29 replies to this topic

[zoropb]

No McClellan divergence, no bottom, it's as simple as that.

Small technical bounce and continued sideways chop chop is all the bulls can hope from here.

Writing on the wall now bln. We are going higher next week. I was flat last night with about 5 days of my mid scores diverging. I was not going to sleep short even though I thought we would go lower there were odds for a bounce too if we took out 1172. ST today enjoy the drop but I am covering from 80's later today.

[CLK]

thanks but we all can have a great season...my point is

we are not a bunch of newbies here on a free chat board ... and thus we should respect the stage we allowed to be posting on !

that means imho posting market analysis here should be more Careful,...Objective,....Thorough,,....and Comprehensive .... seems like it's become a little laxed

Your not posting your system, nice calls though.

And I fully agree, many here need to quit the emotional guessing game and
exotic TA and start nailing some weekly swings, I don't care too much about the daily only
for fine tuning my next weekly, because with my account size, a couple bad trades on the daily and I'm
almost busted, and a couple bad dailies can happen.

Btw, I've been calling for a weekly reversal now for about a week.

Edited by CLK, 10 June 2010 - 10:07 AM.

[NAV]

Mr Dev, Most posts i read on TT fall into the category of thinking loud. What really matters to trade is the final outcome of the that analysis/thinking. I rarely see posts which ends with a conclusion saying "My read of the charts is bullish, i am going long" or "My read of charts is bearish. I am shorting". Instead it looks like a algorithm written by a computer engineer. If then, this, else that, but then, if not, then something else, blah blah blah. Trading IMO is not about what the market is going to do today, tomorrow or a month or year from now. It's recognizing that point of transition in the chart from "bullish to bearish" and "bearish to bullish". If one has the skills to recognize that transition with conviction , then i don't see any reason in making hedged comments or two sided arguments. To that extent i agree with your comment about raising one's standard to make bold unhedged directional calls (on a given timeframe that one trades). I think you have been in the zone for a while. So you deserve some bragging rights. But not necessarily bashing rights

Edited by NAV, 10 June 2010 - 10:16 AM.

[maineman]

A truly annoying thread. Why post? To brag? To share? To waste your time? If you are willing to share your trading ideas and back them up, great. But to yell at total strangers for what you percieve to be "not following your advice"; well, what's with that? The point of the dismissive and derisive attitude completely escapes me. My bad for wasting my time reading and replying to this thread. mm

[goldswinger]

My hats off to you Mr. DEV!! Great call one more time. To improve my game I need to get out of my VST turn and stick to solid VST turns as last Monday was, I ignored that on Monday and it is costing me. However, I am not a flip flopper , this is a squeeze type rally and the resolution will still be down. And that is why I held my position. I was looking at my ST charts this morning (not VST)and I said If I had gone long on Monday , I would have still gotten out late yesterday. This morning move particularly was a very tough call with risks on both ends going short or long at the close yesterday. I am sure that is why you lightened up on some of your longs and that was a healthy money management move. This is a typical intervention move as everyting was about to turn and out of nowhere you get this lipstick on the pig. Once again , great call!! but relax a bit, there s still a lot of good traders on this board. You are just on the zone and try and stay there. Been there before myself and suddenly things didn't work as well anymore as you might get a sense of invincibility. GS.

[Tor]

Good work DEV. Lets try and tone it down a bit. When are you going tp publish the newsletter? Trade 10 times as safe

[arbman]

Dev Congrats, the market will climax some other time from here, good game...

[Mr Dev]

Thanks guys...
for some that think im acting like drill sgt... please view it as tough love.. my real hope is many more traders and newbies here can raise their game..

and NAV

Mr Dev,

Most posts i read on TT fall into the category of thinking loud. What really matters to trade is the final outcome of the that analysis/thinking. I rarely see posts which ends with a conclusion saying "My read of the charts is bullish, i am going long" or "My read of charts is bearish. I am shorting". Instead it looks like a algorithm written by a computer engineer. If then, this, else that, but then, if not, then something else, blah blah blah. Trading IMO is not about what the market is going to do today, tomorrow or a month or year from now. It's recognizing that point of transition in the chart from "bullish to bearish" and "bearish to bullish". If one has the skills to recognize that transition with conviction , then i don't see any reason in making hedged comments or two sided arguments. To that extent i agree with your comment about raising one's standard to make bold unhedged directional calls (on a given timeframe that one trades).
I think you have been in the zone for a while. So you deserve some bragging rights. But not necessarily bashing rights

Ah your words are Sweet Music to my ears... you had me at .....Thinking loud

Edited by Mr Dev, 10 June 2010 - 01:23 PM.

[Mr Dev]

My hats off to you Mr. DEV!! Great call one more time. To improve my game I need to get out of my VST turn and stick to solid VST turns as last Monday was, I ignored that on Monday and it is costing me. However, I am not a flip flopper , this is a squeeze type rally and the resolution will still be down. And that is why I held my position.

I was looking at my ST charts this morning (not VST)and I said If I had gone long on Monday , I would have still gotten out late yesterday. This morning move particularly was a very tough call with risks on both ends going short or long at the close yesterday. I am sure that is why you lightened up on some of your longs and that was a healthy money management move.

This is a typical intervention move as everyting was about to turn and out of nowhere you get this lipstick on the pig.

Once again , great call!! but relax a bit, there s still a lot of good traders on this board. You are just on the zone and try and stay there. Been there before myself and suddenly things didn't work as well anymore as you might get a sense of invincibility.
GS.

Hi gs, thanks for sharing..
i would hope you could of held half of a long trade one more open...for me I had 3 choices based on the charts that said we probably had a give back day and now go higher..
they were :
aggressive ..like i usually play = 100% hold
safe........................................= - 25% exposure
extra cautious........................ = -50% exposure
So for my plan,... I played with maximum caution..,and even held to a plan to buy back in quickly...

That's all history now .........Now we play on ,,,,,and see what happens and play through accordingly ...

Edited by Mr Dev, 10 June 2010 - 01:54 PM.

[InvestingFreak]

Mr Dev, I havent been around as a member for long but your insights are great. You probably know it already and might have tried it but a break from the board AND trading for a week is the best thing since ?sliced bread? HAHA I did it recently and its amazing how hard it is to stay away from things. pure addiction Best of luck!