Evening trading US shares

[PitBull]

I wish...LOL! Only caught RIMM from 167.36 to 166.15. They all started tanking at the same time and I had my eyes on RIMM and when my order was filled, I only had eyes for RIMM, as it requires my utmost concentration. MA set up an entry at 2.20pm and it tanked hard and ICE at 2.40pm, that's if you missed the first breakdown from 154

 

[Captain Haddock]

Guys, I've flagged up HUN, VMSI and EAS as gappers.

Along with your usual suspects, would these be something you'd tune in to today?

 

[Captain Haddock]

nice heads up on HOKU lloydsc, running hard again today.

 

[lloydsc]

Hi Captain Haddock

I don't get to trade the open very often due to work commitments but if I did I would keep a previous day runner like HOKU on my hotlist for today as well as the stocks that you have isolated.

It has gapped up about $1.50 today so it may run and then sell-off or it may run or just sell-off. It doesn't really matter as predefined set-ups will determine whether you trade it or not.

Regards
Steve

 

[Trader333]

Steve,

Did you get flooded as I see Sheffield was hit badly ?


Paul

 

[lloydsc]

Hi Paul

Foretunately no - I live at the south side and all the flooding was north of the center (Meadowhall, Attercliffe and Brightside). I work in Leeds and can't get through as all the northern exits are blocked.
If it rains heavy on Saturday we could see the same again.

The sun does shine sometimes here - or so my Grandad tells me!!

Regards
Steve

 

[PitBull]

Guys, I've flagged up HUN, VMSI and EAS as gappers.

Along with your usual suspects, would these be something you'd tune in to today?

Not really captain as they gapped too much, and normally just go sideways all day. Best to look at gaps 1-5%. Sometimes gaps up to 10% may be worth looking at as well.

 

[dvdh]

GUYS,

There was some small selling this afternoon in the index.
But Merrill sold the cash close 500 times. And in the last 15 minutes of trading in the S&P futures (after the close), Merrill Lynch sold 2500 to 3000 big contracts in the pit (equal to 12500 - 15000 minis) and at least another 5000 minis. Pushing it 8 points lower from the cash close. Goldman sold a few 100 bigs as well.
This is absolutely HUGE. The last time I told you about a huge seller it had no influence the day after, because it was all options expiration trading. This time it WILL move the markets tomorrow. The indices are ready for a good move lower. Check out the daily chart of the spooz, dow and naz. All ready to sell off. We also had ORCL, with dissapointing number, which is a heavyweight in the index. We have skyhigh bond yields, high oil prices, a housing market that's slowing down, and inflation, the credit market is in play negatively, the chart is setting up, and there was a huge seller in the futures. So fundamentelly, technically and sentimentaly it looks like we should get ready for a move to the downside.
Just a heads-up.


----

For the people that didn't know:
Equity futures are open 23 hours and 45 minutes a day, except on saturday and most part of the sunday.
They're only closed 15 minutes a day.
The big volume in equities(stocks) is at normal market hours. That's NY time: 09.30 until 16.00.
In index futures that's from 09.30 until 16.15. At 16.15 the futures pits AND the Globex close. Globex index futures reopen 15 minutes later at 16.30 and remain open until 16.15 the next day.


-Dave

 

[Captain Haddock]

Not really captain as they gapped too much, and normally just go sideways all day. Best to look at gaps 1-5%. Sometimes gaps up to 10% may be worth looking at as well.

Thanks pitbull, that makes sense. Gives them more chance of filling the gap I guess.

 

[lloydsc]

Captain Haddock

They could continue in the direction of the gap also.

Regards
Steve

 

[lloydsc]

Fomc

Morning All

With the FOMC and Durable Goods happening today how would this fit into your daily routine and thought processes?
I don't have anything to offer the thread on this subject and I therefore wondered what impact it has on everyones strategies.

Regards
Steve

 

[PitBull]

Hi Steve

Always be aware of the economic news but don't form any opinion about it. Pick stocks with relative strength/weakness.

FOMC announcement is tomorrow, but meeting is over 2days. I am always flat 15mins before and after. After, I wait for the market to digest the news and then get some direction. Normally they run it down, run it up, and then set the direction.

Normally in the days up to FOMC it is very slow, so sitting on your hands or being extra selective on your trades is a must.

Regards
PB

 

[lloydsc]

Lee

Once again - thanks.

Regards
Steve

 

[PitBull]

Nvda

Here's some results of a new strat I'm using. Was an overnight play.

Long last night just before the close and closed earlier as it made a lower high.

 

[timsk]

Here's some results of a new strat I'm using. Was an overnight play.
Long last night just before the close and closed earlier as it made a lower high.

Hi Lee,
Stirling stuff!
Just curious to know if you saw Dave's post last night before you entered this trade? If you did - you must be very confident in the new strategy!
Tim.

 

[PitBull]

Hi Tim

Yes I saw it after the close. I tend not to take too much notice of pre and post-market futures. I know they sometimes set the tone for the day, but on numerous occasions it gaps down to entice the panic sellers for the pro's to reverse it back up. Today is a perfect example.

I hope some you guys picked up GRMN today, as I gave you the heads up a couple of days ago. Has been an awesome breakout from 73.50.

Best wishes
PB

 

[dvdh]

Hi Tim

Yes I saw it after the close. I tend not to take too much notice of pre and post-market futures. I know they sometimes set the tone for the day, but on numerous occasions it gaps down to entice the panic sellers for the pro's to reverse it back up. Today is a perfect example.

I hope some you guys picked up GRMN today, as I gave you the heads up a couple of days ago. Has been an awesome breakout from 73.50.

Best wishes
PB

Very nice trade on NVDA, Lee, as always!
Tim, I was short SPY's yesterday post-market at 149.00, and closed them this morning after I heard locals were bidding up the market when paper sold it. That means locals/marketmakers are getting long. When we broke through 148.50 in the SPY I closed my position. A small profit, but in my eyes it was a failed trade. I anticipated a good move lower today. But tomorrow we have the FOMC announcement. Let's see what that will bring us. The last few meetings we didn't get much movement from it. So we'll see tomorrow. Durable good orders were really bad today. So not much good news really.

-Dave

 

[vegas]

Here's some results of a new strat I'm using. Was an overnight play.

Long last night just before the close and closed earlier as it made a lower high.

Congratulations Lee on another winning Strategy.


Had a outage all day today......so it was book time !

 

[Ed-Trade]

Hello,

My 1st post so easy.....

I love this thread, been lurking and reading for several weeks now. Many thanks to Pitbull, Mr Charts, Grey and the others for sharing.

One thing I don't see talked about much is which strategies or setups that people use for US stocks. Is it a combination of 1 minute and 5 minute charts, or is it 10.00am breakouts?

Just wanted to start a discussion about which ones people thought were best as I can't seem to get or find a simple strategy to trade the open on Nasdaq stocks - I always seem to end up break even.

thanks :cheesy:

Ed

 

[timsk]

Just wanted to start a discussion about which ones people thought were best as I can't seem to get or find a simple strategy to trade the open on Nasdaq stocks - I always seem to end up break even.

Hi Ed,
Welcome to T2W and this thread.
The strategy that works for Mr. Charts, Grey1, PitBull et al, may not be the best strategy for you. May I suggest that you post a chart of a recent trade detailing entry and exit and a brief outline of your thinking. That way, everyone here can get a handle on your trading style and objectives and offer the best guidance in helping you to achieve your goals. It's better to help you become the trader you want to be rather than to steer you in a direction that you may not be suited to and may not want to go. Needless to say, that goes for each and every one of us!
Cheers,
Tim.