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#31 IndexTrader

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Posted 23 February 2011 - 09:43 AM

There were postings over the last couple of weeks by many, on the obvious "The trend is up", when we were trading close to the top tick. So what's the read on the trendo-meter now?

Is it still up ? If so, would you buy the dip here ? If not here, where would you ?

Is it down ? If so, are you already short ? If not, where would you short ? Or if you are a one sided bull-only trader, would you go to cash ?

If you dynamically need to determine a entry point for long or short, would you let us know in real-time ?

Or if you belong to the group, which says "I have no clue", then the honesty is appreciated !.

My hourly is on a sell, but the daily missed the sell by a few ticks. I will update here, if my daily goes to a sell.


Let's see how many will stick their necks out and answer a honest trading question.



What does elliot wave say? Is it all over now?

Since your hourly has now gone to a sell, what do you do now? Sell on a rally? Wait for the daily to go to a sell, and then wait for a rally?

As for me, I think the trend is still up regarding the daily. However, I have not bought yet, I'd like to see something that looks like a bottom down here.

IT


Firstly, i don't trade on e-wave. Daily is still on a buy and so the e-wave has not yet confirmed a turn.

As for trading, my hourly is on a sell. So i will short the bounce.


I only asked about elliot wave because I thought you were conducting an experiment with it. Maybe the experiment is over? Either way, elliot as I understand it stands on its own, rather than as a confirmation device for your indicators, right?

IT

#32 pedro

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Posted 23 February 2011 - 09:47 AM

I'm with Darris and Spooky as well. My weeklies are still on buy (one foot out the door, the other firmly in). Dailies and hourlies are on sell. Hourly NEARING a buy, but I think imminent setup fails here (1317) soon. I expect the tradable bounce off the 50dma in the 129x range. We should test the recent highs if not break them. I'm agnostic on which. Flat here, looking for small longs on my hourly signal. No hurry.

#33 gannman

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Posted 23 February 2011 - 10:15 AM

i started picking up faz in november and i am averaged in around 10. in the process of buying more fwiw. i think the financials are the most vulnerable fwiw g
feeling mellow with the yellow metal


#34 NAV

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Posted 23 February 2011 - 10:57 AM

There were postings over the last couple of weeks by many, on the obvious "The trend is up", when we were trading close to the top tick. So what's the read on the trendo-meter now?

Is it still up ? If so, would you buy the dip here ? If not here, where would you ?

Is it down ? If so, are you already short ? If not, where would you short ? Or if you are a one sided bull-only trader, would you go to cash ?

If you dynamically need to determine a entry point for long or short, would you let us know in real-time ?

Or if you belong to the group, which says "I have no clue", then the honesty is appreciated !.

My hourly is on a sell, but the daily missed the sell by a few ticks. I will update here, if my daily goes to a sell.


Let's see how many will stick their necks out and answer a honest trading question.



What does elliot wave say? Is it all over now?

Since your hourly has now gone to a sell, what do you do now? Sell on a rally? Wait for the daily to go to a sell, and then wait for a rally?

As for me, I think the trend is still up regarding the daily. However, I have not bought yet, I'd like to see something that looks like a bottom down here.

IT


Firstly, i don't trade on e-wave. Daily is still on a buy and so the e-wave has not yet confirmed a turn.

As for trading, my hourly is on a sell. So i will short the bounce.


I only asked about elliot wave because I thought you were conducting an experiment with it. Maybe the experiment is over? Either way, elliot as I understand it stands on its own, rather than as a confirmation device for your indicators, right?

IT



That's correct. It's just an experiment. Got nothing to do with my trading.

"It's not the knowing that is difficult, but the doing"

 

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#35 vitaminm

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Posted 23 February 2011 - 11:11 AM

3sma<6sma............daily sell?

http://barchart.com/...p;txtDate=#jump

3sma>6sma..weekly S@1308.98 cross over point

One may look this chart in all time frame and select the trading range!
vitaminm

#36 viccarter

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Posted 23 February 2011 - 11:22 AM

want to note: in a 10% down move that happens rapidly, nothing works in terms of TA -- except holding short. I do not believe that indicators can predict a 10% down move. They can tell you that it is probable that it WILL COME, but shorter term charts cannot adequately time the beginning of it. Nor can typical patterns.

I realize the levels we have in terms of BB on the VIX or RVX, and that usually means some type of move higher -- except when it doesn't and the volatility moves higher. Only time will tell which type this is -- but we shall know soon enough.




have you tried pitchforks and parallel channels??? :D



I am familiar with channels. I usually do not take trades based off of them. I have just begun to get confident swing trading based on short term breadth & volatility in the way I've been looking at it. Perhaps on day in the future, after I have studied this more.

#37 hitoya

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Posted 23 February 2011 - 11:57 AM

Have mentioned about buying XLE and OIH for a long time. XLE dropped less than 1% yesterday and hit a new high today. OIH dropped less than 2% yesterday, get most of them back today. Expect up another 20% in 3 months. Holding :)

#38 vitaminm

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Posted 23 February 2011 - 12:25 PM

did hit 1302............next projects 1289


spx.projects...1302

partially oversold......may bounce to 1318........1324+...........S@1312

es...up


vitaminm