Reasoning Behind Our SPY Short

[Roman Candle]

Quote from Petsamo:

Watching this market is like watching your team in the playoffs, except I'm not in favor of either side. This day is not over, Roman.

Anyone with a little experience in technical analysis knows you need to wait for conformation of these set ups. Especially when the momentum is this strong in the other direction. Every intraday bearish pattern is getting jammed higher.

Sure we may end the day in the red, but you best be prepared the forces that be are pulling out all the stops to turn this market around. Just when you think its safe to short your going to get burned.

 

[Petsamo]

This ongoing bull market doesn't make sense. If people are sitting around with cash waiting to get back in the market, they should've bought mid March/early April. Why on earth would people dump in their cash now?

And why are you, Roman, recommending people buy on dips? Who are you listening to? I'd like to know. I'd like to read what their rationale is.

 

[Roman Candle]

Quote from Petsamo:

This ongoing bull market doesn't make sense. If people are sitting around with cash waiting to get back in the market, they should've bought mid March/early April. Why on earth would people dump in their cash now?

And why are you, Roman, recommending people buy on dips? Who are you listening to? I'd like to know. I'd like to read what their rationale is.

I don't listen to anyone, anymore, I watch the price action. Thats all you need.

If you don't do it on your own your never going to make it.

 

[Roman Candle]

Here is 8 days of price action. It's a stair step higher. Thats whats working. Futures are gapping the cash market higher then we trade sideways.

It’s the most cost effective way to move it up. Just think of how much capital it would cost to open flat every morning and have to push all these stocks higher. It’s much easier to jam the futures up and let the specialists gap open there stocks.

 

[Petsamo]

I listen to credible people who back their opinions with data. I listen to both sides. Then I make up my own mind.

Two guys say we're in a short-term bull market, but one of them gave an intermediate term sell signal. I'll sell only when I see hard price declines. I know the market can turn any day/any week now. For now, I stay long.

 

[Petsamo]

That's a nice chart you have there, Roman. I appreciate it.

 

[chrismontez]

His 2009 performance:

http://www.shadowtrader.net/focus_r...ormance2009.pdf

Nexen

I looked at the link and must be missing something. Is this just a part time hobby? We are 4 months into the year, $4500 profit is a pretty small return if you have over 100 hours into trading this year. I would think someone with a newsletter would be doing this full time.

 

[athlonmank8]

Quote from Roman Candle:

Here is 8 days of price action. It's a stair step higher. Thats whats working. Futures are gapping the cash market higher then we trade sideways.

It’s the most cost effective way to move it up. Just think of how much capital it would cost to open flat every morning and have to push all these stocks higher. It’s much easier to jam the futures up and let the specialists gap open there stocks.

U seriously think someone's "Jamming" the futures up?

Come on.....seriously? No one's screwing with anything.