I guess all that bottom picking at the close will have to be killed tomorrow... I honestly do not see much more risk than a day or two more unless it accelerates considerably tomorrow and I find that a bit unlikely for now. The rates seem to be stabilizing and the USD will probably stabilize next. The stocks usually bounce or rally moments later...
- kisa
Unless, not leaving that...
Started by
NAV
, Jul 10 2007 02:22 PM
14 replies to this topic
#12
eminimee
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- TT Member
- 14,307 posts
I don't care who's fur is flying...
Posted 10 July 2007 - 03:09 PM
Yes, very nice call Nav.......I'll put it up there in second place..just behind me.
LOL. But, i bet, i have scalped more points than you today.
..maybe.....but I'll take my 24 since Friday.
#13
rkd80
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- Traders-Talk User
- 2,385 posts
Member
Posted 10 July 2007 - 03:10 PM
Why should the market stabilize here? Daily indicators have all reach overbought levels and have plenty of room to fall. ST trend is broken again and the SPX now made a lower high. Looks bad nuf.
“be right and sit tight”
#14
jjc
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- Traders-Talk User
- 2,886 posts
Member
Posted 10 July 2007 - 03:21 PM
Indications on my end show it is not done falling; We shouldn't enter the consolidation phase
until after the morning is done displaying red.
#15
Mr Dev
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- Traders-Talk User
- 11,528 posts
Member
Posted 10 July 2007 - 03:21 PM
last .25% is your style....
Use your oscillators
We have more drubbing to come on the downside before we can call it oversold/done !
Hi Nav
I agree.. but want to make a point here for those that can't maximize their daily gains!
I'm sure you and many other astute technicians saw this coming this morning ...that on multiple time frames,
15m,30m, 60m, 120m, all the oscillators where well within range to easily violate the O-line support by the close.
Ah-em well folks...pros included,...when we see that setup... you will not get any letting up on selling (or
buying on up days) until usually the end of day...or the following morning.
Just know- it,... Live-it .....and learn-it.
Flip-flopping out of a correct position, on trend days like today...should mean back to TECH school...101 for you!
As NAV said ...it's all in the oscillators!
Congratulations for those that maximized and traded well today...we are just starting
to get bigger range days and we haven't seen them in a while.....you got to take advantage of "hold till the close" philosophy ......when the set up is right!
Edited by Mr Dev, 10 July 2007 - 03:22 PM.
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
