Monday’s Trading – 7/27/09

Last week, the SPX hit resistance in the 979 area and then closed at 979.26. And that was only 0.02 points away from the 979.22 Fibonacci level that I calculated back in the Box of Miracles almost two months ago. How’s that for accuracy? Since the market is still respecting those Fib levels, the next three should prove important also if the SPX continues to rally.

74 Responses to “Monday’s Trading – 7/27/09”

  1. K says:

    as promised Pivots for SPX

    R3 999.39
    R2 989.59
    R1 985.55
    P 975.75
    S1 971.71
    S2 961.91
    S3 957.87

  2. George says:

    SPY using 15min 36ma support.

  3. K says:

    housing market propped market just now

  4. K says:

    982.49 looks to me like we have witnessed the top from the way the candlestick looks lol

  5. George says:

    That post I made about SPY support on 15min 36MA was in the “Ext.session” mode. In regular mode, it has not made it down to that MA.

  6. after says:

    sitting on my hands for today so far. last i checked DXD it was up a whole penny…those spy aug 92 puts / SRS have tempted me, but no moves yet.

  7. George says:

    UYG, and others, still not up to a point where there could be a significant reversal. Not saying it will continue up, but if there is a correction, may not be real strong before moving up again.

    …and you KNOW what my predictions are worth! :P

  8. K says:

    they’re worth an ounce of gold george!

  9. George says:

    SDS gave a Tres Cruzars ~10AM. Traded it, but waiting to see if it holds or just a short scalp.

  10. George says:

    Hey, K… I have a couple of those Gold Dollars, does that count?

  11. George says:

    SPY has almost lost the 36ma.

  12. K says:

    SPX going for 971.71 S1 pivot let’s cheer it on!

  13. George says:

    Yippe Ki Ya! …or is that Yuppie Ki Ya? Whatever… cheers!

  14. K says:

    oh got so closeeee YIPPEE

  15. K says:

    975.55 it is now if it no longer wants to go down

  16. phil says:

    george……..waiting for break of friday low to BUY…..prob QQQQ will be first to break….then start to load up on longs ….the correction will not last long…..again beware of HUGE up GAP to trap bears for next EXPLOSION upwards……

  17. George says:

    We’re at month-end also. That could prop things up a while longer before a significant correction.

    Go away in August? We need a rhyme with that.

  18. George says:

    Tres Amigas and Tres Cruzars nice for good entries.

    Where it goes, nobody knows, but they’ll let you dip your toes.

    Scalps-Я-Us

  19. Mitch says:

    The new home # did not break my way.

  20. K says:

    975.55 reached ALMOST. now where do we head? I say let’s visit out friend at 971.71 again life is more beautiful down shouth

  21. Mitch says:

    Although the inverses are pesky today.

  22. K says:

    everything is weird today. we’ll see market wants north i want south.

  23. Mitch says:

    K:

    “Weird” could be telling.

  24. George says:

    I got .50c on the first jaunt up of SDS, the remainder is a freebee until it hits the entry price.

    Meanwhile, I’m scalping BBT with Tres Cruzars and I’m in SSO because it had a Tres Cruzars using a break above the 15min 36ma.

    These may only be shorts, but so far, nice moves.

  25. K says:

    i hope matt is ziggzagging automatically today

  26. George says:

    SPY will hit resistance shortly on the 5min 36ma and 15min 9ma. Could be time to cut and run on the underlying.

  27. K says:

    eur/usd was down today before the market crshed and usd/jpy skyrocketed so this was expected

  28. George says:

    K, LOL

    Today should be nice for Ziggy. KISS a frog’s head will be too. :)

  29. George says:

    I think SPY is going to a double top before anything happens. Around that R1 area on SPX.

  30. George says:

    Nope, Cut and run time.

  31. George says:

    Matt,

    Does TS have the ability to manage an ongoing trade? Like continually running through the code to test for multiple conditions. Not merely buys and sell with various “or” and “and” statements, but “if this, do this” type of code.

    Tks

  32. phil says:

    george…….pullback to 944 spx would be MOAG…..doubt it will fall that far http://evilspeculator.com/wp-content/uploads/2009/07/2009-07-26_spx.png

  33. George says:

    Sideways looks like a possibility.

  34. George says:

    I still have 1/4 alive and well in SDS. Will jump in again if it sets up.

  35. Mitch says:

    Too easy to go long. Too hard to short.

  36. George says:

    I got me a window A/C for my office, which is dedicated to trading. Even with the main A/C on, it is hot. Nice in the winter though.

    August here is very hot and it extends into September and sometimes in October. Yep, there will be those 75-85 degree days when the main A/C won’t kick on and it gets very hot in the office with the buildup of heat from all of this equipment.

    Speaking of hot, those flat-panel TVs put out a bodacious amount of heat. No way are they more energy efficient than the older tube-type. My tube Sony only used less than 100 watts. This new Sony 46″ uses 300watts+. Add the amp, BD, VCR, Power Surge Protector, Roku, and cable converter, all is needed is a camera to film the spontaneous combustion.

    Ahhh, nice cool air for a hot market.

  37. phil says:

    george… QQQQ @ 38.70 would be a MOAG

  38. Mitch says:

    I got out of SMN earlier today. However, by Fri. this gutsy play could pay off. It’s showing a 5mn buy (to me).

  39. paula says:

    George…coolest trader on the planet.

  40. George says:

    paula,

    You got that right, I have it blowing on my machines and me (in that order).

  41. George says:

    phil,

    You called it – moving sideways.

    SPY is now trying to bust that top.

  42. George says:

    Stringm,

    I don’t have my code running. Is yours picking up all these Tres Cruzars?

  43. George says:

    SPY right at that double top.

  44. George says:

    SPY gapped down out of that top. Unusual. Maybe it’s a fakeout and will punch through.

  45. phil says:

    george….i see a triangle in qqqq….going to buy QLD at first sign of strength

  46. George says:

    phil,

    I’ll be waiting too. Right now, everything bearish sort-of.

  47. George says:

    Qs dropping down on 5min to support. Let’s see what happens here.

  48. phil says:

    bot QLD @ 43.98….looking for post triangle thrust to 45.40 daily boll band

  49. phil says:

    george …..look at 5 day or 10 d qqqq on 5 min chart….see the triangle???

  50. phil says:

    here come da THRUST !

  51. George says:

    phil,

    YES! Nice. haha. I didn’t see the triangle, but caught the move.

    Hey, that brought it back up to double tops again.

  52. Mitch says:

    phil:

    Very good catch with QLD.

  53. admin says:

    George,

    Re: Your 11:27am questions.

    Yes, TradeStation does all of that in a very sophisticated way. In fact, I’m guessing that a program like Ziggy is not possible with TOS, StrategyDesk, or any of the other lower-tier platforms.

    Matt

  54. phil says:

    george…mitch…..thanks !

  55. George says:

    Some good trading today – good moves. There were Tres Cruzars flip-flops all over today due to ranging – Ziggy was probably zagged to death.

  56. George says:

    Matt,

    That sounds super. Thanks.

  57. George says:

    Check out the latest short-bashing from K’s back yard:

    http://tinyurl.com/lwb5kc

  58. Mitch says:

    Stringm:

    I’m trading. Working with a little more ammo than before my little intermission. Quiet board today.

  59. K says:

    George,
    Don’t blame me!!!

    and CRACK SNAPPLE POP TOS says their code can’t run 4hr interval.. either 1h or D for what I want to do BLAST IT!!!

  60. K says:

    OOOOOOOOOOOOOO

    K Says:
    July 27th, 2009 at 10:11 am
    982.49 looks to me like we have witnessed the top from the way the candlestick looks lol

    LOL GO ME!!!!

  61. Mitch says:

    K:

    Nice!! What are Woody’s new pivots?

  62. K says:

    S&P futures.. for 27th 4:30PM to 28th 4:29PM

    R3 1001
    R2 992.5
    R1 986
    P 977.5
    S1 971
    S2 962.5
    S3 956

  63. Mitch says:

    K:

    Appreciate it!

    No futures/for 7-28:

    989
    985

    979

    975
    969

  64. Stringm says:

    Mitch

    Nothing like a little R&R and fresh ammo. I am going to try an intermission until I get some things worked out on KISS a Turtlehead or the market pulls back. It might go to the moon, but I suspect the retreat will be harder if it does.

    String

  65. Mitch says:

    String:

    gotcha. And I agree with you on the banks so I was surprised by today’s move.

  66. K says:

    mitch where u get those $’s?

  67. Mitch says:

    K:

    The pivot #’s?

  68. K says:

    haha my mind is $$$$$$$$$ yes the #’s. are they woodie’s ? or other pivots

  69. Mitch says:

    K:

    LOL, got them from here (this blog). I guess they are right – I stopped at the decimal.

  70. George says:

    Peter Schiff and others with CNBC optimist… is the recession over?

    http://tinyurl.com/n4t5y7

  71. George says:

    Those talking about pivots, here is the cool link that will calculate any symbol:

    http://www.livecharts.co.uk/pivot_points/pivot_points.php

  72. junglegirl says:

    Yerk,

    I appreciate the link to the German site. Guess I will have to rely on you to interpret… and thanks for doing so!