Is this a selling gift S&P?

Quote from trade-ya1:

Obviously, I thought that something was awry given my ? as to whether this was a gift or stupidity on my part. I understand full well that when something seems like a gift, it's usually a klunk. I hesistated to be overly aggressive, however, the spirit of my hypothesis has not changed. Much of that hypothesis is predicated upon a selloff late in the day today (run up by smart money, sideways distribution, no bids). If this does not pan out, I will be lightening up my position at the end of the day and if evidence continues to prove me wrong, I will be out of the trade in short order (small gain or loss) and will possibily go the other way early next week. I'm flexible. Best. Neal.
More...

This is where i differ from you, trade-ya1. I would wait till Monday for the gift. I had covered 80% of my IWM in the last 2 days, so I am just rebuilding them today. I think smart money has already gone home for the weekend.
 
Yes. I know I would be violating 3 rules:
1) Don't average a losing position.
2) Don't let a losing day trade become a long term trade.
3) Follow the trend.
 
Took out yesterday's "inside day" to the upside when the market traded above 1130.20 - - - Breakouts from inside-days are very bullish.

The market then took out the high of Wednesday at 1132.30

Then, the market took out Tuesday's high of 1136.40

Now, the market is targeting Monday's high of 1142.00

The smart money has not gone home.
It is right here, playing the long-side of the market today.

:)
 
Quote from noddyboy:

This is where i differ from you, trade-ya1. I would wait till Monday for the gift. I had covered 80% of my IWM in the last 2 days, so I am just rebuilding them today. I think smart money has already gone home for the weekend.
More...

Maybe not since we just moved through 1141 .....
 
Quote from waggie945:

Took out yesterday's "inside day" to the upside when the market traded above 1130.20 - - - Breakouts from inside-days are very bullish.

The market then took out the high of Wednesday at 1132.30

Then, the market took out Tuesday's high of 1136.40

Now, the market is targeting Monday's high of 1142.00

The smart money has not gone home.
It is right here, playing the long-side of the market today.

:)
More...

The big guys around me have gone home.
:p
 
Quote from CalTrader:

Maybe not since we just moved through 1141 .....
More...

I admit this is my worst day this week. But I am going to hold my shorts for today. I do wish I averaged better than 115.6 on the IWMs.
 
Like Goldman Sachs, Morgan Stanley, Bear Stearns, and Deutche Bank or CSFB and their customers?

Take a look at the SMH.
After 3 straight weeks of a correction, this index is just starting to turn back up to the upside. Anyone that bought the opening, or in the first 30 minutes, is not selling out today.
 
Quote from waggie945:

Like Goldman Sachs, Morgan Stanley, Bear Stearns, and Deutche Bank or CSFB and their customers?

Take a look at the SMH.
After 3 straight weeks of a correction, this index is just starting to turn back up to the upside. Anyone that bought the opening, or in the first 30 minutes, is not selling out today.
More...


SMH looks scary. However, I am long most of the members in that index. Perhaps that is why I am up on trading pnl today.

Volume is low on both boards today, but it is useless debating it now. Its 4:00pm, so let's see what happens next Monday!
 
I liquidated the additional positions that I added today for around a 6 point average loss. Still holding some position and will liquidate some more on Monday if we don't see more negative price action. Probably liquidate more on Tues. if same. Might consider getting bullish if the week turns out favorable next week. Let's see.
 
You must log in or register to reply here.
Back
Top