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However I'll be watching closely bearish ABCDs on the way up since long term questions remained unanswered yet:
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JA
jarek
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ES closed strong and looks good for a strong start of the week:
However I'll be watching closely bearish ABCDs on the way up since long term questions remained unanswered yet:
However I'll be watching closely bearish ABCDs on the way up since long term questions remained unanswered yet:
JI
jimkane
Rep: 3,058
Posts: 33,089
Ex-aaaaaaaaaaaaact-ly.
Originally posted by jarek
We may say that Jim's reputation number is ruling ES now
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jimkane
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Why 99 there, Jim? What's there? An obvious, and key, .447. Just watching it.
Originally posted by jimkane
Okay, watch this 99 here. This may be it.
JI
jimkane
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So, they want to close cash right at the critical area, with it looking like it could go either way? Really? That would be a surprise.
JI
jimkane
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I normally don't 'root' for the market, but I am like a football fan here, cheering this on to dump...
Originally posted by jimkane
I so would like this to roll over...
JI
jimkane
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BTW, I think my 'track record' when I 'root' for a move is like 99% wrong. Just a thought.
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jimkane
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A snappy little explosion, but they close cash right in the dead zone between both possibilities. How cool. Well, sorry for all my ramblings, just trying to give some thoughts for the ES daytraders in here. Everyone else seems to cover the other stuff pretty well. Thoughts on things coming momemtarily.
JI
jimkane
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Posts: 33,089
Here's some thoughts/follow up on things I've mentioned recently.
-Gold did go up to my key area I mentioned, as I suspected it would. That in no way implies to me I want to short it in here (although we know the countertrend traders will, and many will make gobs of money), only that a key area has been reached. Now I see what it does. This is an overlapping of both a shorter-term and an intermediate-term area.
-TNA did set a new low after its bounce, much like SLW play did if you invert it. If you do the work you will see the high from the bounce was just about dead on a very obvious key area. It is now about two dollars from the area I mentioned initially, which is rising because if the upsloping lines. But, whether that area is reached depends on if the ES/market rolls over or not. As I said, the timing factor wasn't a big part of my interest in the lower TNA area, so I don't care when it gets there. Likely the market is done going down here and it will never get there. But you can 'feel' the draw.
-The ES rolled, like clockwork, off the key .886 ABCD area I discussed. It was a monster line convergence area, with at least four key lines coming together very tightly at that .886 ABCD. It set up nicely on Friday, and again in Sunday night GLOBEX. Do the work, it was amazing. And, lo and behold, in the direction is was already moving, S&P downgrades and gives to reason the go with the flow. If they hadn't done that, I suspect it would have just ground down. And if they downgraded when it was in buying frenzy mode, they likely would have ignored it, or dropped it a little and then gunned it up and over. And likely they'll ignore this and gun it up and over anyway.
The put setup is doing reasonably well, but it is so hard to bet against this thing for any length of time, it's tough to hang tight in here and see all gains eventually disappear. On the other hand, is the play a quicky countertrend back to the first area, or a bigger setup for a longer-term sell off and 'risk off' scenario? That tells one whether this play was over this AM, or in 'tough it out and see' mode, which requires a willingness to 'give it all back', and maybe even then some. That's where this one sits.
-Gold did go up to my key area I mentioned, as I suspected it would. That in no way implies to me I want to short it in here (although we know the countertrend traders will, and many will make gobs of money), only that a key area has been reached. Now I see what it does. This is an overlapping of both a shorter-term and an intermediate-term area.
-TNA did set a new low after its bounce, much like SLW play did if you invert it. If you do the work you will see the high from the bounce was just about dead on a very obvious key area. It is now about two dollars from the area I mentioned initially, which is rising because if the upsloping lines. But, whether that area is reached depends on if the ES/market rolls over or not. As I said, the timing factor wasn't a big part of my interest in the lower TNA area, so I don't care when it gets there. Likely the market is done going down here and it will never get there. But you can 'feel' the draw.
-The ES rolled, like clockwork, off the key .886 ABCD area I discussed. It was a monster line convergence area, with at least four key lines coming together very tightly at that .886 ABCD. It set up nicely on Friday, and again in Sunday night GLOBEX. Do the work, it was amazing. And, lo and behold, in the direction is was already moving, S&P downgrades and gives to reason the go with the flow. If they hadn't done that, I suspect it would have just ground down. And if they downgraded when it was in buying frenzy mode, they likely would have ignored it, or dropped it a little and then gunned it up and over. And likely they'll ignore this and gun it up and over anyway.
The put setup is doing reasonably well, but it is so hard to bet against this thing for any length of time, it's tough to hang tight in here and see all gains eventually disappear. On the other hand, is the play a quicky countertrend back to the first area, or a bigger setup for a longer-term sell off and 'risk off' scenario? That tells one whether this play was over this AM, or in 'tough it out and see' mode, which requires a willingness to 'give it all back', and maybe even then some. That's where this one sits.
RO
roofer
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we have entered a time that is the hardest for me to trade... with notable relative weakness in some indexes and having to be both long and short at same time.... the price action in AAPL said that the 320 level was being bought... but how to set a stop? because for the time being AAPL still drives QLD, it seemed worth the risk to try to get on board at ..886 on gap box and be willing to be quickly stopped out if wrong, but to ride it as long as AAPL KEPT GOING...OUT AT CLOSE...
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jimkane
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I think it may head for the lower //, not even the ML. I've been thinking 35 since forever. Understand, though, this is really just an index against the Euro, which is by far the heaviest component. If the DX was going up, and the dollar going up against all currencies, the buying power of the dollar could still be going down, even rapidly.
All I care about is the buying power of the dollar, and if you look at gold, silver, oil, foodstuffs, cotton, etc., you can see what is happening to my buying power. This is true in all currencies, even the powerhouse Aussie. It's just losing buying power a little slower as it rises with respect to the dollar. All fiats are on their way out. Do they go together, or do they fall one by one in big explosions...
All I care about is the buying power of the dollar, and if you look at gold, silver, oil, foodstuffs, cotton, etc., you can see what is happening to my buying power. This is true in all currencies, even the powerhouse Aussie. It's just losing buying power a little slower as it rises with respect to the dollar. All fiats are on their way out. Do they go together, or do they fall one by one in big explosions...