12/30/2011 Intraday Watering

[johnnywa]

Applying the last day of trading since 2000
Average
Open 125.81
High 126.56
Low 124.79
Close 125.58

Median
Open 126.02
High 126.52
Low 125.06
Close 125.59

So what are the stats for the following day after last day of year?
I got an open right at the median of 126.02

Should see a move to 126.40ish before turning back.

Intraday move only short at 126.31 stop 126.50 target 125.50

Last post...I have my condition orders in...looks like the 3 push up pattern is complete and we should get a retest of yesterdays soft gap

[Al_Dente]

NYADV advancers are ~1200
NYDEC decliners are ~1500
5 min
http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15

[edit: sorry, when i posted this the DECLINERS were ~1200 and ADVANCERS were ~1500... my bad]

[KENA]

FRI ..Anyone thinking RIMM might be a good buy now better think twice..Shaeffers has a short on this dn to $12.00

[mozart]

What's your timeframe Mozart?

I don't go by dates, just try to figure the trend, than go with it.
I am not the tech expert,when it comes to charts, trying to keep things simple.
When it's oversold, exit, pick better spot for shorting, or go long, depend's on the trend.
Yesterday, did take long position on Silver, exited by the end of the day, usually don't try to pick the bottoms.
It's all about risk assessment for me.
Just another opinion.
Here is snapshot of SLV, Nov.,Dec., sorry can't post chart, any way doesn't look healthy.

[deacoes]

USD futs down, Bond futs up, while market sideways. 10:30 reversal play coming?

[Tabby]

how market gone up with these guys are like this?

Pretty soon bull and bear efts, both go in the same direction too.

They did, if you short both you can earned 15% yearly I heard, better than most fund. but if you go long on both you lose.

I have hardtime to belive that. with all computerized and cookie setting by the brokers. They can always call for the shares even if the traders don't use margine account. Shorting efts is an art.

[BullBear52x]

TOS lost all my drawing, happen every once in a while, no yellow lines

[knurbs]

FRI ..Anyone thinking RIMM might be a good buy now better think twice..Shaeffers has a short on this dn to $12.00

FWIW, My experience with Shaeffers is you will do much better going opposite of their recommendations. They are wrong more often than not.

[Al_Dente]

how market gone up with these guys are like this?

short covering?

Price and volume rules.
None of my business, I just wish you’d add nyadv/nydec to your internals, they are the most important of the internals, they measure the strength/weakness and ob/os of 3000+ stocks, especially critical when/as price ignores other bearish internals divergences.

Something's got to give....http://www.youtube.com/watch?v=9W_HCqth ... re=related

[deacoes]

End of year - let's share our dashboards. Here is mine:

[waverider]

TOS lost all my drawing, happen every once in a while, no yellow lines

Their updates are annoying, at least it's better than etrade. Thanks for adv/dec Al. Likely a range day today, buy low sell high scalpers only.

[Cobra]

nothing to say, remember, absolutely no failure allowed, otherwise the rally is over.

[knock]

any trader VIX here comment on TVIX please? seems to ready to pop.

[Mr. BachNut]

Pilot short trapped.
As noted yesterday, this is contrarian, counter trend trade that is either early or wrong.
Thesis is that rally from 12/19 low has been driven primarily by institutional YE window dressing.
Play is that after new years the market will return to its regularly scheduled programming (downtrend), which would include a return to the 12/19 low.
A return to the 12/19 low would beget a bonus in that the rising bottoms trend from the October low would be pierced opening up further downside (the 11/25 low?).

Whereas I have been thinking the S&P could have upside to 1320 on this move, there is some Elliott Wave logic that suggests a more conservative upside risk.
If you can view the move from the 12/21 low to the 12/27 high as a wave 3 for this rally, a wave 5 move from Wednesday's low should not exceed 1288 and will probably be less.

Depending on your entry, where you place your stop and some imagination concerning a revisit to some of the lows cobra noted in last nights report, reasonable intermediate term risk reward ratios come into view. Also, if Wednesday's low gets pierced, the top is probably in as Cobra suggested. There is less reward potential at that point, but the risk reward relationship should be better. I like to do pilot trades to start a position though because these days the market seems to gap through key confirmation levels messing up my more precise plans and desires.

Last point, if S&P trades bullish next week and breaks 1288 without signs of exhaustion, I'll bail and you can ignore the above...

[johnnywa]

Break of green line,blue dotted line?
i do not want to see break of 1269-72 going into Tuesday

[99er]

So honey...

SPX http://99ercharts.blogspot.com/2011/12/spx_6607.html

What's for breakfast?

[BullBear52x]

how market gone up with these guys are like this?

short covering?

Price and volume rules.
None of my business, I just wish you’d add nyadv/nydec to your internals, they are the most important of the internals, they measure the strength/weakness and ob/os of 3000+ stocks, especially critical when/as price ignores other bearish internals divergences.

Something's got to give....http://www.youtube.com/watch?v=9W_HCqth ... re=related

I try to fit them in one chart but like you know only 6 price allowed, I have to separate them into two different chart, I know they are important, without internals day trade is dead, or will be LOL. next year I will re-arrange, today is half day for me, got to get ready for new years eve party tomorrow. I hope they make nice 2012 glasses.

[Al_Dente]

TOS lost all my drawing, happen every once in a while, no yellow lines

Their updates are annoying, at least it's better than etrade. Thanks for adv/dec Al. Likely a range day today, buy low sell high scalpers only.

HI WAVE
please note i screwed up my last internals quote and edited it

[edit: sorry, when i posted this the DECLINERS were ~1200 and ADVANCERS were ~1500... my bad]

now advancers are ~1600.... not good enough to qualify as a "trend day" could easily tip either way

[BullBear52x]

End of year - let's share our dashboards. Here is mine:

Nice set up

[johnnywa]

Anyone got a viagra for the dollar,Honey slip one in his morning coffee