H&S + Sym Tri’s on Indices / Sector Analysis
Blood Angels Land Raider/Thunderhawk Gunship Assault
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Let me reiterate something here. The head and shoulders pattern is only confirmed when the neckline is broken. The neckline is the last major support level that is keeping the chart intact, and it’s not broken, yet.
In addition, I see possible symmetrical triangles forming on the COMP and SPX. Keep an open mind to all of the possibilities that are present. If we consolidate long enough, and the pattern remains intact, then we might not even decline as much. I am waiting for further confirmation by either a H&S neck break, or continued neutral range-bound consolidation.
Here are the SPRD Select Sector ETFs. XLB, XLE, and XLI are forming descending wedges. XLV and XLU are still in ascending channels. XLK and XLP are forming symmetrical triangles. XLY is in a neutral range. XLF is still forming a large pennant.
MRNA up 21% pre-market, CA you are banking it if you still held that one.
imo, thats a market maker suckers print .. they try to get all excited & then it trades down all day … my guess; big seller
caveat - you never know .. but buyer beware!
I do hold it, as I am holding everything else. I’m still listing swing trades, but I didn’t make any yesterday.
MRNA was marked up 21% on 100 shares…. dont get your hope up kchu
exactly … bs by mm’s … watch for sell down
AEZS up, slightly, on pre-clinical data (mouse) for alcohol and perhaps food addiction treatment.
http://www.newswire.ca/en/releases/archive/July2009/07/c4178.html
Sadly no excitement for this groundbreaking treatment for alcoholic mice. lol
anyone on XOMA.
thank you
Looking at XLB, XLE, and XLI it seems one could argue they are forming a H&S as well though the left shoulder is not as clean a formation as on the S&P.
Overnight ES short at the close from 894.75 hit PT at 891.75 +3
Bought STSI $1.04
TRIB btfo!
sure fucking did.
Wow. Nice.
PissAnt- think it’s possible ISRL will complete its double top today?
Zeratul: I hope so, but i havent been posting trades but i’ve been shorting at 120, and covered at 115 several times since wednes of last week. I now cant get a borrow on the stock, so i’m hoping i can get back in on the short side.
Becareful, i think a lot of people might be getting short…. stock could rip higher on a short covering before the stock breaks
Noted, thanks for the warning PA. So far it’s still not an issue, because there aren’t any shares available lol.
SQNM going again
JAZZ b/o
hat tip for the heads up, Justin
no prob. just glad im contributing
CIT is breaking out.
*STAR SAYS MOTION REQUESTS COURT TO SET ASIDE JUNE 16 VERDICT
*STAR SCIENTIFIC SEEKS NEW TRIAL :STSI US
clne b/o
STSI rocking….good for you CA…10% up
STSI - the freebie for today. On your own now.
what’s your target on STSI? still holding?
ATSG back to 2.69 seller
ATSG poised again at 2.69…. looking to buy on the breakout
PAR bull flag b/o
at this rate AIG is going to need another reverse-split at the end of the month
MRGE recovered nicely - might go for hew highs
RT flat base up 7%, hasn’t broke out yet but watch it
watch CYCC for possible swing
CDII approaching trendline support 1.40 ish
Long UNG for a quick trade, 12.50. Out if we break the lows.
XIDE spiki
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ATSG b/o?
ATSG broke out
CA … how many thousands?
ATSG poking thru 2.69
ATSG making it’s move?
ATSG is breaking out
lol wow, everyone’s tracking ATSG.
b/o = about fucking time.
—
Exact cost is still being determined. I have to estimate expenses and such.
hmmm, bailed on ATSG…. seeing the blog, everyone is long and about to dump the stock it feels like… .. ahhhhh!!!
PA - don’t overthink it
if i miss this one, i’ll live… it doesnt seem like a true breakout, volume not convincing. But goodluck to all.
agree on living & volume
CL (Crude Oil) buy 62.75
Hey boys and girls, take a look at BORL on the daily, one of the stranger patterns i’ve come across.
I mentioned several weeks ago that BORL could be the next SUMT. Indeed it was.
Not strange, there is a bidding war for BORL…. been multiple cash bids at different levels, starting a few months ago $1
That is one dull chart, lol. Strange indeed, think it will step ladder up to $5?
Boys and Girls stay away from these companies who have buyouts… it’s plain gambling. Sometimes you win, sometimes you lose… it’s not work!
BORL is a good win if you get long a stock thats been bought out.
CRGN has done nothing, HUN is a deal gone bust, HAR is a deal gone bad (2 year ago)….
It’s simply not worth it
Ah, my curiosity is satisfied. Thanks for the info. (I wasnt going to buy it, I just thought you all might find it as interesting as I did)
CL sell 62.90 +.15
bitch tried to take my fish.
I hate when someone tries taking my fish.
CA - You like FCX on the daily?
no
Thx. It looked to be setup in a decending triangle…
Yippeee. another Ponzi scheme uncovered..just blow up the fucking SEC building now..start from scratch. People who steal are the scum of the earth….we should just hang them in front of Starbucks..
Most beautifulest chart of the day goes to ZB - 30 yr bonds
Just noticed they got rid of the fast money chart music. Can’t say that I miss it.
Kman,
The tells on FCX are HG (copper futures) & GC (gold futures) or GLD - the ascending triangle
set-ups for copper & gold were much cleaner - and both just had VERY nice moves.
Thanks Retox. FCX just had a nice move off 45.15 (ish). I should of clarified I was looking at a 5 month daily chart.
And obviously as a short setu w/ a break below 45. Anyway, thanks.
Back to my real job. The market needs a bounce or we revisit the low 800’s in my very humble opinion.
ahh, I’m mostly on 1 minute charts - almost all of my trades are scalps.
That was a killer set-up for FCX though if you were watching the underlyings. The GC trade would have been ~$500 per contract if you nailed the exit.
That’s why I love futures - there is always a great set-up somewhere.
AA B/O
UNG halted
news pending…
UNG US Natural Gas ETF discloses it will temporarily suspend the issuance of additional Creation Baskets until the SEC declares effective the registration statement on Form S-3 (12.63 +0.07) -Update- Co discloses that on July 6, 2009, it announced that only 32.1 mln of its units registered with the SEC were available for purchase by UNG’s Authorized Purchasers. As stated in its current prospectus, UNG creates and redeems units in blocks of 100k units called “Creation Baskets” and “Redemption Baskets,” respectively. Only Authorized Purchasers may purchase or redeem Creation Baskets or Redemption Baskets. As of July 7, 2009, UNG issued all of the remaining outstanding units to its Authorized Purchasers. As a result of these issuances, UNG will temporarily suspend the issuance of additional Creation Baskets until the SEC declares effective the registration statement on Form S-3 which was initially filed on June 5, 2009 and registers an additional 1 bln units. This registration statement is currently subject to review and comment by the SEC, the Financial Regulatory Industry Association and the National Futures Association. The suspension of the issuance of Creation Baskets has no effect on the ability of Authorized Purchasers to redeem baskets of units. (currently halted)
UNG is a “too big to fail” mess waiting to happen.
It would be like FAS owning 80% of all bank stock floats.
Agree way to much fuckery to behold for me to deal with in addition to all the other shit we face trading daily. I exited that trade fortunately on top and will not be dragged back into it.
UNG:
…controls about 78% of ALL nat gas trading activity…
…(they have) no experience dealing with / unwinding / rolling positions like this (this size)…
…no one entity has ever controlled this much of any futures contract…
UNG is trading again
The UNG trade halt (not the actual news - just the halt) caused a sell-off in nat gas futures equal to about a $1200 loss per NG contract held.
That is so fucking backwards…
BOOOYAAHHH! Sold UNG @ 12.56 on the open after the halt. So freaking lucky!
long CENX at 5.51
ICE!
testing 200 day again…
Broke the support … yippie
!
Gave it up like my friend’s sister - not the cute one - the one with one leg shorter than the other.
<879 SPX would be the real kick in the crotch.
Neckline is broken
still lots of support (congestion) for the next few points no?
VICL unusual volume 1 min
Don’t think we’re getting back over the 200 day MA (SPX) so I’m selling out of the small position I took at 2.70
Bond uptrend & Euro/USD downtrend getting tired - may be good for the market - or just confusion/hesitation
a move back over 200 day and I’m long Euro, short 30 yr, long ES… all 3 are setting up nicly
100% cash. -1.7% for the day. I’ll be busy this entire week.
Still up slightly over 200% YTD. I won’t give that up.
perfect
Sh*t hits the fan and RICK is in BO mode.
ES - gotta get a bounce here
Rifin broke 600 again, feels like we’re gravitating towards something unpleasant.
Out LVLT 1.39 (1.54)
Out CNXT 1.19 (1.39)
Ouch. Fools rush in–apt phrase for me today.
going long a little ES overnight
877 entry
879 PT
no stop
Long Euro futures 1.3912
stop at 1.3894
PT 1.3937
U guys remember that Josh kid? He’s long now, since Sunday (/ES). lol…wow
He posts on the xTrends blog now. I believe one of his recent comments said he closed FAS and is now going short.
http://xtrends.blogspot.com/2009/07/bot-xjzsl-btw-066-07.html#disqus_thread
Why was he banned again?
because he was kind of a hateful prick one day…
he was wrong with his market calls for about 35 straight days. then one day he said something like, “I absolutely guarantee that we will close down today.” Fly said, “If we close up, you are fucking banned.” you can guess what happened
This must have happened while I was away. The only thing I saw was Fly’s “F*ck you, you’re banned” post. Thanks Franky+Gunners, I can’t believe I missed all that hateful action lol.
it was classic — joyous, mean-as-shit-and-meant-it fly. a golden day i’ll ne’er forget.
It was totally coming.
on margin…
He must have a salary/trust fund/extortion ring in the millions to eat all the losses he takes. Talk about a risk tolerance, poor kid.
He has his own blog:
http://tacharts101.blogspot.com/
He’s just wrong, wrong, wrong. All of the fucking time. A disgrace to all technical analysts.
Don’t even think about clicking that link. Pop up galore when exiting the site. I had to shut down my computer.
i think financials are ripe for a tank and thinking of buying FAZ after hours. does anybody think URE and ERX will bounce in the morrow? buy now and sell in the morning?
Someone. Anyone. Save me from myself!
What is going on here
i’m pathetic, i know.
don’t think like that.
fuck it. bought ERX. will sell in the morning after the tiniest pop…
ES hit PT above +2
boring…
How much %wise are you pulling in on ES daily? Seems every 20 mins you’re posting another +1.5, +1, +2
Mike,
I’ll probably catch shit for it but I don’t really watch my % moves every day. I have other long-term investments and this is really an income account so my goals are $ per week.
I don’t only trade ES but I’ve been calling those because the set-ups are frequent and most are used to watching the SPX anyway. The point is that what CA teaches can be applied to futures, forex, etc. I will probably be calling them less and less because I don’t want to shit the joint up too much. I think the points been made…
This week - today especially has been great - ZB (30 year bonds) had killer set-ups, the Euro (6E)
was awesome all day - look at the 5 minute chart H&S on the day. I’ve been watching CL (crude oil) lately and i’ve had some nice profits there. Gold & copper are usually on my list but I missed really nice set-ups there today - oh well.
I, for one, would like to see more futures on IBC but, in the end, it’s all just numbers moving around anyway so we’re in the same boat no matter what. A flag is a flag and a triangle is a triangle.
Right, the stuff we use for stocks applies to all markets. I don’t trade just stocks either, but it’s my fav trading vehicle.
Retox - I like your style.
Classic CA right here: We’re in the midst of a market shit storm and 10 min before the bell on twitter he says — “Any end of day charting requests? Let me know.”
True baller.
Ring - Hope you got out of YGE, i just took a look at this thing… they’ve gotten HOMO-HAMMERED! It was 13.80 on Jun 30th.
June 30th post: “Ring - i see why you say YGE looks good for you. But it is currently vulnerable in my opinion. You should take a look at the USO, double top? If so and oil falls for the next few days, you’ll be hammered in all the alternative energy plays.”
I’m up about 25% on YGE short . Sell on the news for a few weeks now.
Gio - Wish i could say the same, cant get a borrow on any of these crappy solar names.
Right now it’s hard, that’s why I’m hesitating to cover, cuz I know I’ll have trouble getting back in. There are shares in FSLR and SPWRA but that’s a little tougher. Did you try CSIQ, SOL?
Ouch NEXM down 55% in afterhours…. take cover!
CA, how bout MFC, EXH, FCS, SQNM, BDSI, TIE, PVA, WLL & IVN?
I’ll ck stocktwits for your response .. thanks, hope I’m not too late.
you are too late.
Thanks for the response …. just found you at stocktwits and wasn’t a member so I thought I’d try to catch you here at home … I’ll try again if I catch you before last call … meanwhile, have a triple GG on me!
I’m just fucking with you.
Fair enough … Thanks for your analysis, always helps to have an extra set of eyes.
BDSI is awaiting a delayed FDA decision of a NDA. News is expected between 6/22 and 7/13 - we are getting down to the nitty gritty here so this is one to watch despite looking “finished” per the chart.
Won’t be trading today. I got shit to do.
At a minimum, expect inside doji day.
Watching LVLT
ISRL on fire!… just called no borrow available, fail to deliver securities all over the street. Shorts are going to be forced to cover at any price. Hope i didnt get you guys caught up in this one. Sorry!
MVIS. GETS 1 MLN CONTRACT
NVGN, MSHL - secret sauce
the nascrack it back, bitches. nascrack.com
Keeping eye on AHD, IO, HW
My watch list for the day is bupkis except PLAB, but I didn’t have the stomach for that one so I missed out. That plus what I’m seeing in the indexes + the fact I don’t know enough to short (yet) means my pile ‘o cash from last week continues patiently on the sidelines and I’m going to play rather than stress.
Doc,
if you aren’t trading today, paper trade /CL, /ES, /6E (watch for short and long set-ups) for a few hours - it will make you better and faster at trading chart patterns.
I’ve been doing this for the past two days after watching your string of successes. lol (there goes ES eek)
ES - no bounce here would be bad
WALKING INTO A SHIT STORM - PUT YOUR GOGGLES ON
AMEN!
Agreed. Watching SRS (22.50 -23.) here which has been a very reliable trade for me in the past.
Has been here 2X before, will have to wait for a pullback. I’ve had enough failed break outs lately.
Would love to be trading futures again. Would have to renew my prescription for propranalol (beta blocker)
lol!
short Euro, ES, & crude
long 30 yr bonds
criminal gains and I’m only taking small chunks out of these moves
the risk trade is O-V-E-R
Retox - I should be doing much more of that and plan to if I can ever get rid of some of my deadlines this summer. I’m inclined to test a bit of SMN since commodities are really the only index besides AG not below the 200 day, I can’t see any reason why it should be spared a further flaying.
Went ahead and committed a half position to SMN. We’ll see, maybe it’s the month of rain here in Maine, but just doesn’t feel like there’s a bounce in the air today.
Doc,
I’m in Maine, too. I think we’ve broke the record set in 1900 or so for continual rain /clouds.
We are all getting pretty squirrelly.
875 major support
Crude should catch support here & at 59.70 especially with 6E (Euro/USD) hitting 50 DMA and 1.3800. not taking many more short set-ups in these today.
Who told me not to worry about ATSG and i’m missing the big picture yesterday afternoon?
Juiceyfruit… come on man
EUR/JPY is fucking collapsing, just broke from 131.30 to 129 over the past 1 hour.
watching ES & ZB walk their trend lines - gives good entries for quick scalps with tightly defined stops
geez 127 now EURJPY…. everybody fleeing to safety
…should be looking for defensive stocks in b/o patterns
SRS still waiting for a pullback lol
ZB - BTFO
6E - BTFO
Looking at $LSI on the weekly. Thoughts?
http://i587.photobucket.com/albums/ss311/chartaddict1/LSI.png
You see that level right under $5? My guess is that LSI will be hanging out below it for a while.
Thanks CA.
Whats up With $BEE ? 4M shares at 12:50? Or is that a glitch?
not glitch.
GY consolidating after a nice move up the last day or two but has room for much more upside coming off a double bottom, positive earnings report and challenging the 50 …. yes I do own it for my LT account.
ACCL worth watching to see how this resolves…
been riding the 20 day for almost 4 months - sitting right on it now - should provide support for an entry with a good stop.
Euro drops now
yes, yes, +9 pips
right on time
Love AHD chart.
okay, bate taken - adding a little ACCL right here with a PT @ 5.90 & a stop @ 5.59 for today - will walk the stop up daily just below the trend line on the day chart in case it breaks down instead of up.
Private + Live One-on_One Coaching Program Details:
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thank you GS bots!
Bought USO at 32.57 and DZO 22.25 for a quick bounce. USO fallen too hard and fast, s-t bounce at trend line.
correction above - dzz