| StockFetcher Forums · General Discussion · Swing Trading Ideas and methods | << 1 ... 66 67 68 69 70 ... 99 >>Post Follow-up |
| 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. |
| Eman93 4,750 posts msg #96720 - Ignore Eman93 modified |
10/4/2010 1:27:10 AM Thanks Walid ... and congrats on the MBA |
| Eman93 4,750 posts msg #96723 - Ignore Eman93 |
10/4/2010 6:15:53 AM USD/CAD on fi-yea.......gap down? GLT |
| 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 ****************************************************************************************************************** I wonder what happen to all the "smart money" that were loading up on puts....sucks to be them. |
| 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........ |
| 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... |
| johnpaulca 12,036 posts msg #96759 - Ignore johnpaulca |
10/5/2010 9:02:01 PM I think one more day of squeeze will be delightful. |
| Eman93 4,750 posts msg #96763 - Ignore Eman93 |
10/5/2010 11:09:44 PM |
| Eman93 4,750 posts msg #96764 - Ignore Eman93 modified |
10/5/2010 11:11:55 PM The green line is about where I went short yesterday and long today.... I did know we hit the 50% fib retrace from last swing low.. but missed the lower channel line... two upper channel lines in play.... |
| Eman93 4,750 posts msg #96765 - Ignore Eman93 |
10/5/2010 11:18:34 PM |
| StockFetcher Forums · General Discussion · Swing Trading Ideas and methods | << 1 ... 66 67 68 69 70 ... 99 >>Post Follow-up |