S/R Emini Journal
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I took the long off the flag and s/r play at 61.25. My limit didn't get taken at 63.25 and I got stopped out at 62.25.
Up 1 pt minus commish. Still well in the red on the day, but I followed my plan.
Twink
Up 1 pt minus commish. Still well in the red on the day, but I followed my plan.
Twink
Watching this also - too bad it's so late in the day. Might be something to start off tomorrow??
Like everyone else, I think this thing needs to pull back a bit, but (IMHO) the whole premise of this program is to let the market show you what it is going to do. I've heard that a market rises on a sea of doubt. Seems to be plenty of that to go around. Either way, I will continue to attempt to set my trades in the way of the market.
This is when the disciplined stick to their program . . . or when the smart sit on the sidelines and wait. I'm too new to know the difference.
Since discipline is my particular demon, I will use this opportunity try to weaken it's hold on me. After all, discipline is easy in the face of winning trades. Just the thoughts of a noob (on a losing day btw
)Some food for thought...
With a blowoff in the markets, I read that there is usually a fairly significant correction to the uptrend and then one last hoorah that brings every retail investor and their father into the market, buying up whatever they can. Then...comes the beginning of the bear market. By all accounts, aren't we nearing the end of a cyclical bull run? And...find it odd that the biggest correction in the SPX since the beginning of this bull run in '02ish was this past May?
I dunno...just found it funny I guess....
With a blowoff in the markets, I read that there is usually a fairly significant correction to the uptrend and then one last hoorah that brings every retail investor and their father into the market, buying up whatever they can. Then...comes the beginning of the bear market. By all accounts, aren't we nearing the end of a cyclical bull run? And...find it odd that the biggest correction in the SPX since the beginning of this bull run in '02ish was this past May?
I dunno...just found it funny I guess....
ROMIK, glad to see you back on track...........the market can only do 3 things...with occasional 4th case scenario.....that is all.......u know that......just saying that for those who let the simple become fuzzy... it ain't fuzzy...after a while......................is volente still trading?..... porgie
didn't realise I was off-track.
I think price will hit 1370 before pullback occurs, that's top of the monthly channel SPX (1360). If that happens 2morrow, then there might be a bearish divergence occurring in various oscillators on the hourly chart. I will definitely add more near that level.
I think price will hit 1370 before pullback occurs, that's top of the monthly channel SPX (1360). If that happens 2morrow, then there might be a bearish divergence occurring in various oscillators on the hourly chart. I will definitely add more near that level.
I think as long as the fed keeps holding interest rates where they are we won't have to worry about a bear market. Looking at the charts we still have more room to go up as well. I do look for a pullback just like Romik does but then a continuation upwards. But if you stay market neutral it doesn't matter if you are wrong or right.
Now fundementally speaking: our economy is not that bad right now besides we have not had any kind of a catalyst to drag it down. I actually expect a rate decrease before next summer. When that happens we will get our next bull market. JMO..
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