Back in the range. There is one small, yet significant, change. The neutral flag is also forming a 15 degree ascending flag.
Here are some more setups. Parameters were $10-15 and 500k+ vol:
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CA, why is the 15 degree slope of the flag significant?
do you believe it’s possible to convert the psychology behind stock patterns to that of entire indices?
Love CLNE.
We need a correction in here, don’t you think?
There are a lot of conflicting messages being sent across the markets… Tomorrow should be most interesting. Will catch you on Twitter.
CA,
Yeah, what are you saying? Is this a positive or a negative?
wood – The neutral flag marked an extremely high probability of a breakout higher. The ascending flag changed that a little bit. The odds of a failure are just slightly higher.
hammy – the same patterns that work for individual stocks work for general indices. In convoluted cases, it’s best to look at the individual sectors and go sector specific.
Moose – we’re in one, a time correction.
I didn’t feel like writing paragraphs tonight.
Does this qualify for an ascending triangle for the SPX?
http://tinyurl.com/mp7qoq
Makes sense. Thanks CA.
I think today’s failed breakout is significant, but I still am fully expecting another attempt tomorrow.
shrooms – it does and it doesn’t. I like to use open and closing prices on the candle, but the tails and shadows in a neutral range are very significant.
Using just the O-C prices, it is an ascending triangle. Using the tails and shadows, it’s a flag. Tough call until we see what happens, but I am on the long side.
Wood,
Not that I know Jack. I’m a complete novice, but a lot of sectors were under distribution or topping today,e.g., restaurants, retail, housing, cruiselines, etc. So,I think the failed breakout is significant too.
Hawaii Five O, I noticed that these indices appeared to be sold today.
However, I’m more long than I’ve been in 6 months, so I’m a tad biased to the long side…Although I do have a short SPY hedge and am adding more shorts in the a.m. We’ll see how it goes.
There is a major conflict. Almost all of the iETFs are showing bullish patterns, but there are still so many long setups.
SRS…was strong all day, this should be watched as a tell.
I have come to same conclusion, Master CA: bullish looks for iETF’s but many great long setups, still .. so I’m going both ways as of the last couple days.
ditto what Juice said as I’ve been watching closely for the last 24 hours– starting to accumulate iETFs near their 52 wk lows for later days– while riding stocks still heading up– and continuing to look for one day/four hour wonders.
Just so I don’t get banned from refreshing – my watch list du jour:
REV UIS BCON BGCP DAN BONT FLEX HYGS VICL WPTE PTN CMZ CTS PWER FRZ DYN ATSG OPWV ICOC MOVE NARA OIIM PLUG PLXT SNTS WMAR TIV ABR MTG PLLL UXG BBX PATI
a few shorts – PCP EAT ARO LPS JLL CBRL UFPI BWLD JOSB LINC CEC DEG
EDGR, with volume -now above 200 day,with positive earnings visability through year end, insider buying.
yes I own it, alot of it. Chart looks like a run is close.
Shorting oil, via low priced POS that have run up.
CA – Once this circus turns, which iETFs are you focusing on?
Behold….
Number of stocks; 50 DMA crossed 200 DMA last 5 days
498 total; not screened for price
418 > $5
239 > $15
105 > $25
60 > $35
30 > $45
19 > $55
14 > $65
Number of stocks; 200 DMA increasing for last 25 days – 257
Number of stocks; 200 DMA increasing for last 20 days – 308
Number of stocks; 200 DMA increasing for last 15 days – 365
Number of stocks; 200 DMA increasing for last 10 days – 493
Number of stocks; 200 DMA increasing for last 5 days – 652
I think one has to put priority on the actual stocks and stock indexes and what they are telling you (same with commodities). The iETFs, by the time you add leverage and readjust every night can give a distorted picture. We have seen what looked like double bottoms in a range of iETFs a few weeks ago and that proved to be false. The basic stock and stock index doesn’t have capital erosion built in, iETFs do.
FLEX NGAS STZ KFY
also WNR if oil fades off….
i didn’t like the selloff into yesterday’s close…i think we end down today…
CA, what are you thoughts on upcoming action in FSLR?
http://stockcharts.com/h-sc/ui?s=FSLR&p=D&yr=0&mn=9&dy=0&id=p35434319685
A move on up?
STXX possible run?
MIC, MWA, HTRN, LF. I’d been keeping my eye on HTRN for a few days as one to buy and post here, but missed out on yesterday’s 8% bump due to the real world getting in my way. Up close to the 200 day and triple normal volume yesterday, still has lots of room above that. HTRN and MIC are on primary “I can do some of this myself” buy list. Stumbled badly on VICL – got bored and sold way too soon.
So I don’t get banned, here are some of the things I’m watching ADI AHD CTIC FEED NOV.
Possible run on ANDS?
CTIC stopped looking good wouldn’t you agree?
I am inclined to think that there is more downward pressure on the market than before. Yesterday, the indicies tried to break out higher and failed. Hope I am wrong and this moneymaking party continues!
Names to watch – NAK, TGB, ABAT, HBAN
JP – that’s TBD on the ETFs, but I’ll likely get FAZ, TZA, etc.
FSLR – higher chance up.
ANDS – interesting…if it gaps above yesterday’s high.
CTIC – very close
APT new 1 month high, within 1 or 2 cents from BTFO status!
KFN
ACAS
ABR
possibles
CA, how bout CRXX?
LJPC
if can can get above 0.42 with some conviction
also liking CLNE here
ARIA and HSWI looks interesting.
and guys, use a RSS feed reader and subscribe to CA’s comment feed. Omea reader is a pretty good, you can set up the reader to check for new comments every min. I think that should help with the page refesh problem.
VICL- go
still think PPHM is possible
CA – still convinced of XRM?
feel like the dollar circus may be closing down …
On UEC..today Alpha pick
GOOD
bought HTRN 1.67
AATI for possible swing.
Sold remaining CTIC. 1.415
Guys this is going to be slow today….
ABR
LEA looking good here for an entry
very slow
/NG (nat gas futures) better trade than UNG. UNG will be rolling (they control more than 70% of the nat gas futures open interest) over the next couple days = volatility = $$
SQNM BTFO! I’m buying on the next dip
ANR looks good
SVNT might be the only game..with some volume
selling MEXP – called yesterday @.10 now .14. will wait for .06 / .07 again and build more. keep on your watch list.
SQNM!
HTRN making a nice move – in full now.
KG BTFO
PTIE
My fucking trading platform is down. I wish Canada gets more reliable platforms :@
What’s with SVNT?
News that it’s drug have safety concern and it jumps 50%???
Nice pick Bill.
Watch GLD closely, bounce off trendline at 92 this morning. DZZ if it drops below 92.
Check out VVUS for some biotech mojo
FCX trying its best to turn positive….far from exhausted imo
PALM might have an up run towards the close a lot of takeover rumors/speculation and people may play the weekend for takeout
CDII
getting into LEA again here
CA–you buying CDII?
CA opinion on ACAS
Canuck, which one is it?
Not having problems here.
Took loss on bad looking minis including CTIC, OCNF, EGLE. All failed badly.
Keeping ABAT, IO, XTEX.
SQNM trying to break
ACAS is a watcher
Thank You, I have a 1/2 position at 3.20
CA, Thoughts on DYN / Swing
Enjoy the SVNT polarpanda – I think that might have been an RC pick. That one treated me real gooooood. I think I picked VICL but of course I sold that waaaaaaaaayyyyy to soon (probably to raise cash for JAZZ in perfect harmony with the way of the universe). Hope some folks here took the purse on VICL yesterday.
Bill z,
Just curious, what area of medicine are you specialized in that allows you to trade during the day?
OMG OMG OMG OMG OMG OMG OMG OMG
THE MARKET IS GONNA CRASH TODAY.
I JUST HAVE A BAD FEELING. THEY CAN BARLEY HOLD IT UP NOW.
SHOULD I SELL EVERYTHING??????????????????????????????????
WHAT ARE YOU DOING WIHT ALL YOUR POSTIIONS?
IS THE RALLY OVER?
IT SEEMS WAY TIRED?????????????????????
IM FREAKING OUT BIG TIME
HELP US CA!!!!!!!!!!!!!!!!!!!!!!!!
WHERE ARE YOU???????????????????????????
CMON. YOU ARE SUPPOSED TO HELP US NOT DITCH US WHEN WE START LOSING MONEY
HHHHHHHHEEEEEEEEEEEELLLLLLLLLLLLLPPPPPPPPPPPPPPPPP !!!!!!!
BCON and LJPC making moves
SHUT THE FUCK UP DoucheDog you’re a fucking loser that simply doesn’t belongs in this circle of winners go and josh yourself and cost average your FAZ.
I’m still here.
Anyway, CDII 2nd b/o
MRGE BTFO
AHD looks good. breaking out of pennant
Cash-N-Guns… watch CRXX closely today. It did the same thing as CPST yesterday when it consolidated back to the 200dma then bounced off. CRXX just bounced off the 200dma, need to watch it break out above 1.15 to feel confident of some type of daytrade opportunity.
DEVILDOG,
SO wrong for SO long (or should I say SO short).
Call out ONE trade that ends up making money (long or short). Put up or shut up.
Jam – I’m an OB/Gyn but haven’t practiced for about 10 years, swapped out for medical software and services biz.
DD – I have no bias on market direction. In fact, I enjoy shorting.
Am I do only one that saw the sarcasm in DOG’s comment?
XTXI very close to breakout
PALM is spiking another 5 percent today while appl and rimm down. could be combo short squeeze and rumors of take out. they might try and run it to 15 by end of the day…near 52 week high and longs are strong since they have been rewarded…might be worth a shot if it pulls back a little to see if it then springs back up.
sorry for redundancy but huge short squeeze in PALM and there are tons of shorts in the stock..could get ugly for them
VDSI flagging on the 10 min
ES short 935
Ok just a quick question if anyone can help: What is better to use: simple or exponential MA? I would say EMA because it takes into account the recent prices more, but seems like lots use simple? any thoughts? thanks!
@TraderKeith I use Exponential for 200 and 50 and simple for 20 and lower for casual scanning usually. Although that said i do switch when looking more closely to see if there is any substantial difference that could affect my theory.
TNL on watch
Selling STEM…dead money.
Buying nat gas.
DD is like a broken clock. Good job missing out. CA is nimble enough I am sure to make you look like a fool. Lol.
UEC BTFO above 2.6 and is now flagging
CA, what do you think of ICO for a swing? It’s just cleared some heavy overhead resistance and looks interesting.
Cuntface Cabrera is soooo fucking stupid-she needs to be picking ripe tomato’s while wearing white pants.
I bought ICO on 6/9
Ahem.
good day for shredding documents and stuff
PissAnt..thanks..i was in and out today..didnt do much..looks like its guess the last hour today.
Cash… CRXX turned out to be a dude, didnt do anything.
SVNT ramping up some afternoon volume
I watered my plants, went for a drive to enjoy the day. Came back and nothing had happened… LOL
I would love to deliver a running Bolo punch to the throat of the goat faced chubby Beaner skank Cabrera..
ETFC really peaks my interest… monster short squeeze going on, i’m sure a lot of you see that.
I think it could mimic ESLR, which just closed it’s major gap.
90M shares short in ETFC, stock breaks $1.97 it’ll rip higher to fill that gap up at $2.30
Looking to buy later this afternoon
ACAS showing life
LETS GO ACAS…good look CA
today i’m scaling back on offal and letting my solid breakouts ride; not really looking for new ones until monday.
Bought ETFC $1.87… not breaking out yet, but expect it to
CENX trying to go green
TTWO ERTS
Check out FUQI, interesting isn’t?
SPNG looks like fun
ETFC BTFO!
ACAS 2nd b/o
AXTI watch next week
CA sorry new guy here is b/o…break out.
BREAKOUT
what i woulda paid to see a 1.98 close on ETFC! Otherwise great close, massive volume, set to rip higher early next week.
Compare it to the ESLR chart… going to be fun monday morning!
ca – any recommendations on one to buy and hold through the weekend?
Little late to be buying Franky..
Sold out most of my holdings. More than 50% cash now.
next week…
BDK – short play – descending triangle / volume confirming / H&S
CNA – trying to break pennant
I am 75% long/25% cash with 12 positions.
-1.2%
HBAN got a nice bump in AH
oh sweet! A Cramer pump for an extra 12%
Thx Schis.
you selling that?
no way
Cool. Just wondering, as I never have owned a Cramer pump before. I have my target mapped out for HBAN in the 5.25 – 5.50 region. Have a good weekend CA.
Schis OUT
LJPC sanked AH, anyone know what’s the news?
Thanks
here is the news http://biz.yahoo.com/e/090612/ljpc8-k.html
watch list
http://www.finviz.com/screener.ashx?v=211&ft=3&t=VMED,TSTR,SOA,PWER,PTN,MTG,GMO,DYN,CRGN,CPST,CBB,ATSG,ARNA,ANAD,AMKR,AHT,AER,ABD,&ta=1&p=d&r=1
Me want cookie!, Me eat cookie!
whew! glad I didn’t buy LJPC.
Retox – good shit. Thx for contributing.
Cookie Monster – ???
CA, No problem – that site is freakin’ incredible!
Hammy asked about using chart patterns on indices.
Before I started making my millions on these penny stocks (ha!), I traded ES, NQ, and a couple of others.
This link should answer the Hammy question:
http://s699.photobucket.com/albums/vv352/retox13/?action=view¤t=es1.jpg&newest=1
This is a lot harder to do in real time than it may appear but if you watch for the pattern, watch for volume confirmation, and watch for stochastic confirmation, it usually works very well.
At the very least, it helps to spend some time doing this so you start to recognize patterns as they develop.
These are 2 minute charts to save screen space but I usually use a 1 minute chart.
Anyway, when the circus packs up again, I’ll probably go back to this.
Thanks Retox, I saw your message on fly’s page. I’m out on my iPhone right now but I’ll check back on this when I get home.