Scooter

Retest on DRYS inverse head and shoulders.... if the retest is caused by the CC - does that still make it a retest, and good time to get in? Or does that bode not so well for the stock

Jeff,

It's telling me "We're sorry, this video is no longer available."

Andrea

Hey Jeff, long time still didn't load. It says "the video is no longer available"

Would you mind doing a segment on how to build watch lists like you do?

Gild
Is this breaking out of the sym. triangle?

Hans
same question.

I bought few calls of CMED couple of days back when it broke out. It has gone down yesterday and today. Any comments?

Oops, sorry, conference call....

Does anybody think we're on making higher lows on the indices? Is anybody playing an anticipatory bounce off the lower end of sym triangle on the indices?

Jeff,

I read your comment. Thanks for the heads up, but the video is not taking a long time to load. It's just not loading at all.

Andrea

Under the link on left titled "trading videos" it loads no problem.

Ahh, stepinvest. Thanks. It does work from that location.

Andrea

The S&P is down ~10pts and the VIX is also down??? I would appreciate anyone’s input on this. Does it possibly have anything to do with options expiration today? I know that the 2 don’t always move in an inverse relationship but it just seems to me that the S&P down 10 pts would translate to at least a slight rise in the VIX, no?

- Not options expiration related. They roll the options that makeup the vix so the last week of expiration decay does not impact the vix. More likely the theta, time decay of the three day weekend and / or low volume less movement.

ownputs,

Today is also VIX options expiry. Could have something to do with it.

Berkshire

I missed the last half of your post.

My next best thought is that the market is not volatile today. It is moving slowly lower and that doesn't seem to be bugging anyone.

Berkshire

Jeff:

Thanks for the daytrading video. Do you know of a platform that does backtesting? I know TOS is looking at implementing backtesting but I don't see it ready for a bit longer.

This may seem like a silly question, but how is swing/short/long term trading defined? Is swing trading a few days vs. a few weeks as a short term trader vs. a few months+ for long term folks? Always been curious about how folks define those terms.

Also, market indicators are definitely a plus. Not all of your indicators need to be on one chart, correct? I'm currently using the Shadowtrader breadth setup on TOS which includes a 6 box TOS chart setup with the NYSE/Naz A/D and Vol lines plus 15m TRINs for both. I could only imagine a chart being too cluttered adding breadth indicators on there hah!

Jorge,
Where is this TOS breadth chart you speak of?

Loads just fine for me.

Sam,

CMED Still good in my books, just a typical retest of the b/o.

Ownputs, this is from the blog 'daily option report'

"First off, if I could impart one piece of options knowledge it's that the VIX is not a perfect representation of *real* volatility. It gets cheaper ahead of holiday weekend's as traders lower bids to offset the extra time decay. It gets cheaper post-expiration as the most common position is a buy write, and those "written" calls are often rolled just before or just after expiration.

March futures in the VIX have close to a $2 premium right now, so that's a better tell for volatility expectations. That is, the VIX is a smidge understated right now, and will likely correct "up" next week. "

Anyone think this market will go green by the close?

How do all you trading veterans organize/use your "My Chart Styles" and "My Studies" in prophet/TOS charts? Feedback on post in Discussion forum much appreciated. Thanks! :)

Poundcake:

On Shadowtrader.net there's an archived video on how to set up market breadth on TOS charts. In summary, they set up a 3 row, 2 column TOS matrix, place the NYSE indicators (Volume, A/D, TRIN) in the first column and the Naz on the second with appropriate time scales. I've used that after watching their setup video and, disregarding any emotional trades, I've done fairly well in trading SPYs and DIAs with it.

Jeff,

What do you suggest for plays like USG where the trendline is severing through the guts of the candle or even could be considered closing below the trendline, but the volume is damn near non-existent?

Jeff thanks for the video.
OwnPuts, Berkshire, Nate - Thank you.

Thanks Jodi

thanks for the video. Have a great weekend.

Ben,

No.

Berkshire

CCJ has angered me.

Berkshire

I got 5:1 from a fellow trader. He's a black cloud, S&P is going green!

shooooo.......nice video....a simple man has no place in that pool

Sorry Ben,

The market I follow is the DOW.

Berkshire

And It will not be going green...

At the very least it will be an inter-market divergence.

Berkshire

Neither will the NQ btw.

Berkshire

I don't know about green, but to me it looks like the S and P futures broke out of a descending triangle earlier today and retested, then are now taking off.

Bershire,

Why dont you follow the S&P. The DOW only follows 30 stocks. The S&P follows 500 and would seem to me to be a better across the board indicator of the market?

JTK,

Thanks for asking. As far as breadth goes, the SP500 is probably the best gauge (though I could certainly argue that perhaps the Russell 3000 would give an even better picture).

However, as far as traders go, the majority follow the SP. As far as people go, the majority follow the Dow.

Have you asked your non-traded friends what the SP is doing. The may be able to tell you if the Dow went up or down, but most that I know have not heard of the SP.

Therefore, my argument is the Dow is the more influential market (not best measure of breadth).

Not to mention, SP is heavily loaded with banks, so I question how clear of a picture it paints.

Nonetheless, those are my thoughts. Contrarian, not doubt, but that's me.

Thanks.

Berkshire

Jeff,
Can you call me on my cell phone and walk me through my technical issues with you tube?

Oh and Jojo try not you use unapproved acronyms on the Blog.

Cheers,
Arty

Though my total view, is that they are all inter-related and essentially move in-sync.

Realisticly, watching INTC should be the best indicator since it is on NQ, SP, and Dow. No?

Berkshire

Arnold

I may have used an unapproved acronym, (my bad), but if you check closely, the comments of today, I was also told I had a Great question. One clearly cancels out the other....ending the day even - unlike my account.

Jeff,
you ever use the Parabolic Stop and reversal indicator?

And thank for the Vid! Awesome as always.

Cheers,
Arty

Berkshire,

I am a trader so I follow the S&P. I dont pay attention to what people around the water cooler talk about because they dont know shit ( At least, my friends/ co-workers dont). As far as the Russell 3000, the only problem I see with that would be that they are small cap stocks and dont have as much impact as the S&P stocks do. Finally, I would argue that the financials are a great reason to follow the S&P because they are major leaders as to which way the market goes. IMO

Raimo,
Was that you selling out of your USG positions just a minute ago?

Cheers,
Arty

I'm really surprised the market isn't down harder today. Maybe expiry has something to do with keeping it up and nearly flat.

Will watch video after the close. Thanks!

JTK,

I appreciate your opinion. I believe that the stupid people at the water cooler sometimes have a lot more to do with the markets than one might imagine. I am not saying they know what they are doing, but they certainly affect it.

Otherwise all the subprime would not have impacted us. The people at the water-cooler are the people that give the valuation. We, the traders, are only a very small % of the $ floating through the indexes. The buy and holders have much more invested and more to lose.

I think that the market's are moved by psychology, which creates events, which create reactions, which the news reports upon. Therefore I want to follow the largest gauge of that sentiment, which is the non-trading world public.

This is why I use the Dow as my primary. Not that I don't watch the others.

Thanks.

Berkshire

Yes, I know I could use something more complex, like the Value-Line, or some of the European Indexes also.

Berkshire

Jorge,
Thanks.