27 replies to this topic

[NAV]

100% long with ETFs near SPX 1520 area. Taking a risk of about 1.5%. Stop - daily close below SPX 1505. This is a swing position, not a VST trading position. Will buy leveraged longs once the 30-min turns up. We are not there yet.

[arbman]

... delete...

Edited by kisacik, 01 November 2007 - 01:54 PM.

[blackcloud]

Hi NAV, did you see something that changed your mind away from your 11:40 post this morning?

100% long with ETFs near SPX 1520 area. Taking a risk of about 1.5%. Stop - daily close below SPX 1505. This is a swing position, not a VST trading position.

Will buy leveraged longs once the 30-min turns up. We are not there yet.

[arbman]

I am also adding my position... Your tax dollars at work...

(securities lending)

[eminimee]

I'm not trying shake you Nav because you know what you're doing...just presenting something else...oex did make a lower low while spx didn't a little while ago....so this may be the abc we are in now. fwiw

http://stockcharts.com/c-sc/sc?s=$OEX&p=15&yr=0&mn=3&dy=5&i=p46143158212&a=89308538&r=712.png

[NAV]

Tea, This is not a leveraged position. So i am willing to take some heat, if the wave C to the downside is pending. Blackcoud, I still think a wave C is pending. That's why i am not taking any leveraged positions here. Since it's a swing trade, positioning is important. What if that wave C to the downside never comes ? I have just seen too many times, when that lower low never materializes. It's the tactical stuff, that's keeps many wannabe bulls at bay. Been a victim of that in the past quite a few times. So jumping aboard the

Edited by NAV, 01 November 2007 - 02:01 PM.

[ogm]

I think there is absolutely no reason for the market to go up. Earnings estimates coming down, economy is questionable. Sentiment iffy. Finanacials imploded after the rate cut. Next rate cut isn't for a while, unless all hells break loose. What is there for the market to look forward to ? Why would anyone rush in to buy stocks right now ? But thats all meaningless stuff of course. However momentum did turn down and internals are horrible.

Edited by ogm, 01 November 2007 - 02:03 PM.

[beta]

If there is a "C" wave down on the way, I doubt we get it tomorrow (Friday). More likely next week. Final target could be SPX 1500, following "B" = 1535.

Edited by beta, 01 November 2007 - 02:14 PM.

[NAV]

I think there is absolutely no reason for the market to go up. Earnings estimates coming down, economy is questionable. Sentiment iffy.

Finanacials imploded after the rate cut. Next rate cut isn't for a while, unless all hells break loose.

What is there for the market to look forward to ? Why would anyone rush in to buy stocks right now ?


But thats all meaningless stuff of course. However momentum did turn down and internals are horrible.

Yes OGM, in 15 days the world turned upside down.

This is an incredibly strong market

I am not mocking at you. But just stating, things always look good at the tops and bad at the bottoms. My IT pivot is at 1480. Above that, i will try to buy every selloff with reasonable stops.

[denleo]

NAV, if I were you, I would buy GOOG. Your wave may or may not come, but GOOG has only one wave. It has no risk. While the rest of the market is down, GOOG will never go down. Denleo