Stock Market Today : May 14th - 18th - Page 47

 

posted this EOD yesterday...it didn't work out. 

I was averaged 07 long from that drop yesterday. 

woke up in the middle of the night and saw price at 07.

got out avg 06.75 phewwww close call 

Those .00 LOD prints working perfectly today, SPY took out the 130.00 premarket low. I realize some feel it is pointless, but if you use it properly, it can really help to get you into good positions, and have patience with existing ones, so long as your risk on the other end is defined intelligently. Of course I say this having fumbled one of the bigger openings I correctly identified earlier today, but whatever... it can work. Trade with the direction of those prints when the market is moving the same way, and you can get prices far enough from those prints to yield a good profit during the same session, and it has a very, very good success rate.

 

In regards to the media stuff, I'm simply giving advice.  The trading world is far less complicated when you tune out all the media noise.  It's designed to disorient and distract you.   Just my two cents.  

All eyes should be on FB 40 right now, they have been defending that to the death for a few hours. If that fails, we should in theory see a nice big flush triggered, most likely across the broad market. Hopefully the world is not that dependent on Doucherberg, but I think it is.

Anyone using TC2000? The pivot point feature doesnt seem to adjust the support and resistance bars each day. Anyone having this problem where the support and resistance levels stay the same next day and do not adjust accordingly?

hmm wow, the monthly chart looks like a big FU pattern to the longs.

 

I wonder how Europe is going to play out this time, could they actually let the whole Union fall apart?

 

If we a presidential nominee came out like Hollande in the U.S., I bet he'd win too.

 

How many heavily indebted nations are really going to pay their debts back? Austerity doesn't work, and stimulus doesn't seem to work any better. 

FB float traded in its entirety... now time to ditch it on the suckers?

come on.... just flush to 128 spy and get it over with so we can bounce, then short again lol

Are we still extremely oversold short term? Yes!

But until sellers decide to take a break, and buyers step in, down we go.

SPX got that 1295, now have to see what happens next!

 

Why are all eyes on FB? Is it really that big of a deal? You think it's going to effect the whole market? 

It should have affected the Nasd with all the fresh $$$ flowing into this stock but that didnt happen.

Failbook FTL

I'm hoping it won't, fearing it will. But really, every pundit out there hyped up the FB effect to no end, ever since their filing was official and the May IPO month was known... what's that, four months of drum beating? Curious how the market rally failed right at the pivot, and right as the FB open delay was made worse and announced... very curious, eh?

Good lord, FB bad tick down to 38.00... is that another message?? This time I doubt it, given all the loose ends to tie up in the order flows.

Musical chairs on facebook at the close? I wonder how many people will take instant 5% profit. It would be funny if on Monday the underwriters wake up to Facebook gapped down to $35 and they call eachother up, weren't you supposed to hold it up? No, I thought you were going to?

I think today is shot. I feel somewhat decent about next week. I think tons of people with money on the sidelines are going to gradually pick some stocks to put it in. Would have been way better to have them all do it together on one day, lifting us up instead of dragging it out for weeks. But people have to put their money somewhere, and stocks look cheap. Stories are starting to change from "Sell in May" to talking about value stocks and the oversold market. 

currency mayhem... did Merkel just flash a crowd?

I have spent way to much time looking at the Euro situation !

Here is my VXX chart green arrow denotes first buy point. (First batch of calls sold yesterday Tones o7media know the trade is real; 2.5 bagger) bought second batch on this mornings dip.

 

Hope I don't get egg on my face end of day or rally next week !

*Where there is chaos there is profit*     buyhiselllow quote of the month.

 

Wish me luck !

 

WTF just happened to the dollar?