yeah! holding longs in DJIA proves itself to be correct move thus far. holding once again into friday. holding oil shorts. surf
Wow, we just had a 100 points reversal premarket after 8:30. The Dow futures rallied up 40+ points then 20 mins later a sudden change and currently down -55. I wonder Surf, do you ever exit not during the usual trading hours? Or is the liquidity too low for you?
i don't trade during pre-post market. the NFP numbers also shocked the dollar into a quick decline, but its recovering nicely currently. holding DJIA long here. surf
maintaining longs in DJIA despite the quick selling this morning. i am actually expecting an up close in the dow today. reactionary shortterm selling is rampant, but it is my conjecture that those who hold during the intraday volatility will be rewarded nicely. have a great weekend! surf
thats it, closing longs going flat for weekend. today's analysis--obviously wrong. will report back with stats asap. surf
That was posted on 6/29 and eventually you took the profits pretty much at the same level (congratulations, by the way), although the position was almost 200 points higher several times. Bad, bad boy!!! My reasoning to take the profits at the higher levels were: 1. Dow advanced 500 points without a decent pullback 2. We hit the upper BB. 3. We had a triple top/head and shoulder formation. 4. Island reversal 2 days ago. 5. The Augur said so... Those were quite a few warning signs. But hey, you made money, so enjoy the weekend!
Plus there were a couple of days which showed strong selling with the TRIN blasting away, while the market was holding a tight range (often signaling a change in trend, not resumption of the old one). That must be one hell'uva proprietary trading model/system ya got there, Boss. Later, Jimmy
10997--11227 is the death channel on the DJIA for this week. the wide nature seems to linked to the recent volatility there is a very unusual potential basing structure appearing on the daily chart with resistance at 11223. i have no bias or reading on the market for this week. will take all system signals. flat entering monday. surf
You know: I was really "feeling your pain" on Friday. You have a framework, and you bet on it, and then the whole show moves south on you. We have all been there I am sure. And so I guess I am surprised, remembering that you sold one of the best TA books ever written just recently saying you didn't need it any longer. From my point of view you would have done better to review it a little bit to see if there was anything in there to help you. Whenever I am confused I like to look at longer time frames. It seems to help me to put price activity into a useful context. Here is the YM using weekly candles. What you can see from this chart is that 11000 served as resistance for most of 2005 and as support recently.