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Multiple buys

Started by orange , Aug 01 2011 10:25 AM

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22 replies to this topic

#1 orange

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Posted 01 August 2011 - 10:25 AM

I have multiple buys on multiple systems if all indicators close at their current location and the SPX closes above 1280 and the VIX closes down from the previous close.

If congress passes the debt bill, we should see a 2% rally that sticks for at least a day. I've scalped the whole day, but am now taking up some intermediate longs at 1282SPX, and would expect a possible draw down of up to 0.6%.

The upside is the favored direction from here.

Posted Image

Edited by orange, 01 August 2011 - 10:33 AM.

"When your position is underwater, average down" - Professional Trader

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#2 IndexTrader

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Posted 01 August 2011 - 10:26 AM

Where's your stop? IT

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#3 jjc

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Posted 01 August 2011 - 10:29 AM

Where's your stop?

IT

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#4 orange

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Posted 01 August 2011 - 10:30 AM

Where's your stop?

IT

On the 3 systems, two have time stops and the other has a loss stop of -1.08%.

I have a time stop of 1 week, with no designated loss stop yet :huh:

Congress not passing a bill today is also a stop. (I would likely close half my positions and hold the rest on a time stop)

*I won't be posting the rest of the day

Edited by orange, 01 August 2011 - 10:31 AM.

"When your position is underwater, average down" - Professional Trader

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#5 orange

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Posted 01 August 2011 - 10:35 AM

I am a bit bothered though that moving averages are moving down still on some time frames...

"When your position is underwater, average down" - Professional Trader

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#6 Pricewatcher

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Posted 01 August 2011 - 10:44 AM

I have multiple buys on multiple systems if all indicators close at their current location and the SPX closes above 1280 and the VIX closes down from the previous close.

If congress passes the debt bill, we should see a 2% rally that sticks for at least a day. I've scalped the whole day, but am now taking up some intermediate longs at 1282SPX, and would expect a possible draw down of up to 0.6%.

The upside is the favored direction from here.

Hi Orange,

Good luck with your trades. I am out again after a short gain on my long from Friday and currently flat.

I think you have a duplicate indicator on your chart. The NYMO is the same as the MACD(19,39) of the NYAD. You just get the classical view of it with the MACD. Do you view the two indicators differently?

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#7 arbman

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Posted 01 August 2011 - 10:45 AM

I think this market will bottom around the new lows... It is very deceptive actually... For the day, the price is accelerating down and every other indicator is catching up later, but they do catch up, instead of the internals reversing the prices... Maybe this time it is different and the prices will turn, there are some divergences in the prices as well now...

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#8 arbman

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Posted 01 August 2011 - 11:27 AM

Intraday cumulative tick is divergent, everything else is oversold, but the sentiment is not really extreme. If this manages to sell further down, we may be looking for a 30-40 points plunge tomorrow or perhaps even today. It is too stretched.

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#9 entre

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Posted 01 August 2011 - 11:29 AM

QE2 is over. Buying before the Fed comes out with QE3 takes a lot of guts. Moodys and the dollar make QE3 more difficult.

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#10 arbman

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Posted 01 August 2011 - 11:45 AM

QE2 is over. Buying before the Fed comes out with QE3 takes a lot of guts. Moodys and the dollar make QE3 more difficult.

yep let's crash, the stock market at 1300+ never made sense anyway...

There is absolutely no upside catalyst left, you would've hoped though that the market would've priced this in, but as it stands, the market only priced the upside...

We should see a bounce here, but that's about it.

Edited by arbman, 01 August 2011 - 11:48 AM.

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