3SOF

SPX daily chart indicators:

Closed above the 8ema and 50sma

macd still positive at the centerline

Slow stochastics crossed down

Will the MACD confirm the slow stochastic cross down

or

Will the slow stochastics cross back up (without the MACD crossing down?

SPX daily chart annotation.

Will the green uptrend line hold?

My SKF favourite posters:

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_U/threadview?m=te&bn=58157&tid=261690&mid=261690&tof=11&frt=1#261690

Attached is an annotation of the SKF daily chart utilizing two perspectives.

1 from stockcharts and another 1 from thinkorswim.

Here's a link to my log trades at the SKF yahoo message board titled

"February 4, 2009":

http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_U/threadview?bn=58157&tid=292687&mid=294254

Attached is the SKF daily chart.

Link to post at SKF yahoo message board:

http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_U/threadview?bn=58157&tid=329249&mid=329260

Hi jeg

Saw your post on skf board and was thinking about linear regression channels in combination with a 1- or 2-minute intraday chart.  Are you still using this setup?  Seems like a good way to identify intraday reversal points, but I never really got into this idea that much but I believe you did based on earlier conversations we had.  If so, may I ask how it worked out for you?  thx for any info

mdszj,

This is what I've been doing lately.

I use the daily chart to get a big picture of what the possible range for the day MAY be.

Then I chart the 15 minute chart throughout the day.

I time my entries using the 5 minute chart, 1 minute chart, and time and sales.

I still use linear regression line as a gauge + I combine this with drawn trendlines and Fibonacci levels.

I find that there doesn't seem to be a concrete reversal signal that is "written in stone".

I still find timing the entry challenging.

However, buying low and selling high has been profitable for me so far.

Attached is a daily chart of SKF from stockcharts

and a 15 minute chart from thinkorswim.

Thks for the reply on that - helped me out good today.  I made 2 SKF trades for about 3% total today.  Just getting in at (actually a little above) the lower 1 minute bar LR channel and dumping slightly below the high LR channel, worked out well.  If somebody could do a couple of these every day that would really help build their acct up.

Are you still trading both SKF and UYG?  I guess depending on whether the financial sector is red or green that day?  I like the idea of going long whichever one is going up so I am not fighting the larger daily trend. 

I am thinking of not doing any trades until about 10 am - that seems to be when the first reversal of the day takes place (if there is a reversal).  Any thoughts on this?

mdszj,

I'm glad to hear that you did well.

Yes. I still trade both UYG and SKF.

I usually use the 15 minute opening range to trade UYG and the 5 minute opening range to trade SKF.

I usually just wait to buy near support (-1.618,-2.618,etc.) and sell near resistance (+1.618,+2.618,etc.).

Buying low and selling high seems to be the key.

When I want to be more active on my scalps, this is what I do:

When BUYING:

1) I wait for the 5 minute chart to show at least 2 red candles (near support).
2) Then, I wait for the 1 minute chart to make a higher high (this is my signal to buy).
3) I then bid at the previous 1 minute high or when time and sales slow down (printing less red and more green).

When SELLING:

1) I wait for the 5 minute chart to show at least 2 green candles (near resistance).
2) Then, I wait for the 1 minute chart to make a lower low (this is my signal to sell).
3) I then offer at the previous 1 minute low or when time and sales slow down (printing less green and more red).

Attached is the daily chart of SKF.

Here's a link to Daneric40's post titled " Bear Scenario - 688 by Tuesday" (Post was started on February 27, 2009):

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_U/threadview?m=te&bn=58157&tid=328796&mid=328796&tof=16&frt=2#328796

Here's a link to Inlet_boater's post titled " 28 Feb cycles update":

http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_U/threadview?bn=58157&tid=329399&mid=333145

thx Jeg

That was a good post, regarding using the 5 min and then the 1 min chart.  I like the 5 min myself, and also like to check out a couple longer time frames.

more later

I decided to log my trades at the SKF board later in the day:

http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_U/threadview?bn=58157&tid=334100&mid=335195

The reason I did not mind trading SKF near the high of day yesteday (intraday) was because I was counting on the Slow stochastics and MACD positive cross signals yesterday (on the daily chart).

However, today SKF looks like it is entering an overbought condition.

Price also is trading below the steep uptrending line.

Will SKF do a last push up (and try to hit the steep uptrending line) before the daily slow stochastics roll over (downwards)?

We'll have to wait and see.

Happy trading and good luck.

All out of SKF!!!

http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_U/threadview?bn=58157&tid=335554&mid=336289

Most likely I will start a new position again today.

SKF did test the steep uptrend line mentioned yesterday.

Was that it for SKF or will it create an exhaustion gap on Monday?

I deviated from my trading plan of buying low, and selling high and tried to go in with momentum again.

I ended up buying my first position that I'm holding at 264.67 (For this new round - after I exited all SKF postions at a profit).


This is what happens when deviating from a trading plan.

The 15 minute chart's angle of attack was getting quite steep and I did not want to miss a possible parabolic run up.

I let my EMOTION got into me.

Here I am posting my emotional comments (which most newbies may relate too):

SKF's angle of attack is getting quite steep thread:

http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_U/threadview?bn=58157&tid=337982&mid=337997


This was my first buy of the day:

Bought SKF at 240.00 for first buy of the day thread:

http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_U/threadview?bn=58157&tid=337340&mid=337912

(Shoulda,woulda,coulda held, lol).

Friday's trade is alread PAST.

Buying near the high looks like a mistake - AGAIN!

What counts is how that mistake will be corrected on monday.

At what point will the loss be cut?

What measures will be taken to ease the pain of cutting the loss.

How to get in " the zone" (frame of mind) to cut loss without feeling much pain.

All this will be revealed on Monday, March 9, 2009. (Maybe) 


Attached is SKF's daily chart.

Also attached is SKF's 15 minute chart ( with the steep angle of attack) when I was making a decision to go in with momentum or not.

A historic rally in the making this year? (by Daneric40):

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_U/threadview?m=te&bn=58157&tid=339748&mid=339748&tof=5&frt=2#339748

Daneric40 looks to be anticipating at least a 38% correction from the 1576 peak to be about 1000 SPX.


6 Mar cycles update (Inlet_boater):

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_U/threadview?m=te&bn=58157&tid=338531&mid=338531&tof=8&frt=2#338531

Inlet looks to be anticipating a SHORT term market bottom last Friday or Monday (tommorow), but is still bearish longer (7 month cycle)  and intermediate term (two month cycle).

Playing The Contrarian To All You Predicting a Rally (thbronze):

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_U/threadview?m=te&bn=58157&tid=339805&mid=339805&tof=11&frt=2#339805


Here is an interesting comment from boi3xxx from that thread:

"Multiple astrological sources, written during the past few months, say March 9-15 is CAPITULATION week. Seems to agree with non-astro thinking here. "

Although thbronze commented that he wants to play contrarian to the rally, he seemed to agree that a bottom could be placed this week byt this comment:

" and there we have it. lol
The last two years Mid March has produced a bounce.
So,
It will be xtremely interesting to see how Mr. Market
does put in a bottom this week. "

March 8, 2009 (got at least 68 ratings!!!):

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_U/threadview?m=te&bn=58157&tid=339877&mid=339877&tof=1&frt=1#339877

Here's a link to my blog:

http://jegejigs.blogspot.com/

Here's yesterday's "trade log" at the SKF board:

http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_U/threadview?bn=58157&tid=340722&mid=341512