MACD/Trendline Swing Trader

Then again when Swing trading Dailies I SHOULD be using at most an Hourly turn to get out but until long daily trendlines are broken I think waiting for an hourly reverse (considering the necessary late entries) would consume profits...

The Agric stocks look to be close to breaking multi-week trendlines though.. TRA the strongest.

Then again tomorrow markets could be off to the races and make me look daft but what's new.... Some REALLY BIG reports tomorrow and Friday will create some fireworks and I am not too interested in front running them.

Markets endlessly challenging..
 
Yeah, it's interesting. As you saw with your sizeable drawdown, sometimes trading strategies just flat out don't work (like the last couple weeks). Trades are currently working better, but the most profits have been kept by watching <i>intra></i>day reversals versus the hourly or daily reversals.

But I think you have noticed as well that trades are slowly working better and better than they have over the last few weeks.
 
Quote from iloveketchup:

pulled the trigger on the GM long at 10.43. Lets see where this takes us.

What are your thoughts... 13ish in a couple days?
More...

So about that GM.. LOL! Mr. Market always has other plans for us.

Stocks (especially heavily traded) can trade VERY precisely - see attached - .. Snooze you lose! Don't let it below 10.85..
 

Attachments

Picked up a microscopic CF (Remember having AGU on Friday at 84.8 but didn't hold it.. SOML!) and plan on getting EAC (Oil) tomorrow over 63.5...

Commidity group as a whole.. it's demise was exaggerated.. Seems like new highs soon if TRA and CF are any guide.. MACD's with a lot of gas in the tank.. Luckily picked up SQM earlier.. Those Airline sales today were good...

In my dreams I went long as soon as I covered the JRCC...
 
SP Game plan...

Wedge Galore! Probably another being built.. Don't have a higher high to use so the current upper line a guess at this point. It will be "convenient" if one of the reports this week can facilitate one for us. It has 1320 to 1340 written all over it..

That large lower green line even more important than any lower support lines.. Did well with it in January.. 2 weeks ago, as it was touched I was busy licking my wounds. If this line is ever broken then we'll have "the" washout. There's probably a name for it.. similar to a blow off top..

Key point here is ALMOST never do markets turn in a technical vacuum.. There is always something they run into.. In the spring I couldn't believe why the markets were going up.. Well they were going to go until stopped by something... Here we go again.. Fundamentally nothing has improved other than some SP Co.s beating lowered estimates.
 

Attachments

Quote from retire45:

So about that GM.. LOL! Mr. Market always has other plans for us.

Stocks (especially heavily traded) can trade VERY precisely - see attached - .. Snooze you lose! Don't let it below 10.85..
More...

I have the week off from the day job. I watched the opening bell ding and it shot up to 12.75. I had a "good enough" order at 12.90. Just missed it. I tend to hold a little longer and yes, still in.

Ah well. Yes, i'm looking at that neck line. We'll see how it pans out. I might try catching a morning swing and get out.

Lately i've been just trading horrible. That trade seemed justified. I should have kept my honda short vs getting into GM. HMC down to 28 - 30 isn't unlikely over the next week or so.
 
Yes per your S&P cash chart. Just another retracement in a down trend. Spurned by shorts covering, then followed by hopeful longs and/or value players.

Market overall is lame, economy is weak, crude is still very high. Cabbies in NYC are complaining less tourist traffic in the summer. Less disposable income as we all know to run up the consumer economy.

Oh, yeah just lots of reasons to get optimistic at moment....NOT
 
Quote from iloveketchup:

I have the week off from the day job. I watched the opening bell ding and it shot up to 12.75. I had a "good enough" order at 12.90. Just missed it. I tend to hold a little longer and yes, still in.

Ah well. Yes, i'm looking at that neck line. We'll see how it pans out. I might try catching a morning swing and get out.

Lately i've been just trading horrible. That trade seemed justified. I should have kept my honda short vs getting into GM. HMC down to 28 - 30 isn't unlikely over the next week or so.
More...

Well the Trade still lives.. Today a clear example of Markets intent on a medium term basis.. seems that 1320 will be reached.. barring Nuclear Holocaust.
 
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