Dear Readers, the benefit of the doubt must go to the upside. Due to the same items discussed in yesterday's main post. The buy pressure is low now, but so is the SELL PRESSURE and the last definite thing was a strong BUY PRESSURE. Summation Line indicates that "the market needs to lick its wounds and find the way even higher". If you are long stay so and do not short this market, except for a quick day trade, which may happen, due to one more YEN visit below 115. That does not have to happen today, even as today is the most likely. Good Trading
11 comments:
Boris
Thanks again. Learned so much the last few weeks.
Old John
Enjoy Dear John,
Good MOrning and good Trading
I was fairly successful yesterday, thanks to you. Taking wife on retirement vacation next week.
Would you go long on a dip today for a daytrade?
Dear John,
That depends on limits and how are they approached and feel of the market. and what other markets are doing. At the top , hard to say, but the possibility is there and good one too.
Good Trading
Boris,
Thanks again.
Old John
Futures point to a down opening,who knows where we go from there.Im working on my discipline! Will anyone hold a position during the "speech" tomorrow? Good luck to all!
Dear Chronictown, Readers,
We said, likely and if the market follows the Volatile WHITE line,
That maybe exactly what we are getting. But it looks unlikely to erase yesterdays gain today.
Possible though
GOod trading
Great call on today's action on the market Boris, I was ready to short the q's until I read your statement. You saved me today, Problem was I didn't go long either. Will set on the sidelines and watch for now and get short when you say so. Thank you. Waldo
Boris,
thanks, went to cash because of our retirement vacation. also, thank you to everyone else. learned a lot.
Old John
Boris, in the "for what it's worth" department, looking at your roadmap and the dates on it correspond reasonably close (sometimes very close) to my 10 week cycle calculations: I get the following dates: for tops: 9/19/07,11/23/07,1/29/08,4/3/08,6/9/08,
For bottoms I get:10/22/07,12/26/07,2/29/08,5/6/08,7/10/08..
This cycle is useful but often gets "walked on" so it's interesting that your methodology seems to be showing when those cycles are actually being folowed by the market..and of course, when they aren't, as well...
Regards,
mlytle
Dear Lytle,
Greately appreciate your info.
Thanks a lot and please continue posting whatever ( all) good things coming to your mind.
We love your participation
Good Trading
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