Der James, If we trust the "how do we get there" picture, perhaps not, but knowing how fast you are, you maybe able to make it work. Frankly, shame on me, I become half useless when I leave my site. I think that this move up has 24 to 48 hours shelf life and perhaps 1% in (QQQQ) size. Considering we rose already and I am half useless, if you do it you will not have full(or fool ) myslef to work together. Still your ball Dear James. I, myself, seem to resist this idea of going long, even though, I can not see how this elevated buy-pressure level will dissipate without QQQQ having move up in here. Good Trading Dear James. Good to see you today everyday, Happy and Prosperous 2007 to you my sother USA friend. How about Dolphins this year man? Seem like they only come to play when my Steelers Do...
Thanks Boris and I wish you and your family the finest in 2007 also. My system is saying buy but we are obviously in a trend down and should be ignored I think. Im having a little trouble here. I havent seen a down trend in so long I can hardly believe it. This looks like the real deal. Sorry I dont follow sports... Im more of an outdoorsman type {hunting,fishing,canoeing etc.} But I hope all your favorites win. Best Wishes JC
Dear Cobbense, Bloomberg says. EUR Curncy 1.3203 +.19% +.0025 Up a little bit for today. In USA trading. Euro is topping for sure, but I see good chance for 136/137 before the top. GOod Trading.
Dear James, Ok When you teach me fishing, I will teach you sports (: :). Besides is not fishing the best sport there is? Yes, I agree James, hard to believe, right? And yes when the trend looks down one( like you and me ) think twice before taking long positions. Spoken like a true trader. GOod Trading
I started shorting the NDX back in the beginning of Nov. at 1742, added occasionally until recently.
This is mainly a hedge, not a trading position as such. I do not usually do very well with short term trading. I'll lift more of it as the NDX goes down, add some back if it goes up.
So, our American brothers and systers are not so stupid ha? They are taking the money and running, leaving the big shots holding the beg? I love you brothers and systers, that is what I work for to let you know when to stick it to greedy SOB's. Good Trading
Hi Boris. Thanks for your limits this morning. I am always tuned in. What do think about GOLD and GLD.? Could this possibly be The end of short-term downtrend. If next week high surpasses this week's high it could mark a weekly trend shift up. It seems that GG has good support so far at the confluence of 50 dms and 38% Fib. retracement. Appreciate your opinion.
Thankyou.
Oh and lest I forget, Many greetings and best wishes to you and yours this holiday season from me in Ontario, Canada.
Dear Danno. All greetings to you too. On behalf of all this sites friends, best wishes to you and the family. I share the idea that we are at fib support and we ought to see, at least one more move up, while we see the Stock Market correct down. I am not sure though that we can shift the weekly trend up. That needs a move above 643 by GLD. Daily trend though, definitely can shift up with amove above 620 or so. Dear Danno good to see you back and you/all should find me more upto the task next week. Being out here off site puts me in too much of research mood and I lose the competitve spirit for a day(::) Good Trading
Saxobank just put out this on their client chat, they are actually quite good, though I have only been a client for a few months:
"FX Snapshot: FX markets came to a standstill after hitting massive stop orders on short USD positions. The activity is minimal after European close. EURUSD should have some bids at 1.3100-10, but 1.3080-90 area contains a few stops. Offers seen at 1.3125-30 and 1.3155-65. USDJPY offers at 118.90-95, possibly protecting 119.00 option barrier. Stops seen above 119.00-10, while bids come at 118.70-80"
Thank you for your comments of yesterday which I value.
Reading your exchange with James, I could not help but wonder if just selling the remaining qqqq puts I hold may be a good idea. The support of 43.00 may be a launch into a st rally as you commented earlier. I am looking to go long on short term OIH and undecided if I should start a position in it now or wait until Tuesday.
I would also like to wish you and all of the participants of this blog a very Merry Christmas and Happy New Year. And of course a profitable one !
The forex market(s) are rather differently organised than equity markets, and I have to admit that I really don't know at present how much Saxobank can see of other players positions, stops, etc., aside from their own books of course. They are after all a bank, not "just" a brokerage.
Dear Byzanman, Welcome back. All the best wishes to you and family too, from me and on behalf of all friedns of this site. Well, yes you heared what we discussed with James, Some ways I trust James's intuition in options more than mine and he was thinking going long, before we both dumped the idea, but I think it tells you that getting out maybe a better idea then staying in ( at least partially ). At the end - it is your decision, though.
OIH, HM... If I were you, I would wait, for next week to show me that OIH does not drop below this week. If so I would buy on a intraday low projections and try to stay in for few days ( ask me if you can not figure where that would be). If, on the other hand, OIH makes a new weekly low, one could still try to buy it, but not trust it much at all, in which case why bother? ( Frankly in that case I would look for see point rather than buy point ). Good To see you back with all others that dropped by today. I appreciate your trust and support. Please anybody there that may have ideas, to support or debumk me... speak up. GOod Trading
Im starting to think Boris target of 42.60 Tues morning may be hit. Im thinking of puts at the close and calls at the open. If it gaps down Tues it will be pretty short term oversold and P/C Ratios today are quite bullish. Best JC
Dear James/Byznman I said I trust your intuition a lot. I would say that you have no negligable chance of 42.60 Monday, but I would not take it. Why not? cause pressure is too much on the upside and my timing ( not pricing) is indicating low today. Now, what is for your proposal. 42.60 would complete a nice ABC down from the top ( equal moves ), would be nice. You will have to make that decision, but I am focused on shorts, only after some move up. I just do not have probabilities, enough, on that side. Dear Byzanman this goes back to your question as well. GOod Luck. Good Trading
Hello Boris, After a four day "short" run, I took 3/4 off the table at miday today and am looking for some weakness now to work and unload the balance of my qqqq's.
I agree Boris. The 2 day downtrend line has been broken to the upside and plenty of ammo for a squeeze on tues. Im standing aside. You all have a good holiday. Best JC
33 comments:
Hey Boris Do you think this is worth a long trade. Im empty handed. Best JC
Der James, If we trust the "how do we get there" picture, perhaps not, but knowing how fast you are, you maybe able to make it work. Frankly, shame on me, I become half useless when I leave my site. I think that this move up has 24 to 48 hours shelf life and perhaps 1% in (QQQQ) size. Considering we rose already and I am half useless, if you do it you will not have full(or fool ) myslef to work together. Still your ball Dear James. I, myself, seem to resist this idea of going long, even though, I can not see how this elevated buy-pressure level will dissipate without QQQQ having move up in here.
Good Trading Dear James. Good to see you today everyday, Happy and Prosperous 2007 to you my sother USA friend. How about Dolphins this year man? Seem like they only come to play when my Steelers Do...
I closed 1/4 of my short NDX position here, it's tryin to put in a low, but looks weak so far . . .
Currencies are moving, EUR down against both the USD & JPY.
Dear Cobbense.
What do you mean down, from the high... of course, but it is up on the day. Is not it?
Good Trading
Dear Cobbense, I mean $Dollar of course.
EUR down nearly 0.7% against the USD in the space of about 3 hours, about half that against the JPY.
EUR may be topping out, maybe not.
Thanks Boris and I wish you and your family the finest in 2007 also. My system is saying buy but we are obviously in a trend down and should be ignored I think. Im having a little trouble here. I havent seen a down trend in so long I can hardly believe it. This looks like the real deal. Sorry I dont follow sports... Im more of an outdoorsman type {hunting,fishing,canoeing etc.} But I hope all your favorites win. Best Wishes JC
Dear Cobbense,
Bloomberg says.
EUR Curncy 1.3203 +.19% +.0025
Up a little bit for today. In USA trading.
Euro is topping for sure, but I see good chance for 136/137 before the top.
GOod Trading.
Dear James, Ok
When you teach me fishing, I will teach you sports (: :). Besides is not fishing the best sport there is?
Yes, I agree James, hard to believe, right? And yes when the trend looks down one( like you and me ) think twice before taking long positions.
Spoken like a true trader.
GOod Trading
Dear Cobbense,
Where did you short NDX futures?
What price, what time?
Good Trading
Boris, Bloomberg is giving you what data? That was around the high of the day.
EURUSD fell to around 1.311 about an hour ago, is just above there now.
Thin markets also in forex of course.
Dear Cobbense,
EUR that show is for cash.
LAST CLOSE 1.3178
OPEN 1.3179
HIGH 1.3213
LOW 1.3142
LAST 1.3203
Good Trading
I started shorting the NDX back in the beginning of Nov. at 1742, added occasionally until recently.
This is mainly a hedge, not a trading position as such. I do not usually do very well with short term trading. I'll lift more of it as the NDX goes down, add some back if it goes up.
Boris, forex are 24 hour markets,except over the weekends, there is no "close" in the sense there is for equity markets.
I use Danish Saxobank.
Dear Cobbense.
I understand now. IN USA the open/cose of the 24 hours is counted from 6:00AM EST
I thought this was interesting from AMG DATA. I havent seen outflows this large in a long time:
Weekly data are posted Thursdays by 6:00 p.m., EST.
Weekly: Dec 20- Equity Fund Outflows -$10.5 Bil; Taxable Bond Fund Inflows $1.5 Bil
Best JC
So, our American brothers and systers are not so stupid ha?
They are taking the money and running, leaving the big shots holding the beg? I love you brothers and systers, that is what I work for to let you know when to stick it to greedy SOB's.
Good Trading
Dear James,
Thanks for updating us.
Good Trading
Hi Boris. Thanks for your limits this morning. I am always tuned in. What do think about GOLD and GLD.? Could this possibly be The end of short-term downtrend. If next week high surpasses this week's high it could mark a weekly trend shift up. It seems that GG has good support so far at the confluence of 50 dms and 38% Fib. retracement. Appreciate your opinion.
Thankyou.
Oh and lest I forget, Many greetings and best wishes to you and yours this holiday season from me in Ontario, Canada.
Dear Danno.
All greetings to you too. On behalf of all this sites friends, best wishes to you and the family.
I share the idea that we are at fib support and we ought to see, at least one more move up, while we see the Stock Market correct down. I am not sure though that we can shift the weekly trend up. That needs a move above 643 by GLD. Daily trend though, definitely can shift up with amove above 620 or so.
Dear Danno good to see you back and you/all should find me more upto the task next week. Being out here off site puts me in too much of research mood and I lose the competitve spirit for a day(::)
Good Trading
Saxobank just put out this on their client chat, they are actually quite good, though I have only been a client for a few months:
"FX Snapshot: FX markets came to a standstill after hitting massive stop orders on short USD positions. The activity is minimal after European close. EURUSD should have some bids at 1.3100-10, but 1.3080-90 area contains a few stops. Offers seen at 1.3125-30 and 1.3155-65. USDJPY offers at 118.90-95, possibly protecting 119.00 option barrier. Stops seen above 119.00-10, while bids come at 118.70-80"
Dear Cobbense,
I presume this is the look into the FOREX book of SAXO, not the entire world, which they could not possibly know. Right?
Good Trading
Greetings Boris,
Thank you for your comments of yesterday which I value.
Reading your exchange with James,
I could not help but wonder if just selling the remaining qqqq puts I hold may be a good idea.
The support of 43.00 may be a launch into a st rally as you commented earlier. I am looking to go long on short term OIH and undecided if I should start a position in it now or wait until Tuesday.
I would also like to wish you and all of the participants of this blog a very Merry Christmas and Happy New Year. And of course a profitable one !
Cheers to all...
Boris,
The forex market(s) are rather differently organised than equity markets, and I have to admit that I really don't know at present how much Saxobank can see of other players positions, stops, etc., aside from their own books of course. They are after all a bank, not "just" a brokerage.
Dear Cobbense.
Thanks for SAXO view.
Good Trading
Dear Byzanman,
Welcome back. All the best wishes to you and family too, from me and on behalf of all friedns of this site.
Well, yes you heared what we discussed with James, Some ways I trust James's intuition in options more than mine and he was thinking going long, before we both dumped the idea, but I think it tells you that getting out maybe a better idea then staying in ( at least partially ). At the end - it is your decision, though.
OIH, HM... If I were you, I would wait, for next week to show me that OIH does not drop below this week. If so I would buy on a intraday low projections and try to stay in for few days ( ask me if you can not figure where that would be). If, on the other hand, OIH makes a new weekly low, one could still try to buy it, but not trust it much at all, in which case why bother? ( Frankly in that case I would look for see point rather than buy point ).
Good To see you back with all others that dropped by today. I appreciate your trust and support. Please anybody there that may have ideas, to support or debumk me... speak up.
GOod Trading
Im starting to think Boris target of 42.60 Tues morning may be hit. Im thinking of puts at the close and calls at the open. If it gaps down Tues it will be pretty short term oversold and P/C Ratios today are quite bullish. Best JC
Dear James/Byznman
I said I trust your intuition a lot. I would say that you have no negligable chance of 42.60 Monday, but I would not take it. Why not? cause pressure is too much on the upside and my timing ( not pricing) is indicating low today. Now, what is for your proposal. 42.60 would complete a nice ABC down from the top ( equal moves ), would be nice.
You will have to make that decision, but I am focused on shorts, only after some move up. I just do not have probabilities, enough, on that side.
Dear Byzanman this goes back to your question as well. GOod Luck.
Good Trading
Hello Boris,
After a four day "short" run, I took 3/4 off the table at miday today and am looking for some weakness now to work and unload the balance of my qqqq's.
Thank you for your comments on OIH
and will do !
Thanks again...
I agree Boris. The 2 day downtrend line has been broken to the upside and plenty of ammo for a squeeze on tues. Im standing aside. You all have a good holiday. Best JC
Ok ALL.
Good Trading.
Healthy New Year
Prosperous New Year
Likewise Boris.
Dear Kenneth, I just came home and saw your greetings. So wonderful.
Good Night my dear friend.
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