Last night we focused on a few things that help identify market bottoming processes. One thing that we focused on from yesterday was that the sell-off at the open was followed by multiple new lows throughout the day in all indices except the Russell. These subtle divergences are important at lows, especially by an instrument that has overall lagged the market, and fallen the hardest recently as the market weakened.
Today, this intraday action should be monitored the same way. While the NASDAQ, SPX, and DOW are heading towards lows, trading under VWAP, etc…notice the Russell is doing something different.
After the bell we’ll be creating next weeks watchlist based on our technical biases discussed last night. Make sure to bring a few ideas to contribute.
OA
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would you recommend waiting on intiating positions? i still haven’t taken the NFLX, AMZN, or GOOGL trades.
dollar most overbought in 30 years. 40% above 200 day MA.
buy NUGT
STFU ASSHOLE.
GOLD IS DEAD. FUCKING DEAD, just like your brain.
hilarious when you will be pimping it soon. mark your post
I especially love promissory notes without any concept of downside, opportunity cost or time wasted…
Like gold will go up “one day”. I’m sure people said that in the 80s and 40 years later it didn’t even beat inflation but “just wait” meanwhile, your life is losing premium, and if you had just put that capital to work in any halfway decent fashion, or even set only a small portion of it on fire rather than all, you could buy more gold now than you could 2yrs ago. Just hurry up and capitulate and tell all your cult like friends so it can bottom and then I can buy under $1000.
LOLLLLLLLLLLLLLL
gold must be close to a bottom
You are literally not even worth acknowledging anymore. You like Gold, we get it. You have made your opinion exceedingly clear.
If you’re right about things, come back in a few months, tell us off, and wag your genitalia around — until then, kindly STFU.
Sincerely,
Everyone in Here
Literally, everyone here. Like, everyone got together and signed this. Really. Shut the FUCK up.
STFU!
sorry replied to the wrong comment…
You just said “genitalia”.
Did you also vote for Ron Paul?
OA is so cool he pisses ice cubes.
homo alert
You piece of shit. I cannot believe you have the fucking balls to come here and suggest NUGT, down 37% this month alone. You should literally shoot yourself out from a carnivale cannon and juggle melons for a living.
didnt you bann this guy
yes, please ban this idiot.
I love your handle, I was thinking of going with sdjfhasdkjfhasdjklf.
…while I take totes
OA, you still in SINA?
For a stock that is threatening to make 52 week lows, volume is almost non existent, and BB on the weekly more compressed then they have ever been.
I have a small stock position I will complete in the future.
sorry, what do you mean by complete? you mean add to make it a full size position?
Err…you buy a few shares…then buy more…and more…until you have a full sized position.
i know that. I know you initiated position on SINA a while ago so thought you might have already been at full size. was just checking.
http://www.marketoracle.co.uk/Article47438.html
BAM!
dfjas in his second gig: https://www.youtube.com/watch?v=OBTdVeUkTJ0
LOL only thing missing is a buy NUGT banner trailing behind him
OA,
Would you explain how the Russell is doing something different today? I can’t seems to see it.
Sorry, I thought my post explained it. North of VWAP, not testing session lows with everything at the time of this post.
I used the word subtle, but this is what we analyze as we watch the market live.
Thanks!
Jeff – what’s your take on Natty? I posted about it last night…looks like it put in a buy signal on your oscillator back in mid and late July. Huge speculative short interest in it. Highest ever I believe.
My indicators are relatively oversold, which means limited downside/upside risk.
Not doing a great job of lifting yet.
There is major disturbance in the force. Market is topping as we speak. Expect a massive sell-off starting Oct 6.
Time to start positioning one’s self with deep out of the money SPY puts
How about you let us know what you bought and how much you paid? That way we can track how much money you make with your epic call!!
Can I start posting all your market top comments from last year? Please? Let’s start here…
Sethster99
Submitted on 2013/11/29 at 6:22 pm
Wow, they really caught you guys leaning the wrong way. Take a looksie at the VIX the last 10 minutes of the day. Can you say parabolic? Look out below, we have topped.
hahahahahahahahahahahaha
don’t forget your tin foil hat!
Major increase in useless posters that’s for sure
JMEI?
TRTC?
I just went with FSLR. Bought the underlying.
Stay Frosty everyone. Bulls not out of the woods yet.
Agreed, weak bounce so far. I don’t think these lows hold.
BlueStar, this is probably the oddest compliment I’ve given in a while, but you are the ONLY guy around here from the bearish camp with ONE GODDAMN MOLECULE of sense in their head. You make being wrong look good.
Thanks,
In may i was up 9% being short until i got crushed and went down 4%. I am now up 8%. I bought IWM puts at the end of august and 9/4. My play here is the Paul Tudor Jones and jesse livermore approach. Prob the trading cycle tops for the evenutal big break then press. If i am I am right my 10% put position turns into 100% gain on capital. downside max 10%. I am convinced we are close to a top. I hate running with the pack. By the way most bears likley have zero capital at risk. They just talk shit.
Jesse Livermore approach? Make a bunch of money, lose it all like an ass and kill yourself?
Yes jesse had issues.
props bluestar
Much respect.
Livermore would be bullish here.
my indicator also approaching oversold, but oversold can stay for a while when trending. i am looking for /es another 15-20 points lower, then see what shows up.
Did the NYMO work off oversold levels today?
Jeff thanks for the reply. I picked up ugaz at 13.9 yesterday and more today. Like the setup so far
Current Positions
Short – SCTY SLCA SINA
Long – AMBA
Think a bounce is coming here, but trend remains down IMO
GL to all.
http://www.brobible.com/life/article/shawshank-redemption-tunnel-house/
Best. Story. Ever.
OA, you take a bite of BHI yet?
Not yet but soon.
I’ve been watching that too. I added to my PACB position today. You might like that one as well.
OA sir, I will miss the webinar this evening due to work. If you don’t mind please have a look at LOCO as a long idea for me. Thank you in advance.
Jeff- Could you take a couple mins in an upcoming webinar and talk about your exit strategy. In other words, say you have an option position with October expiry that is already up 100% or 200%, etc. I know we let our winners run here but do you have a rule of thumb to when you book gains or is it based mostly off of looking at the profile?
Thanks my man.
Targets are the key, timing (expiration dates) are the variable. We will discuss though.
OA, around 10:45am today the DOW hit its low, while the Russell has been in a general uptrend throughout the day. Is that what you mean by testing lows and seeing subtle divergences? Thanks for all the help and teachings.
Yes, I’ll illustrate this again after the close.
Good to hear. It’s much more satisfying learning something and applying than just blindly following. Again, I appreciate the lessons and teachings.
KORS lookin broke
BITA, MU, AOL(??), JKS, LNKD(??) man stock trading is like trying to escape the maze runner alive
Portfolio is down 10% this week… man im going to go buy some krispy kreme and frappucinos and pass out from sugar overdose
I promise, you will make that back in a fraction of the time it happened. That’s the nature of the style.
thanks for the comforting words
Ask around, it works.
That was a high TICK
TRTC continues to be epic. Up 50% last two days. Eric Holder looks to be softening the govt stance on marijuana on his way out.