Jitters

Market seems really odd to me over the last several days. I can't really put my finger on it but all I can say is it is just a feeling I have...a caution if you will to be alert.

Anyhow S/O and I have been trading off our E signal and the Christmas Cross. If we do not have both we do not trade. Yesterday S/O jumped on the Q's when he saw movement @ 11:22. We didn't know the news about the airliner that was shot down. We had CNBC turned off. He got out @ 11:30 with a profit of about $2,300.00.

July 15th we had a great trading day with a 38% profit on NFLX and a 59% profit on CMG. With this market as it is we cut back to trading just $2,500 - $3,500.

I did do a quick GOOG (2) trade today. A simple pull back or a typical PEAK. I use the 21 chart for PEAK plays and the candle MUST be out of the BB and red while the stock is up ALOT!

GOOGLE
07/18/2014 O STC GOOG Jul14 590 Put 5 $6.60 $14.95 $3,284.79
07/18/2014 O BTO GOOG Jul14 590 Put 5 $5.00 $14.95 ($2,515.13) 769.66
Total Realized Gain/Loss for GOOG $769.66

GOOGLE
07/18/2014 O STC GOOGL Jul14 597.5 Put 5 $5.50 $14.95 $2,734.81
07/18/2014 O BTO GOOGL Jul14 597.5 Put 5 $4.60 $14.95 ($2,315.13) 419.68
Total Realized Gain/Loss for GOOGL $419.68

AMZN to me is still a little odd-ballish so I am avoiding it right now. I am looking at VMW and expecting it to pull back but there isn't a signal yet like I trade off of. It looks like the moving averages on the 55, 34 and 21 will knock it down but this market seems so sluggish. The 233 is even showing me some resistance but like I said this market seems sluggish. Then again I have always liked warnings better than earnings season. Please do not trade off my VMW thought.

ADD: (10:59) VMW breaking above the 200 moving average on the 21...getting interesting...hummmmm...

ADD (11:31) VMW looks like it is breaking down. Not a trade yet but watching.



Edited 2 time(s). Last edit at 07/18/2014 10:32AM by Darcy2.

Seems to me the summer is always this way. What is this E signal I keep reading? I dont recall that being covered in 1-5.

This summer seems to me to be different than last summer. I think it is a little harder but that is my opinion only.

E Charts were not covered in 1-5. E charts are a product of my S/O. They are moving averages that when crossed along with GW's HRFP or FP produces a better chance of a good trade.

Read Technical Annalysis for Dummies especially pages 221-224 to get an idea of what a E signal is. This signal my S/O and I use to trade options thus we use them on smaller charts. Technical Annylis for Dummies was not on GW's book list either. Also apply Market Makers Edge (GW's book list) along with candle formations for even a better chance of a good trade.

Use the search on this site to find info on E signals or E charts.



Edited 1 time(s). Last edit at 07/22/2014 01:40PM by Darcy2.

Darcy, I am in your camp on this one. This summer definitely feels different. It is like the market wants to pull back but it can't - each dip is bought aggressively. I am curious to see what catalyst is used to explain the pullback when it arrives. S&P futures are back at the top of the range so this afternoon could be interesting.

Thanks Darcy! I was afraid I missed something.

I agree NC. I thought for sure after the market reached the 17,000 mark we would get a serious pullback. I was fooled.

S/O and I have traded and have done ok. Still haven't lost any trades but trades are few. I am also unwilling to put anything above $3,500 - $3,700 on the line. Just a little jittery about this market even though the talking heads keep saying this is a bull market.

S/O says his Q's have done well. He made a little over $750.00 in them yesterday but it took him all day long where usually he is in a trade a very short time.

For the DOW....Using my regression line and drawing off the bottom candle on the daily on 5/20 and stretching it to today's thus far...I can see the DOW is full steam ahead. The bottom of the regression line has been pierced but not broken.
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dP you are very welcome.



Edited 1 time(s). Last edit at 07/22/2014 01:41PM by Darcy2.