" It is a confusing state, but I would not be afraid of this market any more and will lean to give the short more of the benefit of doubt, even if immediate results are otherwise."
Dear Readers, Above the quote, before market open on FRIDAY. It leaves no doubt, that I have pulled the PLUG on the ROBOT and leaned short, even as I was holding MDS BUY signal in my hands. Why? Well, it was another machine that helped to do this. It was MDS for NASDAQ. It remained on SELL and has made me suspect the S&P based MDS BUY signal. So, One machine pulled the plug out of the other. Let us not forget our ANTIDOLLAR RALLY forecast was another reason to suspect MDS(spx). Under the circumstances, I stayed out of the market, after collecting no loss position on MDS. Now, as I said, I am waiting for the signals to realign themselves.
9 comments:
Hi Boris,
Wow. SPX did fall more. Maybe the SPX MDS may still work.
Dear Hopper,
MDS SPX, will probably lose this round, this looks very suspect because that is exactly how MDS looked at the top of OCT11 2007, where it gave a buy right at the top. Of course, later it has put magnificent streak of gains, but it seems like at critical turn points MDS SPX can be fooled.
Good Trading
Hi Boris,
please, how do you see EURJPY for the next 2-3 days? flat/down/up?
Usually, it went down with stocks falling but this time looks different...
Thanks, Ivan
Dear Ivan thanks for forcing(:- me to look at this...
It looks like a cunfluence of timeing points nails Yesterday as a very probable turn date!
With this price 165.90 being a GANN price point as well, this smells like a great short term Reversal to the short side...
Ver short term though, Please note I am bullish on the spread all the way up to 170 and 176 eventually...
Good Trading
Hi Boris,
thanks. Please, if this occurs, how long could it last and eventually what would be your price target on short side? I am short and need this help.
Thanks, Ivan
Dear Ivan,
Low 163 looks like an ideal place for the retracce, that would be into the gap and it would be about 62% FIB retrace. Days? How about 2,3 oor 5( 5 most likely)...
Good Trading
An idea that would support the BUY signal:
is June 6 a LOW in reality and not a high?
I have a chart from P. Eliades, from his April 4 newsletter, showing a trendline in DJ from 1974 to March 08. In June it´s about 12000 (don´t have link, sorry. See a DJ chart but logarithmic. The TL is over the price at first, from 1987 on under the price).
Now, should we have a serious sell-off, this extremely long term trendline would be violated / broken, and I can only imagine that this has very bearish consequences. So who sticks with the expectation of rising markets in 2008, for seasonality, elections etc., should not expect a crashette here that leads us far below 12000.
Ok, a retest of the march lows of 11740 would perhaps not break the TL significantly, but lower prices would, IMO.
So to avoid a crashy, deflationary scenario right now, 6th June better be a low, which it as well might be, and not a high.
And this would support an MDS buy, as incredibly as it may seem (to me ).
Dear Boris,
It could happened that MDS do have some problemes when Mercury is retrograte, which happens 3 or 4 times a year. It started 26th May and last to 19th June.
Usualy the SPx change directions in a strange way when Mercury is retrograte.
I waited 2 days after the last sell signal before I bought one put option in the DIA. It is probably the first time I experian that the option did not loose walue after I had bought it. Sold it at thursday opening minutes with a rewenue.
MDS gives an early signal, so it could be posible with a rally soon (or probably not if MDS goes to a sell)!
Have a nice weekend.
Howard
Dear Pit, Dear Howard
Thank you very much for your insights.
At this time. After analisis of FRIDAY's close, MDS(SPX) is still ON BUY and the MDS NAZ is still on SELL. I have a feeling that this means at least some more downside into MONDAY and possibly TUESDAY. Now, I also think that it is entirely possible that WHEN MDS/SPX SELL comes it may well be around this level 1370 or even higher. So scales in next couple days may work... but careful please. Managable size is the best.
GOod Trading
Post a Comment