The Surf Report

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Chinese are ready to pop, Western markets will follow suit most likely. Pop down that is.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1713035>
 

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Quote from JSSPMK:

Chinese are ready to pop, Western markets will follow suit most likely. Pop down that is.
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thanks, JSS. let the death spiral begin on rollover thursday!

classic!

best,

surf
 
Quote from JSSPMK:

Chinese are ready to pop, Western markets will follow suit most likely. Pop down that is.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1713035>
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Dude, you're looking at the wrong chart ... and in the wrong direction.

The YM is going to head backup to challenge 14000 before it even comes close to touching 13174.

JJ
 

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I don't see how the roll creates an additional loss. He simply exits his December contract between now and expiry, and then, if he is so inclined, he reinstates the trade at the March contract price level. It is not an additional loss at that point. The only loss thus far would be the difference between where he entered the December contract and where he exited it. Upon closing out his December contract trade, the entry into the March contract would essentially be a fresh trade.
 
Quote from JimyJam:

Dude, you're looking at the wrong chart ... and in the wrong direction.

The YM is going to head backup to challenge 14000 before it even comes close to touching 13174.

JJ
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You could be right, could be wrong. I don't trade long term charts, I just voice an opinion on them. There is way too much noise on longer term charts to base trading decisions using high leveraged futures in my case and I don't have any interest in trading 1 lot positions in YM nor ES.

The reason I posted a Chinese chart is because once they start beating the drums in a big way we will most likely follow suit.

I would have thought a rally is a must today to 'prevent' China selling off next Monday, giving them an incentive to buy the market.
 
Quote from Thunderdog:

I don't see how the roll creates an additional loss. He simply exits his December contract between now and expiry, and then, if he is so inclined, he reinstates the trade at the March contract price level. It is not an additional loss at that point. The only loss thus far would be the difference between where he entered the December contract and where he exited it. Upon closing out his December contract trade, the entry into the March contract would essentially be a fresh trade.
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You're right T-Dog it doesn't create an additional loss, he loses points on the spread difference bewteen the two contracts.

For the purposes of his trade (and this journal) he definitely is counting it as being one trade. :D

JJ
 
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