As predicted at the close yesterday. Now the key intraday resistance is around YM 13320-325 area. If that's cleared, then a challenge of 13360 resistance. Either way, a countertrend bounce has begun. I have a 30% short from 13270. Will add as we move up.
Gap-up
Started by
NAV
, May 11 2007 08:44 AM
12 replies to this topic
#2
OEXCHAOS
-
- Admin
- 22,026 posts
Mark S. Young
Posted 11 May 2007 - 08:52 AM
I really appreciate you sharing, NAV.
You're a trading animal! I'm not going to ask you when you sleep. Who can sleep! 
Mark
Mark
Mark S Young
Wall Street Sentiment
Get a free trial here:
http://wallstreetsen...t.com/trial.htm
You can now follow me on twitter
#3
NAV
-
- Traders-Talk User
- 16,087 posts
Member
Posted 11 May 2007 - 08:55 AM
Added another 30% YM position at 13310.
Contrary to the perception i give, i sleep 2 hours during the day and 7 hours during the night. 9 hours is plenty of sleep for a 35 year old adult
You're a trading animal! I'm not going to ask you when you sleep. Who can sleep!
Mark
Contrary to the perception i give, i sleep 2 hours during the day and 7 hours during the night. 9 hours is plenty of sleep for a 35 year old adult
#4
arbman
-
- Traders-Talk User
- 19,504 posts
Quant
Posted 11 May 2007 - 09:26 AM
No short yet, this strength in RUT... supposed to be the weakest...
#5
relax
-
- Traders-Talk User
- 2,224 posts
Member
Posted 11 May 2007 - 09:29 AM
Great sharing!
Should start going down soon!
need to go in negative territory
Should start going down soon!
need to go in negative territory
As predicted at the close yesterday. Now the key intraday resistance is around YM 13320-325 area. If that's cleared, then a challenge of 13360 resistance. Either way, a countertrend bounce has begun. I have a 30% short from 13270. Will add as we move up.
#6
NAV
-
- Traders-Talk User
- 16,087 posts
Member
Posted 11 May 2007 - 09:39 AM
No short yet, this strength in RUT... supposed to be the weakest...
What strength ? RUT is weaker relative to both SPX and DOW.
#7
arbman
-
- Traders-Talk User
- 19,504 posts
Quant
Posted 11 May 2007 - 09:52 AM
This is another induced low, here is the securities lending chart, look how the dealers are borrowing, this could be cleaning up the shorts before the actual correction...
For RUT, it had a very good impulse at the opening...
http://ichart.financ...,^MID,^SML&.png
For RUT, it had a very good impulse at the opening...
http://ichart.financ...,^MID,^SML&.png
#8
NAV
-
- Traders-Talk User
- 16,087 posts
Member
Posted 11 May 2007 - 10:05 AM
The strength really concerns me. I am closing my YM shorts at 13345. Will look at reshorting this later.
Edited by NAV, 11 May 2007 - 10:09 AM.
#9
arbman
-
- Traders-Talk User
- 19,504 posts
Quant
Posted 11 May 2007 - 10:56 AM
Short squeeze is most likely over... The last spike that quickly reversed... Implied volatilities are also rising, tick is sharply reversing from an extreme, trin is healthy though, let's see how much downside there is left...
#10
NAV
-
- Traders-Talk User
- 16,087 posts
Member
Posted 11 May 2007 - 11:19 AM
Short squeeze is most likely over... The last spike that quickly reversed... Implied volatilities are also rising, tick is sharply reversing from an extreme, trin is healthy though, let's see how much downside there is left...
Kisa,
My biggest concern here is not the size of rally, but the fact that the 60-min trend has turned up. I was almost ready put my last 30% short, but i decided against it. My biggest losses in futures trading has come when i was short and the 60-min trend turned against me. If the trend turns down again, i can again reshort this in a heartbeat. For now, i am flat and watching.
Edited by NAV, 11 May 2007 - 11:20 AM.
