Slope of Hope with Tim Knight - Latest Comments in Important Point

Re: Important Point

Ragnar — Tue, 14 Jul 2009 13:14:28 -0000

The wrath awaits. Just a matter of time...

Re: Important Point

Ali — Tue, 14 Jul 2009 10:59:26 -0000

I have 10, 34, 50 and 200 EMAs switched on when I'm cycling through daily charts, and look to see if prices are reacting off any of those levels. Often prices will just bounce off which ever is nearest. Lots of people use the 20 and 65 EMAs as well I hear, but I don't like too many lines on my charts.

I use the 10 EMA as a guideline for picking out the ST trend and as a general rule prefer to short only when prices are below the line or buy when above. I read the other day that Brinkley uses 9EMA and Gregg uses 8EMA, so I guess it's a matter of personal preference. I use the 10 EMA, because I figure this is the line other people are most likely to be looking at and therefore the most relevant to price action.

Simple as that really.

Re: Important Point

InthePink — Tue, 14 Jul 2009 10:39:18 -0000

I agree that 900 is being defended by the bears... though within the
next few days I believe we need to hit the top of the channel; not
much higher though

Re: Important Point

garo — Tue, 14 Jul 2009 10:37:02 -0000

Eyeing some FXP here. Would be even better if FXI has a blow out top near 40 again.

Re: Important Point

yazzer — Tue, 14 Jul 2009 10:36:54 -0000

maybe so Pink, I guess my mojo is just not telling me we're going UP today. Still, though, every attempt at a rally is met with some pretty good selling....that being said, there's a desparate line-in-the-sand being defended at SPY = 90.0 (which kinda just broke as I was writing this)

Re: Important Point

InthePink — Tue, 14 Jul 2009 10:34:29 -0000

Modab, I agree, I think we should hit 893s at some point. Figured it
would be in the AM though.... Right now I'm sitting in a small short @
896.25, looking for about 3 pts target. This VWAP oscillation is a
killer

Re: Important Point

Ali — Tue, 14 Jul 2009 10:31:22 -0000

Did I sell too early or what? Story of my life.

Re: Important Point

Modab — Tue, 14 Jul 2009 10:30:02 -0000

Thats what I see as well Pink,

Although I would like to see a sell of as I am sitting short....I think we stay around the flat to down a little area /ES 893 and wait for INTC after hours

Based off of the move from yesterday to pre-open...I see $89.95 support for the SPY....a break below that level can take us to $89.41 and $88.97.

Might cover my short for now and wait and see how the day plays out. Will give it a little room to wiggle around first.

Re: Important Point

garo — Tue, 14 Jul 2009 10:28:56 -0000

Thanks, that was a big-ass itch.

Re: Important Point

thegutterball — Tue, 14 Jul 2009 10:28:30 -0000

nice trade. can i ask something as i am trying to learn this stuff...how do you choose what period sma/ema to use? how did you decide 10 ema on this one?

Re: Important Point

RichRR — Tue, 14 Jul 2009 10:26:41 -0000

My market direction compass is spinning...must be a UFO nearby....

Re: Important Point

Tim Knight — Tue, 14 Jul 2009 10:24:27 -0000

NEW POST

Re: Important Point

yazzer — Tue, 14 Jul 2009 10:21:43 -0000

Try Gold Bond for that Itch!

Re: Important Point

yazzer — Tue, 14 Jul 2009 10:21:16 -0000

Well, we shall see - my mojo has been pretty good of late BUT - there's a sprinkling of days that have been completely WRONG! LOL!

Re: Important Point

InthePink — Tue, 14 Jul 2009 10:20:56 -0000

I'm thinking we may jsut get some oscillating and range trade until teh afternoon... could be wrong of course

Re: Important Point

amgrant — Tue, 14 Jul 2009 10:20:56 -0000

Very interesting read:

http://zerohedge.blogspot.c...

Re: Important Point

garo — Tue, 14 Jul 2009 10:20:14 -0000

Deleted. Disqus screwup.

Re: Important Point

Ali — Tue, 14 Jul 2009 10:19:53 -0000

Covered at around 14.50.

Re: Important Point

garo — Tue, 14 Jul 2009 10:19:15 -0000

Deleted. Disqus screwup.

Re: Important Point

garo — Tue, 14 Jul 2009 10:18:59 -0000

Deleted. Disqus screwup.

Re: Important Point

garo — Tue, 14 Jul 2009 10:18:13 -0000

Itching to add more GE here. Suffering over the past couple of days because I did not put a tight enough stop on my September puts. So I have watched them dwindle but believe time to still be on my side.

Re: Important Point

writersblock — Tue, 14 Jul 2009 10:17:24 -0000

Can definitely use it! :-) Hope I can return the favor.

Re: Important Point

Modab — Tue, 14 Jul 2009 10:17:03 -0000

I sure hope so Yazzer...... I LIKE YOUR TRAIN OF THOUGHT....makes great market sense

not sure how far we can pull back but this week is going to be volitle.....INTC after hours will have a possible market moving announcement. I cant see how they can give positive guidance..but you just never know.

Re: Important Point

Flatlander — Tue, 14 Jul 2009 10:16:26 -0000

Nice call!

Re: Important Point

thegutterball — Tue, 14 Jul 2009 10:15:44 -0000

nice call there