05/01/2012 Live Update

[SWalsh]

Wow, what a move, has anyone seen anything like that before?? Not even a chance to add to positions...just zoom!

October 10, 2008. Roubini was on a round table in CNBC and they were discussing having to declare a bank holiday as the mkt was down about 750 Dow pts just past 1 PM. Around 2:50 time we first learned of closing platforms through quote stuffing and SPX was driven up 100+ points using mostly futures bidding through offer by none other than GS. To my knowledge, that was the biggest mkt move since 1950. A week later we were making new lows.

[victorm]

Wow, what a move, has anyone seen anything like that before?? Not even a chance to add to positions...just zoom!

That's Venus in action...she makes the market go up!!

What is the next move stars are telling us? down after1420? Thanks

[Al_Dente]

banks = bull
trin = bear

[Mr. BachNut]

Venus giveth and Venus taketh away. I have some TLT, which got spiked along with equities...just in the other direction.

[TraderGirl]

Wow, what a move, has anyone seen anything like that before?? Not even a chance to add to positions...just zoom!

That's Venus in action...she makes the market go up!!

What is the next move stars are telling us? down after1420? Thanks

Well, the next turn date is this Friday, so I am assuming we could start to turn down as early as Thursday afternoon..?? Could be down into Monday next week.

But there is a Jupiter aspect on 5/13, so we are supposed to be up 8th-11th. There may be something significant that happens around May 15th, we could have a large move down. But then, 17th-20th there could be another big move up... when I get the turn dates, they help to narrow down the timing....

I think we are going to see big moves both ways from now.

[taggard]

Long. I had been holding a partial short too but that spike just snapped my stops. Still bracing for somewhipsaw but welcoming the strength.

re mccellan. i use a 10 day moving average of nyse ad line--this tracks Mccellan nicely. the advantage is since it is a moving average i can see the days to be "dropped" ahead of time. The implication right now is 5-4 to 5-11 will drop large positive numbers. this tends (all thing being equal) to take Mccellan down--and that action again all things being equal means a decline.

The time frame is the jobs report and the french run off election (interesting in light of the cobra dax head and shoulders--which i belief will start to play and then fail--amusingly index patterns are often noted by everyone (some see a head and shoulders in rut/iwm) and given the importance of dax the odds are you will see other people noting this. if the patterns turn up noted--often they don't play out--if they are not talked about in the press etc--they often do play out.

a note on entry points this morning--we took off strong broke over the 5 min 20 ema and then pulled back to it--given we were short term oversold and that we had a strong start entering there worked. second on the break over the first spike up was another entry more dangerous but was there.

this is just my experience so naturally discount it--but this talk about the news spits attention during intra day trades. i like the news as much as anyone but it just doesn't help trading during fast moves. i think the key there is a very simple rule set and discipline. you just have to move without a clue--because thinking or understanding is too slow--when up against stuff like short squeezes or hft shifts. i don't know about you--but it's hard to just sit there and know i don't know and yet do something--but that is what works in fast situations.

[ClarkW]

FWIW, there hasn't bee follow thru (long-term) on big bars on the 60 min. for BAC for awhile now. Is this time different?

[Cobra]

Cobra, AAPL is rebounding somewhat, like you said. Options expiry may interfere by Thursday, so maybe this would appear as failed rebound, symbolically speaking? If happens a lot earlier, may be more overall trend? (Evil Plan)

aapl update, the rebound so far is not enough, so still could fail eventually: http://stockcharts.com/public/1684859/c ... /260183775;

Cobra, are you able to give a ballpark target for this rebound now according to the pattern?

Purely coincidences, I actually pointed out the rebound target. Fib confluences area and the gap seem a good INITIAL target.

[SWalsh]

While I believe it is quite worthwhile to follow planetary movement, the evidence for this move is clear, News algos were set to buy if the releases at 10 AM were greater than a certain level. They surely also had numbers to drop the mkt as well.

Can anyone be faster than 1 second? Note the ranges per second prior to 10:00:00. No alignment made that happen like that as it would almost assured have dropped as much with certain bad numbers. The news algos have been the ones that cause the biggest moves.

[victorm]

Wow, what a move, has anyone seen anything like that before?? Not even a chance to add to positions...just zoom!

That's Venus in action...she makes the market go up!!

What is the next move stars are telling us? down after1420? Thanks

Well, the next turn date is this Friday, so I am assuming we could start to turn down as early as Thursday afternoon..?? Could be down into Monday next week.

But there is a Jupiter aspect on 5/13, so we are supposed to be up 8th-11th. There may be something significant that happens around May 15th, we could have a large move down. But then, 17th-20th there could be another big move up... when I get the turn dates, they help to narrow down the timing....

I think we are going to see big moves both ways from now.

Thank you TraderGirl, I started copy your posts about month ago and keep it for future refferences.

[grachu]

cobra can check on the vix ? where is all this bullishness coming from.. don't you think this could be starting to become a warning sign?

[Al_Dente]

i'm up on freestk
but it dumped my "portfolio watch"
and it's wanky on the candles
???

[MrMiyagi]

i'm up on freestk
but it dumped my "portfolio watch"
and it's wanky on the candles
???

I can't even sign in! Must be the May 1st bug.

[Al_Dente]

i'm up on freestk
but it dumped my "portfolio watch"
and it's wanky on the candles
???

I can't even sign in!

try fresh
don't use your "favorites" link
type in URL address fresh
frestockcharts.com

[Cobra]

cobra can check on the vix ? where is all this bullishness coming from.. don't you think this could be starting to become a warning sign?

You mean VIX didn't make a new low while SPX rebounded to a new high?

[MrMiyagi]

try fresh
don't use your "favorites" link
type in URL address fresh
frestockcharts.com

Sorta works, half of the screen is the ad from the right side. Chart is not right.

[grachu]

yes that is what I meant . plus is not getting too low on the big picture?

[TraderGirl]

Even though there is a turn date on Friday, there could possibly be a dip of some kind and recovery on Thursday, I don't know...but may take the majority of my profits as early as tomorrow, we'll have to see the price action...

[CarlosDK]

TraderGirl ,, you must remember we have a Saturn aspect also no good coming up.

[jarbo456]

you guys should read the stats on the first day of the month returns...May happens to be quite strong in that area.