Edited by ogm, 27 July 2012 - 11:31 AM.
long Dow futres (YM) 12940
Started by
ogm
, Jul 27 2012 11:26 AM
9 replies to this topic
#1
ogm
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Posted 27 July 2012 - 11:26 AM
Ok, market starting to look super bullish.
I'm going with the safest bet here.
Treasuries are dumping, and YMs broke the highs of the previous few weeks.
We had a consolidation from hell over the past few weeks, and once the market moves out of it, it should be a strong move.
Who knows, maybe the darn Fed is going to do something next week. Maybe not, but this market had so many opportunities to break down and didn't. And confused the living crap out of everyone in the process.
I'm buying what looks the most bullish to me ( new highs ) Plus if it is the end of the bull market, then large caps should outperform.
#2
ogm
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Posted 27 July 2012 - 11:32 AM
All that, and "Dow closes above 13,000" makes a nice weekend headline.
#4
risk_management
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Posted 27 July 2012 - 12:29 PM
Good instincts Sir.
#5
ogm
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Posted 27 July 2012 - 12:35 PM
Good instincts Sir.
TY.
Wish I followed through on that Russell inverse head and shoulder. I was so tempted, but the internals first half hour looked weak. And then it ran away..lol.
#6
ogm
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Posted 27 July 2012 - 12:43 PM
Screw next week, 120 points already. Bundesbank in talks with ECB, apparently. No idea about what, but they are jamming never the less. Euro not reacting that much.
Taking half off.
#7
risk_management
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Posted 27 July 2012 - 12:47 PM
RE:Euro not reacting that much.
Neither are vxx and vix.
#8
ogm
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Posted 27 July 2012 - 12:53 PM
euro weakening now a little. Market overbought. Not going to short it. Keeping long a little. Dow must close above 13,000
#9
ogm
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Posted 27 July 2012 - 01:19 PM
Interesting that Euro is almost red now after losing almost a full cent of gains. And the market didn't react. Trapped shorts still covering ? or something more ?
#10
ogm
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Posted 27 July 2012 - 03:20 PM
Sold the rest on close. Not as good as expected.
Besides this may be a completely fake breakout. I'm still having difficulty figuring out whats fake whats real in this market. And profit is profit. Short term very overbought. Gotta see what a pullback looks like.
Edited by ogm, 27 July 2012 - 03:21 PM.
