Tuesday, July 07, 2009

One more test down?




I believe we could get one more probe down into the area of 870, before some kind of a rally develops in stocks.

25 comments:

xerxes said...

I believe we could get one more probe down into the area of 870, before some kind of a rally develops in stocks.
-------------
Not much of a retrace transpired in EURUSD before the next leg up is to commence it seems...

boris said...

So, far, you are very correct Dear Xerxes,
Good Trading Dear Friend

xerxes said...

Dear Boris...When you look at the 30 minute chart of S&P there is a real nice H&S with a completed right shoulder...Same for the DOW...Maybe antidollar will have a rough patch for a week or two before they gain composure and crush the buck with late month turns....

boris said...

Dear Xerxes, scenario can not excluded.
This upcoming turn may prove feeble and we may get exactly what you are talking about into the nexet turn

Good Trading Dear Xerxes

xerxes said...

Maybe Dear Boris...Tricky came out with pro-dollar comment on Sunday, to, I suppose, check Euro bull animal spirits for the time being... We have a G8 meet tomorrow. If Tricky wanted traders to grind the buck into the pavement, why come out with a supportive statement a couple days prior? So your 'feeble turn' posit sounds very plausible to me...

boris said...

I have updated the DotNet Market Report Page.
Please note and read

Thank you Dear Subscribers

Good Trading

John said...

Boris
good morning

old john

Wanderer said...

Dear Boris,
Good morning.
Good trading.

Bert

xerxes said...

Dear Boris...What you say on dotnet doesn't conflate with DP chart :-)

xerxes said...

I saw another bank predicting EURUSD to return to 1.25 area by end of the year...With so many predictions of a resurgent USD, makes me wonder if there are not boatloads of stranded longs, who seek solace in their losing positions, by grasping for these pseudo noetic pronouncements from market gurus, as they sail down the river of hope, watching EURUSD move ever higher....

boris said...

Dear Xerxes,
DP chart is possibly offset a bit and with congestion can not trusted places.

Good Trading Dear Xerxes

boris said...

Good Morning Dear John
Good Trading my very Dear Friend

boris said...

GOod Morning Dear Bert,
GOod Trading My Very Dear Friend

boris said...

Dear Subscribers
5Min APs
On DotNet

Good Trading Dear Subscribers

boris said...

If you were trading short term only,
Please take all profits now!

boris said...

I mean, if you followed emini graph and took short positions.
Please take most/all profits . that is what I wanted to say

Good Trading

John said...

Boris,

GDX

old john

boris said...

Dear John,
Thanks,
I have no problem with GDX,
The names I mention though are more like on the Junior side and that is the way I like it at this point, but GDX makes it easier even as it is not exactly how I would like to be positioning at this point.

Considering small size of positions though , It really does not matter at this point.

Thanks My Very Dear Friend John

John said...

Boris,

thanx- you know I like to be a little cautious and patient.

old john

boris said...

Actually , Dear John, Thanks
For a small account it is much easier to deal with ETF even if not precisely what is needed, because it is not easy to buy and sell 5-10 stock portfolio. Costs are involved for sure.

Thanks again for a good alternatvie for a smaller investor

John said...

Boris,

GDX is doing ok

thanx

old john

boris said...

Dear John,
I did not plan it that way.
We are starting to nibble.

We actually would like it to go down a bit more to buy more(:-

Good Trading My Very Dear Friend

daveo said...

Dear Boris, thanks for the 3rd consecutive winning short trade. I closed out yesterday, a little early, but green. Thanks for the dollar forecast on the .net site. Now if I could sleep on a long trade : )

Good trading, Daveo

boris said...

Dear Dave
ENjoy, My Deaer Freind

Nothing can make me happier than
My subscribers being successful
GOod |Trading Dearest Friend

boris said...

Has anybody noticed that the low overnight in EMINI is a 100% BULLs EYE on the 4th daily low attraction point (DLAP) on the emini chart we send to our subscribers!

Hellelujah!

Good Trading