Surf Report

[JSSPMK]

Third lower intraday top forming in Naz starting 3am Eastern.

 

[volpri]

Ok, surfers and surfetes, we are holding shorts in the YM here. Hold

surf

Why holding short?

 

[JSSPMK]

3rd lower top formed, let's see if the slide will have legs.

 

[volpri]

I guess you ain't giving your reason? Is it some fed bla bla? Or is there a fundamental reason? Or TA reason? ROFLMA

 

[JSSPMK]

I guess you ain't giving your reason? Is it some fed bla bla? Or is there a fundamental reason? Or TA reason? ROFLMA

It's proprietary mate, what are you expecting to hear? Very dangerous area to be long, extremely dangerous. Few savvy analysts on ET have pointed this out already, you don't keep going long just because it's an uptrend.

 

[marketsurfer]

I guess you ain't giving your reason? Is it some fed bla bla? Or is there a fundamental reason? Or TA reason? ROFLMA

There is a 1000 point drop coming from our entry with 10 unit earlier. we talked about this many times.

surf

 

[volpri]

I been shorting this daily TF pb all morning. Successively. On 5 minute charts. In any pb (daily TF) this big there are many shorting opportunities. The daily TF is simply a pb. Trend is up. Not down. This is a pb. Not a 1000 point plunge. However, any PB that is sizeable will have many short and long opportunities. I been shorting, this morning, (every trade of mine short) in ES and Naz on 5 min charts because TA tells me to short in this daily TF PB. It is just a FLAG on the daily TF. No huge bear plunge. Of course it can turn into that. I don't care either way. I just watch PA. My reason for asking surf is to know "why" he is telling surfettes to "hold" short. Some time back he predicted a 1000 point plunge. What is he now that he is looking at to keep saying "hold". Is he wavering? I mean the 1000 point plunge hasn't happened. It could. But hasn't. It is a bull market, still simply in a PB. Why do I short. Easy. I slap a 20 EMA on the chart. And add SMA 89. If price is trading below both I look for shorting setups. I will short PB back to 20 ema. Once price goes above 89 ema I will look for long opportunities. If I get a strong BO of the 20 ema on the north side in this bear move down this morning, then I will look at a counter trend trade. But once price gets above both MA's I look mostly for long setups. Simple PA. If the 1000 plunge starts I will trade it. I doubt it will as this is a strong bull market. So, probabilities favor a continuation of the bull. But it really doesn't matter to me. I don't have to sweat out the termite in a yo yo ride like surf. Up and down, up and down, then down and up, and down and up. Praying and hoping. Hoping and praying. I just trade what is happening and what is likely to happen in the next 30 minutes or less. It is much easier to forecast 30 minutes out than 3 months out!

 

[volpri]

ES a few minutes ago. Nothing to hide. Simple PA. Open for all to see. The large intraday wedge started around 6:15 a.m. not shown in the chart.

 

[volpri]

WHAT HAPPENED? SIMPLE PA. RIDE PRICE. DON'T SWEAT THE PRICE. NOTHING TO HIDE. OPEN TO ALL TO SEE. PA NEVER LOSES ITS EDGE.

 

[marketsurfer]

Hindsight is always 20/20. I forecast, you give a history lesson. There's a major difference.

surf