Edited by zoropb, 12 April 2011 - 11:10 AM.
Any brave sword catchers here....
#21
Posted 12 April 2011 - 11:07 AM
Love, be kind to one another, seek the truth, walk the narrow path between the ying and the yang.
#22
Posted 12 April 2011 - 11:45 AM
Arb,
I don't disagree. But i am holding this one for larger gains. So i will have to take some heat. Last time i tried to get cute on 3/9 and missed the big decline. That hurts.
Remember I also covered just before the decline as well --although trading long the gap downs proved more profitable, anyhow I just think the bigger picture is still to the upside, in the sense we will have one more higher high or really close to the recent highs. This will be probably a yo-yo for a while.
#23
Posted 12 April 2011 - 12:52 PM
Edited by pdx5, 12 April 2011 - 12:56 PM.
#24
Posted 12 April 2011 - 01:44 PM
who still think the trend is up ?
Took 11 points profit on 1/3 position. Will hold the rest 2/3 for bigger gains.
My stuff, as of last night, says we're in an up trend. I bought support today.
I must say, however, things are weaker than I'd expect in a strong market.
Mark S Young
Wall Street Sentiment
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#25
Posted 12 April 2011 - 02:20 PM
who still think the trend is up ?
Took 11 points profit on 1/3 position. Will hold the rest 2/3 for bigger gains.
My stuff, as of last night, says we're in an up trend. I bought support today.
I must say, however, things are weaker than I'd expect in a strong market.
Here, maybe this will help...
What's going on today... is we had the Nasdaq fall back under the .618R at 2749.97.
The SPX couldn't get the job done by getting UNDER 1307.77
We are out of harmony here.
One of them is RIGHT.
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
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#26
Posted 12 April 2011 - 03:07 PM
Mark S Young
Wall Street Sentiment
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#27
Posted 12 April 2011 - 04:00 PM
Since breadth of market leads price, trends are primarily defined by the direction of money flow as represented by the advance/decline line, and then by price itself. The beauty of this rather simplistic methodology is that it works in all time frames and separates corrective activity from that of actual trending activity.Hi Fib, how do you usually define a trend on the daily
As it would be applied to the daily time frame, and under the umbrella of an advancing price structure, a change in trend would include the A/D line topping out and taking prices initially lower with it, a rally (reflex or otherwise) would then ensue where the A/D line was not able to make a new high, while at the same time, prices moved to higher highs without the benefit of the capital needed to support these same highs (bear divergence), and then the TREND to the downside would be confirmed once the A/D line moved to lower lows. In other words, the prevailing trend continues until "proven otherwise" - from where a simple top beneath a top in the A/D line would be all that would be needed to provide this same proof. Without this same A/D line divergence, any top beneath a top in a price structure itself would be that of corrective activity and not the beginning of a change in trend.
Fib
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#28
Posted 12 April 2011 - 04:16 PM
Since breadth of market leads price, trends are primarily defined by the direction of money flow as represented by the advance/decline line, and then by price itself. The beauty of this rather simplistic methodology is that it works in all time frames and separates corrective activity from that of actual trending activity.Hi Fib, how do you usually define a trend on the daily
As it would be applied to the daily time frame, and under the umbrella of an advancing price structure, a change in trend would include the A/D line topping out and taking prices initially lower with it, a rally (reflex or otherwise) would then ensue where the A/D line was not able to make a new high, while at the same time, prices moved to higher highs without the benefit of the capital needed to support these same highs (bear divergence), and then the TREND to the downside would be confirmed once the A/D line moved to lower lows. In other words, the prevailing trend continues until "proven otherwise" - from where a simple top beneath a top in the A/D line would be all that would be needed to provide this same proof. Without this same A/D line divergence, any top beneath a top in a price structure itself would be that of corrective activity and not the beginning of a change in trend.
Fib
Always enjoy reading your posts...keep them coming!
#29
Posted 12 April 2011 - 05:39 PM
#30
Posted 12 April 2011 - 05:45 PM