Quote from Buy1Sell2:
Thank you Pekelo!
Rule of 10 and Tday theory are singularly useless and insignificant.
WHATYAKNOWBOUTDEMTDAYBOYZ?
ES Journal Archive (2006 - 2008)
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WHATYAKNOWBOUTDEMTDAYBOYZ?
Quote from riaamaan:
This sounds like the nonsensical ravings of a lunatic mind.
http://news.yahoo.com/s/nm/20080722/ts_nm/storm_dolly_dc
On the SPX daily chart the Williams indicator just gave a sell signal at the end of day, but that tends to be usually early a bit. The other problem is that the charts of the 3 indeces are out of sync. The SPX is just finishing its rally mode, but the NDX is still below the SMA line and the DJX could go another 200 points before hitting the upper BB.
So tomorrow congestion/sideways, Thursday another up and then turn of the tides and continue down...Sounds like a plan to me...
Futures are up, 1281. Here is a question for B1S2:
One way to determine a trend is to see if the SMA has been crossed or not. We crossed it on the daily chart since the 17th, 1245, so wouldn't have been smarter to put your stop loss let's say around 1250??? (or even switch to long?)
Now there is a good chance that your 1285 is going to get hit just when the market is going to finish this run up... (overnight high was 1284.5)
One way to determine a trend is to see if the SMA has been crossed or not. We crossed it on the daily chart since the 17th, 1245, so wouldn't have been smarter to put your stop loss let's say around 1250??? (or even switch to long?)
Now there is a good chance that your 1285 is going to get hit just when the market is going to finish this run up... (overnight high was 1284.5)
Long term trend continues down. Last Friday the weekly completed a bullish divergence so that a bounce was in order. Once stopped out here, I will bank 135 per and then look short again. The market has a lot more downside left.
By the way, if there was manipulation, the market should have been able to take out my stop especially in AH where the market is thinner. It probably will take it out anyway, but it should have already occurred if there really were shenanigans.
Quote from Buy1Sell2:
Long term trend continues down.
Sure, and short term it has just rallied 80 points taking away 40% of your gains. My point has been since February, why not take when you have a good gain and reshort at a higher level? Specially when you can actually see the bounce coming?
Last fri the weekly completed a bullish divergence so that a bounce was in order.
One more reason to cover the shorts then, I agree.
Once stopped out here, I will bank 135 per and then look short again.
Again, it looks like your stop loss going to get hit just when the short term rally runs out of power. Earlier you said you don't play shorter term because you were busy (I agree with the laid back method), but lately you seem to be hanging out here quite a lot, so I just don't see why not play the shorter term moves???
Long term trend continues down.
Sure, and short term it has just rallied 80 points taking away 40% of your gains. My point has been since February, why not take when you have a good gain and reshort at a higher level? Specially when you can actually see the bounce coming?
Last fri the weekly completed a bullish divergence so that a bounce was in order.
One more reason to cover the shorts then, I agree.
Once stopped out here, I will bank 135 per and then look short again.
Again, it looks like your stop loss going to get hit just when the short term rally runs out of power. Earlier you said you don't play shorter term because you were busy (I agree with the laid back method), but lately you seem to be hanging out here quite a lot, so I just don't see why not play the shorter term moves???
Fannie Mae (FNM:Fannie Mae
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Last: 13.41-0.72-5.10%
4:02pm 07/22/2008
FNM 13.41, -0.72, -5.1%) and Freddie Mac: (FRE:Freddie Mac
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Last: 9.70+0.95+10.86%
FRE 9.70, +0.95, +10.9%) Traders and investors pared back bets that stocks will drop, particularly those bets not backed by borrowed stock, in the wake of a regulatory order to enforce the settlement rules regarding such short sales, S3 Matching Technologies said. S3, an Austin, Texas, software provider that also processes trades for major brokerages, compared short sales from July 14, before the Securities and Exchange Commission put the order in place, and July 21, the first day the rule was implemented. The order reduced short sales by about 70% for the stocks the order targeted and by 90% for the mortgage giants, S3 said in a statement on Wednesday.
Things that make you go hhhmmm!
http://www.youtube.com/watch?v=c_Y50hE5ri8
News, chart, profile, more
Last: 13.41-0.72-5.10%
4:02pm 07/22/2008
FNM 13.41, -0.72, -5.1%) and Freddie Mac: (FRE:Freddie Mac
News, chart, profile, more
Last: 9.70+0.95+10.86%
FRE 9.70, +0.95, +10.9%) Traders and investors pared back bets that stocks will drop, particularly those bets not backed by borrowed stock, in the wake of a regulatory order to enforce the settlement rules regarding such short sales, S3 Matching Technologies said. S3, an Austin, Texas, software provider that also processes trades for major brokerages, compared short sales from July 14, before the Securities and Exchange Commission put the order in place, and July 21, the first day the rule was implemented. The order reduced short sales by about 70% for the stocks the order targeted and by 90% for the mortgage giants, S3 said in a statement on Wednesday.
Things that make you go hhhmmm!
http://www.youtube.com/watch?v=c_Y50hE5ri8
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