ES Journal Archive (2006 - 2008)

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Quote from Anna K.:

don't you think that they are very expensive and the vol is too high?
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Yes, and moves fast!

I was looking at the Jan 33, 34, 35 calls but too pricey and wide bid/ask. I'd rather trade XLF etc

USO Jan 32 is 3.60 bid 3.50 ask 3.70

XLF Jan 13 put is 1.38 bid 137 ask 139
 
Quote from wohc:

How about intraday trin? Any opinions?
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It only matters if volume is at least average. Low volume days distort Trin.

Best modality to gauge intraday strength is advance issues/advanced+decline. This gives % of stocks up on day.

In a non trending day readings of 67 or 33 percent indicated overbought or oversold.

Days where it is above 85% with news will generally close on its high.


Here is TS code:

[LegacyColorValue = true];
[SameTickOpt = True];
inputs:
AdvIssues( Close of data1),
DecIssues( Close of data2),
OB(.67),
OS(.33),
Avg(1);
value1= advissues;
value2= advissues+decissues;
value3= iff(value1=0,0, value1/value2);
Plot1( Value3, "A/D%" ) ;
Plot2(ob,"OB");
plot3(os,"OS");
Plot4(.50,"CL");
 
Quote from Lawrence Chan:

Trin is derived from adv,decl,adv vol, and decl vol.

So it cannot tell if some stocks are being accumulated at a price lower than previous day close. It will be classified as heavy selling if the volume is significant.

Or, the flip side, stocks being distributed at a price higher than previous day close. It would be classified as buying if the volume is heavy.

Thus, it is good for confirmation of a trend, but not for detecting "non-confirmation" of a trend, like today.
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It moves. What if $TRIN keeps going higher?
 
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