Eman93
4,750 posts
msg #96711
- Ignore Eman93 |
10/3/2010 10:00:13 PM
I know I have been on the wrong side of this move,,, Yes the trend is a trend until it is broken...
If I were long from the bottom I might still be holding some of it... but I am not..
I feel going long at this point is just chasing,,, need to see a bust through technical resistance levels....
Your not getting any sell signals?
I am kicking but in my practice forex account long 500k USD/CAD... LOL.
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johnpaulca
12,036 posts
msg #96713
- Ignore johnpaulca |
10/3/2010 10:15:05 PM
E....no sell signal, not even close, we will get a pullback sometime and I'll be ready for it but until then ride the trend and don't listen to the stock Gurus, they are wrong most of the time anyways....lol.
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Eman93
4,750 posts
msg #96716
- Ignore Eman93
modified |
10/3/2010 11:31:39 PM
USD/CAD is dumping..... breaking Fridays low..... if this holds should see a gap up in SPX..... may go long above 1150... to look for a test of 1170... should get there fast with a squeeze
RUT is a buy above 680 flagging on the hourly char if we btfo... next resistance at 705ish.. lows or highs of 720. all the moving averages are in bull mode...
GLT its a new week.....
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Eman93
4,750 posts
msg #96718
- Ignore Eman93 |
10/4/2010 12:01:38 AM
OK have both sides... should see something happen one way or the other this week.
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Walid
130 posts
msg #96719
- Ignore Walid |
10/4/2010 12:37:48 AM
Eman, Once I finished my MBA, I ran away to Hawaii for 3 weeks to rejuvenate and recharge my batteries. I am back now and hoping to be able to participate here as actively as I can. I am following your work for a while now and I am really impressed with the progress you make.
John, I don’t listen to market gurus and I am not one of them by any starch of imagination. I only try to read the market signals and put my $$ where my thoughts are. Trend following trading methodology is a legitimate one and it has its own axioms with “The trend is your friend” being the most common, and rightfully so. But counter trend methodology is no less legitimate. From trend following point of view I agree with you, we don’t have sell signals yet. But we do have signs of reversal that warn us the uptrend is losing momentum. Reverse signals – as we know – don’t necessarily mean we will change direction immediately. They simply mean that the upward move has waned. Look at the spinning tops near the upper channel line on S&P, the bearish diversions, the light volume, etc. I can’t ignore this engine noise and just continue on driving. If I were holding from the bottom of the last up wave, this is where I would start cashing in and locking my profit and I suspect lots of money managers will do just that fueling some devastating selling.
With that said, I am short only in my swing account and only by a small pilot position. My stop is tight and I am not married to this market. If I get stopped out, so be it. This is trading, and my small losses are the cost of doing business. In my day trading account, I trade both sides of the market based on my day trading setups. Your point is very well taken and I – as always – appreciate your feedback.
Best of luck to all of us.
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Eman93
4,750 posts
msg #96720
- Ignore Eman93
modified |
10/4/2010 1:27:10 AM
Thanks Walid ... and congrats on the MBA
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Eman93
4,750 posts
msg #96723
- Ignore Eman93 |
10/4/2010 6:15:53 AM
USD/CAD on fi-yea.......gap down? GLT
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johnpaulca
12,036 posts
msg #96751
- Ignore johnpaulca |
10/5/2010 4:02:47 PM
johnpaulca
msg #96461
- Edit message 9/23/2010 12:14:02 AM
I don't believe this impending correction is gonna be that bad, time will tell. Market Gurus would have you believe it's Armageddon
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I wonder what happen to all the "smart money" that were loading up on puts....sucks to be them.
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Eman93
4,750 posts
msg #96755
- Ignore Eman93
modified |
10/5/2010 8:40:02 PM
Yes reverse course...... although I lost my gains form yesterday holding short went long UWM when RUT crossed above 778 ish corssing the descending trend line and gave the squezzzzzzzzz.. Looks like we broke out of all resistance on SPX... we should retest the highs... so that means the bitch will gap down 500 points some time this week.... LOL
BOJ.......wtf
I did sell out EOD today ..
I am doing better shorting off resistance with a tight stop... then go long if it reverses... I did miss on the chart the bouncing off the lower channel line yesterday.... would have been a good spot to take profits... brain lock....
Contingency plans people!!!! I do not pretend to know what will happen... HYPE INFLATION currency war trade now back on...
We are all doomed........
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Eman93
4,750 posts
msg #96757
- Ignore Eman93 |
10/5/2010 8:49:52 PM
Now shit folks you gotta admit that was a probable spot to take a short... so shit happens that's how it goes live to fight another day...
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