we're forming a mini-top this week at 51.50. hit it a few times already. i have a small short set at 51.45, stop at 51.70. target 50.70 or until i wake up.
5% - 10% profit per day trading
- Thread starter spanish89
- Start date
- Status
got in at 51.50, tightening stop to 51.55. equities look adamant about breaking highs very soon, maybe tonight. target still the same.
I personally have to disagree about the dow mate..
(I know i havent been trading daily for about 3weeks now like you have,
but thats the thing,
since lastime i remember i was buying the dow at 6400-6500,
and it doesnt seem that long ago, maybe 5 t 6weeks ago).
I know it spikedup 1,000+ points in the 6days after i had cashed in my long... LOL
But basically 5weeks ago i bought it and it was 6400s with everyone saying it was going to the 5000s....,
Now i look at it and its in the 8100s!! :eek:
Ive looked at the chart and this is the perfect setup for what looks like a market about to drop.
(I personally wouldnt sell it though, as i look at teh monthly charts, and dow is too low overall for me to have any interest in trying to make some quick cash from selling it as theres risk in that)
However i wouldnt be willing to buy dow till the 7586 level,
and would be looking for it to get down to that within the next 6days.
Especially now that we are at a VERY STRONG resistance level in dow,
i wouldnt be betting on it just floating higher without atleast a few hundred points pullback 1st.
*Chart to show what i mean
hey span, nice to see you're still around. i'm shorting oil at the moment, but i have a tight stop. so it'd be great if stocks fell tonight. but it's been attacking that resistance line for quite a few days now. and today the fed left rates at 0-.25 which may bump us past 8200. we're very close now, and i'm not gonna find out until tomorrow morning.
look at EURUSD chart , oil is following the same drop of EURUSD
euro/usd, ES, and CL are all correlated pretty well. yesterday the euro went on a tear though, and oil only went up modestly. unluckily for me, i got stopped out last night. totally missed this move, but it feels unwarranted. going to get in long if i sense we're going to reverse. looking at 50.00.
short 51.25, may add more
out, 50.93. will try a long if reach today's low.
i don't know what it is, maybe waiting around is making me tired. inexplicable boredness. went long heavy at 50.75, just need to be in the market i guess.
out at 50.60. ok impulse trade over. took a loss for the day. now to be patient and make a good trade.
- Status