YM hits 13000
Started by
NAV
, Apr 20 2007 03:10 PM
7 replies to this topic
#2
VolPivots
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Posted 20 April 2007 - 03:18 PM
IB shows a 1300+ closing tick....we're headed to the moon and everyone knows it.
#3
NAV
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Posted 20 April 2007 - 03:20 PM
IB shows a 1300+ closing tick....we're headed to the moon and everyone knows it.
I have the closing tick as +1235. Gap down on Monday ??
Edited by NAV, 20 April 2007 - 03:21 PM.
#4
arbman
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Posted 20 April 2007 - 03:37 PM
I have the closing tick as +1235. Gap down on Monday ??
NAV, yes a gap down is quite likely, but I also think that it will be immediately bought... I'd like to see the lows made early in the week ahead of the end of the month in the following week (April 27-30). I think they will make sure that April closes at the highest tick from here. I still think it will be more of a trading range until early May now, perhaps until the middle of May (10 wk low).
These Fed's injections invalidate my thinking about the left translated 20 wk cycle for the most part. The tech is still holding up and leading a bit (although not today). I sold a lot of my longs into the closing today, but I didn't add any new shorts. If it breaks down next week (2+ std dev decline), I will sell any rally again, otherwise, I think it is still a buying opp before it tops off...
SPX would gain about 36% if it continues at this pace, clearly unsustainable and clearly this overbought market will come to a rest for a while. The 10 wk low is due at the middle of the May, there were 427 b/os this week and this is clearly a blow off --more than Jan and Feb highs (around 250-280) and confirms the break out in a sense--, so I think it tests at least before pulling back further...
Have a great weekend,
- kisa
Edited by kisacik, 20 April 2007 - 03:44 PM.
#5
VolPivots
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Posted 20 April 2007 - 03:42 PM
IB shows a 1300+ closing tick....we're headed to the moon and everyone knows it.
I have the closing tick as +1235. Gap down on Monday ??
Seems to be the recent trend....I shorted NQ in afterhours (as a portfolio hedge). SOX is overextended and NQ is underperforming as 'they' pump ES and YM with 1500 magnet dead ahead.
I had 4/19 as a potential CIT date per the chart below (fractal-based forecast obviously wayyyy off)....all the other dates were with 2 days of the recent turns, but should the times continue to play out, I'm not expecting much downside...yet.....
Edited by marketneutral, 20 April 2007 - 03:44 PM.
#6
Mr Dev
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Posted 20 April 2007 - 03:45 PM
I have the closing tick as +1235. Gap down on Monday ??
Although it moved around a bit after the 4:00 they leave it at 1323 on Quote.com
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#7
Mr Dev
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Posted 20 April 2007 - 04:02 PM
Seems to be the recent trend....I shorted NQ in afterhours (as a portfolio hedge). SOX is overextended and NQ is underperforming as 'they' pump ES and YM with 1500 magnet dead ahead.
I had 4/19 as a potential CIT date per the chart below (fractal-based forecast obviously wayyyy off)....all the other dates were with 2 days of the recent turns, but should the times continue to play out, I'm not expecting much downside...yet.....
Is the Comp the only set up you were expecting ?
Do you ever look to trade ER or the RUT?
Recently ...last 3 days,.. it has been the only one of the majors to have had a noticeable sell off.
It actually gave me a sell signal on the Daily Chart yesterday,..but I like to focus on another
time frame,.. which btw came off its sell signal today.
Ya see anything going on there ?
I would of PMd this but you're either full or turned off.
Best
..........
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#8
VolPivots
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Posted 20 April 2007 - 10:49 PM
Dev, that's actually the value line index charted, but SPX, RUT, and Dow are highly correlated with it, at least in recent times, so if you analyze one, you're pretty much analyzing all of 'em. When correlations start waning, like we saw some signs of this week, it's often a precursor to a correction....why I choose to short NQ as a hedge--da boyz are buzy spending their energy goosing the Dow and SPX (hopefully they use NQ as a hedge as wellIs the Comp the only set up you were expecting ?
Do you ever look to trade ER or the RUT?
Ya see anything going on there ?
) I do trade ER2...my primarily intraday trading vehicle when/if time allows, but don't use any charts. Just watch premiums, relative performance vs. ES and NQ, price levels and how the tape is trading around them....find it's usually a lot easier to read than the program-blasted ES. NQ is almost random at times...
Edited by marketneutral, 20 April 2007 - 10:50 PM.
