The Surf Report--part 2

Quote from marketsurfer:

Folks,

We bailed on these 6 ES sept longs at 1309. There is simply too much negativ for the slate of positive earnings to battle much more

Flat with short trigger unknown at this juncture.

Surf
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Getting chopped up with the rest of the fixed systems huh?

Surf has resorted to using TA and Stops......the same two things he bashes.
 
Chopped up? The shorts made solid profits and the long ( as uncomfortable as it was) closed with 2 points profits. Not getting chopped up yet.

I believe the initial good news pop is over for the session and flat makes the most sense here. No fixed system. :confused:
 
Quote from Gabfly1:

Presumably aside from exhaustive testing, is there an underlying rationale for this power-of-seven rule? To be candid, I never thought that the markets had such numeric "symmetry," for lack of a better word, and across the board, at that. Admittedly, I don't know your method and, therefore, have obviously not tested it. But you will forgive me for being a tad skeptical, since that's the nature of our trade.
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There is much numerology and other mystical auras in this field. There always is when order seeking humans are faced with the unknown or randomness.

With that said, there have been successful tests indicating that markets have unusual reactions around double and triple zero numbers. I believe Niederhoffer led this study but I diont have the references handy. Surf
 
Quote from marketsurfer:

Chopped up? The shorts made solid profits and the long ( as uncomfortable as it was) closed with 2 points profits. Not getting chopped up yet.

I believe the initial good news pop is over for the session and flat makes the most sense here. No fixed system. :confused:
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Surf, I am worried about you. You are contradicting yourself more and more.
 
It's ok, trading is just his hobby...can't expect him to have the discipline and consistency of a professional :)

Quote from EPrado:



Surf has resorted to using TA and Stops......the same two things he bashes.
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Surf alert


While a few points were missed on the bounce entry, nothing about the price drivers have changed from the extreme bearish note.

Therefore, Short here once again from 1312 with full quiver of 6 contracts. Another test of the 1300 range should occur in near future swing.

Short

Surf
 
Here is what I don't get. The debt ceiling is going to be raised, that is a given. When that occurs (and it has to happen in the next 2 weeks) the market will rally 20-30 pts right away.

And that is fundamentals, not TA. So what is the point of trying to short it, specially longer term???
 
Quote from Pekelo:

Here is what I don't get. The debt ceiling is going to be raised, that is a given. When that occurs (and it has to happen in the next 2 weeks) the market will rally 20-30 pts right away.

And that is fundamentals, not TA. So what is the point of trying to short it, specially longer term???
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No, it's less than 50% on in trade.
 
Quote from Pekelo:

The same Intrade that gave 40% to Trump's running for president?
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That sounds about right. Less than 50% and it didn't happen. In trade needs to be looked at with a broad brush, not point by point.
 
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