Sweet trade!!
Good weekend to you too.
This is a bottoming process
Started by
denleo
, Nov 02 2007 01:44 PM
13 replies to this topic
#11
Posted 02 November 2007 - 03:04 PM
When I see an adult on a bicycle, I no longer despair for the future of the human race. ~H.G. Wells
#12
Posted 02 November 2007 - 03:18 PM
Tea my man, you keep right on posting your trades, I like your action!!
out of half at 5.50 so far.. 5 still there...somebody want it for 5.50 lol
edit..last 5 went for 5.90...not bad return in less than 30 min. Good weekend all.
#13
Posted 02 November 2007 - 05:06 PM
For weekend study, one could take a look at the April 2005 bottoming process after the Delta Hedge OPEX melt down. Patterns (Fractals?) are never exactly the same, but it is a good road map to keep in the back of your mind. Note: There were two bottoming periods in that time frame, so we are still in the early part of the decline or we have already put the retest low in today. On stockcharts, just change your charts to the 60 minute period and the match is a little more visible. Have a good weekend. The week before OPEX is next week, and sometimes the low occurs the Friday two weeks before expiry.
#14
Posted 02 November 2007 - 05:44 PM
For weekend study, one could take a look at the April 2005 bottoming process after the Delta Hedge OPEX melt down.
Darris, do you remember this? I kept going back to it here, and so far it's been accurate...
In fact I actually wrote to my partners privately that these two delta hedge meltdowns have the same finger prints in many time frames too except for one difference, the growth stocks such as NDX were extremely lagging back then. I told last year (last summer) that the only way the market can avoid a deep bear market was if the tech could take the lead from here. It was the correct call, although I even had my doubts about this...
Let's see whether the tech will manage to pull the financials from the wreck they are in...
- kisa
PS. one factor that I didn't recognize was how the Fed kept the currency devalued to keep the indices at the higher end of the trading range with the new highs. They will keep doing this until their new liquidity injections start showing their compounding effect...
Edited by kisacik, 02 November 2007 - 05:54 PM.