Surf, what is your view on EUR right now? I have to ask since I use "classic" T/A and you oppose it (or so I was led to believe) and I previously pointed out a case of a possible retracement which was based on a classic divergence on weekly chart. I see you have recently closed your long, congrats on that.
The Surf Report
- Thread starter marketsurfer
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thanks.
yes, i concur with the retracement idea. selling off rapidly here=== see attached illustration.
best,
surf
WHOA, YM continuing the sell off. maintaining shorts death spiral may have begun-------see YM illustration of situation right now--brutal brutal brutal.....
world markets being thrashed.
http://online.wsj.com/mdc/public/page/mdc_international.html?mod=mdc_topnav_2_3004
best wishes,
surf
world markets being thrashed.
http://online.wsj.com/mdc/public/page/mdc_international.html?mod=mdc_topnav_2_3004
best wishes,
surf
No, that's good analysis. As I said before and your chart shows it, 12,500 is the next level, if broken, will cause some more panic. After that, 12k-even is mombo critical for any bull case here. If that goes, whew, anything could happen.Quote from frugi:
A mild confluence of of reasons why I would be tempted to take profit tomorrow.
Sorry, they're TA-based.
Then again I'm usually too early and your position is none of my business.
This is so "fall of 1998" right now. Remember however, that panic was short-lived. This one may not be.
is it happening again?????
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Readers,
I am going to be taking a hiatus from the surf report for an indetermined period of time. Thank you for joining me on this brief trip, i have enjoyed your company. The friendships discovered will be with me always.
all the best,
surf
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I am going to be taking a hiatus from the surf report for an indetermined period of time. Thank you for joining me on this brief trip, i have enjoyed your company. The friendships discovered will be with me always.
all the best,
surf
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march 2007
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Quote from marketsurfer
hey pekelo,
no, there isnt a target. but i will look to close the position at 60--75% retrace here depending on market activity, etc. entered 13270 YM
Smurfer,
Hey Dave,
Long time no chat
). Looks like you are getting a little redemption here. Some friendly words to ponder, since I know you have a good basis for entry, yet I believe your exit criteria is still on the weak side.
Instead of looking to retain 25%-40% profitability why not invert your numbers and set your stop based on retaining 60%-75% of your realized gains. So a 25% trailing stop based either upon the daily close, since market closed near lod today, or since you like the intraday entry, how about an intraday exit strategy, using an intermediate timeframe? Base it upon recalculation of your new channel numbers, possibly?
Pick a timeframe, set a hard stop, and trail it! Dave remember the large waves back in the days of the Nasdaq system? That is how the large R multiples are made, by staying with the trade while it is still in the direction of profit.
Also a reminder for you and others who read here we are in OE week, heading into the last two trading days. The action could change, yet the momentum is which direction? Newtons law on this is stated how?
BTW, TLo has an awesome site these days and is doing some great work. She has been running here own fund and has worked out her strategy with a quant guy for sometime.
Here's a link. http://powerswings.com/ Check it out, I think you'll find her past couple years work interesting.
Well Take Care, and hang in. I would just like to see you get the most out of this that is humanly possible.
God Bless and Good Trading to you!
Kelly
hey pekelo,
no, there isnt a target. but i will look to close the position at 60--75% retrace here depending on market activity, etc. entered 13270 YM
Smurfer,
Hey Dave,
Long time no chat
). Looks like you are getting a little redemption here. Some friendly words to ponder, since I know you have a good basis for entry, yet I believe your exit criteria is still on the weak side.Instead of looking to retain 25%-40% profitability why not invert your numbers and set your stop based on retaining 60%-75% of your realized gains. So a 25% trailing stop based either upon the daily close, since market closed near lod today, or since you like the intraday entry, how about an intraday exit strategy, using an intermediate timeframe? Base it upon recalculation of your new channel numbers, possibly?
Pick a timeframe, set a hard stop, and trail it! Dave remember the large waves back in the days of the Nasdaq system? That is how the large R multiples are made, by staying with the trade while it is still in the direction of profit.
Also a reminder for you and others who read here we are in OE week, heading into the last two trading days. The action could change, yet the momentum is which direction? Newtons law on this is stated how?BTW, TLo has an awesome site these days and is doing some great work. She has been running here own fund and has worked out her strategy with a quant guy for sometime.
Here's a link. http://powerswings.com/ Check it out, I think you'll find her past couple years work interesting.
Well Take Care, and hang in. I would just like to see you get the most out of this that is humanly possible.
God Bless and Good Trading to you!
Kelly
Surf,
Thank you for the report. Me been reading lurking since 2005, please let me know where you will be posting next and when. Dramatic call you just make....hope you come back.
BabyBunnyL.
Thank you for the report. Me been reading lurking since 2005, please let me know where you will be posting next and when. Dramatic call you just make....hope you come back.
BabyBunnyL.
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