Ha ha. Hey Vol, thanks for the chart. That pretty much reinforces my call. If 399.50 holds and trades back through 1400 I'll pull the trigger on the Long ... (but seriously) while discipline demands that I Buy (buy dips in an uptrend), eventually the musical chairs are going to stop. This market is seriously overbought by any measurements of value and/or technical analysis, and what's making it even worse is that every time a serious Bear steps up to the plate they take it on the chin hard ... but for now, that's tomorrow's business. :eek: Best Regards, JJ
You grab those easy 2 J ? 1402.25-1402.50 is the 50% retracement level where I see it failing and a short opportunity.
Nope, but thanks for the info. I was waiting for the move to complete and took the other side. I just wait for my setup "buy dips in a defined uptrend" Regards, JJ
You're a good discretionary trader. I'm a pure systems trader ... if it aint' in my system, I don't take the trade. Holding Long, looking for a little more upside action (and if not, it's just another trade). Regards, JJ
We went 4 under 1403 and 4 above so I took the short also because I have a rule of 2 system that gave a short at 1407.75 over the previous high in the session. So far i got 1.5 out of half and have the stop set at BE in case I am wrong on the rest. If we break next stop is 1410. Did you take the long last night at 1400 ?
These rallies always blow the socks off anyone who is even remotely a perma-bear. The VXO just printed @ 9.65. Who knew. :eek:
No. I just post at night so that in the morning I can take care of my setups and not worry about what's happening with the thread. But thanks, JJ P.S. Right, I remember your rulebook now (you posted it once). I'd rather just ride the trend with my intra-day trades. Sure I'll get stopped-out, and yes I might miss sharp reversals (working on rules for them, though), but the overall picture equity wise is pretty good (just look over the last 4 weeks), and it's a lot less wear-and-tear on the psyche.
R1 - 1409 PP - 1404 S1 - 1400 Market has begun to turn, yesterday's Buy delivered the 1st loss in I don't know how many days. In overnight action the ES is gapping higher, I'll be looking to fade it around R1. Regards, JJ