My system here is finally taking a bet on Europe with short $EWG based on July put buying. https://www.techtrader.ai/wall/?date=1464167626&post=9460 EWG 7/15/2016 24x Puts, 20000@$0.4 MV: $0.8M | $Not.: $13.8M | OI: 16163 | 10.0% TotalOI 31.6% StockVolume | 98.7% OptionVolume
How do I start investing in robots? http://www.bbc.com/news/technology-36376966 If robots learn to lie, then they'll even be able to replace spokespersons. brb focusing on higher value-added elements
The increase in volume was met with "absorption" candles (notice those long wicks at the bottom of each). That means there was a lot of covering and buying in there. The big v-shaped recovery basically signaled that shorts covered quickly.
Yo @pftq - you still holding your AAPL position? I got impatient and sold mine (entry 92.18) at 97.00 like a clown show. Regretting every second of it. Gap fill to that 104 area looks inevitable at this point. There was a TON of absorption from 97 down to 90.
There were a lot of these monthly "absorption" candles in 2001-2002 and 2008 also and the index still kept going down - a lot larger percentage loss than Q1 2016. volume also increased...just sayin'
FINALLY gold is not down, holy crap man, i took a old school but whooping haha, lets see if this ebounce holds
If we go by your logic using just those sets of dates in contrast with what we saw in the rally and other times where the exact same phenomena occurred - then there's no edge in looking at the increase in volume. It would be an oversimplification to view volume that way, unless previous and ensuing rallies/declines are also analyzed within the framework of the "structure" of the move these last 7 years. Which is why some of us also utilize Market Profile and/or Volume Profile. After nearly 6 years studying sell climaxes - the edge goes with the current trend until proven otherwise unless the "structure" of the upmove is poor.
What is the current trend? We can only decide that for ourselves depending on our own rule-set of what we think works, or doesn't, each day. I don't see higher highs. On the weekly I see lower lows and lower highs. On the monthly I see a lower low and lower high followed by a "slightly" higher high and low (using closes). On the monthly, at times when the SPX broke through the lower BB, it signaled a new bear - going back 30 years. I acknowledge nothing goes straight up or down but volume is only one thing I am looking at and I do feel it is important. I'd like to learn more about what your analysis has taught you to look for. How do you use Market Profile and/or Volume Profile?
Yeah I'm still holding AAPL. My system is looking at resistance at $112 area, so it's a longer term play. There was a lot of accumulation based on the volume like you mentioned. See below chart.
Crude oil is breaking out over $50, and durable orders with a YUGE beat today. Probs a snoozer day for Mr. Market.
the market consolidated/went down for like almost 2 weeks, now it is bouncing, if you look at the market profile, the past 2 days have made "P" formations, meaning short squeezes, usually when the market breaks out of consolidation, you have to agree with the move until it is finished, how high can we go? no clue, but for right now the trend is now to the upside.
looks like we are back to the usual selling of biotech. i think ive made more money from selling calls against my opk all year than i have actually profits from other trades 0_o....
$LGF basically a free gain this morning opening at pre-earnings price of $19.76; was above $22 yesterday after hours. https://www.techtrader.ai/wall/?date=1464238226&post=9463 Call buyers that got us into the stock in the first place are targeting $24 strike for June. LGF 6/17/2016 24x Calls, 3400@$1.2999 MV: $0.4M | $Not.: $3.1M | OI: 1583 | 10.9% TotalOI 3.8% StockVolume | 54.5% OptionVolume
