I stand corrected, it did have positive slope several times in 2012. The last positive slope was on Halloween in 2012; so it has been sloping down for well over a year until today.
For the first time in the entire history of Skullcandy.............drum roll............the slope of the simple 200-day Moving Average turned up.
Happy days are here again, fill up your mug with beer again.....
Macy's has been in a strong uptrend since Dec 2008, but if you really want to short it you need to wait for a sign of weakness (SOW) in this current trading range (TR). The TR is defined by the low of Dec 6th at 51.14 and the high of Dec 9th at 54.58.
The relationships of Price and Volume are ancient trading secrets that they don't want you to know about. Richard Wyckoff wrote about it back in 1913 and into the 1920's. Have you been looking for my posts on hotstockmarkets?
As I understand, the VXX is an ETF that emulates the VIX, the S&P volatility Index. I've been told it is the WORST trading instrument on the planet because it does a REALLY BAD job of tracking the VIX and because the net asset value grossly understates the true value of the VIX. I'd stay away from it.
Sorry for the late reply; been busy. I never know if you're ribbing me but I'll give my take on the WYY chart anyway......It's a good setup obviously. It hit a high of $1.65. The move from 0.76 to 1.63 was a onepoint272 extension of the move from 0.45 to 1.14.
That 1.65 high was on very high volume on the daily, weekly, and the monthly charts which says it will be right back up there to test it again after it consolidates the recent enormous gains.
Ford makes money too, but look what happened to their price recently. Same setup....a distribution trading range.
There's been a lot of media pumping of ebay lately, last weekend the Barons article, the week before that CNBC was running ebay infomercials. They don't do this to convince the large investors, they do it, they pump, to convince the mom and pops.
You think you can know all there is to know about the fundamentals but you can't. The big money boys have access to better information...and they are dumping....I wouldn't fade them.
4-year cycle.....Feb 2009 to the peak in April 2013.....it's been in distribution since then.
Up on light volume (pump) and down on huge volume (dump). The big whales are getting out.
ebay went up 486% from its $9.91 low in 2009. Since its high of $58.04 in April of 2012 it has been in distribution by the big money boys. On the weekly chart 4 Signs of Weakness in 2012 are self evident, big down weeks with big volume.....the big boys are dumping.....handing off to the public...the weak hands.
I track three smoothed ROC's (rate of change indicators), the 6, 12, and 24-day smoothed ROC's all bottomed yesterday and turned up today because of the stopping candle today. When all 3 turn at the same time it is very bullish. Need to see some follow thru to confirm.
Just to clear that 5.45 mid-TR line is important support. It closed today just above it at 5.46 with a stopping-action candle, a spinning top doji.
It filled the remaining open gap of Sept 6th, 5.45 to 5.48.
The last stretch above the 20sma was about 50 cents, today it got stretched below the 20 by 47 cents. Expect reversion to the mean.
5.45 is the mid-line of the trading range that began back in March. The TR is between 5.06 and 5.84 with mid-line of 5.45.
On the daily chart there is an AB=CD down. A = 6.68, B = 5.70, C = 6.10. These would give a D point of 5.12 for an AB = CD, however on this C to D leg it did not take out the B point (5.70) with greater volume which says the probability of completing the AB=CD is low. The B-point volume was 332k versus 264k on Monday the 9th.
On the weekly chart, the low-print stick was the week of 4/29 with low of 4.80 and high of 5.37. So far this week it has tested that stick with a low of 5.36 and has so far closed above it. The volume the week of 4/29 was 4.85M. The volume so far this week is 1.08M. Extrapolating to the end of this week, 1.08 x 5/3 = 1.80M. So it is coming into the low with 1.80 vs 4.85; not even close and not enough to bust lower.
Sticks...candlesticks....bars. On your chart what are you mainly watching.....bars that print every minute or every 3 minutes or every 5 minutes, etc.
So far so good rurk.....excellent call. What is your primary stick interval? 1, 5, or 10 min sticks? Thanks