04/18/2012 Live Update

[TraderGirl]

spx...???

[SWalsh]

IWM. for educational purpose only. see MA 13/34 crossed? a bounce there after ward. that's known as FADE the MA 13/34, sell the rip.

I just wish someone traded this mkt. Well, Obama stated a goal of his was to remove speculators and have only long-term investors. And these markets are now destroyed and run by HAL 10,000...or is it SKYNET?

Stalin always got his way too.

Tricky business heh

For the little people? yes.

I have to run...I'd like to see new lows from a flat that tortured those, like me, who sold that first top today.

GLTA

[BullBear52x]

Thanks Cobra and everyone, GLTA

TA NOTE: Line in the sand for what to come. 138.85

[torus]

that is one solid line at 138.80.

[MrMiyagi]

Pretty lame Power Hour.. shaping up to Dour Hour.

C'mon Barrack, open up your nation's wallet!

[TraderGirl]

nice gap down to the 200dma on the 1 minute...

[Cobra]

volume surge, biggest bar, so hopefully a rebound of some kind here. 30 min to close, anything can happen...

[fehro]

another triangle?

[MrMiyagi]

I knew it was you....

[tomsky]

Just a little reminder from Cobra last night report: if the pullback is shallow and does not overlap with 12th April high we may be heading higher.

[Petsamo]

spx...???

The bear flag is looking real good on the daily chart but I have a feeling the prophecy won't come through.
Well, at least I hope not. I'm mostly long.

[KENA]

Looks like both VIX and Mkt will close in the red.

[Ed02]

Looks like both VIX and Mkt will close in the red.

What does that imply? Thx.

[MrMiyagi]

Looks like both VIX and Mkt will close in the red.

What does that imply? Thx.

That they are as clueless as us.

[KENA]

I think Cobra says Mkt may be Green next day.

[Carlos]

60 min stocastic chart is pointing lower.. but daily stochastic chart seems to be pointing up...

heading lower tomorrow .. then setting up for another push up??

[victorm]

spx...???

The bear flag is looking real good on the daily chart but I have a feeling the prophecy won't come through.
Well, at least I hope not. I'm mostly long.

Your smileys r so funny …

[TraderGirl]

spx keeps gapping down intra-day...are financials being dumped??

[Cobra]

well, guess that's it for today. I need dig a little for tomorrow. thank you guys, I'll see you tomorrow.

[Al_Dente]

TO READ LATER, NOT NOW
Contrary to popular opinion…
Program trading is not necessarily a bad thing.
Started before the advent of ETFs, when firms actually bought/sold single stocks.
Say they got a major buy/sell signal and had to execute massive numbers of trades quickly.
Would take them hours/days to enter all orders individually.
No longer feasible in today’s fast markets.
So they got their computer geniuses to devise programs to enter orders “en masse,” block trades, which they could accomplish quickly and efficiently
(old days it was literally one-by-one-order-entry nightmare).
Nothing wrong with “program trades” ….real brokerage firms, with real proprietary trading desks, directing real computer nerds exactly where and how to program the trades.
Added liquidity to the markets; accomplished massive numbers of trades in a minute instead of hours.

Then maybe they hired too many “quants,” and HFT high frequency trading firms opened up to take advantage of pennies, arbitraging the bid/ask spreads,
if you will, and other games, on a massive scale, etc…. Then maybe things started going haywire and now we’re in a bit of a mess…. SNAFU

But no need to blame it on a republican or a democrat or a dysfunctional congress, or a disgraced dead dictator.