Ultimate Death Cross

[pondman]

Ultimate Death Cross

Anyone got an interpretation? Looks bad, real bad.

[sammy the sage]

We going DOWN...unless of course the Fed helicopter's another 500 billion or a trillion...then it'll stabilize for a bit...

[Dave Schwartz]

Have you not heard: "The private sector is doing fine."

[sammy the sage]

http://www.marketwatch.com/story/weak-retail-in-june-raises-back-to-school-stakes-2012-07-16?siteid=rss&rss=1

[PaceAdvantage]

If a majority of people believe we are going down, then it must be time to load up on the buy end. Lift the offer with all you've got! :jump:

[sammy the sage]

If a majority of people believe we are going down, then it must be time to load up on the buy end. Lift the offer with all you've got! :jump:

Let us know...when Bernake says PRINT...til then...it's Titanic time...

[iceknight]

If a majority of people believe we are going down, then it must be time to load up on the buy end. Lift the offer with all you've got! :jump: Just on the index or do u load up on specific picks?

[JBmadera]

I went long a number of tech stocks this a.m. on the washout: IBM, MSFT, INFA, FIO plus a couple of others. These are swing trades. Also been scalping /CL and /GC.

Now I need to handicap SAR......:jump:

[PaceAdvantage]

Let us know...when Bernake says PRINT...til then...it's Titanic time...It's rarely that easy...even with today's drop thus far, we're at 12668 on the DOW...

[PaceAdvantage]

Just on the index or do u load up on specific picks?I currently trade the ES only, and my trades last anywhere from a few hours to a few days (the longer they last, the better I'm doing).

My last complete trade I shorted at around 6am Friday morning and covered this morning at around 3:20am...then I shorted again around 8am this morning and that trade is still open...I'm still working for a living, so take what I say with a grain of salt... :lol:

But in general, what I meant by my prior post, is that if EVERYONE (and that must include your average Joe on the street who knows little to nothing about the market) is talking BUY or SELL, one tends to do very well running the other way...

[Valuist]

Hope nobody was long Chipolte (CMG) last week. Stock was down nearly $90 on Friday alone.

[sammy the sage]

Well actually Bossman...this market IS rigged/corrupt...w/Gov.'t/Feds intervention...since 2009...of course it's OPENLY blatant...

And I got out...

I'll tell a quick story...I had a life changing SHORT in position...not enough to wipe me out mind you...but enough to set me for life...

I was paying for the earliest "13" filings....and low and behold...BlackRock in ONE day Accumilated 5% equity in just ABOUT every MAJOR stock being traded...

I knew I was screwed...and sure enough...next day...Bail-out/free money announced by Bernanke....and BOOM...

This market has NOTHING to DO w/fundamentals..nothing..it's robots and insiders...and the upper 1% printing an EXTRA billion shares if they feel like lining their pockets MORE...

so Bossman...I do ADMIRE the fact that your still doing well...your a smarter man than I... :ThmbUp:...keep it up...just be VERY careful.

[newtothegame]

Sammy, I would say in some part, you're right. But Mike is definitely on target with what he mentioned. It's a proven fact that somewhere around 80% of all people lose money in the markets. So, with that in mind, what he said is correct. Find out where the masses are going, and head the other way!

[PaceAdvantage]

My last complete trade I shorted at around 6am Friday morning and covered this morning at around 3:20am...then I shorted again around 8am this morning and that trade is still open...I'm still working for a living, so take what I say with a grain of salt... :lol:Stopped out for a 3.5 pt loss on that last trade, which sucked because it moved a LOT in my direction but reversed around 10:30am, and the melt up the rest of day was a slow, agonizing death... :lol:

I am currently flat.

[Tape Reader]

My last complete trade I shorted at around 6am Friday morning and covered this morning at around 3:20am...then I shorted again around 8am this morning and that trade is still open.

You either don't get much sleep or you are using a robot. Is TradeStation that reliable?

[Saratoga_Mike]

Stopped out for a 3.5 pt loss on that last trade, which sucked because it moved a LOT in my direction but reversed around 10:30am, and the melt up the rest of day was a slow, agonizing death... :lol:

I am currently flat.

I always wondered why you're posts would hit at all hours--I get it: you're trading. You must only need a couple hours sleep--wish I could say that.

[PaceAdvantage]

Update...took another 3.5pt loss when I shorted yesterday morning at 5:25am and got stopped out at 9:23am.

Then shorted again at 10:42am and am still holding onto that trade...currently up around 12pts.

And to answer recent questions, no I don't get as much sleep as I should (I try and get at least 5 hrs a night...lol) and yes this is all automated using TradeStation.

[lamboguy]

i just noticed that Spain has temporarily banned short selling. probably the rest of europe to follow.

looks like massive deflation in the cards down the road. i hate it when the regulator's try to control the markets, it never works out good.

http://www.bloomberg.com/news/2012-07-23/spain-italy-ban-short-selling-of-stocks-to-slow-market-turmoil.html

the 10 year treasury yield looks like its heading to 1.22%. a smart government here can use that to a big advantage.

China is mining 350 tons of gold a year on their land, largest in the world. and they go out on the open market and buy the stuff systematically so they don't push the price up. i don't think that manipulating the price of gold to keep it down is going to work out so good either in the long run for our country. there are all types of crazy things going on now due to an election that takes place in november.

[RaceBookJoe]

Update...took another 3.5pt loss when I shorted yesterday morning at 5:25am and got stopped out at 9:23am.

Then shorted again at 10:42am and am still holding onto that trade...currently up around 12pts.

And to answer recent questions, no I don't get as much sleep as I should (I try and get at least 5 hrs a night...lol) and yes this is all automated using TradeStation.

I just switched to TradeStation a month ago, love it.

[PaceAdvantage]

Then shorted again at 10:42am and am still holding onto that trade...currently up around 12pts.Would you believe I'm STILL in this trade...but giving points back at an agonizingly slow and steady pace...lol

Currently up only 2pts...lmao

This one looks like it's going to get stopped out in the next few hours, or maybe even sooner...

[JBmadera]

Lately it seems like the best time frame to trade the /ES, /TF or /NQ is mid session globex to US cash open, all the days fireworks have been happening in the middle of the night (for US based traders): taking the /ES long here at 29.50 and I think we see a spike back to 37

[JBmadera]

Lately it seems like the best time frame to trade the /ES, /TF or /NQ is mid session globex to US cash open, all the days fireworks have been happening in the middle of the night (for US based traders): taking the /ES long here at 29.50 and I think we see a spike back to 37

wow, that was fast 1/2 off at 37, stop up to breakeven....I love a free roll!

[JBmadera]

wow, that was fast 1/2 off at 37, stop up to breakeven....I love a free roll!

1/4 off at 40.50, down to a runner, stop to 38.

[JBmadera]

stop to 47, now time for a ride

[lamboguy]

gold might be about ready to end it consolidation now. the consolidation has been a huge one lasting over a year now. that would suggest a major upward move,

[JBmadera]

stop to 47, now time for a ride

stop to 50, this is unreal.

picked the wrong day to stop trading the /CL, look at that monster run!

[PaceAdvantage]

Would you believe I'm STILL in this trade...but giving points back at an agonizingly slow and steady pace...lol

Currently up only 2pts...lmao

This one looks like it's going to get stopped out in the next few hours, or maybe even sooner...I got stopped out about 3 hours later...

Then took a losing buy at 8:07 stopped out at 11:45
Then shorted at 12:39 only to be stopped out at 13:26
Then finally had a 20pt winner long from 14:44 until Friday afternoon at 12:33
Followed that up with a losing long at 15:45 that stopped out only nine minutes later.

All of my losses are of the 3.5pt variety...went into the weekend flat and am still waiting on the next trade.

[PaceAdvantage]

If a majority of people believe we are going down, then it must be time to load up on the buy end. Lift the offer with all you've got! :jump:Almost 100 points higher on the S&P since I typed this on July 19.

[RaceBookJoe]

Almost 100 points higher on the S&P since I typed this on July 19.

Nice call :ThmbUp: