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 thoughts on “Monday’s Trading – 7/27/09

  1. 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.

  2. 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.

  3. 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! 😛

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

  5. 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……

  6. 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.

  7. Tres Amigas and Tres Cruzars nice for good entries.

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


  8. 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

  9. 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.

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

  11. 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.


  12. 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.

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

  14. phil,

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

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

  15. 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.


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

  17. Stringm:

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

  18. 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!!!


    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!!!!

  20. 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.


  21. K:

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

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