Far too much time on my hands waiting
Started by
eminimee
, Jun 28 2007 12:33 PM
2 replies to this topic
#1
eminimee
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- TT Member
- 14,307 posts
I don't care who's fur is flying...
Posted 28 June 2007 - 12:33 PM
Just cautious here before the FED so totally flat... a few small scalps this morning and that's all I'm prepared to do until I see what's happening at around 2:30. Things look bullish for more up...new highs in fact...however....the ES hourly is flirting with an 8 over 34 cross and that's a buy for me if it happens but also very wary of a kiss and turn down too. I'm also leery that we didn't get the dip I was expecting this morning or over the lunch time and find it odd that we are holding over 1522/23 at the moment before the FED...not odd really...wrong word....unexpected is a better word. So...either buyers are chopping at the bit or there is some distribution going on here. FF says we have some pretty big swings off the number...my guess is up,down, up....but would be leery of down,up,down.
...yes....thinking far too much and we'll get a moon shot and not look back.
#2
Bob-C
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- Traders-Talk User
- 5,316 posts
Member
Posted 28 June 2007 - 12:49 PM
Hi TP, the NYA and VLE are up strong today, far more than the INDU. IMHO, the INDU is being held back to contain buying before the bulk of the stocks are launched to higher prices. QQQQs looking to go higher. I look forward to your QQQQ update.Just cautious here before the FED so totally flat... a few small scalps this morning and that's all I'm prepared to do until I see what's happening at around 2:30. Things look bullish for more up...new highs in fact...however....the ES hourly is flirting with an 8 over 34 cross and that's a buy for me if it happens but also very wary of a kiss and turn down too. I'm also leery that we didn't get the dip I was expecting this morning or over the lunch time and find it odd that we are holding over 1522/23 at the moment before the FED...not odd really...wrong word....unexpected is a better word. So...either buyers are chopping at the bit or there is some distribution going on here. FF says we have some pretty big swings off the number...my guess is up,down, up....but would be leery of down,up,down.
...yes....thinking far too much and we'll get a moon shot and not look back.
Cheers,
Bob-C
Disclaimer: None of my posts are meant to be taken as investment advice or trading advice. Do your own due diligence and consult your financial advisor before making any trades or investments.
#3
NAV
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- Traders-Talk User
- 16,087 posts
Member
Posted 28 June 2007 - 12:56 PM
Just cautious here before the FED so totally flat... a few small scalps this morning and that's all I'm prepared to do until I see what's happening at around 2:30. Things look bullish for more up...new highs in fact...however....the ES hourly is flirting with an 8 over 34 cross and that's a buy for me if it happens but also very wary of a kiss and turn down too. I'm also leery that we didn't get the dip I was expecting this morning or over the lunch time and find it odd that we are holding over 1522/23 at the moment before the FED...not odd really...wrong word....unexpected is a better word. So...either buyers are chopping at the bit or there is some distribution going on here. FF says we have some pretty big swings off the number...my guess is up,down, up....but would be leery of down,up,down.
...yes....thinking far too much and we'll get a moon shot and not look back.
I don't watch intraday e-waves these days. But looking at the 5-min charts from yesterday, what's pending here is the wave 3 of 3. For this count to transpire, we should not dip for more than a couple of points on the ES. I think a straight vertical move up is my expectation post-fed decision, based on the wave count and the momo signature i posted in my blog. Anything else is bearish and i would snug my stops immediately.
BTW, i hate these Fed days. The men with muscle control the whole show.
Edited by NAV, 28 June 2007 - 12:57 PM.
