Although I do not really like to call tops because we are in a major bull market, this market is ready for a correction. Here are my reasons....
No positions here. I'm going on a vacation. Will update it after Jan 3rd.
Jeff: That's not how I trade. Just because this market is in an uptrend is no good reason to "not" have a stop. In the last 4 months it has...
I never short SPY, if I have to short I'll use ES. With regards to SPY, if I'm bearish then I'll go to cash and wait for another opportunity.
I exited with a profit of 1 pt. in SPY. I do not really like to stay with a long position if the Russell and Nasdaq underperform the SP. I have...
Exit: 141.65
Serious Negative divergence between SP/Nasdaq and SP/Russell. Time to get back in cash.
Like I had said, there was no sell-off in the first half hour, I went long SPY at 140.60 and long ES at 1405.75. ES started selling-off after that...
One thing that I noticed today is that my futures trades would have ended up much better if I were not to go against my stock trades. What I mean...
After we broke the intra-day support around 2.30 est, I thought the market would go down much lower. If we do not see sell-off on Monday (in the...
Stop move to 1402.
Daytrading Set-up: If I was day-trading, I would short here (1400) with a 4 pt. stop and close at eod.
Exit: 140.46. No positions.
I initially started this journal as "What I learned from my mentor" but decided to change the title after that. But let me tell you what he told...
200 DOW points or SP? Hope it's not SP, I'll lose a lot of money. If it's DOW that's almost 2% move, it would suck but nothing to write home about.
IWM outperformed SP but Nasdaq underperformed. Will do nothing here. I will give Nasdaq another day to catch-up or else I'll get out.
That's what it looks like, maybe futures is not for me. Or, I could just play futures from the long side as with stocks. I do not think that I...
I'm still long SPY from yesterday. Need to see how today unfolds. If Nasdaq and IWM underperform SPY today, I'm out no matter whether we close up...
Jimmy: You're correct but it looks like we are looking at different things. I am looking at the cash index SP and Nasdaq and not ES or NQ. For...
I have never used pivots. I usually look for the % change. If I'm long and SP is up 0.5% and Nasdaq is up 0.3% only, I'd like to get out. I have...
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