The Surf Report

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goodmorning,

as you know, the system positioned us short in the nasdaq yesterday when 1577 was violated. premarket is indicating continued drop this morning. our strategy is to try to catch as much of this wave as possible by using discretionary trailing stops. our exits are always discretionary except for the initial entry stop point which is normally near the mechanical entry level and as the market moves in our direction stops are trailed

best,

surf



:cool:
 
good evening,

its saturday night and i have collected some thoughts on monday's potential. we entered friday holding the nasdaq index shorts entered at 1577. a fantastic gapdown in the morning provided a very nice cushion of profit and the decision was made to hold the shorts over the weekend despite the short squeeze rally that occured during the day. crucial support of 1527 and 1503 were broken intraday, but we bounced up off of 1495 to directly sub 1550 then dropped back to 1535 just 8 points above the 1527 critical support. we are anticipating additional downside monday and if 1527 is broken, fully expect a further drop to 1503 or below, therefore holding all shorts. the previously spoken of neogann channel is still in full effect at this time/price juncture.



all the best,
surf

____________
when black monday comes
i'll collect everything i own
and before my friends findout
i'll be on the road........

i'll be up on that hill
wearing no socks or shoes............:cool:
 
goodevening,

as anticipated, the downward slide in the nasdaq continued today. we are holding all shorts into tuesday open at this price/time juncture.

best,

sUrf:cool:
 
surf,

Do you ever exit into a target, or do you always get taken out with trailing stops?

BTW, you have an interesting trading style. Thanks for posting.

3dog
 
3 dog,

thanks for the post. no, i rarely exit into a target after a profit is reached. i utilize discretionary trailing stops to get out when it doesn't feel right. however, immediately upon entry my stops are at the entry point or at the most several points away(negative equity). my system's function is to catch BIG moves without being stopped out all the time. i hope this helps.

surf:cool:
 
good evening,

its tuesday night and we are holding shorts in the nasdaq index into the open wednesday. our system caught an awesome downwave from 1577 in the composite. as anticipated, when 1527 was violated a move followed to 1503 where the composite found some support then we broke thru closing at the low of the day. we are still expecting further downside. as stated earlier, our stops are discretionary--however, i will do my best to post in real time on elite chat our current nasdaq exit strategy and various day trades executed.

chaos surfer:cool:
 
Very Excellent Dave,

Caught an excellent wave, & in the tube, ride it out to a graceful exit. I believe your heading into the stretch, stay balanced as I know you will!!

Hope you the mrs, & little 1s are all doing well! :)


God Bless & GFtY!! Kelly
 
MarketSurfer,

First off I would just like to say that I enjoy the thread very much :)

BUT, out of curiosity what vehicle are you using to trade the nasdaq comp???

PEACE and goodtrading,
Commisso
 
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