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bounce off of r1 here. spy chart. can't get cash on this pos charting.

it sounds easy when you put it this way. Cut losers ride winners, hard to do though.:)

sorry I do not understand the first part "line on balance" . You are saying the managers are averaging in ?

Looking to be short today but that's logic. Is it possible that these rallies are just short covering, nothing like a lightning fast bear market cover, just my $.02. :)

yep.:cool:

just a matter of time, I admit this photo makes me giggle!!:D :D :D TIMMAY redux!

One comment and I am done for the day. We spent a long time earlier in this year in this range from $1490.00 to $1520.00. Good trading.

SPY gap chart

$spx.x chart. this is the grail for a scalper.

My guess would be a touch of $1490.00 on $spx.x. Low of day $1489.56, days not over yet.

Covered $1496.00, not digging this price action.

Just saying that women have a better perspective on life and money.

I just finished Pit Bull by Buzzy Schwartz. Here is an excerpt after a long trading day. "I was still shaking when I went into the apartment. Audrey I said, you are not going to believe this; I just made $290,000 on a 12 lot. "Buzzy, that's wonderful how long did you have to hold it?"...

time will tell, little bounce off Merril news.

long cash target $1507.00. stop $1493.00.

Out -$5.00, I thought the gap had filled and that we were going to take off. Bought the high today, bad entry. The gap did fill this morning and we may be headed for the pivot. This pop this morning I think was mostly due to AAPL which had strong earnings...

bought the top here.

Here is a typical gap fill eh?

It all starts here and has been rolling downhill ever since. http://www.elitetrader.com/vb/showthread.php?s=&threadid=79141

LOL. http://www.youtube.com/watch?v=W3A9rLoz_0o