Monday, June 11, 2007

Limits

Dear Readers Today's Limits
O - not updated, N - updated.
N QQQQ 46.64 - 47.20
9:50 ET Note, Q's strong resist 47.13-47.20
N GLD 64.53 - 65.12
NUSO 4.12 49.2
N ECA 60.51 - 62.64
N SPX 1499.88 - 1511.53
N TSX 13765.87 - 137873.47
10:05 ET Q's formation really bad. Stop above today's high could do it
10:26 ET If you are short congrats. Drop stop to break even or 47.03 mental
10:26 ET Drop stops 46.99 mental
10:26 ET Raise stops 47.01 mental
12:47 ET out. no gain/loss
Jim Taylor, JD said...
UP Wave ends by 09:00 PDT
WEAK WEEK until Thursday
Resistance: 13340.25 1511.26
Jim
6/11/2007 8:47 AM

11:55 ET Attempt same trick. Sell Protect Today's high 47.08 or 47.05(current high, better capitalized traders can protect 47.24 and the long term traders can protect the high 47.80
12:09 ET Low capitalisation traders stop 47.01, no loss
12:26 ET Suggest everybody go to no loss mental stops
Remember Boris's First Commandment, Thou Shalt Have No Loss!
12:47 ET Markets sure know, how to collect our patience, but we will not teach them how to collect our money. Out again.
Possible turnaround time 13:10 +-5 min, Price 47:13. When the price and time meat, wonderful things happen, so said W.D. Gann.
13:00 ET Now Sell 47.13 at 13:00 10c risk
13:09 ET Risk down to 2-3c 47.16
13:22 ET Out again with miniscule 2-3c loss
Jim Taylor, JD said...
Resistance at:
NAZ: 2583.18
NYSE: 9875.39
Jim
6/11/2007 10:40 AM

Jim Taylor, JD said...
DOW struggling with 13456
NDX100 " " 1914.06
Jim
6/11/2007 11:05 AM

15:31 ET. Q's have been rejected at 47.13-47.20 level initially outlined as the main resistance area. We lost 2C and got out. Well, that is the way things work around here. we risk very little and hope to make big. Better capitalised traders, of course, could have taken a bigger risk and be profitable on all 3 trades made today. So, what do we, do. Well, it is clear that we/I can not trade totally open on the net. I do what I have to do, but stay very close to what I tell you, which is ... If you want to survive, you can not risk much. Just keep you risks down and eventually you will make money... So, timing was almost perfect, price was targeted hours before and we still lost money? ( enough to buy one cup of coffe at Starbuks) That is for you to figure. This business,short term trading, is not as easy as it looks, but you have a teacher learn from it.
Good Trading

3 comments:

Jim Taylor, JD said...

UP Wave ends by 09:00 PDT

WEAK WEEK until Thursday
Resistance: 13340.25 1511.26

Jim

Jim Taylor, JD said...

Resistance at:

NAZ: 2583.18
NYSE: 9875.39
Jim

Jim Taylor, JD said...

DOW struggling with 13456
NDX100 " " 1914.06

Jim