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Where the hell is everyone? Bo, a drink please? Ich habe a big thirst.
Man, living in different time zones can be a byatch. Reminds me of that Walter de la Mare poem "The Listeners":
'Is there anybody there?' said the Traveller,
Knocking on the moonlit door;
And his horse in the silence champed the grasses
Of the forest's ferny floor.
....
But no one descended to the Traveller;
No head from the leaf-fringed sill
Leaned over and looked into his grey eyes,
Where he stood perplexed and still.
But only a host of phantom listeners
That dwelt in the lone house then
Stood listening in the quiet of the moonlight
To that voice from the world of men:
...
And he felt in his heart their strangeness,
Their stillness answering his cry,
While his horse moved, cropping the dark turf,
'Neath the starred and leafy sky;
For he suddenly smote on the door, even
Louder, and lifted his head:—
'Tell them I came, and no one answered,
That I kept my word,' he said.
Never the least stir made the listeners,
Though every word he spake
Fell echoing through the shadowiness of the still house
From the one man left awake:
Ay, they heard his foot upon the stirrup,
And the sound of iron on stone,
And how the silence surged softly backward,
When the plunging hoofs were gone.
And, Bo, put your pants back on! My God.
http://screencast.com/t/khv0dd8IYI
oh and did you ever go the mac route for your computer issues?
BTW Brinkley, I'm in the market for a new monitor or two. I recall you said something about replacing yours. What did you get and how do you like it/them?
Do you have 2 PC's with three monitors connected to each or 3 PC's with two connected to each. My reason for asking is I am wondering what kind of power (memory, processor, etc) is needed to run three monitors with streaming charts. I realize it probably requires a second video card but wondered if anything else "special" was needed.
Anywhoo, if you ever get around to having a sloper bash, I am game to MC unless I am not available that weekend. Now go have some chow fun, and tell us about it on Monday.
A weak day on Monday, and I think we'll finally get a little acceleration.
And isn't there something about a H&S pattern needing high volume to be confirmed?
Just something to consider, opalchip.
Just where have you been all my life (he said reading that from the back of a romance novel).
let me buy you a drink! G&T?
Bo! Where the hell is he when you need him?
and was just about to ask for her (his) phone number. And on the internet,
how do I know you are telling me the truth and not keeping her (him?) in
abeyance for yourself. I would not put that past you or the Blind one.
Ok, I am doing a chart of you!
obfuscate. And about next week, don't worry, I have it all charted out. You
can count on me.
Every day I learn so much from you guys. Thank you all.
Lets have a wonderful weekend everybody, Monday will be another week :)
Do you like the AT platform?
Keeping the losses small is I think the biggest challenge we all face. Someday I will write about my losses (white trading options), I am notdoing it now, because I am afraid, Tim will throw me out of here for being SOOOOOO stupid!
I LOVE the AT platform. Watching the price move on the Dome is like watching some video game! Very exciting and scarry at the same time.
Watching the ES prices move is like a jazz score to me. I think Infinity got the design right too. And the AT is fast!
Lovely to see you, Rene. Have a sweet weekend ;-)
I will be studying the whole weekend. I would like to start some practice trades from Monday.
Thanks for the help and support.
I found this @
http://www.chartpatterns.com/headandshoulders.htm
The head and shoulders pattern is generally regarded as a reversal pattern and it is most often seen in uptrends. It is also most reliable when found in an uptrend as well. Eventually, the market begins to slow down and the forces of supply and demand are generally considered in balance. Sellers come in at the highs (left shoulder) and the downside is probed (beginning neckline.) Buyers soon return to the market and ultimately push through to new highs (head.) However, the new highs are quickly turned back and the downside is tested again (continuing neckline.) Tentative buying re-emerges and the market rallies once more, but fails to take out the previous high. (This last top is considered the right shoulder.) Buying dries up and the market tests the downside yet again. Your trendline for this pattern should be drawn from the beginning neckline to the continuing neckline. (Volume has a greater importance in the head and shoulders pattern in comparison to other patterns. Volume generally follows the price higher on the left shoulder. However, the head is formed on diminished volume indicating the buyers aren't as aggressive as they once were. And on the last rallying attempt-the right shoulder-volume is even lighter than on the head, signaling that the buyers may have exhausted themselves.) New selling comes in and previous buyers get out. The pattern is complete when the market breaks the neckline. (Volume should increase on the breakout.)
i had an average price of 1.95 going into this morning and when it took off i sold at 2.20 i saw it get up in the 2.30s and was thinking about shorting but i got distracted. then in the last few minutes before the close, huge sell off. hope you covered your shorts. picked some up again around 1.80 and 1.75 at the close.
any idea on why this selloff happened?
The only thing I saw news wise (cuz the chart is pretty sloppy on it right now) was that their steel supplier was refusing to supply AXL with steel because they were being a slow pay company...a judge ruled that the steel supplier MUST supply them with steel and that's all I found...one condition of the judges ruling was that AXL has to pay on time for the newly delivered steel...I have no clue why it dropped like that but will be watching that monday...it is in the "might go bankrupt" category on several networks.
Good job on your side too bro!!
I ALMOST shorted AIG this morning...then ALMOST went long at 1.25 up...then I peed on myself...lol
http://screencast.com/t/9TiULdBB0
Oh, and make mine a whisky sour
http://www.youtube.com/watch?v=vz8CbcOSqpY&feat...
Have a good weekend TK and all.
A few years ago I was in a New York City restaurant with my sister, who suddenly asked me: "Who's eating here?"
"Huh?" I didn't get it.
She pointed out that there were secret service people all over the place. I don't know how she could tell, but she could. She went over to one of the people whom she identified as secret service to ask whom they were protecting.
Possibly he shouldn't have told her, but he did: it was the vice president of the U.S.
The V.P's back was turned to us, but once his identity had been pointed out to me, I recognized him.
That was the first time I ever went anywhere where there really WERE cops in the room -- that I knew of.
http://images.google.com/imgres?imgurl=http://w...
And I really love cats. And dogs? Ah, they're the greatest....
http://www.bloomberg.com/apps/news?pid=20601087...
http://www.screencast.com/t/UcJgSDFfd
B, I think I might quit my job and focus on trading for a year or two. Any advice? I'm 40 and feel like I need to follow my heart. I know only I can answer for myself, but do you think it's worth the risk?
Sorry for heavy question on a Friday night. :-(
My suggestion, is work on your trading approach, and develop your own personal trading program. If you have some time to trade while still employed, it gives you a chance to fine tune your approach. If you can make consistent profits, then you'll know before quiting your job how you'll do.
It is a bit difficult to make consistent profits as a part time trader. It seems the first hour or so in the morning is designed to mess up retail traders. It took me a long time to get it to work, and not every day presents good trades in the first hour or so of the day. What's funny, is, that when you go from making profits trading only the first 90 min of the day, to having the whole day, is like driving a corvette in valet mode versus full throttle. I find it incredibly easier to make money in the market if I have the whole day to trade vs. only the first 90 minutes.
Although, I think I netted only $45 today, which was a real laugher.
The thing for me that made the difference, was understanding that price movement in the market is so highly manipulated, that success lies in knowing not what price should do under a given scenario, but being able to read what the manipulators will likely do in that scenario as they try to blow stops and fake people into entering a trade in the wrong direction of a price movement.
What really makes it a challenge, is you have to get how most will play a particular setup, and then anticipate how the fakes will be done to defeat a large number of the people playing that move.
I find it a head game mostly. Some days I see the game plan clearly, and it's easy to make money, and somedays I have no idea, and stand aside. The approach I shared with you last friday, is designed to catch the bulk of the move without being impacted by the fakeouts.
Anyway, best of luck on what ever you decide.
My focus is on developing a plan. I'm not really sure where to start, but with the great advice I'm getting from people like you, I'm sure I can develop at least a decent initial program pretty soon.
I totally agree with what you said regarding the minipulation. It pays to follow that and be able to at least get a feel on when to step aside.
Hope you get some fun in this weekend.
follows:
1) Start with all years & draw major TL's and cross trends.
2) Then zoom in to about a 2yr time frame, & identify fibs, H&S's
triangles flags or other key elements.
3) with an overal view of the TA situation, I focus on candlestick
reversal patterns.
Now for the part you are interested in.
4) Volume is the clue. When the boyz have finshed taking people for a
ride either up or down they distribute their position to dumb money.
If you study the chart history of the stock you are trading, you'll
get a feel for their game.
What I do, is use contingent market orders effective the last 2
seconds of the day if the price is past my line in the sand, then I
sell at market. This way the "noise" intraday doesn't trip my stops.
You can use the OCO or one cancels other type of order and place
either hard stops or contingent orders way way out of the way in case
of a runaway move for protection.
Now deciding where to place the end of day stop depends on the
individual equity, & the candlestick reversal pattern you are trading.
If it's a bearish engulfing, I might set the stop for if the price is
above the opening price of the bearish engulfing candlestick for that
next day. Then the next day use the mid point + $.05 of down day #2.
Once below the 8 EMA, the stop probably works best if set just above
the 8 EMA.
If you study charts for a while, you get a feel for how to adapt the
basic idea.
Also for closes, set a target i.e. 50 SMA, fib line, or when you see a
bullish reversal pattern develop.
It's hard work, but a few percent return per week is generally
doable. If I work hard at it I can do about 10% a month, but often
don't work that hard at it.
I always use volume for my clue but I'm not exactly sure what you're saying.
Are you talking about an intraday basis in your point #4?
Also curious as to why the 8 EMA.
dumb.
As to 8 EMA, you just have to see what works, & in my experience it
does. When day trading ES, I use DMA 21, H+L+C/3 & exit when the 1
min closes past that line.
dumb.
As to 8 EMA, you just have to see what works, & in my experience it
does. When day trading ES, I use DMA 21, H+L+C/3 & exit when the 1
min closes past that line.
reading the tape. My son asks me at least once a week to explain to
him how to do it. What's weird, is while I can explain what I see on
say the SPY, I'm not sure exactly what it is that will often clue me
in to how the market will move several days in advance. I do know
volume is probably the single most important thing about a chart you
need to watch. It is also the single most truthful thing about a
chart. Think of it as a lie detector. If volume doesn't confirm the
pattern price is printing, then odds increase you're being duped by da
boyz.
email me at my gmail account...jgn2112
disqus problems...sorry if this is a repeat
As you may be aware, the unfortunate truth is that far more traders fail than succeed over time. The crash and burn rate among our lot is alarmingly high. During the years that I ran my service and trading room, which both catered to professional traders and had an emphasis on education, the members who I felt could really "make it" trading full-time comprised a sizable minority. I don't mean to be discouraging, but it's a big decision. Discipline and commitment are obviously major factors. If you leave a post here with more background information, I'll do my best to give you whatever input/guidance I can, but ultimately you're going to have to sort it out and make the best decision you can for your individual attributes and situation. Following your heart is important, as long as you let your head weigh in on the debate as well. As you say, you know yourself better than anyone; just be honest with yourself as you evaluate the pros and cons. You're also welcome to email me at dianekjs@mac.com.
About your email address: someone here advised me that, to avoid spambots, write
dianekjs at mac dot com.
I appreciate the tip about posting email addresses, I didn't know that.
On another note -- how was your son's experience in Uganda? What an amazing opportunity!
All this, and he hasn't even started his sophomore year! Again, thanks for asking.
http://www.youtube.com/watch?v=g1VOcZ280vA
Why is it that I have to give up two hours of every Friday of my life to entertain folks here at the slope when all I get in return are empty promises and complaints about dates gone bad? I don't profess to be some evil speculator, but really! Is this all that you are good for? I will no longer host happy hour here at the slope. I have toiled and put in my dues to hand over my responsibilities to Katzo7. He will be attending to your needs here on out. I will be doing what I do best, taking care of things that mean the most to that part of our civilization that needs the most caring. Have a nice weekend everyone and please don't let me catch you complaining next week. Good night and good morrow everyone!
You are HOT son.......call me Monday.....
You have nice ears.....
:o)
we'll miss u bo :( this bong rip is for you.
Want another tip? Short September mohair futures (it's going to be a warm winter), but you didn't hear it from me.
Now make with the sauce, tout de suite, my good man.
Mission completed.
Here's to you!
... if she's lucky.
we are semi engaged... its not official, i havent formally popped the question yet but we both know ....
only problem is timing ... might be a year or 2 before any wedding plans get made. i'd like her to finish college first.
Arrive Miami (MIA) 12:24 am tip+1 day Fri 17-Jul
Duration: 1hr 59mn
US Airways US Airways 1577
Nonstop flight
There you are. should I pick you up when I land?
Just kidding Brinks. Have a nice weekend and I will see you one of these days.
Bo, where is my hard earned G&T!
didn't give it a wide enough stop. Third worked, then fourth I had to
close ad hoc as my son was coming out of surgery, then in post op I
picked up 4 points which put me exactly at a wash. 8 trades
altogether, plus a few dollars profit on USO. Thought, what the heck,
I expect the SPX to tank next week, so USO would lead the pack, so I
closed that long. Oh well heading to Camano Island now, for crabing &
jet-skiing. Should be more fun.
Cheers, next round is on me.
But for the week I'm up ever so slightly.
Gregory G McGary
Sent via iPhone 3Gs
email me at my gmail account...jgn2112
http://screencast.com/t/khv0dd8IYI
http://www.youtube.com/watch?v=m7TnRnPma3k&feat...
And he looked younger at Myrtle Beach in a time long ago.
http://www.youtube.com/watch?v=A1fyaT8MWK4
Is photography one of your pastimes?
(I do like photography, but just amateur dabbling)
http://www.ambgtrading.com/2009/07/almost-flat-...
Honey, if I wasn't who you thought I was would you think I am the man who you thought I would be?
Well, not recently.
I get my highs from physical activity, sunshine & the sea.
that could be kinky, I suppose...
http://www.youtube.com/watch?v=63PmFz_SXD4
:-)
There is a quiet table over in the corner, I'll be over there if anyone is looking for me.
Nothing personal, I am just tired. This market......... arghhhhhhh. All'ya'all know.
Otherwise, I'm glad you worked hard today and made it happen Bri. We, at the slope are proud of you. :)
I am off to take a puppy-nap. Need to rest up for all the mountain bike casing this weekend .. tour de france.
Have a great weekend! See you Sunday afternoon.
I thought you had left already? SOunds like a cool trip, west coast right?
This is not here is you hat, what is your hurry Ashok.
LOL
"This is not her is you hat,...".....I lost that last part....?
Ash
hat at a gathering and to get them to leave. Are you Indian? I am an
honorary desi (from the homeland), I was made one because I like bedekar
pickle. I grew up with Indian grad students living next door to me.
from India, though I have been in the US for 31 years now....hello again and
very nice to make your acquaintance......
Bar looks good Bo....Clean....will let TK know.....
You guys are too funny. Bo, never heard that one before.
OK, gotta go watch a movie with the countess. Have a great weekend everyone.
See:http://xtrends.blogspot.com/2009/07/huge-volatility-spike-is-coming.html
Just continue with your timely comments please.
Anyone know if there is any relation with opex and vix? does it tend to be more/less volatile, or is it just random.
weekly: http://screencast.com/t/1HxSjy3sYrb
daily: http://screencast.com/t/1HxSjy3sYrb
daily zoomed: http://screencast.com/t/tFeg8vF8P
A conning tower is a raised platform on a ship or submarine, often armored, from which an officer can con the vessel; i.e., give directions to the helmsman. It is usually located as high on the ship as practical, to give the conning team good visibility. (from Wikipedia)
& tomorrow should bring scads of fresh crab. First of the season.
Gregory G McGary
Sent via iPhone 3Gs
I am looking at EWT (Taiwan Shares) NYSE on stockcharts.com and it shows a recent high of 11.5 while the graph on the blog shows a high of ~14.5.
Am I looking at the right security?
Gin & Tonic please....
I hope Bo can handle all those variables at once.
http://www.youtube.com/watch?v=LNQU-tVSuw4
http://www.youtube.com/watch?v=avwCXNAfUlE&feat...
http://www.youtube.com/watch?v=zsskd9LCp_Y
http://www.youtube.com/watch?v=qpDer9wdUEw
The wife has a coke collection to die for.
A friend brought her a can of Lime Coke from the Honduras...it was on a mantel in our bathroom with numerous others....I hear this loud ass BOOM one night and what sounded like running water...I thought...oh great...we blew a water pipe....nope....the lime in the coke can fermented and it exploded all over our black granite bathroom...
Have we not just broken down a major support level with today's close????
http://www.screencast.com/users/inkypenumbra/fo...
~12% of wave 2s retrace to 38%
~73% of wave 2s retrace between 50%-60%
~15% of wave 2s retrace more than 60%
up at the Shore Club. You may certainly NOT see my ID and there is nothing
you can teach me about salsa, merengue or cumbia. But I could teach you a
lot about Mambo and Hustle.
http://www.collegehumor.com/video:1916727
Thanks for the laughs!
http://www.finviz.com/publish/071009/DINc1dl205...
http://www.bostonwealth.net/2009/07/11/sp-500-b...
I have been watching your posts now for a while ... and a lot of your technical analysis makes sense to me ... thanks for posting ...
http://oahutrading.blogspot.com/2009/07/es-chan...
http://oahutrading.blogspot.com/2009/07/lots-of...
I loved the drink, said he, but never the drink loved me.
Hmm, sign says Poughkeepskie? Something's not right here...
We are the world, we are the tag team, baby.
Edit: actually, New Jersey is a place all unto itself, so, quadruple cultural reference :-)