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LC, pardon my ignorance. could you please offer a little of the rationale for under 1200 (related to SEC short-sale jazz). as to current intraday market, even though there is a (what appears to me to be a bearish wedge on the 60min), but the lower TL has not been broken. Price intraday...

60 min bearish wedge?

congratulations, smilingsynic, on your historic performance. I have to shut down now, time to head to the hamptons (only kidding). have a great weekend everyone. the market will be here next week.

ooops, transcribed wrong number into my spread sheet. :eek:

smilingsynic, where's your R1, I have 1257.25. how would you define a failure at R1?

62.50 is now showing firm offer of 2400, right now, does not look like a spoof because price chips away at it by raising the offer but size in that layer remains. possibility that price chews through this level, then jumps 5 points (or so), then roll over and if 62.50 undercut, train to...

could see 69 print today. premum of puts is being sucked out of the market, look at the vix. when someone writes a put, can partially hedge by shorting underlying, now as price of underlying moves higher, put owners capitulate and close out position, put writers no longer need hedge...

tortoise, my comment was supposed to be a joke

wave, I don't think price can print above 1243.75 :D

kamek, you want discretion? but the discretion you have exhibited is to watch, not trade. just get up tomorrow. have your charts in front of you. and just say to yourself. "When the signal comes. I take it." This is what you've worked for, noticing the nuances of price. This...

B1S2, have you ever been employed by a large institution (related to the markets?

JSSPMK, http://online.wsj.com/mdc/public/page/2_3021-tradingdiary-20080715.html?mod=mdc_pastcalendar NYSE new 52wk lows as reported by the WSJ, includes all issues, not just common stock. WSJ reported that for yesterday's trade day, NYSE new lows were 1304 NYSE issues traded were...

referenced study was based on SPX close (cash index)

making predictions is difficult...especially about the future. In a former life, I produced historical statistical reports out the wazoo. I no longer have these reports. But one thing I do remember is that since 1978, anytime the number of new lows divided by the issues traded was over 30%...

guess not. Last stop, palookaville 1213.50?

my pleasure, Musashi.

1221.25 is 8 points down from 29.25, time for drop, longer than I originally thought, it took 16 minutes. I learned something (and maade some money, too. trade not eligible for journal purposes, only for $$$$ into account.

ammo, the real purpose of my post was to let everyone know that the size at 29.25 was not a spoof. I am now very curious to see how price acts if it undercuts 29.25

I don't know why someone would show "real" desire to sell like that, either, but so far, the price is acting like it did when I saw similar in the AH. If pattern I saw before repeats, then... for today, if price now moves under 1229.25, I 'd expet to see 8-10 points downside in short...

yeah, that was me, sitting with 5000c to sell. I'm done for the year now. only kidding