ER2 has topped?

Quote from stktrdr:

<snip>Well bears? i dare you. Tell me why I am wrong!
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"dare" ? what are we, pimple faced adolescents?

Look, I'm trading what I (think) I see. It's a small position which gives me the flexibility to add as we move higher. I have many other positions across fixed income, money-market, equity and forex. So on this non-quant ER2 trade I am risking no more than proverbial lunch money. But if it goes according to plan it will buy a good steak dinner.

I am very relaxed about shorting ER2 here. Monthly chart of R2k cash attached. I think the top of this channel will contain the current bull move. Initial target is 740, but even a correction to the 700 area would leave the bullish trend intact.

Constructive, non-emotional comments welcomed.
 

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good analysis dealer. but i have to agree with stktrder on that one....the market is going up , and we' will reach the 800 level
pretty soon. I was expecting tht last month. the reason why i'm bullish? check my chart below. But that what i love about this job. 2 different views , but the market will decide who's right.

good trading to you all.

P.S. FOR tomorrow

LONG @ 777.00 TARG: LET IT RUN

STP : 775.00 (or WHATEVER YOU LIKE)

if the market goes below 776.00( pp)..wait till it come back to go long

----------------------------------------------

SHORT @ 769.6 TARG1: 767.5
TARG2: 766.1

STP: 771.8
(i don't think i'll be using this short)



good trading to you all
:D
 

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I just don't understand how a trader can sell into a strong rally in record territory. You must have balls of steel....

Yes, I am a wimp. I prefer to make money the EASY way!

BUY, BUY, BUY!
 
Quote from stktrdr:

I just don't understand how a trader can sell into a strong rally in record territory. You must have balls of steel....

Yes, I am a wimp. I prefer to make money the EASY way!


Stk,

I can agree with you in part. Consider the futures traders though, isn't there a buyer for every seller, and a seller for every buyer? So, in essence at some point some will sell the top, while some will buy it.

I understand your view though, you would rather see the market get weak, and breakdown, then begin selling. Instead of trying to pick the top and sell there into the strength.

That's what makes a market. One may be early and suffer a little, while another may be later and not suffer as much.

Good Day and Good Trading to You!

Kelly
 
Quote from glassinc:

...you would rather see the market get weak, and breakdown, then begin selling. Instead of trying to pick the top and sell there into the strength.
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YES, YES, YES!
 
Quote from stktrdr:

YES, YES, YES!
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The whole excitable caps thing is the complete opposite of a professional trader. They are robots, no emotion, no predictions, and no ego.
 
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