12 replies to this topic

[NAV]

Closed the rest 50% of my QQQQ puts at breakeven. While doing that, i missed the fast move on ES. Now flat and looking for a spot to goo long.

[eminimee]

we need a 5 min bar to close above 20.50 es for long...another long for me that is........i was long from 08 to 16 now flat. I'm babbling...a test of 16.50 and hold is another trigger for long for me fwiw

Edited by Teaparty, 13 June 2007 - 09:36 AM.

[NAV]

Long now ES 1517.

[eminimee]

I'm with you...but got a better price ...16.75 lol I'm not married to this by any means....pretty tight stop.....and may even reverse it. If this is a good long...once on top of 22...we should fly....either in a 3 of a 5th or 3 of a C.....right now I'm thinking the latter. stopped at 15.25

[NAV]

I'm with you...but got a better price ...16.75 lol I'm not married to this by any means....pretty tight stop.....and may even reverse it.

If this is a good long...once on top of 22...we should fly....either in a 3 of a 5th or 3 of a C.....right now I'm thinking the latter.

stopped at 15.25

I have reasonably wide stops on this one.

[NAV]

With the NYSE A/D around 72% (adv) vs 24%(Decl) today, which is a mirror image of yesterday, odds favor an upside resolution. But volatile markets can have it's own rude surprises. We'll see...

[denleo]

I think you are clearly against the force. I am sure you can pull something out of this trade, but I view any rally as short-term selling opportunities right now. Good luck with the trade! Denleo

[eminimee]

Chop gives me too much time to guess.



http://stockcharts.com/c-sc/sc?s=$SPX&p=5&yr=0&mn=0&dy=5&i=p64325456490&a=93322579&r=9996.png

[NAV]

I think you are clearly against the force. I am sure you can pull something out of this trade, but I view any rally as short-term selling opportunities right now.

Good luck with the trade!

Denleo

Denleo,

Yes, it's a countertrend trade and hence it's against the tide by definition. But here's what i am seeing.

I am watching the tape here. 10:00 AM Est high volume bar had 200,000+ contracts changing hands. After that we have seen 6 30-min bars, which have been struggling to break that high volume bar lows. That tells me that there some good buying pressure holding up the market here. The intraday A/D is also providing good support here. As i said, sometimes despite all lining up, volatile markets can throw rude surprises.The only way i can envision the market breaking down today is, if we are forming a distributive slope here. But volume and breadth are arguing otherwise. TWT

[steve]

If the market can hold after 1:00 cst (time of the past two days high), then I think it moves higher.