5 replies to this topic

[Tor]

SPX 1505, stop 1495. I think bears are deluded here. there is no pullback so far, just a high level consolidation.

[Mr Dev]

You are right,.. as far as the SP or ES goes there is no pullback ... it hasn't started yet. You can call todays Upmove in the SP consolidation if you'd like but it is an Up move and again the pullback has yet to begin. Mid day entries with tight stops,... funny traders that want to hold a position play that way because the will usually be stopped out right or wrong,.. as we move into the last hour. Good luck tho

Edited by Mr Dev, 16 May 2007 - 10:58 AM.

[jjc]

You are right,.. as far as the SP or ES goes there is no pullback ... it hasn't started yet.

You can call todays Upmove in the SP consolidation if you'd like but it is an Up move and again the pullback has yet to begin.

Mid day entries with tight stops,... funny traders that want to hold a position play that way because the will

usually be stopped out right or wrong,.. as we move into the last hour.

Good luck tho

Agree here mr dev. short es. Look at gold!

[Mr Dev]

Agree here mr dev. short es. Look at gold!

Ya checked that out and thought hmm GLD nearing daily support,... but also checked the 60m charts and the XAU has such a negative pattern that timing a low needs to have patients,,,, probably lower before a bounce and then a retest of daily support.

And if there is a swift dip then it could be a backkiss of daily resistance.

Looks a little tricky for me to move money into cash and then time a GOLD fund for and end of day entry and then again the exit after.

Edited by Mr Dev, 16 May 2007 - 11:30 AM.

[Mr Dev]

****** Wow the GLD just double it's percentage losses for the day...that was quick... extra volatility as it nears its ST make or break point.

[jjc]

******
Wow the GLD just double it's percentage losses for the day...that was quick... extra volatility as it nears

its ST make or break point.

I was merely pointing gold out as an indicator (YEN also) although I am short GC.