Here are some good calls from yesterday. I’m sure that there were more, but these are the ones that stuck in my head:
Here’s JungleGirl predicting that the market would make a higher low on Wednesday and then turn back up – which is exactly what the SPX did.
Here’s JungleGirl calling for the market to drop and then bounce Wednesday afternoon.
Here’s Jim giving us the heads-up on FTK, which ramped into the close. That Fly really knows how to pick ‘em, as I mentioned back here. Too bad he doesn’t make calls on the futures.
There’s a 30-year bond auction today at 1pm. I’m going to look for the market to act the same way as Wednesday: curl up into the fetal position with a tight range prior, and then spring out of that range after the results are announced. I don’t care which way it breaks; I’ll just be happy to be along for a portion of the ride.
Inverse fighting 15min 36ma resistance. It may lose.
George,
Mom makes Julie when she’s here and me
listen to tapes every night Monday thru
Friday. We get to play on weekends.
Paula
George,
Thanks for your very kind comment. Still
have a lot to learn.
Paula
paula,
Are those trading tapes?
Paula, how do you read tapes?
This is about as indecisive close as you can get.
I miss volatility.
Great call whipitaround!!!
spy at the 20ema
Tony,
Nice! You totally nailed it!
Matt
George,
It’s true. Back in the day, the SPX would have dropped 60 into the close instead of a measly 6.
Matt
George,
They are tapes made by LBR at a trading
conference. Linda talks about what to look
for based on market action.
If you do not receive it, I suggest you google
…stocks and commodities magazine…try a
one year subscription and attend a trading
conference.
The thing we love most about trading is that
you can learn something new every trading
day. Stay green and you will grow. Get ripe
and you die.
Paula
used tick today to see SPX react. wow great
lovin this information fountain we have here
Thanks Matt!
Here’s me suspecting a false breakout. See how I did that? A legit breakout has a surge of volume. We didn’t get that today, possibly because the market has run out of shorts to squeeze.
narrowminds,
Listen to.
Paula
SPX closed close to a Walter Bressert reversal
signal….may have made it if George had sold
his total holding.
paula,
I’ve bought Stocks and Commodities and Active Trader at the newsstand, but I will get subscriptions. Good idea.
I try to do too much learning on my own and that doesn’t provide fresh ideas and approaches.
Priceless:
“Stay green and you will grow. Get ripe
and you die.”
I agree with all the accolades about the calls on this blog. Such an advantage to have folks give all a heads-up.
Thanks
George,
I think a subscription will save you money. The
thing I like about a trading conference is that
you have a chance to pick the brains of the
great traders.
You are well on your way to becoming a great
trader…just stay green.
Paula
P.S. Your wife will like the trading conference
location.
Yes, thanks to Matt and everyone else here for a really enjoyable and enlightening board.
Marty
Ditto
Whipitaround
Did you base your bloody call on what TICK was doing? I just got TOS today so I have to get up to speed on it and TICK.
String
Admin: Regarding “Here’s me suspecting a false breakout.”: Was it just for today and new story new breakout tomorrow or you think we finally broke out false?
Hi Sudhir,
I don’t know, but the market does feel tired to me. The break-out attempt today was very lackadaisical.
Matt
wow i will certainly try out a new technique I just discovered thanks to paula in a way
will let you know in the next 2 weeks (before i take an extended leave to Albania to see how we are vs America and who would win the cyberwar.. LOL Matt..)
seems promising so far but time will tell
i’m testing it on a 1 min eur/usd trade and await the results (even though things get slow after US market closes)
String, a combination of technicals (long top pin on the candle, inability to break out of the upper part of the triangle, heavy supply in that area and the fact that many of the shorts were stopped out in earlier trading) appeared bearish to me, but when i saw how awful GS and other leaders were trading, i pulled the trigger. Often times, GS and AAPL lead the mkt.
trade over -4 pips (3 was commission)
Following system though so I should theoretucally get in long after i close the short.
i haven’t gotten out yet but on the 2nd trade with the new strategy (jeez i hope i don’t jinz myself) am up $15
i will stop updating on the forex trade but this second time i didn’t become a pig and got out with 12 bucks. so +12-4 = 8 in 2 trades… needs more testing for strategy to be shared with the wonderful mattgic crowd. but basically uses paula’s suggested ema’s for the tick and the macd
have a good one
(heh regret now that i didn’t follow the exit haha it’s climbinnnnnng
)
I have 6 day trades left i might use a few tomorrow testing it out.
K,
I like your enthusiasm. Keep plugging away and you’ll have several strategies to choose from. Combine them and they may be unbeatable.
Stringm,
I got TOS also. Haven’t played with it much. The TD rep. told me they had bought them out. Let me know what you think about it. I may be able to play with it some over the weekend except for the days I’ll be traveling.
If anyone can figure it out, you can – for sure.
yes they are bought out george. (sorry for the paragraphs) got that email from them today
What TD AMERITRADE brings to the table are great account management tools, strong customer service skills, and some features that help fill in the “gaps” of the thinkorswim platforms. The goal of the acquisition is to redefine and set a new standard for the online brokerage industry. That’s what thinkorswim has always been about.
The plan is that you’ll continue to trade on your favorite thinkorswim platform, at your current commission rates, and talk to the same people (some new ones, too) when you need help. All you have to do is find your next trade.
George
Take care traveling. It T’stormed here all day so I didn’t trade. I never lost my satellite internet, but I never know. I hate to be in a trade and have to make a phone call to get out of it. The TOS seems to have a lot of info SD does not. It is different though. Matt pushed me into it. Trade Station might be better, but I’m not going to put in the effort to learn 3 platforms. Don’t know now, but I might run TOS on my lap top to just show internals, and keep SD for charting and trading.
String
in the next few days i might start suffering from facebook withdrawal but i’m sure i can count on this board to get me out.
already tempted 6 times today to go on it. (sorry for the folks that don’t use it but i was one of the first facebook users and now the thing really has took a turn for the worst site ever.
ill be able to read more books and have more fun now. can’t wait!!
Mattgic addiction anytime over facebook crap
Stringm,
I’m not sure if you have tried something like this, in fact, you are probably way ahead of the game. This would be useful for testing automated trading. Something I did when I was searching for my “trading style” was to trade each and every setup in a live account.
I would only buy a few shares, maybe $1-2 thousand worth, depending upon the price of the stock. I knew I was most likely going to lose money but my reasoning was that this was training and education, and worth the cost. These mini-trades really helped me out and even though many were successful, the broker commisions still gave me a small loss.
Paper trading is great and I still do it today, as well as the mini-trades, to test new ideas. But it isn’t the same as having the coins on the line. I would most certainly do this if I was trading automated to test it out. For me, the difference was thinking about the profit or loss which took my mind off of my plan and successful trading. Using this “live but let live” technique allows me to focus on the trades instead of P/L.
It’s also fun trading the smaller amount. I have one account that I started with $500 a couple of years ago. I swing some weeklys and this this has balooned nicely. I just plunk it in on a weekly sto and MACD, check it once a week and let it ride. When the weekly turns over, I get out and do it again.