You don't suppose he called his buddies and told them?

[Petrovale]

Crossed the 20- and 200-dma today. OBV doing well, MACD turning up, and RSI never really went negative -- as was the case in Q4 2012 time frame. Strong Buy signal for IOC on various market breadth indicators. Short activity on NYSE very low. Maybe MM is turning around. I think we're very, very close to deal news. Hession's intelligence, vision and communication abilities should help us significantly. I hope Trans will jump in this weekend. Best, Petro

[trans]

Lots of TA buy signals tripped this week. macd, slow stochastics, dmi, williams % etc. These should likely attract more buying as mkt screens are triggered for traders.
1. OBV has a big week, giving a volume reversal buy signal on close of 7/11. This is, imo, is my favorite trading signal, because it's pretty reliable for usually a 3-5 day uptrend. Can be more, and also may have a down day mixed in. Friday was Day 2 of the buy signal (on balance volume measures accumulation/distribution or trading on upticks vs. downticks). So day 3,4 and 5 will occur early to mid option expiration week (this week). There is a fairly high tendency for tues or wed to mark a trading high, then option bigs (mm's etc) work stocks into lower strikes usually or try to.
2. "ten days without making a new low" and holding in a fairly tight range buy signal occurred with 10 days on 7/9, meaning if no new low soon, stock should turn to the upside. 6/24 was first low 65.08 (successful test of low 7/2 of 66.51 also 2nd low).
3. I regard as quite important the double bottom lows and especially the "intervening price high", which becomes a key area to penetrate to the upside. That intervening high was 6/27 with a 71.8 high and 70.32 close. That intervening high was penetrated on the upside on 7/12, friday. This , imo, signals the completion of a bottom formation in IOC, or has a high reliability to signal that. OBV also confirmed with higher accumulation that intervening price high breakout . This is within the ongoing volume reversal buy signal hinting of upside into early/middle of this week, or maybe more
4.One last highly unusual event occurred on 7/11. I track nasdaq and nyse daily reported short sales vs. daily reported total sales. This excludes dark pools and I believe below 50% correlates with short covering (the more the more covering) and above 50% is likely more short sales. I also importantly separate the nasdaq and nyse transactions. I do this because I feel there are different players that habitually use either one. I believe the nyse is most often used by the market makers, such as Goldman etc. These daily trading figures have been running noticeably below 50% on both with the nyse figures higher and the nasdaq usually in the 30's% for about 3 weeks, imo indicating a good amount of short covering going on, regardless of price action, lids, etc. Plus I believe the shorts trade back and forth between themselves to control the price, and do a job with no news. The 7/11 nyse figures I deem significant, but only my opinion, they were 15,614 reported short sales vs. 123,837 reported total sales , or 13%. If I am correct in my assumptions, this is a very rare event , and to me, likely stands out as marketmakers getting noticeably less short, or more long. These guys are, imo , the forward observers of what's going on in the stock, holding the trading books and seeing all.......Another likely bullish sign, imo.
5. I'd be very surprised if something quite positive hasn't happened, and news should soon confirm it.
6. One last note. OBV is now +24.6 million. The OBV highs in the 90's/100's pricewise etc last several months has been in the +29 to +33 million area. So a trip back to the highs from here should occur on an accumulation of maybe 5 to7 million shares. Big news of an XOM deal or other can put IOC there in a hurry, perhaps one day to several days maybe
I also believe the stock will work even higher over a reasonable time from the initial deal news. Holding here, imo, will be the big winners by late 2013 to mid 2014, (and more deals ahead, as well as drilling).
Ok, that's about it, regardless of how it unfolds, good times sure look likely ahead again.

[trans]

Make that the lower short sales the more covering (not more)

[tarulestheday]

Thanks Trans for a superb TA analysis!

[Palm]

Agree; great job Trans.

[efi426hemi]

Thanx Trans, I wanted to give you a positive rating on that outstanding post however it appears that ratings are capped at 5 per day.  Someone should fix that.........oh wait........

Keep it on Ice,

Hemi

[j.coolaid]

Lots of TA buy signals tripped this week. macd, slow stochastics, dmi, williams % etc. These should likely attract more buying as mkt screens are triggered for traders. 1. OBV has a big week, giving a volume reversal buy signal on close of 7/11. This is, imo, is my favorite trading signal, because it's pretty reliable for usually a 3-5 day uptrend. Can be more, and also may have a down day mixed in. Friday was Day 2 of the buy signal (on balance volume measures accumulation/distribution or trading on upticks vs. downticks). So day 3,4 and 5 will occur early to mid option expiration week (this week). There is a fairly high tendency for tues or wed to mark a trading high, then option bigs (mm's etc) work stocks into lower strikes usually or try to. 2. "ten days without making a new low" and holding in a fairly tight range buy signal occurred with 10 days on 7/9, meaning if no new low soon, stock should turn to the upside. 6/24 was first low 65.08 (successful test of low 7/2 of 66.51 also 2nd low). 3. I regard as quite important the double bottom lows and especially the "intervening price high", which becomes a key area to penetrate to the upside. That intervening high was 6/27 with a 71.8 high and 70.32 close. That intervening high was penetrated on the upside on 7/12, friday. This , imo, signals the completion of a bottom formation in IOC, or has a high reliability to signal that. OBV also confirmed with higher accumulation that intervening price high breakout . This is within the ongoing volume reversal buy signal hinting of upside into early/middle of this week, or maybe more 4.One last highly unusual event occurred on 7/11. I track nasdaq and nyse daily reported short sales vs. daily reported total sales. This excludes dark pools and I believe below 50% correlates with short covering (the more the more covering) and above 50% is likely more short sales. I also importantly separate the nasdaq and nyse transactions. I do this because I feel there are different players that habitually use either one. I believe the nyse is most often used by the market makers, such as Goldman etc. These daily trading figures have been running noticeably below 50% on both with the nyse figures higher and the nasdaq usually in the 30's% for about 3 weeks, imo indicating a good amount of short covering going on, regardless of price action, lids, etc. Plus I believe the shorts trade back and forth between themselves to control the price, and do a job with no news. The 7/11 nyse figures I deem significant, but only my opinion, they were 15,614 reported short sales vs. 123,837 reported total sales , or 13%. If I am correct in my assumptions, this is a very rare event , and to me, likely stands out as marketmakers getting noticeably less short, or more long. These guys are, imo , the forward observers of what's going on in the stock, holding the trading books and seeing all.......Another likely bullish sign, imo. 5. I'd be very surprised if something quite positive hasn't happened, and news should soon confirm it. 6. One last note. OBV is now +24.6 million. The OBV highs in the 90's/100's pricewise etc last several months has been in the +29 to +33 million area. So a trip back to the highs from here should occur on an accumulation of maybe 5 to7 million shares. Big news of an XOM deal or other can put IOC there in a hurry, perhaps one day to several days maybe I also believe the stock will work even higher over a reasonable time from the initial deal news. Holding here, imo, will be the big winners by late 2013 to mid 2014, (and more deals ahead, as well as drilling). Ok, that's about it, regardless of how it unfolds, good times sure look likely ahead again.

   
I'd like to be in a class you teach this stuff Professor Trans..