Intraday chat Jan 2 - 6 - Page 8

IDK I think a late rally is brewing here. Volume has been light and remained light on the intraday leg down. SPY has retaken VWAP, breadth is on the way back up, bonds are about to puke their way down through 143, it all looks pretty promising, even for the Russell. Gold and oil look like they want to take out key levels, gold the HOD and crude 103.37 swing high (I think from late Oct?). I doubt damage would be substantial to your 132s, but I do think averaging in is going to happen, knowing your risk tolerance and entry strategy, in fact it might even be best to see if we gap up/move up into tomorrow. It just feels like big money is trying to load as many retail bags as possible before lighting them on fire and leaving them on the front porch.

that ain't nice...
 

 

does this momentum carry over to tomorrow? the rest of the week? or is there going to be a sell off?

 

no one knows for sure, but i think the rally holds for a few days.

potential H&S on the ES 5 min. chart. This being the right shoulder

Whats your problem Gunit00?   Think you may have this forum confused with another. No one here takes the mickey out of a loss (or potential loss if trade exited) we are all here trying our best to help each other. I think your post is very offensive, well it offends me.

 

Well 2012 has been good to me so far...up $4,332 so far today....

 

Sold my LVS rebought it today and sold it.

Sold RIMM then shorted it and ended up losing

Still holding AMZN...

Sold my SLV calls and ended up shorting it at 28.88

 

Not on my laptop or else I would post exact in's and outs...I hope everyone else learned alot from 2011 and makes 2012 a profitable and healthy, happy year.

yeah rando, many times i'ved shorted a gap up, to only get gapped up again the next day. I look at how far we've come and in the last two weeks, it looks overbought to me, so I'm willing to dive in head first.

 

Might get my skull smashed but the probability is on my side. I used to think green/red day tomorrow was a 50/50 chance, but now I look at factors such as news, volume (holiday weekend coming up or not), potential shoes to drop (europe problems and their debt downgrades, Iran), etc.

For a day with very small range they sure are creating a lot of legs up and down. Feels like we are still in the holiday trade. Still thinking long but half as confident about it as 15 min ago - the long commodity play seems to be popular today.

wishful thinking?

 

I'm done for the day, too many mixed messages for me to get involved this late. Solid break of 1273 here should send us below 1270 intraday, if it comes on volume expansion, but so far every real threat of expansion has either failed or quickly fizzled out. A close on the lows here would form an interesting and bearish daily candle for the index charts. Anyone leaning bearish would be able to sing from the rafters about another possible failure to hold the 200 day setting up. ED: thinking a few days further out, it could also set up an island top if we get chop into UE Friday.

So are we back to the pre-August pattern now .... big move in the morning, then little if anything until the EOD move?  

1276 was my target for big bears to come in if I remember correctly, but sure is seeming that way. Almost as if big money is playing days ahead.

One thing I'm not understanding about today's action is the gap up this morning on the ES.  Are these simply "market open" orders and they simply pile in within the first few seconds or are there groups that have access to place trades before the market is even open?

Also not to say the current trend is up, but I see (maybe) shorter term weakness setting in here. I also agree w/ ST that 1320 is looking prime for another shorting opp.

 

             Looks like it could last a little while. GLTA!

Premarket starts at like 8:30, futures the night before. So by the time pre-market starts, people are already bidding much higher in proportion to amount futures are up.

 

The highest bid wins whatever shares are available until they are filled, so the first premarket trade forms the "gap"

 

Does anyone think that a very good performance by Ron Paul tonight will put a scare in the market?

I know the markets can be irrational at times but gimme a break.

Congrats!

I'm also up $4000 today and decided to preserve all trades and exited out of all my longs.

I think I might have exited too early but better safe than sorry.

I wish I had kept my AMZN shares but I sold at $177, I did the same with BAC and sold at $5.88.

The good thing is that I have no more margin which saves me $20/day interest, lol, and am sitting on straight cash.