Keep watch on the flat base that is forming. If it continues to form, then we have a bearish continuation pattern in development. This action is marked by a doji inside day. If a doji inside day is formed, then I will consider adding short positions before the close. Otherwise, I will stick with the higher probability long positions.
CA, are you still holding FAZ as a swing?
CA-thanks for the charts and thoughts…good trading to all. Looking for a weak bounce that is faded late today with resumption of correction thru the week.
CTIC acting solid so far.
ARIA l
Nice caught some NVAX off the 8am news… in @ 4.80
Out @ 5.01… not sure about the news… how big it will be for the stock.
Will revisit
HURN, NVAX, are all up premarket.
PPI number didn’t help market much.
RTK spiked
AXL
RTK ripping
Watching ARM right near the breakout this morning. Covered my ARM short from yesterday and may go long on it.
Shorted LUV at 8.79
INO running. kind of…
grh
fuck me. while decided whether to throw money at DVAX it popped. WITHOUT ME.
BPOP
watching VM
NCS 3.75
ARM breaking out. In at 8.35
Banking some serious coin on AXL
Good lord… have mercy
Atta Boy you Kill it! Didn’t have balls to play AXL again …. good on ya …. I am banking some on my BPOP although nowhere near your action … don’t forget to cash in LOL
thanks milan! took half off. stretching the limit here to see how far this baby can fly
taking off another half.
I’m out. in cash.
CVM
OWW 4.79
bpop
Large buyer in C, somebody loading up in size, wont let the stock come in… this stock is going to rip through 4.25….
WNC
CTIC…wanting to go..
bought $BPOP 1.58
Bought $BZ $3.51
OCLS
OCLS @ 2.6
AEZS @ 1.05
Out OCLS 2.57, AEZS 1.05.
RDN
AVNR
AVNR imminent…
NVAX
ISR
RDN 7.98
Bought $SVA $5.13
OWW @ 5
out of OWW, in cash.
Bought $OWW $4.99
Sold $INO $2.17/8
fitb
Yes, you’ve managed to make a lot of money, but you’re still spiritually dead inside, aren’t you?
And the everyday drive continues onward, searching for more to fill the void…
And the hungry white ghosts congregate around you, lusting after your perceived ability to fill the void in them.
WTF? lol
Whoa, I think you nailed me like a laser beam. Usually it’s like $75 an hour to get someone to tell me that.
bought VM @ 4.90
Bought $AVNR $2.28
Bought $THC 5.02
Bought $YRCW $2.09
I would be very interested in any feedback from this…
For the past couple of weeks, I’ve been working with a friend of mine. He trades futures in a retirement account and is not permitted to go short.
From a discipline standpoint, long only is harder than it sounds especially during the past couple of days.
I took a quick look at the SPX analysis by CA and, as usual, he appears to nail the market in 4 sentences.
As an aside, we are watching the Euro futures for possible high probability long entries. There may be a couple coming up and, since the USD/SPX correlation is still relatively intact, it makes a lot of sense to watch both very closely.
I’m not saying we will trade down to these levels on the Euro BUT, if we do, they should provide great entry points for 50+ pip trades with a highly defined & limited downside risk / exit.
You will note that the posted chart is EUR/USD rather than Euro futures. We do trade the futures only for this portfolio but the EUR/USD chart gives the extra hour from 5pm to 6pm while the futures market is closed. Conversely, there is no volume shown in Forex.
http://s699.photobucket.com/albums/vv352/retox13/?action=view¤t=eurousdaug18.jpg
Sold $BPOP 1.77, $AVNR $2.32
ARIA
Not posting anymore. I gave enough picks for the day. I’m busy.
On the FAZ leading intraday indicator, this morning right around 11 AM, FAZ broke down its morning tight range. It seemed to lead BGZ by a full 10 minutes at least. BGZ didn’t really break down hard till about 11:30. I may have to try to trade this next time. I have seen it enough to convince me of it.
How long have you been following this? I like this approach of using FAZ as a leading indicator for a scalp trade.
I have been watching it since June sometime but really watching it more closely the last few weeks. I have been looking at a variety of intraday pair trades or comparison trades like this. I like this and VXX as the best intraday indicators. But FAZ seems to be the best and clearest. I really have not been organized about it, I was going to start tracking on paper the accuracy of it.
Look at FAZ right now, it looks like it is forming a base, if it rallies off that base, I bet the market will sell off after that and BGZ will move up after FAZ does.
Okay, the opposite happened. FAZ broke down from the range and BGZ came following. This time pretty close in time but there still seemed to be an edge. As FAZ convincingly broke down, BGZ was still not quite as clear of a break but then BGZ finally followed in a clear way. If anything, FAZ seems to really be a better day trading ETF, it seems to really follow basic charting quite well intraday.
long CPF 2.75
Out of CPF, all in cash.
ARIA looks ready….
Bought SIRI at .5728
thoughts on this very powerful ‘island reversal’ pattern on the nasdaq with the two gaps on 7/30 and on 8/17; very bearish looking
RDN hopefully forming base for second push
PDS
good lord… AXL BTFO!
As a Cowboys fan, FUCK YOU BRETT FAVRE! … cant believe how unprofessional he is about his retirements
SPX in a wedge (5min) – getting tired – possible reversal coming (short entry)
30 yr bonds not convinced that SPX will continue the up trend
Euro getting close to resistance 1.4150 – possible reversal coming (short entry)
Agree on that read on the intraday market action. Definitely feeling exhausted here…
Euro short is working – watching to see if SPX follows for the exit – looks good.
I am waiting for FAZ (my favorite intraday indicator as of late) reverses its downttrend for the day.
I like the FAZ thing – I was keen on using FAS during the recent rise in the same way – haven’t had much time for trading / posting as my regular job is pretty consuming, but these seem to be pretty decent tells for the overal trend.
Reloading AAPL sept.-160 puts here-$4.50
PMI second run possible…
out with only 2 pips – but hey, it’s nice to see some buyers coming in
rebought RTK @ 1.75
Sold @ 1.83
good job pissant, I missed it
sold CNTF (from yesterday 2.83) 2.85
bought FAZ 27.20
Short AXL at 5.26
cover 5.05
RTK again
As usual everybody is waiting for a sell off so it doesn’t happen. I have to believe we will rip into the close.
so are you buying anything..or just chatting..?
I’m long Euro futures for a move back to 1.4200
1.4150 has been strong resistance but I’m willing to try my luck on that.
bought ISR 1.28
Not playing it but keep an eye on ETFC
Short A at 25.40
cover 25.44
all out RTK
switching to sympathy play SYNM
put on a healthy position LVLT … stoch & macd look close to turning
bought ARIA 2.27
Nice 10% gain OWW… out @ 5.50
ARM picking up some bids, hoping it will make a secondary breakout here.
I am already done for the day thanks to my previous position in BPOP (Disclaimer as noted in PPT I through with that play) but watch for a pop above 1.75-76 although I personally will not push my luck here today…. this ain’t no AXL 😉
Nice man, how much did you make?
Looking for inspiration…
sold half OWW 5.5
sold half GSL 1.97 (1.63)
SYNM 2.83
stopped out of NCS 3.83
Short HURN at $18.58
Stopped out
distribution day…either you sell into it, or short…buying…hahahahahhhhhhhhhhhhhhhhhhhhaaaa…no.
we are missing the higher volume component for a distribution day
Call me Costanza but, if Asia & Europe are up tonight & futures show strength overnight, it wouldn’t take much more than some short covering and a little follow-through exuberance for a spike back to the 1013/1017 range.
like i said.distribution day…asia not up…
Boys and Girls… its time to load up on C… i’m in @ 4.05 this morning…. 4.17 resistance, followed by 4.24…. then its off to the races.
sold CLZR 1.35 (1.31)
MERC wtf
sold everything – don’t know if i will be able to trade tomorrow.
good luck to all!
shame GSL looks good, as does SYNM and OWW
mkt retraced 1/2 of losses and met resistance – long Aug 100 strike SPY Puts at 1.36
Overnights: $YRCW, $FRZ, $CTIC
and TZA
CA, are you putting on TZA because you like the chart or just to hedge your longs?
Yeah…. because the chart looks great… i cant see where the etf trades at on a 1 year chart. Looks like the TZA got scared and crawled up someone’s ass!
HE FUCKING USED IT FOR A HEDGE, MORON
No need to be an asshole.
Ug. You’re back again? How many times have we banned you?
Look. You aren’t wanted here. I know you don’t get that, sitting alone in your studio apartment, masturbating to whatever is on Lifetime TV, but you need to understand something:
You are a cunt. You should have been aborted. Seriously, I blame your parents.
Now go back to posting on the YouTube boards. Seems more your speed.
Overnights CTIC and SVA. SVA chart looks much better than YRCW to me due to much higher increase in volume.
The douche over at MarketSci just issued you a major takedown:
http://marketsci.wordpress.com/2009/08/18/goodbye-green-faucet-and-seeking-alpha-hello-bullshit-free-blogging/#comments
Out half of my Euro long mentioned above at 1.4172 + 60 pips
The rest stays until we hit 1.4197.
anyone getting into RTK at this point, looks like it could have a promising future
cvm suggested long …