Trading The SPI - NON-Gann Techniques

[Trembling Hand]

And Im not seeing any pros entering anywhere.

 

[skyQuake]

Anybody else amazed by whats happening in Asia today?

On top of serious losses already, Japan down 6-7%, Hong Kong 9-10%, Phillipines limit down 10% etc.

And Im not seeing any pros entering anywhere. Not the serious volume Ive seen on previous slides.

There's only so many 10 % down days left before we hit zero.

I wonder what happens then..

Last few months has been an orderly exodus for the exits. We are seeing the beginnings of a panic now. I reckon there are a lot of long term investors bailing out - They've experience years of free divvies cashflow... But now that's in danger as well as their capital.

 

[MRC & Co]

Yeh, there is no doubt about it, panc is really setting in now. I thought it would be another several months at least until we saw some kind of true panic set in. But obviously not. It is brutal watching it every day, great for us scalpers, but to think about all those with their life savings turning to nothing, is sad.

 

[Broadway]

I mean large block trades, or clusters of volume to signify the start or ends of trends. But ofcourse professionals could be using smaller volumes as well.

eg, there was a trend down most of today which started at 12 midday, which I suspected coming because of a large block trade on BHP at that time (amongst other charts). This trend also included a 2000 point drop in the HSI, which I'm sure you noticed TH. (and no I didnt catch the whole trend).

SPI went down 200 points after this BHP hint (took 7 hours). I felt the trend ended when SPX gave me some volume around 7pm tonight. SPI up 70 so far from the spx hint. These hints I call pros. Helps a bit with the spi. Doesn't work all the time ofcourse. But when multiple parrallel running charts show large block trades, I'll see that as an entry.

 

[Trembling Hand]

. But when multiple parrallel running charts show large block trades, I'll see that as an entry.

Broadway who executes large block trades??

And why do you give weight to one side when its takes two to trade. Obviously two equally large players.

 

[acouch]

good morning all
today's road map
have a great day and good trades
ac

 

[Broadway]

Broadway who executes large block trades??

And why do you give weight to one side when its takes two to trade. Obviously two equally large players.

I borrowed the idea from here

http://traderfeed.blogspot.com/2007/02/how-you-can-track-stock-markets-large.html.

and about half way down this link, under block trades.

http://highprobability.blogspot.com/2007/03/high-probability-trade-setups.html

I admit it doesn't work all the time, especially on the spi's volume chart, but bhp and rio give good hints towards future spi moves.
Im not sure exactly how it happens, but I thought it was 1 professional on 1 side who sees the next long trend coming, and on the other side is multiple smaller traders who dont see it coming. But happy for you to educate me.

 

[Broadway]

The spx entry seemed to work well last night. I couldnt stay awake for the whole thing, but the world just seems to be 1 big long 24 hour chart these days. Indexes open and close but they mostly fall in line eventually.

Serious TV time goes on with these trades. Very boring.

 

[MRC & Co]

How did the SPI trade today TH? I hope it was a flicky, wide spread, horrible day. ha ha, missed it on my sick bed.

 

[acouch]

good morning all
todays road map
have a great day, and good trades
ac

p.s hope you are feeling better mrc

 

[MRC & Co]

Thx acouch, I am a bit. Ready for a big day on the SPI

 

[acouch]

good morning all
todays road map
have a great day and good trades
ac

 

[RobinHood]

how are you scalpers doing on a day like today?

I haven't been watching the whole day, but just now I've seen lots of icebergs 69, 160, hitting bid / taking the offer and price not moving up/down.

 

[MRC & Co]

Not that good, but not bad either. Up 43 ticks, 123 round trips at 3 bucks per round.

Just got cained though, S&P broke out of it's flag, SPI went also, loaded up long and got squeezed, lost 30+ ticks on that. At least there aren't huge spreads today, compared to last couple weeks anyways, so it's possible to scalp and still keep your average winners above your average loosers!

Someone was capping the SPI earlier, selling into those trying to buy the S&P first rally.

 

[acouch]

good morning all
today's road map,nos not much different from yesterday
except a few more upside. and a few less downside..
lis has risen up 30 to 3997.
have a great day, and good trades
ac

 

[MRC & Co]

Yesterday was a pretty good day in the end, easily 200+ ticks to take away on only 1-2 lots.

Today was good at the open, but rest of the day has been a heap of false breaks of false breaks and hard trading, just taking little bits here and there to keep it in the green. Up 33 ticks so far after 83 round trips (missed the open ).

 

[acouch]

good morning all
Monday's road map
have a great weekend and take care
ac

 

[MRC & Co]

Tough one on the SPI today, how any of you other traders go?

I managed 54 points after 169 round trips. So not bad, but most of that came in the morning. After that, was extremelly tough.

 

[Reealjrd]

I don't know much about SPI but i can say that the market for Monday 03.11.2008 is uncertain and vol ital.

 

[acouch]

good morning all,
today's road map
have a great day, and good trades
ac