Tuesday, August 26, 2008

Attraction Points(Apoints) COMING UP

My Apologies to the Australian and British Readers and Readers all across the world, for letting the disaster come onto their currencies versus Dollar(:-, Especially hurt are the AUD/NZD/GBP all the currencies that were "played and managed" 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:

lagscrew said...

Boris

UNG alive with GUS blowing in

Sure looks like a bottom is in

boris said...

Dear Lag,
ENjoy while it lasts.
There is likely one more drop somewhere in next 2 weeks

Good Trading

lagscrew said...

THX Boris

lagscrew said...

lightened up a little on UNG 39.05---now down within my comfort zone

John said...

Boris,

Missed the SKF trade by a little, just a spectator today.

old john

sharon said...

FOMC Minutes in 20, maybe some action ahead (or maybe not)

sharon said...

-

boris said...

Dear John,
Another Train, or BUS

GOod Trading

boris said...

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

John said...

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

John said...

Boris,

Do you think the 1260 area will hold today? or wait until another day?

old john

boris said...

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

Blaine said...

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...

sharon said...

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

boris said...

Dear Blaine,
Thanks for update
GOod Trading

boris said...

Dear Sharon,
Amen,

It often looks like the entire Nation of Israel, is just bunch of specaulators(:-

Good Trading

Blaine said...

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!

John said...

Boris,

Still in No Mans Land. The lower part of it but still No Mans Land.

thanx

Good trading to everyone

old john

boris said...

Dear Blaine,
Looking forward, whatever the show(:-

GOod Trading My Dear Friend

boris said...

Dear John,
Good Evening to you too.

GOod Trading

John said...

Boris,

Hope you are asleep, question for tomorrow though.
What if the Beast is right?

old john

D said...

How about those Cubbies

:)

boris said...

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

boris said...

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

boris said...

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