Stock Market Today : July 30th - August 3rd - Page 30

-tones2012

don't let the streams touch!!!

Quote:

Originally Posted by ankhmor 

I've got a beginner question: Clearly we had a lot of accumulation yesterday afternoon. A big gap this morning. And then the price kept going up and stayed up. I didn't buy in the morning thinking that since we have many buyers who are already bought in, it might not be the smartest idea to be the schmuck who buys at the top. I figured we'd have a little pullback. Now in hindsight I know I should've bought, but I still can't spot the time when I should've entered. Would entering after we broke 138.85 have been a smart decision?

Your approach was very logical.  Yesterdays absorption tipped me off that there was positive data coming out, but ya the AFTER is what is curious.  This is where "effort vs. results" comes into play.  One must gauge the dips and the force upon which the selling occurs (volume).  VWAP is benchmark of professional traders and institutions so if they're willing to keep buying above then that can be a cue for you.  I also commonly look for divergence and if it happens on low volume I recognize the sellers don't have much spunk and it's a bear trap.

The third candle on the 5min SPY chart today was a bullish engulf after a brief sell off and vaulted right back above VWAP ..... something else I considered cue in looking for the gap and go.  

EDIT:  Just saw Ichi's post .... he's the most right though ... it's better to let a move pass you then risk chasing it.  Let it come back to you at known supports and demand lines.

Quote:

Originally Posted by tones 

 

-tones2012

Are you pointing out the potential death cross..... or the potential falling 3 pattern?

Oh wait...both are bearish.

Sorry bulls 

Originally Posted by ankhmor 
I've got a beginner question: Clearly we had a lot of accumulation yesterday afternoon. A big gap this morning. And then the price kept going up and stayed up. I didn't buy in the morning thinking that since we have many buyers who are already bought in, it might not be the smartest idea to be the schmuck who buys at the top. I figured we'd have a little pullback. Now in hindsight I know I should've bought, but I still can't spot the time when I should've entered. Would entering after we broke 138.85 have been a smart decision?

Today wasn't the time to buy. Don't chase or bet that schmuck. 

Yesterday at the close was the time to buy. Or during the Tokyo/London open last night (futures)

The simple fact is that you're not going to catch every move. You can't think 'oh..I missed out'.

Or "I could've made money today.'

This game keeps on going and it will happen again.

IMO, no it would've been a bad idea to enter at 138.85. In hindsight, sure but in reality with how I approach the market, no.

You'll get different answers based on different strategies and approaches to the market. 

Quote:

Originally Posted by IchibomB 

 

Today wasn't the time to buy. Don't chase or bet that schmuck. 

Yesterday at the close was the time to buy. Or during the Tokyo/London open last night (futures)

 

The simple fact is that you're not going to catch every move. You can't think 'oh..I missed out'.

Or "I could've made money today.'

This game keeps on going and it will happen again.

 

IMO, no it would've been a bad idea to enter at 138.85. In hindsight, sure but in reality with how I approach the market, no.

 

You'll get different answers based on different strategies and approaches to the market. 

I still blame you blasted futures traders!!!!! Always ripping potential moves from us before the market opens!

EDIT:  You know, I sort've see why futures exists(me and my crazy theories).  The key to the market is always imbalance.  HFT's and professional money want to be able to explot it and they can't do that (or as effectively) if there was just the regular market hour.... so they artificially create it via futures, which we know most regular people don't have access to or use.  They can cash out on the gap, steal retail shmucks shares who bought into the gap, and then prosper on the rise again.  This works to the downside much the same.

 join the dark side anytime!!!

Quote:

Originally Posted by Rock Sexton 

 

I still blame you blasted futures traders!!!!! Always ripping potential moves from us before the market opens!

 

EDIT:  You know, I sort've see why futures exists(me and my crazy theories).  The key to the market is always imbalance.  HFT's and professional money want to be able to explot it and they can't do that (or as effectively) if there was just the regular market hour.... so they artificially create it via futures, which we know most regular people don't have access to or use.  They can cash out on the gap, steal retail shmucks shares who bought into the gap, and then prosper on the rise again.  This works to the downside much the same.

There's so much less bullshit with futures, not having to worry about gaps (weekends aside) is enough reason alone to jump in. Patterns are much better too. 

Someone needs to tell the 1% and big corporation/HFT traders that if they keep rallying up with such BS.... they will never see QE3 ever again to have the gov't money goes directly into their pockets.

Quote:

Originally Posted by ankhmor 

I've got a beginner question: Clearly we had a lot of accumulation yesterday afternoon. A big gap this morning. And then the price kept going up and stayed up. I didn't buy in the morning thinking that since we have many buyers who are already bought in, it might not be the smartest idea to be the schmuck who buys at the top. I figured we'd have a little pullback. Now in hindsight I know I should've bought, but I still can't spot the time when I should've entered. Would entering after we broke 138.85 have been a smart decision?

The only time I would think about buying on a gap up is on a breakout (i.e. had we gapped up to 140, which would have been a channel breakout). 

Quote:

Originally Posted by goneRogue 

There's so much less bullshit with futures, not having to worry about gaps (weekends aside) is enough reason alone to jump in. Patterns are much better too. 

That's because it's at the top of the food chain, no market makers to deal with, yada yada yada  .....

There's lots of trickery in futures. The leverage and volatility will crush even the biggest set of nuts. 

I have a friend that is very successful in stocks but tried futures and blew through a wad of cash

before deciding to just stick to what's paid him well in the past (stocks). 

Quote:

Originally Posted by OldFart 

It's 6:00 pm est on a friday.... Get a life or get a beer ....or both lol

3 o'clock here maestro and I prefer to leave the sauce alone until after nine.  

about to head out to Crater Lake oldf***** I mean fart!!!

Originally Posted by Rock Sexton 

 FAIL