13 replies to this topic

[Mr Dev]

Well that's close enough for me. Taking on a 2-4 day short positions. Trade well

[89S10]

What else besides filling the NDX gap leads to your decision? It seems arbitrary, but it is obviously better to sell now versus a week ago.

[espresso]

Well that's close enough for me. Taking on a 2-4 day short positions.

Trade well

Gap closed?
I see more, a nice gap up forming a huge island reversal!
Scaring the hell out of every bear, and that's why the Monday gap up today won't be a fake!
Trade carefully

[nimblebear]

Well that's close enough for me. Taking on a 2-4 day short positions.

Trade well

Gap closed?
I see more, a nice gap up forming a huge island reversal!
Scaring the hell out of every bear, and that's why the Monday gap up today won't be a fake!
Trade carefully

wonder how qid is doing. this is likely scaring him. hope he didn't have too much riding on trade.

[Darris]

To bad the Island gap up on the NDX/NAZ/QQQQs had to occur during the early part of expiry week, but if this gap up does not fill today, it could be considered an initial break away gap as well, and one always have to be aware of a delta hedge melt up going into Friday. Maybe after the FTSE close today, we will ease back a bit before the afternoon surge. There is still $70million in the NDX dynamic fund at Rydex that will need to get covered, and that would accelerate price to the upside a bit on the close.

[Mr Dev]

Gap closed?
I see more, a nice gap up forming a huge island reversal!
Scaring the hell out of every bear, and that's why the Monday gap up today won't be a fake!
Trade carefully

What you are seeing in the NDX is that Price is TRAPPED in THE GAP ZONE, leaving a gap underneath to fill.

There is nothing more really to see than that, I'm anticipating price test the bottom zone and top zone of a

channel I posted in January. We are close enough for me to take on a position, as I especially like to enter

short positions when the Bears are getting the "hell" scared out of them. I never like to much company.

What else besides filling the NDX gap leads to your decision?

It seems arbitrary, but it is obviously better to sell now versus a week ago.

Well I can tell that any new highs here will provide a Negative Divergence with a 3rd Push high playing out also.

Meanwhile there are a few other things technically that are going on but ifs really to early to focus on, as we

have lots of trading to do before they become more meaningful. (.... Oh and I have it overbought on a 30m signal.)

That's why I usually try and focus on a 2-4 day trade,
if it turns into something longer term, and it sometimes does, then I adjust my expectations as we go.

Edited by Mr Dev, 16 April 2007 - 10:47 AM.

[espresso]

I wish you good luck! I did my study over the weekend and i came up bullish, exactly like is happening! Although i'm looking for the big reversal in the next few to several days, i have a small long from 1817 and i don't think this gap will close till then... EC

[Mr Dev]

I wish you good luck!
I did my study over the weekend and i came up bullish, exactly like is happening!
Although i'm looking for the big reversal in the next few to several days, i have a small long from 1817 and i don't think this gap will close till then...
EC

Hi espresso
Wow your weekend study worked well,... so are you getting LONGER today?

Edited by Mr Dev, 16 April 2007 - 10:49 AM.

[espresso]

No longer, i'm a bear inside! But what i saw on my study i didn't like: too much bullish! I was and I'm expecting 2to7 days positive, but my study showed me that this bull could have no end!!!

[jjc]

Gap closed?
I see more, a nice gap up forming a huge island reversal!
Scaring the hell out of every bear, and that's why the Monday gap up today won't be a fake!
Trade carefully

What you are seeing in the NDX is that Price is TRAPPED in THE GAP ZONE, leaving a gap underneath to fill.

There is nothing more really to see than that, I'm anticipating price test the bottom zone and top zone of a

channel I posted in January. We are close enough for me to take on a position, as I especially like to enter

short positions when the Bears are getting the "hell" scared out of them. I never like to much company.

What else besides filling the NDX gap leads to your decision?

It seems arbitrary, but it is obviously better to sell now versus a week ago.

Well I can tell that any new highs here will provide a Negative Divergence with a 3rd Push high playing out also.

Meanwhile there are a few other things technically that are going on but ifs really to early to focus on, as we

have lots of trading to do before they become more meaningful. (.... Oh and I have it overbought on a 30m signal.)

That's why I usually try and focus on a 2-4 day trade,
if it turns into something longer term, and it sometimes does, then I adjust my expectations as we go.

Thanks for posting Mr Dev. I'm with you on the direction, but I'm holding my powder dry; (and scalping long) until after 2:15.