ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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ESJ thread is not a good sample space for concensus.
This morning is the 2nd day with extreme selling. Public is unloading.
I am getting more and more of these mails from people who are
calling for a bottom, which, on a contrarian basis, would suggest
the bottom is far away. However, these two have called it right more times than many so here goes:
Hi folks. My horizontal IT target has been hit Thursday morning. Here is a possible place for a temporary cessation of the downtrend.
Go Mercury Wood
His chart attached.
Next guy says:
As you can see on the attached the spx this morning met support at a sand
bar here and is below the down sloping red line.
Interpetation. ......... slowing down for a speed bump while in the fast lane.
Not that I am suggesting going long or short here .........but please follow
the logic.
Being long 3000 iwm is the same as being long 1500 UWM is the same as being
long 1000 TNA.......in theory.
The benefit of using the higher leverage is that you can set aside more
cash to earn interest, the same could be said if you were going to short
these stocks. ........well sort of. There are additional risks and
disadvantages that your broker will explain and I don't have room for here.
Another benefit is that you start building cash. Why is this important ?
While the SPX will have a bottom and a test or two of the bottom, when ever
that is......so will sectors and the best stocks in those sectors.
There will be multiple bottoms and opportunities.
His chart in next post
calling for a bottom, which, on a contrarian basis, would suggest
the bottom is far away. However, these two have called it right more times than many so here goes:
Hi folks. My horizontal IT target has been hit Thursday morning. Here is a possible place for a temporary cessation of the downtrend.
Go Mercury Wood
His chart attached.
Next guy says:
As you can see on the attached the spx this morning met support at a sand
bar here and is below the down sloping red line.
Interpetation. ......... slowing down for a speed bump while in the fast lane.
Not that I am suggesting going long or short here .........but please follow
the logic.
Being long 3000 iwm is the same as being long 1500 UWM is the same as being
long 1000 TNA.......in theory.
The benefit of using the higher leverage is that you can set aside more
cash to earn interest, the same could be said if you were going to short
these stocks. ........well sort of. There are additional risks and
disadvantages that your broker will explain and I don't have room for here.
Another benefit is that you start building cash. Why is this important ?
While the SPX will have a bottom and a test or two of the bottom, when ever
that is......so will sectors and the best stocks in those sectors.
There will be multiple bottoms and opportunities.
His chart in next post
That's why a temp bottom is needed - to suck in more longs.
A bounce is needed by the option MMs.
That will stage the next move whether we run back up more or drop straight down after friday.
does anyone out there think current intraday chart (bars less than 5 minutes) is starting to look like a Wyckoff creek, and that a drop to print a new low on the day could be a spring?
a spring print in the 815.25-814.25 ?
come on, offer an opinion, what else are you doing right now?
a spring print in the 815.25-814.25 ?
come on, offer an opinion, what else are you doing right now?
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