Sounds like a plan to me. I do expect some follow through tomorrow because of where we closed this afternoon anyway. I think with the beating the has had recently they were looking for a reason to take it up. I don't know if you read any of Romiks post but he was seeing a bullish divergence and so did I the day before yesterday. Good call Romik, you and I knew you were a genius that is all that matters. I guess nobody traded those numbers today but they sure worked like a charm. 4re
QQQQ came through? I am no genius man , an apprentice more like. Check out BLD in silver on Comex, it's been swimming like an iron recently and look how that BLD is developing on daily in the histogram. I don't daytrade silver, only hold it long term, but for the ones that do, I made a call recently @ around 10.20 level I believe with PT of 12-12.50 and stop @ 9-9.50. Actually it's the divergence that triggered the call, I simply spotted it, let's see if catching the falling knife will work out there. Here is a link to the chart. Good night fellas. http://www.futuresource.com/charts/...b=CANDLE&st=BOLL(20,2);MACD(12,26,9);RSI(14);
Good luck on it. I have to say even with all the hoopla about metals lately I have never even looked at a chart for any of them. Yes my Q's trade is working out quite nice right now. If it can move up to 39.50 I am out with a double on that trade. And that is just on the calls. I'll leave the puts on just in case the market pulls back. I still have 3 weeks left on those contracts. If we don't get a pullback and they expire worthless that is ok also since I already doubled on it. Now a question for you, are you still seeing some upward follow through. I am seeing it right now. I see ES getting to 1290-1294 and the Q's between 39.75 and 40.25. What do you think? 4re
OK everybody here are my numbers for tomorrow. I guess nobody traded them today but here they are anyway. Long 1286.50 - 1294.75 Short 1276.25 - 1268.50 Good luck tomorrow everybody 4re
Yep, classic pump-up before the 4th of July holiday (and nope, nobody seems to se'em com'in). With an anticipated narrow range tomorrow, and the holiday falling in the early part of next week, I'm not going to be goofing around with this market too much either. OK, a couple of 4 pointers this week, and while it's nothing to write home about, I'm definitely getting there. A little tweek here-n'-there, and I'll be right on course. Later, Jimmy Jam
There probably will be follow through, as 20 and 200 MAs have been eventually broken on an upward move. On the other hand one has to also ask him/herself - where do I close? S&P is pretty near the high level BB, BUT we had a hell of a cute wide range bar price action yesterday, which in my experience constitutes a continuation by at least 50% of the body range. So, I would say today we will see 1282-83 in the S&P breaking the higher level BB, but as this is just a probability scenario (with medium to medium/high odds) I would trade it with 1/2 maximum position size with no stop, but would scale in on retreat to 20 MA. All oscillators do not indicate over bought ranges, I am referring to daily of course. I did not look, but would expect similar situation for QQQQ, as they are all one big happy family if you look at longer time frames like daily. All the best today, I think it's going to be a good one for bulls.
With the beating the markets have taken recently I think they have been looking for an excuse to drive it up one more time. That's ok though we can go long as easy as we can go short, can't we.