The Surf Report--part 2

Quote from Pekelo:

We have reached the SMA 9 on the daily, I think we will bounce from here. I would close the shorts and reshort the bounce when we make a 2nd top.

Counting the Sunday night high 1373 ES top (that is about 1377 SPX) we reached the area what I mentioned earlier....



That was a pretty good "guess" you have to admit. Sure there was a choice which top we count from, but still, not bad, not bad at all.... :)
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Pekelo, you clearly deserve a significant allocation of Surfer's paper profits.
 
After several early entries during the top consolidation phase--- this ES short may have nailed the pending descent. Looking for 100 plus points on the downside.

Surf
 
Thanks for following along. I am expecting a substantial decline from this point forward--- plan on holding shorts.

I am heading down south to the beach for several weeks or so-- (super pale and super fat, time to get into shape ) therefore will not be updating as often--- see everyone when I return or during extreme events if possible. stay tuned

best,

surf
 
Quote from marketsurfer:

After several early entries during the top consolidation phase--- this ES short may have nailed the pending descent. Looking for 100 plus points on the downside.

Surf
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Or is this a retest of the neckline before a run to 1420 ?


:)


My bet is the next 80 points are north
 
Quote from EPrado:

I like Surf. Regardless of our disagreements about trading/Trend followers/Neiderhoffer....he is a stand up guy. He posts his trades real time and doesn't bullshit about entries/exits. His bravado is a bit much at times...
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I too, think Surf is a brave soul. I need to go out to lunch with him or something before I decide if I like him. Now I can say I like one of his greatest rivals, ProfLogic, but that is because as a vendor he has kept his word for nearly a decade. Surf, I like his ability to take heat, and his transparency, but I don't know if he is truly consistent as know one know how he trades.
 
Quote from volente_00:

Or is this a retest of the neckline before a run to 1420 ?


:)


My bet is the next 80 points are north
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My sentiments exactly....i would be tightening my trailer right around that level.
 
There was not a single sell signal here until the mondays close off the Osama/OBL closing candle on moday afternoon.

i`ll give smurf credit here for being here & exposing himself to criticism...& even more credit if he were trading real presidents.

watching for an inflection point at that NL.
 
Had a family emergency, missed the action yesterday, nice holding Surf!

Quote from Pekelo:

We have reached the SMA 9 on the daily, I think we will bounce from here.
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This was posted at 1348 and we did bounce as high as 1354 from the Tuesday low. Mostly the action happened AH. Honestly, I thought the bounce would be higher, although the 1354 ES is 1358 SPX, so that wasn't so low, although not a clear doubletop.

This morning we are bouncing from 1337ish cash, and I mentioned earlier that this was the former support, now resistance (1338-40) on the daily chart. So until we go through that coinvincingly, I wouldn't count on any 100 pts gain.

Oh yeah, I was expecting to go up to the SMA 9 line from below, and it happened again, in AH. Last night's high of 1348 was 1352 cash, where the SMA 9 is now.

I try not to overbear this journal and will be posting less.

Again, nice holding! (don't forget to take profits)

P.S.: I have just noticed, giant inverse H&S on the NDX 3 days chart...
 
Quote from Pekelo:

I try not to overbear this journal and will be posting less.
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Uhhh, you could always start your <i>own</i> journal, rather than horking Surf's well-earned pageviews...
 
Surf Alert. short short short the bounce.


This pre open bounce appears to be a compelling opportunity for traders to get short in front of the jobs number. Looks like another slight up to down day is on it's way.

Staying short SP 500


Regards
 
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