Discretionary Trading
Now Reading
Thursday Channel Magic
369

Thursday Channel Magic

by The MoleJuly 9, 2009

11:26am EDT: While the tape decides whether or not to do a New Orleans on us, let’s see where our action points are:

I have to say – my channels are pretty spot on lately – let’s hope my streak continues. Anyway, the bulls will have to push above this thing if they want their fireworks – so far this looks more like a ‘stem the tide’ strategy. The bears have a lot of downside from here – ’tis a steep channel and nothing holding this thing if some big sellers show up. Interesting tape today – for now I’ll remain on the voyeur side of things – just watching and waiting (and playing with myself).

12:25pm EDT: This tape reminds me of a drill set up to slowly go through glass. Steady & slow pressure does the trick 😉

12:45pm EDT: A lot of action in FX today – just went short EUR/USD (I’m crazy – don’t do what I do). Anyway, the triangle in the Dollar so far has not been overcome and might still breach to the downside:

We could be completing wave E here followed by a drop towards 77 or 76.

1:00pm EDT: This is for Lester 😉

1:20pm EDT: And here it goes – no surprise there:

Goldman Sachs Trading Revenue May Beat 2007 Record, Moszkowski Note Says

BTW, if you got whipsawed to hell in the past quarter and lost a lot of money – I have an inkling who’s spending your coin on coke and hookers right now…


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.
  • http://esecfutures.com Vladz

    Keep an eye on ES 874.75 – 50% retracement from yesterdays low, and opening range 880.5 – 882.. bouncing around those nicely.

    Will have painted inverse H&S if it gets back to 884 with target of 903 (one of the bears if i recall correctly)

  • ennuigo

    I dare this tape to defy me!

  • Offtimer

    Waiting for bond auction results. Then should see fireworks.

  • CandleStickEmUpper

    Thistape cant break past the 882 level on the S&P. Its reached it about 4 times today, only to drop back down.

  • thelefteyeguy

    do you know when that's out?

  • BigHouse(Aka Mr Vix)

    Look for the action to start at 1pm est on the bond auction…

  • http://www.aggressivelyuninformed.com nepharis

    Yep.. I'm short and staying short, stop just above the high from this morning. I think we could see a huge drop later in the day if the buyers give up.

  • wex

    We get the 30yr Treas. auction soon my guess is people are waiting to see if the success of the 10yr yesterday continues today. I think after that news the fireworks begin

  • http://esecfutures.com Vladz

    H&S screenshot:
    http://twitpic.com/9sgnd

  • wex

    I guess I should have read the comments before adding my 2 cents. Wouldn't have been so repetitive

  • thelefteyeguy

    any forecast/predictions/consensus how it will go?

  • Autopsias

    Don't know about you guys, but I really, really don't trust this tape… Not even the systems anymore, I just got out B/E and gonna sit on my hands…

    This market seems like those crazy aliens in the Galileu moon, even worst than humans…

    I'm changing my name to whipsaw alien… I manage to lose all trending days and trade on the whipsaw ones…

    Ohh dear…

  • http://www.ambgtrading.com/ amgrant

    Prediction: Small change on McClellan oscillator over next 1-2 days (suggesting big move), then ramp up to ES 900

  • Keirsten

    Could have a cup and handle building on RIMM. Watching…

  • 1981er

    Closed AIG AUG puts for 425% profit… I may be leaving a good amount of $ on the table as this thing should really be trading back at $1, so I will buy a few cheap OTM AUG puts.

    May enter a small position in LDK for a swing trade.

    TNX looks to be up a bit.. Will be interesting to see results of the 30yr auction. My gut guesses it will be fairly good but not a home run.. Might just SOH until then.

    Not much of a dollar correlation today? The $ is down a good amount yet no real pop in equities.

  • molecool

    It doesn't matter – news only try to explain what already happened. The tape is the tape – anything else is just noise.

  • fiki

    Pretty flat but larger traders are buying the dip on ES…

    Long ES@875 target @884

    http://screencast.com/t/CaSrXKcV8UI

  • http://trading-to-win.com/ DavidDT

    /es new hod coming, then I expect selling 12:30-1PM

  • http://trading-to-win.com/ DavidDT

    wait for 30 year action

  • LostIllini

    So far so good today. Was very happy the gap got closed this morning, I was able to get into my BAC Calls fairly cheaply. I'm not crazy about the chart but it was the #1 stock being bought on weakness yesterday so I figured it had some upside potential……

  • ennuigo

    are we breaking out?

  • thelefteyeguy

    been trading a short while…the chicken and egg debate seems to be an on going debate (ie. EW vs. News)

  • thelefteyeguy

    looks like 886 has been a great ceiling today so far…but 880 floor has been too

    :>

  • annamall

    whoa that's awesome sweetie!

  • http://www.mylifemytrade.com MyLifeMyTrade

    Whenever everyone leans to one side, it pays to lean to the other side.. Too many talks of gloom and doom yesterday.

  • Fujisan

    EUR/USD breaking to the upside so equities will follow.

  • Keirsten

    Long GS on three white soldiers 60 min. Feet don't fail me now

  • lester

    I have taken a 15% long position (SPY July 88 Calls). will not hold overnight

  • LostIllini

    I just couldn't go long on them….I break out into a rash

  • fa_q

    Funny how that works, isn't it? Every trader should have a big red Ghostbusters circle with a line through it taped to their computer and it should read: Straight Up, Straight Down. As I posted last night, I expect a lot of chop with a slight upward bias over the next week – with lots of headfakes south.

  • Keirsten

    I do it all the time. It's evil. LOL Take it from the MMs, then short them to hades.

  • Iguanadon

    88.66 on the SPY has been support and then resistence for about 4 days if you look at a 10 minute chart.

  • Osso

    eur/yen on fire today

  • molecool

    Must… not …. make …. joke …. arrrrrgghhhh!!!

  • molecool

    FX has been wild in the past two days.

  • Keirsten

    He doesn't want to go blind 😛

  • lester

    yeah this trade is a joke … NOT

  • annamall

    Keirsten sistah, what's your target on those smucks? hehehe

  • 1981er

    Ag stocks pretty strong today… Any more thoughts on POT? Do you ever trade MOS? I like it better than POT personally.

  • Rd99Hse1

    $DIA volume degrading at the end of a symmetrical triangle.
    Not convinced either way. But hoping, and preparing for up.

  • springheel_jack

    Either the drop in USD has to stop soon or this market must rise. GBP/USD up 2% and rising, EUR/USD rising strongly. Even though the 886 barrier looks solid so far, something has to give here.

    Interestingly, even though USD is dropping fast, oilis flat today. I'm thinking that oil and other 'recovery' commodities have made a firm top and may trend down from here on weak supply & demand fundamentals regardless of equity or currency action.

    Given that the commodities recovery has been such a big factor in the rally, that looks very bearish regardlss of what happens today.

  • thelefteyeguy

    agree

  • lester

    I will add another 5% if $SPX goes through 886.5, am I crazy?

  • Offtimer

    I think a white bear will showup and cause all the other bears to cover their shorts.

  • Count_de_Monee

    http://www.forbes.com/2009/07/08/jobs-report-mo

    Roubini – Brown Manure, not Green Shoots

  • LostIllini

    +1 for using a Borat joke….

  • Keirsten

    Profit. Nothing more. When I hit a level I'll grab it and run. LOL 144.86 is first resistance, but it crept back over the 20 EMA and the broken channel line.

  • anotherone

    Lester, the overall trend is down. The big money is to be made down. Trying to eek out a relatively small amount of money to the upside given the much greater risk is, IMHO, not worth it. The risk/reward to the downside is much, much better. Going against the trend is not the way to make money.

  • Keirsten

    If I trade MOS, I buy it straight up. I always say, MOS bought my Benz. LOL I figured they'd do well today. I'm only willing to daytrade POT right here as it's stuck in a bouncy bounce mode channel on the daily.

  • Fujisan

    You are becoming a good trader. That's called pyramiding.

  • LostIllini

    Thanks Fuji!

  • annamall

    I hope you do well Lester, you are doing better! :)

  • springheel_jack

    GBP/USD looking pretty interesting too. 163.4 now up 4 cents from the low yesterday.

    I don't see it reaching 1.65 and if the SPX drops below 850 then I can absolutely see 1.55.

  • molecool

    LOVE your new pic :-)

  • annamall

    Well my feeling is we are going down, if you can be disciplined enough to scalp then it's ok, but I am just short and relaxing today, then hitting the gym.

    I call for a RED EOD for sure :)

  • annamall

    thanks :)

  • http://trading-to-win.com/ DavidDT

    on a lot of stocks – if u look at RSI daily – during pullback there was no 40 level crossover, so in my books no matter how much I want to be short – short is not confirmed, but rather this is a good re-entry on pullback….watching here

  • 1981er

    +1

  • lester

    I missed the Borat reference. Only saw it once…

  • molecool

    Don't you know – Borat was so 2006!

    It's Bruno time!

  • BigHouse(Aka Mr Vix)

    Get ready for the market to pump up at 1pm. I would not want to be short.IMO

  • http://trading-to-win.com/ DavidDT

    STOP IT!!!!
    You are inerfering with my trading – I keep looking at your avatars!!!!

  • lester

    Well I am just trying to scalp a little. I am saving cash for EOD fade to play (or EOD rally like yesterday). I think we will be going down soon, but not ready to hold puts overnite yet…

  • http://alphahorn.blogspot.com/ alphahorn
  • http://trading-to-win.com/ DavidDT

    Jesse Livermore said:
    “It is not thinking that makes you money, it is sitting”
    A lot of people misinterpret it as “open the trade and sit in it for as long as it works”
    But in fact Jesse meant – “sit and WAIT FOR THE TRADE”
    sitting here…

  • Keirsten

    Long RIMM for a quickie

  • http://www.mylifemytrade.com MyLifeMyTrade

    I see ES 890 –> 896 (today EOD) –> 884 (sometime tomorrow) –> 910 (early next week) –> no clue

  • annamall

    :) its not that bad!

  • annamall

    :)

  • Fujisan

    Nice!

  • ennuigo

    oops

  • fiki

    didn´t like the way this was going and got of @881,5…

    http://screencast.com/t/igBbbHeUWif

  • Fujisan

    You are so timely…..

  • Keirsten

    Mole- they're talking Stimulus II on CNBC right now.

  • annamall

    I hate quickies! LMOL

  • Keirsten

    I just keep ringing the cash register. And I already told you…. it depends on the donor. LOLOL

  • newbear

    + 100

  • http://www.mylifemytrade.com MyLifeMyTrade

    Got out of GS Jul calls that I got yesterday…

  • annamall

    heheehe you are good sistah!

  • Lordted

    He should have said sleeping makes you money… zzzzz

  • Lordted

    He should have said sleeping makes you money… zzzzz

  • anotherone

    That's it. With that new avatar, I'm done watching the tape for the day. Whatever orders I have working will just have to take care of themselves. Likewise any positions I might or might not have open.

    (incoherent muttering)

  • molecool

    Again – news is past history – the inside folks know what will happen already. All they are doing is to test public response – trying to get them to push through a 2nd helping. Disgusting really….

  • Fujisan

    Mole, I'm still long EUR/USD and this could go higher EOD.

  • Keirsten

    Just wanted to let you know the noise is getting louder. 😉 You and I both know they've already got the paperwork prepped on this krap.

  • BigHouse(Aka Mr Vix)

    You should be on Fast Money on CNBC lol

  • http://www.mylifemytrade.com MyLifeMyTrade

    1.4100 is pretty much guaranteed.. I think it goes higher this time.. we have knocked on that door many times.. time it gets busted.

  • Keirsten

    Thank you GS. You schmucks. I'm out

  • http://www.mylifemytrade.com MyLifeMyTrade

    TBT Jul 50 puts up 25% – bot them right after 1pm ET

  • ScubaSteve

    Nice, still riding my Aug 140 Calls I entered yesterday at 7.40. I drew fib lines off the highs on Tuesday down to lows yesterday, and we just cleared the 78.6 retrace. Looking for at least 145.17 or more… may run on a sell off though.

  • http://www.mylifemytrade.com MyLifeMyTrade

    OIH Jul 95 calls up 80% – getting out here

  • wex

    schmucks

  • http://www.mylifemytrade.com MyLifeMyTrade

    Boy -do I regret hedging my BIDU calls (bot when BIDU was 272.xx) when BIDU took out the morning high.. It has moved up 4 bucks since then.. Oh welll

  • springheel_jack

    Mole, the most interesting part on the zero lite is currently concealed by a menu. Please fix!

  • http://www.mylifemytrade.com MyLifeMyTrade

    Out TBT puts

  • lester

    I think this is all a show by Harry Reid. After all this talk, he can then pull the plug on Stim II and then claim they are showing fiscal restraint. The seeple will buy it sad to say

  • Keirsten

    Watch that resistance at 144.86. I'll reload if it can clear it on a clean break.

  • http://www.mylifemytrade.com MyLifeMyTrade

    IMO a big move to the upside is coming here… as soon as ES 882 is busted convincingly.

  • Keirsten

    Could be Lester- I can't stand that walking corpse.

  • lester

    Damn, while I was watching the Bruno trailer, my SPY Call order got filled and I hurled my lunch, and now the mofo has dropped 2 pts. I hope that MLMT is correct about up.

  • rhae

    mole channel spot on confirmed by SPY 15m morning lines… supposed to have problems at 88.72 (thin zone)… in the cards…

  • dollar

    Hah, AIG stock at 10.78, “It's a Green Shoot!”

  • Trappped

    I'm a little confused. You went short Euro or short the dollar ? Only reason i ask is you pointed out the triangle in the DX chart and predicted we could see 77 at some point. Just wanted to clarify.
    Thanks

  • lester

    He looks like an undertaker.

  • annamall

    that would be nice! :)

  • thelefteyeguy

    i see pain in your future…

  • Keirsten

    Out of RIMM, took profits and waiting.

  • http://trading-to-win.com/ DavidDT

    could not help it – bot some goog jul410 puts at12, still have the rest of the order at 10.60

  • onorio

    EUR/YEN is on fire since monday, up or down always on fire…crazy moves.

    I shorted EUR/GBP yesterday at 0.8640….

  • http://trading-to-win.com/ DavidDT

    shorting AIG is unpatriotic – you are shorting US government!!!

  • wamo

    Looks like topping tails around this 88.70 mark (SPY), which was the third try at that resistance (previous support).

  • http://trading-to-win.com/ DavidDT

    we might just chop few days

  • Squidman

    Holy Christ! Who's the lucky guy?

  • molecool

    And the lesson we learn is to only go long on pull backs.

  • Blind_Squirrel

    NOW THIS HAS GONE TOO FAR!!!!!!!!

  • molecool

    Well, I'm in the plus right now – this thing looks pretty overextended.

  • katzo7

    Divergence starting to appear on my SPX 500-http://www.bostonwealth.net/2009/07/09/spx-500-showing-divergence-on-5-minute-chart/5 minute chart.

  • http://trading-to-win.com/ DavidDT

    started GS Aug puts

  • annamall

    ahhhh how sweet!

  • annamall

    Smart call David! :)

  • Keirsten

    I need to see it break down out of that intraday TL and I'm with ya.

  • Count_de_Monee

    Anna. Please stop with the pictures.
    You're too attractive. It's distracting me from trading and the Countess is getting jealous 😉

  • annamall

    ok here's my update on SHLD (also known as SHIT) hehehe bought JULY 60/55 put spread for 1.05 on Monday now is worth today 2.42 not bad

    I still think it goes lower by OPX

  • Fujisan

    Smart move. This could pull back to 1.40 level and I'm planning to add on my longs.

  • annamall

    you are so sweet, I know I work out so hard to keep in shape. it's a job in itself.

    Traders have to sit so much that I crave it when I can move! hehehe

  • annamall

    mooooooooooooo!

  • http://trading-to-win.com/ DavidDT

    just stating positions
    GS, POT, GOOG puts 1/4 of regular for now (not sure why I bot POT puts, but what the hell – bored, need to do something in order not to put on real big trade for no reason)

  • Squidman

    Okay. I'll be back at 2:15 for the ride and to reload.

  • Keirsten

    I think we might be stuck in this mode for awhile longer. It's a lot more work, but I'm bored too. LOL

  • BigIslandLife

    Mole you are too much and LUCKY lester gets his own dedication LOL

  • springheel_jack

    We may not live that long of course. This is reaaaaaaaly boring.

    When are the GS computers back from lunch?

  • http://trading-to-win.com/ DavidDT

    there was not even attempt to touch /es 886 (my water DeMark :)
    I am staying short under it

  • http://trading-to-win.com/ DavidDT

    no wonder why you don't see me on avatar :)

  • BigIslandLife

    Anna you really need to use a larger picture these old eyes have a hard time seeing all the hard work you put into yourself, all in favor of bigger pics chime in LOL

  • Blind_Squirrel

    If you are going to keep posting these hot avatars, at least
    post a jpeg, so we can view them properly and not go blind
    staring at the small square!!!!!!

  • lester

    I have often seen these divergences on the 5 min resolve to the upside…

  • lester

    I really did not deserve the special attention …

  • BigIslandLife

    yes you did for the good trade yesterday congrats

  • annamall

    heheh I should start my own blog huh? 😉 J/K

  • BigIslandLife

    BLOG?// you could do a website girl N/K

  • http://alphahorn.blogspot.com/ alphahorn

    SPX might pull back for b, or this ascending triangle might just pop

    http://www.screencast.com/users/alphahorn/folde

  • lester

    so you still see move up today. SPY range getting tight

  • annamall

    hehehe :)

  • annamall

    sure you did Lester, your a hoot! :)

  • annamall

    don't say it! shhhhhhhhhhh LOL

  • lester

    popping now? or fake? I got fooled by a fake at 1:10 EST

  • http://www.mylifemytrade.com MyLifeMyTrade

    This might be a break to the upside OR may be a headfake – LOL

  • standard_and_poor

    I do hereby declare this top in the name of publicity shy Katzo.
    886.55 shall hold at least for the next minute in the name of your favorite 007.
    http://www.youtube.com/watch?v=aSIjOPFzs7U

  • http://alphahorn.blogspot.com/ alphahorn

    Lester load a 60 min SPX chart with RSI 14 and watch what happens when it breaks thru 50 here shortly

  • http://alphahorn.blogspot.com/ alphahorn

    at this rate, i'm really waiting for your next two avatars ;>)

  • katzo7

    Lester, you were right about the 5 minute divergence. Divergences are indicators that can take a while to play out.

  • annamall

    There you are, where have you been hiding?

  • BigIslandLife

    Alpha, i show a 70 on rsi on 60 min chart and set 14 on rsi what are you showing now

  • katzo7

    Hey, why didn't someone email me, IM me, Call me, Fed EX me, carrier pigeon me that annamall had changed her avatar? Thanks a lot guys! Oh I see, you were all being selfish. Huummmmpppppfffff.

    Oh, and I have to talk stocks. VIX down 6.26%, trannies up .80%, tbt up 3.55%.

  • http://alphahorn.blogspot.com/ alphahorn
  • annamall

    :) You were perfect on your 887, do you think the 60 minute stochs look overbought?

  • http://alphahorn.blogspot.com/ alphahorn

    49.67 at 1:25 central

  • standard_and_poor

    It held for 62 seconds.
    Congrats

  • thelefteyeguy

    well looks like i eat my words

  • ennuigo

    Looks good. EWI also saying 890-900 will contain this move.

  • bsummertime

    best avatar yet!

  • annamall

    I am glad to say Katzo that I am not MOOO-ISH HEHEHEEH

  • ckeltner

    I hear ya, my browser doesn't update for some reason, so I have to manually refresh it to see new pics. I never know until I see all the comments from others.

  • annamall

    894 ish? Alpha, then your'e shorting more?

  • annamall

    ahhh thanks, it's tame right?

  • BigIslandLife

    ok something wrong here I got 75.xx and on spy i get 69.xx need to check my settings, you are on 14,1 correct

  • Iguanadon

    I am deeply offended by this new avatar you have anna. I hereby demand that you forward all photos of yourself directly to me so that you can not use them as avatars any longer. I will take care of destroying them. Really. You can trust me….

  • Squidman

    I was really looking forward to my diving trip to Kona this Fall, but, now it looks like I'll be diving in Florida instead.

  • annamall

    heheheheh I have heard that before! :)

  • thelefteyeguy

    so this would be a…b down…c should go higher than 894…

  • katzo7

    Ohhh yeah ckeltner, good one. Is that like the check is in the mail? ROTFLMAO

  • http://alphahorn.blogspot.com/ alphahorn

    RSI 14, i only have one number to adjust

  • BigIslandLife

    I can not blame you more hotties in Fla than kona but if you make it home let me know

  • katzo7

    Yeah, from me this morning!!!!!

  • ropey

    hope so i'm collecting nice theta here :) Next week it really kicks in but i'll be out before GOOG and co report.

  • http://www.mylifemytrade.com MyLifeMyTrade

    I dont like the ES action here – what looked like a break out now seems like a fake out.. we might be rolling over here.

  • ropey

    still waiting on TOS Canada for futures, got bored and paper traded it this am, made more in 1 hour than i did all last week…insane ( obviously i could lose just as much so will keep practising until they're available ) – i dig the $3 commission :)

  • bsummertime

    you bet! :)

  • thelefteyeguy

    head fake?

  • http://alphahorn.blogspot.com/ alphahorn

    a simple retest of the broken triangle, then on up to 895ish

  • http://alphahorn.blogspot.com/ alphahorn

    yes, i'll exit all longs and start adding to shorts, especially FCX

  • BigIslandLife

    Hmmm just tried changing settings I have day and signal 14,1 even if i go out to 21 day or less 10 day and move signal to 0 or 2 I stay above 60, running quotetracker until I get use to TOS platform will have to try it in there and see if I get your reading thanks

  • lester

    I am long but I do not think it will be today….

  • annamall

    hehehehe :)

  • annamall

    Nice thank you! :) What is your trade on FCX, I have always had quite some luck on this one.

  • http://www.mylifemytrade.com MyLifeMyTrade

    AAPL is still in red – bothers me.. May be they made a much bigger move out of the bottom compared to the rest yesterday.. Anyone why AAPL is still in red.

  • Squidman

    I will. However, I'm only interested in one hottie at the Mall in
    Florida (hehehe).

  • annamall

    I was just telling Katzo that this bounce was a head fake to shake out all stops ( the nasty MM”s) on the short side, then EOD will drop like a rock ( a big one)

  • molecool

    Not a bad idea actually – maybe you have potential to be a politician 😉

  • Keirsten

    heh heh heh. And yeah- I'm not playing earnings this season at all. Burned me once last time, and I learn quick. :-)

  • katzo7

    I agree with you, miss non-moo person.

  • http://alphahorn.blogspot.com/ alphahorn

    H&S below 45, target of 30

  • http://dreadwinaard.livejournal.com dreadwin

    I have been watching GOOG and AAPL closely the last two days. GOOG seems to be bumping it's head on 414, barely setting a higher high of the day, even as the SPX goes higher. AAPL made a huge move off of its low of the day yesterday, and caught up to GOOG (percentage-wise) towards close, even though GOOG started the day with a big advantage.

  • lester

    I have closed half my long SPY

  • annamall

    heheheeh!

  • annamall

    IMHO a good move keep an eye on the other half don't give up your profit.

  • annamall

    nice just got that!!! hehehhe!

  • lester

    I learned my lesson yesterday (gave up most of my Put profits on the EOD rally). I kept considering locking in part of my gain but never did and ended up giving most back…

  • annamall

    thanks!

  • CandleStickEmUpper

    nice pic. youre distracting me from this boring tape. which is a good thing.

  • annamall

    good move! you took 1/2 off locked in that profit. :)

  • annamall

    hehehe it is sooooooooooo zzzzzzzzzzzzzzzzzzz!

  • Osso

    that is….a provoking avatar..to say the least. Distance and blog features are really saving you from a massacre….

  • PRSGuitars

    We all deserve appreciation for what we try to do for ourselves (self-improvement) and our families. Just focus on a trade at a time, making good trades . . . it matters less where we are than where we're going. It matters much more to be able to make good trades with WHATEVER amount of capital, because then your value immensely improves in the grand scheme of things — you will be a positive 'producer' rather than worrying about your nominal 'amount'. It will all work out in the end.

  • springheel_jack

    I've got the same as alphahorn on stockcharts.

  • onorio

    Looking for 882 before the PPT fireworks

  • Keirsten

    Amazing lack of volume for this time of the day. Block trades have basically come to a crawl in both directions. The sickest thing would be for the specialists to just leave it right here with no resolution.

  • katzo7

    Look out below@#$.

  • dollar

    Wathing the 15 minute MACD's here

    Slowly they turned, step by step…

    http://www.youtube.com/watch?v=9pQii1L8fGk
    (skip to 3:35 for the denouement)

  • annamall

    so is yours always meant to tell you, feel like your'e peeping in my window! heheheh

  • http://trading-to-win.com/ DavidDT

    hourly sell on /es possible completion into the close today.
    the problem I still see with short on TD_REI – it stayed above 60 way longer than I like, unless proven otherwise any selloff is just a pullback.
    RSI has NOT confirmed bullish action today – so it is a waiting game for now.
    I sound like an old timer now, I don't say “yes” and don't say “no”, just “may be?”
    oy vey :(

  • annamall

    Another Doji possibly?

  • annamall

    Watch out for falling MOOOOO'S

  • GDII

    it is a clear broken down for me.
    shorted at 882.5

  • molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨
    ¨°º¤ø„¸ N E W „ø¤º°¨
    ¸„ø¤º°¨ P O S T “°º¤ø„¸
    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

  • Count_de_Monee

    Rev Shark 30 minutes ago.

    “The market is much different today and if you don't recognize that and adapt, you will lose money. You can't chase momentum because it isn't lasting and the dip-buyers who held the market up so well don't have nearly the same resolve.

    As always we have to watch for last-hour games, but so far the bounce in this market is surprisingly weak. I expected we'd see something better than a couple marginally positive days. The bulls might still gun us a bit into the close but when you look at the action over the last few days, the phrase that comes to mind is “short setup.”

  • http://trading-to-win.com/ DavidDT

    starting FSLR Aug long calls position (intend to hold, not day or swing)

  • Offtimer

    I think a white bear will showup and cause all the other bears to cover their shorts.

  • Count_de_Monee

    http://www.forbes.com/2009/07/08/jobs-report-mo

    Roubini – Brown Manure, not Green Shoots

  • http://trading-to-win.blogspot.com/ DavidDT

    on a lot of stocks – if u look at RSI daily – during pullback there was no 40 level crossover, so in my books no matter how much I want to be short – short is not confirmed, but rather this is a good re-entry on pullback….watching here

  • BigHouse(Aka Mr Vix)

    Get ready for the market to pump up at 1pm. I would not want to be short.IMO

  • http://alphahorn.blogspot.com/ alphahorn
  • http://trading-to-win.blogspot.com/ DavidDT

    Jesse Livermore said:
    “It is not thinking that makes you money, it is sitting”
    A lot of people misinterpret it as “open the trade and sit in it for as long as it works”
    But in fact Jesse meant – “sit and WAIT FOR THE TRADE”
    sitting here…

  • Keirsten

    Long RIMM for a quickie

  • http://www.mylifemytrade.com MyLifeMyTrade

    I see ES 890 –> 896 (today EOD) –> 884 (sometime tomorrow) –> 910 (early next week) –> no clue

  • Fujisan

    Nice!

  • ennuigo

    oops

  • Fujisan

    You are so timely…..

  • Keirsten

    Mole- they're talking Stimulus II on CNBC right now.

  • http://www.hotoptionbabe.com annamall

    I hate quickies! LMOL unless it's fast money!

  • Keirsten

    I just keep ringing the cash register. And I already told you…. it depends on the donor. LOLOL

  • http://www.mylifemytrade.com MyLifeMyTrade

    Got out of GS Jul calls that I got yesterday…

  • http://www.hotoptionbabe.com annamall

    heheehe you are good sistah!

  • Lordted

    He should have said sleeping makes you money… zzzzz

  • http://evilspeculator.com molecool

    Again – news is past history – the inside folks know what will happen already. All they are doing is to test public response – trying to get them to push through a 2nd helping. Disgusting really….

  • Fujisan

    Mole, I'm still long EUR/USD and this could go higher EOD.

  • Keirsten

    Just wanted to let you know the noise is getting louder. 😉 You and I both know they've already got the paperwork prepped on this krap.

  • BigHouse(Aka Mr Vix)

    You should be on Fast Money on CNBC lol

  • http://www.mylifemytrade.com MyLifeMyTrade

    1.4100 is pretty much guaranteed.. I think it goes higher this time.. we have knocked on that door many times.. time it gets busted.

  • Keirsten

    Thank you GS. You schmucks. I'm out

  • http://www.mylifemytrade.com MyLifeMyTrade

    TBT Jul 50 puts up 25% – bot them right after 1pm ET

  • ScubaSteve

    Nice, still riding my Aug 140 Calls I entered yesterday at 7.40. I drew fib lines off the highs on Tuesday down to lows yesterday, and we just cleared the 78.6 retrace. Looking for at least 145.17 or more… may run on a sell off though.

  • http://www.mylifemytrade.com MyLifeMyTrade

    OIH Jul 95 calls up 80% – getting out here

  • http://www.mylifemytrade.com MyLifeMyTrade

    Boy -do I regret hedging my BIDU calls (bot when BIDU was 272.xx) when BIDU took out the morning high.. It has moved up 4 bucks since then.. Oh welll

  • http://channelsandpatterns.blogspot.com/ springheel_jack

    Mole, the most interesting part on the zero lite is currently concealed by a menu. Please fix!

    Fixed while I was writing it appears. Thanks Mole.

  • http://www.mylifemytrade.com MyLifeMyTrade

    Out TBT puts

  • lester

    I think this is all a show by Harry Reid. After all this talk, he can then pull the plug on Stim II and then claim they are showing fiscal restraint. The sheeple will buy it sad to say

  • Keirsten

    Watch that resistance at 144.86. I'll reload if it can clear it on a clean break.

  • http://www.mylifemytrade.com MyLifeMyTrade

    IMO a big move to the upside is coming here… as soon as ES 882 is busted convincingly.

  • Keirsten

    Could be Lester- I can't stand that walking corpse.

  • lester

    Damn, while I was watching the Bruno trailer, my SPY Call order got filled and I hurled my lunch looking at Bruno in the pink suit, and now the mofo has dropped 2 pts. I hope that MLMT is correct about up.

  • rhae

    mole channel spot on confirmed by SPY 15m morning lines… supposed to have problems at 88.72 (thin zone)… in the cards…

  • dollar

    Hah, AIG stock at 10.78, “It's a Green Shoot!”

  • lester

    He looks like an undertaker.

  • http://www.hotoptionbabe.com annamall

    that would be nice! :)

  • thelefteyeguy

    i see pain in your future…

    EDIT…but you are on a roll the last few trades

  • Keirsten

    Out of RIMM, took profits and waiting.

  • http://trading-to-win.blogspot.com/ DavidDT

    could not help it – bot some goog jul410 puts at12, still have the rest of the order at 10.60

  • http://trading-to-win.blogspot.com/ DavidDT

    shorting AIG is unpatriotic – you are shorting US government!!!

  • wamo

    Looks like topping tails around this 88.70 mark (SPY), which was the third try at that resistance (previous support).

  • http://trading-to-win.blogspot.com/ DavidDT

    we might just chop few days

  • Squidman

    Holy Christ! Who's the lucky guy?

  • http://evilspeculator.com molecool

    And the lesson we learn is to only go long on pull backs.

  • http://evilspeculator.com molecool

    Well, I'm in the plus right now – this thing looks pretty overextended. But things are moving fast – maybe I should grab the money and run 😉

    Update: done – back in cash – but I'm not eager to go long right here.

  • katzo7

    Divergence starting to appear on my SPX 500-5 minute chart.
    http://www.bostonwealth.net/2009/07/09/spx-500-

  • http://trading-to-win.blogspot.com/ DavidDT

    started GS Aug puts

  • http://www.hotoptionbabe.com annamall

    ahhhh how sweet!

  • http://www.hotoptionbabe.com annamall

    Smart call David! :) Keep us updated on how you do?

  • Keirsten

    I need to see it break down out of that intraday TL and I'm with ya.

  • Count_de_Monee

    Anna. Please stop with the pictures.
    You're too attractive. It's distracting me from trading and the Countess is getting jealous 😉

  • http://www.hotoptionbabe.com annamall

    ok here's my update on SHLD (also known as SHIT) hehehe bought JULY 60/55 put spread for 1.05 on Monday now is worth today 2.47 not bad

    I still think it goes lower by OPX

  • Fujisan

    Smart move. This could pull back to 1.40 level and I'm planning to add on my longs.

  • http://www.hotoptionbabe.com annamall

    you are so sweet, I know I work out so hard to keep in shape. it's a job in itself.

    Traders have to sit so much that I crave it when I can move! hehehe

  • http://www.hotoptionbabe.com annamall

    mooooooooooooo!

  • http://trading-to-win.blogspot.com/ DavidDT

    just stating positions
    GS, POT, GOOG puts 1/4 of regular for now (not sure why I bot POT puts, but what the hell – bored, need to do something in order not to put on real big trade for no reason)

    this entire move up comes on the hills of “good china numbers” – not going to help US even if true numbers

  • Squidman

    Okay. I'll be back at 2:15 for the ride and to reload.

  • Keirsten

    I think we might be stuck in this mode for awhile longer. It's a lot more work, but I'm bored too. LOL

  • BigIslandLife

    Mole you are too much and LUCKY lester gets his own dedication LOL

  • http://channelsandpatterns.blogspot.com/ springheel_jack

    We may not live that long of course. This is reaaaaaaally boring.

    When are the GS computers back from lunch?

  • http://trading-to-win.blogspot.com/ DavidDT

    there was not even attempt to touch /es 886 (my water DeMark :)
    I am staying short under it

  • http://trading-to-win.blogspot.com/ DavidDT

    no wonder why you don't see me on avatar :)

  • BigIslandLife

    Anna you really need to use a larger picture these old eyes have a hard time seeing all the hard work you put into yourself, all in favor of bigger pics chime in LOL

  • Blind_Squirrel

    If you are going to keep posting these hot avatars, at least
    post a jpeg, so we can view them properly and not go blind
    staring at the small square!!!!!!

  • lester

    I have often seen these divergences on the 5 min resolve to the upside…declining but positive MACD with semi flat market that is

  • lester

    I really did not deserve the special attention …

  • BigIslandLife

    yes you did for the good trade yesterday congrats

  • http://www.hotoptionbabe.com annamall

    heheh I should start my own blog huh? 😉 J/K

  • BigIslandLife

    BLOG?// you could do a website girl N/K

  • http://alphahorn.blogspot.com/ alphahorn

    SPX might pull back for b, or this ascending triangle might just pop

    http://www.screencast.com/users/alphahorn/folde

  • lester

    so you still see move up today. SPY range getting tight

  • http://www.hotoptionbabe.com annamall

    hehehe :)

  • http://www.hotoptionbabe.com annamall

    sure you did Lester, your a hoot! :)

  • http://www.hotoptionbabe.com annamall

    don't say it! shhhhhhhhhhh LOL

  • lester

    popping now? or fake? I got fooled by a fake at 1:10 EST

  • http://www.mylifemytrade.com MyLifeMyTrade

    This might be a break to the upside OR may be a headfake – LOL

  • standard_and_poor

    I do hereby declare this top in the name of publicity shy Katzo.
    886.55 shall hold at least for the next minute in the name of your favorite 007.
    http://www.youtube.com/watch?v=aSIjOPFzs7U

  • http://alphahorn.blogspot.com/ alphahorn

    Lester load a 60 min SPX chart with RSI 14 and watch what happens when it breaks thru 50 here shortly

  • http://alphahorn.blogspot.com/ alphahorn

    at this rate, i'm really waiting for your next two avatars ;>)

  • katzo7

    Lester, you were right about the 5 minute divergence. Divergences are indicators that can take a while to play out.

  • http://www.hotoptionbabe.com annamall

    There you are, where have you been hiding? BTW is that avatar is what I think???

  • BigIslandLife

    Alpha, i show a 70 on rsi on 60 min chart and set 14 on rsi what are you showing now

  • katzo7

    Hey, why didn't someone email me, IM me, Call me, Fed EX me, carrier pigeon me that annamall had changed her avatar? Thanks a lot guys! Oh I see, you were all being selfish. Huummmmpppppfffff.

    Oh, and I have to talk stocks. VIX down 6.26%, trannies up .80%, tbt up 3.55%.

  • http://alphahorn.blogspot.com/ alphahorn
  • http://www.hotoptionbabe.com annamall

    :) You were perfect on your 887, do you think the 60 minute stochs look overbought?

  • http://alphahorn.blogspot.com/ alphahorn

    49.67 at 1:25 central

  • standard_and_poor

    It held for 62 seconds.
    Congrats

  • thelefteyeguy

    well looks like i eat my words

  • ennuigo

    Looks good. EWI also saying 890-900 will contain this move.

  • bsummertime

    best avatar yet!

  • http://www.hotoptionbabe.com annamall

    I am glad to say Katzo that I am not MOOO-ISH HEHEHEEH

  • ckeltner

    I hear ya, my browser doesn't update for some reason, so I have to manually refresh it to see new pics. I never know until I see all the comments from others.

  • http://www.hotoptionbabe.com annamall

    894 ish? Alpha, then your'e shorting more?

  • http://www.hotoptionbabe.com annamall

    ahhh thanks, it's tame right? :)

  • BigIslandLife

    ok something wrong here I got 75.xx and on spy i get 69.xx need to check my settings, you are on 14,1 correct

  • Iguanadon

    I am deeply offended by this new avatar you have anna. I hereby demand that you forward all photos of yourself directly to me so that you can not use them as avatars any longer. I will take care of destroying them. Really. You can trust me….

  • Squidman

    I was really looking forward to my diving trip to Kona this Fall, but, now it looks like I'll be diving in Florida instead.

  • http://www.hotoptionbabe.com annamall

    heheheheh I have heard that before! :)

  • thelefteyeguy

    so this would be a…b down…c should go higher than 894…

    this melting up sucks

  • katzo7

    Ohhh yeah ckeltner, good one. Is that like the check is in the mail? ROTFLMAO You were no. 1 on my list for not letting me know. LOL

  • http://alphahorn.blogspot.com/ alphahorn

    RSI 14, i only have one number to adjust

  • BigIslandLife

    I can not blame you more hotties in Fla than kona but if you make it home let me know

  • katzo7

    Yeah, from me this morning!!!!!

  • ropey

    hope so i'm collecting nice theta here :) Next week it really kicks in but i'll be out before GOOG and co report.

  • http://www.mylifemytrade.com MyLifeMyTrade

    I dont like the ES action here – what looked like a break out now seems like a fake out.. we might be rolling over here.

  • ropey

    still waiting on TOS Canada for futures, got bored and paper traded it this am, made more in 1 hour than i did all last week…insane ( obviously i could lose just as much so will keep practising until they're available ) – i dig the $3 commission :)

  • bsummertime

    you bet! :)

  • thelefteyeguy

    head fake?

  • http://alphahorn.blogspot.com/ alphahorn

    a simple retest of the broken triangle, then on up to 895ish

  • http://alphahorn.blogspot.com/ alphahorn

    yes, i'll exit all longs and start adding to shorts, especially FCX

  • BigIslandLife

    Hmmm just tried changing settings I have day and signal 14,1 even if i go out to 21 day or less 10 day and move signal to 0 or 2 I stay above 60, running quotetracker until I get use to TOS platform will have to try it in there and see if I get your reading thanks

  • lester

    I am long but I do not think it will be today….

  • http://www.hotoptionbabe.com annamall

    hehehehe :)

  • http://www.hotoptionbabe.com annamall

    Nice thank you! :) What is your trade on FCX, I have always had quite some luck on this one.

  • http://www.mylifemytrade.com MyLifeMyTrade

    AAPL is still in red – bothers me.. May be they made a much bigger move out of the bottom compared to the rest yesterday.. Anyone why AAPL is still in red.

  • Squidman

    I will. However, I'm only interested in one hottie at the Mall in
    Florida (hehehe).

  • http://www.hotoptionbabe.com annamall

    I was just telling Katzo that this bounce was a head fake to shake out all stops ( the nasty MM”s) on the short side, then EOD will drop like a rock ( a big one)

  • http://evilspeculator.com molecool

    Not a bad idea actually – maybe you have potential to be a politician 😉

  • Keirsten

    heh heh heh. And yeah- I'm not playing earnings this season at all. Burned me once last time, and I learn quick. :-)

  • katzo7

    I agree with you, miss non-moo person.

  • http://alphahorn.blogspot.com/ alphahorn

    H&S below 45, target of 30

  • http://dreadwinaard.livejournal.com/profile dreadwin

    I have been watching GOOG and AAPL closely the last two days. GOOG seems to be bumping it's head on 414, barely setting a higher high of the day, even as the SPX goes higher. AAPL made a huge move off of its low of the day yesterday, and caught up to GOOG (percentage-wise) towards close, even though GOOG started the day with a big advantage.

  • lester

    I have closed half my long SPY

  • http://www.hotoptionbabe.com annamall

    heheheeh!

  • http://channelsandpatterns.blogspot.com/ springheel_jack

    Normally on an H&S the neckline would be re-tested I think, which suggests you're right. Wish it would hurry up a bit.

  • lester

    I would rather be better trader …

  • http://www.hotoptionbabe.com annamall

    IMHO a good move keep an eye on the other half don't give up your profit.

  • http://www.hotoptionbabe.com annamall

    nice just got that!!! hehehhe!

  • lester

    I learned my lesson yesterday (gave up most of my Put profits on the EOD rally). I kept considering locking in part of my gain but never did and ended up giving most back…

  • http://www.hotoptionbabe.com annamall

    thanks!

  • CandleStickEmUpper

    nice pic. youre distracting me from this boring tape. which is a good thing.

  • http://www.hotoptionbabe.com annamall

    good move! you took 1/2 off locked in that profit. :)

  • http://www.hotoptionbabe.com annamall

    hehehe it is sooooooooooo zzzzzzzzzzzzzzzzzzz!

  • Osso

    that is….a provoking avatar..to say the least. Distance and blog features are really saving you from a massacre….

  • PRSGuitars

    We all deserve appreciation for what we try to do for ourselves (self-improvement) and our families. Just focus on a trade at a time, making good trades . . . it matters less where we are than where we're going. It matters much more to be able to make good trades with WHATEVER amount of capital, because then your value immensely improves in the grand scheme of things — you will be a positive 'producer' rather than worrying about your nominal 'amount'. It will all work out in the end.

  • http://channelsandpatterns.blogspot.com/ springheel_jack

    I've got the same as alphahorn on stockcharts.

  • Onorio

    Looking for 882 before the PPT fireworks

  • Keirsten

    Amazing lack of volume for this time of the day. Block trades have basically come to a crawl in both directions. The sickest thing would be for the specialists to just leave it right here with no resolution.

  • katzo7

    Look out below@#$.

  • dollar

    Wathing the 15 minute MACD's here

    Slowly they turned, step by step…

    http://www.youtube.com/watch?v=9pQii1L8fGk
    (skip to 3:35 for the denouement)

  • http://www.hotoptionbabe.com annamall

    so is yours always meant to tell you, feel like your'e peeping in my window! heheheh

  • http://trading-to-win.blogspot.com/ DavidDT

    hourly sell on /es possible completion into the close today.
    the problem I still see with short on TD_REI – it stayed above 60 way longer than I like, unless proven otherwise any selloff is just a pullback.
    RSI has NOT confirmed bullish action today – so it is a waiting game for now.
    I sound like an old timer now, I don't say “yes” and don't say “no”, just “may be?”
    oy vey :(

    P.S. If /es closes under 873.5 – my short bets are off for now

  • http://www.hotoptionbabe.com annamall

    Another Doji possibly?

  • http://www.hotoptionbabe.com annamall

    Watch out for falling MOOOOO'S !!!!!!!!!!!!

  • http://readingtowin.blogspot.com/ Boris

    it is a clear broken down for me.
    shorted at 882.5

  • http://evilspeculator.com molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨
    ¨°º¤ø„¸ N E W „ø¤º°¨
    ¸„ø¤º°¨ P O S T “°º¤ø„¸
    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

  • Count_de_Monee

    Rev Shark 30 minutes ago:

    “The market is much different today and if you don't recognize that and adapt, you will lose money. You can't chase momentum because it isn't lasting and the dip-buyers who held the market up so well don't have nearly the same resolve.

    As always we have to watch for last-hour games, but so far the bounce in this market is surprisingly weak. I expected we'd see something better than a couple marginally positive days. The bulls might still gun us a bit into the close but when you look at the action over the last few days, the phrase that comes to mind is “short setup.”

    Amen Rev!

  • http://trading-to-win.blogspot.com/ DavidDT

    starting FSLR Aug long calls position (intend to hold, not day or swing)

  • http://perfectewsetup.blogspot.com/ Repo 105

    Hey fa_q, thanks for you thoughts on trading, very nice.

    Saw where you were headed to the Old Country to play golf. Word of advice if you have never been. Go to the range before you go and practice hitting 4 irons off dirt. The lack of grass over there even at St. Andrews and Carnoustie is a challenge to most. The Caddies call what we play over here fake golf with our irrigation and lush fairways. I got used to hitting 5 iron from 150 and I am a 2, but it was fun as hell. The bunkers are brutal, balls funnel into them and it's a chip out sideways most of the time.

  • http://www.gamingthemarket.com/ gamingthemarket

    I hope I get to repeat my Borat movie experience by sitting next to a totally misinformed family with two pre-teen kids and see how long it takes them to run out of the theater. In Borat the parents actually made it through the naked wrestling. It was the rubber fist that did them in. Man, he F'n kills me! TOMO education w/ Bruno. Does it get any better!