07/13/2012 Live Update

[Unique]

waiting for 1347.5 in ES to open shorts - just for scalp

Nice, right on the mark!

[Al_Dente]

15 min
nyadv ~2400, strong “bull trend day” so far

[Anaconda]

Colleagues: Not gloating, just sharing my luck (because that's what it mostly was)...but guess who bought 20 SPY JulWk2 $134 Calls yesterday, at $0.45? Just closed 15 of 'em at $1.18. Nice way to end an extremely f'd up week of trading.
GL,
A

[ClarkW]

First I want to give a HUGE THANKS to COBRA! He puts it all out there, making calls every night and all day. Lots of pressure and yet he continues to do an amazing job!

Second, thanks to everyone who, yesterday afternoon, we providing reasons for covering shorts and some going long. I sold all my shorts and bought some TNA/EDC (1/2 positions) which is working out nicely.

I hope everyone appreciates how great this board is. It doesn't get filled with the typical "distractions" that most do. Keep it up ladies and gents!

[TradingJackal]

Look at the TICK this morning. Wow!

[Mr. BachNut]

Short.
Opened 1/3 position this morning on the initial spike.
I had one sell signal confirm yesterday and one not confirm.
I'll add another 1/3 at higher prices probably next week as OPEX approaches.

I don't like shorting into the maw of an anticipated rebound, but I want respect my signals.
If the rally is vigorous, this will get stopped out.
If it peters out, it will have a chance.

[soku]

kena. me out. target is 1350ish but it is too fast too ob now. not worth holding.
my hedge on china gdp took away lots of my profit.
plan for the next move.

[Anaconda]

Short.
Opened 1/3 position this morning on the initial spike.
I had one sell signal confirm yesterday and one not confirm.
I'll add another 1/3 at higher prices probably next week as OPEX approaches.

I don't like shorting into the maw of an anticipated rebound, but I want respect my signals.
If the rally is vigorous, this will get stopped out.
If it peters out, it will have a chance.

Covered and joined you short, to SPY $133.65.

[Petsamo]

Bad luck day for da bears

How did this play out in comparison to your spreadsheet?

My spreadsheet assumes a rally on a gap up or a sell off on a gap down. Sometimes markets do the opposite. Reliability is lousy.

GXC & FXI (both China) had mixed signals but favored a gap down.
INP & EPI (both India) favored a gap down.
EWJ (Japan) was flat.
EWG (Germany) favored a gap up.

I could do a study, but I'm just lazy and it's been a while since I conjured up the formulas.
It seems that if I expected a gap up and we get a gap down, there's a good probability that the markets will rise to higher prices, as if we gaped up, and versa vice.

The spreadsheet generates a target close, but it's risky as anything to place bets that prices will head towards the target close. For instance, EPI (India) is sitting very high. You could short it, but it's risky.

Japan opens first. If it predicts a gap up, and Japan does gap up and rally, it could throw off China's predicted gap down. So, Japan is sometimes a wild card.

[SWalsh]

No computers....no rally

[KeiZai]

euro - breakout would be quite bullish IMO

[stockcycle]

the ew counts really ius giving me a headache. It's good thing I dont know how to count waves.

Sometimes overbought, oversold, sentiment, moving average work better than EW.
If I cannot eat EW. I will consider EW counts as a spices in a soup.

Im with you and I prefer Cobra's techniques over ew any days

Thank you and thank Cobra, whatever technique can help you to make profit, it's your treasures

[Harapa]

This move has broader market support despite sluggish AAPL.

[EvilTrader]

"I dont question, i dont know, i dont want to know, it cant be known, i just follow price."

thats my new mantra.

[TraderJoe]

Short.
Opened 1/3 position this morning on the initial spike.
I had one sell signal confirm yesterday and one not confirm.
I'll add another 1/3 at higher prices probably next week as OPEX approaches.

I don't like shorting into the maw of an anticipated rebound, but I want respect my signals.
If the rally is vigorous, this will get stopped out.
If it peters out, it will have a chance.

I thought you may go short today???

[johnnywa]

Cobra,target for 2nd leg ?

[Harapa]

No Buyer of "Fear", VXX at 52 week low.

[OverUnder]

Target:

[soku]

kena, u didn't deliver picks for ages. i am still waiting.
anybody wants to look at svu?

[jdow]

dont fight the tape.

"I dont question, i dont know, i dont want to know, it cant be known, i just follow price."

thats my new mantra.