01/18/2012 Intraday Watering

[99er]

cougar

SPX http://www.99ercharts.com/archives/92

Your Bat Fillet is served.

[zipper]

Just a quick question to any of the Technical people here ...Probably 99er or Cobra or anyone who can..

last week high on ES 1298. yesterday 1302.5 today 1298.5
Does this constitute a head and shoulders ???????

[proteus46]

“CLOSE THE POD BAY DOORS, HAL”



Oy
Could anyone provide a link to that old CBS “60 Minutes” piece where Morley Safer (?) interviews the High Frequency Trading guy inside the computer room full of bot-thingies.
I need to watch that again
Pay link is fine. Free link is fine if its “legal”
TIA

5 min update
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =249026794

Baron von Sharpie, please post yr nydnv, I AM WATCHING

Mr. Al

Try this link, it's free from CBS.news website, aired last year

http://www.cbsnews.com/video/watch/?id= ... ontentBody

[cougar]

cougar

SPX http://www.99ercharts.com/archives/92

Your Bat Fillet is served.

..with red chili sauce?!

[soku]

cougar

SPX http://www.99ercharts.com/archives/92

Your Bat Fillet is served.

my reading: middle part too small to be qualified as an independent move. i think it just confirmed high 1280s as a short term bottom.
i see some fib numbers there. we may pull back to the base again.

[zipper]

To the bears out there , the Wizard is calling for an afternoon sell off and a big down day tomorrow, With CObras views on reversal pattern showing up and divergences... Bulls might be running on Fumes till 1pm, just a fundemental view
Yes I am short ES 1295

Who is this wizard?

The Wizard is the financial astrologer... His dam good

So what does he say about next monday? When will this market turn down?

Dont know his said today afternoon down and tomorrow down, nothing for Frday yet or Monday for that matter

[BullBear52x]

“CLOSE THE POD BAY DOORS, HAL”



Oy
Could anyone provide a link to that old CBS “60 Minutes” piece where Morley Safer (?) interviews the High Frequency Trading guy inside the computer room full of bot-thingies.
I need to watch that again
Pay link is fine. Free link is fine if its “legal”
TIA

5 min update
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =249026794

Baron von Sharpie, please post yr nydnv, I AM WATCHING

last time was a sell no buy insight it has to trade lower then we will have a new buy for intraday. I look at it as is.

[Cobra]

revisit the previous high. nothing to say, let's watch how retest going.

[BullBear52x]

Paging: tdo722

128.5 add another 10% if not stay tight. day trade until then, no more new position over night

[SWalsh]

someone just bought that dip.

Oddly enough, there was zero HFT/Algo activity anywhere near the low. 9:45 was the first time anything above a flatline was seen.

At 9:51-9:53 there were spikes with the last of the three being one of the biggest I've seen.

BTW, I have no idea what usefulness this program is after three months looking at it. HFT are hooked right into the mkt itself in NJ and Algos are running programs that have time delays due to distance. The guy offers this service - HFTAlert - at $50 a month. Yes, the mkt has changed completely since 2008 as machines now run it. Old, time-tested methodologies seem to be purposely broken by those with seemingly unlimited funds. I'm not the only one who thinks this is criminal. The Mutual Funds Association (whatever their name really is) think so also and Grasso, who I think welcomed them in, says they should be ripped out. But they feed the banks and they build the oligarchs. And anyone not thinking this is not now, "It's not who you know, it's who you &*^%", doesn't understand how corrupt this has become with a virtual complete "hands off who we bail out" situation. Read Matt Talibi's articles in Rolling Stone Magazine if you are unsure of the corruption from both administrations.

[taggard]

imho, the tape is reminiscent of late 2010. i came in this week as a bear, but if bulls can manage a consolidation this week, more upside to 1340-1350 is quite possible. from what i can see, the majority wants a pullback for various reasons. they are short or want to get long on a dip... i have lost money this week churning on this tite low volume tape. going to wait for resolution of trend.

judging by posts here and other places "the majority want's a pull back" seems about right at least in posts. and the poll also supported that. using the weekly qqq as an example--it seems possible to hit the last (major) high we are only 1 point away. and blowing stops is a way of life in this market.

also method i used take a proposed feb down move of some sort--often (in a flat to up market) takes forever and is hugely painful in terms of losses. out of 15 events in the last 1.80 years there were 3 major failures--2 strange long ugly marginal workable events and 12 very strong wins. the main idea i get out of this is that any shorts in a flat or rising market (with this idea) are going to require epic time. as in 2-6 weeks to play out. and have a decent chance of total failure.

what's making life so hard for everyone is trying to anticipate the end of the trend. Cobra has often noted that it's best not to fight. this is a very important idea and i have watched people in 2009 and 2010 get whacked for months. these were not ignorant or stupid people--they were very decent traders most of the time (and did well in 2011 for example). many of us are very serious about working on our technical abilities--and you frequently see a lot of emotion on this and other sites with serious traders. huge amounts of energy are often expended in these situations--also people often become more solidified in their attempts and positions.

when this happens we forget what the entire basis of ta is--and that is to actually see the market. all the volume divergence etc is of importance--but whatever is going on--goes on until it changes. when it changes something else starts.

all this may seem sort of obvious or boring--but it's also key.

risk is not some actual thing entirely outside people--it's a perception based event. generally the problem in life is that what we perceive as "low risk" is not. and often what we perceive as "high risk" is not for one of several reasons. in high risk we often avoid taking action or are insanely careful if we have to proceed in spite of ourselves--hence risk is effectively lower or is hedged. what we see as low risk (example-eating a so-so diet/getting stressed etc) is higher risk for most people in.

taking my favorite example--i often cross streets in the middle (eg jaywalk) but prior to do this look around a lot for cars. i see people blindly staring at the walk light (not unlike buying and holding in 401k because the market always goes up 10% a year on average)and stepping into oncoming traffic secure because the little light told them to and they are inside the lines. sadly many people in cars mess up at stoplights and crosswalks. so what is most dangerous? and why is it dangerous or not?

so bottom line is no matter how solid our trading and ta work is--keep an eye on the things that "aren't important" such as ignoring oncoming trucks and getting "emotional"or thinking we are not getting "emotional".

ps--i have seen on this and other sites the idea that there are few buyers (eg divergences prove this) but there are also few sellers and this idea has shown up no place i saw. one interesting survey from bac (institutional investors" risk-on in 2012") shows that 3% of "asset allocation specialists" (oh man) with 818 billion in assets figure the global economy would weaken in the next 12 months. you hate seeing that skew esp with a title like AAS. other stories indicated last year was the worst in a while for hedge funds and that mutual funds suffered hard core withdrawals. maybe the AAS guys coupled with the mutual fund guys mean we go to 1500--but 3%?

good luck with your trades

[Al_Dente]

Baron von ExitStrategy: refresh my memory please, what was it u used to say about sell all double tops. Does it apply today?

WTF WTF? That’s MY chart and its not nydnv it is $NYAD net (advancers minus decliners)
Quit confusing me with my own dang charts
I thought u said nydnv?
Post YOUR charts please, I’m sick of mine
PS: is it what it is?


PS: THANK YOU proteus46

[cougar]

cougar

SPX http://www.99ercharts.com/archives/92

Your Bat Fillet is served.

my reading: middle part too small to be qualified as an independent move. i think it just confirmed high 1280s as a short term bottom.
i see some fib numbers there. we may pull back to the base again.

This move should qualify for an "almost there"!

[SB73]

In the last 15 years of looking for a cluster of black candles like we have seen as of late I found only July 08 (followed by continued selling) and October 10 (brief selling and continued higher with QE at its back). I am at a total loss on this one. I think we may need to pop out of the bollinger bands before the selling can start. The bollinger on the SPY daily is currently at 131.62.

[SWalsh]

GM,

to HFT expert (sorry i forgot your name)

do you know what means those shortcuts "high algo activity"?

If you meant me, "HFT expert" does not exist outside of those guys. Kidnapping a few would be interesting!

I don't know what that last column means. I used a search engine and the symbols don't appear. Sorry.

[tdo722]

Paging: tdo722

128.5 add another 10% if not stay tight. day trade until then, no more new position over night

Bleeding but gonna hold for now. Should have cashed out this morning when I was ahead. aaaaaaaahhhhhhhhhh, greed!!! lol....

[KeiZai]

At 9:51-9:53 there were spikes with the last of the three being one of the biggest I've seen.

Agreed! that one?

[stockcycle]

Sold out all on rally and will buy back on dip (hope to be tomorow or Friday).
http://cyclestockmarketwinner.blogspot.com/

[Cobra]

this kind of consolidation means more up.

[BullBear52x]

Baron von ExitStrategy: refresh my memory please, what was it u used to say about sell all double tops. Does it apply today?

WTF WTF? That’s MY chart and its not nydnv it is $NYAD net (advancers minus decliners)
Quit confusing me with my own dang charts
I thought u said nydnv?
Post YOUR charts please, I’m sick of mine
PS: is it what it is?


PS: THANK YOU proteus46

always sell double top o yay. if you got stuck daytrade your self out. the first lot is critical the only time I got trap they gap on me. my 30% short that I am in now cost average about flat but I don't see them that way. anyhow here is the sell.