Now it is time to start creating a short position

[RedTankEra]

Quote from chaykapwr:

Of course Im not going to give out everything about my management style

but since you caught on, what I will be doing is treating each zone like a seperate trade. Short full on each zone, with a stop in between

If we were talking about a price action entry technique, then I could understand for secrecy but money management ? Eventhough massively important, hardly the formula of cold fusion.

Do the words FiboShitLord mean anything to you ?

 

[Rickshaw Man]

Quote from Lucrum:

Help me out guys I've lost track. What is this anyway, top call number 72,423?



Of course when one of these guys does finally get one...uh..."right" he'll be pounding his chest like Tarzan.

Check the ES journal 2012, I think you might be right 72,423.

 

[Rickshaw Man]

Obama is a big big spender, central banks love big spenders. If he wins re-election. Count on a war before he leaves office, wars are very costly, central banks love wars.

The central bank wants him to stay were he is, a soaring market is all the central bank can offer to keep him there. Unemployment will be there excuse to keep the juice flowing, even if we hit all time highs in 4 months.

 

[chaykapwr]

Quote from bone:

How do you come to that conclusion ? Based upon previous market levels ? If that is the case, did your conclusion take into consideration the yields available from other equity markets and the fixed income sector during those previous historical timeframes - in other words, a legitimate relative value comparison ?

My point being, why time the market - why not let the deep pockets go ahead and turn the market, and when the fresh downtrend has developed, then go ahead and get shortie. Personally, I just don't believe in fighting the market. It really is self-induced stress created from an ego fulfillement need that is just not necessary in order to make a very good living at this. My two cents.

Based on thousands of samples over many many many years of data .

 

[bone]

Quote from chaykapwr:

Based on thousands of samples over many many many years of data .

Then maybe abide by the spirit of your original post and favor us with your "probability". Care to put a number on what you term "low probability" ?

 

[e92335i08]

Higher Gasoline prices are really going to limit the move higher in the market. Upside is going to be limited with commodity inflation will weaken discrestionary spending and global growth.

Also with inflationary pressures in the Eurozone will push europe further into recession as they are already very weak.

I would establish light short Fut's 1420's and have some bearish calander put spreads.

 

[xiaodre]

Samples of what? How many thousands? Over how many years?

cmon man.

I mean, you may be right about this. You may be wrong about this. But its a guess. And the long side is still in control. Why call a top when you can wait and then kick a person when he's down on his back? It's much more satisfying to call the top, but it's more profitable to kick someone when they're down.

 

[SteveNYC]

Quote from chaykapwr:

The upside potential is no longer outweighing the downside risk. There are 3 key zones to watch out for. However, I will start shorting at the first zone and then add IF we continue up. However, we shall at minimum get a nice size correction off the first zone.

There is a probability I am wrong, however, its a small probability.

The zones in the ES are

1420-1430

1445-1460

1480-1486


for Nasdaq we have a HUGE resistance zone and this is the one that is offering the biggest reward (several hundred points)

3180-3300

HOWEVER the heart of the zone is 3220-3300

why don't you start shorting now?

get a head start. beat the herd.

 

[SteveNYC]

Quote from RedTankEra:

It's the typical rookie mistake, it's the main reason why so many fail in this business.

The necessity to short an uptrend or buy a downtrend to satisfy their psychological deficiencies.

Eliminate overbought or oversold from your trading vocabulary because there is no such thing, it's a false perception.

There is a strong trend in place, enjoy it, exploit it, embrace it, don't fight it or else quit trading.

Lescor was a huge fader. I never could get how he was so hugely successful He was also a discretionary trader.

 

[SteveNYC]

Quote from Lucrum:

Help me out guys I've lost track. What is this anyway, top call number 72,423?



Of course when one of these guys does finally get one...uh..."right" he'll be pounding his chest like Tarzan.

Or like King Kong/Gargantua.