Dear Readers, The Stock Market is still suffering from the wild currency moves last couple days. In general $US has done well and is higher this week. Just that YEN is sucking the life out of everything. I think the traders there, may have just fired their last salvo as they force ran the currency high to 117.20, now back to 117.60. Going back to our charts, somebody, Dave, Please should have hit me yesterday on my head and told me to take a good look at the summation graph, It was running into the price graph as in the past and the mood already was bad and SELL PRESSURE was high and I had advised to lighten up day before. But I should have been more forceful even advocating shorts... Well, such is a hectic day of mine, that I often do not find a time to take good look at my own charts. Dave Help me when you can. Hit me with the 10 foot iron when you see I am not being alert(: :).( investors this is not for you guys)Good Trading
10 comments:
Good Morning Boris!! Let's hope they can steady the boat. Not sure what you were watching the past couple days, but you had lots of warnings from your loyal readers. I posted several times the downside supports and jimtaylor even said CRASH yesterday, and several of us said up 'b' had ended and down 'c' was underway. But no one is right all the time, so no harm. As Davy Crockett said - "You pays your money and takes your chances". Good Luck all!!
Dear SQROOT, I certainly saw the messages you are talking about. The thing is that, I was under assumption that retest has already accured and we should not have a deep retest again. So I did not expect the ferocity, but I certainly did not have the illusions about the day being great.
Now, for investors none of this matters and I am glad that you guys as short term traders can self direct yourselves and me too. That is why value very much all of you participating with great IDEAS JD, LAGSCREW, YOU all over. Great Job Guys.
Being more of an intermediate term ( SWING TRADER) Frankly, I do not pay much attention to ELLIOT or GUN or any others. I like them and welcome them, but I pay almost 0 attention to waves. Sometimes they are so clear that even I can not ignore them, but I do not look for them.
Enough Said. Great Job and congratulations everybody.
Good Trading
Yes I agree dear Boris. These are exceptional times, way out of the normal. When panic occurs who knows what will happen? 1462 held up for a while yesterday, but fell, next is 1438 which I expect to fall too, next is 1409. I don't think we hit there YET. End of the month we take out 1409. World events can change everything, as we have seen, so we need to watch every day. Good Luck and thank you so much for all you do for us!
Dear SQROOT, we just tested the lows on ES MINI, but I have to be reserved about the scenario you describe, until the RUT/R2K breaks the lows and that is very far from here. It has held up very well last couple days and one would think that they should be the first to goooooooooooooo...
Let us see what develops.
Thanks and Regards, Dear SQROOT
Boris,
Just patiently waiting for a buying point for a little retirement money. Thanks to everyone for their comments.
John
Dear John,
For Retirement, we should consider the Investors section. What could be better than 5-6% free dividents and capital appretiation for a retirement.
Us Crazies, traders, we are nuts.
Do not need the aggravation for retirement(: :).
Love you John.
GOod Trading
Hi Boris
will be looking to take some profits today on TWM.
Most of $$$ used is k-plan so at the close yesterday I covered 1/2 of shorts. ( I have to do end of day with that portion) The other 1/2 is set up for trading
planning on keeping at least 1/4 short for this BEAR market.
Looks like UNG has made the bottom. Its that time of year.
Dont have to worry about stocks dropping for that one.
I have about 15% in there.
Am looking to add some SLV and GLD because of all the $$$ created in this crazy move.
LAG
Dear LagScrew, I guess you have some probability that the move lower continues. I am sure there is one. We all chose what it is. What do you think such probability is? For me it is now less than 40%
GOod Trading and Congrats.
If we get to the Mid to High 1300's S&P then Ill be satisfied for awhile. Until then Im a Bear for now
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