Keep digging, you might figure it out yet. On the right track.
Monster Reversal Coming?
- Thread starter empee
- Start date
Keep digging, you might figure it out yet. On the right track.
The put selling program trading trade has been in full effect. This market is robotrader.
Today we had a good place to take a shot imo for a SHORT swing.....reasons why;
1) Overnight high for the ES was never touched after the open (that surprised me....made me start thinking).
2) 60 minute chart was showing divergence.
http://www.charthub.com/images/2006/09/21/ES_HTF_D.png
3) Consecutive equal highs lower than overnight high.
http://www.charthub.com/images/2006/09/21/ES_HTF_D_2.png
4) Perfect intra-day "double-top" pivot area with strong "delta" divergence and entry 4 ticks away from double-top high........
http://www.charthub.com/images/2006/09/21/ES_317_VB_3.png
I was able to hit some really good targets at 5 pts and 10 pts today and the rest has a stop at 1333.00 . This was my second try at a swing SHORT in the last few days (last one only hit my 5 pt target....the rest was out at +2.5 pts). The only way to know if you are in a swing set-up that will work out is to take the shot.
1) Overnight high for the ES was never touched after the open (that surprised me....made me start thinking).
2) 60 minute chart was showing divergence.
http://www.charthub.com/images/2006/09/21/ES_HTF_D.png
3) Consecutive equal highs lower than overnight high.
http://www.charthub.com/images/2006/09/21/ES_HTF_D_2.png
4) Perfect intra-day "double-top" pivot area with strong "delta" divergence and entry 4 ticks away from double-top high........
http://www.charthub.com/images/2006/09/21/ES_317_VB_3.png
I was able to hit some really good targets at 5 pts and 10 pts today and the rest has a stop at 1333.00 . This was my second try at a swing SHORT in the last few days (last one only hit my 5 pt target....the rest was out at +2.5 pts). The only way to know if you are in a swing set-up that will work out is to take the shot.
Yes, thank you, picked up a few of those way out of the money puppies for myself cheap, thanx.
IMHO, market rises in the face of worsening economic news and a housing market that makes you sick to your stomach. It keeps up after the elections due to new capital inflows, particularly after the first of the year when the new mutual fund allocations kick in. That particularly will be nice on the short end of the yield curve as the fed will probably oblige and at the worst keep rates flat or more likely lower to encourage continued credit utilization and to protect the housing market from an absolute meltdown.
Its what happens in february/march that worries me. Will make this year's bobble look like chump change if it happens for real. But that's a way off, so things can happen between now and then. Watch oil.
If not today then Monday on the back of another poor housing number!!!
Z Spooz 1311 next stop!