6 replies to this topic

[Mr Dev]

To trade or not to trade,...that is the question.

Well although a bit slow the Dow, is getting to the -200 points minimum forecast ...just 2 days ago!

We are getting close enough,.. if you look down from the 13690 high.

Mentioned,... in a few emails replies out to folks,

that 1.4 to 1.5% percent move would also convert to about 22.00 S&P points.

With the RuT short doing spectacular

these last 2 days,...if you could hold it,...you've optimized the move up to this point this morning.

Take your profits here if you would,... yesterday I said 1526. on the S&P was a good spot to take profits and

re-short the bounce, that's because the target was still in sight. Well we are close enough so don't get greedy

I want you to have a profitable trade and take the day off early! hehe

Me, ...oh I might just continue to trade,...but you might be surprised... I'm thinking of either flipping the RUT to

Long...or moving to the NDX for a long early or a late short. Not sure which.

Anyway .. I saw nice trading here at the board from the usual players ....as usual !

For you other folks that were looking for higher prices these last 2 days well you folks try and trade safer next time

Edited by Mr Dev, 06 June 2007 - 09:10 AM.

[qqqqtrdr]

To trade or not to trade,...that is the question.

Well although a bit slow the Dow, is getting to the -200 points minimum forecast ...just 2 days ago!

We are getting close enough,.. if you look down from the 13690 high.

Mentioned,... in a few emails replies out to folks,

that 1.4 to 1.5% percent move would also convert to about 22.00 S&P points.

With the RuT short doing spectacular

these last 2 days,...if you could hold it,...you've optimized the move up to this point this morning.

Take your profits here if you would,... yesterday I said 1526. on the S&P was a good spot to take profits and

re-short the bounce, that's because the target was still in sight. Well we are close enough so don't get greedy

I want you to have a profitable trade and take the day off early! hehe

Me, ...oh I might just continue to trade,...but you might be surprised... I'm thinking of either flipping the RUT to

Long...or moving to the NDX for a long early or a late short. Not sure which.

Anyway .. I saw nice trading here at the board from the usual players ....as usual !

For you other folks that were looking for higher prices these last 2 days well you folks try and trade safer next time

Dev:

Looking at the 60 minute charts we are have not broken support, but are currently at the breaking point. It is difficult to say at the moment whether we will break lower. If we break lower we should sell off another 20 points pretty fast. I believe this will happen since QQQQ Max Pain is around 46.3, so there is not too much demand to keep it higher.

I personally don't see the backdrop other than Private Equity removing supply of stocks that help move stocks higher. Fundamentals for a higher market are not there. The high level of shorts that use to be there have covered, so this is no longer giving us bullish push.

Barry

[zman]

Mr Dev, do you have a web site or a subscriber list? would like some info if you do please. thanks

[tozwp]

To trade or not to trade,...that is the question.

Well although a bit slow the Dow, is getting to the -200 points minimum forecast ...just 2 days ago!

We are getting close enough,.. if you look down from the 13690 high.

Mentioned,... in a few emails replies out to folks,

that 1.4 to 1.5% percent move would also convert to about 22.00 S&P points.

With the RuT short doing spectacular

these last 2 days,...if you could hold it,...you've optimized the move up to this point this morning.

Take your profits here if you would,... yesterday I said 1526. on the S&P was a good spot to take profits and

re-short the bounce, that's because the target was still in sight. Well we are close enough so don't get greedy

I want you to have a profitable trade and take the day off early! hehe

Me, ...oh I might just continue to trade,...but you might be surprised... I'm thinking of either flipping the RUT to

Long...or moving to the NDX for a long early or a late short. Not sure which.

Anyway .. I saw nice trading here at the board from the usual players ....as usual !

For you other folks that were looking for higher prices these last 2 days well you folks try and trade safer next time

Thanks Mr Dev - Nice trading! I'm out this morning with my rut short taken Monday morning. I had a nice signal on Friday but didn't have the guts to take it over the weekend :-( Still, a very nice trade and a shortened work day.

[BigBadBear]

so many on TT seem conditioned to take their short profits quickly. I can see why given the last 3yrs or so but I hink this decline will go for a while as we are only at the start.

[Mr Dev]

I agree with the bearish comments as the weekly signals I use are turning. And bbbbear, good or bad, taking profits on short positions has been the only way to gain profits in this straight up bull market. So conditioned or not,..it ( has been ) the smartest thing to do to build capital for a larger short position going into the last two days! It's all about the timing, and the above scenario may not be over yet. Anyway, here's what I did today,... based partially on a little less liquidity from the FEDs I decided to take 50% off my Rut shorts, and.......moved them to the NDX still short. We'll see if I get anything out of playing that spread. At the time the RuT was down approx -.90% and the NDX was down -.72%. At this time I do expect that when we do bounce it will likely be more violent for the RUT than the NDX. No long today, but that would of been in the RUT because any short covering rally that is better positioned there. If I do get a little more out of the NDX/RUT position at the end of day I'm still tempted to take all profits and will likely put a 30% position into the RUT Long. * * ZMAN, No website, just here at the FF board, which in my opinion has some of the best technicians in its roots. I do accept PMs if they're not full, and anyone can email me from the member's section. Trade well

Edited by Mr Dev, 06 June 2007 - 10:23 AM.

[Mr Dev]

Anyway, here's what I did today,... based partially on a little less liquidity from the FEDs I decided to take 50% off my

Rut shorts, and.......moved them to the NDX still short. We'll see if I get anything out of playing that spread.

At the time the RuT was down approx -.90% and the NDX was down -.72%.

Well with the NDX finishing down -.90% and the RUT -.82% I actually improved on my potential gains into the close.

Here's how it worked,... Took the Rut gains at approx .90% x2 (probably pays alil more than 1.82%) and shifted

over to the NDX that had only dropped .72%x2. By the end of the day... the RUT finished down -.82% so I

saved approx .08% give back on half, and the NDX finished down -.90% so I made and extra +.18%x2 on the other half there or

+.36% more. But back out the .16% give back and I net apprx +.20% THat's not alot I grant you,.. but every little bit adds up!

Take into consideration that the tiny percentage gain,.. compounded on my morning gains and it comes out

to an extra 1,000 bucks +/-, and had I done the whole amount 2,000.+/-

P.S I always gotta kick myself ...even if I did a good job today. We traders are good that.

Bottom line more than enough extra lil somthin to celebrate a nice dinner with the family, as we say good bye to another school year.

Join me tomorrow, see ya then.

Edited by Mr Dev, 06 June 2007 - 03:52 PM.