14 replies to this topic

[Mr Dev]

as i posted on Marks thread 'funny wedge' the FED will be pumping back to back days next week (wed/thur) which should be supportive of equity prices and probably gold. i understand opinionated, ... its a thought i've had for some time .

[Mr Dev]

took a profitable trade off in gold again today ... did not end up shorting it but leaving the door open on the next pop. tomorrow with the RUT sitting at support and the FEDs standing by with 2.25 Billion i actually have a rare cash position to short any pop or... close higher. i basically held most of the RUT shorts ...fully expecting a pop .. but im more interested in holding than trading to see what next Tuesday will bring. it also gives me another look at what the MoMo is doing tonight. earlier it had been a lil overextended by oscillator readings ..and needed to work that off ..over the last few days. trade well my friends.

Edited by Mr Dev, 16 July 2014 - 03:03 PM.

[opinionated]

Dev Work that off? Meaning sideways to up until they reach normal levels setting up for the next decline? Thanks

[Mr Dev]

the MoMo's oscillator had reached an oversold level.. regardless of where the MoMo is sitting.. and that oscillator has moved up from a OS level and bounced to come up closer to the zero line.
aka.. a back kiss on the oscillator.

Edited by Mr Dev, 16 July 2014 - 04:23 PM.

[Mr Dev]

for the Momentum traders. ..

RUT TREND SIGNALS DELIVERED !

as i said above SIGNAL 1 either way Long or Short....leads to Signal 2 and Signal 3.

i like taking SIGNAL 1.. but i always welcome those today taking signal 2 and 3 although its about 10 days later.

that said i exited the short RUT trade to short the EEM this morning which..thankfully is outperforming the RUT to the downside today.

the EEM can get very tricky to trade so i may take my extra gains and come back to the sooner rather than later.

although im NOT a full time bear... congrats to those that are trading this one to the downside.

Edited by Mr Dev, 17 July 2014 - 12:37 PM.