Fear & Loathing In Trader Hell

[KingCAMBO]

OEX clawing it's way out of the distribution zone here - but its like trying to ice skate on water - it won't work:




1. Need to see a close above here IMHO to say we have a distribution range break out. This would open the door to 572 and then 575

KingCAMBO

[KingCAMBO]

Ok,
Interestingly enough OEX closed right on the distribution zone line. Fish or cut bait time. Tommorrow is the 3rd day in the three day OEX cycle - a/k/a as the SELL SHORT DAY. (See and learn the Taylor Trading Technique)

I am going to stay on the sidelines for the beginning of the session as I already had March 2nd and 3rd as a change or acceleration of trend date.

Decison areas for me now are 572 and 575. -OR- if they catch, capture or kill Osamma Yo Mamma! again... OEX 582.00
Batter Up!

KingCAMBO

[KingCAMBO]

Today - Tommorrow CIT Warning

Good Morning All - Today and tommorrow are important CIT dates in our cycle timing method:



1. Overhead Gann 1 x 1 angle resistance

2. Next square of 9 target on any ramp

3. Fibonacci MA support holding the 562 area

4. The BEARS have been zero line rejected on every attempt to take things lower

Good Trading!

KingCAMBO

[KingCAMBO]

Good Morning All,

Overnight Range: Pre market is flat of course as we head in to some BIG econ numbers this morning At 8:30. However Briefing is still reporting PPI and CPI as delayed. I am expecting a major shift in sentiment coming next week. It should become noticeable by Tuesday or Wednesday. Enjoy today while it lasts.

Day Of Week Notes: Friday is almost always the reposition day, and we often see late afternoon bargain hunters coming in to sweep up the collateral damage.

Today’s strategy: With respect to ES H4 and OEX specifically - Today we are in the third day of the three day cycle a/k/a the SELL SHORT Day. The objective today is take them higher to short them at or above yesterday highs, then enjoy the ride down. Being that we closed near the highs yesterday, I would expect today’s highs to come in first.

Current OEX Swing Trade Strategy: STOPPED OUT MARCH 570 PUTS: -1.20

Time pivots today: @ 8:39, 9:06, 10:02, 10:24, 10:51 11:48, 12:02, 12:16, 1:12, 1:38 2:23, 2:48, and 3:37 EST

GET THE FULL REPORT HERE

Cazart!
KingCAMBO

[KingCAMBO]

Perhaps one of the more insane sessions we have seen in quite some time. This is like the good old days.

EYES ON: OEX 572 OEX 575 OEX 582 - mega EXTREME

Key square of 9 resistance levels.


KingCAMBO

[KingCAMBO]

3 reasons why Gann died broke...

Well that was a LOVELY ride from 572 to 562!




1. 60 minute candles tracking the 2 x 1 angle. Price is moving twice as fast as time


2. Square of 9 562 target was a textbook place to cover


3. 1 X 1 main Gann Angle is now some thick resistance


Next Square of 9 targets 558 and 554



KingCAMBO

[FibbGann]

The Fun of Loathing In Trader Heaven. Have to love stocks with a low float. Riding it into the morning.

CBTE

Fibbgann

[KingCAMBO]

Overnight Range: Pre market is mildly positive heading in to trade balance @ 8:30 and wholesale inventories @10 AM. Bigger econ data coming tomorrow and Friday. And then of course we have the indefinitely postponed PPI and Core PPI due to some computer glitch which they claim now has to be tabulated by hand. Mother of God you just can’t make this stuff up! Where’s Beeks?

Day Of Week Notes: A twelve year study of the S&P futures contracts shows that Wednesday’s by and large are the choppiest days of the week. They are also the last favorable days to be trading. Wednesday can often times also be the volume day of the week.

Today’s strategy: With respect to ES H4 and OEX specifically - Today we are in the third day of the three day cycle a/k/a the SELL SHORT DAY. Today’s objective has two opportunities - there is a long possibility going up to at or through yesterday’s highs. There is a short of course from there, if and/or when we get a confirmed MSH formed.

Current OEX Swing Trade Strategy: LOCKED PROFITS MARCH OEB ON 570 PUTS. THESE MOVED +116% FROM THE ALERT

Time pivots today: @ 8:27, 8:49, 9:42, 10:16, 10:33, 11:03, 11:43, 11:54, 12:04, 12:46, 1:05, 1:27, 2:05, 2:43, 3:29 and 3:49 EST.



KingCAMBO

[soylent]

Just curious:
This three-day cycle is very interesting.

Do you know if the cycle 'inverts' ever? e.g. if we are in a downtrend, would the 'sell short' day become the 'go long / cover @ end of day' day?

Anyhow, I definitely can see a pattern but I'm not sure how to take advantage of it because if Monday was the 'go long' day, I would be having a bad, bad day...

So, that's why I wonder if they can 'invert'.

thanks!

[KingCAMBO]

Hi Soylent,

I does not "invert" no, but keep in mind that the targets for any given day are based on the prior sessions highs and lows. So you could conceivably have a sell short day that was even lower then the buy day was.

But the cycle always remains in the same sequential order. I.E. March 12th 2003 was a buy day - day 1 - if you will, and you keep repeating the count from there.

I know this sounds a bit twisted but it isn't. I have a series of articles that explains all this that I will be publishing to a free educational link later this month. I will post the info to this thread as soon as my web geeks get everything turned on.
best,
KC

[KingCAMBO]

You Have Been Distributed Upon...

Happy Weekend Everyone,

On Friday March 5th at 7:23 AM EST I published the following remarks in our MORNING CALL . "I am expecting a major shift in sentiment coming next week. It should become noticeable by Tuesday or Wednesday. Enjoy today while it lasts."

What happened??? Well, we sat and watched the OEX 570 PUTS go from $6.00 on that Friday to a paltry $28.00 the following Thursday for a mere +366% 1 week gain. Ahhh the AGONY.....

A shift in sentiment indeed. Methinks we have been DISTRIBUTED UPON

It has been exactly a year and +3000 DOW points since our last major Market Structure Low. Have we come full "cycle"? Lets bullet point the DOW WEEKLY and take a look:



1. Long sideways trading range at a top. Textbook DISTRIBUTION.

2. This is the first generated SELL tag in 52 weeks that closed BELOW the Gann 1 X 1 Angle on the weekly basis.

3. Decent weekly support for now - if that fails it's BANZAI time

4. The next Gann angle that could catch a falling knife would be right below DOW 9100.00

5. CCI already has tossed the first two cabanna boys over the pool deck, will the third one follow or get a zero line rejection?

Next important dates for a change or acceration of trend are March 17th, March 22nd - 23rd and March 30th - April 2nd.

Stay tuned!
KingCAMBO

[soylent]

>> You Have Been Distributed Upon...

Great post.

It's amazing how, in retrospect, this is what would happen.

Oh, had I just bought those $6 puts... Instead of the $6 calls...

If I'm not mistaken, Monday is the 'sell short'? So, that would mean we should break Fridays high then sell off?

Just curious -- thanks!

-c

[KingCAMBO]

Yes but watch out for that 60 minute MSL that formed Friday. There was a buy tag that got generated at 3:55 PM.

Take a gander:



best,
KingCAMBO

[KingCAMBO]

Listen To Livermore, Dammit!

Jesse Doth Sayeth:

Never act on tips.

Use a system and don't deviate from it.

Never buy a stock because it has had a big decline from its previous high.

If a stock doesn't act right don't touch it; because, being unable to tell precisely what is wrong, you cannot tell which way it is going. No diagnosis, no prognosis. No prognosis, no profit.

Don't blame the market for your losses.

Never add to a losing position. A losing position means you were wrong.

Stocks are never too high for you to begin buying or too low to begin selling. But after the initial transaction, don't make a second unless the first shows you a profit.

Always sell what shows you a loss and keep what shows you a profit.

Don't argue with the tape. Do not seek to lure the profit back.

Quit while the quitting is good--and cheap.

There is only one side to the stock market; and it is not the bull side or the bear side but the right side.

The speculator's chief enemies are always boredom from within.

A man must believe in himself and his judgment if he expects to make a living at this game.

Bulls and bears make money, but pigs get slaughtered.

Use money management at all times.

Establish your trading plan before the markets open.

Detailed your plan for each trade.

Establish entry and exit points and understand risk reward rations.

Accept small losses as part of the game if you want to win.

Trade markets from the short side.

Stand aside from a position, knowing you have taken a position.

Develop a trading plan for each potential situation you may face.

Do not look at quotes during the day.

Do not concentrate on break-even levels when you are losing.

Don't liquidate a winner to keep a loser.

Develop and maintain an exit plan. Follow this plan with rigid discipline.

Sustain your patience. Big movements take time to develop.

Don't be overly curious about the rationale behind a move. The key to wealth in trading is simplicity.

KingCAMBO

[KingCAMBO]

Welcome To The Last Day Of The Natural Year

Overnight Range:
Pre market essentially flat which is not that unexpected as we head in to another all day long - pass the peanut options expiration session. It is going to be a very low probability for success day, trading wise. More importantly, we have three major time cycles kicking in over the weekend, followed by another on Monday. My advice? Brace yourselves for very busy days in the coming month and don’t be surprised if you wake up soon feeling like the crash test dummies.

Day Of Week Notes: When the trend is bullish, and our MSI currently says that it is - Friday is almost always the reposition day. Today’s triple witch probably negates that “usual” activity.

Today’s strategy: With respect to ES M4 and OEX specifically - Today we are in the first day of the three cycle a/k/a the BUY DAY. Today’s objective has two legs: short if we get a “high made first”. Longs at or below yesterday’s lows if we get a “low made first. Generally what we see on Friday is, late day bargain hunter buyers, so the long leg of our objective will probably come last.

Current OEX Swing Trade Strategy: LOCKED PROFITS APRIL OEB DJ 550 CALLS. On the sidelines ahead of March 22nd-23rd CIT window.

Time pivots today: @ 8:41, 9:16, 10:04, 10:31, 11:12, 11:32, 12:04, 12:52, 1:37, 2:01, 2:32, 2:44, 2:55, and 3:31 EST.


GOOD TRADING EVERYONE!

KingCAMBO