Holy shit! BBOX bid just dropped 40 cents in a minute! that's why I don't touch stocks I don't know, AMAZING
[12:54] <Brandon> let me know when you guys have the URL up [12:56] <Brandon> 12:56:04 BUY ALERT : SP/ES/SPY above 1083 [12:56] <Brandon> stops under 1079.5 [12:56] <Brandon> ok to BBOX [12:56] <Brandon> lets look at the chart[12:57] <Brandon> again we have a fairly simple setup [12:57] <Brandon> I try to keep everything as simple as possible [12:57] <Brandon> at the beginning of this chart you see a downtrend in place [12:57] <Brandon> and then into the close yesterday/todays open [12:57] <Brandon> BBOX had a nice run which broke that downtrend line [12:58] <Brandon> one thing that I talk about a lot is that the first move is the best one to be in on [12:58] <Brandon> and BBOX is just a good example of that [12:58] <Brandon> it broke its trend line [12:58] <Brandon> running very strong [12:58] <Brandon> and nothing can run strong forever [12:58] <Brandon> its got to rest [12:58] <Brandon> you can see that it pulled back for serveral 30 minute bars [12:58] <Brandon> and not only was it pulling back [12:58] <Brandon> but the volatility was coiling as well [12:59] <Brandon> so we have two things working with this [12:59] <Brandon> and overall breakouts have not been the party they used to be [12:59] <Brandon> but when you take them off coils in volatility [12:59] <Brandon> and a first move [12:59] <Brandon> you will tend to be ok Brandon
What I like also about trading a basket correlated to the futs is that the stocks can confirm or show some divergence with the futs and it helps to determine if the market is going to move or is going nowhere . right now the market starts to aggravate me may go higher but chopping around. SOX is weak and a big move out of the open after several day down is suspicious.
I would agree on each count there. The ND and the SOX are like dancing partners, if one falls over it tends to drag the other with it. I also like to watch the top and bottom 10 stocks in each index based upon its %change since the open. If it does not confirm what the index does, then that is almost always a good signal. Right now the market does not bother me too much. The TRIN is low, the TICKs have been strong and stayed positive territory all day. That said, the market will have to prove itself to me before I do anything with it. Brandon
Im going to pass on the ES break above 83. Its been a nice day in both equities and indexes, a few of which I was able to point out here to you guys. Im going to step out early. Have a great evening. I'll be back tomorrow. Brandon