JI
jimkane
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Posts: 33,089
Thanks for starting it, Marcin. Should be another interesting week. Recall I said there was a good chance the 'bull' would end in January, timing factor-wise, but also April was a secondary timeframe. I almost wonder, then, if this isn't burning up time in preparation of something big. Then, again, Armstrong may be right, and it doubles from here into the fall of 2015.
JI
jimkane
Rep: 3,058
Posts: 33,089
Just got up and checked my long side bias setup, and it's smokin'. I was going to post right as they shook it out into the area, but I just didn't feel like it. I'm kicking myself now for not doing it. So, take my comments with a grain of salt, being after the fact and all. But, I did mention this exact scenario, timing and all, to a student on Saturday. So, they swept the stops down, and now we see if they sweep them up, or if it just keeps blasting up. I think the odds favor the continued blast up. I'm ready for whatever, though. Talk about the ultimate cushion play. Anyway, the big question is, does it stop around 51, or do we truly get a big play, reaching for say 61-64 by tomorrow (basis June). That would be up 40 off the low in under 24 hours. It may do it... Back to bed.
BTW, this is sitting at a key area here at that 45.75 high, right at the high of the range. Interesting, but I can't imagine it rolling over here. Still, there's always the 'better prices in the AM' thing to watch for...
BTW, this is sitting at a key area here at that 45.75 high, right at the high of the range. Interesting, but I can't imagine it rolling over here. Still, there's always the 'better prices in the AM' thing to watch for...
RA
rat89
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Posts: 7,015
either they bust it up or reverse hard somewhere around here:
Click image for original size
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jimkane
Rep: 3,058
Posts: 33,089
Big pop off the open to continue the expected move, where it now sits between my two main areas. This does not appear to be a random chance, though, as my mentor students will see this frequency here almost to the tick. So, it makes sense why it it stopping here. Why this doesn't line up well with the two levels I posted is a topic for another time. Anyway, it's been mostly range trading/chop in a narrow range since, only good for very small scalps for those inclined to that. As far as how it sits now, timing-wise, it should be deciding soon, and is primed for an upside 'breakout', but gosh, it should be tired. In 'the old days' I'd say it's time for it to come in substantially now. Nowadays, who knows.
