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#1 NAV

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Posted 18 October 2016 - 08:34 AM

They laid a nice trap yesterday for the bears. I think this is what was required to create the necessary thrust to squeeze the shorts and set the stage for a big rally. Bailed out of my shorts for a big loss (-16 points).

 

Now long 1/2 position at 2143. Will add another half on any retracement.


Edited by NAV, 18 October 2016 - 08:35 AM.

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

 

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#2 NAV

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Posted 18 October 2016 - 08:36 AM

I am quite positive that this is the end of the crappy range and overlapping correction. We should begin a nice trending move from here.


Edited by NAV, 18 October 2016 - 08:36 AM.

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

 

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#3 OEXCHAOS

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Posted 18 October 2016 - 08:51 AM

This thing is almost mean spirited.


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#4 alexnewbee

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Posted 18 October 2016 - 09:29 AM

Without stop? Thks.
For the record - I have small long NDX and small short SPX. Will exit long at the end of the month and double short, provided market behaves right.
"we do G.d's work" Lloyd Blankfein

#5 NAV

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Posted 18 October 2016 - 10:34 AM

Without stop? Thks.
For the record - I have small long NDX and small short SPX. Will exit long at the end of the month and double short, provided market behaves right.

 

Actually just scratched off that half position at 2141. 

 

Now i have an order to go long at 2146.1 (Full position) with a stop at  2133.9. If we trade above 2146 today, which i think it will (90% odds), then we are going to see a huge move into the close and will close near the highs a.k.a trending day. 


Edited by NAV, 18 October 2016 - 10:44 AM.

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

 

https://twitter.com/Trader_NAV

 

 


#6 EntropyModel

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Posted 18 October 2016 - 11:06 AM

It never seems to  work out well posting real time trades to FF ...don't know why, I joked because the market God's smite us, in

my case I found it effected my judgement ...mental side of trading is hard for me...I don't need the added distraction. 

Hopefully not the case for you NAV.

 

I never hold overnight except for very long term, because of this kind of gap today....can't count number

 of times I got trapped like this - I hated sleeping waiting to wake up to 'surprises'.

 

HUGE RESPECT  for posting these trades -, and being 100% real time and honest by honoring stops, I really can't think i've seen anyone post disciplined trades like

this since i've been on this board since 2003'ish ...  which says alot, trading is about 10X harder than 'calling' the market, as anyone who actually trades enough over long time knows.

 

Hope this next one works out for you if we >2146.1 .... 


Edited by Entropy2.0, 18 October 2016 - 11:07 AM.

Question everything, especially what you believe you know. The foundation of science is questioning the data, not trusting the data. I only trust fully falsified, non vested interest 'data', which is extremely rare in our world of paid framing narratives 'psy ops'. Market Comments https://markdavidson.substack.com/?utm_source=substack&utm_medium=email https://www.youtube.com/playlist?list=PLznkbTx_dpw_-Y9bBN3QR-tiNSsFsSojB

#7 diogenes227

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Posted 18 October 2016 - 11:20 AM

I am quite positive that this is the end of the crappy range and overlapping correction. We should begin a nice trending move from here.

 

If they closed the market right now, we would have a low above a low on the NYMO, not seen since the last notable bounce (9/19).  SPX closed at 2139 on 9/19, closed at 2177 three days later.

 

yes.gif

 

P.S. The NYSI (at the moment) remains in negative territory so not as yet a good idea to bet the farm.


Edited by diogenes227, 18 October 2016 - 11:22 AM.

"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

 

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."


#8 NAV

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Posted 18 October 2016 - 11:25 AM

It never seems to  work out well posting real time trades to FF ...don't know why, I joked because the market God's smite us, in

my case I found it effected my judgement ...mental side of trading is hard for me...I don't need the added distraction. 

Hopefully not the case for you NAV.

 

 

It's just superstition.

 

I never hold overnight except for very long term, because of this kind of gap today....can't count number

 of times I got trapped like this - I hated sleeping waiting to wake up to 'surprises'.

 

 

I have been caught in these kind of gaps hundred of times over the last 15 years, i have been swing trading. I never sweat about gaps. It's part of swing trading. Usually i get caught in 5-6 point gaps, which are common and normal. But when it gaps big like this (more than .75%) it's painful. My experience is when these kind of gaps occurs, it;s usually when a range expansion occurs. Gotta trust the range expansions. We'll see. the day is still young.


Edited by NAV, 18 October 2016 - 11:28 AM.

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

 

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#9 risk_management

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Posted 18 October 2016 - 11:37 AM

I see low above low on NYMO but I don't see volume oscillator do the same.  This market is limp and impotent IMO.



#10 OEXCHAOS

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Posted 18 October 2016 - 12:41 PM

This morning, we had a Sell, EXCEPT that we closed the hour above the BB's, which waved me off. Next hour we closed at 2130, down 8+. It's like every trading rule is conspiring to keep me out or lose me money! LOL!

 

I should shut up. I'm doing OK, if not by skill, then by good fortune.

 

BTW, generally I'm more Bullish thanks to the SH Buy signal. I don't want to fade that for long, nor without a trailing stop.

 

Mark


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