Major Signals!

Based on the style I trade, today shows a clear indication that I would be playing with fire-if I make an entry on ANYTHING! Again, this is just my humble opinion.

This mix market shows a true pull in opposite directions of the DOW and NAS. I pay close attention to the futures during days such as today. What really alarms me is, the Dow futures is showing strength (Dow is -37, but futures is -23). The NAS is showing the opposite (NAS+1, but NAS futures -2.00). This might seem fairly small, but it means everything when trading form small charts and looking to be in and out in within a few hours or less. These two Powerhouses are the foundation of what makes stocks move consistently-or as anticipated. I simply cannot place a trade when all momentum from the broad is not behind me. If the broad cannot make its mind up which way it wants to charge, then I am not going to try to force a trade without the full support of these powerhouses. I am sure there are great trades out there, but I will hold onto my few dollars and live to trade another day.

Agree 100%. You also need the S&P which is $$$ in the market.

Although there is not a gap on the Daily for Nasdaq or S&P futures there is one on the 55. Gaps need to close on small charts. Bigger charts can take months or years...if then.

I looked at NFLX this morning and its pop up. I looked everywhere for the reason and there was not one. Amatures do not pop a stock on no news. Someone knows something somewhere about NFLX. Looking at the gaps on NFLX (Daily) leads me to believe today is not the day for a trade there but perhaps tomorrow.

Sticking my neck out but I think NFLX is a possible up and to the range of 240-255. The question is when?

When I measure the gap on the Daily I am expecting a half gap up which it nearly has done today. I would trust the move even more if both BB's had spread open on the Daily and not just the top one.

The 55 was a slight HRFP but it was up against a market in the red. It just didn't "feel" right. Maybe later today it will. We are moving into the summer zone. In May 15th - end there should be some "heavy profit taking". But this pop up on NFLX seems odd.



Edited 1 time(s). Last edit at 05/13/2013 12:12PM by Darcy2.

The NFLX move today is the result of big charts. Analyze the weekly/daily. That is why I trade them bc at any point the stock can turn and go in the direction of the major move.

IMHO, NFLX Weekly, Daily, and 233 are all pointing to a big move down, for a while :-)

I only trade what it is currently doing and not what I think might happen. I entered on May 8th when the stock was 208 and the old rule is Gap up to Go up. Weekly is not at TBBB and monthly indicators are wide open. NFLX may go down and I hope it does, just means I will trade that direction.

I bought 3 May 13 170 Call contracts on LNKD this morning. I entered the trade at 10:09 off my 13 chart. I paid $10.10 at 10:15 or so. I sold at 10:35 for $11.70. I bought for $3045.05 and sold for 3494.97. I profitted $449.82 in 20 minutes! As always, I am closing up shop and finshed for the day. I will take a look at how things finished up tonight at home.

I am really learning that sometimes having a winning trade is not trading at all. Monday, I sat patiently and did not see a trade, so I did not enter. If I would have forced an entry, I WOULD have lost money. Today, I saw a trade, entered, and made money. The money is good, but knowing that I am trading well is more satisfying right now. I WANT TO TRADE WELL!

Have a great trading day!

I had a successful trade on ADP. I entered on 5-9 around 10:00 @ around $69.59 off of 13 "E" chart with FP off of 55. I had bought the June 70 calls. I was comfortable for the most part holding overnight looking at the next bigger charts. The daily, & weekly was up and used the 233 to stay in. It has been riding the 10ma on the 233 since around 4-19. It hit my GTC today around 10:45 and took me out.

Traded MA today. Got in @ 10:03AM left trade @ 12:24. Bought 3 June 560 calls for $12.20 sold for $16.80.

GW's 55 and 21 showed trade would be fast and up. Had "E"on 10 and 21 E chart.

I bought June because 1) Expiration week and 2) Entering the Summer Time Zone. I wanted some breathing room.

Usually I trade in the week of expiration Mon and Tues but not this time.