MARKET THOUGHT & RUT TRADE

Update to July 13th pm Market Thoughts & Rut Trade which can be viewed at the link after our big market up day.

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trading experience says two things here and that is today is a bad day to try and get long or cover and one should try and cover the following day.

so i'm going overnight again with all the world markets poised to rally into tomorrow morning off this upswing today, remember i don't like to get long near highs....even though i may be early to the short side,...and i don't like getting short near lows

the rut should see a .5-1.0% pullback and if we get it early as i said earlier today ,,,, i'm in management mode i'll exit then and go partially long until the momo looks to enter then exit that....

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i was very tempted to exit here this morning with the pullback extending from yesterday, however i'm getting a daily sell signal although technically a bit high into bullish territory so i

will give that chance lol ...to both develop or deteriorate into the close. i guess there is still a chance i can in fact dodge a bullet here as i do suspect that if this is a short term low

it will be more complex than anyone thought back on July 1st or 2nd if in deed you were able to see the rally developing, which i know some of you were good enough to do.

so trade safe

Edited by Mr Dev, 15 July 2010 - 09:47 AM.

Update to July 13th pm Market Thoughts & Rut Trade which can be viewed at the link after our big market up day.

********

trading experience says two things here and that is today is a bad day to try and get long or cover and one should try and cover the following day.

so i'm going overnight again with all the world markets poised to rally into tomorrow morning off this upswing today, remember i don't like to get long near highs....even though i may be early to the short side,...and i don't like getting short near lows

the rut should see a .5-1.0% pullback and if we get it early as i said earlier today ,,,, i'm in management mode i'll exit then and go partially long until the momo looks to enter then exit that....

**************

i was very tempted to exit here this morning with the pullback extending from yesterday, however i'm getting a daily sell signal although technically a bit high into bullish territory so i

will give that chance lol ...to both develop or deteriorate into the close. i guess there is still a chance i can in fact dodge a bullet here as i do suspect that if this is a short term low

it will be more complex than anyone thought back on July 1st or 2nd if in deed you were able to see the rally developing, which i know some of you were good enough to do.

so trade safe

That rally developing was obvious.... the topping and whether this is a continuation of a LT down trend or an it up trend which going to be over by now is the more complicated less obvious trade.

A lot of nervous shorts covering just now...IMO down move just getting started...

I was thinking about sp 108 gap yesterday. It was almost filled today. We will see what happen next.

A lot of nervous shorts covering just now...IMO down move just getting started...

Mikey I got nervous i pulled the plug for 8 points of gain.

Come on Porsche...Get real You are just full of it today....profits that is! Great after the fact trading.

A lot of nervous shorts covering just now...IMO down move just getting started...

Mikey I got nervous i pulled the plug for 8 points of gain.

Nothing wrong with perserving capital, Philly Fed put us over the top...

Over the past few days, I could have taken many small profits but stayed in...

This is something I am struggling with, when to stay in for bigger moves or take profit...

Now my stuff is pretty clear that we are going lower, so I'll stay in, but I don't think it was the most conservative approach...

A lot of nervous shorts covering just now...IMO down move just getting started...

Mikey I got nervous i pulled the plug for 8 points of gain.

Nothing wrong with perserving capital, Philly Fed put us over the top...

Over the past few days, I could have taken many small profits but stayed in...

This is something I am struggling with, when to stay in for bigger moves or take profit...

Now my stuff is pretty clear that we are going lower, so I'll stay in, but I don't think it was the most conservative approach...

Come to think i was silly enought to have pulled the plug before that philly fed annoucement... I stated 15 points in post but i back tracked... i knew it could be done but just did not have the guts to do it.

And i was waiting to see if this is a down trend or we are still in an unfinished correction off the lows that will lead to new lows. I know its head down of course but it when the rebound is done and when it tops out... like the euro we had new highs again i dont know when the euro will top out so we get short on euro as well. thankfully i am not short on euro.

Porsche....You're the man! One moment you say that you'll not short until next week and thinkin that fri will be SPX 1120 area. And don't you know it man now you're short and makin the great scalp trades. Yersterday you bought the lows and sold Spx 1096....Great tradin Man. Oh...And keep reminded US about your SPX 1006 trade and sold at 1039.....and chide everybody else. Porsche....ARE YOUR TRADES RAELLLLLY REALLLLL???

A lot of nervous shorts covering just now...IMO down move just getting started...

Mikey I got nervous i pulled the plug for 8 points of gain.

Nothing wrong with perserving capital, Philly Fed put us over the top...

Over the past few days, I could have taken many small profits but stayed in...

This is something I am struggling with, when to stay in for bigger moves or take profit...

Now my stuff is pretty clear that we are going lower, so I'll stay in, but I don't think it was the most conservative approach...

Come to think i was silly enought to have pulled the plug before that philly fed annoucement... I stated 15 points in post but i back tracked... i knew it could be done but just did not have the guts to do it.

And i was waiting to see if this is a down trend or we are still in an unfinished correction off the lows that will lead to new lows. I know its head down of course but it when the rebound is done and when it tops out... like the euro we had new highs again i dont know when the euro will top out so we get short on euro as well. thankfully i am not short on euro.

I was short euro/yen, woke up to nightmare and started shorting Aussie/yen as posted my sell signal last night in the Aussie...

Still holding Aussie short as I think this is the beginning of the move down...

Account has been basically flat for the past week and half ...