21 replies to this topic

[rkd80]

ahh, interesting. you still looking to short meaningful bounces?

nav, i always found divergences tough to trade. couldnt there be in theory be another lower low but a higher oscillator bottom?

this your personal momentum model right?

This is not a signal to buy, but a good place to cover shorts for VST traders. Aggresive countertrenders can take long trades,but very risky. Sure we can make another low with another divergence. But it's very rare you see more than 3 divergences.

BTW, i am only shorting bounces here until i get a hourly buy signal.

[LarryT]

I can see three waves down from the July 18th super cycle top....hahaha

am i crazy for going long at es 1524?

i might be...

Odds are very high we trade sideways now for today and part of Thursday, drop to 1495 Friday. Then its safe to go long for one week. I really blew it this morning, dropped my 1533 sell to 1531.25, got short then got spooked for .5 pt profit. Couple minutes later it tanked to daily down test 1512.

[NAV]

ahh, interesting. you still looking to short meaningful bounces?

nav, i always found divergences tough to trade. couldnt there be in theory be another lower low but a higher oscillator bottom?

this your personal momentum model right?

This is not a signal to buy, but a good place to cover shorts for VST traders. Aggresive countertrenders can take long trades,but very risky. Sure we can make another low with another divergence. But it's very rare you see more than 3 divergences.

BTW, i am only shorting bounces here until i get a hourly buy signal.

Yes still looking to only short. I am not a good countertrend trader. Just can't take the heat.

[arbman]

I really blew it this morning

I did too, I was long from the close, I closed the longs right after the open, I should've initiated some shorts there. I've been staring at the computer for hours now and not taking any trade, what a waste of time...

[eminimee]

I caught it..shorted 31.75...didn't post here...but did on another board....Iknow....won't count lol I shorted ES when OEX touched back to the late June low. I'm flat now. here's a chart of that oex thingy touch back I'm playing...stop is pretty tight at 1534 PS..half off at 26.50 breakeven stop on rest. PSS: another half off at 1512.50 stop on balance at 1517.25 PSS: stopped out on balance at 1517.25...looking for next set up

[Russ]

Nav, What settings are you using for your macd? Thx Russ

[NAV]

I really blew it this morning

I did too, I was long from the close, I closed the longs right after the open, I should've initiated some shorts there. I've been staring at the computer for hours now and not taking any trade, what a waste of time...

Ah, we all do that. I shorted the ES this morning. It was a no brainer trade. Backkiss of 34 EMA on hourly charts always fails on the first attempt.

I blew up my silver trade from yesterday. I was short silver yesterday from 13.380 and covered after the gap-down today morning against a small reaction. It cratered another 200 ticks after that. That hurts.

Edited by NAV, 25 July 2007 - 11:19 AM.

[gorydog]

I think we are looking at a symmetrical triangle digesting yesterdays drop, so it should resolve down. GD

Edited by gorydog, 25 July 2007 - 11:16 AM.

[NAV]

Nav,

What settings are you using for your macd?

Thx
Russ

21,34,8

[rkd80]

ouch, stopped out for a 5 point loss. i am a little surprised to see it crumble all over again. i knew that gap and rush out of the exits was no good, but figured by 10:30 that was worked off. nav - you are right again, dont mess with the prevailing trend - then you dont have to wonder why the long side is not working out. but what side to be on the market is still unclear to me as the oversold conditions are getting worse.