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05/24/2011 Intraday Watering

jpearl
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Re: 05/24/2011 Intraday Watering

Post by jpearl »

2:50 area high per my earlier post.
FJoe
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Re: 05/24/2011 Intraday Watering

Post by FJoe »

Just an FYI and this time may be different. The last 3 big selloffs lasted

Aug. 9 to Aug 30 = 15 trading days
Nov. 5 to Nov 30 = 16 trading days
Feb. 18 to Mar. 16 = 17 trading days
May 2 to May 23 = 16 trading days or 17 trading days if the low of today is taken out...so I assume we are close to, if haven't hit a bottom here.
bbc
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Re: 05/24/2011 Intraday Watering

Post by bbc »

agnosia wrote:
bbc wrote:
I guess for swing 1-2 is fine, but for me, I once used booktrader of IB without anything else, traded back and forth 20 rounds within 5 minutes.
I guess swing is better, DT is so tiresome.
yeah to be honest i break even on my scalp trades and make all my money with my swings. i scalp for intra-day fun :) it is hard to compete against the bots and phd's for scalping these days IMO.

also on in the crude market you have this to contend with -

"CFTC charges 3 firms with oil price manipulation"

just on the wire.... last night they manipulated it down to take everyone's stops out on no NEWS at all and then blasted it higher (the touch down to 96.61 after hours).
glad to know the news. CFTC has the authority to do that beside lot order reporting? But I do read COT every week and has a database.
it's manipulation based on your description for sure, but there is no fault to sell without news. For crude oily, there are good and bad news everyday.

But i read news about short covering caused the rebounce afternoon. I did not buy it. Cause most information, especially news are toxic nowadays.
agnosia
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Re: 05/24/2011 Intraday Watering

Post by agnosia »

bbc wrote:
glad to know the news. CFTC has the authority to do that beside lot order reporting? But I do read COT every week and has a database.
it's manipulation based on your description for sure, but there is no fault to sell without news. For crude oily, there are good and bad news everyday.

But i read news about short covering caused the rebounce afternoon. I did not buy it. Cause most information, especially news are toxic nowadays.
yes i guess so since the SEC only covers the stock market? since the crude market is very small one big player can easily manipulate it.. just like the two brothers that had the silver market cornered way back when. it's possible these three firms colluded. not sure but i am sure nothing will come of it and nobody will get charged with anything :)
bbc
Posts: 168
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Re: 05/24/2011 Intraday Watering

Post by bbc »

agnosia wrote:
bbc wrote:
glad to know the news. CFTC has the authority to do that beside lot order reporting? But I do read COT every week and has a database.
it's manipulation based on your description for sure, but there is no fault to sell without news. For crude oily, there are good and bad news everyday.

But i read news about short covering caused the rebounce afternoon. I did not buy it. Cause most information, especially news are toxic nowadays.
yes i guess so since the SEC only covers the stock market? since the crude market is very small one big player can easily manipulate it.. just like the two brothers that had the silver market cornered way back when. it's possible these three firms colluded. not sure but i am sure nothing will come of it and nobody will get charged with anything :)

i JUST checked the news, it seems that manipulation was back to 2008/01 to 2008/04. Two from Europe. Ya, Anything compared to Eurodollar is tiny market.
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Cobra
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Re: 05/24/2011 Intraday Watering

Post by Cobra »

qqq and iwm are weak so I'll assume the rebound will fail eventually. for now i think the rebound isn't over yet.
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cletus
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Re: 05/24/2011 Intraday Watering

Post by cletus »

Beware ending pattern on IWM
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agnosia
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Re: 05/24/2011 Intraday Watering

Post by agnosia »

bbc wrote:
i JUST checked the news, it seems that manipulation was back to 2008/01 to 2008/04. Two from Europe. Ya, Anything compared to Eurodollar is tiny market.
exactly. do u get any useful actionable info from your COT data? i never found it useful since it is always backward looking...

i think one of the most useful things i started doing to help with my crude trading is to track the daily pit close price. those guys love filling gaps and it gives great insight on the market. also i find the pivot book by john person "candlestick and pivot point trading triggers" to be very very useful...
bbc
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Re: 05/24/2011 Intraday Watering

Post by bbc »

agnosia wrote:
bbc wrote:
i JUST checked the news, it seems that manipulation was back to 2008/01 to 2008/04. Two from Europe. Ya, Anything compared to Eurodollar is tiny market.
exactly. do u get any useful actionable info from your COT data? i never found it useful since it is always backward looking...

i think one of the most useful things i started doing to help with my crude trading is to track the daily pit close price. those guys love filling gaps and it gives great insight on the market. also i find the pivot book by john person "candlestick and pivot point trading triggers" to be very very useful...
I read more than 100 books last year. futures, there is one book talking about COT exclusively. I read the book you mentioned too, haven't finish it based on
my memory. Too many books in my list, but it's harder and harder to find one which I can keep reading.
I think also it's delayed, (issued friday 3:30, up to wednesday) but it's informative for cyclic product, others too IMO.
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Cobra
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Re: 05/24/2011 Intraday Watering

Post by Cobra »

good chances are 2 legged down here, now the 1st leg. the rebound may be over, my guess.
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KENA
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Re: 05/24/2011 Intraday Watering

Post by KENA »

This sure is a boring mkt. We have to break out of this 1319/1312 area.The dippers have just swarmed in this area buying thinking this is the bottom.The only way is to gap dn thru this area.We just have to wait and see who is right and who gets burned.I think the the mkt is after the Bulls.????
agnosia
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Re: 05/24/2011 Intraday Watering

Post by agnosia »

bbc wrote: I read more than 100 books last year. futures, there is one book talking about COT exclusively. I read the book you mentioned too, haven't finish it based on
my memory. Too many books in my list, but it's harder and harder to find one which I can keep reading.
I think also it's delayed, (issued friday 3:30, up to wednesday) but it's informative for cyclic product, others too IMO.
lol, i have a ton a books i haven't finished either. i only gave this book special preference because i talked to a few floor traders and they told me that is the one used by a lot of them.
StrikePrice
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Re: 05/24/2011 Intraday Watering

Post by StrikePrice »

Rejected both time by the falling EMA 50 on the 15-min.

So I guess the 3rd time will be he charm?
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Mr. T
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Re: 05/24/2011 Intraday Watering

Post by Mr. T »

Those long foo's trying to take my gold chains today.

Lucky for me Yoku "Kissy face" Soku distracted them with the lip-lock show.
-T

"Treat Your Mother Right!!!!"
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Cobra
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Re: 05/24/2011 Intraday Watering

Post by Cobra »

guess that's it for today, I'll assume more down tomorrow. not very focused today otherwise I'd call every pivot points today right, i'm sure, as today's patterns are very typical. thank you guys, i'll see you tomorrow.
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cougar
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Re: 05/24/2011 Intraday Watering

Post by cougar »

Cobra wrote:good chances are 2 legged down here, now the 1st leg. the rebound may be over, my guess.
Yes, it was over...and during it, I think I noticed distribution of the previous winner stocks!
agnosia
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Re: 05/24/2011 Intraday Watering

Post by agnosia »

thanks cobra.
MajorEasy
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Re: 05/24/2011 Intraday Watering

Post by MajorEasy »

notice volume ratio for trend changes
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