The Surf Report

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the system shined nicely today in both the dow and nasdaq. we entered the day short the nasdaq, profiting nicely on the down wave. as you can see from the attached chart, the upper channel line was never violated in the DJIA keeping us flat within the channel, then the drop began--the dow careened downward toward the lower channel line, breaking it , triggering the shorts -then for five minutes poped up back into the channel requiring a decision to be made to close or hold--our TA work indicated to HOLD for another 5 minutes before closing, the drop began again back out of the channel. see posted chart. we caught a very nice downwave in the dow and nasdaq today. holding shorts overnight.

best,

surfer
 

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Quote from marketsurfer:

the system shined nicely today in both the dow and nasdaq. we entered the day short the nasdaq, profiting nicely on the down wave. as you can see from the attached chart, the upper channel line was never violated in the DJIA keeping us flat within the channel, then the drop began--the dow careened downward toward the lower channel line, breaking it , triggering the shorts -then for five minutes poped up back into the channel requiring a decision to be made to close or hold--our TA work indicated to HOLD for another 5 minutes before closing, the drop began again back out of the channel. see posted chart. we caught a very nice downwave in the dow and nasdaq today. holding shorts overnight.

best,

surfer
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nice job. what a difference a couple of words from greenie can make.
 
Quote from lsudaytrade:

RIMM guy still short surf? IMO he could possibly b/e later this wk or next wk.
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no, he added to short position today and actually made a profit, closing out the trade.

:) :)
 
marketsurfer, the neo gann channel on the Dow is around 150 pts wide from 10650 down to 10500. Do you think this is the most efficient way to trade? I mean, you're missing a lot of action because you're only trading channel breaks in either direction and staying flat in the middle (150 pts).

-Fast
 
Quote from marketsurfer:

no, he added to short position today and actually made a profit, closing out the trade.

:) :)
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Thats the benefit of having a LARGE account. You can get away with a lot of trades similar to this one :D

-Fast
 
Quote from Fast_Trader:

marketsurfer, the neo gann channel on the Dow is around 150 pts wide from 10650 down to 10500. Do you think this is the most efficient way to trade? I mean, you're missing a lot of action because you're only trading channel breaks in either direction and staying flat in the middle (150 pts).

-Fast
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hey fast,

its 10657---10523. the width varies depending on the time/price. yes, the system misses some of every move, but once these lines break the odds are VERY high for continued move in the same direction. this is the system-- read my innerworth interview posted on www.marketsurfer.com under the dave's wave tab for more info. i do daytrade around the system with small size. the system works, so i don't care if i am not getting max efficiency out of every execution. i am attempting to nail the big waves, therefore missing some of the move is immaterial. hope this makes sense.

surfer:)
 
Quote from Fast_Trader:

Thats the benefit of having a LARGE account. You can get away with a lot of trades similar to this one :D

-Fast
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absolutely. the dude was 100,000 shares short at the open, shorted another 60,000 shares this morning, blew out with a profit after being down substantially yesterday. man, what a ride !!

:cool:
 
surfer, makes sense. I have linnear regression channels on my charts, and I'm doing almost the opposite of what you do (maybe thats why Im losing money, LOL). I short when price goes outside the top LR line; and go long when price breaks down through the bottom LR line. Price tends to continuously bounce around the LR channel. Your comments are appreciated.

-Fast
 
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