Heres some charts. 1st on is bullish for the week. So is the time cycle chart.
NASDAQ tanking might affect SIrius, as it is high off its support of the 13 and 50 DMA's. Just keep an eye on the NASDAQ.
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Heres some charts. 1st on is bullish for the week. So is the time cycle chart.
NASDAQ tanking might affect SIrius, as it is high off its support of the 13 and 50 DMA's. Just keep an eye on the NASDAQ.
Here is a 7 day cycle time study chart. Notice the circled areas and the price reaction to them.
This one compares time and volume. The lines above the volume indicate length of unusually high volume. Also shows some nice support as well, medium term too.
Thanks for putting these up . . I'll take a look . .
Hey Relmoor. Appreciate your efforts. I think of all the posters your take is very valid, as you yourself have said that the stock has changed it's patterns since CC. And if I recall you mentioned that it threw you off for a time. However, you are back on target. I am no chartist Relmoor, but I see some nice things that you have pointed out. The futures appear to be down currently for the Nasdaq. However, we'll see how it all plays out. Thanks again.
Thanks for your thoughts. Yes, trading since the CC has been much better. And if you notice the overall trading trend began when UBSS and MWSE showed up as players on level 2. CINN and ISEG arent having the run of the place like they used too. And if they could drop it, they would. They didnt need a reason. Now they have some MM's that are buying almost every whole cent, on a daily basis.Quote:
Originally Posted by socalrunningfool
China finally dumped, SSEC down 6.72%...
E-mini's pulling back now
That's a pennant with a pole (or a flag with a pole). Let's see who is really a trader as some claim here to be... is it bullish or bearish?... why ?Quote:
Originally Posted by relmor2003
Markets are about to get cranked. The bears are going to make the buy and hold crowd test their fortitude. I hope the general investor remembers that March 6th was the low and we have done nothing but climb ever since. Markets don't work that way, up and down they go. This market is so over cooked its scary. I was calling for down 6300 before dow 9000, I was very wrong on that one....does not really matter when your holding all cash. I started a position in BAC, XLF, C on Friday only to hedge my short positions, FXP, DOG, FAZ. I fully understand I am chasing the tape on those plays, the first three. Five years out BAC, C, F will be fine but in the short run I have a hunch I will be dollar cost averaging on those plays. I also sold my last 5k of siri on Friday for .7c. I am waiting on the pull back or a market crash...call it what ever you want. We will see the .5 handle again, don't get it twisted there is still an enormous short interest out there, but I do agree with Obone, Relmor, this stock is trading different and the shorts are not in control anymore. I believe the big short squeeze has not happened yet, that will be the payday with this pig, not .55-.77 in a week....that is free cash to any takers. GLA. Shave all positions with a gain or be the ahole left holding the bag. I have a hunch wall street is going to make main street remember this game is for the pros and you can and will lose principal.
Big Ben the Bear!
Is anyone watching these markets? It getting pretty crazy out there. Apple, FCX, NYX, RIMM, XTO, BP, BAC....all down 1-3% premarket....I not a rocket scientist but I think profit takers are heading for the exits. ? For anyone who watches Asian markets....lead story on yahoo is 6% hit for Chinas main index...my graph is not showing that..2% hit. FYI my watch list has 32 stocks and all 5 leaders on nice volume are shorts of China, Banks, DOW and S&P. I need to check SIRI level II, whats going on there?
This open should get interesing I would keep my hands off until 9:45, MMs can really mess with stocks on the open. GLA
I do not see how at this point the market will retrace 50%. However, I will begin to worry if the market retraces 25% without a blink. I am hedged but I am bullish skewed.Quote:
Originally Posted by Big Ben
I know the answer. Your a fag with NO pole.Quote:
Originally Posted by Siriusowner
Evidently you do not know the answer.Quote:
Originally Posted by relmor2003
BTW, if I am a fag, most likely you are one too.
O dude Im sorry. I thought you were just being an obnoxious twit, did you have a question for me? Sorry about that.Quote:
Originally Posted by Siriusowner
Instead of going long FAZ when you think the market is heading down, short FAS, and vice versa - you'll generally fare better, same for the rest of the leverged funds.Quote:
Originally Posted by Big Ben
Que?Quote:
Originally Posted by Dr. Dave
Que?
Are you out there Relmor, in Relmor land? I have not looked at anything but CNBC and FBC, while I was brushing, does not look good in the futures any thoughts on SIRI...I sold out last week .77 and .7..I am looking to enter but I feel the whole shebang is slipping.
Big Ben
Well, I never claimed to be a trader so I don't have a lot of knowledge regarding chart patterns and things like that. However, from what I've read, this looks like a bullish pennant to me. The pole was formed on good volume followed by some consolidation on some weaker volume. This should indicate another move up in the short term. I'd appreciate any constructive comments from those more knowledgeable on this stuff that I. Always looking to learn moreQuote:
Originally Posted by Siriusowner
You got it as far as I'm concerned, pretty much all I do is pattern/TA trade - I do little to no DD other than that. I got a tip on SIRI when it was $4. I didn't take any trades, until I was alerted by an email to take a more recent look in april, played the same pattern and sold at 0.62, then saw a bunch of other bullish patterns, so I got back in right after that... but I take support and resistance more important than patterns, and patterns more important than indicators... so even though the pattern is bullish today, it sits on multiple forms of resistance... so if I did not have a position, there is no way I would start a new one *today*, based on that pattern.Quote:
Originally Posted by toxdoc
LOL, my car battery is dead, gotta go take care of it, the explanations are a little lengthy. There are two reasons not to mess with these funds, and one holds water on why to go short, and the other may too. I discussed the second point with a pro trader on his blog, though he didn't respond to my comments, just the others, so if I find the link before my ride comes, I'll post it.Quote:
Originally Posted by relmor2003
Also - for a day trade or 1-3 day position, long or short doesn't really matter, its when your horizon is a few weeks plus, then I'd rather go short. I pretty much quit playing these a while back before I looked into shorting these, but I may take another look. Actually, there is a third reason too on some of these ETFs (not necessarily double leveraged) and that's dilution - or the effect they have on the underlying - like those tracking commodities like UNG.
I'll be back later, and of course, it's just my opinion.