Hello <b>equitydaytrader</b> question: why don't you use the bear ETFs?? I am bullish right now. question: how long do you hold any 1 position? I am not a day trader, my positions are held between a few days and at most few weeks.
<h3>Think Methods by stockbee.blogspot</h3> One of the most useful thing you must do if you want to be successful in trading or life is to think methods. To be successful trader what you need is a well thought out method. If you want to trade say growth stocks, then you should have a method to find growth stocks. If you want to trade pullbacks, you must have method to find pullbacks. If you want to trade breakout, you must have a method to find breakout. If you want to use stops in your trading you need a method to determine stops. If you want to time the market, you need method to tell you which is good time to enter and which is good time to exit. Read complete article here.
The timing of this move(below) turned to be perfect. I have begun scaling in on the long side. Stock/s I like from today's action: <b>SXCI</b> Cheers!
took profit in ES, selling 20 contracts at 1097 nice 4.47% profit. I am mid-term bearish but still think we will first trade up further. But this move has been too fast too far. I want to re-load the long if we get back down to the upper 1070 levels. In cash on the indexes now. Am long on most yen crosses in smaller size 100k-200k positions. Stop reset to entry level.
==================== Looks like that market thinks-[I agree] health care remains private sector mostly, probably federal takover unconstutional. Big Bank stocks look bearish & have been bearish; silver ,local real estate most trends bullish
<h3>What the Indexes don't tell you?</h3> <u>No. of Stocks above 40 EMA*</u> <b>Fri, 28.May: 21%</b> <b>Thu, 27.May: 27%</b> <b>Wed, 26.May: 10%</b> <b>Tue, 25.May: 8%</b> <b>Mon, 24.May: 8%</b> <u>No. of New Six Month (26 weeks) Highs*</u> <b>Fri, 28.May: 28</b> <b>Thu, 27.May: 19</b> <b>Wed, 26.May: 15</b> <b>Tue, 25.May: 5</b> <b>Mon, 24.May: 8</b> <u>No. of New Six Month Lows*</u> <b>Fri, 28.May: 26</b> <b>Thu, 27.May: 19</b> <b>Wed, 26.May: 51</b> <b>Tue, 25.May: 511</b> <b>Mon, 24.May: 88</b> If you carefully look at the numbers above, you will be able to see markets in a different way. Even though most gains from Thu were given back on Fri as per the indexes. The inside story is that it was a very weak volume day, and the breadth of the market has not necessarily dropped back to where it was on Wed. There is no doubt that the market is moving upwards, but because of its erratic behavior the last few days we will be very cautious and scale in on the long side as and when we see signs of strength. *The stats above were calculated on the top 3000 stocks by liquidity(not market cap).
<u>S&P-500 Daily % Change:</u> <b>Fri, 28.May: -1.24%</b> <b>Thu, 27.May: 3.29%</b> <b>Wed, 26.May: -0.57%</b> <b>Tue, 25.May: 0.04%</b> <b>Mon, 24.May: -1.29%</b> *to help compare for the previous post.
sorry but I dont see the support for your comments. Why is there no doubt that markets are moving upwards? Nothing in Europe is solved I think thats very clearly reflected in the price action. Markets up, Spain downgrade, markets down 2+%. I dont want to make a point to say that markets turn south yet from Monday but price action would clearly err on the side of caution. I dont see how you support your claim that markets could add another easy 4-5% from here. Would you mind to elaborate if you hold on to your belief?
<b><i>Greetings!</i></b> I had a fantastic week-end. A day spent biking, kayaking and hiking with close friends. Hope you all had a nice week-end as well. I am going to try and address <b><i>asiaprop's</i></b> previous post. I would like to make it <i>very very very</i> clear that I am not a speculator. Let me admit I do <b><i>NOT</i></b> have the required skills or hidden intentions to do so. I have no understanding what so ever, about <b>currencies, price of oil, bonds, India, China, Greece, Brenanke....</b>. I have learned to tune myself out of macro-economic opinions. They do not help me make a decision to trade at a micro level. As we learnt from a few posts ago and as you all probably know, everyone has an opinion, which is what we get to see in popular media. Opinion backed with no data is useless. Thus i have spent a lot of time collect and analyzing data. My system, which has taken me over <b>six years</b> to build has the following characteristics: <ul> <li>I run my set of programs at the end of every single trading day. <li>The programs are run on the top 3000 stocks by liquidity(not market cap) <li>This dissects the market like a time series data. <li>The output is a computation of 25 variables on the breadth of the market(daily). <li>This gives me a clear picture as to what happened in the market on a particular trading day. <li>What did the the market look like from that focal point in the past(one year). Imagine that data point to be like a light house or an observation tower. </ul> Let me assure you, pursuit of the holy grail is a futile effort. Look toward building tools or methods that will help you supplement your trading, so that you can keep repeating it. YES! I am a momentum player, but I like to think of myself as a <b>quick reactor</b>. I have gotten my trades wrong quite a few times, but I am right more than I am wrong. And my losing trades are smaller as compared to my winners. Which helps me pull money from the market on a regular basis. Hope this post clears some clouds.... Cheers!