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Any brave sword catchers here....


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#21 zoropb

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Posted 12 April 2011 - 11:07 AM

I posted on my blog this morning around 7:30 we are likely to see 1300.50-1305.50 es and we did but I think we need another low around 1301-4.

Edited by zoropb, 12 April 2011 - 11:10 AM.

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#22 arbman

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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 pdx5

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Posted 12 April 2011 - 12:52 PM

Adding 10% to longs at end of day today. The selling should be over tomorrow...I hope :o If you need cash to pay tax bills better sell today since tax dead line is 18th on Monday. And there must be a boat load of capital gains out there with SPX gains of last 2 years. I know I have a canoe load but only in tax deferred accounts hehe :D

Edited by pdx5, 12 April 2011 - 12:56 PM.

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#24 OEXCHAOS

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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.
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#25 SemiBizz

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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.


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#26 OEXCHAOS

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Posted 12 April 2011 - 03:07 PM

And I am gone with a lunch-money profit. :)
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#27 fib_1618

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Posted 12 April 2011 - 04:00 PM

Hi Fib, how do you usually define a trend on the daily

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.

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.

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#28 pdx5

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Posted 12 April 2011 - 04:16 PM

Hi Fib, how do you usually define a trend on the daily

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.

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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#29 thespookyone

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Posted 12 April 2011 - 05:39 PM

Caught JPM, TSL, and a bit more NFLX on todays bottoms. I'm thinking trend is still up.

#30 CLK

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Posted 12 April 2011 - 05:45 PM

Daily trend is still up until Dow 12,200 is exceeded on a closing basis.