2 replies to this topic

[Mr Dev]

Well another give back loss for me so far ....it looks like longs should get another quick chance at a bounce in here,... if they can flipp at least the 30m trend on the RUT . It is difficult and it almost happened this am but didn't we may get another chance..tomorrow. But know with my daily and weekly trends STILL DOWN solid the next pop in the face of the sector breakdowns I mentioned early last week ....is probably just another great short opp. I'll go into more details some other time,...but being a lucky trending BULL trader...is NOT going to help you much with trading these dips as we move into a new market. Know that and ignore whatever BIG PICTURE theory you might of been told ....and you should be able to trade thru this and even make some money.. Believing in a BIG PICTURE will cause you a heart attack at times like these. trade well

Edited by Mr Dev, 25 June 2007 - 03:05 PM.

[Tor]

Good trading dev and thanks for posting. Personally, I remain bullish while 1487 in the cash price holds. Too much barishness in the face of a strong trend up IMO.

[arbman]

Believing in a BIG PICTURE will cause you a heart attack at times like these.

Very true Mr Dev.

Honestly the market went up because people believed the world was coming to an end, if the sentiment now shifts that we are in an invincible bull market, of course you can get a pretty decent decline.

But from what I can see, the equity P/C at 0.75 and the OEX P/C around 1.0, the times like these should be closer to a low than a high. Technically, I have given my reasons why I expect the intermediate term to be weak overall, but a short term buying opp is now presenting itself...

I am trading the volatility and risk/reward, not necessarily the longest trend, up or down. I won't be buying any decline tomorrow, but probably a low with further improving market would turn me more bullish. So far, I scalped today up and down only, I am going home flat...

- kisa

Edited by kisacik, 25 June 2007 - 04:08 PM.