wednesday thoughts

424
there is a bull harami on spy daily, but imo its not a very good signal this time,,, candle patterns work better when the trend is longer and not so sideways-ish if we look back longer,,,this harami is a bull pattern on a multi-day decline,,,but the longer trend was up on spy not down, making it less reliable, less bulllish

422
imo 60min ES SPY are in no mans land now, but the 60min should go higher than todays high, even if lower some first,,,failure to go higher than todays high would be bearish, but might lead to narrower range days and less volatility if it doesnt get the higher hi

default view: should go higher, too early for swing shorts today

402
IMO, FACT THAT THE es BREAK OF 1366 1364 DID not TRIGGER more intense selling is more bullish than bearish, for now until tomorrow only, not mid term

355
76% buy signal on es atm

353if not stopped out, i may close the SPY afterhours,,,volume on spy is high enough AH

352
chart suggesting poss move higher 400 to 415pm es, if it is over 1362 at 400pm

347
1365.50 scalps above mkt buy stop could work if it gets there, scalp only, ES trading

346
impt support test on ES right here, 3min chart, into close. result will likely determin direction thru 400 415

340
if ES doesn not get to 1366 soon, may test 1360 lower today by 415pm,,,watching this SPY long scalp dud carefully here

321
ANN never rallied up to fill the 28.09 order to short, and i'm cancelling it for now.  will re-eval at later.

222
76% ES buy scalp long signal, 1366

219
91.30 last cotton

218
cotton is giving a decent pullbak for longs via bal, /CT futures, swing,,,i'm not addding since i bought it lower, but this area is a backtest to support

200
2783 last ANN,,,approaching the 2809 trgt area to short, will still swing short ANN if it gets there

155
if large position, nothing wrong with taking 3 pt scalp prfoti into strenght here on 25% of shares

143
136.66 hard stop on spy longs for now, may exit b4 stop but stop in place in case of sudden move

136
2380 VHC target to sell half if it gets there, 4.6% gain target 1

130
still holding the SPY scalp, at same place as entry atm
,,es longs still valid for scalp imo


125
VTNC up 3% from entry this morning, trying to hold for 5%ish trgt, on half,,,higher for second half
,, still waiting on higher BAL up 1% from this morn, trgt not hit yet

117
LOL the 2 hour range on VHC is 3.5%ish, thats like 400 dow point intraday swing,, i mentinoed that VHC stuff is volatile

110
15min high low chart on ES has a measured target of 5 points, to 1374, which"just so happens" to be near prior 1373 60min low (support turned resist),,, so a good chance of a test to 1372-74 area on ES

102
VTNC is up 2.5% and VNC is down 2% so they r cancelling each other out for now

100
137.50 and 137.80ish SPY scalp trgts,,,trying for .80 on half for now if able

1256
SPY continuing to try to break the 60min DTL,,,its pressing here higher

1226
74% es buy long scalp signal at 1366

1211
60min chart on spx es suggests waiting 3-4 hours b4 any short swings, imo

1210
SPY looks like it is going to try to break the 60min DTL higher, over 138.00 spy may find buyers/short covers

1208
 if you're patient, ANN shorts have 7%, 12% and 20% trgts lower, i'm waiting for 2810 if able to add

1206
ABT abbot labs 5780, 5850,, 5700 trgts

1203
VHC long is red now, but that thing is v volatile,,,holding that one still

1155
watching for next trg on cotton 9307, last 9240,,,no plan to sell at 9307, yet, wating for higher trgts for now

1152
bull scalp diverg forming on es 3min chart now, still baking

1135
bought 1366 es support, same # as 8am

1133
long spy 137.17
es 136675
for scalp swing combo, may be out of it quickly

1129
be interesting to see if GOOG stays under 637/638 today or now, over that it can accelerate

1044
cotton now at 9200 trgt, holding longer for higher targets

1043
i have an order to short ANN at 28.09 if it can move back up there,,, ANN is likely to follow the path that CAKE took,,,just takes awhile sometimes, last 2764

1034
cotton futures trgts approx 9200, 9307,,9370, 9430, 9600, 9800,,,last 9182 moving on high volume up 2% from yest

1025
to diversify, sometimes i buy the dip long on uptrend daily,,other times i buy long the basing patterns on stocks in downtrend,

1019
 remember CAKE? it finally hit its 8% profit trgt other day on the remaining shares,,,it just takes time sometimes

1010
went long VTNC 7.70, diff than VHC

957
VHC 2275 here long scalp or swing could work,,,it is very volatile and can make large moves quickly so size accordingly

942
1380 resist trgt on es if it breaks over 1373

941
1370--1390 lots of resist on ES, expecting a stall there, dont know how volatile it will be in the resist zone, watching reactions

940
BAL is already up 1% since this mornings pre-market entry, but waiting for higher targets on cotton still

811
1365 1366 should find buyers else 3-7 points lower poss,,if long stops near 1364.75ish make sense to protect profit

810
i just took off a piece of XPP 48.22

755
FXI XPP up 2.5% china up nicely this morn, as is ES SPY UPRO

755
Cotton here pre-market via BAL looks good swing, 54.40--54.60 buy area, stop 52.40 or 53.40.

* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".