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

post #361 of 1043

 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..

post #362 of 1043

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

post #363 of 1043


 

Quote:
Originally Posted by FROZENOJFUTURES View Post

Is there even resistance now that we're about to vault past the 08 highs?



 

.

 

.

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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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2012&rand=1591739874&compidx=aaaaa%3a0&ma=0&maval=9&lf=1&lf2=0&lf3=0&height=335&width=579&mocktick=1

 

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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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2000&rand=285451295&compidx=aaaaa%3a0&ma=0&maval=9&lf=1&lf2=0&lf3=0&height=335&width=579&mocktick=1

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

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big.chart?nosettings=1&symb=nasdaq&uf=0&type=2&size=2&sid=3291&style=320&freq=9&time=18&rand=1004088083&compidx=aaaaa%3a0&ma=0&maval=9&lf=1&lf2=0&lf3=0&height=335&width=579&mocktick=1

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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......

.

.

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 !

.

big.chart?nosettings=1&symb=spx&uf=0&type=2&size=2&sid=3377&style=320&freq=1&time=20&rand=491420401&compidx=aaaaa%3a0&ma=0&maval=9&lf=1&lf2=0&lf3=0&height=335&width=579&mocktick=1

post #364 of 1043

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.

post #365 of 1043
Quote:
Originally Posted by RetireYoung View Post

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



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. booyah.gif

post #366 of 1043

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

post #367 of 1043
Thread Starter 
Quote:
Originally Posted by RetireYoung View Post

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.



Exactly, shorts capitulating is an important step.

 

Who the hell wants to stand in front of this freight train?

 

Rather wait for a reversal day.

post #368 of 1043
Quote:
Originally Posted by StockJock-e View Post



True dat

 

Im itching to add some TZA... but I will let this run a bit more.

 

IWM


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.

 

post #369 of 1043

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

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XLF

post #370 of 1043

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

short term looking for 5-9 points each lot. 

post #371 of 1043

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.

post #372 of 1043
Thread Starter 
Quote:
Originally Posted by nowwhat View Post

.

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

.


 

It was a tight range, had to break one way or the other.. All it took was JPM to jam it!

 

Just a suggestion for you nowwhat, you do not need to post updating charts for short term time frames. Rather place a static chart that does not change.

 

post #373 of 1043
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.
post #374 of 1043

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

post #375 of 1043
They ran it up past 5X IB before close. Can't remember the last time I saw that, hint: probably never.
post #376 of 1043

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,
 

Quote:
Originally Posted by IchibomB View Post

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

short term looking for 5-9 points each lot. 



 

post #377 of 1043

Still waiting on the Russell to make new highs.

post #378 of 1043
Originally Posted by NYC-Trader View Post

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,


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. 

 

post #379 of 1043

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.

post #380 of 1043

my account blew up today

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