Smart Money's Swing Trades Thru T.A.

i'm out, had 2 week hold in tech etf tyh, limit sold at 31.50

now I'm preparing to go short but I think this is going to be long and sideways top. going to wait for the signs of a short before jumping in
 
Quote from levitation:

i'm out, had 2 week hold in tech etf tyh, limit sold at 31.50

now I'm preparing to go short but I think this is going to be long and sideways top. going to wait for the signs of a short before jumping in
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Thats probably prudent and what I should have done. I don't have a doubt that we're topping, and we may already have topped. But take a look at EDZ for an early entry. It's already positive...likely because of some type of currency exhange issue. But 3 out of the last 4 times that it started up like this, it jumped really big the following day.

This turn could take a couple days to fully unwind, but it will happen (IMHO) and things will be "anemic" until then. When I does, I want to be in something like EDZ.

SM
 
Quote from levitation:


now I'm preparing to go short but I think this is going to be long and sideways top. going to wait for the signs of a short before jumping in
More...

I think if SPY pulls back to 107.50 ish area here in next week or so would be real test if we take out these highs or take out the June lows-that imho is the real test here. I am already short from 110 on SPY via SDS
 
Quote from GG1972:

I think if SPY pulls back to 107.50 ish area here in next week or so would be real test if we take out these highs or take out the June lows-that imho is the real test here. I am already short from 110 on SPY via SDS
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I just looked at charts for SPY. I don't wanna sound like CNN, but "happening now" comes to mind.
 
I'm sensing some emotion in the thread, and we have to kill that quickly. Emotion and trading = pain.

We all have our biases, but they need to go in a trash bag. Easier said than done, I know. Best thing is to be the "tiger" laying in the bush waiting for an injured deer to walk by. No need to get up and chase a healthy one when injured ones limp by often.

A bias that I have to can this week is the death cross of July 2 on my mind, as I'm in long positions. All of my signals pointed to an uptrend, and I didn't argue. Markets followed through. I went long. No emotion.

If I find myself in that 30% chance that follow through doesn't work, and the trend fails, I'll go to cash, and/or add shorts depending on the strength of the momentum.

Carry on! :)
 
No emotion here --if I am wrong stops are in--lots of stocks hit the 50 sma and turned back after a crossover--over the years that been the "one you look back and say I shouldve been in there trade"--just putting money to use since I missed the rally almost entirely except for some decent day trades. Almost everything is hitting the 50 SMA from below -spy, amzn, URe, dia, RIG(already turned back) AAPL AGU(200sma)

Hard to ignore all these big names in all different kind of industries
 
Quote from GG1972:

No emotion here --if I am wrong stops are in--lots of stocks hit the 50 sma and turned back after a crossover--over the years that been the "one you look back and say I shouldve been in there trade"--just putting money to use since I missed the rally almost entirely except for some decent day trades. Almost everything is hitting the 50 SMA from below -spy, amzn, URe, dia, RIG(already turned back) AAPL AGU(200sma)

Hard to ignore all these big names in all different kind of industries
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He could be talking about me. I come off kind of cocky sometimes. My charts are pretty good at telling me when things are turning around...plus or minus a day or two. I could be wrong, but I'm feeling good about it since some bear ETFs are already turning positive. So I took a minority position and will pile on when I see more confirmation. If I'm wrong, I lose, but I think at the very least we're moving sideways so I can find an exit.

I do need to learn better money management. I'm working on that and I'll take any advice on it...like not jumping in until the trend is actually in place.

SM
 
Quote from Smart Money:

He could be talking about me. I come off kind of cocky sometimes. My charts are pretty good at telling me when things are turning around...plus or minus a day or two. I could be wrong, but I'm feeling good about it since some bear ETFs are already turning positive. So I took a minority position and will pile on when I see more confirmation. If I'm wrong, I lose, but I think at the very least we're moving sideways so I can find an exit.

I do need to learn better money management. I'm working on that and I'll take any advice on it...like not jumping in until the trend is actually in place.

SM
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Nope, all of us. Emotion is something every trader has to do battle with on a daily basis.

For example, look at a follow through day. 70% of the time, follow through works, and the trend is in place. I was looking over several things last night, paused for a minute and said to myself, "looks like this one is going to be the 30% that fails." If that's not emotion, I don't know what is. Argh! Just had to recognize that emotion, and kill it fast.

I'll stick with my rules, trade what I see, and not look back. BUT, there's that little voice called emotion telling me, "I bet you bought the 30% odds this time..." Just a daily battle that has to be recognized, and controlled...
 
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