27 replies to this topic

[NAV]

BTW, is it easy to go long or short here ? The answer would be "Short", cuz one can go short with stop above the swing highs which is 2 points away. Whereas to go long would need a stop below 1131, a 15 point stop and a confidence based on TA that it would hold. So they have effectively weeded out the longs from participation. What looks easy rarely works. Again, very interesting....

Edited by NAV, 14 January 2010 - 02:40 PM.

[dasein]

good point, tho, isnt that also the stairstep technique taking out stops all the way, before the big dump?

[maineman]

BTW, is it easy to go long or short here ? The answer would be "Short", cuz one can go short with stop above the swing highs which is 2 points away. Whereas to go long would need a stop below 1131, a 15 point stop and a confidence based on TA that it would hold. So they have effectively weeded out the longs from participation. What looks easy rarely works. Again, very interesting....

As a "swing trader" you are right. As a scalper I can't help taking those morning swoons long. The time for "putting on a position" was with the summation buy signal in November. Adding "size" now is too risky. Even if I'm right in feeling we've got 20 points left on the upside (SPX) that's pretty risky right now as the volatility increases as we approach the target.

mm

[diogenes227]

Been steadily long TNA, BGU since buy signal early November. Also long DGP, average price around 27.
Sell some TNA on bounces to resistance and buy some back on AM swoons.
Expect higher prices soon, and then a pause.

mm

Just logged on.

Absolutely agree with this. Enjoy your posts a great deal, maineman.

NYSI up. NYMO bouncing. VIX declining. TNA up on the day. Up 2.5 percent on the AM swoon.

So am I long? Duh!

[thespookyone]

I lost 1.25 points against the high, didn't expect easy, ut still feel it was prudent. Risk reward trumps all for me. I'll be glad to go long again with a good entry-like we had at the pivot-obviously it won't get THAT good-but I still need "ggod".

[zoropb]

I lost 1.25 points against the high, didn't expect easy, ut still feel it was prudent. Risk reward trumps all for me. I'll be glad to go long again with a good entry-like we had at the pivot-obviously it won't get THAT good-but I still need "ggod".

Spooky I had 1147.25+- for swing if it fails then 1151ish later Told Iron Cross last night but thought it would come last night not today


Im now at 1145.25 75% love this slow grind to scalp tiny ones work my way higher

Edited by zoropb, 14 January 2010 - 03:31 PM.

[espresso]

2 points stop ahead of Intc? ! I'm working on ndx1815-1830 highs then close 1800 tomorrow! jmff

[espresso]

2 points stop ahead of Intc? !
I'm working on ndx1815-1830 highs then close 1800 tomorrow!
jmff

edit: that was 1915-1930 1900!
Anyway if we keep it inside 1910 is even better!

Edited by espresso, 14 January 2010 - 03:51 PM.

[arbman]

I took strangle positions on Jan 15 options and sold far out strikes (essentially 1 call and 1 put spread trade), I think there is about 12-15 points potential volatility either way, I favor down... The closes have not been strong...

Edited by arbman, 14 January 2010 - 04:05 PM.

[thespookyone]

I like 1151.50 here, Z-wonder why our numbers are so far off?