setup is intact

to answer Tradingup's earlier inquiry , i am still long NDX and SPX as the NDX setup I showed last weekend is holding ...

Also please disregard any ill-intended comment from Cirrus who continuously tries backdoor attacks by casting aspersions on myself...

the current version of the setup is as follows...

A-Ha...I do appologize for my sarcastic remarks. I do question a trader who lets a futures trade go against them to the tune of nearly 60 points at the low today. That's nearly a 5% move for what, according to you, is a very large position. I would wager any trader who's had success in futures would say that's way too wide a stop and not the way to succeed trading futures.

60 min fib time could have finished right there +/- a couple bars. Certainly overlaping through this action, but it would take a launch to correct a couple things. Sooner or later a Leh and another can blowup and no one cares, just another discarded stock, they are getting use to it, as technology and other select issues holding up on a relative basis. On decidedly negative breadth 10:1 down day, dollar weighted volume and adv dec volume made a new low with a higher price close low, is bullish stuff. This is positive price divergence with bad breadth, bullish. Of course we have to observe and respect those technical levels on failure.

A-Ha, like myself, probably made a crapload on the way down. 5% is an acceptable risk compared to gain over time. I too remain long, but have engaged in some guerilla tactics of scalping small position in this volatility.. buying low, selling high for the past few days. I want to thank Spookyone for giving me a heads up on Da Chief's call last night.. which let me dump some of my positions before today's drop.. but I bought some of it back at a lower price.

to answer Tradingup's earlier inquiry , i am still long NDX and SPX as the NDX setup I showed last weekend is holding ...

Also please disregard any ill-intended comment from Cirrus who continuously tries backdoor attacks by casting aspersions on myself...

the current version of the setup is as follows...

Is the strategy the same as last week, i.e. you give yourself one week from the day the market violates the bottom trendline to rise above it again before liquidating?

A-Ha...I do appologize for my sarcastic remarks. I do question a trader who lets a futures trade go against them to the tune of nearly 60 points at the low today. That's nearly a 5% move for what, according to you, is a very large position. I would wager any trader who's had success in futures would say that's way too wide a stop and not the way to succeed trading futures.

60 points?. Serious? Is that even a stop? That's really gotta hurt. I'd hate to get up in the morning to stare down that black hole. I'm not pointing any fingers. I'm more empathetic than anything, but man how can you do that to yourself? Ouch.

A-Ha, like myself, probably made a crapload on the way down. 5% is an acceptable risk compared to gain over time.

I too remain long, but have engaged in some guerilla tactics of scalping small position in this volatility.. buying low, selling high for the past few days.

I want to thank Spookyone for giving me a heads up on Da Chief's call last night.. which let me dump some of my positions before today's drop.. but I bought some of it back at a lower price.

Quite welcome, DC, now six for six-ouch.

A-Ha...I do appologize for my sarcastic remarks. I do question a trader who lets a futures trade go against them to the tune of nearly 60 points at the low today. That's nearly a 5% move for what, according to you, is a very large position. I would wager any trader who's had success in futures would say that's way too wide a stop and not the way to succeed trading futures.

There are different styles, I am aware of one CTA that managed a few million dollars and he would hold draws downs because he was sure that he would be right eventually and he did quite well from what I know. Posturing for a longer term position trade. Unfortunately for Aha next week is likely to see further panicing before the low is seen, which should come on the next Pi cycle , March 23 +/- a day or two.