Stock Market Intraday Chat: Mar 12th - 16th - Page 19  

 stress test data suppose to be Thursday.. but now the Fed is releasing them today.. since JPM just jumped the gun and want to release all the banks..

gee does that stink..

is anyone adding to shorts right now? i want to, thinking about adding small position but i think tomorrow will be a better time.

 

 

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Okay and so now we ARE getting up into that low (of back in the year 2000) :

Up into that Great Spike-Down Low of back then, which looks to have stopped at about 3030 :

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This here is that Great Spike-Down Low of back then :

Of back then in May of 2000 : (looks to have stopped at about 3030-ish)

 

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Which is currently the level that we're at right this instant

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Could that Ancient Level perhaps be Resistance ?

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Sorry for not simply annotating this Level.

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It's just hard for an old dog to learn new tricks......

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Lastly yes (and sorry for all the Charts),

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The S&P's 1400 Level : Wow : She COULD perhaps prove Stiff Resistance :

Currently trading at 1395

If there's 1 thing these mkts like to do ?....It's hit their target levels Promptly !

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The fact that we have been hovering with this 13000 resistance for a while and we have finally broke it has me hesitating going short now.

Not me. I think we could see the 1420's soon. In fact as I said before, I could see it "overshooting" (lol) to the 1500's longer term.

yea i guess i will be looking to go long with tight stops while holding my shorts unless i see signs of weakness.

Yep.  TZA starting to look really good for a quick daytrade if markets gap up tomorrow.

 

SPY now has exceeded by a large margin its May 2011 highs.  Next resistance I'm looking at is SPY 147.00.  Low Vix.  Next resistance 70 S&P pts off with former resistance now support.  Seems like a setup.  Maybe I'm just being paranoid.  I'm all cash right now though.

 

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Hey SJ : Good call yesterday (re: your XLF's $15 Level observations)

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I'm averaged 3 lots short at 89 now /ES.

short term looking for 5-9 points each lot. 

Nice little Illuminati numerical occurence happening today: Dow above 13k and Nas above 3k together for the first time ever, and of course happening on 3-13.

holding on to those UVXYs, almost sold in 24.20s but I do think there was some big money taking advantage of the patented fade the Fed play, looking for a better exit tomorrow or in the next few days, risking the overnight move.

Looks like we were all right about today, new HOY by 14 handles even in the June contract.

I'm watching the 1398 level. Didn't think we'd get back here so fast...

They ran it up past 5X IB before close. Can't remember the last time I saw that, hint: probably never.

Ichi -

 

What are you using as stops since we are at multi year highs in the /ES? Just doing an ATR multiple?

 

I think we are set for a drop but have been hesitant to pull the trigger. I want a few more of the shorts to start to cover first.

 

Good luck,
 

 

Still waiting on the Russell to make new highs.

I usually start out with 1:1 for stops/targets and I use ticks. 
I set my stop at my maximum loss in ticks and tighten, never widen as the trade progresses. 
I don't move it that much though. 

 

Just submitted a request for a loan against my 401k lol. I guess its like hedging my retirement if I use the money to speculate short right? They make me pay it back monthly through my paycheck.

my account blew up today