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Consolidation at highs

Started by Tor , Jun 02 2007 05:49 AM

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4 replies to this topic

#1 Tor

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Posted 02 June 2007 - 05:49 AM

I am looking for targets INDU 14,500 SPX anything from 1550 to 1600. I am going to try and ride this thing as far as it goes. IMPORTANT: risks are rising, so I am going to have a regimented stop loss strategy in place. In the unlikely event it goes wrong I will stop out for nominal losses. Its a kind of pyramiding strategy.

http://www.signalwat...markets-dow.asp

I am looking for targets INDU 14,000 SPX anything from 1550 to 1600. I am going to try and ride this thing as far as it goes. IMPORTANT: risks are rising, so I am going to have a regimented stop loss strategy in place. In the unlikely event it goes wrong I will stop out for nominal losses. Its a kind of pyramiding strategy.

Once again I want to thank uncle Ben for this strategy and the liquidity in this market!!! Its a great time indeed. Sure when it stops it wont be good, but for now ITS PARTY TIME!

http://www.signalwat...markets-dow.asp

Edited by Tor, 02 June 2007 - 05:50 AM.

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The future is 90% present and 10% vision.

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#2 CLK

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Posted 02 June 2007 - 06:10 AM

This market is ok, but I'd like to see a 500 point up week once in a while for some serious profits.

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#3 Tor

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Posted 02 June 2007 - 07:18 AM

This market is ok, but I'd like to see a 500 point up week
once in a while for some serious profits.

I dont think thats possible - 500 in a week, although I think dow 14000 is possible and spx 1550. I am trading carefully here, as we can see a correction right here, but I am putting those up as long term targets. Later this year I mean. In the meantime, why fight the trend when it is so strong and upwards?? There is no reason to fight a trend like this. Even if we gap down, which is my worst case scenario, then I could lose maybe 10 points SPX, but that is miniscule compared with what I have made in riding this bull up since I capitulated and buying the dips.

Its an interestin juncture.

All this said, a strong move up will seal it as far as the bear mutilation goes however.

HONOUR THY STOPS HERE I would say.

Edited by Tor, 02 June 2007 - 07:21 AM.

Observer

The future is 90% present and 10% vision.