Inverted head and shoulders on the SPX?

paul_alan · Feb 27, 2009

how do i learn to trade like you? Do i need to buy marketdelta software or something? Or do i need to learn about options? Like if i google "resting inventory" only posts from you come up!

AMT4SWA · Feb 27, 2009

Best way to learn "delta" imo is to use Investor RT's "Volume Breakdown" tool set to cumulative delta candlesticks........then some screen time to watch how the order flow plays out at the areas of resting inventory.

AMT4SWA · Feb 27, 2009

GDP news out..........WOOOOOOOSH!!!!! :eek: .....to new yearly lows.

Scaling a few more 779.00 short entries out at 732.50.....next target will be at 722.50

Also, the 743's to 740.00 delta net long holders zone did go neutral by the 740.50 trade through.

AMT4SWA · Feb 27, 2009

Quote from AMT4SWA:

OK......all previously held LONG resting inventory is GONE as of todays trading! :eek: We took out the last Delta NET LONG HOLDERS zone so all bets are off......market is now in a tough position.

With that last run down today, I also took off another level of my Rydex 200% INVERSE S&P500 positions (as the ES was trading through the 742 level). My scale out was set for when the ES traded through the 735 level as the trigger, but I was happy enough with ES selling through 742's as I scaled out more Rydex positions so near the close. My next scale out level was set for a cover of positions as the ES trades through 715, but I have now moved that down to wait for the 708 level as the trigger.

AGAIN, price traded to the resting inventory (SIZE) and took that inventory neutral. There is NO LONGER any significant support to our market.......anything can happen at this point and the AH session tonight will be extremely interesting to watch.

Be very vigilant in your trading at these price levels with no significant suport near our current price. Maybe we will get some rotational cycling of price without a MAJOR new down leg BLOWOUT move in the days ahead. Well, we can hope......LOL!
More...

I have next ES target at 722.50 as mentioned before and I now just set my final ES target for 712.50.......next Rydex target I will still cover as ES trades through 708, if we have additional selling today or in the trade days ahead.

We have built up some newly initiated delta zone resting net LONG inventory today in the 729's to the 733's.......will have to wait and see if we get a test of this zone today.

stock_trad3r · Feb 27, 2009

no need to over analyze

markets should close up 3% today

AMT4SWA · Feb 27, 2009

OUCH......should have been SHORT! :eek:

.........and we close near the yearly LOWS.

MrDODGE · Feb 27, 2009

Quote from AMT4SWA:

OUCH......should have been SHORT! :eek:

.........and we close near the yearly LOWS.
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The morning lows were the 52 week lows.

SoCalTrader619 · Feb 27, 2009

Quote from AMT4SWA:

I have next ES target at 722.50 as mentioned before and I now just set my final ES target for 712.50.......next Rydex target I will still cover as ES trades through 708, if we have additional selling today or in the trade days ahead.

We have built up some newly initiated delta zone resting net LONG inventory today in the 729's to the 733's.......will have to wait and see if we get a test of this zone today.
More...

Any chance of posting a screenshot? I'd be interested to see all this from your perspective.

Dogon566 · Feb 27, 2009

Market internals up slightly... $VIX posted a closing high above 45.00 for the first time in several trading sessions...it's close is 46.35. It hit resistance at 8 sma (47.33) on the daily chart.
http://stockcharts.com/h-sc/ui?s=$VIX&p=D&yr=0&mn=6&dy=0&id=p23129100789&a=138587146&listNum=1

Great information AMT4SWA...keep it up!!!

foreverstudent · Feb 27, 2009

Stock tradr,

I can appreciate your experience with the no. of posts you have made here. Please explain what you based your recommendation on. As a student trader I would appreciate a short analysis of strategy for predicting a bullish sentiment today.

Thanks heaps