The Surf Report

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Quote from JSSPMK:

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I think you are drawing dramatic conclusions. Personally, I would like to see the markets fall because they seem bubbled up to me. But it will happen when it happens. At this point, although it is beginning to look interesting, the chart does not yet look particularly ominous.
 
Quote from Thunderdog:

I think you are drawing dramatic conclusions. Personally, I would like to see the markets fall because they seem bubbled up to me. But it will happen when it happens. At this point, although it is beginning to look interesting, the chart does not look particularly ominous.
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As I said I do not trade off dailies etc, but I think it would be prudent to scratch the head and consider being at least neutral at the moment. This is just my opinion, not a call :)
 
Quote from JSSPMK:

As I said I do not trade off dailies etc, but I think it would be prudent to scratch the head and consider being at least neutral at the moment. This is just my opinion, not a call :)
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Fair enough. In the meantime, I will still swing both ways intraday.
 
Quote from Banjo:

surf, how do you handle the negative roll?
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hey

nice to see you here. where are you on earth right now? smooth sailing?

i simply absorb the spread, unfortunately, it's a fact of life when trading for the longer term.

surf
 
Quote from marketsurfer:

as expected, the YM almost has had a complete retrace of the reaction spike yesterday. expecting sub 13000 shortly.

regards,

surf
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we are continuing holding the YM short over the weekend, still flat oil.

surf
 
Quote from marketsurfer:

...i simply absorb the spread, unfortunately, it's a fact of life when trading for the longer term.
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What "absorption?" You are no worse off as a result of the rollover itself. You simply exit your December contract position and begin anew with a different reference point in the March contract. You are not "absorbing" the difference. It is not taken from your account. The only thing you are absorbing is the difference between where you entered the December contract and where you exited the December contract. The new starting point in the March contract is irrelevant in respect of your trading account. Where it goes from there is what matters.
 
Quote from JSSPMK:

So guys, let's have a bet for Monday, just for fun.
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OK kid, you're on.

The first drop was the one to get in on, this second drop is just the market trying to find a bottom before it heads backup.

In terms of a bet, I'm looking for a positive close on Monday.

Good trading,

Jimmy Jam
 

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Quote from JimyJam:

OK kid, you're on.

The first drop was the one to get in on, this second drop is just the market trying to find a bottom before it heads backup.

In terms of a bet, I'm looking for a positive close on Monday.

Good trading,

Jimmy Jam
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Alright, as a bet I will take an opposite side. I don't believe markets managed to find any sort of bottom on Friday, in fact the complete opposite ImO has taken place, in light of what world markets are showing - weakness/uncertainty (especially Hang Seng considering it's unrealistic growth over a 2 month period) futures have closed down without retracing. If I had an advisory service on equity investment I would most certainly discourage any buying right now. It will take a heck of an attempt to negate monthly chart's bearishness/weakness to take us on another bull run, not saying it's impossible of course, just making an imaginary bet for next week - RED
 
Quote from JimyJam:

OK kid, you're on.

The first drop was the one to get in on, this second drop is just the market trying to find a bottom before it heads backup.

In terms of a bet, I'm looking for a positive close on Monday.

Good trading,

Jimmy Jam
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What the hell was that? I mean, that chart.:confused:
 
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