Thursday 6.5.14 1 17 Eastern Time Zone

Fluidity Trader Chat Room w/Cynthia E. - Thursday, June 5, 2014:
Thursday
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6.5.14
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7:30 *** Hello Fluidity Team Traders – Welcome! ***
7:30 *** DAILY TRADE TIP ***
***
The greatest barrier to success is the fear of failure.” ~ S.G. Eriksson
8:32 andy: gm
8:32 xRoads: ECB :)
8:35 andy: guess negative rates is good for markets, more risk... who needs to save money in a bank?...when you have
markets, there the same thing... lol
8:35 manny: L32.75 :)
8:36 manny: Filled +6ticks
8:36 mrandersen10: shorted 32 bad move so far
8:36 manny: 1934.50 Weekly R2
8:37 manny: Today we should see the upper trendline wedge resistance in SPX
8:37 mrandersen10: what's the level?
8:37 manny: 1935ish
8:38 mrandersen10: thx
8:38 andy: 10pt rip off lows
8:38 manny: I have 4 senarios for today
8:39 lendar79: cought nice /6e trade short
8:40 manny: 1. We gap up open trap bulls and sell off 2. We gap up open continue higher and most of the money is made
in the gap. 3. We gap down trap bears and rally the rest of the day. 4. We gap down and sell off and most the money is
made in the gap
8:40 lendar79: so ECB first has to crate US style securities and then buy them? lol
8:44 mrandersen10: out 29.75
8:44 manny: Nice. Here are my notes from homework.
8:44 manny: Monday saw a new ATH followed by in an inside day on Tuesday and a new ATH on Wednesday on below
avg volume poor structure and the Vix is coiled. The odds are also heavily hinting a min 2 day pullback.
P shaped profile, no new money buying, further weakening the overall picture.
Each P shape hints that there is a great deal of inventory long at bad prices. BOO! And they prob jump for the exits.
Any shorts are against the larger trend so should be initiated either with a look above/wedge for an asymmetric trade or a
break below pull back to go with trade.
8:46 manny: Each day the auction has gotten so "quiet"at ATH no new buyers no interested sellers. Market is waiting on
a catalyst.
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There is a ton of weak structure suggesting the break maybe to a larger degree a trend day that causes vol to expand.
Locks in a tumbler look for key areas to break on higher than avg vol once 1 or 2 ref go lookout
8:47 manny: Think we just got our catalyst. Today 'should; be fun
8:47 manny: 5pt pull back from that Weekly R2
8:48 manny: IWM/TF is also on a daily decending wedge resistance
8:48 xRoads: gj mrA
8:49 mrandersen10: thx sir
8:49 mrandersen10: gold movin
8:49 xRoads: yes noticed
8:51 andy: mechnical trade so far, higher lows holding so far
8:53 xRoads: Draghi is move needles all over
8:53 andy: wma holding auction above
8:53 xRoads: *moving
8:54 manny: The problem with all my bearish data points is that, and this one trumps them all. We are in a BULL
MARKET in an UP TREND. I tried shorting the market alot at the beginning of 2013, learned my lesson.
8:54 lendar79: /6e bouncing
8:55 andy: Draghi: "restoring sound public finance in the Euroarea" lol
8:56 Irish: GM all.
8:57 andy: gm
9:01 andy: below 27 area, longs are going to get pressed
9:01 lendar79: 7 years in the toilet and they still have to create tools to fix that lol
9:03 mrandersen10: nice irish, did u catch the long earlier?
9:03 niam: gm
9:09 Irish: yes, Mr A. I was long 25 and got out at 31.
9:11 jojo: gm all
9:14 Birdy: gm traders, congrats to all who made pts. this am
9:15 jojo: gm birdy
9:15 Birdy: Hi jojo
9:18 lendar79: GM lol
9:18 RMFJ: gm y'all
9:19 Irish: gap rules in play, small gap (<8pts) has better chance of being filled today.
9:21 Cynthia E: Good Morning Team!
9:21 Cynthia E: Welcome to Thursday!
9:21 Birdy: gm Cyn
9:21 andy: gm Cyn
9:22 manny: gn
9:22 manny: gm
9:22 Irish: GM Cyn!
9:23 Cynthia E: http://www.fluiditytrader.com/shared/Snagit25.png
See Chart on Next Page:
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9:23 Cynthia E: Overnight inventory is net long with price positioned to gap higher. Gap rules in force.
9:24 Cynthia E: Smaller gaps usually will fill, large gaps often are not filled for several days.
9:24 lendar79: $MSFT price target raised to $49
9:24 Cynthia E: If the gap fills and support is held, then value is developing higher and there are higher odds for a later
rally in the direction of the gap.
9:25 Cynthia E: If the gap is filled and price returns into the range, and value becomes unchanged - the more bearish
pressure is evident.
9:25 Cynthia E: We will be watching the strength of the fill relative to the rebalance of the overnight long inventory
9:26 Cynthia E: http://www.fluiditytrader.com/shared/Snagit26.png
See Chart on Next Page:
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9:26 Cynthia E: On 3600, we are bullish.
9:26 jojo: gm cyn
9:26 Cynthia E: Price is trending higher above the CL and the WMA is trending higher above the CL.
9:26 Cynthia E: The LT STO is in the strong bullish zone, and the ERG is above zero
9:27 Cynthia E: The ST STO and the ERG have been showing the retracement phase since the high was hit at 34.25.
9:27 Cynthia E: So as we monitor for the gap fill, we will continue to monitor the current retracement phase in progress.
9:27 Cynthia E: Just as an FYI ... nothing changes here in our "read" of the charts and the analysis.
9:28 Cynthia E: With the ECB news coming out this morning/today - it is easy to allow ourselves to be swept up in the
emotion or drama of "new news", but the charts remain pure for our purpose.
9:29 Cynthia E: If the news causes upward acceleration - then rule 1 will remain in effect. No shorts when price is
above CL.
9:29 Cynthia E: Price will break below the WMA FIRST, then get the CL BREAK / CL RETEST reversal pattern and so
on ...
9:30 Cynthia E: The biggest change is that news can just speed up the process and make our analysis need to be faster
9:30 Cynthia E: Layla
9:30 lendar79: /6e is bouncing back
9:30 Cynthia E: Let's roll
9:30 ctp: Flat +2.0
9:30 manny: Internals mixed
9:31 Cynthia E: *** Points Announcement ***
9:31 Cynthia E: Quickly just a note here as we open on reporting wins for SMILES!
9:31 Cynthia E: I know several here have started holding some trades overnight and are using more than one contract
(using scale in or scale out methods).
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9:32 RMFJ: first 3600 touch was to YH area and also intersected 3600 ascending trendline from YL
9:32 RMFJ: *low touch
9:32 Cynthia E: In order to earn SMILES, CRAZY smiles, and Gold Cups, and so on - points have to be EARNED
that day - on a round trip trade.
9:32 Cynthia E: So if you were holding a trade from yesterday and you close it out today for +3 - that does NOT
earn a SMILE.
9:32 Cynthia E: It has to be a trade taken TODAY.
9:32 xRoads: +1 in size
9:32 manny: ES only right?
9:33 Cynthia E: And if you are scaled into a trade on 10 contracts and you close it today for +10 - that is NOT a
Gold Cup for a +9 - to get a Gold Cup - you would have to get a +30 in a DAY TRADE TODAY. Because you only
count points on a PER CONTRACT basis.
9:33 Cynthia E: If you are holding 10 contracts then you have to get a +30 to get a +3!
9:34 Cynthia E: Corrent Manny - ES ONLY.
9:34 Irish: L 28.5
9:34 Cynthia E: If you are FLAT you should have a blue arrow, green arrow for long, and red arrow for short.
9:34 lendar79: aapl close to 650
9:34 Cynthia E: SMILE by your name means +3 PER CONTRACT on TODAY only.
9:35 Cynthia E: CRAZY smile means +6 PER CONTRACT TODAY
9:35 Cynthia E: GOLD CUP means +9 PER CONTRACT TODAY
9:35 Cynthia E: and MONEY CART means +20 PER CONTRACT TODAY!
9:35 manny: Ok I just had a down arrow but was short TF. Will keep it to ES only
9:35 jojo: l p 28.25
9:35 Cynthia E: Okay - that's clarified. I was getting a few questions on it from several folks! :)
9:35 RMFJ: gap was filled too
9:36 Cynthia E: Okay - back to the market
9:36 Cynthia E: The retracement phase has continued to progress - ERG down to zero line now, and still purple below
the signal line
9:38 jojo: out +.75
9:38 RMFJ: Long 28.5
9:39 xRoads: done for today and learning :)
9:39 RMFJ: -0.75
9:39 ctp: Cyn, does pre-market count? I have 2 trades since 8:00 this morning for +3
9:39 RMFJ: ERG never crossed signal line
9:40 Cynthia E: Yes pre-market - THIS MORNING trades do count - but you can't have opened them pre-close
yesterday
9:40 mrandersen10: WMA resisted
9:40 ctp: got it.
9:40 mrandersen10: poc here
9:40 Irish: out -2.25
9:40 jojo: sp26.75
9:40 Cynthia E: Thanks for asking CTP
9:41 lendar79: it looks like we will finallu get regular volume day
9:41 Cynthia E: Price attempted to rally upward - did NOT get the ONH, and is returning into the YH range
9:41 iDoc: sp2675
9:41 RMFJ: short 26
9:41 Cynthia E: The CL BREAK has occurred
9:41 xRoads: if it happens, extending yesterday's constricted upper distribution seems bullish as opposed to gapping
9:41 RMFJ: touched very prom poc
9:42 mrandersen10: 6E took back most of the drop
9:42 Cynthia E: Inventory from overnight moves into a forcing position at 1924, and yesterday net long inventory is
forced at 24.75 to 24
9:42 lendar79: /6e is an awesome trade so far
9:42 manny: S25.75
9:42 mrandersen10: r u long lendar?
9:42 mrandersen10: nvm that's implied
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9:43 lendar79: 1.3509 78.9 fib ret
9:43 manny: ugh horrible entry.
9:43 RMFJ: -1
9:43 RMFJ: getting whipsawed
9:43 Cynthia E: Yesterday's balance low holding so far as support
9:43 jojo: crap accident
9:43 jojo: out +.25
9:44 jojo: trying to adjust and got myself out lol
9:44 Cynthia E: As the CL RETEST attempts to form
9:44 jojo: sp 27.50
9:45 Cynthia E: Only the longs in the overnight spike (early morning spike) have been challenged here so far.
9:45 Cynthia E: Yesterday longs and the balance longs from overnight are still happy in their trade
9:46 jjflash: so you looking for ONL break
9:46 Cynthia E: 8:42 Cynthia E: Inventory from overnight moves into a forcing position at 1924, and yesterday net
long inventory is forced at 24.75 to 24
9:46 jjflash: YL even better
9:46 Cynthia E: I'm watching those key levels jj!
9:46 Cynthia E: I'm watching the distribution lows
9:47 Cynthia E: In coordination with 3600 signals and patterns
9:47 Irish: S 27.75
9:47 lendar79: $TLT back inside the channel
9:47 iDoc: -2.00
9:47 jojo: -.75
9:47 Cynthia E: Slow down the thinking team ... so far all we've seen is chop at the top of the range
9:48 lendar79: if aapl brakes above 650 next stop 657.5
9:48 Cynthia E: Just because its moving faster this morning doesn't mean there is a bigger hurry to get involved
9:50 Cynthia E: The turn for the CL RETEST short is trying to develop
9:50 Cynthia E: I'm watching the ST STO and ERG to see if they turn back lower
9:50 Cynthia E: Along with the KEY supports that need to break to FORCE long liquidations
9:50 Cynthia E: Right now we are still NET BULLISH!!!
9:51 Cynthia E: The POC held as suppport and we have moved back above the YH and value is building HIGHER internals are positive
9:51 Irish: out +.5
9:51 Cynthia E: CL and WMA have flattened here a bit on the chop
9:51 andy: early range targets 33.25/21.25
9:52 mrandersen10: wow 6E
9:52 lendar79: 500k /es so far:) we will have move today and my bet is lower:)
9:52 Cynthia E: YH being retested as support, exact touch there to the tick
9:52 mrandersen10: lendar adopt me please
9:52 lendar79: lol
9:54 jojo: cyn waiting for YH break below again?
9:54 jojo: if aligned with signal?
9:54 Cynthia E: Absolutely jojo
9:54 Irish: 7 min til C
9:54 Cynthia E: We will get the momentum we want if 24.75 to 24 is broken
9:54 jojo: thats ONL
9:54 jojo: not YH?
9:55 manny: whew.
9:55 Cynthia E: http://www.fluiditytrader.com/shared/Snagit27.png
See Chart on Next Page:
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9:55 Irish: L 25.75
9:56 Cynthia E: Take a look at that chart jojo
9:56 Cynthia E: Think about our INVENTORY imbalance lessons
9:56 Cynthia E: Okay - The CL RETEST short has triggered here at 1926
9:56 jojo: the gaps in histograms
9:56 jojo: sp 26.50
9:56 Cynthia E: No - the areas of the BALANCE lows
9:57 Cynthia E: The blue circle
9:57 Cynthia E: Here is the break lower
9:57 jojo: +2.5
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9:58 Cynthia E: So the SHORT could have been taken there on the CL RETEST signal - or now on a bounce IF the POC
/ HW starts to act as resistance ...
9:58 lendar79: if we take out 1912 vpoc I will say its bearish
9:58 Cynthia E: Well done jojo!
9:58 Irish: out + 1
9:58 jojo: so cyn, I took the 26.50 on a retrace after break of YH again while ERG was still purple, right?
9:59 Cynthia E: That move down was an exact test to the 3-day balance high at 24
9:59 jojo: and flattened one tick above ONL for sure fill?'
9:59 Cynthia E: As your target or entry jojo?
9:59 jojo: excuse me 2.25 pts
10:00 Cynthia E: Yes - good job jojo!
10:00 Cynthia E: Well done!
10:00 jojo: so correct?
10:00 Irish: S 26.75
10:00 jjflash: S 25.75, -0.75 moved to fast down and back up for me
10:01 Cynthia E: When I say "balance lows" in that blue circle the lines I am referring to are the "EFGHKLM" line at
24.75, and the "DEL" line at 24 even
10:01 Cynthia E: What I'm trying to reinforce here is that yesterday throughout the majority of the day - traders were
"net long"
10:01 lendar79: goog looks bullish
10:01 xRoads: if this value area holds this is about the avg 5-6 pt area the last 10ish days, mostly overlapping to higher
10:01 jojo: from the blue oval?
10:01 Cynthia E: For anyone that got into the long "late in the day" the BEST price they received was an entry of 1924
or higher!
10:02 Cynthia E: So a move BELOW that level will put all of those yesterday longs into a losing trade.
10:02 Cynthia E: Correct jojo.
10:02 Cynthia E: Until that happens (until 24 is broken) - all those longs are inclined to hold on in hopes of MORE
profit)
10:02 Cynthia E: But WE know from 3600 - that the chart is becoming more and more bearish
10:03 Cynthia E: That was a very nicely executed Cl RETEST short scalp jojo!
10:03 Irish: out +.25
10:03 jojo: ty
10:04 lendar79: thats true xroads:) but do we really want it to hold?
10:04 Cynthia E: C period is now trying to press lower to create a 1 TF DOWN start
10:04 xRoads: I am flat and done L
10:05 jojo: cyn I have 4 trades on fort.
10:05 jojo: done?
10:05 jojo: or restart?
10:05 jojo: thats for today
10:05 Cynthia E: 4 trades on what?
10:05 jojo: ES-fortitude
10:05 Cynthia E: The Fortitude Test is a MAX of 3 trades per day.
10:05 Cynthia E: What ever your point take is on those 3 trades is what you count
10:06 jojo: on the first 3? LOL
10:06 Cynthia E: And it is VERY important that you quit taking trades after your 3 trades are done - no "what if" trades
- that creates bad habits.
10:06 jojo: I get it
10:06 Cynthia E: yep - first 3
10:06 jojo: yup, got it
10:06 Cynthia E: ;)
10:07 Cynthia E: There was responsive buying at the first touch to 1924
10:07 RMFJ: long 25.50
10:07 Cynthia E: If 1924 is broken - target becomes YL at 16.75/16.50, 2nd target 1913.75
10:07 Cynthia E: 3600 trying to create a continuation short (must break 24 to get it)
10:08 RMFJ: -1
10:08 RMFJ: picked the wrong day to fade the move lower
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10:10 Cynthia E: Here is the break lower for the SHORT OPPORTUNITY
10:10 DJ: s 23.5
10:11 Irish: S 23.5
10:11 manny: Testy trade working now.
10:11 Cynthia E: we would now monitor 24.75 as the stop - we do not want price to re-enter yesterday's round
distribution part of the "P"
10:12 jojo: cyn if short from 23.50 (ONL) max stop DO?
10:12 jjflash: s 23.75
10:12 Cynthia E: Re-entry into the 3-day balance range ultimately targets the balance low at 13.75
10:12 lendar79: its still not panic selling
10:13 Cynthia E: I wouldn't let it go that far jojo - mental stop at 24.75
10:13 jojo: and then see print and flat button of 24.75?
10:13 Cynthia E: Right - watch price action around 24.75 to see if it is tested or broken and flat if broken
10:14 jojo: got it
10:14 lendar79: short $nflx 415 puts
10:14 lendar79: weeklys
10:14 Cynthia E: Understand everyone that even though a short is in the trend of the 3600 it is still counter-trend to the
DAILY.
10:14 jojo: now with new lows adjust stop to?
10:15 Cynthia E: We are NOT out of the 1 TF UP pattern until the KEY 1914 level clearly breaks. That is the level that
starts to motivate a lot more selling / profit taking
10:15 Cynthia E: No adjustments jojo
10:15 jojo: ok got it
10:16 Cynthia E: Just let the trade work!
10:16 manny: 1/2 off 21.75 VAL Stop b/e Trade will net +2pts.
10:16 manny: min
10:16 Cynthia E: Yeah! ^3 Birdy and Carol - well done!
10:16 Irish: out +2
10:17 lendar79: /6e resistance 200ma daily 1.3640
10:17 Carol: Thx
10:18 Cynthia E: Breadth and A/D have turned negative
10:18 Irish: Congrats Birdy and Carol
10:19 Birdy: thx
10:19 Irish: That's it for me today, Done trading +7.5
10:19 Carol: thx Irish
10:19 Carol: wtg Irish
10:19 Cynthia E: Whoo Hoo!!! Outstanding job Irish! :)
10:19 Cynthia E: Very nice
10:20 Cynthia E: You are on a roll this week - where are you for the week?
10:20 jojo: nice irish!
10:20 manny: Nice work Irish
10:20 RMFJ: great trading irish
10:20 Irish: thx Cyn, all
10:20 xRoads: nice, go team
10:20 Cynthia E: Price bouncing to retest ONL as resistance
10:21 jjflash: Out BE missed my +3 by 1 tic
10:21 Birdy: wtg Irish
10:21 Irish: +18.25 for the week
10:21 Irish: thx Cyn, all
10:21 Cynthia E: Way to go Irish! That's spectacular
10:22 lendar79: /6e rally
10:22 jjflash: frustrating
10:22 Cynthia E: Monitoring the test here at 24.75
10:22 Cynthia E: No harm in taking them off if you see the bounce jj.
10:22 Cynthia E: But even so ... it happens :)
10:24 Cynthia E: 5 mins till D period
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10:26 manny: Six-E. Right back to Pre-Draghi Highs.
10:27 lendar79: /6e tighten stop
10:27 Cynthia E: SHORTS would be out there now
10:28 manny: Stopped ES. B/E 2nd 1/2 trade net 2pts
10:28 xRoads: resist 26.25-27.5
10:28 mrandersen10: ugh everyday..
10:29 jojo: monitoring CL test cyn for re-enter short?
10:29 Cynthia E: 2 mins to D - price has rotated back into the balance range - value still overlapped to higher.
10:29 xRoads: support 22.25-23.5 on the 30min
10:29 Cynthia E: 3600 setting up for a "classic" short
10:29 Cynthia E: Yes jojo
10:30 jojo: can you limit around 27.50? or watch erg for signal?
10:31 Cynthia E: D period now retesting YH.
10:31 jojo: sorry for all the questions..lol
10:31 Cynthia E: An additional upside breakout would break the 1 TF DOWN started in C and potential target the ONH
for repair. Failure to break the C high will start to favor another downside auction.
10:32 manny: Andy nice low range target. :)
10:32 Cynthia E: Be more cautious now as we are 3 wide - and market is showing higher volatility balance
10:32 Cynthia E: Better to watch the turns jojo
10:32 andy: :)
10:33 jojo: turns price action? turns or ERG?
10:33 Cynthia E: Jojo - limits offer better price entry, but turns provide higher win/loss ratio. ERG turns
10:33 jojo: ok got it,,momentum...
10:33 Cynthia E: right
10:33 xRoads: FWIW dept, key is whether buyers accomplished what they have been after recently, if selling tail holds
maybe the auction is over?? (sell the news??)
10:33 jojo: provides higher wins
10:34 lendar79: out /6e
10:36 manny: S25.75
10:36 Cynthia E: Very possible x
10:37 Carol: Would it concern you that it happened overnight?
10:37 Cynthia E: Yes - I believe he means this morning's B period excess
10:37 mrandersen10: ES 1 hr 200ma 1921.75
10:37 Carol: gotcha
10:37 Cynthia E: Indeed the overnight tail requires repair - auctions rarely terminate on any time frame in the overnight
session
10:37 xRoads: yes
10:38 Cynthia E: :)
10:38 Carol: ok
10:38 Carol: thx
10:38 lendar79: so far ECB is a non event
10:38 xRoads: Dalton always talks about electronic highs being revisited, but I recall one recently that took weeks to be
revisisted
10:39 Carol: thx X
10:39 xRoads: not implying that will be the case here, just reminiscing :)
10:39 jojo: so going back to "repair" up to 34.25?
10:39 Cynthia E: Yes no doubt xRoads - I never expect automatically that overnight highs will get repaired in the next
day session - just that it becomes a data point that must be on our radar that needs to be repaired
10:39 Cynthia E: yes - that is what we are discussing jojo
10:39 Cynthia E: exactly
10:40 jojo: but not nec today?
10:40 Cynthia E: correct
10:41 Cynthia E: So in other words - it is totally possible for us to get the necessary larger profit taking move or long
liquidation to rebalance the past 10 days inventory and then for the market to start thinking about that ONH. Dalton's
"break before you rally" theory.
10:41 jojo: so this classic short setup at the CL, we totally have to watch the turn..
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10:41 Cynthia E: Or if we have strong enough buying - we can see repair today. Depends on directional confidence
10:41 mrandersen10: but CL is flat
10:42 Cynthia E: Yes - and it is NOT happening - we are now getting the CL BREAK long
10:42 Cynthia E: or trying
10:42 lendar79: they will buy this market
10:43 jojo: cyn break over DO or 29.75 to monitor for entry?
10:44 Cynthia E: The official Cl BREAK long just occurred; however, based on technicals - you'd want to see price
above 29 jojo
10:45 jojo: got it
10:46 Cynthia E: http://www.fluiditytrader.com/shared/Snagit28.png
10:47 Cynthia E: Here is the reason jojo
10:47 jojo: I see
10:47 jojo: R becomes supp around 29
10:47 jojo: and momentum can take over
10:47 Cynthia E: If you look at 3600 - there are "tails" on the candles that stick up over 29 - but the boxes of the candles
held 29 as resistance
10:48 Cynthia E: So to confirm the upward change - you'd want to see a bar CLOSE above that on the CL BREAK
10:48 Cynthia E: Does that make sense?
10:48 andy: y
10:48 jojo: yes makes sense
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10:48 Cynthia E: Otherwise - it is just a confirmation of 29 holding as resistance again - haha, as it just did! ;)
10:48 Cynthia E: See what I mean? :)
10:48 jojo: got it
10:48 jojo: yup yup
10:49 Rhemabound: bounce was to 61.8 ret from onh
10:49 andy: lower hi or higher low here
10:50 Cynthia E: Yes indeed andy ..
10:51 Cynthia E: By the way - any time you get an EQUAL high or low - that is considered FAILURE so if you are
looking for a higher high and you actually get an EQUAL high - that means you got a "lower hi"
10:51 andy: tuesday poc 1821- lod
10:51 Cynthia E: *high
10:52 jjflash: meaning 29 "coud be a failure on second attempt?
10:53 Cynthia E: Well it already was on that move to 29 (since the high was actually 29.50) - but yes, if we touch 29
again without posting 29.25 - that would also be failure.
10:53 Cynthia E: But I'm meaning in reference to technical analysis in general.
10:53 Cynthia E: ANY TIME you are looking for higher highs or lower lows and you get an EQUAL - it means you got
a FAILURE.
10:54 Cynthia E: You got a lower high or a higher low
10:57 Cynthia E: A lot of volume changing hands here this morning with very little price activity
10:57 Cynthia E: Volume about 2x the current weekly avg
10:57 DJ: just back, flat +.25 from s 2 23.5
10:57 lendar79: big money is thinking.... daily charts are overbought
10:58 andy: DAX back to lift off levels
10:59 Cynthia E: Now jojo - price found support at CL (which is really the key YH) and a potential CL RETEST long
with the break above the 29
11:00 andy: shorters cud get pressed here
11:02 andy: 841k minis better than it has recently been at 11 am et
11:03 Cynthia E: Value still overlapping to higher with a strong buying tail in C period off Tues's POC
11:03 jojo: just got back from break, yes see it cyn
11:04 jojo: still to monitor break over 29 for entry
11:04 jojo: 29.50
11:04 lendar79: 1933.5 next
11:06 manny: -3.25
11:06 jojo: should be entry right cyn?
11:07 Cynthia E: Here is the CL RETEST long entry (better entry would be pull back to YH level that holds as support
) .... as YH is the mental stop
11:08 Cynthia E: yes jojo
11:09 andy: not a great candle here on the highs so far 3600
11:09 Cynthia E: yikes!
11:09 Cynthia E: I hate to do this team - but I'm going to have to sign off a bit early today.
11:09 Cynthia E: We have a bad thunderstorm moving in and we are getting a lot of lightening.
11:10 niam: Thanks
11:10 Carol: be safe!
11:10 Cynthia E: I am going to have to shut down and unplug internet to protect from the storm.
11:10 Birdy: bye Cyn
11:10 Cynthia E: Thanks Carol
11:10 jojo: bye cyn!
11:10 jojo: first time ever u sign off before me..lol
11:10 Carol: bye Cyn
11:10 xRoads: thx
11:10 Cynthia E: On this long simply monitor the E period anomaly and the YH as support and monitor the current trend
move up off the CL toward the ONH target.
11:11 Cynthia E: Have a great day all! Bye!
11:11 jojo: got it!
11:12 iDoc: lp29.75
11:13 manny: tics
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11:17 jojo: bye everyone have a good day
11:17 Carol: bye jojo
11:18 jojo: bye carol
11:18 Birdy: bye jojo
11:20 manny: TE-EF!
11:20 andy: squeeze
11:20 manny: Long TF and ES. Busy morning
11:20 andy: BTFD lol
11:21 manny: Yea .. I got caught off sides on that short idea. Shorts dont pay.
11:22 Irish: Counter trend trades don't pay.
11:22 manny: Your right Irish.
11:22 Irish: for the most part.
11:22 manny: Sticking with the larger trend works for me
11:22 Irish: I'm still learning, its taking a long time. :)
11:23 andy: locals were short, covering here on run up
11:23 manny: Yea ... I had a bearish lean coming, something like 5-6 data points hinting down and I told myself could be
10 data points ... doesnt matter. The FACT is ITS A BULL MARKET IN AN UPTREND
11:24 manny: 1.5 hrs short ES for a loss of 3.5pts. Just made that back plus 2 in 25 minutes long TF
11:24 Rhemabound: the trend is your friend
11:25 mrandersen10: manny I was +9 on my short, wittled down to +2.25 b/c of stubbornness
11:25 xRoads: :)
11:25 mrandersen10: but im long now :)
11:26 lendar79: its "euphoria" last stage
11:26 manny: Good for you Mr A
11:26 xRoads: :)
11:27 manny: Flat TF here +8ES pts! BOOM!
11:27 mrandersen10: it was bit traumatizing lol
11:27 Carol: nice Manny
11:27 mrandersen10: nice one manny
11:28 manny: thanks.
11:28 Irish: gj manny
11:28 manny: TF when it goes. IT GOES!
11:29 manny: You have to scale on that one.
11:30 lendar79: short 1932.75
11:31 lendar79: goog 550:)))
11:32 manny: Jeez look at TF now +18 from my entry at 1130.50
11:32 manny: WOW
11:33 xRoads: agree L, I suspect this might be late to the party emotional trading today.
11:33 manny: Im going to be trading TF alot more this summer. Still figuring out proper risk parameters
11:34 andy: tics
11:34 lendar79: its not a big short just a brake for my few longs here
11:34 manny: yup Andy
11:35 xRoads: the market has gotten this long only a couple of times during this 10-12 day runup
11:35 manny: Today could be one of those days. We get multiple +1000tics
11:35 manny: I call them Machine gun tics
11:35 Irish: S 33.5
11:36 Irish: Thought I was done for the day, but taking this low risk opportunity I spotted before the open.
11:36 manny: House money
11:36 iDoc: out +3.00
11:36 Irish: nice iDoc
11:37 Carol: gj iDoc
11:37 manny: Me too flat +2.75
11:37 manny: *
11:37 manny: *3.25
11:38 Carol: ^3.25 Manny
11:38 iDoc: thanks, didnt get the fill for 33.75 would have been +4.00
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11:39 manny: Upper here. Plus S1L mid AM high
11:42 Rhemabound: rrreally nice on GOOG lendar - nnnnnice!
11:43 lendar79: 1/2 220% so far
11:43 Carol: wtg Lendar
11:43 andy: tics
11:44 andy: they had to have the high in RTH
11:45 lendar79: nice double top
11:46 lendar79: comparing to previous days breadth is strong +2:1
11:46 lendar79: volume adjusted not so much
11:48 andy: someone is puking up here
11:50 lendar79: long aapl 535 puts weeklys
11:53 andy: some are taking profits on this run up, trin uptrending
11:53 mrandersen10: any levels up here besides R3?
11:54 andy: r4 43.75
11:54 manny: Weekly R# 1953.25
11:54 mrandersen10: sry I mean btwn current price and R3
11:54 manny: ;0
11:55 andy: 2x IB 1837 prolly the high
11:55 andy: opps 1938*
11:58 manny: 2 min
12:00 andy: buy program
12:01 Rhemabound: very cool Lendar - options JUST ROCK - I feel like we know this huge secret that nobody knows ha!!
12:05 manny: 1500 tic?
12:05 Rhemabound: oh look - the market is going up. it knows one direction - should be simple. (why isn't it- ha!)
12:06 andy: 1060 here on ensign
12:08 manny: Watching 39.25 - 41.50 zone
12:08 manny: fibs so less reliable
12:15 manny: L1 VXM4 12.65
12:16 manny: Not a day trade.
12:21 lendar79: out goog 420%
12:21 Carol: nice trade Lendar
12:26 lendar79: that would be a good reversal signal if /es sells off: inverted hammer?
12:28 lendar79: 1938.57 is 138.2% fib ret
12:28 mrandersen10: what levels did u anchor to calc that?
12:30 lendar79: 2007 highs 2009 lows /es
12:32 mrandersen10: great thx
12:33 andy: boby bags for bears..lol
12:34 lendar79: closed /nq long
12:34 manny: :0
12:34 andy: failed auction here?
12:35 alice: gj manny
12:35 manny: thanks
12:35 Carol: papa, mama, and all the baby bears in hibernation
12:35 alice: nice ugly face Carol
12:36 Carol: wtg Manny
12:36 manny: Beaing bearish this tape and selling like throwing bullets at a tank.
12:36 Carol: Thx Alice
12:36 lendar79: be careful up here
12:37 mrandersen10: TF +2%
12:37 manny: :)
12:38 manny: Best day ever for me in that Future.
12:38 mrandersen10: congrats :)
12:38 alice: yes congrats
12:38 andy: every little dip bot
12:38 Carol: R3
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12:39 manny: Its feeding on itself
12:39 manny: Sellers get 2 ticks pull backs the BUY to cover and up it goes again.
12:39 mrandersen10: tastytrade crew on suicide watch
12:39 andy: ...or smart money knows somthing lol
12:39 manny: Tastytrade?
12:40 mrandersen10: ya the show that has steered everyone short...
12:40 Carol: Tom S ... short forever
12:41 manny: thats the killer right there
12:41 mrandersen10: since 1600s
12:41 Carol: LOL
12:41 lendar79: lol!
12:41 iDoc: 3R
12:42 lendar79: /es profile looks like magic wand:)
12:42 mrandersen10: was hoping we peek over 1840 to short
12:42 manny: we are "due' for a pull back lol
12:44 lendar79: yes we r due for pull back
12:48 andy: 19pt rip, counter auction levels gotta be around here
12:50 lendar79: 1935.75 brake bearish
12:51 manny: Problem here is all the trapped shorts. Weaker hands will start to buy them back on any approach of there
entry etc. The fuels higher highs. Longs and Short risk high
12:52 lendar79: thats possible
12:53 lendar79: but they will make more money dumping market right here
12:53 lendar79: Q2 is terrible for money managers so far
12:56 andy: momo names like Draghi, AMZN + 5.69%
12:56 manny: Non Farm Payroll anyone?
12:56 manny: LOL gap and crap?
12:57 lendar79: lol I havent heard that one before!
13:00 lendar79: I think any positive NFP numbers will be fine
13:02 xRoads: covering short puts off bottom here
13:03 xRoads: I got the message, no reporting options on smiley billboard :)
13:04 andy: reversal hammer on /zb back in TLT calls, took a stop this morning
13:05 lendar79: looks like europe is buying US bond with higher yld
13:06 manny: Why post the exit if your didnt post the entry?
13:07 mrandersen10: sina
13:07 mrandersen10: sry wrong window
13:08 andy: thinking same lendar, cud be a change in sentiment
13:09 lendar79: or bonds are just misleading
13:09 manny: yep German yeilds are what >2
13:10 manny: France 1.ish
13:10 xRoads: marketwatchdotcomslashstoryslashsecs-white-unveils-sweeping-markets-proposals-2014-06-05
13:10 manny: 2.5% is frothy compared to those
13:10 xRoads: addressing mounting concerns about the impact of computer-driven trading on the stock market
13:11 xRoads: ludites :)
13:16 lendar79: I have no idea what to do with euro $FXE and /6e
13:25 lendar79: seat belt on:)
13:29 manny: Dec 31st Highs to Mar 7 highs ascending trendline almost touched.
13:32 manny: Wonder if what the OI was on SPY puts.
13:32 manny: Weeklys
13:42 lendar79: aapl I know u want to fall:)
13:43 lendar79: /es I know u want to fall too:)
13:46 Rhemabound: lol
13:53 mrandersen10: euro
13:54 Rhemabound: well - there's your euro Lendar
13:54 mrandersen10: short squeeze?
13:55 lendar79: /es should fallow /6e
13:55 lendar79: looks like more upside
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13:57 Rhemabound: the propagational delay (time between the time the input reaches the output) ha - big word I
learned in my Electronics schooling days
13:58 Rhemabound: /6e a bit hesitant here - stalling the process for ES up - ha
13:58 lendar79: /6e target 1.3715 another fib level
14:04 Rhemabound: ES says 'let's just go' it'll catch up
14:11 manny: POC shift
14:12 manny: Got the one test against the trend.
14:12 Rhemabound: /6e should get a penalty for encroachment
14:12 manny: In theory should test highs now
14:12 manny: we'll see
14:17 Rhemabound: floor rumbles
14:23 Rhemabound: Jaws music plays - lol
14:25 manny: 1941.25
14:26 alice: manny is that your tgt?
14:26 manny: y but I dont want to dip into H much. failed auction potential
14:27 alice: thxs
14:27 manny: Stop b/e 37.75
14:28 alice: same here
14:29 manny: gl
14:29 manny: :)
14:29 alice: & u
14:35 Rhemabound: Skippy awful frisky - just made hod - hope it pulls up your ES
14:35 manny: kippy/
14:35 manny: *ski[[y
14:35 manny: Skipply?
14:35 manny: lol
14:36 Rhemabound: oh - sorrry - TF - that thing usually hops around faster than the others - my nickname for it - lol
14:37 manny: :) I was long that as well. Covered 1 tick above HOD.
14:38 lendar79: /6e failled upside too
14:38 manny: Somedays I just cant get on the right side of things. Today wasnt that day. :)
14:39 manny: flat ES
14:56 lendar79: boo hoo
15:00 Rhemabound: I suppose we have the employment boogie man on deck
15:01 lendar79: wait we rally higher because david tapper said he is no longer consern about selloff?
15:01 Carol: I heard that
15:02 lendar79: WTF?
15:04 andy: TBB= Tepper buy button lol
15:04 lendar79: lol
15:05 lendar79: and they say that market has mind of its own lol
15:06 andy: lol
15:06 Rhemabound: the mkt has an identity problem
15:06 lendar79: im telling you there is always someone to communicate wallstreet next move:)
15:07 manny: LOL
15:07 manny: All we need now is a Carl Ichan tweet. Im long the S&P 500. LOL
15:09 andy: SPY 200 NDX 5000
15:09 manny: lol
15:09 andy: /nq
15:10 manny: Come on .... are you going to tell me that if you had a position you wouldnt go on CNBC or whatever and
say something to help youself....
15:10 manny: I know I would say anything to hurt it
15:11 andy: yeah, they talk their book and have orders all ready in...
15:13 andy: don't fade the riggers, follow the move lol
15:14 manny: yup
15:14 manny: say I get on CNBC and I know us in this room are long, think im going to say something to hurt us.
puuuulease
15:15 Rhemabound: c'mon Ergy - how bout a little smooch! LT STO - where's that powwwer???
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15:16 lendar79: ringsers like carl ichan start getting FBI and SEC on their backs:)
15:16 manny: Think VIX is on sale here.
15:16 manny: SEC? whats that?
15:16 manny: Supporting the Exchange Commission?
15:16 andy: we don't make the ground rules, we just have to follow them
15:16 lendar79: lol
15:18 lendar79: took profit short terms qqq and spy
15:19 manny: First VIX future trade for me in like a year.
15:21 manny: Not sure with NFP and all
15:21 lendar79: bought 192 spy puts next week expiry
15:23 lendar79: closing $msft trade
15:25 lendar79: randy5 thx for $UA trade idea
15:27 Randyr5: yw
15:27 Randyr5: thanks for making the /es go down by selling MSFT
15:29 lendar79: lol
15:47 xRoads: I suspect that that poison pen piece on ZNGA was a favor flush longs and let the shorts start covering
15:47 xRoads: *favor to flush
15:50 manny: Adios
15:50 lendar79: im staying away from znga
15:51 xRoads: :)
16:00 xRoads: nite
16:00 alice: nite all
16:01 Rhemabound: g'nite all - another big shewww tomorrow :)
End of Chat Roll for Thursday, June 5, 2014
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