foz, we just witnessed a monster short squeeze. i am still short and holding the system trades. i am long KYPH on a "rumour" and short AZO, and short MSFT. best, surfer
Indeed. From the s1 support to the close and above - woof. According to Market Profile Theory (as I understand it, anyway!) the first hour's action indicvates that todays range will be unlimited in the downward direction. And the Moon's in Uranus -))
MP and all other methods of conceptualizing this action goes straight out the window in this news sensitive environment... UN on right now...
========= Nice downtrends including AZO. Still short mostly . Covered one telecom short late today while the covering was good ; it was persistanty creeping up strongly.
we are holding all positions overnight into tuesday's open with nice nice nice gains. the market appears to be setting up for further down movement. HOWEVER-- as you know, a characteristic of a bear market is severe and violent counter trend moves upward. we may see such a move sometime tuesday. i will be calculating the current neogann channels soon. best, surfer
hi, a gap up against our shorts is very probable this morning. we will be invoking the twenty four (24) minute gap rule. to recap this method --- we do nothing for 24 minutes, mark the high of this period, if violated, we happily close the shorts. if not, we STAY SHORT. this was (is) a great move, and i gladly give up some profits to stay in the curl. the 24 minute high also becomes our go short level, should the market drop back thru after stopping us out. today should be a BLAST ! let's go do what happens, surfer
I have the NAZ futs up 5.50, the S&P up slightly, the DOW futs up 12, Europe placidly up.... So what is the talk about a "gap" rule? There looks to be no gap up this morning. Sure, we may open higher than yesterday's close, but since when did that type of action constitute a "gap" move or "gap" rules? You aren't practicing some new form of TA, and not adhering to GAAP (Generally Accepted Analysis Procedures) are you? If we are still within the range of being short, not trading in the "death" channel, I don't understand your comments. Why not just stay short until the trade is violated for the reasons it was initially entered?
777, i never adhere to GAAP. the rule is instituted to turn the theoretical profits into actual profits. the death channel only refers to entries, i am still working on putting my exit system into understandable lanquage. surf