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I'm taking my book, but I'm bullish today (Monday). No real reason for the markets to end down today and plenty of good reasons for it to end up based on T.A. TNA is negative right now...I think it will be nice and positive by day's end. SM

Lev, Yes and yes. I've met very experienced traders recently who use little more than candle charts and a moving average. After researching that, I can kind of understand it. Really, all the indicators are doing is displaying the information that can be seen with a candlestick and volume...

The markets were already kicked in the teeth, so when the bad news came in, they didn't flinch. Or looking at it another way, shrugging off bad news is bullish. Besides...the GDP is in our rear view mirrors by the time it's calculated. I think we're going up. SM

Starting to taper into long positions. Bought TNA and URE. Looks like we're going to enter a up cycle for a few days or so. If Monday confirms, then I'll go in heavy.

Yeah, the gap downs are part of the cost of doing business. If you've been a daytrader, you've really got to watch out for random noise...it can really fool you. I chart heavily with candles, and the look of the candle isn't really finished forming until right before closing time. So to...

OK...It did what I thought it would. Hit the target and now it's dancing around it. Though one of my charts tells me to stay in TZA (a leveraged short ETF), this bigger chart (above) says we're at the lower limit of what is *probable*. Meaning...the price could slide along the lower...

Here: http://stockcharts.com/h-sc/ui?s=SPY&p=D&yr=0&mn=3&dy=12&id=p75403905499 Seems like it would bounce off the lower bollinger at about 107.5 or 108 which could take 2 to 3 days to hit that. After that, I think it will pop back up...that'll be when to go long, IMHO. Edit: There is...

Well that was quick!

Markets are going down for a couple days. I'm betting that TZA will hit $7.25...closed at $6.97 yesterday and should open lower.

Or maybe just unpin the old one? Alternately, is the number of entries fixed, or can you have more than the few showing?

I do, I do! :) I just sent you the coolest chart via PM. Hope you'll run some of your stocks through it...could be eye opening. I can tell you that things still look like they are turning south to me, and some of the few stocks you shared with me. PM me some more...I would like to analyze...

It's starting it's slide in earnest now. I definitely bought TZA too early, but I'm in the black now.

Bought TZA again...I'm early on it, but I think the market needs to take a time out.

Here's where I blew it: I said this: "This sounds like a cop out, but right now, the market is in a very "unstable" place. Take a look at any market and remember that index average. If it moves 1/2% in either direction from where it sits now, it will keep going for at least another percent...

It's odd. I was looking at NFLX, and a couple more you mentioned, They all looked topped and on the way down. Yet the market keeps going up. I don't get it. I tried a little shorting with TZA but didn't like the heat so I got out. SM

I'm seeing hints in my charts that the market will have it's legs pulled out from under it Tuesday. Have to wait and see.

I enjoy movies, walks on the beach, and technical analysis. :)

OK, TZA is up nicely and I still am not seeing anything indicating that it will continue on up. I mean, something is supposed to happen in my graphs by now that hasn't....indicating we are still in a "dead zone" and markets could go up and markets could go down. Bottom line is that I can't...

And if you were smart enough to buy it at $6.50, you've made about 5%. Geezus, man, don't be greedy! Sell some off! Nobody can perfectly forecast anything! SM

TZA now at $6.75 and rising as the markets (start?) to fall. Stopped out of NFLX...dumping longs might be prudent here. SM aka Steve :)