23 thoughts on “CHART OF THE DAY

  1. toni

    Peter Brandt tweeted “Many chartists look at $DX_F and see a top. I look at it and see one of most exciting longs for months ahead”. It will be very interesting to see who is gonna be finally right!!!.

  2. Jay


    Thanks for the reply in the previous section. What percentage of your trades are day trades versus trades that you hold overnight?

    1. tom

      Jay – When I was a floor trader, it was almost exclusively in/out same day. And if I held overnight, I would hedge with way out of money options for worst case. When I left the floor, I went to about 75/25 daytrade/hold.
      Now I have other passions in life, and I don’t spend the time on markets like I used to, so I day trade now just to keep sharp and focused, but more long term stuff and also some very long term stuff. Much less intense that way. But, basically, day trading is a young man’s game and just about everyone should avoid it as a “profession”.

  3. MuffinTop

    And under ‘normal’ circumstances everyone would be bearish right now but remember.. The FED has a printing press and because of that the correction was aborted prematurely.

    Don’t get me wrong, I’m still very cautious but also quietly Bullish ?

  4. AlexP

    It is 13:25 EDT
    WATCH OUT! Another great intraday shakeout via another harmonic pattern, this time very visible on NASDAQ –> STOCKS ARE TO ERUPT THIS EVENING TOO AS BUYING IS NOW SET TO ACCELERATE & ACCUMULATE !

    PS: after the success with ABMD (to mention the most fruitful) , could not resist the temptation and added another small stake in RUBI this time. Fantastic stock RUBICON — it is gonna prove a major leader even as it is not on regular screen (IBD. zacks etc)!

  5. AlexP

    Please folks, do not hesitate to take part in this new bull as we are relatively fresh into this stocks daily cycle!
    The bull reinforces itself more strongly with each intraday shakeout produced by money managers !
    Do not get fooled and get on board, please!
    For swingers –> opportunity to get on now and dump on FOMC day.

    The more bears lose the fight with money managers by seeing themselves fooled with these constant shakeouts, the angrier they become and they WILL RESORT SOON TO VINDICATION BUYING NEXT WEEK AND THE BEGINNING OF THE OTHER! …And there we will see the BIIG MOVES UP!

    PS: Rubicon Project I touted before benefits relatively little institutional buying while having indoor already major names such as ROSS & CO and RENAISSENCE. It will report on Oct27 major achievement while it is the sole provider on the market of what it does – fantastic catalyst!
    This is a longer term keeper. It may triple in 1y from now

  6. AlexP

    …just took a quick glimpse on IBD to share with you: RUBI is ranked #13 in its industry with FLTX top-dog marketed on all fences as a growth stock.
    What retailer would look and actually buy a stock ranked 13 ?!! Barely any fool … until it hits top3 list and there, boooy, in the spring of 2016, I’ll have my pockets loaded with RUBIs 🙂

  7. AlexP

    you wont be disappointed, victor 😉
    today’s shakeout in RUBI set a low that will never be seen again by this stock !
    It will pierce 200dma next week alongside braod indexes.
    It’s almost a fact since Jim Simons’ RENAISSANCE TECH and ROSS realize they can no longer accumulate slowly and step up prices upon HUUGE volumes.

    Other institutional money will come as price action will draw the attention of investment analysts of other money managers “what’s the story of this stock that it blasts roofs ?!!”

    PS: biotechs are gonna be great leaders, I CAN SNIFF THEY WILL MAKE A HYPE SECTOR ! The fantastic shakeout at the end of Sep is one of the evidences of this future-to-be.

  8. mike trike

    Do some research on Rubicon before you buy! Read what Brent Cook has to say about it. Otto at IKN posted some of Brent Cook’s thoughts on Rubicon yesterday. I have a feeling that it could turn into another San Gold. There is a good reason the share price is DOWN. If you don’t have much experience in buying miners then stay away from Rubicon and buy GDX when it fills the gap at $14.50.

    As far as the conventional markets go…look at a chart of $SKEW. Look at Jesse Felder’s twitter feed for today. He retweeted a SKEW chart that perfectly alligns with tops in the market….such as now.
    Yesterday on zero hedge was a story titled “Tomorrow Is OpEx: What Happens Next?”
    Look it up, it fits in nicely with the SKEW chart. I didn’t post the links because I am not sure if links are allowed in a first post.

    The COT released today is horrible for gold and especially silver. Looks like a top is in or close.
    Do some research before you jump into this market and avoid individual miners unless you have the knowledge to pick companies that will survive in the long run.

  9. mike trike

    My post was referring to Rubicon Minerals, not RUBI , The Rubicon Project.
    Sorry for any confusion.

  10. AlexP

    …no problem, mike. anyway, RUBI is not my company…or well, it is :), but in an insignificant share 🙂

    one more tweet about my analysis on RUBI today:
    – any charter looking at it today would say that today was a down day –> close below the half of high and low on below-average but still above-the-other days volume.
    – actually this was a great accumulation day, THE MOST important accumulation single day of RUBI by Jim Simon’s RUBI-assigned trader: UNTIL 14 PM THERE HAD BEEN TRADED SOME 130K SHARES AND THE PRICE WAS AT THE LOWS OF THE DAY (THE END OF SHAKEOUT) WHILE IT CLOSED THE DAY WITH SOME 290K . So in the last two hours of this session money managers piled up in excess of the double volume traded in most of the day ……….

    they try to walk slow…it’s been working for them, but next week …well they will be exposed out of the forest as they shine LAAARGE on high volumes into the cover-less meadow.

    PS: CMN looks great too, also INGN. I’ve bought into them too besides ABDM that I had touted yesterday , but they all are temporary swings, they are no match for RUBI

  11. William

    Traders, hope you have booked your profits as i mentioned on gdx & nugt facing twin resistance on Oct 14th where HUI is unlikely to test 145 level this time around.


    However, if you have not been riding the trade since September, here is another change, pay attention to these possible correction targets in coming days:


    1. gary Post author

      Yes we did book profits on most of our metal positions. Gold made it’s first test of the 50 week moving average this week and will probably have to regroup for a week or two before it can break through that resistance zone.

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