The Surf Report--part 2

marketsurfer · Apr 27, 2011

Quote from Mike Okistini:

Short gold and short oil, both up strongly. Man you are the best fade trade.

I am going long 500 shares of SMRF. That is the ETF that tracks 2x the inverse of all your calls. Should be a lock!

I see direxion has a new product

No doubt, my trades have sucked wind lately.....

luisHK · Apr 27, 2011

Quote from Mike Okistini:

I am going long 500 shares of SMRF. That is the ETF that tracks 2x the inverse of all your calls. Should be a lock! [/B]

And good luck to Surf anyway

marketsurfer · Apr 27, 2011

Quote from luisHK:

And good luck to Surf anyway

Thanks to my Hong Kongian friend. This entry may nail the post jubilation sell off. Time will tell!

Gabfly1 · Apr 27, 2011

Quote from Pekelo:

...No, but statistically speaking he is due to get lucky....

Not if his trades are independent of one another, since joint probability has no bearing on the probability of the next outcome. Generously assuming, of course, that numeric probability can reasonably be attributed to trading with meaningful reliability. But then, surf does often compare trading to a series of coin flips...

volente_00 · Apr 27, 2011

Quote from volente_00:

Still in play

88-92 is value

And now you know why

marketsurfer · Apr 28, 2011

Up a couple of points in the ES short from 1353. This may be the start of the projected meltdown. Holding shorts.

marketsurfer · Apr 28, 2011

Hanging on short here thru this apparent (hopefully) topping action. The blow off top has occured, and the edge is on the downside. Good luck!

Lornz · Apr 28, 2011

This thread makes me cringe. Why do you insist on battling the market? If you had listened to Volente_00 (and others), you'd be up 60 points now, is that pennies for you too?

I know you don't "believe" in TA or trendfollowing. I sincerely regret holding gold since the 600s and trading off basic S/R on the ES...

I just don't understand why you want to make it so hard for yourself?

Spooz Top · Apr 28, 2011

Quote from marketsurfer:

Hanging on short here thru this apparent (hopefully) topping action. The blow off top has occured, and the edge is on the downside. Good luck!

There has been zero signs of a 'blow off top"....not even close!

This is textbook consolidation for the next leg higher or an ERB.....one could make an argument for a spinning top/indecision depending on the closing candle.

GL

RCG Trader · Apr 28, 2011

Quote from marketsurfer:

Hanging on short here thru this apparent (hopefully) topping action. The blow off top has occured, and the edge is on the downside. Good luck!

Whoa...WHOA!!!

A blow off top is strictly a TA term surf, and since you do not use TA, what are you talking about exactly?