11 replies to this topic

[NAV]

SPX 1131 is still the decider. A break below that will extend the correction for another day or two. Otherwise the correction ends right here. To test the theory, will cost you 2 points of stop, if you are so inclined. Have a good weekend

[arbman]

AA for industrials, INTC for tech, JPM for financials, all bombed. None of them really promises additional spectacular new highs, it is more and more turning out to be "buy the rumor, sell the news", especially when the public speculates like 1999 even in such a sell off! ISEE equities is still 200 Equity P/C on CBOE is still 0.66... I am afraid we may simply bounce a little into the close today and gap down and commit harakiri on Tuesday...

[atlasshrugged]

SPX 1131 is still the decider. A break below that will extend the correction for another day or two. Otherwise the correction ends right here. To test the theory, will cost you 2 points of stop, if you are so inclined.

Have a good weekend

today is a trend day....is it not?

[NAV]

SPX 1131 is still the decider. A break below that will extend the correction for another day or two. Otherwise the correction ends right here. To test the theory, will cost you 2 points of stop, if you are so inclined.

Have a good weekend

today is a trend day....is it not?

ironcross,

I told you the other day around the same levels (SPX 1134), that my trend day decider is something like more than 80% decliners. Today we have about 74% decliners. So, i will give you about 60% odds of a trend day. A break below 1131, your odds will surely increase to 80%.

Edited by NAV, 15 January 2010 - 01:42 PM.

[arbman]

I am thinking we will shoot lower and rally back up to below 1131... I think -25 or so will wake up a lot of folks... The short leg of my put spreads is at ES 1125 (cash 1129), I would prefer that we do not just sell off below 1129!

Edited by arbman, 15 January 2010 - 01:42 PM.

[NAV]

I am thinking we will shoot lower and rally back up to below 1131... I think -25 or so will wake up a lot of folks...

The short leg of my put spreads is at ES 1125 (cash 1129), I would prefer that we do not just sell off below 1129!

x,y and z happens before any swing turn happens. So far only X has occurred. Too early to get excited

[atlasshrugged]

SPX 1131 is still the decider. A break below that will extend the correction for another day or two. Otherwise the correction ends right here. To test the theory, will cost you 2 points of stop, if you are so inclined.

Have a good weekend

today is a trend day....is it not?

ironcross,

I told you the other day around the same levels (SPX 1134), that my trend day decider is something like more than 80% decliners. Today we have about 74% decliners. So, i will give you about 60% odds of a trend day. A break below 1131, your odds will surely increase to 80%.

yes i i recall now...i guess my trend philosophy is different in the sense that if i have net 2000 declines or advancers its a trend day...

i wonder why the yahoo finance page has roughly 900 more securities in their aggregate AD NYSE composite than does IB???/ any thoughts

Edited by atlasshrugged, 15 January 2010 - 01:54 PM.

[thespookyone]

Agreed, already did it, with 1.5 points of stop. My kind of trade-well worth the price of admission. Long from ES 1128.25

[atlasshrugged]

Agreed, already did it, with 1.5 points of stop. My kind of trade-well worth the price of admission. Long from ES 1128.25

the two oclock balloon is in your favor right now.....

i have found on trend days (which i think this is) that you get a lift around two pm east coast time ..i dont think it will extend past the 60 ema on a five minute chart which is around 1132.75 right now at 2 21 EST

[thespookyone]

Yep, atlas, just looking for a quick few points here, but would try again around the same place on a redrop.

Edited by thespookyone, 15 January 2010 - 02:24 PM.