| Bill Baker |
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| Monday, June 13, 2011 |
| Tuesday, January 27, 2015 7:37:30 PM |
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David try to add to your research of all time highs and lows the following.
Track stocks that make 3 - 52wk highs within 30 days. Track stocks that make 3 - 52 wk highs consecutively (even more powerfull).
About 52wk lows you can apply the same to shorts, but $5 stock I wouldn't. About catching falling knives that is a risky proposition - keep your guard up on those.
Take care.
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Bigblock never left (neither the forum nor the markets). I know the guy well, and he is certainly among us. Just a different block per say - like someone said above many have moved on to bigger and better things.
If it is true you all really miss him, then you should all raise your voice to management and allow BigBlock back in from exile.
Bill Baker
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QUOTE (chasd1) while looking at some level 2 data, i will sometimes see bid at 11.80 ask at 11.89. then in the latest transactions i might see that a transaction happened at 11.84. just curious as to what might cause this since the bid and ask did not come together?
Lots of things can cause that.
First of all, I am not sure what stocks you are looking at, but a 9 cnt spread is a huge spread. Usually stocks with low liquidity and no dynamics display a spread like that.
If that is the case, the MM wants to play with you and take your money. Be careful.
In a imaginary case in which you find a dynamic stock with liquidity and displays a spread like tht, if you see someone stepping on the bid is because for some reason they want to get in the stock NOW.
Ocassionaly someone pushes the wrong botton and buys what they never meant to buy.
It could be a lot of things. You need to use Level II on conjuction with TOS to decipher further.
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QUOTE (stephencardillo) Just double checking my work so if anybody has some input on my technical analysis that would be helpful.
SPY
I have it hitting a longterm downtrend from 10/12/2007, 5/6/2011 and 7/22/2011. It looks like it's trading into a huge pennant. Not sure if my trendline is accurate but if it is I think we selloff at least temporarily. I actually started the trendline on 5/6/11 and extended right. Then I noticed the peak in 2007 so I extended left and it went right over the top of it perfectly.
I don't think it's necessarily a market reversal since the MACD on the 08 and 11 selloff were crossed down and the histogram was bearish on the weekly charts. Today's chart the MACD is crossed up and wide with no bear d on it or the histogram.
I am still learning so please don't rip me a new one if I am wrong. Thank you.
Stephen
Well, everything is possible given the right time. Timing is the issue. I am not sure at this point because the market don't pare well on fundamentals anymore, as we all know that if that was the case the market wouldn't be where it is today - would be much lower.
Bernake keeps pumping and so do equities and commodities at least for now.
I have an article I came across with an interesting TA hypothesis - too long to post here, but if you are interested on another perspective you may want to check it at my blog.
http://billbakersblog.blogspot.com/2012/01/bears-running-out-of-real-estate-and.html
Enjoy it.
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QUOTE (sharppolly) hi,
everytime i try to employ a buy signal that has worked since the beginning of time for a particular stock, it fails, unless i try to short it, then it rips my face off. if i short 50 shares and go long 50 shares, it sits still until the second i go to cover, then it drops 3 points before i can sell my long position. so mostly i just sit and watch others and wonder if they really make any money trading against the computers. but its still a fun way to blow a few hundred bucks every now and then. the casinos are no place for the intelligent gambler.
i hope this helps 
Good comment Sharpolly. Doesn't it make you wonder? Only those who can predict the future make money in the market. We all know who they are: Senators, Congress Men, Market Makers, and Uncle Sam. Of course there are also a hand full of important folks in government and corporate who are also in the know in exchange for $. It alwas takes $ to make $.
Keep watching others and every now and them take the few hundreds and indulge yourself to something you like to do. You will profit by enhancing your life.
Good luck.
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QUOTE (remobile1) Oh dear, I do seem to have unleased some vitriol here...and with such an innocent question as well.I'm wondering whether some of you have even read my question. I wasn't asking for advice on my trading. Neither did I say that no-one makes money. I will repeat my point for those unable to understand my original question. If people who spend all day writing indicators, reviewing layouts, tweaking code, etc, are not able to use that experience to find an edge in the market themselves then that tends to confirm what I already think: that indicators don't work. It doesn't matter whether these staff work on Stockfinder, Tradestation, Metastock or anything else.
Remobile, your question has been answered by me a thousand times in this forum.
No they don't work to make you rich. they are not the holy grail. for the most part folks basing their trades in TA lose. Just like in a casino, you play long enough you lose.
The only thing that works in the market is knowing before it happens. Only a few have the connections and can afford that.
Those are the ones that profit in big ways from the market. And among those like I said are your senators and congress men and women.
What happen to the changes to the insider trading rules for congress and senate - NOTHING is in the back burner and more likely than not it will not change. A shame that a senator or congress man can use insider trading information without going to jail, but the 99% of people CAN'T.
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Well you can arrange it anyway you like - I would say the standard is daily, weekly, and montly with many variations in between.
Determining the length of the move wil be in the particular time frame chart you are looking at and how the patterns or indicators evolve.
It is important that if you enter a trade in a particular time frame you make your trade decisions base on the same time frame - whick for most folks is difficult mostly if you trade from a longer time frame and daily look at smaller time frames.
The most important thing is to remember contrary to what you are usually told:
The longer the time frame the more risk you take.
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You mean the artificial rally that took place premarket on tuesday?
The market hasn't have a single organic rally all week.
Check on m blog just commented and article about that
http://billbakersblog.blogspot.com/
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QUOTE (PRRWB) QUOTE (ponchomike) I've been watching the 50, 100, 150, and 200 day moving averages on the SP-500, and see all are converging. For the most part, the moving averages are relatively flat going into the new year. I also see a symmetrical triangle forming.
I can't remember where, but I seem to remember that when the moving averages converge on an index like this, a big move is about to occur.
Does anyone else have any thoughts on this? What about the direction of the move?
Mike The symmetricsl triangle on the major indexes already broke to the upside the first day of trading this year.
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QUOTE (ponchomike) I've been watching the 50, 100, 150, and 200 day moving averages on the SP-500, and see all are converging. For the most part, the moving averages are relatively flat going into the new year. I also see a symmetrical triangle forming.
I can't remember where, but I seem to remember that when the moving averages converge on an index like this, a big move is about to occur.
Does anyone else have any thoughts on this? What about the direction of the move?
Mike
Well I like to converge with diceman comments, but further deeper you must keep in mind a few things.
First off all the markets on the greater picture are still in a super bear cycle.
A lower low from the highs in 2007.
Europe is in flames without direction.
Middle east is burning
China is slowing down - so will many comodities.
Inflation is seeping like water in the titanic - hell $3.29 for a loaf of bread, and $3.59 for a gallon of gas.
Our house is falling a part (DC).
Where is our housing sector still?
Where are our jobs?
Where are our local and state economies?
Whre is the dollar?
I can keep on going.
so ask yourself - where are the odds of market breakout - up or down?
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