Sunday, May 26, 2024

Struggling Bulls…

The Bulls fell hard at the end of the day...

The market looked extremely weak all day today, as the 60 minute chart pushed hard to work off some oversold conditions.  Unfortunately, the 15 minute chart didn't help much as it was already in overbought territory, which meant that the 60 was trying to swim upstream against the monthly, weekly, and daily charts that were pushing it back down.

Tomorrow morning we have consumer confidence data and FHFA housing price index out at 10 am.  Not much else to move the market, as there isn't any earnings announcement on any company that can move the market.  Too me, it's a little frustrating as I could have gotten back in short at the high this morning, but I was expecting Tuesday to put in the high for the week.

It still might happen, but a gap up needs to occur in the morning.  The downward sloping trendline has held the market tight in a falling channel for several days now.  If the market can gap open tomorrow, and run higher, the next major trendline of resistance (from another falling channel) is around 1100 spx.  What a wonderful place to go short... if the market would be so kind.

We could continue falling, without stopping until we hit 988 spx area, which is the 20 MA on the Monthly chart.  I do believe that will stop the falling, but I won't be going long there.  I will exit most of the shorts I will hopefully purchase tomorrow, but I'd rather stay in cash and not get killed by the falling VIX on the ride back up.

So for tomorrow, it's pretty simple... a gap up should produce a nice run up to at most 1100 spx.  A flat or down open will keep the market inside the falling channel and the selling will continue.

Best of luck to everyone...

Red

P.S. As was surfing around a little bit, I went over to "Follow the Money" (link on Red Pill sites on my blogroll), and started watching a video about a earthquake watch until the 27th, and it started to bore me as it was getting too technical. But at the very end his stated the possible places for the earthquake... the lower tip of South America.................... and Baja, CA!

You want an excuse to blame the coming crash on... how about an earthquake? God have mercy on those people if it does happen. I pray it doesn't, but with or without the earthquake... the technicals say the market it about to puke!

Red
Author: Red

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AS2009
AS2009
14 years ago

Red – were you able to goto the doc ?

Red Dragon Leo
14 years ago
Reply to  AS2009

No, not yet. I've had for over 2 years now, so another week isn't going to change much. Thanks for asking.

AS2009
AS2009
14 years ago
Reply to  Red Dragon Leo

Wow – that's taking a pretty big risk – considering what they were saying about survival rates based on it going in further …. pls pls go …

I hope you have insurance …. is that the reason you have being delaying this ? 🙁

Red Dragon Leo
14 years ago
Reply to  AS2009

I don't have insurance, but that's not why. I just like the idea of them cutting a hole in my neck. I'll go after this sell off is done.

AS2009
AS2009
14 years ago
Reply to  Red Dragon Leo

I'm sorry Red – I know what you mean …. didn't mean to be sarcastic at all … just concerned … won't mention it again – sorry if it got too personal

Red Dragon Leo
14 years ago
Reply to  AS2009

That's fine… I know you mean well.

bigbadwolfusa
bigbadwolfusa
14 years ago

Nice write up red…i'm still in and believe it goes down some more also…eh…if you dont here from me in the morning that earthquake hit a little higher than baja and I am either gone or hopefully I get some beach front property…hahaha

Red Dragon Leo
14 years ago
Reply to  bigbadwolfusa

I sure hope that doesn't happen… Let's hope that's just another forecast I get wrong.

newbear
newbear
14 years ago
Reply to  Red Dragon Leo

red did you see how futures are tanking right now and the asia is plummeting as well look at the kospi down 3% already this news is alarming May 24 2010, 10:31 PM
dark1p: May 25 (Bloomberg) — Asian stocks and the won plunged to the
lowest in 10 months after Yonhap news agency reported that North
Korean leader Kim Jong Il ordered his military to prepare for combat.
The euro weakened and commodities declined on concern Europe’s debt
crisis may spread.

Red Dragon Leo
14 years ago
Reply to  newbear

I see them now… I should, would, could got short earlier today. But, there is more selling coming. I'll be getting short tomorrow asap. Remember, about 988 spx is the monthly 20ma level. That is highly likely to be hit.

Elliott-Wave-Education.com
Elliott-Wave-Education.com
14 years ago

That sure is interesting geo analysis…. very cool.

Red Dragon Leo
14 years ago

Scary huh… That's one way to bankrupt CA…

BloodWine
BloodWine
14 years ago

Hi Red 🙂 really good post

So… what if penn was right and we needed to watch the kospi as our primary indicator for world markets? Is that sort of like… jupiter is conjunct uranus in the north node of Venus?

Red Dragon Leo
14 years ago
Reply to  BloodWine

If you can line up Astrology with TA's, news event's etc… then you have one powerful move coming. I hope Penn isn't still long. He was such a diehard bull you know.

BloodWine
BloodWine
14 years ago
Reply to  Red Dragon Leo

well…if he was really using the kospi as his primary indicator… he won't be now lmao

Red Dragon Leo
14 years ago
Reply to  BloodWine

Here's the scare thing (and why it's good to have friends), Keirsten noticed that the Dow closed today at 10,066.6 (rounding up the 57 cents). I missed that one.

BloodWine
BloodWine
14 years ago
Reply to  Red Dragon Leo

I have an EW count that you need to see

BloodWine
BloodWine
14 years ago
Reply to  Red Dragon Leo

give me about 5 minutes and I think you'll like this

BloodWine
BloodWine
14 years ago
Reply to  Red Dragon Leo

http://www.screencast.com/t/ZDkxNzliM
sorry it took me so long to get back 🙂

Red Dragon Leo
14 years ago
Reply to  BloodWine

Blood,

I just seen your chart. I went to bed, and you must have posted it after that. I don't think this is P3 yet. But, I do think we are going lower by the end of the week. I see 988 spx being tagged before the end of the month. It's the 20ma on the monthly chart, and should provide a nice rally back from hitting it. That doesn't mean that it couldn't be pierced intraday and close on it or higher, as that is also possible.

BloodWine
BloodWine
14 years ago
Reply to  Red Dragon Leo

and you need to come back to the chatroom at night… we miss you

Red Dragon Leo
14 years ago
Reply to  BloodWine

Well, I see about that tomorrow night. How's that… Kinda of a family in there isn't it.

BloodWine
BloodWine
14 years ago
Reply to  Red Dragon Leo

look forward to seeing you… and yah… with our little brother missing 🙁

Rip Van Trader
Rip Van Trader
14 years ago

Red, earlier today when you said you were hoping for a gap opening tomorrow, I thought that was akin to betting that the next woman to walk into a room would have a mustache; possible, perhaps, but unlikely.

You may be onto something, however. Stocks advanced very little today for the decline in VIX that we had, perhaps indicating some noise in the averages.

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  Rip Van Trader

Guess we don't have that possibility anymore, barring an FM (a ****ing miracle).

Hope we get some kind of reaction rally so that you can get on board, Red. Or, you could buy some TZA to have a dog in the fight.

BloodWine
BloodWine
14 years ago

two words.. bear flag

wendel
wendel
14 years ago

Well just so you know… I sold SSO at 35.25 yesterday.

Didn't like the way it was free falling and Red's valid reasons for a free fall coming.

I'm in wait and see mode.

pezhead9000
14 years ago

timber, lookout below…Europe beaten down, SPY pre-market @ 104.94

bigbadwolfusa
bigbadwolfusa
14 years ago

Goooooood Moooornin all…rainy CA is still here for another day….boy red glad I listened to you….I am in your camp when it came to the charts lining up…I didn't get out yesterday still in and I still think we get close to 998…I will probably get out to day on the way down and take my little cut and be happy…

flipper
14 years ago

http://www.cnbc.com/id/37320650 Hey Red if you could send this to Anna, if she has not already seen it.. Gartman calls to jump into gold, and Whitney Tilson says more than Fast $ wanted him too..LOL! I guess Anna went all Pay site.. good for her tell her I wish her the best on her Gold trades.. 3 of 3 of 3 of wave 1 is on.. Dark, and yourself should do well, I am in 100% to the downside.. have a great day…

Anna
14 years ago
Reply to  flipper

Flipper babe, no Hob still free just got to Hotoptionbabe.com I miss you and thanks for the info!!~

bigbadwolfusa
bigbadwolfusa
14 years ago

ouch ouch ouch…early morning pain…we are going straight to the bottom this mornin…S3 is 105.30 and we are at 105.06 now…I think I'm safe in sayin going down eh…

bigbadwolfusa
bigbadwolfusa
14 years ago

Eh Moby…you out a bed yet…your going to miss the ride down….

bensjoyce
bensjoyce
14 years ago

I don't think the big drop will happen till a little later.

jobless claims thurs, what if they are bad, ie two weeks in a row!

ism manufacturing last tradingday of the month. High dollar and weakness overseas could means weak number.

these are two reasons for a tank

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  bensjoyce

FTSE plunged at their opening and is backtesting. They ought to be done about when we open and we will probably drop together in the first hour. I expect we will spend mid-day backtesting and plunge again late in the day.

Put and ETF prices may actually peak in the afternoon, higher than the actual bottom tomorrow which may be a relatively calm affair. That's what happened last time.

jimhobson
jimhobson
14 years ago

Futures are piling on. A gap up looks out of reality. Question is when to get in. At open ?? or do you wait for that pause.

I guess i will add a little at open and see where it goes. But this expected bounce is gone IMO.

DOW Theory did say a break below 10221 was it.

Earl of
Earl of
14 years ago

Carl’s morning call:

June S&P E-mini Futures: Today's range estimate is 1030-65. I expect a long lasting low to develop today or tomorrow. Once the low has been established I think the ES will begin a rally that will take it to 1300 and higher.

1036.75 – 1169.50 range last night (32.75 points)
1030-1065 estimate for today (30 points)
average actual range last 10 days has been 24.6 points

1044 currently, so estimate is -14 to +21 from here (a bit bullish)

monicadern
monicadern
14 years ago

i believe the next stop is diablos' 102.63 area or so. i will sell my puts in the 990s.

bigbadwolfusa
bigbadwolfusa
14 years ago
Reply to  monicadern

wrestling with S3 105.30 and not doing very well

monicadern
monicadern
14 years ago
Reply to  bigbadwolfusa

i am not worried. just needs a bunch of bulls to jump on before it can tank.

monicadern
monicadern
14 years ago

good morning all and a good morning it is!

bigbadwolfusa
bigbadwolfusa
14 years ago
Reply to  monicadern

mornin…whats your guess for today…all charts are back in line and macds are pointing down…maybe 103.50

monicadern
monicadern
14 years ago
Reply to  bigbadwolfusa

i have no idea big bad. all i can tell is that the next level of support from diablos and suns charts looks like around 102.63 or even slightly lower. whether it gets there today is anyone's guess but i would not be surprised if it did.

bigbadwolfusa
bigbadwolfusa
14 years ago
Reply to  monicadern

I was trying to setup suns charts and with what info there was I have next stop at 101.85…but I dont know if that is right…

monicadern
monicadern
14 years ago
Reply to  bigbadwolfusa

yes, diablos' also has a line around there but one at 102.63 as well and I don't actually know which one provides support (maybe ask him). Anyway, I will be curious to see if we hit those fake prints today or maybe on the way back up?

ashsail10
ashsail10
14 years ago
Reply to  monicadern

Yes the next stop is around 1016-1020 spx.

Diablos
Diablos
14 years ago

Some morning prints: http://screencast.com/t/NDNiMzc4

monicadern
monicadern
14 years ago
Reply to  Diablos

Thanks Diablos. Do you know what the volume was on those? Will be interesting to see when we reach them.

Diablos
Diablos
14 years ago
Reply to  monicadern
monicadern
monicadern
14 years ago
Reply to  Diablos

Thank you. You know who once said that volume should be 111 for fake prints. But I don't know if that is every time.

Diablos
Diablos
14 years ago
Reply to  monicadern

Yup. I'm not sure what to make of them all, some work like a charm, some don't.

monicadern
monicadern
14 years ago
Reply to  Diablos

just realized your fake print at 8:05 = 666 🙂

Red Dragon Leo
14 years ago

Gang,

I did see a fake print to 1072.00 last night, but I seriously doubt that we will even get close it for awhile. Maybe 1050.00, but that's about it. The bulls are trapped and want out. The market won't let them.

Before the end of the week I expect the 20 MA on the Monthly chart to be hit. Currently it's around 988 spx. I did get short this morning, although I was I would have done that yesterday.

But, this isn't “The Big One”, as that won't happen until later this year. When? Unknown right now, but I'll be more prepare for it when it finally does arrive.

So for now, it's just a waiting game…

Red Dragon Leo
14 years ago

FYI…

If you all remember my Sunday post where I mention a site called BAM Investors. Apparently, “Network Solutions” lost 100% of their email list of clients… just before this big sell off we are having.

I think you can put two and two together here, and say that “they” didn't want BAM Investors informing their clients of what is coming.

I doubt that this site will ever get that popular, and I hope it doesn't. For if it does… it might disappear one day. If so, make sure you all have my twitter, facebook, etc… feeds on your buddy list.

If that disappears…

well, you can figure that one out for yourself… can't you.

Go read the twitter feed at BAM Investor

http://twitter.com/baminvestor

monicadern
monicadern
14 years ago
Reply to  Red Dragon Leo

Does this BAM investor thing make you scared enough not to want to get long in the 990s? My issue is that if you listen to a bunch of people, you'll get a bunch of answers and so far, you know who has been 100% right. He said that as the market came down, everyone would panic while he was getting long.

Red Dragon Leo
14 years ago
Reply to  monicadern

No Monica,

I just don't want to get long because of the high vix, and how it will kill anyone with straight calls. Plus, there will be a lot of whipsaw action the first few days.

I may take a call spread, or just sit it out until the dust settles. There still is a small chance that the 20ma (about 988 spx) will fail and the market will continue down to the 875 spx level.

I would rather just sit in cash and watch…

monicadern
monicadern
14 years ago
Reply to  Red Dragon Leo

I'm not talking calls. I was going to start buying stocks. I guess I will stick to my plan of investing about 40% there and the rest lower. I have a whole list of stocks I have selected if you are interested although a monkey could probably pick stocks better than me!

AS2009
AS2009
14 years ago
Reply to  monicadern

Would be very interested 🙂 …

monicadern
monicadern
14 years ago
Reply to  AS2009

again, a monkey can pick stocks better than me but here you go:
ADM, JOYG, MON, MOS, PBR, QQQQ, RIMM, SLW, YZC, GE, FWLT, IYR, IWM, HGSI, HES, GENZ, FE, EXC, DOW, DO, DE, COP, CMI, CLF, CHRW, CAT, BBH, BAC, BA, AKAM, FWLT, F, GS

Diablos
Diablos
14 years ago
gcocks83
gcocks83
14 years ago
Reply to  Diablos

Nice Charts, Thanks.,

ashsail10
ashsail10
14 years ago
Reply to  Diablos

Thanks Diablos. How do you draw in tdameritrade? If I say advance charting I can draw only max 3 sma's or 3 ema's. Thanks again

Diablos
Diablos
14 years ago
Reply to  ashsail10
monicadern
monicadern
14 years ago
Reply to  Diablos

Thank you – I am thinking of signing up for it but they charge a lot for options, no? 1.75 a contract? Or do they peg their fees to whatever I have at Ameritrade?

Diablos
Diablos
14 years ago
Reply to  monicadern

I actually don't trade through them nor do i have an account funded. I filled out the required info to download their software.

monicadern
monicadern
14 years ago
Reply to  Diablos

NO WAY!! good to know.

Red Dragon Leo
14 years ago
Reply to  monicadern

TOS is good for low numbers of options, but after about 10 or so, you are better off with Ameritrade, as they charge .75 per contract past the first one of $10 bucks.

monicadern
monicadern
14 years ago
Reply to  Red Dragon Leo

Thats what I have found. Just surprised that Ameritrade has the lowest fees. They charge the most for margin but I am staying far far away from that anyway.

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  Diablos

Wow, that is excellent, Diablos.

I have to figure out how to use that part of the Ameritrade software. It's a bit incomprehensible.

monicadern
monicadern
14 years ago
Reply to  Diablos

What is the difference between the 102.58 and the 101.85 lines?

monicadern
monicadern
14 years ago
Reply to  Diablos

Awesome. Thank you.

AS2009
AS2009
14 years ago
Reply to  Diablos

Diablos – don't see anything – it says no picture available … can u share again pls ?

AS2009
AS2009
14 years ago
Reply to  Diablos

I get this msg … pls could you upload again ?

We're sorry! We were unable to locate the requested page.

Please check the URL you entered to make sure it is correct.

If you were looking for content owned by a Screencast.com user, please contact the content owner for more information.

gcocks83
gcocks83
14 years ago

Hi Red, When I open an attachment here it opens in this window. so I have to hit the back button to return and then scroll back down the site. I have noticed at other sites that when I open an attachment it opens a new window. then I a can just tab back and forth. Is that a setting on your side that can be change?

Red Dragon Leo
14 years ago
Reply to  gcocks83

It's called a “lightbox”, and it simple opens up over top of the website, and is closed by simply clicking on the image… anywhere on it.

You can still “right click”, and select “open in new window” or “open in new tab”, and view it that way.

gcocks83
gcocks83
14 years ago
Reply to  Red Dragon Leo

Red, Thanks,

Red Dragon Leo
14 years ago

The market is trying to make it up to the top trendline around 1070 spx. I don't know if it will make it there or not, but if so… it's a great spot to add more shorts.

http://stockcharts.com/def/servlet/Favorites.CS

monicadern
monicadern
14 years ago
Reply to  Red Dragon Leo

wish I could! sideways action kills my puts.

jimhobson
jimhobson
14 years ago
Reply to  Red Dragon Leo

I am looking. glad i did not add at open

monicadern
monicadern
14 years ago
Reply to  jimhobson

It doesn't matter. You either ride the waves or you don;t. Trying to time an entry is difficult. I would say Red is right though. I would get in at Diablos' print. 106.44 or 106.99. How do you guys like them apples? 106.99 = 666!! CUTE!

Red Dragon Leo
14 years ago

Gang,

The 15 minute chart is what's hold the market up for now. It is working off the oversold conditions from this morning. It's in positive territory now, and should roll back down into the close, causing more selling. Patience… 988 spx is highly likely to be tagged by this Friday.

newbear
newbear
14 years ago
Reply to  Red Dragon Leo

GL to us all red 🙂

Red Dragon Leo
14 years ago
Reply to  newbear

Yes NB…

I hope we all survive this market.

monicadern
monicadern
14 years ago
Reply to  Red Dragon Leo

Thanks Red! Let's all hold hands!

Rip Van Trader
Rip Van Trader
14 years ago

VIX making a cup and saucer on Yahoo 5 day chart:

http://finance.yahoo.com/echarts?s=^VIX+Interac…

Edit: That is cup and handle.

monicadern
monicadern
14 years ago
Reply to  Rip Van Trader

thanks rip – i had not noticed that and I am long vix calls. The volatility waning is hurting my puts and calls so i hope the formation works!

Red Dragon Leo
14 years ago
Reply to  monicadern

Monica,

I learned from Anna that you should stay out of VIX calls or puts. Something about the way they price them? She knows, but I can't explain it. She only does spreads on them. Just don't buy any of them straight out again.

monicadern
monicadern
14 years ago
Reply to  Red Dragon Leo

OK Red – thanks. Done well on them so far but I am sure she is right.

Red Dragon Leo
14 years ago
Reply to  monicadern

She knows her options, that's for sure. She can tell you about the delta, theta, vega, etc… which is over my head. Of course her style of trading is different then mine, but I've learn a lot from her on how to play options.

monicadern
monicadern
14 years ago
Reply to  Red Dragon Leo

Yep, she knows her stuff.

jimhobson
jimhobson
14 years ago
Reply to  Red Dragon Leo

Would that apply to vxx?

i have played that but you must pay attention.

Red Dragon Leo
14 years ago
Reply to  jimhobson

Yes, it applies to it too.

Rip Van Trader
Rip Van Trader
14 years ago
Reply to  monicadern

So much for wishful thinking.

newbear
newbear
14 years ago

GL to us all red 🙂

Red Dragon Leo
14 years ago

Blood,

I just seen your chart. I went to bed, and you must have posted it after that. I don't think this is P3 yet. But, I do think we are going lower by the end of the week. I see 988 spx being tagged before the end of the month. It's the 20ma on the monthly chart, and should provide a nice rally back from hitting it. That doesn't mean that it couldn't be pierced intraday and close on it or higher, as that is also possible.

Red Dragon Leo
14 years ago

She knows her options, that's for sure. She can tell you about the delta, theta, vega, etc… which is over my head. Of course her style of trading is different then mine, but I've learn a lot from her on how to play options.

monicadern
monicadern
14 years ago

I am hoping we get up to 106.99 and then tank into the close. May the force be with us 🙂

Red Dragon Leo
14 years ago
Reply to  monicadern

Almost there now… one more push, and that's all she wrote.

jimhobson
jimhobson
14 years ago
Reply to  monicadern

Just got your hit. Now we see??

jimhobson
jimhobson
14 years ago

Did the bulls grow some gonads??

monicadern
monicadern
14 years ago

getting mighty close. Hang onto your hats!

monicadern
monicadern
14 years ago

just hit it. lets see what happens

Red Dragon Leo
14 years ago

If they close the SPY today at 106.66, all hell is going to break loose tomorrow.

bigbadwolfusa
bigbadwolfusa
14 years ago
Reply to  Red Dragon Leo

all day and this is the best it gets….I'm in for a drop tomorrow…hourly is trying to turn but daily not moven

jimhobson
jimhobson
14 years ago
Reply to  Red Dragon Leo

Which way????

Red Dragon Leo
14 years ago
Reply to  jimhobson

We are going down Jim. We tagged 106.99, and we are now overbought on the 15 minute chart. We should sell off into the close and tomorrow too.

bigbadwolfusa
bigbadwolfusa
14 years ago
Reply to  jimhobson

we goto 100 or 101 tomorrow then up and that free advice right there

Anna
14 years ago

long for next few days been long from 105.50 area

Red Dragon Leo
14 years ago
Reply to  Anna

Good luck to both of us. 🙂

Anna
14 years ago
Reply to  Red Dragon Leo

you short ?????

Red Dragon Leo
14 years ago
Reply to  Anna

Yes, I'm expecting 988 spx by Friday. I know you're hedged, but still be careful. We have 106.99 spy as the fake print, and then more selling.

monicadern
monicadern
14 years ago
Reply to  Red Dragon Leo

red, i wouldn't be providing advice.

Anna
14 years ago
Reply to  monicadern

Don't worry i have too many mouths to feed and a will follow myself and make my own decisions, not buying into that again

monicadern
monicadern
14 years ago
Reply to  Anna

ok – i just don't want you guys to fight over something stupid. You do fine on your own so just listen to yourself.

Anna
14 years ago
Reply to  monicadern

that's it girl….never go against a woman's intuition!! LOL

SC
SC
14 years ago
Reply to  Anna

🙂 Bingo

Anna
14 years ago
Reply to  SC

that made me laugh out loud! hahahahah for 10min.

I went long @ 1047 today and looking around 1120=30 then new down move 🙂

SC
SC
14 years ago
Reply to  Anna

You are one of the best traders. You really should go pro and start a hedge fund.

Anna
14 years ago
Reply to  SC

aweeeeeeeeeeehhh shoot 🙂 blushing….

Red Dragon Leo
14 years ago
Reply to  Anna

Laughing at me huh… nice friend.

Anna
14 years ago
Reply to  Red Dragon Leo

no REd I was laughing at his comment about the Titantic! sheesh you have some issues I wasn't speaking of you at all!

Red Dragon Leo
14 years ago
Reply to  Anna

Ok then, I guess I interpreted it wrong… sorry.

Anna
14 years ago
Reply to  Red Dragon Leo

Sorry I am not with you ….Tomorrow should be higher..this is just a bit of overbought short 1/5 min…

Red Dragon Leo
14 years ago
Reply to  Anna

I understand. Still my friend I hope… Best of luck to both of us.

Anna
14 years ago
Reply to  Red Dragon Leo

Sure friends!! but never follow you again 🙂

Red Dragon Leo
14 years ago
Reply to  Anna

That's good. We'll just keep the market talk out of out conversation. I like friends better.

Anna
14 years ago
Reply to  Red Dragon Leo

you have to follow your own game plans and knowing options I can play both ways….VIX is telling us a higher day tomorrow I have a put spread on it 🙂

MobyDoc
MobyDoc
14 years ago
Reply to  Anna

cool,,, I new you couldnt be mad at the ole dog for long..:)

bigbadwolfusa
bigbadwolfusa
14 years ago
Reply to  MobyDoc

you just get up moby…missed u today

MobyDoc
MobyDoc
14 years ago
Reply to  bigbadwolfusa

been busy fixin people

monicadern
monicadern
14 years ago
Reply to  MobyDoc

oh doctor, why didn't I get that?! Can you fix me?!

MobyDoc
MobyDoc
14 years ago
Reply to  monicadern

bad back?

monicadern
monicadern
14 years ago
Reply to  MobyDoc

bad brain!

bigbadwolfusa
bigbadwolfusa
14 years ago
Reply to  MobyDoc

thats constructive…I been getting allot of your weather down here and have to say I am tired of it…give me my sun back…

Anna
14 years ago
Reply to  MobyDoc

nah 🙂 hahahahaha

bigbadwolfusa
bigbadwolfusa
14 years ago
Reply to  Red Dragon Leo

just looked at the daily and it looks allot like friday then look what happened….this stuff can make you crazy…

monicadern
monicadern
14 years ago

so far so good.

Red Dragon Leo
14 years ago

That's good. We'll just keep the market talk out of out conversation. I like friends better.

Anna
14 years ago

that's it girl….never go against a woman's intuition!! LOL

Anna
14 years ago

BTW target of 1120-30 for right shoulder then lower lows

jimhobson
jimhobson
14 years ago

Do not know where they got it together but that is some bounce.

Not sure I want to add into this yet. Normally i would but the bears got scared today.

Red Dragon Leo
14 years ago
Reply to  jimhobson

We are still in the falling channel, and overbought on the 15 minute chart now. The 60 is barely above the zero level and could roll over anytime. You already know the monthly, weekly, and daily charts are pointing down.

This is a bull trap… Tomorrow we will sell again.

monicadern
monicadern
14 years ago
Reply to  Red Dragon Leo

i'm with you red. Stick to your guns.

Anna
14 years ago
Reply to  Red Dragon Leo

I told you what I expect for 2 days and I am long from 1047 /es

Red Dragon Leo
14 years ago
Reply to  Anna

In my opinion, tomorrow will be another down day.

Anna
14 years ago
Reply to  Red Dragon Leo

Well we shall see eh?

monicadern
monicadern
14 years ago
Reply to  Anna

What if tomorrow starts up and winds up down? Then are you both right?!

Anna
14 years ago
Reply to  monicadern

there you go! 🙂 I do think we see 1100 or 1120

monicadern
monicadern
14 years ago
Reply to  Anna

hope not or my ass will be grass. but it is entirely possible!

Anna
14 years ago
Reply to  monicadern

no don't want that!! but remember if we do rally hard like I think the vix could go to 30 which will really sting on options so careful 🙂

monicadern
monicadern
14 years ago
Reply to  Anna

k – thanks for the warning anna.

Anna
14 years ago
Reply to  monicadern

Maybe buy a vix put spread to hedge yourself 🙂

monicadern
monicadern
14 years ago
Reply to  Anna

anna, I am stubborn as a mule and will pay the price if I need to.

Anna
14 years ago
Reply to  monicadern

heheheheheheh 🙂

Red Dragon Leo
14 years ago
Reply to  Anna

You know I'm not against you, as I have a longer time frame of trading in mind, and you might swing in and out intraday. So we both can make money with this. I'm rooting for you. 🙂

Anna
14 years ago
Reply to  Red Dragon Leo

longer term bearish but first right shoulder on inverse

bigbadwolfusa
bigbadwolfusa
14 years ago
Reply to  Red Dragon Leo

i agree so far…the hr i am tired of looking at up macd down macd so its right there….but I look at the effort to get here and bulls cant get this to PP so I still in the down camp…

monicadern
monicadern
14 years ago

well we busted through that print. Wonder if that's where the market will close instead.

Anna
14 years ago

next false print to 109.18

jimhobson
jimhobson
14 years ago

The vixes were the enemy today. there is no fear selling. It will be interesting to see the volume.

bigbadwolfusa
bigbadwolfusa
14 years ago
Reply to  jimhobson

I got 324.1 for today so far…red candle…yesterday 269

monicadern
monicadern
14 years ago
Reply to  bigbadwolfusa

on a cup and handle formation (as rip mentioned the VIX appears to be in), the handle should be lower volume than the cup and once it starts to break out of the handle, the volume should increase.

jimhobson
jimhobson
14 years ago

No i am hoping i do not get stopped out.

Anna
14 years ago

But remember to always be hedged

monicadern
monicadern
14 years ago

red – i think I might know where we close today 🙂

bigbadwolfusa
bigbadwolfusa
14 years ago
Reply to  monicadern

ok please tell…I say 107.08

monicadern
monicadern
14 years ago
Reply to  bigbadwolfusa

well I was going to say 106.99 but it doesn't look like it is happening.

bigbadwolfusa
bigbadwolfusa
14 years ago
Reply to  monicadern

here it comes….

bigbadwolfusa
bigbadwolfusa
14 years ago
Reply to  bigbadwolfusa

hahahaha…had the right numbers just the wrong order…

monicadern
monicadern
14 years ago
Reply to  bigbadwolfusa

ha ha! Just another day in paradise.

Anna
14 years ago

False print to 1.0927

monicadern
monicadern
14 years ago
Reply to  Anna

when?

Anna
14 years ago
Reply to  monicadern

those things are eerie eh?

monicadern
monicadern
14 years ago
Reply to  Anna

yes, but i told red that when the go through, I don't really believe in them. They have to stop and reverse at least close to the level.

Anna
14 years ago
Reply to  monicadern

I take them with my other indicators as a bundle 🙂

monicadern
monicadern
14 years ago
Reply to  Anna

yes, wise.

Red Dragon Leo
14 years ago
Reply to  Anna

I seen this last night, but I didn't believe it would be hit today. Keep you eyes open for one tonight…

http://reddragonleo.com/wp-content/uploads/2010

Red Dragon Leo
14 years ago
Reply to  Red Dragon Leo
ashsail10
ashsail10
14 years ago
Reply to  Red Dragon Leo

Thanks RDL. what is your target timeframe to reach 990's?

Red Dragon Leo
14 years ago
Reply to  ashsail10

This Friday…

ashsail10
ashsail10
14 years ago
Reply to  Red Dragon Leo

Thanks RDL. I didnt do any trades today, but the reversal looks very bullish to me.

ronwilker
ronwilker
14 years ago
Reply to  Red Dragon Leo

i'm hoping that the overall trend will take us there

Anna
14 years ago
Reply to  Red Dragon Leo

that was only a late fill there were a few of those, if the market has been there then you see that false print end of day then it's not a false print, only when the tape has not been near the false print. 😉

Anna
14 years ago
Reply to  monicadern

when did I get it? yesterday afternoon

monicadern
monicadern
14 years ago
Reply to  Anna

k. Thanks for the heads up/

Anna
14 years ago
Reply to  monicadern

anytime! 🙂

jimhobson
jimhobson
14 years ago

Anna may be right. Vixes are 6-7% down . have not been there in quite a while.

Anna
14 years ago
Reply to  jimhobson

🙂 a good sign of things to come

monicadern
monicadern
14 years ago

red, how are we looking on the charts? I am hoping this is our usual backtest of containment.

jimhobson
jimhobson
14 years ago
Reply to  monicadern

The chartists will be very interesting tonight. I cannot wait to hear chart trader

Red Dragon Leo
14 years ago
Reply to  monicadern

Very overbought on the 15, but the 60 could push up some tomorrow. Still in the channel though…

monicadern
monicadern
14 years ago

Wait a second – all we did at the close is fill the gap from this morning, no?

Earl of
Earl of
14 years ago

Carl at day’s end:

1030-1065 estimate for today (30 points)
1038.50–1073.75 actual range today (35.25 points )
Market was 8 points above Carl’s range.

For the past 10 days, average actual range is 25.7 points
Trades: No Trades (only one trade in the past 10 days)

Grade: C (lost no money)

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