COMMENTS: I expect the market to be down hard today. Yesterdays impressive 340 point turnaround in the dow had a negative advance- decline! Although i suppose i could claim victory at the achievement of my long sought after 1210-1211 being hit(1211.25 basis sept.)I just dont see the signs of a real tradable bottom. The vix never made it past 26.25 and on a good bottom it should spike over 30. Im expecting a general trend up into the election, since this whole bear market we havent tested the 200 day mov. avg.(currently at 1350) even once. So has the 45 day cycle bottomed? have we started our expected rally? Time will tell, but one last thrust down would not surprise me.
out with 2.75 handles... up 13.25, and a record 54 for the week!(for me anyway)
kool that is a great record!
that is pretty cool indeed.
Great trading Kool!! The 43.5-49.5 singles filled. FWIW, we also have singles from 52.5-54.0 from yesterday (a selling wick at the close) and 55.75-59.0 from the 9th.
Im thinking of detailing exacly how i trade this weekend.Its deceptivly simple. Im a very private person, so its hard for me,but my record over the past 4 weeks speaks for itself.
selling one @ 1255.50
short one 1255.50, tight 2.5 stop... exit as close to 1252.5 as possible
Reasons: the 5 min. and 15 min. are finally overbought. though neither has given a sell signal yet
Also, upside projections from 1234.50 on the 5 min. and 15 min. were met(1255.5-1256.5). be advised a spike up to 1261 is always possible, but acouple point decline should happen here
out at 1252.50 plus 3 handles, up 16 today..FORlonger term folk be advised the 5 min. just gave its sell signal as i was typing.
I agree Bruce. I work a full time job and do trading only on the side since I am still learning the ropes. All you guys have so many great ideas but usually I have to sort through the trading posts to try and learn them. I know that all of you are busy trading in the day but even if you can impart some knowledge at the end of the day in a separate thread, it would be very useful to novices like me.