Edited by Mr Dev, 17 May 2007 - 02:45 PM.
RUT & NDX THOUGHTS
#1
Posted 17 May 2007 - 02:44 PM
.. .. ..
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!
#2
Posted 17 May 2007 - 02:58 PM
.. .. ..
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!
#3
Posted 17 May 2007 - 03:37 PM
#4
Posted 17 May 2007 - 04:28 PM
This big patch of daily bars is not the usual clean V pattern that
the Nasdaq tops from.
Still can top, but not usual.
Huh?
Who mentioned a Nasdaq top,... or any daily formation?
Not Me
The only formation I referred to is a bullish one set up on the min charts today
Oh lol and the words.... usual and clear for a TOP thats funny too.
My meds aren't working today so please don't get me wound up tighter than a...
Edited by Mr Dev, 17 May 2007 - 04:33 PM.
.. .. ..
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!
#5
Posted 17 May 2007 - 04:44 PM
#6
Posted 17 May 2007 - 08:00 PM
This big patch of daily bars is not the usual clean V pattern that
the Nasdaq tops from.
Still can top, but not usual.
Huh?
Who mentioned a Nasdaq top,... or any daily formation?
Not Me
The only formation I referred to is a bullish one set up on the min charts today
Oh lol and the words.... usual and clear for a TOP thats funny too.
My meds aren't working today so please don't get me wound up tighter than a...
I thought you planned on trading back and forth on the way down.
VLE
#7
Posted 17 May 2007 - 08:55 PM
Let's see if this helps... We made THEE high on 5/7. On 5/10 we failed to test the 5/7 high on higher volume and a retracement ensued per our turn date... The next turn date is 5/24 and we should reach the target of 2492 on or before 5/23. And then we'll see, I expect another turn back up and a new high by June 12th.
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#8
Posted 17 May 2007 - 09:14 PM
Huh?
Who mentioned a Nasdaq top,... or any daily formation?
Not Me
The only formation I referred to is a bullish one set up on the min charts today
Edited by Russ, 17 May 2007 - 09:15 PM.
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#9
Posted 18 May 2007 - 08:30 AM
Hey Mr. Dev, I have noticed you are good at trading RUT. I am looking at the fact that it is oversold and holding 50-day MA. I have traded it both ways over the last couple of days. I am currently short (just because it is the weakest index), but looking forward more than 1 day, I think it has a chance of going up to or close to the highs. Your thoughts beyond tomorrow?
Denleo
Actually D,
Are you ready for a lengthy answer that just states be cautious?
I think there is a good chance it floats a few points higher again on into Monday afternoon, Tuesday I would expect a pullback
and if not Tuesday by the close then Wednesday morning ..again traders are still seeing liquidity and would anticipate it for Thursday so I will be anticipating and maybe getting a little long.
As far as the markets over all the S&P could likely make its high then too thus giving everything its else
including the RUT its support... there is no way I can tell at this time whether the RUT hits NEW HIGHS but I
doubt it.
The S&P will be following what I have as a Long term divergence already set up for the DOW.
Obviously I think that the RUT and NAS will avoid these divergences because no NEW HIGHS longer term.
At this time I wouldn't try and SHORT or go LONG with a full positions.. maybe reduce down to a 30% short today after the numbers or even a 30% Long for Monday.
Then play both ways equally,...meaning try and be Long just as often as you are Short...day to day that is
picking your trading opportunities or times based on your own short term timing.
Sorry I can't be more help,...I always try and get the short term right ,...and the longer term stuff seems to take care of it self.
Trade safe
I thought you planned on trading back and forth on the way down.
VLE
I think you got me figured out.... I just didn't exit my position yet...like I most times my advice is right but
sometimes I may not be following it for my next trading opportunity and sometimes I'll skip one move.
trade safe
Let's see if this helps... We made THEE high on 5/7. On 5/10 we failed to test the 5/7 high on higher volume and a retracement ensued per our turn date... The next turn date is 5/24 and we should reach the target of 2492 on or before 5/23. And then we'll see, I expect another turn back up and a new high by June 12th.
Sounds and looks like reasonable TA ! Always a bit tricky to hold ones ground tho.
Mr. Dev: Curious why one of your posts shows a short fund which you said looks like capitulation but on the other hand you are going long?
Hi Russ,
Well yes the other day I did post the short fund that looked like a capitulation move,...but as I was saying for the open today it would be a good IDEA to go Long..... or an alternative would be to stay out,...based on bullish set up,,....and re-short the POP.
Did I exit my 45,700+ share short the RYVNX ,.....no I did not....sometimes I give better advice to traders keeping them protected more than I protect myself!
Trade lighter than normal at this time, reduce positions and stress for a few days.
Trade safe and pick trading opportunities as they arise.
I'm keeping my bias at this time... and market thoughts next week are above.
trade safe
Edited by Mr Dev, 18 May 2007 - 08:31 AM.
.. .. ..
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!
#10
Posted 18 May 2007 - 08:45 AM
Hey Mr. Dev, I have noticed you are good at trading RUT. I am looking at the fact that it is oversold and holding 50-day MA. I have traded it both ways over the last couple of days. I am currently short (just because it is the weakest index), but looking forward more than 1 day, I think it has a chance of going up to or close to the highs. Your thoughts beyond tomorrow?
Denleo
D,
Just to share I have a 60m sell signal that is ON and will likely stay on until the RUT hangs above 823,or 826 to be safe, for a half day.
IF price reaches that area it will then likely pull back,.. and the signal could become a buy.
.. .. ..
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!