Stock Market Today - Intraday discussion - Page 6507  

I'm not familiar with pinches.  What does this indicate for price movement?  Up or down?

 

Quote:

Originally Posted by OldFart 

take a look at SPY 1hr thru 4hr charts...

SPY showing pinch setting up....

not sure if it'll take or fail

 

 

Quote:

Originally Posted by Rhythmdoctor 

I'm not familiar with pinches.  What does this indicate for price movement?  Up or down?

I'm a pinch trader.  I use that pattern to help determine a short term or long term bottom.  I used to play the first bounce off them (particularly on the smaller time intervals) but have since backed off that method due to volatility and now wait for when the stock accumulates and breaks out after that initial short cover pop you see on many of them.  

It would indicate up from here....if it played out.....

 

Quote:

Originally Posted by Rhythmdoctor 

I'm not familiar with pinches.  What does this indicate for price movement?  Up or down?

 

 

So does it only indicate bottoms or does it indicate tops too?  I'm trying to figure what Old Fart's analysis is implying.

 

Quote:

Originally Posted by Rock Sexton 

I'm a pinch trader.  I use that pattern to help determine a short term or long term bottom.  I used to play the first bounce off them (particularly on the smaller time intervals) but have since backed off that method due to volatility and now wait for when the stock accumulates and breaks out after that initial short cover pop you see on many of them.  

 

I still use it short term....works pretty well on 1 min charts

 

Quote:

Originally Posted by Rock Sexton 

I'm a pinch trader.  I use that pattern to help determine a short term or long term bottom.  I used to play the first bounce off them (particularly on the smaller time intervals) but have since backed off that method due to volatility and now wait for when the stock accumulates and breaks out after that initial short cover pop you see on many of them.  

 

I use it for finding overbought / oversold conditions on short time frames....1 - 5 min charts

 

Quote:

Originally Posted by Rhythmdoctor 

So does it only indicate bottoms or does it indicate tops too?  I'm trying to figure what Old Fart's analysis is implying.

 

 

Quote:

Originally Posted by Rhythmdoctor 

So does it only indicate bottoms or does it indicate tops too?  I'm trying to figure what Old Fart's analysis is implying.

I have a "reverse" pinch setup for that.  OF has his own version.

eh just range bound, shorts will want to cover into the holiday... then perhaps a "rally" which use loosely.

Santa rally is one comes is expected last 4 days of the year and first 2 of Jan,.. but might start to creeping back up pending earnings.

the deterioration might be stemmed for awhile longer. Not enough speculators to take on everything at once.

Quote:

Originally Posted by OldFart 

It would indicate up from here....if it played out.....

 

 

Volume pickin up on the pull back

.00 lod print on NFLX

Quote:

Originally Posted by LilCoonazz 

Volume pickin up on the pull back

I was just doing a little search for something and found a post from you from 2005!

Wow, you are one of the "old ones" here

Quote:

Originally Posted by OldFart 

I still use it short term....works pretty well on 1 min charts

Ya, I've got a couple traders who scalp nicely with it.  I just can't scalp right now.

Not that anyone cares but I finally took profit on my short at 1281 - got out just now at 1187 ES.

I just couldn't stand waiting for it to drop more and if we rally to 1220 and I end up getting out there, I'd be super pissed.  So now it's back to waiting on another good short opportunity!

OK gonna toss another one out there.  SGEN.  Options look lopsided to the call side.  Shorts decreased by 3 million from September 31st to October 31st.  Any thoughts?

Roulette is 50/50 black or red. The stock market is different. We are actually bidding on something that has value. The more red days= the product is getting cheaper.

it becomes a supply demand game. The more demand, the higher the price. So the probability of going up increases as the markets go lower.

Investors who buy based on fundamentals buy when stocks get cheap

ya i wouldnt of held it any longer and most likely sold yday. I got in short but not at that level. stepped it down. nice trade.
 

Quote:

Originally Posted by Rhythmdoctor 

Not that anyone cares but I finally took profit on my short at 1281 - got out just now at 1187 ES.

 

I just couldn't stand waiting for it to drop more and if we rally to 1220 and I end up getting out there, I'd be super pissed.  So now it's back to waiting on another good short opportunity!

well so called cheap... evaluations are a biatch..

cant wait until 1Q comes and april.. some firms are targeting the same month etc unofficially.. might be a safer point to pull the string apart.. see what happens mid Decish
 

Quote:

Originally Posted by hermanpu 

Roulette is 50/50 black or red. The stock market is different. We are actually bidding on something that has value. The more red days= the product is getting cheaper.

it becomes a supply demand game. The more demand, the higher the price. So the probability of going up increases as the markets go lower.

 

Investors who buy based on fundamentals buy when stocks get cheap

Originally Posted by Rhythmdoctor 

Not that anyone cares but I finally took profit on my short at 1281 - got out just now at 1187 ES.

 

I just couldn't stand waiting for it to drop more and if we rally to 1220 and I end up getting out there, I'd be super pissed.  So now it's back to waiting on another good short opportunity!

That's simply amazing. No trade management? Just 1 lot. F'n nuts. Nice trade.

Next time try 2 or 3 lots. It'll help you manage your trade. Then you could take profit from 1 lot here and

have that locked instead of jumping all the way out. 

Quote:

Originally Posted by IchibomB 

Next time try 2 or 3 lots.

thats all i do, ... took 10 at one point avg in, but ran and hurt. so smaller is better with futs ..

anyways since people re leaving today and such for the holiday, have a good thanksgiving and stuff your faces and drink until your gut explodes.

Someone unlucky buy LVS so it drops please