The Surf Report--part 2
- Thread starter marketsurfer
- Start date
Surfers, we are not getting any clear entry signals from the pricedriver system--- there is some pressure pointing downward today--however, at this point, it isn't strong enough to trigger an entry--therefore, I am staying flat across the board.
surf
surf
The short signal has firmed up enough to test the waters with a short entry in the Sept. ES @ 1184.75-- short with 6 contracts.
surf
surf
Adding 6 additional contracts short at 1188.00
surf
surf
adding 6 @ 1192 total 18 short.
surf
surf
We are holding the shorts here, underwater at this time-- but, as always, give it some time to work out--- the short signal remains very clear.
surf
surf
It's the pricedriver system--- a confluence of several factors that make me bearish enough to short today. Holding here. Surf
Just a quick count before I continue my vacation. At 1200 including the current 3 shorts the Journal is positive 45 pts per unit (6 cars). Since Surf started using the full 5 units most of the time, that is only 9 pts for a full position.
In plain English, he made app. 9 pts in 6 months using the full position...
In plain English, he made app. 9 pts in 6 months using the full position...
as expected, the market has begun to sell off and short trade has entered profit zone for now--holding. surf
Surf, yes you are getting profitable on this one again but have you consider taking profit at certain targets?
Afterall it is Emini S&P you are trading and volatility itself gives you opportunity to exit your trades or partial exit so that you do not need to suffer losses unnecessarily.
What scenario you have in mind?
Like a selloff to new low or a retest of previous week important levels.
Those are not technical analysis based targets. Those are part of the market structure that provide reasonable objectives for your trades.
Good luck on this one.
p.s. I have breadth overbought triggered by close yesterday, that will buy you 2 to 3 days of weaknesses usually.