Stopped out on the rest 50% for breakeven. I will take a decision on whether to go long or not afer the first hour candle.
SPX
Started by
NAV
, Sep 01 2010 08:47 AM
5 replies to this topic
#2
NAV
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Posted 01 September 2010 - 09:14 AM
Shock-and-awe campaign might be over. Dammit, they are so predictable 
30-min is fully overbought now. So there's no point going long here. Even if i would like to, i can't afford the wide stop. So it's a relaxing day for me.
30-min is fully overbought now. So there's no point going long here. Even if i would like to, i can't afford the wide stop. So it's a relaxing day for me.
#3
diogenes227
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Posted 01 September 2010 - 09:26 AM
They are so predictable.
SWING WAVES BIG MAC ATTACK
Note the chart above. NYMO has a small low above a low in it in coming from oversold territory. RVX has clicked down CCI on TNA is coming out of oversold.
For the aggressive trader this is a long, a bounce at least and maybe the start of much, much more (which I, for one, am respecting).
NYSI, however, remains on a sell. It lags but it may also be warning there is more downside to come.
Regardless of longs or shorts, this is a time for tight stops.
NYMO has another low above a low (see chart above when Stockcharts updates). The bears better rage and rip this apart soon or they will be face-to-face with the ol' tranquilizer gun.
NYSI remains on a sell.
In a typical bull market pullback the NYSI likes to go down three to five weeks. We just finished the third week. Question is with that death cross on many indexes staring everyone in the face are we even in a bull market anymore? Does it bother anyone at the moment that everyone in the world can see the fifty moving averages crossing the two hundreds?
"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."
#4
NAV
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Posted 01 September 2010 - 09:36 AM
diogenes,
Yes i wrote about the possibility of a shock and awe style move yesterday. But unfortunately i am not a agreesive trader. I trade only on confirmations. So my only option here is to wait for for a pullback in these instances or short , if i get a sell signal.
#5
andiron
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Posted 01 September 2010 - 09:42 AM
the major move happened in 3 minutes..geriatrics need not bother
#6
Darris
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Posted 01 September 2010 - 10:37 AM
Right now, intraday, the MCO for the NYSE is above zero around 11 or so, so turning the summation up. Overall, still forming higher lows off the recent May 2010 lows, and July prices gave the positive divergent MCO low.
