I am still long...in fact, I even bought a little bit of stuff today.
For what it's worth.
For what it's worth.
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How 'bout that stock market?
- Thread starter Ski_Banker
- Start date
I'll know on the open. If the bids are legit, thick, stacked at the right prices, and the specialist prints where I think he should on the open I'd probably go long. So many guys have been killed at my firm by trying to call tops, you just have to go with the trend.
There were several long term (6 month+ charts) break outs on some of the financials and financial derivatives I trade.
As far as fundamentals are concerned with MS, I bet 3 or less people in the entire organization really know where the stock should be trading at. I was long MS-A over night for a few days and made a little profit today but it wasn't worth the trouble.
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No, in fact I hate it. LOL.
I am most likely wrong but this market is not trading on fundamentals and EVERYTHING is too damn expensive.
The chart looks okay lets see if that bottom holds.
Also Steve I will give you a call in a few days, helping a friend get water out of his house and clean up 
GIS treating me well today
Also Steve I will give you a call in a few days, helping a friend get water out of his house and clean up
Cool. I saw that on the news and called you to see if everything was ok.
Some decent selling this morning. My positions are holding up ok but you can't add into them forever. Up about 1/3 of what my goal is today.
Didn't touch MS today. It gapped up right where it should have so I didn't have any edge. I don't trade thick stuff off technicals but it'll probably put a bottom in for a little while anyways at 32.70. It's about 30 cents higher than that now.
Didn't touch MS today. It gapped up right where it should have so I didn't have any edge. I don't trade thick stuff off technicals but it'll probably put a bottom in for a little while anyways at 32.70. It's about 30 cents higher than that now.
hah the oil number cost me some $$$ today.
ouch...hurt to be long today lol!
GAZ isn't too expensive.
Here is one approach I use:
Screen for a strong A/D uptrend with a 30 day ATR downtrend and then go through each entry looking at the yearly and weekly chart for the overall trend. Also filter where the average 65 day volume is high enough for good liquidity. Then look for support and resistance lines for target prices expecially points where dojis are present.
Bought FTBK on 9/15, sold today for 96% return.
Bought AMFI on 9/16, currently up 62% from my entry date, will probably sell tomorrow.
IBD identified RINO yesterday up 14% and up 5.63% today.
VISN came up on my screen yesterday. (up 12% today)
Not everything is a winner, but the ones that do go up more than make up for the ones that don't always work.
UUP looks like its coming back from its low.
Good luck.
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I thought I would share a screener that I commonly use.
If you go to Barchart.com, you'll see the top performing stocks for the day.
Get the Price Advances or Percent Advances list somehow and dump it into your trading tool. Look for stocks that have new highs as well as an uptick in the Accumulation/Distribution chart.
You can also filter your list even more by looking at stocks that trade an average volume of 200,000+ shares a day. (Depending on how much you buy I suppose).
I use StrategyDesk, sometimes NinjaTrader, for my trading. I'm guessing most brokerage firms have some kind of tool to do this.
Look at support/resistance lines for new target or go to Yahoo finance and enter the ticker. The Summary page will give you a target price most analyst agree on for the year.
The list will still be long so you can add additional filters to reduce the list. (Like ignoring stocks that are below the 100d EMA)
Read the charts to find the ones with the most potential.
Even when the market is down, there is always something that is going up so you don't necessarily have to short.
Good Luck.
If you go to Barchart.com, you'll see the top performing stocks for the day.
Get the Price Advances or Percent Advances list somehow and dump it into your trading tool. Look for stocks that have new highs as well as an uptick in the Accumulation/Distribution chart.
You can also filter your list even more by looking at stocks that trade an average volume of 200,000+ shares a day. (Depending on how much you buy I suppose).
I use StrategyDesk, sometimes NinjaTrader, for my trading. I'm guessing most brokerage firms have some kind of tool to do this.
Look at support/resistance lines for new target or go to Yahoo finance and enter the ticker. The Summary page will give you a target price most analyst agree on for the year.
The list will still be long so you can add additional filters to reduce the list. (Like ignoring stocks that are below the 100d EMA)
Read the charts to find the ones with the most potential.
Even when the market is down, there is always something that is going up so you don't necessarily have to short.
Good Luck.
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Nice call! :biggrin:
About 3 points on the dow higher then when the shorts decide the market really is going up.
Been making most of my money on everything ING (except the common stock of course, not my style).
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I have been on this XOM butterfly now for a few months. I would like to see this market hold up until OE. The decay rate is between 100-200 a day. Been a good money maker for me. I have not been watching the markets at all as I just bought an apartment complex and I am getting that squared away. That will be up to snuff by the end of the month.
Yep good old 66 being support, this stuff is not magic just have to get a 5 year old to tell you what it looks like. Glad it's working out for ya, you still in the other two? They look to be okay as well.
Yeah all of them are working out. Did you see VNO, as we suspected it's down 6 bucks from where we were charting it. I was pretty certain that it was going down just needed bigger balls to take on that short. All the others are good though. Been a good month and I have not really been at the desk much either.
Keep it up
Funny how the same thing happens over and over. The only thing that changes is the state of mind you are in lol
Wow just pulled up the 3m and 6m on XOM. I see what you guys are talking about at the 66 level. You guys actually seeing bids come in or strictly off the charts? It should move up about 15-25 cents each time (relative to the last low) due to the new bids being placed.
Called it off the charts a few weeks ago.
Going to be a very interesting opening for me tomorrow. Our guy in chicago usually gives a 10min, 2min, and 20 second warning for the close of the market and I didn't hear $hit today. I was at court most of the afternoon so my timing was off as well. I'm carrying 6 large positions over night, all long. 3 of them I'd take the risk to reward on, but one especially is a real piece of junk I was just going for a quick move in. Definitely going to get blasted for 20-30 cents on a couple thousand shares on that one.
Glad I bought INTC @ $13.10 back in March.
Plan to hold for many years. :biggrin:
Plan to hold for many years. :biggrin:
