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creekboy

Registered: Jun 2010
Posts: 367

05-04-12 08:43 PM

remainder to stay long thru sunday -stop moved to 1361.75 -hope everyone has a great weekend

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Laissez Faire

Registered: Sep 2010
Posts: 4153

05-05-12 10:57 AM

Lesson for the week:

Don`t go short when we`re in the process of filling an up side gap and don`t go long when we`re in the process of filling a down side gap.

The exception is of course when price has clearly demonstrated that it has met resistance or found support. Otherwise, gaps are magnets and usually closed out if other supporting parameters suggests so.

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ammo

Registered: Feb 2007
Posts: 18258

05-05-12 06:00 PM

don't go short into the end of month,' 1st of the month and don't believe the 1st of month rally will carry,especially in may

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tomahawk

Registered: Apr 2007
Posts: 1952

05-05-12 09:51 PM

Quote from tomahawk:

Possible right shoulder forming.

Update... (freakishly classic).

es h-n-s.png
This has been downloaded 65 time(s).

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austinp

Registered: Apr 2006
Posts: 3079

05-05-12 10:00 PM

Quote from ammo:

don't go short into the end of month,' 1st of the month and don't believe the 1st of month rally will carry,especially in may

how about don't go long in falling tapes and don't go short in rising tapes?

how about buying uptrends and selling downtrends in strategic, unbiased, objective-neutral fashion?

that simple approach makes money in any market

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creekboy

Registered: Jun 2010
Posts: 367

05-06-12 01:52 PM

how about calling the closing stop to 1 tick on a friday after noon -play the odds--

stop moved to 1361.75

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