12 replies to this topic

[Mr Dev]

Short term indicators have turned Up as expected now they have reached their down trendline of resistance.... if price quickly pulls back it is likely gearing up for a Trendline break and possibly providing the Highs to be seen near the end of day. best to all trading

Edited by Mr Dev, 08 May 2007 - 01:12 PM.

[Cirrus]

Shorty is getting squeezed into the Fed meeting. 'Junk' is leading as homebuilders and stocks like CFC take off. It's funny to watch the operators at work. Into a Fed meeting after a 3 week rally they really goose CFC. This is truly a difficult market to short unless you really know what your doing--and you're an outstanding trading tactician.

[kemo1k]

Mr. Dev, are you still leaning towards taking off this am NDX long and flipping to short for tomorrow am? If so, NDX or RUT? Thanks

[Mr Dev]

This is truly a difficult market to short unless you really know what your doing--and you're an outstanding trading tactician.

I'm honored to have the kind words.

[cybersaavy]

Something else to keep an eye on at this juncture is AVB

Linky

Stop in the $123.50 area is fairly obvious.

cs

[BigBadBear]

another lower futures open bought. what else is new. Easy money imo

[Mr Dev]

Kemo,

yes at this time nothing has changed for me and here is why..

first the short term charts of the NDX and the RUT breaking the trend line as I was first posting.

NDX


Ooooops this is the right one.
RUT


...NOW THE DAILYs
NDX


RUT


These still give me a good chance at shorting with a tight stop,... and much less risk,..as I see it.

Timing is good too ,..others on both sides have been caught off guard,...some confusion out there means less folks are getting involved today.

I like that as I just stick with the plan and trade right thru,... kind of like playing thru on the golf course while your 4-sum is on a roll.

Edited by Mr Dev, 08 May 2007 - 01:39 PM.

[jjc]

Good trade, as usual Mr Dev. thx for posting.

[Mr Dev]

jjc,..thx anytime. kemo The NDX is starting to look good again for a short ops,..but could still pop,.. but then decelerate quickly and reverse down quickly. The Rut has provided more steady good short ops lately imho.

[eminimee]

spx and oex I think have topped a b wave at this afternoons high...I think we chop in a very narrow range into close with a small gap down in the morning...Fed announcement should be a high and then a low into close tomorrow at or near 1500/02 ES. Crystal ball ********.