AAPL down 3.1% to 504 on bad news.
/tf - up overnight but now -.22%
TASR, ZNGA, DDD, FB strong.
gold strong. /zb strong.
Gold stocks on daily charts look bullish.
nat gas very strong. Cold winter news.
amzn, goog, ma, ebay, red... risk off.
/tf - almost full rainbow to 874,50 - Fri's low. Now 876.2
/cl - long tail - takes out o/n low -- bounces sharply -- drops / rips -- just hunting stops... no other reason for movement but to hurt daytraders.
/tf 5 min. dragonfly candle at 9:15 - might be a low... 875.5
dragonfly -- good for 25 tick bounce at open.... ah... had to be willing to take a chance.
vix 2% advn-+330 mixed..... amzn - huge leader.
/tf -- clear triple top -- ideal short 879.9
-200 advn-decn -- very volatile.
/es - took out ystdy - lows stophunt -- could bounce.
/tf stronger than /es.
-200 advn-decn -- no reason to buy dip. vix 3% /zb strong.
/tf -- well -- dropped just below opening range low -- stophunt then sharp stophunt squeeze --
Today is a Responsive Trading Day -- have to anticipate switches... no trend.
advn-decn -130 : not much to go on. Algos will stophunt on low vol., no direction.
HAS -- dips to 10 day MA on daily chart at 36 -- curious if this is a bottom.
Mixed Signals = no trade.
short /tf - on consolidation pattern and break. advn-decn -200 - very tight range here. low conviction after testing high/lows in 1st hour.
/tf exactly unch. at 11:52 -- the opportunity was the first hour. No need to sit here all day -- you can't turn back time after a missed opp.
slow markets: switch to 5 min. candle -- See the sup/res. areas clearer -- and IGNORE CHOP
triple bottom TZA on 5 min chart: nice base for a run now.
pennant forming -- complete balance at 877.50
/tf breakout to upside -- here... or fake? hard to tell. Market Signals neutral/bearish.
/tf - now break to downside...
advn- -130 at 3 pm. Dell rumors woke things up -- still chop in the middle.
advn -230 sellers slightly stronger.
DECK strong end ofday.
Questions from Steenbarger:
How do you generate your best trade ideas?
* How do you manage risk most effectively?
* How do you manage positions most effectively to get the most out of trade ideas?
* How do you most effectively manage yourself and your emotions during trading?
* How do you prepare for market days most effectively?
* How do you best review markets and trading performance for optimal learning?