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#31 goldswinger

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Posted 13 July 2009 - 06:18 PM

This Zoropbian is a pretty efficient language, a lot was told in two brief sentences..... It beats Esperanto.... GS.

#32 inamosa

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Posted 13 July 2009 - 06:32 PM

My stop for my IT short could get hit tomorrow Just a tad over 5 points from ES's market hours close This should be interesting My "stop is in and my emotions are out"
"Our job is not to predict where the market will go, but to interpret daily price and volume action to ascertain the facts of the current environment and make decisions based on that interpretation."
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months

#33 jjc

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Posted 13 July 2009 - 08:02 PM

My stop for my IT short could get hit tomorrow

Just a tad over 5 points from ES's market hours close

This should be interesting

My "stop is in and my emotions are out"


Alysomji,
"stop is in and my emotions are out" <= Where does this phrase come from? I saw some bozo teaching a bunch of really green traders
how to trade the Forex market. He had them all meet after a strong trend day in the EURUSD (guarenteed consolidation period), insisted they put a
position on based on some moving average thing he was teaching them on the 1 minute bar telling them to chase the trend. The whole room
full of them were being chewed up. He must have had some partnership with the broker he had them sign up with. He kept repeating that phrase.

jjc.

Edited by jjc, 13 July 2009 - 08:03 PM.


#34 inamosa

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Posted 13 July 2009 - 08:06 PM

It's a joke in reference to some guy named Oscar who makes videos on Youtube
"Our job is not to predict where the market will go, but to interpret daily price and volume action to ascertain the facts of the current environment and make decisions based on that interpretation."
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months

#35 CHAx

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Posted 13 July 2009 - 08:20 PM

Zoro,

In my humble opinion we cannot test the most recent lows around 865 ES in the next few days without it having bearish implications on the daily.


I highlighted similar setups where the rally failed, the 20 SMA rolls down hard and well, the rest is pretty obvious.


Posted Image

Bias, I am long ES 871... but I think a better short is at 905-908 ES.... I expect a reaction there, maybe 8-10 points...

#36 IYB

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Posted 13 July 2009 - 08:50 PM

Zoro,

In my humble opinion we cannot test the most recent lows around 865 ES in the next few days without it having bearish implications on the daily.


I highlighted similar setups where the rally failed, the 20 SMA rolls down hard and well, the rest is pretty obvious.

Bias, I am long ES 871... but I think a better short is at 905-908 ES.... I expect a reaction there, maybe 8-10 points...

Chax- been doing pretty much the same thing. How 'bout this scenario, where today is equivilent to Jan 28, 2009, Weds is Jan 31, and next Tues is Feb 5? Fits Z's scenario and the bearish scenario......
http://stockcharts.com/c-sc/sc?s=$NYMO&p=D&st=2008-12-13&en=2009-03-15&i=t35325429322&a=172148814&r=2386.png

Edited by IYB, 13 July 2009 - 08:53 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

#37 CHAx

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Posted 13 July 2009 - 09:54 PM

IYB, After some consideration I can't disagree that the same "play" could be in effect. However, I suspect "this time is different" than Jan 28 because the weekly setup is significantly more neutral than in January. I have nothing to post to prove I am correct, only my experience telling me that it is a low probability.

#38 zoropb

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Posted 14 July 2009 - 07:17 AM

IYB,

After some consideration I can't disagree that the same "play" could be in effect. However, I suspect "this time is different" than Jan 28 because the weekly setup is significantly more neutral than in January. I have nothing to post to prove I am correct, only my experience telling me that it is a low probability.

Chax odds are not good for weds low but longs are playing with fire up here. I mean is it worth 5-15 points with 50 or more on the table south.

btw got stopped at 896 after the drop to 894 (-4) and re-shorted 903.50 just now 75%

Love, be kind to one another, seek the truth, walk the narrow path between the ying and the yang.