Dropping to 1100 can happen as euro zone CDS are going wild. May result in a selloff that PPT has to act. Usually this type of news shock does not settle until after a cool down / max out emotional swing during weekend. So a Sunday night / Monday gap down to 1100 is not out of the question. This Friday, I am not sure if the option MMs will allow that happen. =)
Philip, match the 60 minute chart up with the 5 and the 15 yesterday around 10 AM EDT and see if you see anything. and does it correlate to the longer term trend?
New Post 08-18-11 09:34 AM Quote from klinckphilip: I have biases 15min Long Hour short day long Not good for trading. I will see you guys later when it looks a little better. BUY1SELL2 What about this-- Long term short, medium term short, hourly short. ______________________________________________________ KLINCKPHILIP Thats why you are the master and I am the newbie. I have had the Daily Long since the 12th. Doesn't mean it cant have down days or even turn around completely. Hourly, I had short until 2:30-3:00pm yesterday. After that was flat for me. Obviously it has gone down over night. Its not a perfect strategy but I am positive about 43.50pts since 8/1/11 according to my time stamp posts. So I hope I can keep it up. I would like to make trades the way you do but I need much more time to build my account before I start shooting for multi-day/week trades. I dont look at the weekly chart at all but I am sure it says SHORT Bias right now.
not proposing multi day/week trades, but just wanted you to look at 10 AM EDT yesterday on the 60 , 15 and the 5. They all reversed there together and trades and stops could have been made on the 5. Day trade short bias came in at 10 AM EDT wed.
Also BUY1SELL2, I shorted what you are talking about. I just did not hold overnight because of one of my rules and the strategy told me to get out.
08-17-11 01:17 PM Quote from klinckphilip: Short - 1201.75 Stop - 1208.25 Out 89.50 _________________________________________ Actually I got out too early. I got out at 89.50. The strategy I use would have been more around 85. I just get finicky when I have more than 10pts that I could lock in as compared to holding longer and it possibly going against me.