it is reaching an extreme. My personal position since April 29th was a FLip out of Gold to short the RUT,.. today I think I'll take some 60% off the table at the close, and look for another trade.
MOMO indicator sill negative...although
Started by
Mr Dev
, May 20 2010 11:24 AM
7 replies to this topic
#1
Mr Dev
-
- Traders-Talk User
- 11,528 posts
Member
Posted 20 May 2010 - 11:24 AM
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#2
tommyt
-
- Traders-Talk User
- 5,136 posts
Member
Posted 20 May 2010 - 11:57 AM
it is reaching an extreme. My personal position since April 29th was a FLip out of Gold to short the RUT,.. today I think I'll take some 60% off the table at the close, and look for another trade.
way to go Mr Dev. We should spiral down into tomorrow's open. Why? because SPX options expire on the open tomorrow, extremely important to many.
#3
Will
-
- Traders-Talk User
- 363 posts
Member
Posted 20 May 2010 - 12:12 PM
it is reaching an extreme. My personal position since April 29th was a FLip out of Gold to short the RUT,.. today I think I'll take some 60% off the table at the close, and look for another trade.
way to go Mr Dev. We should spiral down into tomorrow's open. Why? because SPX options expire on the open tomorrow, extremely important to many.
Check out 8/16/07. Thursday during opex week. But that day IIRC, had a good bounce, then a retest at 3:10 pm and then took off after that.
#4
hitoya
-
- Traders-Talk User
- 494 posts
Member
Posted 20 May 2010 - 12:13 PM
it is reaching an extreme. My personal position since April 29th was a FLip out of Gold to short the RUT,.. today I think I'll take some 60% off the table at the close, and look for another trade.
Best call and trade in last 30 days I have seen on this board. Nice job!
#5
Will
-
- Traders-Talk User
- 363 posts
Member
Posted 20 May 2010 - 12:17 PM
Looking at the chart now, it bottomed at 1:05 bounced till 2:20 and retested at 3:10. So an hour of bounce should be enough.
#6
Mr Dev
-
- Traders-Talk User
- 11,528 posts
Member
Posted 20 May 2010 - 12:39 PM
it is reaching an extreme. My personal position since April 29th was a FLip out of Gold to short the RUT,.. today I think I'll take some 60% off the table at the close, and look for another trade.
Best call and trade in last 30 days I have seen on this board. Nice job!
Thanks hitoya,
I need to correct myself, as I checked my account it shows my last trade was on the 28th flipping from the Gold fund to the INV Rut 2x at the close.
Tomorrow's history report will likely show my exit tonight for 60% of that trade,...unless I change my mind and reduce to 30%.
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#7
draggen33
-
- Traders-Talk User
- 1,047 posts
Member
Posted 20 May 2010 - 01:10 PM
I hope you change your mind , I think(yet Im no where as good as you are at this)we are in for a ride going into weekend and may just maybe Black monday!!
As trade surfer brings up , Chow
#8
Mr Dev
-
- Traders-Talk User
- 11,528 posts
Member
Posted 20 May 2010 - 01:39 PM
I hope you change your mind , I think(yet Im no where as good as you are at this)we are in for a ride going into weekend and may just maybe Black monday!!
As trade surfer brings up , Chow
I can agree with you because with the momo indicator where it is ....a "continuation crash" is still very possible !
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
