06/29/2012 Live Update

[KeiZai]

GM

I am not sure how reliable is this P-Bar but here it is as it is

DX.png

EDIT: dollar chart

I have heard that premkt /aftermkt P bars are not very reliable.

Agree I have the same experience

[Petsamo]

Anybody like F ?

[SWalsh]

Just one spike this morning. No mkt chart structure to speak of so they will likely find it difficult to determine what to do until we build some sort of pattern:

(chart HFTAlert)

[SWalsh]

overnight politics and bailout packages killing longs and shorts alike.

What it does is drive more players elsewhere. When you can't reasonably define your risk it's a bad market.

What they did last Aug/Sept took many short-term trading mutual funds out. It's why they, in particular, really want the HFT players limited or removed.

[gappy]

Just one spike this morning. No mkt chart structure to speak of so they will likely find it difficult to determine what to do until we build some sort of pattern:

(chart HFTAlert)

Politics trumped them. The Euro short being wiped out.

[HuyVanLang]

I'm glad I didn't trade in the last 3 days. Market is unpredictable at the time like this. Now news is out, time to make some coins.

[KENA]

Here is a little TRIVIA while we wait for the mkt to settle dn..From Dorsey Wright/Stock Traders Almanac...The first trading day of July has been green 18 of the last 22 years..For the first trading day of each the month since Sept 2nd 1997 the dow has gained 5570 points and lost 590 points on all other days.The returns on those 178 trading days since 1997 has outpaced the other 3557 days.I think we should trade only the first of each month and go to the beach the rest of the time

[Mr. BachNut]

Temporarily Short.
I am still basically Market Neutral but I put on a small short (play money) this morning because the spike is sending the McClellan Oscillator too high into the thin air.
Also, Index at declining tops resistance.
I'll close it on the next pullback if it isn't stopped out.
We'll see how trade unfolds after the morning bolus and Europe closes.

Today's action is bullish obviously, but I would like to see how things close and whether there is good volume for the day.
The long bond is still above support but the $ has fallen out of bed (actually Euro has come back to life and spanked shorts).
Also, oil and silver reacting up before crossing a point of no return.
A declining $ could paint the way for a summer rally. We shall see.
Not a trend yet.

[ClarkW]

Here is a little TRIVIA while we wait for the mkt to settle dn..From Dorsey Wright/Stock Traders Almanac...The first trading day of July has been green 18 of the last 22 years..For the first trading day of each the month since Sept 2nd 1997 the dow has gained 5570 points and lost 590 points on all other days.The returns on those 178 trading days since 1997 has outpaced the other 3557 days.I think we should trade only the first of each month and go to the beach the rest of the time

That is amazing!

[Kiaora]

KENA.....You've changed my life!!

[Cobra]

volume surge, biggest bar, so might be a pullback here, then we'll see.

[TraderJoe]

KENA, here is a new friend for your cat...

[nicha]

Thanks Cobra. Following you closely on AAPL to cover some longs into the weekend. Where do you think it is headed? Still up and up and up?

[ClarkW]

Surprised GDX isn't up more. It's at +2.68% with SLV +4.06% and GLD +2.58%.

[KENA]

KENA, here is a new friend for your cat...

Now that is some wild looking cat.

[KeiZai]

I have a feeling today we will see 5 point range day to lure retailers on long side and shake out shorts as well before the last big wave down comes...after that last wave retailers will be scared to buy again and they will miss the big move up...market is all about psychology...have a great weekend all!

[Cobra]

i don't know today, very special. usually the price would wait until EMA20 to catch up, we're now far way above the EMA20.

[Harapa]

My VIX based model now favors equities.

However, I don’t expect big gains since SPY CCI trend (bottom panel) remain in sell mode both in hourly and daily time frames. In addition, another (rather reliable) indicator based on WLI/WLIg published by ECRI (http://www.businesscycle.com/resources/) is in sell mode.

[TraderJoe]

Here is a little TRIVIA while we wait for the mkt to settle dn..From Dorsey Wright/Stock Traders Almanac...The first trading day of July has been green 18 of the last 22 years..For the first trading day of each the month since Sept 2nd 1997 the dow has gained 5570 points and lost 590 points on all other days.The returns on those 178 trading days since 1997 has outpaced the other 3557 days.I think we should trade only the first of each month and go to the beach the rest of the time

Maybe Cobra will start a new first day of the MONTH Trader Lounge

[Mr. T]

KENA, here is a new friend for your cat...

Now that is some wild looking cat.

He looks very smug...... is he the one that ate your ear?