Daytrading with Consensus

[Ares]

SPX Sonic Boom or c retracement?

Note:

I adjusted the speculative angle of attack, adjusted the steeper green uptrend line, and adjusted "a".

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_U/threadview?m=te&bn=58157&tid=260077&mid=260077&tof=1&frt=1#260077

[Ares]

SKF 5 minute chart double top and trading below the neckline

[Ares]

VIX daily chart looks to have used the midde M as resistance

[Ares]

SPX daily chart indicators:

Closed above the 8ema and 50sma

macd still positive at the centerline

Slow stochastics crossed down

Will the MACD confirm the slow stochastic cross down

or

Will the slow stochastics cross back up (without the MACD crossing down?

[Ares]

SPX daily chart annotation.

Will the green uptrend line hold?

[Ares]

My SKF favourite posters:

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_U/threadview?m=te&bn=58157&tid=261690&mid=261690&tof=11&frt=1#261690

[Ares]

Attached is an annotation of the SKF daily chart utilizing two perspectives.

1 from stockcharts and another 1 from thinkorswim.

Here's a link to my log trades at the SKF yahoo message board titled

"February 4, 2009":

http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_U/threadview?bn=58157&tid=292687&mid=294254

[Ares]

Attached is the SKF daily chart.

Link to post at SKF yahoo message board:

http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_U/threadview?bn=58157&tid=329249&mid=329260

[mdszj]

Hi jeg

Saw your post on skf board and was thinking about linear regression channels in combination with a 1- or 2-minute intraday chart.  Are you still using this setup?  Seems like a good way to identify intraday reversal points, but I never really got into this idea that much but I believe you did based on earlier conversations we had.  If so, may I ask how it worked out for you?  thx for any info

[Ares]

mdszj,

This is what I've been doing lately.

I use the daily chart to get a big picture of what the possible range for the day MAY be.

Then I chart the 15 minute chart throughout the day.

I time my entries using the 5 minute chart, 1 minute chart, and time and sales.

I still use linear regression line as a gauge + I combine this with drawn trendlines and Fibonacci levels.

I find that there doesn't seem to be a concrete reversal signal that is "written in stone".

I still find timing the entry challenging.

However, buying low and selling high has been profitable for me so far.

Attached is a daily chart of SKF from stockcharts

and a 15 minute chart from thinkorswim.

[mdszj]

Thks for the reply on that - helped me out good today.  I made 2 SKF trades for about 3% total today.  Just getting in at (actually a little above) the lower 1 minute bar LR channel and dumping slightly below the high LR channel, worked out well.  If somebody could do a couple of these every day that would really help build their acct up.

Are you still trading both SKF and UYG?  I guess depending on whether the financial sector is red or green that day?  I like the idea of going long whichever one is going up so I am not fighting the larger daily trend. 

I am thinking of not doing any trades until about 10 am - that seems to be when the first reversal of the day takes place (if there is a reversal).  Any thoughts on this?

[Ares]

mdszj,

I'm glad to hear that you did well.

Yes. I still trade both UYG and SKF.

I usually use the 15 minute opening range to trade UYG and the 5 minute opening range to trade SKF.

I usually just wait to buy near support (-1.618,-2.618,etc.) and sell near resistance (+1.618,+2.618,etc.).

Buying low and selling high seems to be the key.

When I want to be more active on my scalps, this is what I do:

When BUYING:

1) I wait for the 5 minute chart to show at least 2 red candles (near support).
2) Then, I wait for the 1 minute chart to make a higher high (this is my signal to buy).
3) I then bid at the previous 1 minute high or when time and sales slow down (printing less red and more green).

When SELLING:

1) I wait for the 5 minute chart to show at least 2 green candles (near resistance).
2) Then, I wait for the 1 minute chart to make a lower low (this is my signal to sell).
3) I then offer at the previous 1 minute low or when time and sales slow down (printing less green and more red).

Attached is the daily chart of SKF.

Here's a link to Daneric40's post titled " Bear Scenario - 688 by Tuesday" (Post was started on February 27, 2009):

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_U/threadview?m=te&bn=58157&tid=328796&mid=328796&tof=16&frt=2#328796

Here's a link to Inlet_boater's post titled " 28 Feb cycles update":

http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_U/threadview?bn=58157&tid=329399&mid=333145

[mdszj]

thx Jeg

That was a good post, regarding using the 5 min and then the 1 min chart.  I like the 5 min myself, and also like to check out a couple longer time frames.

more later

[Ares]

I decided to log my trades at the SKF board later in the day:

http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_U/threadview?bn=58157&tid=334100&mid=335195

The reason I did not mind trading SKF near the high of day yesteday (intraday) was because I was counting on the Slow stochastics and MACD positive cross signals yesterday (on the daily chart).

However, today SKF looks like it is entering an overbought condition.

Price also is trading below the steep uptrending line.

Will SKF do a last push up (and try to hit the steep uptrending line) before the daily slow stochastics roll over (downwards)?

We'll have to wait and see.

Happy trading and good luck.

[Ares]

All out of SKF!!!

http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_U/threadview?bn=58157&tid=335554&mid=336289

Most likely I will start a new position again today.

SKF did test the steep uptrend line mentioned yesterday.