I am thinking if that could happen again. Before a lower low?
Remeber that down trend in May/June
Started by
porsche911sg
, Mar 15 2011 09:53 PM
5 replies to this topic
#1
porsche911sg
-
- Traders-Talk User
- 2,907 posts
Member
Posted 15 March 2011 - 09:53 PM
The market catches almost everyone on the wrong side. We always seem to get fake break out before that huge dump or the hugh dump before the false break down! Trade Safe!
#2
Bob-C
-
- Traders-Talk User
- 5,316 posts
Member
Posted 15 March 2011 - 10:06 PM
I am thinking if that could happen again. Before a lower low?
Yes porsche911sg, IMVHO, it is a deception and the CME Nikkei 225 negative divergence versus the Nikkei 225 index proves it. See my CME Nikkei 225 post below this post for more information and a self-updating CME Nikkei 225 futures chart. IMHO, the Nikkei 225 index is headed much lower in the VST when the current DCAT distribution and short-selling bounce is over.
Cheers,
Bob-C
Disclaimer: None of my posts are meant to be taken as investment advice or trading advice. Do your own due diligence and consult your financial advisor before making any trades or investments.
#3
dcengr
-
- Traders-Talk User
- 13,391 posts
Member
Posted 15 March 2011 - 10:29 PM
More reactor news hitting the tape...
They are now recalling all personnel due to elevated radiation levels.
My guess is Nikkei futures will hit 8600 sometime tonight and if it holds, then the bear flag formation will be a fakeout and it will rally into the close.
But if it is not a fakeout, then it will look to retesting the lows.
Considering how many shorts are piled on Nikkei right now for a retest of lows.. I think many are waiting for the bear flag break to pile on even further.
Qui custodiet ipsos custodes?
#4
dcengr
-
- Traders-Talk User
- 13,391 posts
Member
Posted 15 March 2011 - 10:38 PM
I am thinking if that could happen again. Before a lower low?
How big of a rebound are you thinking?
1306 would fill two gaps. 1320 would fill three, but seems a bit of a stretch to go that high then come down to lower lows.
Qui custodiet ipsos custodes?
#5
porsche911sg
-
- Traders-Talk User
- 2,907 posts
Member
Posted 15 March 2011 - 11:14 PM
I think just a fake out about 1306-1309, than the next wave is down, by then shorts would have been wiped out all longs would pile in.I am thinking if that could happen again. Before a lower low?
How big of a rebound are you thinking?
1306 would fill two gaps. 1320 would fill three, but seems a bit of a stretch to go that high then come down to lower lows.
I think there are just too many shorts on the nikkei... it could re vist the pre crash of 10% i.e 9600 before falling again. But i have no
plans to short nikkei. I just waiting out any point i might dispose all my longs.
The market catches almost everyone on the wrong side. We always seem to get fake break out before that huge dump or the hugh dump before the false break down! Trade Safe!
#6
porsche911sg
-
- Traders-Talk User
- 2,907 posts
Member
Posted 15 March 2011 - 11:16 PM
I think it's best to wait a few more days after a big rebound things than to get higher for a few days before heading back down.I am thinking if that could happen again. Before a lower low?
Yes porsche911sg, IMVHO, it is a deception and the CME Nikkei 225 negative divergence versus the Nikkei 225 index proves it. See my CME Nikkei 225 post below this post for more information and a self-updating CME Nikkei 225 futures chart. IMHO, the Nikkei 225 index is headed much lower in the VST when the current DCAT distribution and short-selling bounce is over.
Cheers,
Bob-C
The market catches almost everyone on the wrong side. We always seem to get fake break out before that huge dump or the hugh dump before the false break down! Trade Safe!
