No wonder there's not enough hot soup to go round, you #$%^@$%.
tampa's "short skirt" trades...
- Thread starter tampa
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My SOMP⢠is working fine, thank you very much for asking - I was merely referring to hearsay from some ex-traders. But back to trading, my friend. I believe you can significantly improve your bottom line by combining the best of Linda Raschke and Alan Farley - what I had in mind was the "coiled spring up your short skirt" setup.
The first day of the trading week is one full of excitement, and unanswered questions. Questions like should I have a Bullish or Bearish bias? Where did I leave my pants last night? (I could have sworn they were in the kitchen.)
Normally I trade the ES - the mini-S&P 500 contract. But not today - the NQ is what I am looking at this morning. It has nothing to do with thinking that one has greater potential over the other â itâs a practical matter, as I spilled diet soda on my keyboard last Saturday, and the âEâ is sticking.
A while back there was a thread talking about how many people read ET â imagine my surprise when Father Conners from Saint Anthonyâs called last night concerning the money I found next to the Holy Candles â so I am starting the week off flat (damn-it).
More as the day progresses...
Normally I trade the ES - the mini-S&P 500 contract. But not today - the NQ is what I am looking at this morning. It has nothing to do with thinking that one has greater potential over the other â itâs a practical matter, as I spilled diet soda on my keyboard last Saturday, and the âEâ is sticking.
A while back there was a thread talking about how many people read ET â imagine my surprise when Father Conners from Saint Anthonyâs called last night concerning the money I found next to the Holy Candles â so I am starting the week off flat (damn-it).
More as the day progresses...
09:30 Coming in today, I am concerned about the upside potential in the NQ â I see overhead resistance at 1135, so that means that I will avoid going long unless and until that price area fails to hold. I donât like to pick targets, in essence saying itâs going there and no further, but thatâs the price I have stuck firmly in my head â I cannot and will not change my mind.
10:01 The high at this point is 1132 1/2 - so far I am right. Iâve made up my mind that the short side is where I want to be, and will wait it out. I donât feel good about it â but I just donât trust the long side of the market this morning.
10:30 I know Iâm right â but... The trend is my friend, and the trend is up â the TRIN is mildly bullish, and Iâm wavering. Obviously there is some disagreement/hesitation at this level â but...
11:10 Sold @ 1122 An impressive call on the high â but not enough conviction to sell it.
11:27 Covered @ 1122 Breakeven. Prices seemed headed in my direction, but the TRIN just would not cooperate â moved my stop to the entry, and it was hit.
11:35 I still remain bearish, but am troubled by the strength in the TRIN â itâs lunch time, and will now wait to see what develops later.
10:01 The high at this point is 1132 1/2 - so far I am right. Iâve made up my mind that the short side is where I want to be, and will wait it out. I donât feel good about it â but I just donât trust the long side of the market this morning.
10:30 I know Iâm right â but... The trend is my friend, and the trend is up â the TRIN is mildly bullish, and Iâm wavering. Obviously there is some disagreement/hesitation at this level â but...
11:10 Sold @ 1122 An impressive call on the high â but not enough conviction to sell it.
11:27 Covered @ 1122 Breakeven. Prices seemed headed in my direction, but the TRIN just would not cooperate â moved my stop to the entry, and it was hit.
11:35 I still remain bearish, but am troubled by the strength in the TRIN â itâs lunch time, and will now wait to see what develops later.
Indigestion if you're lucky.
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