We did buy & sell programs on the imbalances on triples but thats anotehr game.......not sitting & predecting the markets ..........this is what i was refering to.........nothing more ........I was asking WHY waste time predicting the trend in a trendless market in holiday trading enviorment & triples to boot thats all, but we cleaned up on the programs we did, .....I dont see any reason to fight a trendlines thin market thru the holidays......the right is higher & to me its not a ideal condtion thats what I was trying to say, if you want to position yourself short & feel Froggy JUMP away BUT I see no reasion to be long or short in here in athe middle of a trading range, I dont need to be first on the train up or down....just want to take a part of the trend not try to predict a move in a sloppy enviormrnt........Chartwiz
Now I'm learning something from you, thank you. I guess the bottom line is this, I think Friday's gap up rally was the last, very small window to short this market into strength before we get some violent downside action. That is strictly my opinion, and based on that assumption, I have to anticipate the direction at a very minor scale and use what liquidity I can to position. Now, if the above speculation does not "jive" with your approach to the market, which from the sound of it, you have a completely different strategy than I, then it's silly for us to be arguing. If you're strictly a short-term scalp trader, or fractional day trader, then you should listen to chart. This is a horrible market. For position traders, IF you think the market is going to dive, I'd like to know about it. IF you think the market's going to spike, I'd love to know about it. IF you think the market's going sideways, chart beat you to the argument. Pej.
No, I am not just a daytrader...I am a swingtrader & take larger positons both long & short..........I just dont see the point of trying to be first on line for buy or sell in the middle of nowhere.........no trend no direction.......... i just rather wait for confirmation UP or DOWN before commiting money to the market........looking at the attached chart of the SPY....you could see its easy to make a case for a break UP or DOWN based on the consolidation its in the last few weeks....is it contracting waiting for new leg up ? or is its toppy & upside is done ?...........If the markets break to upside...I would work buys.......if breaks to downside...I would work shorts............. I dont think shorting in here in a range that is not giving us a direction is the wisest thing because you want to catch the move should it gap down.......it could just as well gap up no ? & have an adverse move against you & you become a net loser rather then waiting for the markets to give you a signal up or down...........not arguing just making my point on why I would not be long or short the market................Whats your technical reason to be short here other than you want to get in before a violent move down ??? Chris I agree with your thinking BUT at this juncture with holidays & all I am waitng it out....here is something I did in about a week ago http://www.stocktrendwizard.com/si01.htm so i see the reason to be short at that time...but since it went sideways & not back down.....I tend to become susupicious in a range......BUT I am agreeing with you, major resistance above JUST more cautious in a range in holiday season....CHris
**Administrator's Note** Since this type of thread has a lot of file attachments, let me just make a quick suggestion to those of you who are uploading screen shots. If you go back and look at some of the pics included in various posts throughout this thread, you'll see that the the .gif files are very clear and precise, while the .jpg files look to be a little muddy or hazy. Since charts typically have less that 256 colors, they are best captured as a GIF file. The JPG file format should only be used for images that have thousands of colors, like photographs.
Besides guys, we don't predict, we react. We take what the market gives us {either long or short} I'm with Chris, taking Christmas week off. I'll start off the new year all fresh and rested up. Happy Holidays.
Another suggestion is to paste your chart from whatever program into a word document. Then convert that document to a ".pdf" file and post the pdf file. It makes it a MUCH smaller size file and very clear. chartwiz, I will post my analysis shortly. Thank you for asking....
The following link will take you to research written for the current market environment, and for those of you wondering what's behind my market opinions, this should help you understand. Chartwiz, I look forward to your views... I would have attached the file to this post, but for some reason, the size limit for pdf files is only 105K (I think they forgot a zero), and the file itself is 350K. So I stored it on one of my own servers so you can just link to it by using the following: http://www.egoose.com/elite.pdf
t: 12/21 12:38 Insider trades in the last 6 months, no trades indicated by -. ARBA SELLING BVSN SELLING CMGI SELLING CNET BUYING COMS - INKT - LVLT - MCLD BUYING MFNX - NOVL SELLING PALM BUYING PMTC SELLING RNWK SELLING
All your charts look great with all your analysis.........Personally I didnt read it all.........you could make a case for buy or sell side & make it look good.........Your leaving egoose.com to start working with a hedgefund..........great.....but you know that when you start working there, its different to make charts & voice an opinion than to put up 5 million or 20 milion in the middle of no where, when real money comes into play all your opinions mean nothing if your wrong....agree ?......This is why I have NO opinion in here...........Why would i commit X $ in the middle of a range that looks toppy but looks as if it could continue ?.........Maybe when you trade real money with the fund, the first thing that will come to mind is understanding risk......I have a larger acct I work with & I would not RISK a dime here before the new year is started.......the last thing I need to do is commit money short overnight & have big gaps against me because it was a 50 50 shot ...............So lets consider your short,,,,,,,,and maybe you are witn your money............ where would you consider to cover your shorts based on the SP cash ? Or what would you use for your exit stratagy ?.............I am not saying I disagree with your thinking at all.........as a matter of fact I would be more short than long here BUT the risk is to great to pick a direction BUT that is me........I would not commit overnight funds ....I would wait for the dailys to break up or down & work it from there & keep exposure low, plus if I need to be the first person in the trade or trend, then I am a gambler not a trader, I rather be patient & let the trend tell me where to commit capital....................Merry Christmas & Wish you all the best with your new venture in your hedge fund........Chris