9 replies to this topic

[IYB]

I'll leave day trading, counter-trend trading, bounces, projections, counts and the rest to others. Based on momentum, trend is down and the trade is short. Good Weekend, D

Edited by IYB, 27 July 2007 - 04:31 PM.

[jawndissedi]

In order for people like me to enjoy the mind-bogglingly low commission rates that IB charges, it is necessary for traders like those who dominate this board to manically zip in and out of the market on every signal they can find. This is a good a thing, and I encourage it. I also encourage folks to carry large balances on their credit cards, to HELOC any real estate they may own, and to generate as much fee and interest income as possible for the beleaguered institutions in the financial sector. The longer you keep thrashing around, the longer I get to ride for free. TIA.

[eminimee]

Words to be repeated soon............



http://www.traders-t...?...ic=17842=

[greenie]

I agree with IYB. Staying short here....

In order for people like me to enjoy the mind-bogglingly low commission rates that IB charges, it is necessary for traders like those who dominate this board to manically zip in and out of the market on every signal they can find. This is a good a thing, and I encourage it. I also encourage folks to carry large balances on their credit cards, to HELOC any real estate they may own, and to generate as much fee and interest income as possible for the beleaguered institutions in the financial sector. The longer you keep thrashing around, the longer I get to ride for free. TIA.

I second that !!!

[Russ]

Words to be repeated soon............
http://www.traders-t...?...ic=17842=

How soon?...


http://stockcharts.com/c-sc/sc?s=$INDU&p=D&yr=3&mn=0&dy=0&i=p04284989691&r=2505.png

[eminimee]

I think I've worn it out.....oex 672...probably Monday.

[Russ]

I think I've worn it out.....oex 672...probably Monday.

If the dow cracks the current support there is no support for another 500 points.

[thespookyone]

The trade looked a lot better short Tuesday morning, than it does now. Whenever the market turns Monday off the first 13 to 14 point SPX drop-I'm LONG. As for momentum-off this drop, I think the up momentum will be parabolic. The day trading, and countertrend trading has been fantastic these last couple months, very simply smoking any buy and hold position, especially considering the three round trips on the SPX-thanks to all who leave it to me. Spooky

Edited by thespookyone, 27 July 2007 - 08:03 PM.

[NAV]

I'll leave day trading, counter-trend trading, bounces, projections, counts and the rest to others. Based on momentum, trend is down and the trade is short. Good Weekend, D

IYB,

I presume you are talking about the daily trend. A higher order timeframe (weekly or monthly) trader can make a equally compelling statement like "I will leave the hourly, daily, declines, corrections to others. But the trend is up on the weekly and monthly. The trade is long". Speaking of the daily/hourly trend, it's a no brainer that the trend is down. My respect is to you folks who can sit tight and ride the trend. Good trading !

In order for people like me to enjoy the mind-bogglingly low commission rates that IB charges, it is necessary for traders like those who dominate this board to manically zip in and out of the market on every signal they can find. This is a good a thing, and I encourage it. I also encourage folks to carry large balances on their credit cards, to HELOC any real estate they may own, and to generate as much fee and interest income as possible for the beleaguered institutions in the financial sector. The longer you keep thrashing around, the longer I get to ride for free. TIA.

Don't try it at home. It's not for everyone !

On second thought, why does low commision matter to you, when you don't manically zip in and out ?

Edited by NAV, 28 July 2007 - 12:31 AM.

[IYB]

Words to be repeated soon............

http://www.traders-t...?...ic=17842=

Actually, my main point was and is that the downtrend is solid and intact- and that for now there are no signs, early or otherwise, of that trend reversing any time soon-----normal countertrend moves notwithstanding, of course.

And my secondary point was that for me- simplicity is best....others should continue to do what they do best. D

Edited by IYB, 28 July 2007 - 01:28 PM.