Zero Indicator
Now Reading
Channelz A La Carte
163

Channelz A La Carte

by The MoleMarch 27, 2009

UPDATE 12:31pm EDT: Thought you rats might be able to use this:

Gives us some short term lines to play with – as you know I’m not touching this today. Zero also not too impressed about today’s tape.

UPDATE 12:48pm EDT: Keirsten shared a chart on the VIX this morning. Here’s my own mental masturbation:

Just an idea how it could play out – VIX is tough to count but there’s a good chance we push through the 30 line before this consolidation is over and done.

Public service announcement:

Please be aware that EvilSpeculator will be moved to an even bigger and meaner server this weekend. I planned to do it last weekend but we were waiting for some parts and I didn’t want to do it during the week obviously since the DNS roll over might have cut a few people off for a day or two.

So, what I’ll do on Monday morning is to post the new IP address over on the Slope so that anyone sitting behind a slow DNS will be able to access the new site. Unfortunately the process of moving to a new server is always a bit painful as your ISP’s DNS might only update every few days or so. If you see very little activity (and no new post) on Monday morning then you might also call your own ISP and tell them to get their act together. Again, the new IP will be available over on the Slope – you can either copy/paste that into your browser’s URL field, or call your ISP to refresh the DNS cache.

UPDATE 2:39pm EDT: What do you know – Gold actually closed below that fucking diagonal:

Okay, now I am hoping for a re-test and that’s when I’m in. Of course we all know what’ll happen – huge drop right from here – LOL :-)

UPDATE 3:00pm EDT: One more hour to go – today is one of those days where I’m super happy to be sitting in cash. I’ve had more fun getting a root canal.

Not sure if you guys are watching the treasuries but the 10-year note got dumped like a cheap hooker today (again).

The yield is obviously on the rise – how’s ‘buying the long end of the treasuries’ working out for ya, Mr. Bernanke? If I remember it correctly the 10-year responded the most when he dropped the news and that’s where I think the Fed was planning to be most active. Maybe some of you bond/note traders could chime in here? Karl is foaming over this – as we well know – and he’s right. The Fed will fail over the long term – we could see yields push through 3% sometime this spring.


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at various social media waterholes below.
  • katzo7

    Hey, where is lester today?

  • Vardoger

    I posted this last night but my charts weren’t accessible.

    I’m short May’s from this afternoon and this market may run higher but there is no way I could sleep well at night being long. We are near a fib and basically at the 100 MA . If we continue the ridiculousness I’ll double down at the top of the blue channel which could coincide with the wall of resistance at 870. I’m sleeping in, F this market. Pump it if you want, I’ll be seeing you very soon

    SPX channel/ resistance
    http://dl.getdropbox.com/u/737329/3.27sixmonth.png

    20-day megaphone
    http://dl.getdropbox.com/u/737329/3.27megaphone.png

    I’m seeing so many different EW counts I’m sticking to intuition and my indicators while making sure time is on my side. I’m outta here, great weekend to all

  • annamall

    back to my cats phenabarbitol! ZZZZZZZZZZZZZZZZ thanks for the charts Mole.

  • Count_de_Monee

    Out of my NQ and oils shorts.
    bought some FAZ at 19.10
    Still holding some ES short.

  • az

    Erik, if you're there, could you confirm that the XLF just broke down from the daily uptrend line(from the low of march) this morning? I believe we retest it again, busted through, and just went back down below it. Thanks!

  • molecool

    it's Phenabarbital – and it works great to control seizures in dogs. Fuck looking at this tape I might pop a few…

  • rhae

    SPY 15 m EW, can have a grand time playing with Elliot Waves… but I do not see how they can be confirmed without hindsite… This is a real cheater chart, lol…

    I like Moles chart much better… but everything is open to possibilites

    http://screencast.com/t/4N10JDq84U

  • geckoman

    Continuing my Squeeze and Kierstens GS post from before.

    GS appears to be at multiple resistance levels. I see a big volatility squeeze going on. Wondering how Kiersten is looking to lay this.

    Also I asked Mole if he is familiar with the TTM Squeeze.

  • Mr. L

    Swing traders wet dream. Long for a little…

  • Phys

    If S&P breaks 814 next stop is 807.
    http://screencast.com/t/BAXlKsgw

  • MikeT

    Hes never going long again remember? so we should see him back after primary 2 is done :-)

  • annamall

    excuse my spelling sir :0) It is for my cat who has serious seizures if she doesn't get it. She sleeps really well right after I pop one down her throat (which can be dangerous to my health! )

  • Mr. L

    Market says I poop on your face

  • katzo7

    Jeeez, what is that I see?

  • maya
  • katzo7

    Go short, day trade, ride the wave.

  • Keirsten

    I'm waiting to see GS at S1 before I take the trade. Pivots are rather tight on the intra-day- EMAs are all embedded right here.

  • katzo7

    Hey Mole, How come TKs is bigger than yours?

  • BigHouse(Aka Mr Vix)

    Market waiting for bankers to come out of White House lunch. Expect fireworks in XLF soon.

  • Count_de_Monee

    http://seekingalpha.com/article/128099-what-els

    Interesting article on banks that seems to confirm the other article from the former Chief Economist at the IMF I posted yesterday.

    I highly recommend you read this. Long but worth it.
    http://www.theatlantic.com/doc/print/200905/imf

  • BigHouse(Aka Mr Vix)

    Either XLF powers up or takes a dump. You think down?

  • http://tradingsigns.blogspot.com/ T. Waffle

    Welcome to Updown Yogi. LOL

  • Count_de_Monee

    Yeah I'm going with down. Bought some FAZ earlier today.

    I imagine fundies will want to protect profits into the weekend so we should get a sell off into the close. But it's a crapshoot really.

  • BigHouse(Aka Mr Vix)

    BANKERS COMING OUT OF LUNCH NOW…….

  • de3600

    you gotta love it

  • BigHouse(Aka Mr Vix)

    XLF coming alive now

  • katzo7

    Everyone is very pleased, wonder if the people in tent city are pleased?

  • BigHouse(Aka Mr Vix)

    10/4.

  • Jack

    if VIX plays like the chart, wow, all TA can be thrown to toilet.
    If today closes in red, I will open shorts.

  • krazy4

    Hey…thats one cool site…man I am amazed at ur virtual performance…some great work…r u posting ur trade realtime?

  • BigHouse(Aka Mr Vix)

    Figure CEo's are on Back Berrys sending messages back to home base

  • BigHouse(Aka Mr Vix)

    XLF picking up speed to the downside. Hold on folks.

  • Ed

    wow, did everyone see that ? The finger of God or Devil since its pointing the other way ????

  • Count_de_Monee

    FAZ taking off nicely.

    I guess the banks didn't get what they wanted?

    any news as i'm at work and can't watch bloomberg?

  • thunda72

    Yee-haw! Just picked up some Apr.GS 100 puts. Just in time! :-) Let's start that leg down!!!

  • http://tradingsigns.blogspot.com/ T. Waffle

    most of my trades are real time. few here and there are not accurate but
    still 95% is what i do in real life

  • BigHouse(Aka Mr Vix)

    CNBC Erin is interviwing the CEO now GS MS JPM

  • Squidman

    Hey Mole, I know we don’t deserve it, but maybe you could throw a clue on the zero as to what the directed trading strategy points for Monday-Tuesday. Promise I won’t trade on it (hehehe).

  • Lori

    interesting white line on the zero lt.

  • Count_de_Monee

    I’m with you Katzo.

    i think we go down and see increased selling into the close.

    I’ll likely keep my FAZ and ES short over the weekend.

  • http://theguylife.tumblr.com Woolly Llama

    Mole, why not play a small position in GLD or are you forever done with that?

  • Count_de_Monee

    Thanks BH.

    I imagine they'll paint a rosy picture no matter what. Let's see if the markets believe their lies yet again.

  • http://zstock7.com/ zstock

    Here’s all the shorts working for me today
    ICE,HES,IBM,SKF,FAZ,JPM,QQQQ,NEM,WFMI,EWZ—all overnights—Not too shabby–

  • StainlessSteelChicken

    Chart I posted yesterday playing out nicely so far… http://www.screencast.com/t/TnhKLkjJ

  • thunda72

    I agree… besides, I fell we’ll start getting some bad news next week. I just picked up some GS puts and they’re already performing really well…

  • Vardoger

    bottom of 20 day megaphone is roughly ~807 spx. should be good for a scalp fwiw

  • Phys

    Sorry, it was wrong link.
    Now is correct one http://screencast.com/t/xFPtXJnS3Cs

  • Keirsten

    Dimon says March a tough month- Lewis says signs thing are improving. Who's the bigger liar?

    This is how the banksters can really clear their toxic assets and once again stick it to us. Kind of a primal video, but it's clear and easy.

    http://www.youtube.com/watch?v=n-arbfLTCtI

  • MyLifeMyTrade

    Buying calls on QLD and TNA here

  • Vardoger

    In regards to VIX- I'm not putting too much confidence in the chart considering they are rolling out of the EOQ contracts?

  • Trader Jose

    Mole, arriving to the party a little late …

    Re: In the past few days I didn’t see one comment even referencing my count – instead I see plenty of responses to what everyone else has to offer. So, I have to think – if nobody even wants to discuss my work then I don’t really feel incentivized to put in all those hours to put it all together. Do you rats have any idea how much time I’m spending on this?

    Your work is appreciated, and used to make decision, by many of us rats … as I've said before, focus on the folks that put their money where their mouths are, they are your natural audience. Why worry about the rest? Like chickens, they will always be pecking at something.

    Buena suerte on the conversion this weekend.

    TJ

  • Vendrell

    Sorry, meant to post this earlier. My quant models show a confirmed sell signal at 818. Stop at 822 would be ok.

  • Anonymous

    Is the Z lite picking up this bullshit fakeout?

  • molecool

    Even more interesting now….

  • fiki

    Mr MOLE,
    first I have to say that I find your blog the best of the best (and I know since I spend all my days online) and even though I´m not all that in to EWT I´ve used your roadmaps for some time now.
    I´m very curios about your new evil trading strategy. When will this evil masterplan to rule the world be revealed…? From what I understand it´s not a daytrading strategy?
    (Btw what´s up with all the gerrman hardcore music videos? 😉 )

  • BalaB

    Just want to point out, yet again:

    Strong Zero Signal & RL encountered…… ….Just grabbed 3pt scalp.
    Win% = 90% YTD

    btw, the RL level doesn't have to hold. Rather it just has to be respected (respected can mean simply a bounce off the individual RL level)

  • Tasman

    Mole….I give up….you are……that picture of you and TK in the new bunker is………….

  • Pheesh

    why not opt for TZA puts?

  • Keirsten

    Current look at continuation wedge on SPY – daily chart w/ EMAs

    http://tinyurl.com/co9l75

  • BigHouse(Aka Mr Vix)

    Looks like we didn't really get any big move in XLF. Still in the $9 range grrrrrrrrr

  • rhae

    SPY 15m, I think today could have been much worse, Of course day not over… So far just a gentle slide on the echo line… as far as EW, I see no long 3rd wave, so … so far it looks a b corrective (measued move) but wave not down without a swing

    http://screencast.com/t/qpgHHv6F0xY

  • Derek

    XLF is clearly in an ascending wedge that is getting ready to come to the point some time around Mon / Tuesday. Isn't that perfect timing for the release of the uptick / M2M news?

    If so, I think financials are getting ready to dump based on the news. I would load up on SKF / FAZ when ever XLF gets above 9.50 for the setup…

  • MyLifeMyTrade

    Not a lot of juice left in TZA… I expect the market to trend for next two days, at least till Mar 31st… When the market trends for few days, going long the leveraged is better than shorting the inverse… When there are chances of chop chop, that is when shorting the inverse a safer bet.

    You can argue that I am playing options on a 3x ETF – so already I am leveraged to the hilt.. why the hell am I looking for even more leverage.. somehow I never said that to myself… Now that does get me thinking… I will definitely keep this in mind in future.. Thanks for pointing out.

    Point taken – TZA puts are safer play than TNA calls.

    ________________________________

  • Lori

    And it kissed but didn't break the morning low….hmmm, the plot thickens.

  • innatedc

    That's interesting insight, Derek….makes you wanna say ummm! +1

  • Ed

    I think today gave me an pseudo elegant way to get out of some of my bear positions. Since a lot of the bears are even feeling bullish, I'm going to grab some SPY calls and play the short term bullish scenario for the next few weeks. The only bear position I'm still holding is SRS as I think the other shoe still has to fall in real estate). Still don't like the situation in financials but as mole says – trade what we see and not what we want to see.

    I guess I'm going to be hoping for that bounce that keeps happening for today. . .

  • katzo7

    No, no.

  • Guano

    on the /ES, it looks like all of today's largest volume bars (on the 15min chart) have been on down moves. I am looking at all of the volume bars above 85k contracts, for what its worth (3 of them, at 9:30, at 10:00, and at 1:30).

    I haven't followed this enough to make any kind of determination about whether we go higher or lower into the close, but maybe its of use to someone?

  • reza002
  • BalaB

    snicker….where did you find that video

  • katzo7

    We go down IMO.

  • TomOfTheNorth

    Sounds like capitulation to me…lol

  • Ed

    Got out of my bear postions at 815.5. Slowly starting to build a few long positions. We'll see how it plays. Been doing good except held onto a few short positions a few days (primarily this week) too long. Too many meetings and couldn't watch the tape.

  • Keirsten

    :-) Gotta admit- it's about as KISS as it gets. LOL

  • katzo7

    Pleas put that on hold Ed. Please, please.

  • katzo7

    What a nice set up.
    And
    sell the news, but what news.
    It probably was a failed meeting, news will come out.

  • Douala

    Question?

    Everyone talks about the fund mangers having to window dress their funds by the EOQ. If there is a 3 day clearing time, then wouldn't today be the day they could start to unload since it wouldn't be until April 1st when everything is settled.

  • MikeT

    Thats gutsy…look what happened EOD last Friday and then the open of Monday

  • slartybardfast

    ~813 close on lower trendline…. keep bulls and bears on edge over the weekend.

  • katzo7

    This is not last Friday.

  • BigHouse(Aka Mr Vix)

    Looks like we will close below ErikD’s weekly trendline in XLF. First check mark.Next we need it to close below on a Quarterly level
    http://screencast.com/t/Zpo549Ezgf

  • Vardoger

    Inv H+S on spx 5 min target 827 if valid

  • Ed

    I've only got a few contracts. Nothing major. I certainly don't think we're going green today and will stay in the red. I just hope the bottom is above where I accumulated my positions (namely 816). We'll see how it goes from here.

  • TomOfTheNorth

    Brilliant clip!
    I posted some links yesterday suggesting what the banks are up to in advance of PPIP:
    http://evilspeculator.com/?p=5617#comment-7527904

    So add another component to your clip's musings: the banks are using Fed money to buy toxic assets @ $30 now, then will sell them to PPIP @ $60 and will participate as a PPIP investor @ $5 to make (perhaps) another $25.

    And Ken Lewis is a big, fat liar (at least that's what I've heard).

  • Count_de_Monee

    Have a good weekend everyone.

    As always it’s been a pleasure fighting in combat with you rats.

    Time to take the Countess out to partay like it’s 2006!

  • Squidman

    Someone at SOH just confirmed that FWIW.

  • Ed

    No one is right all the time. You just hope you're right more than wrong.. . .

  • Vardoger

    Hit the downtrend line on 1 day including overnight in /es. sixth touch of trendline. If it breaks which I think it should we'll get a nice bounce to short imo going into the close

  • geckoman

    Couldn't that also be re-drawn as a bearish wedge? I think so.

  • TomOfTheNorth

    Books should be by trade date – not settlement

  • Squidman

    Sorry to keep pestering today, but, do you mean the zero is strongly diverging at the RL approach?

  • Ed

    Hell, when I asked for a bounce, I didn't really mean it like that. Almost makes me want to just take the day trade and call it a day. . .

  • rhae

    Maybe buy the window dressing and sell into G-20 meeting… who knows

  • katzo7

    I fully agree with you

  • Fujisan

    This is for TomOfTheNorth in response to your question.

    Tom,

    I'm wondering if this is the trend line that you were talking about:

    http://content.screencast.com/users/Fuji-san/fo

    There is a very strong resistence right at yesterday's high where the trend line intersects 78.6 fib line. Not only SPY, but any other indexes are hitting against a major resistence at this point, but by looking at today's selloff with such a light volume, this does not look anything but a profit taking. My short-term target for SPY is 79, but it would probably get rejected and come back up to retest yesterday's high.

    Let's see if it breaks to the upside for the retest. I guess we just have to take one day at a time.

    My short position is merely a swing trade and I will close it at 79 and flip back up to long if the price was rejected.

    In the meantime, I increased my low risk delta-neutral positions to earn more time premium.

  • TomOfTheNorth

    If you think of a fund being , in essence, the same as your personal account, if you sell a long security position on 12/31, do you count it as closed in the current tax year or do you consider it open until 1/4?

    Your broker will include the offset on your tax statement for the current year.

    The account only looks @ trade date (although settlement date will impact available cash)

  • Fujisan

    Tom, I responded to your comments above.

  • BalaB

    Not exactly. What I'm saying is that when we have strong zero signals,
    RL are more likely to be effective.

    Even if its a low odd level (ex: 22% Go Short)….When we have a Zero
    signal, more than likely price will a min. bounce off that RL level.
    Its usually good for at least a scalp

  • Count_de_Monee

    There is one caveat, however. I believe the SEC prohibits obvious mark ups on the last day of the quarter.
    In the past no one cared (SEC who?), but maybe, just maybe, this time they're a little afraid.

  • Ed

    Nah, you wouldn't capitulate on a positive day for you. It's been a good day (though a bad week). Strictly playing the short term right now. Long term, I think there is still significant exposure to the down side as too many weak sectors (financials, real estate, etc).

  • katzo7

    This could be the final turning point I was looking for. We will see.

  • TomOfTheNorth

    Perfect! – thanks Fujisan. I suspect we will know in the next few days. If the trend holds, I would be looking for a downdraft to 74 -72. If we punch soundly thru the upside of the channel, I guess I'll have to concede the error of my bearish ways….

  • BigHouse(Aka Mr Vix)

    I should of taken a Cat Tranqulizer at lunch and went to bed.

  • Squidman

    I guess I have been looking at it wrong. Seems counterintuitive that if the zero signal is strong (grande) that the RL level is more likely to deflect. It would be great if zero lite was turning just before the RL is hit, but I guess that is too easy. Is there a zero level at which the odds of busting through the RL is higher?

  • http://evilspeculator.com molecool

    NEW POST!

  • katzo7

    Oh, you are very good at calling a bounce.

  • C.C. Rider

    Somebody wake up Mr. Vix, I wanna go flat for the weekend. Don't trust the boyz.

  • BalaB

    Basically, when we're diving, you wanna look for support.
    Use the Go Long RL Levels in a decline to find these potential areas
    of support.

    If we encounter an RL on the way down and we have a strong go Short
    zero signal, typically that RL will act is short term support at
    minimum, making it a good bounce / scalp trade.

    Cool?..

  • MaxPainMan

    a 4th test of SPX 815 over the last 2 days…
    come on, this thing CAN'T stay propped up like this…

  • Lori

    I don't think it needs to be re-drawn; rather it already is bearish? On a daily chart, the wedge would be a continuation of the larger downward trend, which would be bearish, no? Needs a break below lower trendline for confirmation. Please correct me if I'm wrong.

  • BigHouse(Aka Mr Vix)

    I bet you the market closes red today lol

  • Squidman

    it is cool, and rather devious I might add. Thanks for the clarification. So on the other side, you would not take the trade if the zero signal is weak? It is a way of knowing what days or timeframes RL's are not effective.

  • malusDiaz

    Longer then you can stay solvent =P

  • http://jadedapprentice.com JadedApprentice

    I've been playing the long bond games by steadily buying up $TBT positions on drops (2x short 30yr) and grabbing more TLT for hedging when yields move up (which I've partially sold off on recent spikes only to get new buying opportunities at original prices within days) Over the long run, the Fed's likely to be as effective keeping yields down as they were giving us a soft landing on the housing bubble.

  • geckoman

    no you're right I was wrong.

  • MaxPainMan

    …of course

  • BalaB

    You Got It!
    Otherwise (imo) regular old traders are in control of the tape (as
    opposed to Black Box traders) and thus Fibs are a better method to
    determine support and resistance.

  • malusDiaz

    Not that i don't want this to grind down,

    Wanted to step out, guess that's not happening, holding over the weekend.

    Lookout B wave down! here i come!

  • Guano

    /ES to close below 813? We had another >85k volume bar on the 15m chart at 3:30, red again….total guess here, just wondering if the last volume bar of the day will be >85k and red as well to finish off the day. not very scientific here

  • jcoors

    Two points:

    1. My wedge that I drew for you guys yesterday is very much intact. Updated here: http://content.screencast.com/users/JCoors/fold

    2. The 1938 market recession mirrored onto today's decline is eerily accurate so far: http://api.ning.com/files/LG*2C0YMrtZ-xsoIFgRAR

    Both suggest a decline next week to 750.

  • BalaB

    Have a great wknd all!

    I know I'll be studying the Options Strategies mentioned yesterday (I'm looking forward to NOT having to day trade to make a living)

    Once Again CBOE is a great education source.

  • J-So

    Let's talk taxes. In planning for 2009 taxes does anyone have any strategies or guides they use to minimize exposure?

  • Keirsten

    😉

  • Count_de_Monee

    +1

    Good stuff jcoors.

    Thanks for sharing

  • MaxPainMan

    a close below 810 would be nice

  • Vardoger

    That's definitely the 38' mirrored in the background?

  • katzo7

    Hope I helped some peeps out today. Thanks for the points.
    See ya. Martini time.

  • standard_and_poor

    Closed out short ES basis spx 813.9.

  • roncofooddehydrator

    Well, if you're holding anything long-term at a loss now (that you expect to increase this year), you could sell it and then rebuy it. The loss will help offset any short term gains you have…

  • standard_and_poor

    Have a great weekend everyone!

  • indusequities

    Lets share.. I gave 806 and close near LOD :) You got +1 too..

  • mtst

    Some credit to Erikd' 815 😉

  • Wengue

    Negative divergence in the Zero Lite in that last rip to 823 kept me in my shorts today, apart from the steady signal from Zero Grande. Very pleased because this divergence did not show up on my other indicators for even shorter time frames like the 1 min chart.

    OLE ZERO!!!

  • katzo7

    I didn't see his post?

  • katzo7

    I am more than willing to share with you Indus. BUT you are way above my
    trading ability. +1

  • J-So

    Isn't there that wash rule about rebuying within 30 days nullifuies your ability to use the loss to offset gains? Also something about a minimum of $3k loss per year? I just was wondering if anyone knew of a website or had a list of tax minimization tactics.

  • Count_de_Monee

    Hey, and how about my call last night to buy FAZ because today financials would tank?

    I need some lovin' too, you know 😉

  • Karl's Bro

    Zero Lite today rocked. Kept me on the rights side of the trade too.

  • katzo7

    Yeah, you are the best even though you are filthy rich and live in a castle i Europe. +1

  • slartybardfast

    He's lurking in an old post

  • malusDiaz

    Simple Moving Averages Crossing:

    http://stockcharts.com/h-sc/ui?s=SLV&p=DAILY&b=

    (SLV is my long term 'asset preservation', besides the real stuff.)

  • molecool

    EVEN NEWER POST!

  • indusequities

    Now Monday we've to get a GAP down. Otherwise, bears are in trouble again.. It may be a bigger trouble ..Tough game

  • Count_de_Monee

    Thanks Katzo. When you come to Europe you can stay at my castle.

    LOL, +1 for you too. The love fest continues…

    And Mole is always welcome to stay at the castle.

    i'll even put on this music just for him.
    http://www.youtube.com/watch?v=jQYQTFudrqc

  • roncofooddehydrator

    Yes, sorry, you're right about the wash rule. It only applies to substantially similar securities, which is a vague enough definition. So you can buy a security like Dell, sell it for a loss, then buy HP instead (since you think the sector will move the same). After 30 days if you think Dell will outperm HP you can switch back to Dell.

    The maximum you can remove from your taxable income is 3k. So if you have 10k in net losses for the year, that only takes away 3k of your taxable income.

    The way I see it, don't worry too much about the taxes. If you get taxed, that means you're making money, which is a good thing. The most you can be taxed on your profits is 35% (short term gains are treated as ordinary income) , which is the highest income bracket. Just take any losses at the end of the year if you can to minimize those taxes.

  • Keirsten

    Amazingly smarmy of them, isn't it? The crookery lives on. We knew they'd find a work-around with this.

  • J-So

    If your gains equal your losses for the year and you break even, but cannot write off your losses could you still owe tax even though you really made no income?

  • indusequities

    Never mind.. for some reason I thought monday was month begning .. We are good..

  • roncofooddehydrator

    The only way you wouldn't be able to write off those losses is if they fall under the wash rule… I.e. You sold a security at a loss, then bought the same amount within 30 days and are still holding that security after the end of the year.

    Also, you will be taxed on dividends but only at 15%.

  • Fujisan

    Great chart! Please keep us updated (I also like the OPX line that you threw in! Very helful to come up with my OPX strike price).

  • katzo7

    You dirty rat you as James Cagney would say. S&P hit your target better than mine. +1

    Good work S.fast.

  • katzo7

    Ed, I wanted to follow up with ya, want everyone on this board to do well, and I try to be vocal so the peeps can avoid pain.
    “I guess I'm going to be hoping for that bounce that keeps happening for today. . .” Don't guess or hope the market.

    “Since a lot of the bears are even feeling bullish” use the “charts” only, not conjecture or as Mole le cool says, the news

    And was it you who said to me, there are many views on the market? The only “correct” view is the one that makes money.

    THIS IS WHAT I THINK BASED ON MY CHARTS
    Look at 60 min. with stochs and MACS, that recent pivot top is an EW4 meaning we have to go down to W5 before we can turn up again. EWs work best on longer term charts. Look at what the stochs and MACD have to work through before they make the turn up. Look at the divergence (see kenny's website), it is major. Try for absolute bottom (or top) to form a position.
    While I have been wrong in the past, this is being shown clearly to me and I look at the lower time frame charts as just distracting noise.

    We all should be open to learning, I always am.

  • katzo7

    send me your email
    katzo368 (at) gmail dot you know

  • katzo7

    My best idea is to get your IRA if you have one into a tradable place, I did Fidelity. No wash rules, or filing, it is great.

  • katzo7

    send me your email
    katzo368 (at) gmail dot you know

  • isaiah64v4

    test

  • isaiah64v4

    test11

  • isaiah64v4

    test

  • isaiah64v4

    test

  • isaiah64v4

    edit

  • isaiah64v4

    edit

  • isaiah64v4

    test

  • isaiah64v4

    test