ES Journal Archive (2006 - 2008)

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anyone else noticed how the market has been going straight down yet the housing stocks have been ticking up.......

I am looking to play a pretty nice sized position on some of these stocks, mainly KBH. I think one more low would be healthy. Looking at selling some put verticals and long the stock once they start breaking out above their most recent swing high with a tight stop.
 
Quote from JSSPMK:

WTG Jason!

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1757111>
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I saw what you were seeing but as it turns out in Hershey language we call it FTT :D
Just goes to shows that it boils down to the same thing but different ways of seeing the market.
 
I dunno guys, I keep reading recession this, and recession that, I have with-held a lot of my spending just to be on the safe side (cancelled a holiday, put plans to build pool at house on hold).

but here in southern california I see zero signs of recession so far....


my business revenue (IT) has done more revenue in the first 3 weeks of jan than in any other year by a large margin (both in Los Angeles and San diego)


My friend wanted to eat at PF changs the other night so he dragged me along, but there was a 2 hour wait. go figure.
 
Quote from callmate:

I saw what you were seeing but as it turns out in Hershey language we call it FTT :D
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It's a typical triple histogram divergence, been around for quite a few years :)
 
Quote from JSSPMK:

It's a typical triple histogram divergence, been around for quite a few years :)
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Excellent when you can spot in good time and trade it. The problem is seeing it in realtime, but you have an eye for it, well done :D
 
Quote from callmate:

Excellent when you can spot in good time and trade it. The problem is seeing it in realtime, but you have an eye for it, well done :D
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That only comes with time, just like any other skill in life, BTW earlier trigger was seen on 1 min chart, also triple with earlier finish.

Price right at TL now, ouch.

Just had a look on Hang Seng, my analyses on resent upside break were incorrect, but earlier daily divergence call for 23000 came true today & I have given up on it already, just proves the point that whenever something goes up very quickly it ought to come down just as intensely (ImO).
 
5 minute chart says there is still some downside left. Trade what you see:D

5min.png
 
Quote from callmate:

5 minute chart says there is still some downside left. Trade what you see:D
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How far it WILL go nobody can tell, only projections exist, hence I am all scaled out & enjoying a nice cup of tea :)
 
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