Comments on: SPY October 31 Intraday Support Resistance

By: Phantasmix

Phantasmix — Sat, 01 Nov 2008 01:15:30 +0000

Those are “signals”, they show the direction of the next move (believe it or not). I use these spikes and tails, too. 99.9% reliable 🙂

By: R

Sat, 01 Nov 2008 01:03:23 +0000

Just see 2 longest candlesticks between the SUP and the RES on your pic.

By: ducati998

ducati998 — Sat, 01 Nov 2008 00:27:22 +0000

Kat,

The trouble is, they fade them all day long. Difficult to discern a stop run, against a change in price action, unless it’s at the edge of some other measure, say a PP. [as you seem to use them]

jog on
duc

By: Phantasmix

Phantasmix — Sat, 01 Nov 2008 00:18:57 +0000

Ahha I see 🙂 makes sense. I’ve heard that before, though never pay much attention because I don’t like using stops (except trailing).

And during the day I only try to snatch the middle part of the move.

By: ducati998

ducati998 — Sat, 01 Nov 2008 00:14:06 +0000

Kat,

The theory of stoplosses is so well known and documentated, market makers will periodically run the stops to generate volume and almost guarantee themselves a profit in the process.

It’s certainly a fact of life, although never categorically “proven” in the markets.

jog on
duc

By: Phantasmix

Phantasmix — Sat, 01 Nov 2008 00:01:08 +0000

What do you mean?

By: R

Sat, 01 Nov 2008 00:00:15 +0000

what a barbaric stop hunting!