Tuesday, February 12, 2013

Feb 12

6:42 - /cl takes out major resistance area -- attempting a short at 97.3 -  stopped out once for 10t already --this time waited for TL break with 5 min chart after two longtailed candles -- need to see some kind of exhaustion pattern before a short can hold.

Nikkei up almost 2%

/es and tf muted and /gc is weak --- /cl may retrace.

I think the best way to buy /cl is breakouts out of multi-hour pennants/flags -- /cl plays by a different set of rules -- sometimes it can trend for days --- there's just no fading sup/resistance with confidence.

With stocks - keeping my universe to those over $15, with high volume, and elminating names with volatile, jerky charts (GNC, etc.) -- helps me spend less time by auto-eliminating many stocks -- and only gravitating toward the fastest movers.

/cl --  -21 ticks total trying to short...   waste of time.  There's no resistance.

/tf -- up to 913 -  new highs comign?   resistance (for now)

/cl - 97.80 touch -- POWERing.

/tf -- entry should have been at b/o of wedge.  

/tf - new highs - 4th test -- so possibly can keep going...

If you are a serious trader you should not be using the words "fun" "boring" or "easy".   - Random thought.

/cl - bottomed at 8:30 am ystdy.  If this tops out at 8:30 today -- it'd be ... less than surprising. Good observation someone on my screens noted.

INVN - looks poised.
KORS, CP, ASGN, DECK -- strongish.

so - gapping up to new highs at the open -- shorts either getting a perfect entry here or gonna get skewered in a trend up day or half day. 

/zb spikes
/tf - retraces off highs...  good entry - responsively shorting in that hit.

/cl -  highest vol. candle is big and RED. 

/cl - rebounding now ... consolidating phase.

much like bodybuilding -- less is more.  If you overtrain, overtrade, you make less muscle/profit.  You pick your spots -- hit it hard,,, then do NOTHING -- you make the most gains.  You can't make more money in a swing trade by micromanaging it... anything else you do.. taking partials... etc. diminishes returns. 

I keep deleteing the 'intellectuals' from my Twitter stream.  They don't help me learn.  The tweets on price action -- brainless chart reading/observations -- are the most helpful.

internals fine...

/tf  914.4 --  boom - -ppl getting tricked on the squiggles -- big picture is way too strong

XHB, XLF, TAN, and GDX -- strong.

AD  500
UD - strengthing

/tf  915

XHB - fresh b/o  - could swing higher -- leading.

/tf - there is resistance here now...   so shorting is a very poor game until we know what's what.

/tf -- 916 -- told you.

XHB  2.4% -- man - LISTEN -- this is not shortable.  It's OBVIOUS at least that shorting is wrong. 

test of  high  ( now support)

internals support push.

AD  630 - supporting new highs...

UD - nhod.

AD 700   e

/cl -- BREAK  of wedge - bearish.  11:25 --  this is the entry to take.

/cl backtesting the wedge break....   willl it really fail?

/cl -- grinding back up - longest backtest ever.

/tf - triple top -- grinding --

Internals too strong to drop.

AD  715
UD nhod

fake drop... /tf   

AD  750  nhod.

/tf not rising yet...    

/tf -- this sounds crazy but we could see 920 today  -- 12:34

/cl - double top and TL break on PUKE candle -- holding SCO for swing. 


UVOL_DVOL nhod  --
AD 847

We can rip into close.


1) Daily Chart in uptrend
2) Market Signals strong

3) therefore: we should be looking LONG on dips only.

AD fading
tick red
/zb - double bottom turning up at 3:04

There's no way you could have called the top in tf, right?  Oh wait, yes you could.

TL -- patterns are always there.

Uvol-Dvol - nhod -- where's the rip?

AD 784 -- plenty of power.

internals say /tf closes at highs...

338: bear signal

tf - balanced 916ish.

DMND -- 68 fib -- retrace -- bullish over 20 day -- risk 1 point.

UV - nhod -- don't SHORT!!!!


GDX - closing strong.

No comments: