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Post by merrillstanley on Feb 24, 2010 15:17:27 GMT -5
Following an hour-long standstill, the Dollar Index has trimmed some more of its loss, such that it is now down just 0.1% for the session. The dollar had been down 0.7% at its session low.
The greenback's improved position has caused stocks to pull back to an afternoon low. Though the S&P 500 has found technical support at the psychologically significant 1100 line, the materials has fallen to a fresh session low to trade with a 0.6% loss.
While materials stocks have struggled in recent action, commodities have managed to move higher in the face of the dollar's upturn. In turn, the CRB Commodity Index is up 0.9% to a fresh session high. DJ30 +67.87 NASDAQ +17.61 SP500 +7.52 NASDAQ Adv/Vol/Dec 1549/1.58 bln/1061 NYSE Adv/Vol/Dec 2052/664 mln/963
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Post by ukarlewitz on Feb 24, 2010 15:18:34 GMT -5
here's my tick screen. In the top panel, the red/green bars is the 3m tick. The Aqua line on top of it is the Spy. The yellow line is the tick ma. Ignore the green line. The lowest panel in Trin. Ignore the middle panel. You can see that tick has had nearly 4 +1200 ticks today and nearly 3 -800 ticks. Overall, very bullish. The morning dump with a -800 tick was a buy and you can see the aqua line (spy) moved higher to the near hod as a result. The 4th +1200 tick exhausted buying and the market then sold off. That selling more or less ceased when the tick double hit -800. The ma (yellow) is now near the zero line after getting into the 300s during the day.
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Post by ukarlewitz on Feb 24, 2010 15:20:33 GMT -5
With regrets, I'm off to a meeting. Have a good close. I'll be baaack later.
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Post by merrillstanley on Feb 24, 2010 15:21:39 GMT -5
TY UK!!!! exalted once more
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Post by abdogman on Feb 24, 2010 15:26:35 GMT -5
and again by me UK
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Post by jack on Feb 24, 2010 15:30:05 GMT -5
Uka,
(4)(+1200) ticks > (3)(-800) ticks by 2X...so THAT's what tells you its "Overall, very bullish", right?
Thx
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Post by elle on Feb 24, 2010 15:32:56 GMT -5
SPiGs coming on double bottom, but all the sloshing around crushed SRS, was hoping for low 76's, but may have to wait until tomorrow,
Later, boys and girls, hope there's some action last :30
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Post by abdogman on Feb 24, 2010 15:34:46 GMT -5
bye ellle and I too like ur new PIC
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Post by elle on Feb 24, 2010 15:36:46 GMT -5
ps, taking an overnite short uyg if gets to hod
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Post by merrillstanley on Feb 24, 2010 15:44:09 GMT -5
Bank Of America (BAC) Mkt On Close Buy Imbalance: Shrs 829900 Morgan Stanley (MS) Mkt On Close Buy Imbalance: Shrs 60800 Wells Fargo (WFC) Mkt On Close Buy Imbalance: Shrs 672200
holding FAS overnite, 10% of d/t port
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Post by merrillstanley on Feb 24, 2010 15:54:38 GMT -5
engulfing pattern on spy, S&P A:D 1:10, horrible, lighter vol, but no a sell off, up day??? very mixed not holding fas now, in cash, start over tomorrow
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Post by abdogman on Feb 24, 2010 16:00:54 GMT -5
Merrill..i hear you on Start over tomorrow.....you were sure loquacious in a very helpful way today....
Thx all see ya tmrw
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Post by merrillstanley on Feb 24, 2010 16:38:06 GMT -5
Dog I'm exalting you, for using a word I needed to look up...so in kind, i have in traded less frequency for bigger moves...meaning i have more time on my hands
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Post by ukarlewitz on Feb 24, 2010 17:26:00 GMT -5
Uka, (4)(+1200) ticks > (3)(-800) ticks by 2X...so THAT's what tells you its "Overall, very bullish", right? Thx Good question. I'm posting on tick in the selfish hope that a few take an interest and start to follow it more closely. There is a lot of value and maybe more eyes will get that value out. In general, look at how tick range is trading over the course of the day by looking at the highs and lows. Today, for example, there were very ticks below -700 and most of the troughs were more like -400. Peaks in the +900 range with several over +1200. Use the following as your guide: >1000 Over bought 500-800 Mega bull 200-700 Bull -300 to +200 Mixed/neutral -700 to -200 Bear -800 to -500 Mega bear <-1000 Over sold What was interesting yesterday was that we were never once over sold; it was persistent selling. Usual for a big down day. Today, we got a few pull backs but not much given the big pos ticks. This said that it was a strong uptrend as over bought led ultimately to more buying. Always cross check with other indicators and I think breadth is a good compliment. On a neutral A/D day, +/- 1000 ticks will lead to retracements. These are great intraday trades. On a strong A/D day like today and yesterday, the +/- 1000 ticks confirm a trend. This is one trick in interpreting tick.
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Post by abdogman on Feb 24, 2010 17:35:46 GMT -5
Dog I'm exalting you, for using a word I needed to look up...so in kind, i have in traded less frequency for bigger moves...meaning i have more time on my hands I left right after the close and just got back here to see what was up......merrill you are a funny man. We will do more of this as time goes on
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Post by jack on Feb 24, 2010 17:40:07 GMT -5
here's my tick screen. In the top panel, the red/green bars is the 3m tick. The Aqua line on top of it is the Spy. The yellow line is the tick ma. Ignore the green line. The lowest panel in Trin. Ignore the middle panel. You can see that tick has had nearly 4 +1200 ticks today and nearly 3 -800 ticks. Overall, very bullish. The morning dump with a -800 tick was a buy and you can see the aqua line (spy) moved higher to the near hod as a result. The 4th +1200 tick exhausted buying and the market then sold off. That selling more or less ceased when the tick double hit -800. The ma (yellow) is now near the zero line after getting into the 300s during the day. Cos, This and Uk's follow up to my question about reading the tick should be placed in the FME's STICKY Indicators section PLEASE. Thx
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Post by jack on Feb 24, 2010 17:43:21 GMT -5
Uka, (4)(+1200) ticks > (3)(-800) ticks by 2X...so THAT's what tells you its "Overall, very bullish", right? Thx Good question. I'm posting on tick in the selfish hope that a few take an interest and start to follow it more closely. There is a lot of value and maybe more eyes will get that value out. In general, look at how tick range is trading over the course of the day by looking at the highs and lows. Today, for example, there were very ticks below -700 and most of the troughs were more like -400. Peaks in the +900 range with several over +1200. Use the following as your guide: >1000 Over bought 500-800 Mega bull 200-700 Bull -300 to +200 Mixed/neutral -700 to -200 Bear -800 to -500 Mega bear <-1000 Over sold What was interesting yesterday was that we were never once over sold; it was persistent selling. Usual for a big down day. Today, we got a few pull backs but not much given the big pos ticks. This said that it was a strong uptrend as over bought led ultimately to more buying. Always cross check with other indicators and I think breadth is a good compliment. On a neutral A/D day, +/- 1000 ticks will lead to retracements. These are great intraday trades. On a strong A/D day like today and yesterday, the +/- 1000 ticks confirm a trend. This is one trick in interpreting tick. Cos, Here's the other one Cos, This and Uk's earlier note about reading the tick should be placed in the FME's STICKY Indicators section PLEASE. Thx
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Post by abdogman on Feb 24, 2010 17:44:19 GMT -5
here's my tick screen. In the top panel, the red/green bars is the 3m tick. The Aqua line on top of it is the Spy. The yellow line is the tick ma. Ignore the green line. The lowest panel in Trin. Ignore the middle panel. You can see that tick has had nearly 4 +1200 ticks today and nearly 3 -800 ticks. Overall, very bullish. The morning dump with a -800 tick was a buy and you can see the aqua line (spy) moved higher to the near hod as a result. The 4th +1200 tick exhausted buying and the market then sold off. That selling more or less ceased when the tick double hit -800. The ma (yellow) is now near the zero line after getting into the 300s during the day. Cos, This and Uk's follow up to my question about reading the tick should be placed in the FME's STICKY Indicators section PLEASE. Thx I second that emotion
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Post by jack on Feb 24, 2010 17:47:09 GMT -5
Uka,
I'm throwing over some good karma to you for "Sustained Superior Performance in Trying to Make This Dumb Ba-tard Smarter."
Thanks
;D
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