The Surf Report

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Quote from marketsurfer:

system short , initial stops @ 10603. watch 10523 area for support --- if 10523 breaks should portend for additional wave down.


how one handles profits is up to you. trailing stops or just let it ride. your choice

surfer
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I got stopped on my DIA @ 106.03 ......are you re-loading or waiting Dave?

rttrader1-
 
Quote from rttrader1:

I got stopped on my DIA @ 106.03 ......are you re-loading or waiting Dave?

rttrader1-
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rr,

10603 was the initial entry stop. after profits are attained, i usually follow up with a trailing stop based on technical factors. see the attached chart--- you see the dow approach the yellow line and form a double bottom, then it breaks thru the moving average, as the OBV begins an upward ascent. covered the shorts and then reshorted on the first red bar thru the pink line and am staying short since the pink line was not broken on the next upswing , OBV peaked and dropped and no other technical factors indicated further upside. hopefully this makes sense.

short entering friday.

surfer:)
 
you can see the clear double bottom form right above the yellow support line ( 20 points )--this in and of itself was not enough to close the position--then the index broke thru the SMA and nicked the upper B band--this is when i started considering getting out, i hesitated, then closed the position when the upper bband was nicked again. see it clearly on the chart. short entering tomorrow.

surfer
 
Quote from marketsurfer:

rr,

10603 was the initial entry stop. after profits are attained, i usually follow up with a trailing stop based on technical factors. see the attached chart--- you see the dow approach the yellow line and form a double bottom, then it breaks thru the moving average, as the OBV begins an upward ascent. covered the shorts and then reshorted on the first red bar thru the pink line and am staying short since the pink line was not broken on the next upswing , OBV peaked and dropped and no other technical factors indicated further upside. hopefully this makes sense.

short entering friday.

surfer:)
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Surf,

Yeah I saw that, but had other indicators besides yours working also so I held true to my initital call and stops.

rtttrader1 -
 
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