06/27/2012 Live Update

[Al_Dente]

WOW
See that final 1 min spike volume on SPY
2.1 million shares last minute BUY
MOC orders and such

what a day.........
oy

[TraderGirl]

SLV??

[Al_Dente]

Edit: I ABSOLUTELY DO NOT MEAN TO IMPLY that it is EVER a good idea to enter any order MOC or MOO,
or anything other than a limit order
LIMIT ORDERS R BEST
IMHO

[Auole]

As usual, late. Quick intro to the ShadowTrader TICK special for ES daytraders. Very hard day to read today.
A simplified note on how to read it is on the chart. Basically, showing weakness through latter up
price trend.

[KeiZai]

SLV??

Uf TG hopefully not I am frontrunner in this one wanna take some profit tomorrow then it can go down, my prefered bottoming cycle is around mid july...you scared me now a bit wish me luck and thanks 4 charts - love them <3

[SWalsh]

A comment on bots....

Programmers are people. People program "bots." Bots exacerbate the trading behavior of...traders. The bots are just more 'disciplined' about what they do, since the programmers' emotions are hardwired. Consequently, we get even faster selling / buying when trigger points are met (which are mostly shared anyway, as programmers try to use the data they gather from the markets...a vicious, redundant, self-serving feedback loop!). Bots are weapons of self-destruction, wielded by a different class of sheeple, IMHO.

The mkts used to be every predictable, and if you knew what you were doing very easy to trade, based on fear and greed. With the public gone and computers here they are hunters. The do not remotely exhibit the behavior of traders other than the worst of traders - floor traders knowing where all stops are and running them 100% of the time. They do not even fear the night. They run tricks on slower bots to trick their slower algorithms. They are selling anti-HFT programs now because it is almost impossible for them to lose. That trader does not exist.

The mkt has changed like never before. "Conform or be cast out"

[noob]

green vix!

red. sorry.

Damn! If i remember correctly, both spx and vix green higher chance of red next day.

[Cobra]

green vix!

red. sorry.

Damn! If i remember correctly, both spx and vix green higher chance of red next day.

not very high chance, only 60%.

[tradematti]

hi cobra ,

you saying this is a bear flag , yet you went long this morning ?

[Anaconda]

A comment on bots....

Programmers are people. People program "bots." Bots exacerbate the trading behavior of...traders. The bots are just more 'disciplined' about what they do, since the programmers' emotions are hardwired. Consequently, we get even faster selling / buying when trigger points are met (which are mostly shared anyway, as programmers try to use the data they gather from the markets...a vicious, redundant, self-serving feedback loop!). Bots are weapons of self-destruction, wielded by a different class of sheeple, IMHO.

The mkts used to be every predictable, and if you knew what you were doing very easy to trade, based on fear and greed. With the public gone and computers here they are hunters. The do not remotely exhibit the behavior of traders other than the worst of traders - floor traders knowing where all stops are and running them 100% of the time. They do not even fear the night. They run tricks on slower bots to trick their slower algorithms. They are selling anti-HFT programs now because it is almost impossible for them to lose. Care to show me that trader?

The mkt has changed like never before. "Conform or be cast out"

I hear you and don't dispute most of what you say above. Where we also agree - but where I think the "invincible bot" theory breaks down - is where you point out that "they are selling anti-HFT programs now..." It underscores my point about them: they are programmed by people and are therefore fallible. The losing programs are re-programmed to make up for the mistakes that led to losses, which leads to reprogramming of the other side...etc....It's the military "arms race" equivalent within in the financial world. People set the rules by which the bots act. This led to the May bidless 1000 point drop. It has led, I suspect, to most of the other "fat finger" adventures the market has been on over the past 10-15 years.

A

[Cobra]

hi cobra ,

you saying this is a bear flag , yet you went long this morning ?

again and again and again, what I trade or said here is for day trading only. Everything ends when the closing bell rings.

Bear Flag I report in the nightly report refer to a few days trend, nothing to do with day trading.

Be sure you know the time frame I'm talking about.

Looks like I need point out this in every of my daily live update.

[KeiZai]

Still long ERX (not a recommendation). This move continues to mirror beginning of June. Appears to be fighting the 50% level right now. Will likely be out by the end of the day.

Almost 1/5 of ERX is XOM+CVX.

I didn't know that Unique, thanks! I'm completely out now, this market market makes me nervous and the 50sma on 60 min. is providing some resistance for XLE. Locking in 5.5% for 2 day holding so I can continue to play

ClarkW if you are back in ERX keep an eye on CVX - is close to short IMO

[happychen]

what is a "bot selling"? I googled it but did not find any clue. thank you

[ClarkW]

Still long ERX (not a recommendation). This move continues to mirror beginning of June. Appears to be fighting the 50% level right now. Will likely be out by the end of the day.

Almost 1/5 of ERX is XOM+CVX.

I didn't know that Unique, thanks! I'm completely out now, this market market makes me nervous and the 50sma on 60 min. is providing some resistance for XLE. Locking in 5.5% for 2 day holding so I can continue to play

ClarkW if you are back in ERX keep an eye on CVX - is close to short IMO

CVX2.png

Thanks for taking the time to post this chart KeiZai! Honestly, I've had regrets about that purchase ever since I made it. I bought EDZ after selling ERX, then saw the move up in oils/market afterwards and while I didn't want to sell EDZ decided to buy ERX as a hedge against a gap up tomorrow. Right or wrong, it's what I did and was emotional. So I'm essentially flat (in my mind) into tomorrow's open, will make adjustments then based on the market.

Thanks again for posting that chart!

[Al_Dente]

what is a "bot selling"? I googled it but did not find any clue. thank you

Happy
Bots = robots
Program trading
Computers programmed to “hit” the buy/sell button at certain predetermined levels… to accomplish large-block or "aggregated" trades
Algos = algorithmic trading systems
We watch bots etc. via the VOLUME spikes on the one minute SPY chart

Also HFT high frequency trading
There are HFT "watch" software programs available for cheap, eg: google “HFT alert” for one

[snakehead]

ALL the vixies are leading bear-spy
But spy insists on dicking around at VWAP

What does VWAP stand for?

This is one of the only acronyms that u guys toss around that I am not familiar with.

[Al_Dente]

ALL the vixies are leading bear-spy
But spy insists on dicking around at VWAP

What does VWAP stand for?
This is one of the only acronyms that u guys toss around that I am not familiar with.

volume-weighted average price
i think almost all platforms have it (?)

[Sleeperz]

Natural Gas, UNG-Z, HNU-T had a reversal day today. Tomorrow inventory report.







http://finance.yahoo.com/news/natural-g ... 18958.html


-sz

[happychen]

what is a "bot selling"? I googled it but did not find any clue. thank you

Happy
Bots = robots
Program trading
Computers programmed to “hit” the buy/sell button at certain predetermined levels… to accomplish large-block or "aggregated" trades
Algos = algorithmic trading systems
We watch bots etc. via the VOLUME spikes on the one minute SPY chart

Also HFT high frequency trading
There are HFT "watch" software programs available for cheap, eg: google “HFT alert” for one

thank you very much

[xfradnex]

Daily Elders. Alot of new Blue in the markets. UNG still Green. Added JNK/LQD and HYG/LQD.