We don 't have a strucurally sound bottom on the hourly on both ES and NQ. So i would expect a retest of friday's lows, ideally after the silly hour. That's the technical play here. But the tactical play would be to just gap and run, trapping the shorts waiting for a retest and leaving behind the bulls waiting for an entry. The tactical play is low odds but, nevertheless a possibility !. I won't be posting my trades for a couple of weeks, as i am trying some new money management techniques. But i will keep posting my hourly signals.
Good luck everyone.
Tactical vs Technical
Started by
NAV
, Jul 23 2007 08:29 AM
11 replies to this topic
#2
ogm
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Posted 23 July 2007 - 08:34 AM
Silly hour. Thats a good name for it. Equity put/call starting off at 0.35. Everyone rushing to buy the dip so far.
#3
Pabst
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Posted 23 July 2007 - 09:14 AM
Silly hour. Thats a good name for it. Equity put/call starting off at 0.35. Everyone rushing to buy the dip so far.
The profile of the past several higher opens off of break days has been gap and go to the upside.
The market's been adept at not letting buyers see advantagous prices on follow through.
Obviouslly buyers are adapting by reaching long right off the open. They'll regret their actions. Bear markets LOVE to fool pattern guys by giving a bull tell and then turning down.
Free market's for free men!
#4
NAV
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Posted 23 July 2007 - 09:18 AM
Bear markets LOVE to fool pattern guys by giving a bull tell and then turning down.
Bear markets ??
#5
NAV
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Posted 23 July 2007 - 09:28 AM
I am smelling a bear trap, right here. Based on some prelimnary hourly readings, it's very likely we will head higher after the 10:30 Est CIT. I would be surprised if it does not. If ES 1553.25 gets taken out after 10:30 Est, then i think we have very likely seen the bottom for this hourly swing. Intraday breadth is good on the NYSE. Caution, if you are short.....I am going long with tight stops right here. I will get a confirmed buy/sell at 11:00 Est.
Edited by NAV, 23 July 2007 - 09:30 AM.
#6
Pabst
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Posted 23 July 2007 - 09:31 AM
Bear markets LOVE to fool pattern guys by giving a bull tell and then turning down.
Bear markets ??
Wishful thinking.......
Free market's for free men!
#7
arbman
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Posted 23 July 2007 - 10:04 AM
Looking at the options, there is no respect for risk anymore, it is turning into a greed game...
#8
skyymaster
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Posted 23 July 2007 - 10:11 AM
Looking at the options, there is no respect for risk anymore, it is turning into a greed game...
Great ! Greed has bit to go. The $64 million dollar question is do jump in. If so, do feet first instead of your head.
People should not be afraid of their governments. Governments should be afraid of their people.
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Remember this day, men, for it will be yours for all time.
#9
OEXCHAOS
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Mark S. Young
Posted 23 July 2007 - 10:19 AM
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#10
NAV
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Posted 23 July 2007 - 10:20 AM
"You keep using that word -- I do not think it means what you think it means."
Mark,
What word ?
