11 replies to this topic

[hiker]

failure to move up and really test 1538.71 high from the other day....so far today. on the intraday d/t line that was broken recently on the 5-day chart period, 1530 thereabouts needs to hold or this could be a short sellers' heaven in the making for short-term traders. I am fully short on today's news-driven spike, and will wait to cover until we move back up....I really have no idea what will happen..just taking a stab at playing the futures in this way with upside risk management that can be tightly controlled from today's early entry I am not a perma bull, tho' keeping some equities and ETF longs. no reason not to short term make some $ with leveraged futures bets yes, fib's chat last night at TW has some influence on my thinking to favor a selloff here....it is only a guess tho'

Edited by hiker, 20 June 2007 - 08:59 AM.

[Russ]

Hiker, Which chart are you talking about on Technical Watch...could not see one.

[hiker]

chat not chart look for the 6/19 chat transcript which fib has now posted..btw, it is possible to sit in on these market reviews live..start at 7 pm ET and are T, W, Th btw, at this point in time I do not plan to cover until a move back above +1535.85 to 1536.50 cash takes place...or a buy signal on the 3 or 13 minute is confirmed..right now I am ignoring the 60 min, but will look at it as day unfolds for cover signal

Edited by hiker, 20 June 2007 - 09:29 AM.

[Drano]

Could one of you guys post a link to that website? Thanks.

[Russ]

Could one of you guys post a link to that website? Thanks.

http://www.technicalwatch.com/

[Drano]

Thank you, Russ.

[hiker]

cash spx is going to need to move below 1526.47 or I close short..note bounce area yest and how it lines up with a prior day intraday spike

[hiker]

1526.47 HERE WE ARE..will it fail? QQQQ low from yest of 47.51 not far below low just tested from the a.m.

Edited by hiker, 20 June 2007 - 12:16 PM.

[hiker]

I may be waiting for lower levels that never come and miss a great exit, but am not going to cover unless a sustained move above spx cash 1532 to 1534 is seen today or another day. waiting for now

Edited by hiker, 20 June 2007 - 12:56 PM.

[hiker]

t/l drawn off the June 6th high of the open candle just now tested by day's low FWIW