Comments on: Intraday Commentary ~ 11/03/2009

By: carlye

carlye — Sat, 14 Nov 2009 23:00:01 +0000

Formulate and stamp indelibly on your mind a mental picture of yourself as succeeding. Hold this picture tenaciously. Never permit it to fade. Your mind will seek to develop the picture…Do not build up obstacles in your imagination.

By: arcticfire

arcticfire — Wed, 04 Nov 2009 05:20:59 +0000

Well just got home for the day job. I see that the dollar decided to fall a bit more then I had anticipated. Looks like instead of just a back test of the short term EUR/USD 61.8% fib , we are going to back test the long term bullish trend line that was broken.

A recovery of this trend line tonight would force me to unwind my position. I am not overly worried about this atm because so far all we have gotten today was a bounce off the bottom of the bearish channel which I expected (just not quite this strong of a bounce).

I still favor a move down in the EUR/USD to the long term 38.2% fib 1.42742 area. That is the alignment of a couple massive fibs which would provide excellent support for a bounce. It would also coincide nicely with a move to the 1020 area of the spx I believe. This is what I have been playing for and this is what I will continue to wait for. When we get there then , I will reverse to bearish on the dollar and move from FAZ->FAS (well maybe UYG will have to decide at that point).

By: 7eleven

7eleven — Wed, 04 Nov 2009 03:48:09 +0000

wasn’t finished….. Next bubble to pop will likely be the bonds. Strong upmove in TMV in the recent days. Today it really wanted to run. Looking forward to more and mores speculation regarding rising interest rates.

By: 7eleven

7eleven — Wed, 04 Nov 2009 03:46:52 +0000

I am not shorting a hyperinflated stock market with lots of worthless bonds sitting on the sidelines just waiting to move into equities or precious metals. We are going to have a blast in gold to 1150 and silver to 19. imho 7 I believe dow and S&P will remain flat with slide upwards pressure due to falling dollars. Next bubble t

By: pete

pete — Wed, 04 Nov 2009 03:43:30 +0000

Idan, SP500 final 20 minut go up, and do you still belive SP500 will retest 1020 – 1025 tomorrow? only based on support and resist or if you have other bases to support your belief?

By: zee

zee — Wed, 04 Nov 2009 03:13:58 +0000

Google ‘Black–Scholes’ if you are interested in how options are priced.
The most important factors are time until expiration and volatility..

Pick up some option books & read investopedia.com..

How do you apply TA to options? You apply it it to share price. What you do is say you see 170$ is strong resistance on GS.
Therefore you think GS is going up to 175$. What you do is buy 175$ GS calls..

By: zee

zee — Wed, 04 Nov 2009 03:08:36 +0000

He means the stock price.

By: woo

woo — Wed, 04 Nov 2009 01:55:17 +0000

currently mainly use stockcharts.com and have their real time service for stocks. also use think or swim and occasionally glance at zecco, but don’t really like zecco very much.

i don’t know if i have the time to actually put on tutorials with my day job taking up most of my time as it is….and maybe after 1 too many tutorials i won’t be needed anymore hahaha!

like you said, the big money leads the market. majority of traders are market riders, not market movers. glad what i wrote made sense to you and you see the pattern too Palladin. it’s not something that i use to make my trades with, but i’ll use it in support of conclusions made based on other TA. good luck with your trades!

By: Anjali

Anjali — Wed, 04 Nov 2009 01:35:59 +0000

Fritz – can you elaborate on these buy and sell signals … what timeframes / setting do you use and what do you count as oversold and very sold ?

TIA …

By: gunsgutsgold

gunsgutsgold — Wed, 04 Nov 2009 01:32:36 +0000

Hmm. those that sold the news (or shorted) EMS today on e/r were very wrong. Wow what a turnaround. 16% red to 7% green

STEC tanking more in AH on e/r and guidance.That knife is razor sharp.