China

I timed the FXI right near the bottom (123) on 3/17 and failed to take profits yesterday at (132). I was hoping that SSEC would maintain it's LT bull structure and rally hard. But given the very bearish looking SPX chart, i am now convinced that the back of the Shanghai bull will be broken in the coming days. I had a stop at 125 which got taken out for a mere 2 buck profit.

I timed the FXI right near the bottom (123) on 3/17 and failed to take profits yesterday at (132). I was hoping that SSEC would maintain it's LT bull structure and rally hard. But given the very bearish looking SPX chart, i am now convinced that the back of the Shanghai bull will be broken in the coming days. I had a stop at 125 which got taken out for a mere 2 buck profit.

nav its funny you say that because for the last 18 years i have been trading somehting always bad seems to happen on good friday when the mkt is closed

perhaps this year it will be the collapse of china..and on sunday we open down huge!

where are you looking to reshort the es...i am riding your coattails on this one

Well, how about this... there's something technical being worked out on SSEC, and I will give you the number since we bears got to hang together, since we are in the minority... 3430... Write it down. This sure turned out to be Weekie Watchie Wednesday huh???

Edited by SemiBizz, 19 March 2008 - 03:29 PM.

you are stellar at not letting a profit turn into a loss. this is the most important and hardest endeavor of a trader, imho.

I don't see what's so bearish...the dow did not take out the Jan. low, looks like a test of Jan. Start of Big summer rally should follow next week. Thursday is going to be a down day and maybe early next week though.

http://stockcharts.com/c-sc/sc?s=$INDU&p=D&yr=0&mn=3&dy=0&i=p16296515716&r=1316.png

Edited by Russ, 19 March 2008 - 03:38 PM.

I timed the FXI right near the bottom (123) on 3/17 and failed to take profits yesterday at (132). I was hoping that SSEC would maintain it's LT bull structure and rally hard. But given the very bearish looking SPX chart, i am now convinced that the back of the Shanghai bull will be broken in the coming days. I had a stop at 125 which got taken out for a mere 2 buck profit.

nav its funny you say that because for the last 18 years i have been trading somehting always bad seems to happen on good friday when the mkt is closed

perhaps this year it will be the collapse of china..and on sunday we open down huge!

where are you looking to reshort the es...i am riding your coattails on this one

IC,

I was waiting to reshort SPX 1320-22. SPX rallied to 1319 and collapsed and i missed part II of the trade. Now if they gap-down tommorow, i will have to really scramble to get short again. It's not gonna be easy. If they gap-up or rally tommorow morning, it should be an easy short and i will post in real-time here.

Russ-"Check under the hood", look at the internals-THAT'S whats so bearish. I can't begin to thank Fib enough for his generous gift of teaching me the value of internal mechanics, his skills are MASSIVE.

Well, how about this... there's something technical being worked out on SSEC, and I will give you the number since we bears got to hang together, since we are in the minority...

3430... Write it down.

This sure turned out to be Weekie Watchie Wednesday huh???

Semi,

We need to break SSEC 3404 to enter a LT bear from an e-wave perspective. From a momentum perspective, SSEC is already on a LT bear market. If 3430 holds and rallies, that would be very bullish for SSEC. I will be watching that with interest.

I can't begin to thank Fib enough for his generous gift of teaching me the value of internal mechanics, his skills are MASSIVE.

I second that.

I timed the FXI right near the bottom (123) on 3/17 and failed to take profits yesterday at (132). I was hoping that SSEC would maintain it's LT bull structure and rally hard. But given the very bearish looking SPX chart, i am now convinced that the back of the Shanghai bull will be broken in the coming days. I had a stop at 125 which got taken out for a mere 2 buck profit.

nav its funny you say that because for the last 18 years i have been trading somehting always bad seems to happen on good friday when the mkt is closed

perhaps this year it will be the collapse of china..and on sunday we open down huge!

where are you looking to reshort the es...i am riding your coattails on this one

IC,

I was waiting to reshort SPX 1320-22. SPX rallied to 1319 and collapsed and i missed part II of the trade. Now if they gap-down tommorow, i will have to really scramble to get short again. It's not gonna be easy. If they gap-up or rally tommorow morning, it should be an easy short and i will post in real-time here.

cool..