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Globex 11-14-08


Hey gang, ive missed ya! First let me say how proud i am of all of you. Hopefully with the tools i have shown you, added to your current arsenal of techniques, you are better traders. It certainly seems that way from reading all the posts every nite! At the very least the cycles and price proj should help, even when your wrong, to keep you from getting burned too badly. And i really mean this, it is an honor to be trading with all of you! I can truly say i have learned as much from you as you may have from me...... Now to the market. It now appears to me that the 45 day cycle bottomed today! I mean what was that , an 800 point reversal in the dow, or 84 handles in the s&p? Havnt had time to study everything yet, but it sure looks that way! Trying to buy maybe 906.50 tho i may adjust after i get the 1 min proj.(none given yet)
Now if your in a long scalp from 901.25 put in a order to exit at 902.75, take your 1.50 handles and run... 1 min (54) avg is 903.00 and so is the minimum 1 min proj. ...if that happens , could we go higher? sure , but who cares! the trick is to walk away with their money!
NOW I BOUGHT 4 MORE AT THE LOWS SO MY AVG PRICE WAS 901.50 JUST EXITED AT 902.75..PLUS 1.25 TIMES 6(OF THEIR MONEY!)
see,i dont care if we go to the next possible proj around 905 or not ,i get out at what i feel it HAS to do at a minimum and a win is a win! $345 ,after commissions ,of their money, so ill sleep better tonite.Also, note how even tho proj was initially 902.75, because you always want to get in at the 'worst case scenerio' thats why i said 901.25 was a better bet...AND it was!
Now ,there are 2 proj up.. 905.33 and 906.25, so IFwe get here and were reasonably overbought on the 5 min chart , then its worth another short scalp.
HMMM, no coincidence that the 15 min boll avg is 905.00 and the 30 minis 905.88.
Kool, i know nothing is 100% but do you have a % that counting bars for swing low / highs works, i seen some that i can't make work, maybe it just don't happen all the time!and maybe i'm just stupid!

Thx
Cj
DOWNSIDE PROJ TO THAT 896 REMAIN ACTIVE,the up proj have now been negated
NO, your not stupid, look, im not always right either! REMEMBER THAT! (SHORT 2@ 901.50) THE 30 MIN CHART SHOWS A DOWN SIDE CYCLE PRESSURE FOR MAYBE AN HOUR YET Maybe it will and maybe not , but since i have much lower price proj now and the 5 min stoch and williams%R are certainly not overbought they did turn back down after rising from very oversold! so what does that tell us? This market wants to go much lower! Remember the first 2 posts i made tonite. AND again on the cycles, dont rely too much on them ,just let them be one guide line
I don't trade the overnight, i don't trust my signals in a slow market, like i said i got a short sale @ 905 tonight but didn't trade it! they can take you out in a nats a$$

See like right now , counting the 1 min bars, i see what, 7 bars with the same 904.00 peak! So which do i use? Ill use the largest count i can! IN other words the 'largest cycle ' possible there roughly 20:29 to 20:47 to get my next mini low. So that would give roughly 6 or 7 min after the hour, that means thats the absoulute latest ill be in this trade.. even if we arnt anywhere near 896 yet! I never get married to any forecasts! Even my own!
akola, Kool is gone till 1 pm