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Post by ukarlewitz on Feb 25, 2010 14:29:50 GMT -5
IT - short RTH (retailers) 95.75
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Post by Clinton SPX on Feb 25, 2010 14:31:07 GMT -5
Some cool shit today. I like how buyer kept spy from falling through support all morning and preventing bear flag from breaking out to the down side. Now buyer is trying to maintain the bull flag. I like watching them work.
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Post by ukarlewitz on Feb 25, 2010 14:48:55 GMT -5
There is an absolute mess of R near 110.5 now. We broke a trend line from 2/5. We have two pivot points, at 110.35 and 110.5. The 50hma at 110.45, the 5dma at 110.6 and Oscar's omni in there too. Get through there and the 50dma is 111 (failed 5 days in a row to cross through it).
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Post by maxi on Feb 25, 2010 14:49:33 GMT -5
Does the touch of 23.88 on UUP constitute a double top? And if so then what follows? Dollar going back down? It certainly seems so for intraday but would like input on future movement...
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Post by ukarlewitz on Feb 25, 2010 15:00:33 GMT -5
Does the touch of 23.88 on UUP constitute a double top? And if so then what follows? Dollar going back down? It certainly seems so for intraday but would like input on future movement... Right now, we have a single touch at 23.88. The hod today is 23.85. The IT guys think it revisits the 20dma (23.56). It seems to be trading along the 50hma very nicely, even after DX bearish Fed comments.
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Post by ukarlewitz on Feb 25, 2010 15:02:36 GMT -5
Carl:
I just sold my other long ES unit and am now flat. I do think the market's ability to move above 1095 on high volume is bullish - it makes the drop below 1090 look like a shakeout. But I prefer to play defense here because we have just seen a rally as big as the one from 1090.25 to 1105.50. And the subsequent drop from 1105.50 to 1084.50 did catch me by surprise.
If the ES can hold above 1090 the rest of today and early tomorrow I will try to get long again.
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Post by ukarlewitz on Feb 25, 2010 15:27:56 GMT -5
FSLR:
First Solar chairman Michael Ahearn sold more than 40% of his shares beginning Feb. 19, in a "clear signal" that he sees difficult times ahead for the company and the solar industry.
Spy - perfect two touch of the 110.5 pivot and the broken 2/5 trend line.
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Post by merrillstanley on Feb 25, 2010 15:45:03 GMT -5
Bank Of America (BAC) Mkt On Close Buy Imbalance: Shrs 16928500 Citigroup (C) Mkt On Close Sell Imbalance: Shrs 1637400 JPMorgan Chase (JPM) Mkt On Close Sell Imbalance: Shrs 278700 Morgan Stanley (MS) Mkt On Close Sell Imbalance: Shrs 89300 Wells Fargo (WFC) Mkt On Close Sell Imbalance: Shrs 344600
lunch was productive...always be concerned about sell imbalances on down days
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Post by abdogman on Feb 25, 2010 15:47:01 GMT -5
Take care folks....i am hating life at the moment....thx as usual
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Post by merrillstanley on Feb 25, 2010 15:47:57 GMT -5
kess, you have been karma'd. ty
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Post by merrillstanley on Feb 25, 2010 15:49:21 GMT -5
keep your woof up dog
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Post by ukarlewitz on Feb 25, 2010 15:51:49 GMT -5
Breadth almost neutral now. That's a big hole we just climbed out of. I will streak down the street naked if we close the week above 111.5.
Don't hate life Dog. You've been exalted.
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Post by ukarlewitz on Feb 25, 2010 15:53:52 GMT -5
What do you think MS? You missed one helluva a day. You've got fresh eyes.
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Post by ask2lern on Feb 25, 2010 16:09:01 GMT -5
FSLR: First Solar chairman Michael Ahearn sold more than 40% of his shares beginning Feb. 19, in a "clear signal" that he sees difficult times ahead for the company and the solar industry. Spy - perfect two touch of the 110.5 pivot and the broken 2/5 trend line. I saw this post on the FSLR board regarding Ahern's sales....thought it was pretty funny.............. "Look at it this way. Mr Ahearn wanted to diversify. Even though he has the best stock, it's smart to be diversified. Like Tiger Woods, even though he was nailing his hot wife Elin, he felt he needed to diversify into some hot and some not so hot, and see how it turned out? Likely Mr Ahearn will regret his decision as well." ;D ;D ;D ;D ;D
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Post by ukarlewitz on Feb 25, 2010 16:12:57 GMT -5
Here's today's tick (red/green candles are tick with right side scale; aqua line is Spy with left side scale; yellow line in tick ma; red line in lower panel is Trin): Here's my second grader's level analysis: After the opening sell off, with A/D strongly negative, tick was neutral. Buyers did not come in despite lower prices. That changed at 1230p with the first tick greater than 800. Leading up to 2p, we had monster buy programs, with a cluster of ticks 1100-1300; A/D improved markedly (confirmation). Normally, you'd have a sell off after a super spike in tick as buyers are depleted. Indeed, you'll see a small sell off of .25pts in Spy followed by 60 minutes of chop. However, from 3p on, price took off to new hods; each time tick >1000, a 10-20 minute sell/consolidation would follow, but lower prices were never confirmed (looking at the candles) and the improvement in A/D confirmed continued strong buying. We closed above those two pivots near 110.5, above the omni, the 5dma, the 50hma and the 2/5 trend line. We need to confirm that close tomorrow morning. But we formed a long hollow red candle today on the daily (open<close but below prior close). That's normally quite bullish for the next day. The 50dma at 111 will be tough.
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Post by merrillstanley on Feb 25, 2010 16:15:07 GMT -5
UK, I need to digest the data as I've only been back the past 30 mins...but my initial thoughts are these markets are beggin' to become bullish and run....the positives of late are the markets do not sell off in heavy volume and have been quite resilient in spite of the lower volume, the negatives are the markets run up in light trade and sell off any reason they get...i know i am presenting basic principles but the markets had every reason to drop twice their lows today and they didn't...but overall, you've gotta love this volatility
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Post by ukarlewitz on Feb 25, 2010 16:15:09 GMT -5
FSLR: First Solar chairman Michael Ahearn sold more than 40% of his shares beginning Feb. 19, in a "clear signal" that he sees difficult times ahead for the company and the solar industry. Spy - perfect two touch of the 110.5 pivot and the broken 2/5 trend line. I saw this post on the FSLR board regarding Ahern's sales....thought it was pretty funny.............. "Look at it this way. Mr Ahearn wanted to diversify. Even though he has the best stock, it's smart to be diversified. Like Tiger Woods, even though he was nailing his hot wife Elin, he felt he needed to diversify into some hot and some not so hot, and see how it turned out? Likely Mr Ahearn will regret his decision as well." ;D ;D ;D ;D ;D That is hilarious.
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Post by triggerhappy on Feb 25, 2010 16:32:35 GMT -5
Thank you UK for the tick explanation. We have different data but I should be able to calibrate it to yours.
Best
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Post by elle on Feb 25, 2010 17:41:35 GMT -5
Hi PPT, looks like you all must have had FUN today! The support was too concrete. Personally, I think it's a political trade, can't have the worlds markets crashing during a health care summit. For all the excitement, still inside Tuesday's candle and lower high.
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Post by ukarlewitz on Feb 25, 2010 18:45:19 GMT -5
Hi PPT, looks like you all must have had FUN today! The support was too concrete. Personally, I think it's a political trade, can have the worlds markets crashing during a health care summit. For all the excitement, still inside Tuesday's candle and lower high. Higher low in the DX too. Logic would say be bullish after a day like today. Therefore, be bearish. It's surprising how often this works. I'm making this all up.
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Post by elle on Feb 25, 2010 18:57:57 GMT -5
How can we trust you if you keep making stuff up?
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Post by elle on Feb 25, 2010 18:58:48 GMT -5
And how did you get so much Karma making stuff up?
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Post by ukarlewitz on Feb 25, 2010 19:22:52 GMT -5
How can we trust you if you keep making stuff up? I made up the part about making it up. It's a fact.*
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Post by abdogman on Feb 25, 2010 19:28:12 GMT -5
*70% of facts are made up
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Post by abdogman on Feb 25, 2010 19:33:43 GMT -5
and the room fell silent as did my trades goodnight
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lookingherethere
Broker/Dealer
"I am in me.." <In response to the possessed rumors>
Posts: 533
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Post by lookingherethere on Feb 26, 2010 0:16:10 GMT -5
Nice!
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