• jason2788
    Stop on SPXU at days low in case we break out fierce.
    12/29/11
    Reply (33)
    • jason2788: the easy trade at this point is buying all dips. the hard trade is shorting pops. maybe im stupid.
      12/29/11
    • jason2788: Sorry, meant SPXU at y'day's low.
      12/29/11
    • TonyNed: You are correct. When the Daily stochastics are ramping up, by dips, when sloping down, short rips. If you do the contrary you get hurt.
      12/29/11
    • TonyNed: We appear to be nearing an inflection point. If this bounce's move is predictable it means the sentiment is shifting to bearishness.
      12/29/11
    • jason2788: hard to really gauge anything this week with the low volume.
      12/29/11
    • TonyNed: Agreed. You need to be cautious
      12/29/11
    • Demi9OD: Tony what %K %D do you like for stochastics? 5 seems to be working better for me here than 10.
      12/29/11
    • jason2788: i won't hold SPXU over night in this environment. only my SPY short.
      12/29/11
    • TonyNed: I usually dont touch the 10 or 15. 5 is good for intraday. 30 minute is gospel for the S&P. I use 9,7,9 on the full.
      12/29/11
    • TonyNed: Gonna start playing options for the SPY based on the 30 minute chart. Did that yesterday successfully.
      12/29/11
    • Demi9OD: k period 9 d period 7, smoothing 9? That's weird if you mean it that way.
      12/29/11
    • brownlee30: SPY options on a 30 min chart.. hmm. i use 5 minute for general entry timing and 1 minute for entry..
      12/29/11
    • brownlee30: using 30 minute chart would be difficult without major price swings in SPY
      12/29/11
    • TonyNed: Demi, Im using the Full Stoch. I kept playing with the numbers until it smoothed out and the peaks and valleys correlated with price action.
      12/29/11
    • TonyNed: 5 minute is safer but I've noticed a strong correlation to the 30 minute stoch.
      12/29/11
    • TonyNed: the 1 and 5 should be looked at for the appropriate entry though.
      12/29/11
    • brownlee30: I currently use 12,3,5 on 5 min chart for SPY
      12/29/11
    • brownlee30: have been playing with it looking for a better combo. Demi, what do you use?
      12/29/11
    • Demi9OD: I haven't played with it much at all, 5 min chart with default 5/5/3.
      12/29/11
    • Demi9OD: Look for a 800+ $tick to buy puts and -800+ $tick to buy calls.
      12/29/11
    • brownlee30: 800?
      12/29/11
    • TonyNed: I like the 12,3,5 on the 30 minute.
      12/29/11
    • Demi9OD: Yes brownlee on a 1 min $tick chart. 800 symbols or more ticking up at once = program buying at the top.
      12/29/11
    • brownlee30: Tony, if you read the 12,3,5 on the 30 min, we have been over all day.. How are you then determining entry points for options?
      12/29/11
    • TonyNed: We have been getting nice price moves correlated to the 30 min chart which gives the strategy some potential if you use weeklies
      12/29/11
    • brownlee30: I use weekly SPY options, but usually only hold intraday and rarely over night..
      12/29/11
    • humahuaca: It's all Greece to me
      12/29/11
    • TonyNed: Overnight holds are scary especially in a news driven environment like we're in now.
      12/29/11
    • rmw4.0: Is there a site you use thats free to view these charts?
      12/29/11
    • TonyNed: Daily charts are free but for any durations less than daily or real time charts you will need to pay. I use stockcharts.com for $25 per mo.
      12/29/11
    • brownlee30: i use freestockcharts.com
      12/29/11
    • rmw4.0: Thanks brownlee
      12/29/11
    • brownlee30: no problem..
      12/29/11
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