01/11/2013 Live Update

[Cobra]

fib info.

[Mr. BachNut]

Long.
Sold one unit for profit. Holding one unit with tight stop.

My trend signal is solid up.
My summation index signal is also up.

I should be happy as my dream from Monday has come true, but I still hate this trade.

I have reduced exposure and set a stop to lock in profit for a few reasons:
1) Reaction to WFC earnings has been muted so already priced in.
2) OPEX next week. Heading into it from highs provides good chance for some volatility.
3) They ran buy stops yesterday. If there is no more juice there, they may run the sell stops next.
4) Miyagi, I think, has some downside P-Bars outstanding.
5) New moon on deck. Possible turn.
6) January OPEX stats not great.
7) MO divergence. As part of my summation index model, I have McClellan style stats and oscillators on the various indexes. I was struck yesterday by the Russell 2000, which is hitting new highs but has MO type stats approaching zero. This is not a sell until it goes negative, but it is inconsistent with my theme of "everyone back in the pool." While it could be just rotation, which is healthy, there are people getting out of the R2000 pool.
8) I am a paranoid bull.

[Out of Bounds]

Snog has turned already. Earlier than i expected.

[uempel]

Harapa, I was talking about a bigger move later this month and now I can now pinpoint it more closely; Tuesday or Wedneday after the MLK holiday. Here an excerpt of the economic calendar, don't yet know what they'll pick to explain the move

[Mr. BachNut]

Ummm. Neutral now. Stop hit.

Still think market may want to run and tag 1500.
Will watch how things unfold next week and may re-enter at better level if some of my concerns go away.
Now for a relaxing weekend.

[Cobra]

members only update at 10:04 am
http://www.cobrasmarketview.com/2013/01 ... ay-update/

[gappy]

GM

gap homie still in ?

If that's me, then yes sir, in for a penny , in for a pound. Need to see if the PM's are going to trade parallel the SPX today, if so, lower the stop to 30.30. Morning and GLTA. http://www.youtube.com/watch?v=qsoa1wHJT2E

[Mr. BachNut]

Harapa, I was talking about a bigger move later this month and I think I can now pinpoint it more closely; Tuesday or Wenesday after the MLK holiday. Here an excerpt of the economic calendar, don't yet know what they'll pick to explain the move

34.png

Bradley Turn Date January 20th.

[Harapa]

Harapa, I was talking about a bigger move later this month and I think I can now pinpoint it more closely; Tuesday or Wenesday after the MLK holiday. Here an excerpt of the economic calendar, don't yet know what they'll pick to explain the move

34.png

Thanks for the info. The trigger may be the money flow from the fed as they plan to buy more and sell less. I will have VIXies on the Watch.

[Cobra]

support again, this time is stronger.

[uempel]

Ummm. Neutral now. Stop hit.

Still think market may want to run and tag 1500.
Will watch how things unfold next week and may re-enter at better level if some of my concerns go away.
Now for a relaxing weekend.

You're not a paranoid bull - you just know what's going on Enjoy your weekend!

[uempel]

Harapa, I was talking about a bigger move later this month and I think I can now pinpoint it more closely; Tuesday or Wenesday after the MLK holiday. Here an excerpt of the economic calendar, don't yet know what they'll pick to explain the move

34.png

Bradley Turn Date January 20th.

Thanks BachNut, I've got ellipses on SPX and DAX pointing to the first trading days of that week.

[TraderGirl]

So far previous resistance has held on XLF...

[Al_Dente]

GM
gap homie still in ?

wha?
me homie?

[TraderGirl]

Treasuries via TMF still holding support....

[Out of Bounds]

GM
gap homie still in ?

wha?
me homie?

Sometimes I see all these nicknames and I have no idea who is talking to whom.

[KeiZai]

GM

gap homie still in ?

If that's me, then yes sir, in for a penny , in for a pound. Need to see if the PM's are going to trade parallel the SPX today, if so, lower the stop to 30.30. Morning and GLTA. http://www.youtube.com/watch?v=qsoa1wHJT2E

OK sir, more to come later after this consolidation one small wave down (5th) then little rebound
GL2U2

https://soundcloud.com/shinydiscoclub/m ... ah-its-you

[gappy]

GM
gap homie still in ?

wha?
me homie?

http://www.youtube.com/watch?v=EIyixC9NsLI

[KeiZai]

GM
gap homie still in ?

wha?
me homie?

Not this time

http://www.youtube.com/watch?v=Yu6--WBPBHo

[Royal Flush]

Interesting video from the one "guru" that has any credence for me.
.
Jan. 10 (Bloomberg) -- On today's "Insight & Action," Adam Johnson looks at Market Studies CEO Tom DeMark's sell recommendations. Johnson speaks on Bloomberg Television's "Street Smart." (Source: Bloomberg)

VIDEO
http://www.bloomberg.com/video/tom-dema ... HL7Jw.html
.
“This high could occur as early as tomorrow,” DeMark wrote in an e-mail. “1,492.73 is just shy of psychological 1,500 as most traders are predisposed to look at markets in terms of round numbers and will expect 1,500 to be hit. And just to confound them, expect market to trade not quite to 1,500.”

The S&P 500 has rallied 8.8 percent from its November low as the Federal Reserve expanded its bond purchase program to boost the economy and lawmakers passed a bill averting most of the more than $600 billion of spending cuts and tax increases known as the fiscal cliff. The index rose 0.8 percent to 1,472.12 at 4 p.m. New York time today, reaching the highest closing level since December 2007.

An advance to 1,492.73 would push the S&P 500 above a four- year intraday high of 1,474.51 reached Sept. 14 and help the index complete a “13 countdown” on the Combo chart, according to DeMark. DeMark’s “countdown” study involves comparing a security’s closing price to its highest or lowest levels two days earlier, with cycles of “exhaustion” forming when a pattern continues 13 times.