The Surf Report

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Quote from marketsurfer:

once again, the dow approached the upper channel and got rejected thus far 3:22. we are still flat in the nasdaq and dow at this time.


on a side note, i am prepared to enter heroic sized short positions in the dow/nasdaq upon FIRST HINT ON THE NEWS WIRE of another terrorist attack in the united states, regardless of where the market is in relation to the channel. let's pray that this never happens again, but as market participants we need to be ready for anything. have a great weekend !!!!!!

all the best,

surf:cool:
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Heroic size? Isn't that a Subway Sandwich term for hero sandwiches?
 
When the market breaks to new highs on the day in the last hour of trading, the Dow has a strong tendency to trade higher the next day. Over 80% of the time, the market posts new highs versus the previous day when an intraday high is made in late afternoon trading. This suggests a strategy of going with a move to higher prices in late trading and holding the position overnight to take advantage of higher prices the next day. But don't forget to take your profits...after a late move to higher prices, the Dow manages to close higher the next day only about 47% of the time.

Caveat: New highs could mean .01
 
agassi,

one can trade the system with any amount of capital. theoretically, you could just buy one qqq or DIA if commissions were not in the picture. when a position goes my way, i stay in it as long as possible attempting to catch a huge move by using discretionary trailing stops. if it does not go my way immediately, i close it out fast. so it depends how long i stay in-- i have stayed in for several months and i have stayed in for 10 minutes. hope this helps.

best,

surf:)
 
Quote from They:

When the market breaks to new highs on the day in the last hour of trading, the Dow has a strong tendency to trade higher the next day. Over 80% of the time, the market posts new highs versus the previous day when an intraday high is made in late afternoon trading. This suggests a strategy of going with a move to higher prices in late trading and holding the position overnight to take advantage of higher prices the next day. But don't forget to take your profits...after a late move to higher prices, the Dow manages to close higher the next day only about 47% of the time.

Caveat: New highs could mean .01
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Of that 80% statistical data, how much of that data was gathered in bull markets, and how much was gathered in bear markets?

Kind of like saying that during summer the chances of temperatures rising is 80%, but in the winter the chances of temperatures rising is only 40%.

This, in my opinion is why people don't do well in bear markets. They treat them with the same approach they took to with bull markets.

I am not saying we go up or down on Monday, who knows. My point is that TA should adjust for market conditions, in the same way we adjust for different seasons of weather and time.
 
good morning,

our index system placed us LONG in the dow near the close friday and we are holding into the open. will enter LONG nasdaq above the upper gann channel figure.

enjoy,

surf:) :) :) :cool:
 
despite some euphoria at the open, the dow has dipped back down, we are still holding longs. the upper channel figure in the nasdaq held it down thus far, we are still flat here.

best,

surf:)
 
greetings,

wow, we came up to the upper line again but did not break it by our stated parameters in the dow. still flat. the nasdaq also approached the upper figure but never broke it. still flat.


surferoverdrive:)
 
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