18 replies to this topic

[dcengr]

Ok I won't be mean.

Edited by dcengr, 31 August 2007 - 12:39 PM.

[Jnavin]

Ogm, it would be helpful if you posted an actual trade now and then. The generalized bullish case you make is interesting, but if you're taking issue with specific trades made by NAV, then you need to post your own specific trades as well. Maybe I missed it, but I haven't seen you do that much. For example, you would be a buyer of SPX right here at 1476...is that correct?

[ogm]

Unbelievable...one of the best traders here and all of sudden he doesn't know what he's doing.....give me a break...
...best to mind your own trades....Nav is a big boy...he knows what he's doing...

This was a sentiment observation. Nervousness, mistrust are persistant even among the best traders... that was the point of that comment. Nothing has to do specificaly with NAV.

No need to panic. No one is getting insulted here.

Ogm, it would be helpful if you posted an actual trade now and then.
The generalized bullish case you make is interesting, but if you're taking issue with specific trades made by NAV, then you need to post your own specific trades as well. Maybe I missed it, but I haven't seen you do that much.

For example, you would be a buyer of SPX right here at 1476...is that correct?

I do post actual trades, but I trade individual stocks for the most part.

One of my best winners in the last few days was TNH that I posted here with great confidence.. hope you got some. Posted when it was in the 80s.
Of course that one was the best. I'm not claiming to be a super star here.

And yes, I would buy SPX at 1476.

Edited by ogm, 31 August 2007 - 01:10 PM.

[underabigw]

Hello, I have a technical question that this thread brought to mind. If we have made an IT bottom and the market does start to trend up, what would be a good ema to use to get long on a dip. I'm mostly interested in going long the semiconductors via USD etf if that matters in what a good ema would be to use. I am very impressed with the knowledge level on this board and appreciate the chance to learn. Thanks, BW

[DraggdOut]

simple: buy a pullback to the new uptrend line with a tight stop. As an aside: why are you looking to get long SOX? semi's is a very low-margin, hyper-competitive business. Why not NDX, OIH, or XLE for example, where you have more exposure to high-margin, high-betas?

Edited by DraggdOut, 31 August 2007 - 01:24 PM.

[underabigw]

DraggedOut,

Thanks, I know it is a beginners question but I have to start somewhere.

The reason I was looking at the SOX is it seems strong recently and has little
exposure to all the negative credit stuff.

Thanks again for the reply.

BW

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simple: buy a pullback to the new uptrend line with a tight stop.


As an aside: why are you looking to get long SOX? semi's is a very low-margin, hyper-competitive business. Why not NDX, OIH, or XLE for example, where you have more exposure to high-margin, high-betas?

[DraggdOut]

UBW: I agree SOX has uptrend support around 483, although the slope is about 15 degrees. If anything though price action looks like it's tracing another shoulder in a H&S pattern with a neck line at about 479. I see some upside potential right now ST but it just doesn't smack me as a high reward:risk trade. I would watch the pattern as it develops though.

[underabigw]

DraggdOut,

Thanks for your insights on this. I will watch out for the H&S pattern to see how it developes.

Thanks again.

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UBW:

I agree SOX has uptrend support around 483, although the slope is about 15 degrees.


If anything though price action looks like it's tracing another shoulder in a H&S pattern with a neck line at about 479.

I see some upside potential right now ST but it just doesn't smack me as a high reward:risk trade. I would watch the pattern as it develops though.

[underabigw]

DraggdOut,

I just looked at your OIH idea. I like it. What do you think of using DIG etf to get a higher
return?

Thanks.

UBW:

I agree SOX has uptrend support around 483, although the slope is about 15 degrees.


If anything though price action looks like it's tracing another shoulder in a H&S pattern with a neck line at about 479.

I see some upside potential right now ST but it just doesn't smack me as a high reward:risk trade. I would watch the pattern as it develops though.