For "carry-traders"1258 1253 1245 1235 spx 1279 1283 1292 1302
Everybody, please be careful. The benchmark for stocks, or in ENGLISH the short exit point is the high of yesterday. Bear market should not top that next couple days.
13:12 ET, So far uneventful, we like it that way.
25 comments:
Boris
UNG alive with GUS blowing in
Sure looks like a bottom is in
Dear Lag,
ENjoy while it lasts.
There is likely one more drop somewhere in next 2 weeks
Good Trading
THX Boris
lightened up a little on UNG 39.05---now down within my comfort zone
Boris,
Missed the SKF trade by a little, just a spectator today.
old john
FOMC Minutes in 20, maybe some action ahead (or maybe not)
-
Dear John,
Another Train, or BUS
GOod Trading
Dear Sharon,
Thanks.
Did you see the the SHEKEL market responded to raising the rates.
I told you markets speak, when they want to.
GOod Trading
Boris,
You know that is what I practice. This time chasing it would have worked out but that is not usually the case. Bus will be here tomorrow, unless of course we get a great rally today.
old john
Boris,
Do you think the 1260 area will hold today? or wait until another day?
old john
Dear John,
THe best case could be to be able to be short before the 1259 is hit. Now, I never think chasing market is a good Idea, but if good, low risk( how do you know, just know where exit is and the risk is precalcuated) entry. It is worth.
Good Trading
The $CPC is down to 0.89, certainly supports the bear case. Also, ISEE is still above 120, also supporting the bear case.
I think 1260 gets tested in the next hour. Let's see what the market does...
Dear Boris
Yes, i see the SHEKEL is less attractive today.
The Issue with the Shekel is not the direction is its instability (manipulated by speculators) It acts more as a casino than a currency.
You cant do business when a curency goes from 3.57 to 3.44 and back to 3.55 in 5 trading days just for options expiration date.
I have alot of friends who sell services and goods in dollars and this situation is making them crazy. each transaction becomes a casino bet.
no wonder Leman, City and Merril do better here than in America
Good day
Sharon
Dear Blaine,
Thanks for update
GOod Trading
Dear Sharon,
Amen,
It often looks like the entire Nation of Israel, is just bunch of specaulators(:-
Good Trading
Boris,
Looks like we won't get our test today. This week is difficult, too, because of the low volume before Labor day. Hard to say what will happen.
But on the 5-min SPX chart, there is a nice island reversal (Friday was island), very symmetrical. It is also the 3rd lower high in two weeks, creating a new downtrend line. We also broke down out of a rising wedge last week that measured back to the July lows. Friday's high backtested it, then failed. All of this indicates we will retest 1200 in the coming days/weeks. That is when things get exciting...
Better get some popcorn ready for the show. I expect we will see the Texas Chainsaw Massacre. Or Titanic. No way will it be Driving Miss Daisy!
Boris,
Still in No Mans Land. The lower part of it but still No Mans Land.
thanx
Good trading to everyone
old john
Dear Blaine,
Looking forward, whatever the show(:-
GOod Trading My Dear Friend
Dear John,
Good Evening to you too.
GOod Trading
Boris,
Hope you are asleep, question for tomorrow though.
What if the Beast is right?
old john
How about those Cubbies
:)
Well,
Dear D, And John,
I love you both and congrats for CUBbies, but I am not pleased My pirates lost!
I thought I let you know(:-
Good Trading
Dear John,
If beasts are right then we mentioned what our criteria is for resumption of intermediate or permanent bull and that should not happen.
For those with a shorter horizon than that stop should be much tighter and that is the final answer to uncertatinty in the markts.
Stop loss, mental or actual is the final protection.
Where it is depends on the skill trader thinks he/she has.
To me it is very tight few cents, as I think that I can get back in, I am not afraid that market will run away from and if it will, which it sometimes does.
Frankly, I do not care. Second rule of trading(:-
Dear John, Thanks and Good Trading
Dear John,
If beasts are right then we mentioned what our criteria is for resumption of intermediate or permanent bull and that should not happen.
For those with a shorter horizon than that stop should be much tighter and that is the final answer to uncertatinty in the markts.
Stop loss, mental or actual is the final protection.
Where it is depends on the skill trader thinks he/she has.
To me it is very tight few cents, as I think that I can get back in, I am not afraid that market will run away from and if it will, which it sometimes does.
Frankly, I do not care. Second rule of trading(:-
Dear John, Thanks and Good Trading
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