Pleasantly surprised, but surprised nonetheless...

I am 100% short going into trading this morning (via SPXU and TNA)....but I am a little surprised of the weakness in Globex ES trading. Never in a million years would I have thought that a magnificent, upset win like last night's Senate race would NOT cause a nice rally in equities.... I guess two reasons why they're not rallying: 1) the win was already built into yesterday's rally 2) Jim Cramer anticipated a victory rally (in the event Brown won)..... nuff said there, he's the ultimate contrary indicator. It's still early and lots can happen.... overall big picture I am playing the cycles into March which spell a correction.

Edited by cycletimer, 20 January 2010 - 07:17 AM.

look for the chinese central banker and not pump & dump helicopter bernanke here..He will be the one will tighten the noose on the printing press...

In general day to day news is useless in technical trading. Its a distraction. Second, as bizarre as Jim Cramer is (I never watch TV or financial news) I did see that he was among the the top 10 in Timer Digest.... fwiw. BTW, I don't think the top is in yet.... mm

In general day to day news is useless in technical trading. Its a distraction.
Second, as bizarre as Jim Cramer is (I never watch TV or financial news) I did see that he was among the the top 10 in Timer Digest.... fwiw.
BTW, I don't think the top is in yet....

mm

maineman, I love your blog and appreciate you sharing your advice, I agree we going higher how high don't know..but i have given up trading futures and will stick with etf's..I look forward to reading ur blog daily...cheers

In general day to day news is useless in technical trading. Its a distraction.
Second, as bizarre as Jim Cramer is (I never watch TV or financial news) I did see that he was among the the top 10 in Timer Digest.... fwiw.
BTW, I don't think the top is in yet....

mm

maineman, I love your blog and appreciate you sharing your advice, I agree we going higher how high don't know..but i have given up trading futures and will stick with etf's..I look forward to reading ur blog daily...cheers

Z,
What about my blog? You can have all the $ in the world, but without your health you have NOTHING!

In general day to day news is useless in technical trading. Its a distraction.
Second, as bizarre as Jim Cramer is (I never watch TV or financial news) I did see that he was among the the top 10 in Timer Digest.... fwiw.
BTW, I don't think the top is in yet....

mm

maineman, I love your blog and appreciate you sharing your advice, I agree we going higher how high don't know..but i have given up trading futures and will stick with etf's..I look forward to reading ur blog daily...cheers

TOOK THE TZA OFF! THE SHARES PURCHASED YESTERDAY FOR 8.68 .... SOLD THIS MORNING FOR 9.08 ....... STILL HOLDING SPXU ..... MAY TAKE SOME OFF AROUND 34.20 - 34.25 AREA....

Edited by cycletimer, 20 January 2010 - 10:10 AM.

In general day to day news is useless in technical trading. Its a distraction.
Second, as bizarre as Jim Cramer is (I never watch TV or financial news) I did see that he was among the the top 10 in Timer Digest.... fwiw.
BTW, I don't think the top is in yet....

mm

maineman, I love your blog and appreciate you sharing your advice, I agree we going higher how high don't know..but i have given up trading futures and will stick with etf's..I look forward to reading ur blog daily...cheers

TOOK THE TZA OFF! THE SHARES PURCHASED YESTERDAY FOR 8.68 .... SOLD THIS MORNING FOR 9.08 ....... STILL HOLDING SPXU ..... MAY TAKE SOME OFF AROUND 34.20 - 34.25 AREA....

FLAT.....at SPXU 34.46 ...... will wait for a bounce (hopefully back to 1150) to establish some "core" positions in 2x inverse ETF's like MZZ, DDM, and QID