The NASDAQ-100 looks poised to test its October 2nd intra-day low of 1656.57 on Monday. Here is a daily NDX chart (click to enlarge):
Notice that the red uptrend line is converging with the blue support line.
The NDX is closer to testing its October 2nd low than the SPX is, and the signal it gives will also likely apply to the SPX since the NDX usually leads the SPX.
This test may occur Sunday night in the futures, so the equivalent low for the NDX futures (NQ) is 1652.75; only 13 points away, which is a small daily move for the NDX. The equivelent level for the SPX futures (ES) is 1012.00.
Google released a new mobile navigation app today and GPS navigation companies such as Garmin And TomTom saw their shares take a plunge. The announcement shaved $1.2 billion off of Garmin’s market cap alone.
http://www.techcrunch.com/2009/10/28/googles-new-mobile-app-cuts-gps-nav-companies-at-the-knees/
Clunkers: Taxpayers paid $24,000 per car
http://money.cnn.com/2009/10/28/autos/clunkers_analysis/index.htm
Update!
I have modified superK for longer term. let’s call it BusyK.
I want to give one example of it in action.
AAPL Buy order at 95 on march 13th is still active
was long SPY 7/17 and the past 2 days made it close out from 95-103
has been long GLD since $92
anyways as i’m writing this i stumbled upon a candle pattern on VIX and will make a blog post about it in a few. later
Here it is as promised.
New blog post:
Volatility Index $VIX Is moving higher !!! http://bit.ly/2jwgUn
Feel free to comment on it on here or over at my blog.
Happy Halloween!
Matt,
As to the chart you referenced, I didn’t know SDS was going to range at that time. I knew that the 5min and 15min were in an uptrend and the hourly’s trend was up so I could swing the 1 or 5min.
The only thing I could think of that would be a sign would be a divergence of some sort on one of the time frames. There was a lot of undulating going on at that time with all time frames.
I know that at least one time frame is trending at all times during other time frames’ ranging and ranging seems to be a move before a significant change in direction.
I’ll take a look at ranging and see if there’s anything that can be detected.
K,
Nice VIX post on your blog. BTW, VIX spelled backward is XIV which is #14. Is there anything to that?
Boooooo!
and BTW is Spelled WTB which is “Want To Buy” LOL
hehe
boo ! happy halloween all !
after,,, that was SPOOKY!
re-examining my forex comeback
in 34 trades since oct 7th 10 winners and 24 losers (29% winners)
Average loss -13.6 while average gain 27 (1.98 ratio)
Total P/L -57.11
considering what I averaged when i first started (avg gain of 5 and avg loser of 10) I would have now been at a hypothetical total P/L of -190.
saving myself $133 in 34 trades is a big accomplishment as it averages $4/more per trade. lol
sorry for my blabber.
Trick or Treat?
here is the stats from what I said above
http://i35.tinypic.com/10wtgfd.png
Not-so efficient markets, or The psychology of the investment ycle.
Kailash I have that taped to my furniture
Leave it to me to screw things !! Halloween party am early but eyeing two cougars at the lobby.
Oops gtg haha
K,
Told ya you’re addicted… to the blog.
And you George?
K, George, and String,
Google…the agile trader…click on Alan’s
site. Try his trading newsletter free for
one month.
He puts out good info, but the question
is after the month is up…do you want
to pay for it.
My night for errors…Adam’s site.
I lost a lot of money to Paula this week. Will
spend tonight and tomorrow coming up
with ways to win it back.
Hope everyone is having a great weekend.
Julie,
Me? Yeah, hooked. I’ll be on the road tomorrow all day driving by myself. But I’ll check the blog when I make stops. IF I get an AT&T signal! Should be decent reception going up I95.
Cougars were from indiana with children my age. Lol
Safe travels George.
Julie,
Agile trader was a nice read. I’m curious as to how he creates the indicator using internals. It may be worth signing up for a month. I’m going to get the book.
Thanks
New Rules! Banks Can Lie About Commercial Real Estate Loans
http://www.businessinsider.com/henry-blodget-new-rules-encourage-banks-to-lie-about-value-of-commercial-real-estate-assets-2009-11
For any of you that have read “the reminiscence of a stock operator” know who Jesse Livermore is.
I just found this cool article that might give you a fresher course on some obvious things
Seven Trading Lessons from a Legend
http://www.minyanville.com/articles/index.php?a=25187
K,,,,,AFTER reading livermore do you see you were doing the opposite before??? things are better now ..yes????
i was doing the opposite even after reading it.
I am mainly following rule number 2 (ok most of the rules but # 2 is the core of my new movement)
——————————————-
btw things are bad when my own business only manages to get 1hr of work in october. worst month in many years.
3Q 09 was by far the best Q for me as well. so i am just like main street seeing effects of imaginary wealth helping me lol
George,
The month is free…you can cancel anytime
during the month…I think you will like
Adam’s info.
Paula and I are working toward moving Mother’s
friends accounts to the broker Adam recommends
and let him auto-trade the S&P 500 e-mini for
them. We want to get back to spending full time
on our own accounts.
Hope you have a great vacation.
In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting.
…
A Goldman spokesman, Michael DuVally, said that the firm decided in December 2006 to reduce its mortgage risks and did so by selling off subprime-related securities and making myriad insurance-like bets, called credit-default swaps, to “hedge” against a housing downturn.
http://www.calculatedriskblog.com/2009/11/report-on-goldmans-bets-on-housing.html
Julie,
Any of your experts talked about this yet?
Why vaccines, antibiotics and antivirals are now obsolete- surpassed by hydrated fullerenes (C60 HYFN)
Governments around the world should fast-track the approval of hydrated fullerenes (C60 HyFNs) or Fullerene Water Solution (FWS) drinks, which are anti-microbial (both anti viral and anti bacterial) and can protect people from all colds and flu. WFS is about to be launched by Ukrainian scientists on the Ukrainian market as a natural food supplement (fullerenes are found in nano-quantities in molasses)
http://smarteconomy.typepad.com/smart_economy/2009/11/why-vaccines-antibiotics-and-antivirals-are-now-obsolete-surpassed-by-hydrated-fullerenes-c60-hyfn.html
i don’t want to get much into it but there’s also a 34 page paper on DTIC’s website if that makes it any more reliable
The Defense Technical Information Center (DTIC®) serves the DoD community as the largest central resource for DoD and government-funded scientific, technical, engineering, and business related information available today.
I’ma see if i can order some from Ukraine
A weak economy has accelerated the process of the U.S. Postal Service (USPS) becoming pretty much unnecessary due to technology and effective private options.
This is obviously bad news for the the USPS’s 656,000 employees. Yet it is also likely to be bad news for the U.S. taxpayer as well.
The writing is on the wall, but this institution is unlikely to go down without a fight given that it is the second largest employer in the U.S. after Walmart.
http://www.businessinsider.com/bailouts-going-postal-2009-11
i love this paul Krugman article
http://krugman.blogs.nytimes.com/2009/11/01/growth-and-jobs-the-lesson-of-the-clinton-years/
holy crap Jim Rogers Is following me on twitter!! amazing
K, I’m just sayin’… You draw a crowd
On Sunday afternoon, the company filed for Chapter 11 — but under a so-called prepackaged bankruptcy plan that will enable it to emerge from court protection by the end of the year.
Sunday’s filing, made in a Manhattan federal court, caps months of efforts by CIT to stay alive.
well there it came as expected!
Not yet K. But it sounds like a move in the
right direction.
Julie,
as long as we keep eachother updated once in a while it should be sufficient
Why do I think CIT bankrupcty might cause a greenshoot monday?
K,
Because big T will be on the program trading
button. They were on it Friday, but foreign
selling won.
Hi Julie,
What is big T? What makes you say foreign selling won?
TIA.
Hank,
Big T is the Treasury. Foreign order flow stopped
GS and Chase (who work for Treasury) from
getting program trading working.
Matt,
I think the time stamp needs to be adjusted for the time change. Here in Arizona we are happy to have the market open one hour later
Julie,
I guessed it might be that group
Thank you!
Hank,
Google…marketdelta.com…click on and tour
the site. Mother has their service.
i’m thinking of CIG a brazilian utility company
K,
Do you ever sleep?
Julie,
How about yourself?
No.
K,
I do. My biggest mistakes come when
I’m tired.
Hank,
You can also google…market profile chart article…
Click on description and examples.
I sleep too but with my eyes Open.
All joking aside.. I do sleep. hehe.
Usually for 6 hours sometimes 5.
Having this as an addiction is reasonable for now. At least I’m not addicted to nicotine (smoking) and other things. but juggling business school stocks and life is hard business.
K,
Agree with you. If you have an addiction, this
one is your best choice.
Take care. Have to start getting ready
for tomorrow.
When 95% of your friends smoke it’s hard to not fold under peer pressure but I have managed and will manage.
I’ll be trying hard not to trade while getting educated. (I just need to do some analysis on my SDS SRS and SMN positions right now and I’m mostly done for the night except for an occasional news link)
I hope you make a lot of money tomorrow!
here we go Team.
http://blogs.fxstreet.com/1stonforex/2009/11/01/the-week-aheadnfp-fomc-cit-and-familiar-chart-patterns/
Look like Asian stocks are getting slaughtered at the start of the day.
I must say. Doing a weekly presentation for my club at school is helping me a lot reevaluate news and be selective. wow we are in deep doo doo.
I will get ready to restock with ammunition if we have a decent rally tomorrow
Futes moving up nicely,dollar falling lets see if we can hold thru the night