The Surf Report

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market staged an impressive rally today, stopping us out of our shorts ( profitably) and a new neo-gann channel was created on the wheel in this time/price juncture--- dow channel is 8677 to 8483, nasdaq is 1383 to 1407--long above, short below and flat in the middle.

best,

surfer:cool:
 
Quote from dgabriel:

That's a tight channel, which is what I have been waiting for
More...

yes, the nasdaq is the tightest it has been in quite awhile. i am looking forward to trading it also !!

best,

surf:)
 
today was intense. the nasdaq broke out of the channel on the upside momentarily causing longs to be entered. we were immeditely stopped out when the index dropped back into the channel. the nasdaq then inched toward the lower channel figure of 1383, reaching 1385 and reversing. currently flat the nasdaq and dow awaiting channel breakage.

best,

surf:cool:
 
as the market dropped thru the lower channel figures in the both the nasdaq and dow, we entered large short positions in both indexes and are currently SHORT. our trailing stops are relatively wide but are still locking in profits should this wave reverse. i am expecting additional downside here.

hanging ten,

surfer:) :) :)
 
we had a fun day today. captured profits in our dow shorts, then reshorted as the index dropped back thru the channel figure. held nasdaq shorts here. currently holding shorts in dow and nasdaq overnight into open.

best.

surf:)
 
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