6 replies to this topic

[Mr Dev]

Well the NDX continues to lag the RUT and if you are short like me that's good thing. I think the SOX may do its share to slow any advance by the NDX today The NDX has been racking up gains somewhere between +.23 to .40% a day since my entry....but those can start to add up,... at this time knowing one good down day can produce a 2% move I feel I can hold just a bit longer. I'm also getting more interested in gold again and the energy / oil sectors....so if I see the right progress there I may start to exit half of my total short position (win or lose) and move into gold and energy sector. I would like to see gold continue to raise slowly and Oil/energy to pull back just a little bit more. The optimum scenario would be to get a nice pullback in the markets (-2, -3% NDX) that also affects the energy/oil sectors, and to exit shorts at that time and buy back fully into the gold/oil/energy. I continue to see technical warning signals set up near the close for the last few days, just to be erased by each NEW high open. At this time, I still have a negative bias,...but note, not one strong enough to short the RUT yet,..if that tells you anything. I've been talking about moving a short back over to the RUT when I see an opportunity,..but I've yet to see one. So I'll likely let that idea go and just look to move back into energy,... and not trade so hard..hehe Trade safe

Edited by Mr Dev, 23 May 2007 - 10:00 AM.

[BigBadBear]

heavy seller seems to be in the futures

[Mr Dev]

The may also be some heavy selling of the RYVYX and buying of the RYVNX today as well.. those kinds of "sentiment" reversals can sometimes have a big effect.

Edited by Mr Dev, 23 May 2007 - 10:19 AM.

[jjc]

heavy seller seems to be in the futures

I would say heavy players (large # contracts). Both directions up volume leads down by 2.66 on ES over the last 15 minutes.

There is a chance we say the buying frenzy to put a period on the end of the uptrend would like to see that negative over a half hour to confirm there is no trend, however it seems traders are too fearful of being the bagholder here which probably means higher prices. 1532 ES I'm watching closely as well as my (day) trend indicators.

heavy seller seems to be in the futures

I would say heavy players (large # contracts). Both directions up volume leads down by 2.66 on ES over the last 15 minutes.

There is a chance we say the buying frenzy to put a period on the end of the uptrend would like to see that negative over a half hour to confirm there is no trend, however it seems traders are too fearful of being the bagholder here which probably means higher prices. 1532 ES I'm watching closely as well as my (day) trend indicators.

No Trend. Short it.

[kemo1k]

What is your current take on the dollar? How does a potential move in the dollar fit in with your consideration of the, stock index, gold and oil outlook?

[jjc]

heavy seller seems to be in the futures

I would say heavy players (large # contracts). Both directions up volume leads down by 2.66 on ES over the last 15 minutes.

There is a chance we say the buying frenzy to put a period on the end of the uptrend would like to see that negative over a half hour to confirm there is no trend, however it seems traders are too fearful of being the bagholder here which probably means higher prices. 1532 ES I'm watching closely as well as my (day) trend indicators.

heavy seller seems to be in the futures

I would say heavy players (large # contracts). Both directions up volume leads down by 2.66 on ES over the last 15 minutes.

There is a chance we say the buying frenzy to put a period on the end of the uptrend would like to see that negative over a half hour to confirm there is no trend, however it seems traders are too fearful of being the bagholder here which probably means higher prices. 1532 ES I'm watching closely as well as my (day) trend indicators.

No Trend. Short it.

Last post. Sorry Mr Dev for polluting your thread with all this short term crap.
Based on TOD parameters, I'm scratching my short here with a half point loss (Time based Stop).
Done for the day. good luck all.

[Mr Dev]

What is your current take on the dollar? How does a potential move in the dollar fit in with your consideration of the, stock index, gold and oil outlook?

It's a tiny bit overbought here so lets see what the pull back look like.

It my trade sideways for a week,...but then I think the next move is up.

Sorry Mr Dev for polluting your thread with all this short term crap.
Based on TOD parameters, I'm scratching my short here with a half point loss (Time based Stop).
Done for the day. good luck all.

no worries! I don't own the thread,.. we all share.