roguetrader
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SOX in ICU 
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mark twain uk
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There is some truth in those sayings, but experience and flexibility have to be able to overide these, take the trend is your friend, you would never sell anyting at the top if you followed this, but then again, how many times would you find a real top, etc. etc.
I found out that fading pre-open spikes produces good results more often than not, so that's what I did today and got lucky (the more you practice, the luckier you get, etc.)
I had to get out because I was a bit overexposed and I also found that when I am out I am able to think clearer
I found out that fading pre-open spikes produces good results more often than not, so that's what I did today and got lucky (the more you practice, the luckier you get, etc.)
I had to get out because I was a bit overexposed and I also found that when I am out I am able to think clearer
roguetrader
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Yeah but then there is a little more to the 'trend is your friend"
The trend is your friend ..but be careful of the bend at the end
The trend is your friend ..but be careful of the bend at the end
mark twain uk
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Karmit,
Why is the dow ugly, beauty is in the eye of the beholder (of a short position)
Why is the dow ugly, beauty is in the eye of the beholder (of a short position)
mark twain uk
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And I am back in from 11990
(edited) and out again at 950, another 40 points, this is one of my better days.
I have a sad record of getting reckless after nice wins and hand all back and then some, so I am flat now and go to the pub for a pint, it must be months since I went out for a pint, a sad case of too much work and no play.
I'll drink to your health.
(edited) and out again at 950, another 40 points, this is one of my better days.
I have a sad record of getting reckless after nice wins and hand all back and then some, so I am flat now and go to the pub for a pint, it must be months since I went out for a pint, a sad case of too much work and no play.
I'll drink to your health.
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mark twain uk
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Pat, you teaser, I am drooling now
Back from the pub and back in on the short side on all 4 (that's a nice turn of phrase) dow, spx, ftse and dax. Nothing too big, but just in case we get a nasty turn before the options expiry are out of the way.
I also found this in today's Telegraph:
"Enveloping gloom in Germany and a surprise fall in US industrial output have raised the risk of a bumpy landing for the world economy this winter, dousing investor enthusiasm on both sides of the Atlantic. Germany's ZEW index of business confidence tumbled yesterday to a 13-year low of minus 27.4, lower than the darkest days of the dotcom bust."
A 13-year low of minus 27.4, lower than the darkest days of the dotcom bust!!!
Fancy the news only telling us how the stock market hits high after high, you don't get to hear the bad news, and of that there is plenty. More from the article:
"The new wariness on Wall Street threatens to snuff out the euphoric rally that has taken the bigger stocks to record highs this autumn.
Frankfurt's DAX index fell 1.15pc. Figures released this week showed that top insiders at German firms have cut back sharply on purchases of their own company's stock, a clear sign of a market peak. "
Back from the pub and back in on the short side on all 4 (that's a nice turn of phrase) dow, spx, ftse and dax. Nothing too big, but just in case we get a nasty turn before the options expiry are out of the way.
I also found this in today's Telegraph:
"Enveloping gloom in Germany and a surprise fall in US industrial output have raised the risk of a bumpy landing for the world economy this winter, dousing investor enthusiasm on both sides of the Atlantic. Germany's ZEW index of business confidence tumbled yesterday to a 13-year low of minus 27.4, lower than the darkest days of the dotcom bust."
A 13-year low of minus 27.4, lower than the darkest days of the dotcom bust!!!
Fancy the news only telling us how the stock market hits high after high, you don't get to hear the bad news, and of that there is plenty. More from the article:
"The new wariness on Wall Street threatens to snuff out the euphoric rally that has taken the bigger stocks to record highs this autumn.
Frankfurt's DAX index fell 1.15pc. Figures released this week showed that top insiders at German firms have cut back sharply on purchases of their own company's stock, a clear sign of a market peak. "
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Charlie Miller predicted this rally on August 30th (wish I'd taken him seriously at the time)
He is currently saying:
"My work on transient analysis suggests that we are now just beginning the rollover at the top for this 3 month bull run. That is, we should see a higher high than today's (Wednesday). On a chart this should look like a pretty sharp pivot. We are in the qualitative zone that I called last April. It looks like we may hit the Happy Face (His 'Happy Face' target was 12100)
Last summer I began to suggest, contrary to most of the popular Guri thinking, that the sad song of September to mid-October was going to be different this year. We've now come to the end of this year's box, and indeed, it was different. People just would not embrace this bull run. Most of the TV Guri are extrapolating this year's run to the end of the year (end of Q4). I'm not."
So he is now expecting markets to turn down very soon !
He is currently saying:
"My work on transient analysis suggests that we are now just beginning the rollover at the top for this 3 month bull run. That is, we should see a higher high than today's (Wednesday). On a chart this should look like a pretty sharp pivot. We are in the qualitative zone that I called last April. It looks like we may hit the Happy Face (His 'Happy Face' target was 12100)
Last summer I began to suggest, contrary to most of the popular Guri thinking, that the sad song of September to mid-October was going to be different this year. We've now come to the end of this year's box, and indeed, it was different. People just would not embrace this bull run. Most of the TV Guri are extrapolating this year's run to the end of the year (end of Q4). I'm not."
So he is now expecting markets to turn down very soon !
catracho
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Also Rick Ackerman (long term bear) (www.rickackerman.com) - has been predicting a rise in DOW to 13045 (precise target!!)..interesting free daily commentary, today's titled " No sellers left?"
mark twain uk
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I love the smell of napalm in the morning! My shorts last night were an inspired trade.
Morning all. Well over 12000 we went yesterday. This bear is considering hibernation! In fact, this bear took a cheeky long at 11977 last night. Hoping for a run up to 12100. After that, who knows. I'd be nervous about taking any more longs until after we have a decent correction.