

[Cobra]

triangle until the close, guess we'll have to wait tomorrow for the next chapter. market always likes to do things like this.

i think the bears just showed you what they think of that pattern into close. don't believe it but resi holds.......

[MrMiyagi]

I was hoping for a few days of greenery, not necessarily a rally. We'll see tomorrow, might still happen, I saw Michelle packing some shoes.

[CognitiveDissonance]

SWalsh, your point is taken.

I apologize for not banning the id immediately as I really didn't know that to do and I generally don't like to ban people. Gladly this problem is being taking care of, the id owner agrees to change id or have the id deleted. Thanks for TraderGirl reminding me.

For you, I'd really appreciate if you could limit your topic to trading only and take easy on others comments on you. I'm pretty sure nobody wants to attack you although sometimes some words are not properly chosen. But for you who had experienced the life and the death, those accidental wrong words should be way tiny tiny to you. I do hope you take them easy now and in the future and the most importantly enrich us with your years of trading experiences which we all really appreciate.

Cobra,

A few people have sent me very nice e-mails. I will stop. But I would like to point out a few things and then it will be done:

1- I told you by PM to just block that person on Saturday and you (inadvertently?) let a post of theirs stand Sunday night. THAT is what annoyed me.
2- A few decided to throw fire onto something they know nothing about. Well, there's never a shortage of matches.
3- As I told you in a PM, 10 years ago I was told I had a deadly cancer and would likely be dead in a year and to get any affairs in order before treatment. It was not just a deadly cancer, but a physically grotesque one to die from. The English language does not have sufficient words to relate the feeling of looking at your family after being told that. And a week later they did a 2nd biopsy and started an investigation at a TOP NYC teaching hospital as to how cells that looked fine could have had the pathologist write positive for cancer. The answer I received was that he did not perform the biopsy properly. There was no Divine Intervention (I wish), a busy lab screwed-up. It's why do do 3 in total before treatment begins. If anyone thinks insulting me means anything to me, and in particular after what I did on Wall Street for many years, well, enjoy yourself as I have ice in my veins to it. If anything, I might find this enjoyable. Tragedy? Comedy? Two sides of the same coin.

Thank you

Stand up comments Cobra, this is a great site!

[SWalsh]

To hold or not to hold overnight......... that is the question.

I don't know which is nobler. We have seen corrective looking moves turn into 50 pt SPX rallies to run-out shorts and then collapse. This doesn't look done on the downside, but I've yet to bet the farm.

[TraderGirl]

Was looking at the chart of SPY rather than SPX, it is underperforming SPX, and fell back into downtrend channel. Hit resistance at upper channel today...
SPX is below for comparison...

[xfradnex]

Daily Elders. Everything Red still. HDGE and UNG Green. Looked At the AAPL/QQQ combo; although it looked good because of the green over a few days, the difference (% wise) between the two stocks over the last week are negligible. I did notice that it looks like QQQ leads AAPL many times during the last month, using a comparison graph.

[pidge66]

What do you think about long AMZN short GOOG pair trade?

[xfradnex]

What do you think about long AMZN short GOOG pair trade?

Why GOOG? See graph. It Follows SPY. AMZN has a rising wedge that needs to make the last high. See arrow. It is on its way there, but could fail at any time. It has to be the obvious target. Better chances than SPY long. Good Luck. See my disclaimer.

[pidge66]

What do you think about long AMZN short GOOG pair trade?

Why GOOG? See graph. It Follows SPY. AMZN has a rising wedge that needs to make the last high. See arrow. It is on its way there, but could fail at any time. It has to be the obvious target. Better chances than SPY long. Good Luck. See my disclaimer.

Thanks for your opinion!

[ronrico]

Here's a bullish interpretation of indexes i found interesting.

http://chartistfriendfrompittsburgh.blo ... ition.html

[Petsamo]

OMG! Thank goodness I don't play earnings. RIMM just got slammed!