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Mr.J-Arthur
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short @ 11369
SL @11367...
hit...bummer. no loss tho.
SL @11367...
hit...bummer. no loss tho.
not ready to go down i feel, so taken a few off....
yes but what did you see at 310-320 or are we not privy to the privelaged information....
was it the the fact that you assumed 400 would be 50% fib and therefore target was 310-ish?
all out 320...cheers guys
Mr.J-Arthur
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Yup, today was kind of boring. I didn't lose any and only took a small profit. Ah, well, tomorrow brings more opportunity (crude inventories, like usual!) :clap:
cheers.
smbtnt,
I was looking for the market to bottom somewhere between 11300 and 11350.On the 1st and 4th of August 11285 to 11340 was the support area and I wanted my stop below this,my stop was 11270. The 11th of August high to the 13th of August low was about 400 points. The 15th of August high to the low today was also 400 points, that's why I was looking for 11310.(matching down waves)
my next major turning point is 10/11/12 of September.This is 233 days from the all time high. I expect a major change in trend.It could be a high or low. I don't think the market has gone high enough in this wave so I think it will be another high somewhere between 11900 and 12100.
The market is not going to go higher because of earnings as they will be rubbish,but if the dollar index gets to 80.00 and Oil down to $100 then we have a chance.
The market is not going to go higher because of earnings as they will be rubbish,but if the dollar index gets to 80.00 and Oil down to $100 then we have a chance.
Mr.J-Arthur
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Breadman-What about a possible fannie and freddie bailout by US gov't? No new highs if that happens...
This would destroy US equities and devalue the USD. I think all markets will sink down to the lows and drop further if this bailout does occur. I think the ES will not get back up to 1290 tomorrow, maybe in the future...DOW will sink lower too, this is a bear market with very few good upward rallies.
here's a tidbit o' news about 'terrible tuesday', " investors, still fretting about the turmoil in the financial sector, received another blow from a steeper-than-expected increase in wholesale-level inflation. "
from here:
Terrible Tuesday - TheStreet.com
Bottom? I don't think we've established a bottom yet on either the ES YM NQ or any US stock index. Anything could happen, and I would seriously consider being on "crash watch" because when the big day comes...these markets will all drop fast, maybe 500-2000 points in a day. That "day" is the day of 2008/2009 crash. I don't know if it's going to happen for sure, but if it does I want to be short banking on every point. Remember Jesse Livermore? He shorted the first depression and made heaps...
Recovery rally on wednesday? Hardly...300 point run up in YM or ES? Hell no. But like I always do, just follow the trend of the day, but I just doubt there's any reason to go long for large substantial profit.
It aint over till the fat lady sings..or until this market rolls over.
This would destroy US equities and devalue the USD. I think all markets will sink down to the lows and drop further if this bailout does occur. I think the ES will not get back up to 1290 tomorrow, maybe in the future...DOW will sink lower too, this is a bear market with very few good upward rallies.
here's a tidbit o' news about 'terrible tuesday', " investors, still fretting about the turmoil in the financial sector, received another blow from a steeper-than-expected increase in wholesale-level inflation. "
from here:
Terrible Tuesday - TheStreet.com
Bottom? I don't think we've established a bottom yet on either the ES YM NQ or any US stock index. Anything could happen, and I would seriously consider being on "crash watch" because when the big day comes...these markets will all drop fast, maybe 500-2000 points in a day. That "day" is the day of 2008/2009 crash. I don't know if it's going to happen for sure, but if it does I want to be short banking on every point. Remember Jesse Livermore? He shorted the first depression and made heaps...
Recovery rally on wednesday? Hardly...300 point run up in YM or ES? Hell no. But like I always do, just follow the trend of the day, but I just doubt there's any reason to go long for large substantial profit.
It aint over till the fat lady sings..or until this market rolls over.
What about a possible fannie and freddie bailout by US gov't? No new highs if that happens...
Yes 230 billion dollars of bonds due by 30 September but we wont know how big a problem this is until a week or 2 before so the market still has a chance of going higher, it also depends on the dollar and oil.
Yes 230 billion dollars of bonds due by 30 September but we wont know how big a problem this is until a week or 2 before so the market still has a chance of going higher, it also depends on the dollar and oil.
i think today should be another down day - oil is higher and other than some short term profit taking, there is no reason for the market to go up - although oil could drop after the inventories.. and also positive asian news over night could lift markets.
I'm screwed cos i'm short on the dow overnight (silly mistake).. so i'm becoming religious until i make a profit!!!
I'm screwed cos i'm short on the dow overnight (silly mistake).. so i'm becoming religious until i make a profit!!!
Trading these markets have become pridictable, for the moment my style is trading the breakouts on SPX & NDX high/low of the previouse day and the globex ranges.
These trades can be put in to place using forex too.
If one were to back test this stratogy the results speak for them selfs.
One one knows what is about to happen next, but one thiung for sure the next trading day will be a within day or a breach of the previouse days high / low apply slightly more risk to these trades as the out come on a % is positive and many people could make a confortable living from these markets.
Crash 2008 / 2009 well lots are looking out for this oppertunity and have the jessylivermore aproach.
Will it happen ? I dought it, the fed & ECB / BOE will bail the markets out as fast as gary glitter can say WHO WANTS TO BE IN MY GANG MY GANG
These trades can be put in to place using forex too.
If one were to back test this stratogy the results speak for them selfs.
One one knows what is about to happen next, but one thiung for sure the next trading day will be a within day or a breach of the previouse days high / low apply slightly more risk to these trades as the out come on a % is positive and many people could make a confortable living from these markets.
Crash 2008 / 2009 well lots are looking out for this oppertunity and have the jessylivermore aproach.
Will it happen ? I dought it, the fed & ECB / BOE will bail the markets out as fast as gary glitter can say WHO WANTS TO BE IN MY GANG MY GANG
Thanks Breadman, I assume a test of 280 is on the cards is likely in the near future for the pump higher, as i see 11900 a certain test...
francisfinley
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its all getting very crude.
at 15.30 GMT in fact.
at 15.30 GMT in fact.
Mr.J-Arthur
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We should at least fall to 11310. That seems likely. I'm not sure if we'll blow through that support though. Just have to wait I guess. I think this could be another day of bears.
Crude is all jacked up and looking like it's holding the highs. That's not good for Mr.DOW.
A crash starting today would be pretty insane...imagine shorting and catching 500-1000 points in the next couple of days! We would be RICH! Haha, this is just wishful thinking, just like how people are wishing a rally (not likely).
Tantra-good luck on your short bro, hope you have some profits.
Good trading to you all!
Crude is all jacked up and looking like it's holding the highs. That's not good for Mr.DOW.
A crash starting today would be pretty insane...imagine shorting and catching 500-1000 points in the next couple of days! We would be RICH! Haha, this is just wishful thinking, just like how people are wishing a rally (not likely).
Tantra-good luck on your short bro, hope you have some profits.
Good trading to you all!
francisfinley
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i would wait until 15.30 gmt until calling judgement - then the next stop is the opec meeting. from here till then its going to be a bumpy ride....
Mr.J-Arthur
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Tantra-good point about global stocks possibly giving US markets a lift today. As for inventories, I have got no clue on that right now...
francisfinley
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i was actually up at 3am GMT - lord knows why and was watching the hang seng go beserk.... hit its low tuesday and went absolutely mental today...
Mr.J-Arthur
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15.30? That's market close, right?
This could get bumpy, but I like a ride. I might not go long or short at the open right away, but I'm on watch ready to jump.
LOL FRANCIS-3AM? Sheesh. I was sleeping...I gotta get my beauty sleep! Feelin' a big groggy right now, but it's worth it. Hang Seng getting bullish? Oh wow it was up nearly 500 points!!! I hope this lifts us.
This could get bumpy, but I like a ride. I might not go long or short at the open right away, but I'm on watch ready to jump.
LOL FRANCIS-3AM? Sheesh. I was sleeping...I gotta get my beauty sleep! Feelin' a big groggy right now, but it's worth it. Hang Seng getting bullish? Oh wow it was up nearly 500 points!!! I hope this lifts us.
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