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SPDR S&P 500 Message Board

  • rajs_89 rajs_89 Aug 10, 2012 12:41 AM Flag

    Advice from nyctom

    Tom,

    I have been reading posts on this boards for a while, and you are one of the few individuals that seems legitimate and genuine. I have seen you mention quite a bit about your overbought/oversold signals. Do you mind sharing how you have developed these bands?

    Your helps would be greatly appreciated.

    Thanks

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    • the info is worthles...its not even info....no firm lets you get free real time es futures data without you paying cme exchange fee...all BS

      for week:

      vol - <702,122>
      O/I - +43,797 contracts (doulbe from last week
      settlement - +13 index points

      longs still buying....would like to see + vol, but market wants to go higher...key trendline is broker

      see chart:

      http://www.charthub.com/images/2012/08/11/SPY_Weekly

      market is looking at breaking high...forget nytoms fantasy football TA, lol

    • "you are one of the few individuals that seems legitimate and genuine"

      WTF? I am Byron Sweenert, CEO of Brian Sweenert IP, intellectual property specialists? I defy you to point to anyone posting here who is worthy of so much as holding my jockstrap when I'm engaged in Times Square.

    • I have learned over time to consider that guy's advice and that guy's model as well. He has an interesting take. His model and strategy and model are less simple than mine. Complexity does not necessarily mean that he is wrong.

      In this particular case, his take seems to agree with my own. Now is a decent time to take some off the table.

    • he will never provide u any details about his strategy behind his signals ...ha ha ..nicely put ... they don't work..
      and he's here posting 10 articles in a day..and bashing some of his extreme fans or i mean haters, entertainer...nothing else..

      • 1 Reply to pathania
      • This is how I consider what is what. It's not perfect but it sure tells me the agenda.

        The only thing that pays me is price. Nothing else.

        Volume can only provide some liquidity if it's real volume so I have to start with prices.

        Then I use the biggest time frames and use some averages of price. I average the high, the low and the midpoints and the pivot.

        So I have been saying, 139.69.....do you really want to pay above that? Well maybe you do but I do not and what is 139.69?

        A yearly 2 sma. And that does not consider the premarket prices but if you want every print then you can and you get 139.91. So the question is? Do you want to buy the SPY over the 2 year average HIGH?

        I do that for the quarters.....the months and the days and the weeks......

        I average 2 3 and 4 sma because as far as I am concerned that is enough as a template.

        All of this creates extensions....So at the moment anyone buying over 140.82 is buying a 10 year average extension......sure, they can make it go up because we know they have all the stock. But, do you want to be the sucker that bought over 140.82 yet the first standard deviation away from the yearly mean is 138.56.

        So when I was looking for PCLN to give it up and it sure did, the 2 year average high was 668.42. Now it is down to it's 3 year average high of 588.31.

        I was looking for AAPL to get to 535. 535 is the 2 year average high. It made it there. They defended that level as I thought they would.

        AMZN I was thinking the clowns would take up near 245.08 but I was pretty sure that they would not go there quite yet. They did not disappoint me. Even though there was only a penny per share eps.......

        I do not buy in to the idea about the "trend" being up. I say it's all a paint job.

        If you have control of a stock, and you know that shorty is the cost of doing business then you pretty much know what your budget is to paint the chart.

        So let's say want to create a "trend" well you simply have to keep prices above in the case of the SPY 133.69, the 200 day sma HIGH. And now you have your trend.

        Maybe this sounds cynical, but I really believe that is how it works as much as some believe that earnings matter. I also believe that stocks are used to manipulate option prices.

        So when I see people get all giddy when they start buying above the highest 2 period sma I pretty much think, either they are crazy or they do not know where they are on the chart.

        And also, shorting under a significant average low can be just as dangerous.

        Look who got in trouble today shorting under 21.25 on JCP.......unwise.......

        21.25 is a 2 year average low........bet shorty is hating life for shorting under 19.97......a 10 year 127.2 range extension.

        That was a cover down there. Not a place to initiate a short.

        I do not post much on the board anymore because I see so much garbage and fighting. But I wanted to make a contribution.

        Last little diddy about how I do things.

        5 day average range.......

        10 day average range.......

        Short term stuff......volume profiles only show me what was but not what is.......I never assume that someone that was there, is there.....I only say, I will NOT BUY Average HIGHS and I will NOT SELL AVERAGE LOWS.

        Some of my post it pretty bearish, but if I know they have something to sell, it's no different when we were crashing and they were saying to not buy stocks again. At least Cramer was.....He was buying all he could.

        These guys are back in action again and this time they have Benny helping them....some people here really understand that.

        Why do you think that GS is a commercial bank? Because of the pretty bank tellers? I have yet to meet one.

        Peace to all.

    • that may be true, as no one can call absolute tops/bottoms. but indicators can tell "relatively" overbought/oversold, and that is the time to begin scaling in, one way or the other. the whole point is what gives you a relative percentage advantage.

    • I have a special nickel coin, head is overbought, house is oversold.

    • i, too, have an overbought/oversold indicator, based on RSI(6) but tempered by whether in an uptrend or downtrend (based on 40 day EMA). but, like you, i am innerested on what nyctom has to say.

    • either being sarcastic or having male crush? which is it?

 
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