15 replies to this topic

[NAV]

ES 1547.50. My hourly momo is turning up.

[denleo]

Is that a day trade with a stop below 1542? Thanks Denleo

[eminimee]

It's always hard to believe low tick buys...but I am long from 1542.50..took half off at 48.50... stop on rest still at 40.75...but looking to add back long at some point...probably on a 10 min buy signal.....if not stopped out before hand.

[NAV]

Is that a day trade with a stop below 1542?

Thanks

Denleo

No it's not a daytrade. I am expecting much higher prices and it's a multi-day trade. Consider this a first probe. If it fails, i will try again. I am expecting SLINGSHOT PART II with this trade.


I also bought some IWM calls with this, around 83.40 area.

Edited by NAV, 18 July 2007 - 12:46 PM.

[eminimee]

1575 by Friday morning..winkwink, nudge nudge

[arbman]

NAV, are you seeing the breath turning back up from here? Why did you buy IWM options?

[NAV]

NAV, are you seeing the breath turning back up from here? Why did you buy IWM options?

Kisa,

Price has to turn before breadth turns. So to answer your question, i have no idea whether breadth is going to turn today or not. Are we going to have a trend day on teh downside ? -possibly. But i am a price momentum trader, so everything else is secondary to me. I have seen rallies out of very negative breadth conditions. I could have asked the same question to myself during those rallies and have entirely missed them. I am just following my system. If it fails, there's another trade.

[eminimee]

Moving stop to breakeven on the half left...I really don't want to see another low....if we rally from another low ...I'll find a place to catch it

[Insider]

Is that a day trade with a stop below 1542?

Thanks

Denleo

No it's not a daytrade. I am expecting much higher prices and it's a multi-day trade. Consider this a first probe. If it fails, i will try again. I am expecting SLINGSHOT PART II with this trade.


I also bought some IWM calls with this, around 83.40 area.

I think you have to see the remarkable divergences below....

The first attempt to break down the zero line (MACD) usually produces a strong bounce (dead cat)....
The MACD and the NYSI will cross below zero soon.....

The daily drives the other time frames ....not viceversa

1360 SPX again in September

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&b=5&g=0&i=p87215569840&r=9239.png

Insider

[thespookyone]

Is that a day trade with a stop below 1542?

Thanks

Denleo

No it's not a daytrade. I am expecting much higher prices and it's a multi-day trade. Consider this a first probe. If it fails, i will try again. I am expecting SLINGSHOT PART II with this trade.


I also bought some IWM calls with this, around 83.40 area.

Bought some five cent calls-BRING IT.

Edited by thespookyone, 18 July 2007 - 02:15 PM.