Stock Market Today : Aug 13th - 17th - Page 5

Quote:

Originally Posted by charulz 

so let me get this straight..

 

good news is good news

bad news is good news

no news is good news

 

Gotta get out of that mindset man ..... stop trying to gauge what news does this, what news does that.  It's a complete waste of time.  There's no way you'll ever crack that code.

Quote:

Originally Posted by Rock Sexton 

 

Gotta get out of that mindset man ..... stop trying to gauge what news does this, what news does that.  It's a complete waste of time.  There's no way you'll ever crack that code.

Great point Rock not to mention how it can be spun....You can watch MSNBC and FOX news talk about the same news story but you get a completely different slant from both on the same story...

Quote:

Originally Posted by webChris 

When the market wants to rally, it rallies. When the market wants to tank, it tanks. News is just something to watch lol.

Very true..!!

yep.. this is the problem with news.. you aren't sure how the market will absorb the information.. good news is good news today, but good news may be bad news tomorrow.. and sometimes good news is no news because its been expected...

Quote:

Originally Posted by Davecash77 

 

 

Great point Rock not to mention how it can be spun....You can watch MSNBC and FOX news talk about the same news story but you get a completely different slant from both on the same story...

Quote:

Originally Posted by Davecash77 

Great point Rock not to mention how it can be spun....You can watch MSNBC and FOX news talk about the same news story but you get a completely different slant from both on the same story...

It drove me crazy back in the day when I used to attempt it.  Decided to stop giving my money away.  

http://finance.yahoo.com/news/chinese-companies-pull-us-stock-095649722.html

Chinese companies are pulling out of the US stock market...

Quote:

Originally Posted by Venom08 


Bought for $4.60 and sold at $8.25.
+80%. It's been a while since I made such a gain.
Edit: I'm kind of regretting selling now, I think we rally harder with aapl today as it hasn't had a super strong 1 minute candle rally and it's still so early in the trading day.

There is no natural chart resistance until 641.25 ..... hasn't been since we broke the 618.79 threshold.  Hence this move the past week and nothing but buying for the most part.

Looks like a nice inverted H+S setting up on the 10 minute $XLF chart...Lets see if we get any failed patterns because that is what i think will happen.We will get a bullish set up and everyone will jump on board then it reverses...

Quote:

Originally Posted by Rock Sexton 

 

It drove me crazy back in the day when I used to attempt it.  Decided to stop giving my money away.  

True that. The more experience I gain, the more it seems like fundamentals have absolutely no place in day trader's toolbox

Also SPY is setting up to go lower for a bit. Say to ... 140.70

I'm so pissed I sold my $630 calls. I think AAPL will continue to climb higher but I feel like I'm done for the day. My shares are still doing work though so it's all good.

Quote:

Originally Posted by Venom08 

I'm so pissed I sold. I think AAPL will continue to climb higher but I feel like I'm done for the day. My shares are still doing work though so it's all good.

I hear ya. I sold my GOOG call yesterday at the gap open for a $150 profit. If I sold right now would have been $1000 profit. :(

Quote:

Originally Posted by ankhmor 

True that. The more experience I gain, the more it seems like fundamentals have absolutely no place in day trader's toolbox

It really doesn't.  The average person really doesn't have the means of correct interpretation.  That's why I stick to my charts.  It's a digital foot print.  Everything I need to know is in there.  Keeps it simple.

Quote:

Originally Posted by webChris 

I hear ya. I sold my GOOG call yesterday at the gap open for a $150 profit. If I sold right now would have been $1000 profit. :(

Haha ... I do that a lot actually.  Take 150-250 gains and leave a ton of jack out there when I'm day trading options like AAPL/GOOG.

Volatility indexes are up on an up day.... If what they've been foretelling for the past few weeks is correct, then we should sell of towards EOD or at least gap down tomorrow.

Them being up is also what's keeping me from buying this AAPL dip, I feel like it could end the day at $640 if there's no massive sell-off.

Quote:

Originally Posted by Venom08 

Volatility indexes are up on an up day.... If what they've been foretelling for the past few weeks is correct, then we should sell of towards EOD or at least gap down tomorrow.

I'm thinking that may be because we are up against year-highs for a lot of stuff and people are getting that short-term insurance for a big reversal.

Quote:

Originally Posted by webChris 

I'm thinking that may be because we are up against year-highs for a lot of stuff and people are getting that short-term insurance for a big reversal.

Agreed. I haven't seen a change in the SPY behaviour

What a bear trap in AAPL in the last 20 mins. Was watching stocktwits and all the twits were jumping into shorts when the stock pulled back slightly. They'll be driving it back up as they buy to cover their shares at a loss now.

Quote:

Originally Posted by webChris 

What a bear trap in AAPL in the last 20 mins. Was watching stocktwits and all the twits were jumping into shorts when the stock pulled back slightly. They'll be driving it back up as they buy to cover their shares at a loss now.

Agreed. I bought the $640 calls at $3.45 a few minutes ago.