MARKET THOUGHTS & RUT TRADE

market action is certainly lending itself to a more complex bottom. if you go back about three posts on my topics, see that i'm looking for 611-617 as a nice area for the next pull back.

with a recent daily sell signal given off this still has a good chance to meet the zone, however i do want to express some extra caution as we're still close to the extreme area of positive volatility on the momo indicator.

with it so close to going super bullish i thought we might see a continuation for the up move into some sort of final top before we saw this pullback. i'm pleased this is not the case yet.

as i mentioned the July 1st bottom was going to be more complexed,.. i now also see the last high as possibly extending and becoming more complex,..which is a good mental place to trade from imho.

i'm just happy i was able to see the pop at the time of this July 13th post
for what it was, not a good place to get long.

for the RUT short position taken at 618ish, 620 and 625 it is still on. it may have been early and not the best entries but with some focus i should be able to catch the pullback long enough to make up for that until a more tradable zone presents itself for another bounce.

have a nice trader style weekend.
trade safe

market action is certainly lending itself to a more complex bottom. if you go back about three posts on my topics, see that i'm looking for 611-617 as a nice area for the next pull back.

with a recent daily sell signal given off this still has a good chance to meet the zone, however i do want to express some extra caution as we're still close to the extreme area of positive volatility on the momo indicator.

with it so close to going super bullish i thought we might see a continuation for the up move into some sort of final top before we saw this pullback. i'm pleased this is not the case yet.

as i mentioned the July 1st bottom was going to be more complexed,.. i now also see the last high as possibly extending and becoming more complex,..which is a good mental place to trade from imho.

i'm just happy i was able to see the pop at the time of this July 13th post
for what it was, not a good place to get long.

for the RUT short position taken at 618ish, 620 and 625 it is still on. it may have been early and not the best entries but with some focus i should be able to catch the pullback long enough to make up for that until a more tradable zone presents itself for another bounce.

have a nice trader style weekend.
trade safe

wondeful calls. although as a reminder the death cross continues to deepen, and today is interesting. now that we broke 1080, i think all bets long would be risky for awhile.

market action is certainly lending itself to a more complex bottom. if you go back about three posts on my topics, see that i'm looking for 611-617 as a nice area for the next pull back.

with a recent daily sell signal given off this still has a good chance to meet the zone, however i do want to express some extra caution as we're still close to the extreme area of positive volatility on the momo indicator.

with it so close to going super bullish i thought we might see a continuation for the up move into some sort of final top before we saw this pullback. i'm pleased this is not the case yet.

as i mentioned the July 1st bottom was going to be more complexed,.. i now also see the last high as possibly extending and becoming more complex,..which is a good mental place to trade from imho.

i'm just happy i was able to see the pop at the time of this July 13th post
for what it was, not a good place to get long.

for the RUT short position taken at 618ish, 620 and 625 it is still on. it may have been early and not the best entries but with some focus i should be able to catch the pullback long enough to make up for that until a more tradable zone presents itself for another bounce.

have a nice trader style weekend.
trade safe

wondeful calls. although as a reminder the death cross continues to deepen, and today is interesting. now that we broke 1080, i think all bets long would be risky for awhile.

If this closes below 1080 today, I'm going at least swing short. The 50/200 has played out it's usual up first. Now it's time for the down big.

Going to try BGZ for the first time.

JMO.

I'm looking closely at the 8-hour/34-hour crosses and 8-day/34-day crosses on the Index moving averages.. If we continue down from here, we will likely have a touch back on the 8-day/34-day from below... This would mean the next sell-off would be large, to take us below the low two weeks ago.... As BDI keeps dropping, we could easily see equities loose 15% - 25% in the next two months upon realization of a flat to shrinking economy. Barry

If it was easy it wouldn't be fun.

The hourly cross down in the SPX:VIX and IWM:VIX makes me think that Mr. Dev might still dodge the Bull-et.