Short note

17 December 2010 09: 35 by John yesterday, stock exchange moved higher, overbought pressure continues but the. Money is so far still positive flow on intraday time frames. I will also remain 5-min time frame on 15 min chart with advice.

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Short trading week

The past week could be by characterized by sharp decline in the market be opened during the first half of the trading session on November 15, 2010 and by strong progress during the first 30 minutes after on November 18, 2010. The rest of the time we had page through trade. Until the close of trading on Friday the indexes were (NASDAQ 100 and S - P-500 and DJI) just a little bit below their Monday's opening levels.

As I already on Thursday (see mentioned 2010 post 18, "Advance/Decline" in November), despite the strong ahead on this day will still indicate the longer-term charts (based on the daily bars) bearish sentiment. On the other hand, intraday time frame (with the exception of the hourly charts) have some bullish signals. Consider money flow 15 - and 30 min charts refers to the possibility of positive opening tomorrow.The index futures and EMINI index futures are traded more than bis.Wenn to half a percent on the same level night we face strong swing on the open market, up.

The week ahead range on economic Berichte.Die is only thing that can drive stock exchange in volatile trade not much FOMC minutes is on Tuesday, November 23, 2010 around 2 pm. In addition is no trading on November 26, and there is a short trading session on November 27.

There are a lot of attention has approximately $ last month was.S & P-500-index was highly correlated with $ index.We will most likely continue, the chances of the stronger beat this dependency to sehen.Ja that strongly overbought levels on the longer-term charts show indexes and many technical indicators including money flow that we correct hatte.Wenn US dollar rise continue as it went up against two week then the indexes decrease tiefer.Noch most likely, if the FED push US dollar lower, we may see again seen indexes to their high level in early November.

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Few short ideas

Comments(0)

While it feels like my system was much lately switching behaviour, it is important to know that this is something that happens with any market timing system.The last time we went bullish last week my main system when bullish, but my scan generates never really any decent Longs.Daher it is important to keep what determines whether your bullish markets is what determines whether your bullish on individual stocks, and sometimes not going one means to purchase the other.

Here are a few short candidates, although with 4 days down to the NASDAQ we tomorrow bounce could.But I open some shorts on the QQQQ's and bought a few Nachteile.Eine other Nugget, the ive replay in my system is when the markets I short the indexes immediately call short get because fear drives lower markets, and that is usually very schnell.Wenn I received a long call one in General a little more time, because it takes a little markets, while some bullish to gain traction and that are investors some time to search, large long stocks.

All of these should again their lows.

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Short Capital Gain Tax V/s Intra day Tax

Whether day trading is considered as short term trading and the same tax rate is applicable?What about the short term capital gains on profit made by me on intraday trading in stocks ?
How and when would i have to pay the short term capital gains. Is it allowed to deduct the STT paid, broker charges and AMC charges from my tax liability?

NO there is difference between the two day trading is considered as speculative income and you have to pay more on day trading as compared to short term gains.Share Trading is not speculation but Day Trading Square off the transaction in same day in Shares in speculation.Profit from delivery transactions and derivative trades is Non-speculative while profit or loss from jobbing is speculative in nature.Intraday trading in Cash segment is deemed as speculation, same as lottery or betting on horse racing.The tax rate applicable on profits from speculation income is flat 30%.

For calculating income-tax on short-term capital gain of listed securities, you are governed by section 111A of the Income-tax Act, 1961. Section 111A of the Income tax Act provides that those equity shares or equity oriented funds which have been sold in a stock exchange and securities transaction tax is chargeable on such transaction of sale then the short term capital gain arising from such transaction will be chargeable to tax

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Short Technical Analysis

Overall, the past week was positive on the market (see my "Volume and Money Flow" post on May 23rd, 2010). The only negative thing was the strong negative opening on Monday, May 24 of 2010. The first fifteen minutes of trading on that day were extremely bearish. Basically, because of these 15 minutes of bearish trading, the indexes (Nasdaq 100, S&P 500, DJI and other are only modestly higher than the previous week close on May 21, 2010.

This week I'm not as bullish as I was last week. Yes, taking a look at the longer term chart, the odds are good that we may see a recovery to the higher levels. However, on shorter-term charts we may see some bearish signs

What exactly makes me worry is that the volatility remains at high level and that many technical indicators (Money Flow indicators, Breadth Indicators, Stochastics, RSI, etc) on the hourly chart have turned into bearish.

Another thing that makes me worry is that during intraday trading at the end of the session on May 26, 2010 we had strong bearish volume surge. For short-term frame this volume was quite strong, however we did not see strong up-side reaction on that bearish volume. Only one day (on May 27, 2010) we had bullish trading. If we do not see up-side reaction on that volume tomorrow or the day after tomorrow then I would consider a possibility of retesting the Lows seen on May 25, 2010.

Posted byTraderJoeat10:18 PM

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