sept 11,2001 MKT will RALLY ON CLOSE

i posted this late last night.. i hae a reco down near the bottom
Quote from jaytrader100:

jack angel i do not pick exact entries or exits for people.. so posting a screen shot doesn't make a lot of sense. I appreciate your kind words and yes I am not a poser.

I think a lack of confidence is exactly what stops peopel from becoming good traders...

People do not need to be told to buy it here and get out here.. they can see teh charts.. they know how to do that..what people need is someone rooting them on .. giving them the okay..
saying .. Hey I am getting long here .. mkt is selling off and I am buying more.. etc.. We need more intra day sentiment not indicators and systems ..

IN every profession people are coached not coached on intricate details.. they are coached by positive reinforcement.. two doctors may be excellent surgeons yet perfom teh surgeries differently.. so if I need open heart surgery they will perfom it confidently.. so If i say its time to buy then I use my tools and skills to buy at my levels and exit at my levels.. vice versa for selling!

Too many get lost in the details of a tick or two .. rather than trying to DAY trade .. hodl for a TARGET and hold for a LOSS.

Tomorrow depending on what happens to the financials and leh.. i will most likely buy on a dip.. if they run the market up strongly in the first hour then i sell the highs.. but not all day .. i watch and look for indications of people buying on dips then.. when everyone is spooked out I step in and buy ?

OF course this could change by tomorrow at 10 am.

Thanks again, but I was never expecting that huge of a rally..remmebr I was only looking for 50 points
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I am busy setting up trades in the am.

Her is how I trade.. i look at the daily chart adn I give myself a bias for the the next day based on the daily chart. I then trade on that bias for the day. Last night i said if mkt is up like 100 on teh open then sell it.. if it sell sofff rom yesterdays high then buy it. 7:45 mkt hit low and it has been buy the dips ever since.. look at a 1 min chart.. volume lower on the sell offs then rallies.. volume higher then rallies.. you obvioulsy cannot be scalping here or you will get stopped out easily.. if i am trading the spy .. I set a stop of at lest 50 cents.. be convicted trade a plan and trade a target. i look at a trade before I enter and I say.. okay if I am wrong is it likely the market will be able to stop me out? If my 50 cent mark is in teh middle of support.. then I will sometimes gos 70 cents etc.. you have got to give the market wiggle room people.. my target on half is 1:1 and so 50 cents profit.. adn the other half .. i try to hold as long as I can. I use my screen time to help me see what the market might do.. those of you who are scalping.. unless it is for fun should stop wasting your time and trade.. trade fro targets..not time.

I am curious though.. if I ws to make a recommendation.. it will not be all that often .. maybe once or twice a day.. I wait and i wait and i wait until i see something i believe in then I pounce on it. Traders do not gt paid by the hour..we get paid by being smart.. I'll throw a reco out everyonce in awhile.. should I post it here or start a new thread.. jaytrade reco? I think I will start new thread called jay trade reco. when I have an Idea

Lastly.. I try to decide if I am going to be buying or selling to open new positions for the day.. sometimes I flip flop from being a buyer to a seller but his normally gets me in trouble.. it only requires half as much work to look for good buying opportunities to open .. or good selling opportunities to open.. than trying to constantly be looking for both.
 
the last move in the spy or es was what i consider to be a small dip. there is still mroe selling to come.. then look to buy so long as mkt does not start free fall.
 
jaytrader....

Jim cramer says "Shut the *&^98 up"

kramer2.jpg
 
if we make a lower low here look to start buying aroudn support 124.70 to 125 and hold


i use support as a band rather than an exact level.. i try my best buy or sell within my band

we are seeing some of the "more selling " i was talking about"

simon thanks for the hi res pics of cramer and Mr.t...
I pitty the fool

anyone trading oil or uso.. i thiknk it spikes higher in the next 5 10 minutes
uso at 81.97
 
for those of you who feel like we missed a buyijg opportunity its okay we will get another chance.. stick to your plan .. I am waiting for 125-124.70

my quick call on oil was completely wrong

oil selling will give our stock mkt even more strength.. I am amazed that oil is selling off so much with the dollar down a lot.. so to me.. you will get a chance to buy oil on this huge dip
 
Quote from jaytrader100:

for those of you who feel like we missed a buyijg opportunity its okay we will get another chance.. stick to your plan .. I am waiting for 125-124.70

my quick call on oil was completely wrong
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You my friend .. are an idiot! flat out!
 
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