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Riding it Out


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#1 IYB

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Posted 26 May 2009 - 02:22 PM

There comes a time when you have to stand behind what you believe, and this is one such time. ;) My work (primarily Seven Sentinels) says that momentum has turned down in recent weeks and prices will follow as night follows day. I moved my stops to the yearly highs and am gonna ride this out, or let 'em come and get me. :o Fwiw. Good trading all, D
“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, one by one.” Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds

#2 eminimee

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Posted 26 May 2009 - 02:27 PM

Go for it...if we take out today's high ....you only have to worry about SPX 922.... ....so far they don't want to buy the last hour....I'd be worried about a fake stop on a fake trade by a certain individual more than I'd worry about yours. lol

#3 eminimee

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Posted 26 May 2009 - 02:31 PM

two charts...
http://stockcharts.com/c-sc/sc?s=$OEX&p=60&yr=0&mn=8&dy=0&i=p04229052969&a=79663062&r=2022.png

http://stockcharts.com/c-sc/sc?s=$OEX&p=15&yr=0&mn=0&dy=21&i=p89820231013&a=89308538&r=5125.png

#4 qqqqtrdr

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Posted 26 May 2009 - 02:31 PM

There comes a time when you have to stand behind what you believe, and this is one such time. ;) My work (primarily Seven Sentinels) says that momentum has turned down in recent weeks and prices will follow as night follows day. I moved my stops to the yearly highs and am gonna ride this out, or let 'em come and get me. :o Fwiw. Good trading all, D


IYB: It is tough to ride it out during these big moves up.... It looks like your charts are very similar to my methodology, but yours seemingly seem to be right on target as of late for medium term trade.....

My charts show a Neutral Trend, but are generally bearish due to put/call ratio. My short term oscillators seem to be broken as of late, but I do have charts that show medium term bearishness especially those for put/call.... They show bearishness for 1 to 2 weeks so far....


Barry

#5 TMN

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Posted 26 May 2009 - 02:41 PM

There comes a time when you have to stand behind what you believe, and this is one such time. ;) My work (primarily Seven Sentinels) says that momentum has turned down in recent weeks and prices will follow as night follows day. I moved my stops to the yearly highs and am gonna ride this out, or let 'em come and get me. :o Fwiw. Good trading all, D


i hope you wont have to trade for a few weeks, i am hanging on to this ticket for a while now and i can tell you the most tempting thing is to not short the ******** out of this mkt every time it bounces in front of your nose... faggaf! risk management is everything :)

#6 IYB

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Posted 26 May 2009 - 02:45 PM

risk management is everything :)

Amen, Bro! Thanks for the posts, guys. <_<

Edited by IYB, 26 May 2009 - 02:49 PM.

“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, one by one.” Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds

#7 capgain55

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Posted 26 May 2009 - 02:47 PM

There comes a time when you have to stand behind what you believe, and this is one such time. ;) My work (primarily Seven Sentinels) says that momentum has turned down in recent weeks and prices will follow as night follows day. I moved my stops to the yearly highs and am gonna ride this out, or let 'em come and get me. :o Fwiw. Good trading all, D

I hear ya IYB, My stop was never hit today SDS 57, but i pulled it in the last hour. Staying short from last weeks 57.25 entry.

Good trading to ya.

cap.

#8 Lysis

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Posted 26 May 2009 - 02:49 PM

There comes a time when you have to stand behind what you believe, and this is one such time. ;) My work (primarily Seven Sentinels) says that momentum has turned down in recent weeks and prices will follow as night follows day. I moved my stops to the yearly highs and am gonna ride this out, or let 'em come and get me. :o Fwiw. Good trading all, D

I hear ya IYB, My stop was never hit today SDS 57, but i pulled it in the last hour. Staying short from last weeks 57.25 entry.

Good trading to ya.

cap.


Best of luck. I'm seeing a potential run back up to 940, but I remain bearish at heart.

#9 da_cheif

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Posted 26 May 2009 - 02:59 PM

oh where oh where are da bullz......snort

#10 AChartist

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Posted 26 May 2009 - 03:07 PM

At home, counting their money.


oh where oh where are da bullz......snort


"marxism-lennonism-communism always fails and never worked, because I know

some of them, and they don't work"  M.Jordan