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Thursday 01-10-08


starting longs at the 1403.50 today.in overnight..target will be up near the 1410...lots of numbers here in this 1402 - 1406 range...so perhaps this will cooperate
well, as i see it, the nq is divergent to the es (lower high nq to higher high es) so im betting we go down 'if' the nq is the stronger of the 2 - if not then i bail with a loss and i will have to fight my way back the rest of the day - alho i did take some off so if there is a loss it wont be too bad - im in hope mode now
flat now - seems to me, the nq might go up from here (beginning of wave 3 on a 3min nq) - rather book some than chance it
man did they do that nice today...I guess the fact that single prints where being created down there helped too....
long on the nq with stop in the 1941 with target in the 1955 area (per elliot wave stuff, which im no good at)
so far they sucked in the the overnight highs and lows for the S&P.....everyone getting smoked who play breakouts..seems like the 1410 - 12 area is critical for anything to happen on upside
Hi Gio,

I had a mentor about 10 years ago who called it " Elliott wave -goodbye to your money". I hope you do well on this trade though and nobody gets yours. I could never figure it out and I've never seen anyone who can consistently. It keeps getting marketed. Some vendors like to push the analysis on the 15 minute time frame with it so perhaps ..this critical here as Dow and emini S&P hitting minor resistance..1410 S&P...we may roll over and get back to the day open of 1405 ..we know only one thing...lots of stops sitting at 1406 even...perhaps they will support it for you to get target...crap am i rambling today...lol
quote:
Originally posted by gio5959

long on the nq with stop in the 1941 with target in the 1955 area (per elliot wave stuff, which im no good at)



hmm, maybe i do know a bit more than what i think i shud know bout em elliot waves stuff

hit my target with a buy program - me is a happy camper

quote:
Originally posted by BruceM

I had a mentor about 10 years ago who called it " Elliott wave -goodbye to your money".


Bruce, thats funny

BTW, did your mentor look for these type of setups?

This is what I was looking at. (the abc pattern after a high at #1 got me interested in taking the trade)



[file]nq_elliot_wave.jpg,126,,0[/file]





no he wasn't into fib stuff but congrats to you...great trade and now you will unofficially be known as the WAVE - Master,,,,cool...seriously though ....good stuff..I thought it was cool how they played fair with all of us by taking out those 1406 stops back to daily open too..I just got back from running errands and covered all of position trade from yesterday at 1435.25.

The hardest part for me is "switching gears" during a position trade in that it is hard to switch off my day trading mentality and just let things go....I fiqured if I got away from the house/computer it would help....PIPS your are the man too...if only I had a clue as to what you are talking about...no offense I just can't follow it...I need visuals////charts for my simple brain.....if anyone else has figured out his approach please PM me so I can get clarity and any help you can offer on your longer term stuff would be appreciated.....

Is weekly pivot still coming tomorrow or later today? That would be awesome even if I'm not in it any longer
I'm not sure we are helping anyone with our posts Gio...I've had a few emails with questions but it seems that participation is low..I was really hoping we where going to get a few others to join in with their ideas either as they trade or after the market closes but this hasn't happened...Perhaps everyone has learned all they need to know or they are looking for the "grail" and this all seems too complicated.....

FYI:I was looking at getting out infront of that evil 1437 number as it's been a though nut to crack...we where almost at 300% of a fairly decent IB so I was thinking overextension...did'nt play the short side but just as well...
Good point DT...one of the many reasons I like this place. It's great to know that there are people enjoying and benefiting from the site. I like that it's low key. This place is like the "diamond in the rough"
quote:
Originally posted by day trading



What I've noticed is that participation is something that grows slowly over time and fluctuates in an ebb and flow manner. However, slow and steady usually pays off in the end. I think that we're doing a great job in keeping quality content on this forum and I've received many emails from people stating how much they've learned from here.