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Silent Service Method

  • #9,821
  • Jul 18, 2010 10:20am Jul 18, 2010 10:20am
Quoting egkid
Something i read it thought to share
“If a man will begin with certainties, he shall end in doubts; but if he will be content to begin with doubts he shall end in certainties.”

Happy new week to all full of green
Trade safe
Egkid
Well put. Point taken by all I am sure....
  • #9,822
  • Jul 18, 2010 10:31am Jul 18, 2010 10:31am
Quoting clockwork71
Well put. Point taken by all I am sure....
Hi
How is life?
Weather here Very Hot never seen summer like this , weather really Changed!
  • #9,823
  • Jul 18, 2010 12:52pm Jul 18, 2010 12:52pm
Quoting egkid
Hi
How is life?
Weather here Very Hot never seen summer like this , weather really Changed!

Same, it's blazing hot out today. It's been 90's and humid lately in Columbus.
  • #9,824
  • Jul 18, 2010 2:29pm Jul 18, 2010 2:29pm
Quoting InfinitySL
Low -

Just thought you should know, you printed a pin on the weekly...

What's up w/ that??
Must be some kind of bear market or something, I thought we were both doing OK.....

http://i27.tinypic.com/28b4c4y.png
  • #9,825
  • Jul 18, 2010 2:40pm Jul 18, 2010 2:40pm
Quoting Low
Must be some kind of bear market or something, I thought we were both doing OK.....

http://i27.tinypic.com/28b4c4y.png
Yeah, Infinity is looking kinda cheap these days I must admit!
  • #9,826
  • Jul 18, 2010 3:49pm Jul 18, 2010 3:49pm
Quoting egkid
Hi
How is life?
Weather here Very Hot never seen summer like this , weather really Changed!
Hi Egkid, well you should know according to alternative "expert's" studies, accidentally but genuinely funded by the establishment, it all doesn't exist or it is not proved that it is human induced so we can just keep going as we always have until it is proved without any doubt, and most certainly too late to do anything about it....
Isn't it funny, with all those oil wells on the Gulf, you would think that they always had some sort of plan in place for when a disaster like this happens....
Irrelevant to this thread i know, i just couldn't help myself, please delete if you feel so.
Biggest joker
  • #9,827
  • Jul 18, 2010 8:09pm Jul 18, 2010 8:09pm
This isn't directed at any one person in the thread, but I have been asked several times over the course of the last year the same question about my group: "When do you put signals out, and normally how many times a week?"

The answer is simple: I don't. I am not a signal service. I don't do it for one main reason: People expect signals all the time. It's always a matter of having thousands of trades a month.

I try to teach that there isn't always a trade to be taken. I know some of you guys know this.....but I still get asked those questions all the time.

When I explain to them that I am out of the market just as much as in, they normally move on.

Sorry to bitch, but it happens so much, I thought maybe I would put it out here in the open so hopefully people will know I'm not their man for signals.

Besides, most signal services sell to people who can't afford them to begin with.

Ok, off the soapbox, as you were.

;-)

Chris
  • #9,828
  • Jul 18, 2010 8:13pm Jul 18, 2010 8:13pm
Quoting clockwork71
Yeah, Infinity is looking kinda cheap these days I must admit!
These days? I've been cheap my entire life. Just ask my wife!

I know most of our focus has been on the Euro these days, but what about the JPY? Man oh man... They can't be happy about where that is trading these days. Then again, (and someone more knowledgeable please correct me if i'm mistaken) aren't they on their 5th prime minister in about 5years over there? Do they have the political/financial leadership to really stop this thing from just crippling their export-driven economy? Think of how much cheaper Chinese goods look versus JPY goods with all of this currency strength.

All of this pontificating is leading me to a question... Should we be looking more at the EURJPY? It's trading below it's panic-2008 lows. I'm not a huge fan of the pinbar from 3wks ago, but if it falls back below that... Could be an interesting play. Trend is certainly lower...

Anyway, no trade signal or anything, just something to keep an eye on.
  • #9,829
  • Jul 18, 2010 8:32pm Jul 18, 2010 8:32pm
Quoting clockwork71
The answer is simple: I don't. I am not a signal service. I don't do it for one main reason: People expect signals all the time. It's always a matter of having thousands of trades a month.

I try to teach that there isn't always a trade to be taken. I know some of you guys know this.....but I still get asked those questions all the time.
Chris,

I think the people who want a signal service are those that don't want to do any work for themselves. It's the old expression "give a man a fish, he'll eat for a day, teach a man to fish he'll eat for a lifetime". While, you've been known to give a few free fish away from time to time I think you're more about teaching people the methods that make for successful trading.

That being said, the people who want a signal service are probably not the type to read through 600 pages of posts and actually read the one you've just written...LOL

And don't apologize for b*tching...it's your thread!!
  • #9,830
  • Jul 18, 2010 11:10pm Jul 18, 2010 11:10pm
Quoting InfinitySL
These days?...
Japan is in it knee-deep. If the Yen keeps going the way it has been, they will have to intervene. There really isn't any suspicions that they are getting ready to, but they will sooner or later. The Yen is really hurting them right now, and sooner or later something has to be done.

And you are correct - EUR/JPY is really the one to punish if you get a signal.
  • #9,831
  • Jul 19, 2010 2:53am Jul 19, 2010 2:53am
Quoting clockwork71
Yeah, Infinity is looking kinda cheap these days I must admit!
What software is that guys?
What does it allow you to trade?
Thanks
John
  • #9,832
  • Jul 19, 2010 2:57am Jul 19, 2010 2:57am
Quoting jicjoc
What software is that guys?
What does it allow you to trade?
Thanks
John
It's freestockcharts.com. I believe you can trade off of it, if you have a broker whose feed it supports, but otherwise is just a delayed-data feed for almost any US stock.

It also remembers any TA stuff you put on your charts, so it's always there when you log back in.

Edit: it only supports TDAmeritrade. Still great for charting.
  • #9,833
  • Jul 19, 2010 3:18am Jul 19, 2010 3:18am
Quoting InfinitySL
These days? I've been cheap my entire life. Just ask my wife!

I know most of our focus has been on the Euro these days, but what about the JPY? Man oh man... They can't be happy about where that is trading these days. Then again, (and someone more knowledgeable please correct me if i'm mistaken) aren't they on their 5th prime minister in about 5years over there? Do they have the political/financial leadership to really stop this thing from just crippling their export-driven economy? Think of how much cheaper Chinese goods look versus JPY goods...
I'm waiting for an entry on the weekly next week. Bit of a doji just below s/r last week so if this week closes below last weeks low then I'll probably take the short. I suppose a lot depends on whether eurusd is going to hold at 1.30 or break on through to the other side.
Position trader - Anything intraweek is just noise...
  • #9,834
  • Jul 19, 2010 4:41am Jul 19, 2010 4:41am
JPY: I strongly believe they will intervene. and I dont want to stand in their way

exactly, thanks chris for teaching us how to fish
  • #9,835
  • Edited 7:37am Jul 19, 2010 7:24am | Edited 7:37am
Appreciate comments on this stock.

I'm looking to short with a target of 17-ish.

BTW Chris - the blog is great - keep it up.

Attached Image (click to enlarge)
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  • #9,836
  • Jul 19, 2010 7:47am Jul 19, 2010 7:47am
Quoting stewrigh
I'm looking to short with a target of 17-ish. I like the chart and earnings disappointed last week!
I didn't think their earnings disappointed at all:

 

  1. They had their highest quarter of EPS/Net Income ever
  2. They had their highest revenue quarter ever
  3. Their gross margins were much higher than anticipated
  4. And they raised their guidance (for revenue, EPS, and margins) higher than the street was predicting on a going forward basis.

Don't get me wrong, their stock could go down (maybe a lot), but I think a bet on INTC going down is basically just a bet on the general market going down. Intel specifically had a great quarter as did AMD their main competitor in the computer processing space.

Ignoring fundamentals...$19-$20 should be pretty good support, so I'm not sure about how much upside you would have in this one (unless the market starts heading dramatically lower). If it cracks $19, $16-17 is certainly attainable.

That's just my 2c. (and in case anyone cares, here's my chart...)

Attached Image (click to enlarge)
Click to Enlarge Name: 2010-07-19_INTC.png Size: 68 KB


Oh and one other thing -- If you are short this stock you'll be liable for the 15.75c dividend that it pays at the begining of August. (granted, not a huge number, but something to consider)
  • #9,837
  • Jul 19, 2010 8:32am Jul 19, 2010 8:32am
Quoting InfinitySL
I didn't think their earnings disappointed at all:

 

  1. They had their highest quarter of EPS/Net Income ever
  2. They had their highest revenue quarter ever
  3. Their gross margins were much higher than anticipated
  4. And they raised their guidance (for revenue, EPS, and margins) higher than the street was predicting on a going forward basis.

Don't get me wrong, their stock could go down (maybe a lot), but I think a bet on INTC going down is basically just a bet on the general market going down....

Hi Infinity,

Thanks for your comments - yeah ignore the bit about bad earnings - I got my wires crossed with a different stock.

BTW I'm in the Uk and I'll short using a CFD - don't think you can do that in the States but its a derivatives market so dividends don't count.

Re the market - yep I'm bearish all the indexes atm - lol.
  • #9,838
  • Jul 19, 2010 8:36am Jul 19, 2010 8:36am
Quoting stewrigh
Hi Infinity,

Thanks for your comments - yeah ignore the bit about bad earnings - I got my wires crossed with a different stock.

BTW I'm in the Uk and I'll short using a CFD - don't think you can do that in the States but its a derivatives market so dividends don't count.

Re the market - yep I'm bearish all the indexes atm - lol.

This is correct. In the "Land of the Free, and Home of the Brave," we cannot trade CFD's.

It's our government's way of protecting us from ourselves.
  • #9,839
  • Jul 19, 2010 8:51am Jul 19, 2010 8:51am
Quoting clockwork71
As far as the EUR - The size is fine with me....because of where it's at. Perfect place really.

Chris
Did you short the euro in the end?
  • #9,840
  • Jul 19, 2010 8:52am Jul 19, 2010 8:52am
Quoting clockwork71
This is correct. In the "Land of the Free, and Home of the Brave," we cannot trade CFD's.

It's our government's way of protecting us from ourselves.
It's it amazing? You can buy/sell a currency @ 100-1 leverage, buy/sell a commodity at 15-1 or 20-1 leverage, buy/sell options (which are effectively a leveraged play on a stock), but can't buy a CFD. I never understood that.

Oh and unless you have over $25,000 in your broker's account, you can't do more than 3 day-trades in a one week period.

The US has some dumb rules, that's for sure...(And don't even get me started on why it's OK to bet on horses over the internet but it's not OK to play poker or bet on a sporting event)
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