wrecked him Posted January 6, 2003 Report Share Posted January 6, 2003 Slinger Don't concentrate on the green and red lines. Rather concentrate on the black line which gives you the overall trend. ie(trendless) Link to comment Share on other sites More sharing options...
BAREister Posted January 6, 2003 Report Share Posted January 6, 2003 Well, laddies and lASSES LOLOL, MERLIN sez we're goin' DOWN startin' tomorrow. Hard. Thru week's end. Which shall prevail, your TA and the bullish calls here, or his ASStrology/neural networks? Link to comment Share on other sites More sharing options...
wrecked him Posted January 6, 2003 Report Share Posted January 6, 2003 Addendum to my first note When the black ADX line moves up 20, that is the real trend Link to comment Share on other sites More sharing options...
slinger Posted January 6, 2003 Report Share Posted January 6, 2003 Thanks Wrecked Him, I will look into it more thoroughly. I've never really paid attention to the black ADX line before, but I will see if it helps me figure out the trend better. One more tool to add to the TA Toolbox. Also, never rely on just one indicator. Have at least 2 indicators and 3 is even better. Merlin didn't do too well last week, called for the DOW to tank all week and didn't call for the huge upmove towards the end of the week. I tend to lean to the TA indicators and Doc's cmaps as my trading tools, but Merlin is still interesting to follow. Link to comment Share on other sites More sharing options...
PileDriver Posted January 6, 2003 Report Share Posted January 6, 2003 correct, and ADX needs to wake up soon...hmmm, I wonder which way the trend will be when it does finally wake up and rise above 20? Being that far below 20 is rare. Once it goes above 20 see who the winner is, DI+ or DI-, and go with the winner, obviously. Read sixth bullet here: http://www.stockwerld.com/directional_body.htm Futures are up, I'll be groping again tomorrow with Mark. Just another Manic Monday Link to comment Share on other sites More sharing options...
slinger Posted January 6, 2003 Report Share Posted January 6, 2003 It looks like following the black ADX line would've kept me out of the market for almost the whole month of December. I would've got the shakes if I would've stayed out of the market that long. On the daily chart, following the DI+ crossdown in early December, though, would've allowed you to go short and then you would've covered at the latest when the DI+ crossed back up. I follow the 60 min chart, though, since the daily chart forces me to hold overnight. I like keeping my risk at a minimum if possible. This is fun trying new indicators. Does anyone else have other favorite indicators that are reliable? Thanks. Link to comment Share on other sites More sharing options...
PileDriver Posted January 6, 2003 Report Share Posted January 6, 2003 I also like using Aroon to keep me on the right side of trend. Bottom chart here: http://www.stockwerld.com/ It signals turns late. Its more of a trend confirmation and way not to give up on a trend too early gauge. A common mistake amongst many..."Oh, this can't last, it's got to turn around" syndrome. I also use BPI and McClellan Summation for this (trend direction) too. Right now all are pointing south further confirming this is a brief relief rally to be shorted, eventually. Link to comment Share on other sites More sharing options...
Guest Posted January 6, 2003 Report Share Posted January 6, 2003 The automotive blow-off doji? anal cysts at Elliotwave International are probably scribbling this in their noteborks: $250K: The Ultra-Luxury 'Cadillac Sixteen' -- GM'S Bob Lutz: 'This Car Will Show The World That We Simply Take A Back Seat To No One'... - Drudge Report Can an outrageous $250,000 Cadillac with a V-16 engine make Detroit king of the road again? Link to comment Share on other sites More sharing options...
sweefraapp Posted January 6, 2003 Report Share Posted January 6, 2003 Small image. OEX put/call open interest is rising. Since the December expiration, they've opened 39,360 put contracts as opposed to 28,675 call contracts, which has pushed the ratio between put and call open interest to the highest level since March. This is smart money. At the same time, the equity put/call ratio has been falling steadily, suggesting the more poorly-capitalized traders are beginning to bet more heavily on the upside. The 10-day ratio has fallen from a peak of .73 a couple of weeks ago to .62 now. Not extreme yet, but.... Link to comment Share on other sites More sharing options...
Gamma Posted January 6, 2003 Report Share Posted January 6, 2003 SUNW - Inverse head and shoulders Yeah, right. Regards, Vesselin Vesselin, Thanks for your elaboration. Regards, Gamma Link to comment Share on other sites More sharing options...
rayok Posted January 6, 2003 Report Share Posted January 6, 2003 www.softwarenorth.net/cot/current/charts/ND.png Vesselin says a picture speaks a thousand words Link to comment Share on other sites More sharing options...
bubbadropping Posted January 6, 2003 Report Share Posted January 6, 2003 Fellow stoolies the site I often use for charting analysis is interesting tonight. I would not be short for a while now. Just a sense. It is possible that we go up all the way into an important time turn on Feb 14. Sorry. Daily indexes are Dover Sole, weekly is rolling over so ofcourse there is confusion. There is always confusion when dealing in the dog food 'science' of T.A. Amat of all things is beginning a break back up. Bvsn of all things is a gamblers long. Spx has completed a 50% retrace and has now reversed coursed. This is not bearish. The Wall Street Hoods will buy up into the facists speech. These same criminals will also buy war outbreak news. Why? Because they are assuming it will be won in a Jiffy and because the market rose like mad once the bombs started to obliterate Afghanistan. They will buy this friggin War. This could very well cancel the heavily short Bear strategy for mid January since the war everyone knows starts around January 27. Its a foregone conclusion folks, done and circled on the calendar and if they need a Gulf of Tonkin to start the celebration they will manufacture one. Just some thoughts. I will avoid short for a time. The board as well is assuming mid January as a given entry point. Whenever I see this here it raises significant red flags. Sorry all. Just my two cents, all the best, buddhadropping Link to comment Share on other sites More sharing options...
Guest AssMaster Posted January 6, 2003 Report Share Posted January 6, 2003 So, is no war bearish? Or do the bulls win either way? I agree, AMAT still looks like it might run at 18-20 but nothing can stop the boys from continually front-running the second-half recovery, every time from lower levels. The guy at Starbucks wants to put his downpayment money into Intel, AMD, Nvidea, and ATI. We're going down, but maybe not yet. More fools and their money. But for a real dump, perhaps we need to shake out a few more bears. Link to comment Share on other sites More sharing options...
slinger Posted January 6, 2003 Report Share Posted January 6, 2003 Thanks Piledriver for the Aroon indicator. It looks like a great confirming indicator! If a rally does continue on the $SPX, 918 is the current top bollinger band. MACD crossup and DMI+ crossup are both saying rally is for real for now. Link to comment Share on other sites More sharing options...
GTNWORSE Posted January 6, 2003 Report Share Posted January 6, 2003 Hey Guys, Just gonna take it one day at a time with my position in RYVYX. Hoping that the wisdom of the fearsome foursome (Mark, Brian, Piles, End) along with the rest of the team here in stoolville can get me out with some pocket money. Good luck. Link to comment Share on other sites More sharing options...
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