Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Monday, November 10, 2008
Out
I did not think the market would go below Friday's close, so I just sold my e-mini unit at 935.50. As long as the market doesn't go below 925 I shall remain bullish and will be looking for another chance to buy.
Carl, Double down at 924, on bullish crosses on the 1-minute, 3-minute, and then 5-minute stochs. I am conflicted on the merits doubling down as a strategy. For instance, I could have doubled down at 933 -- I was similarly bullish at that point. I guess I did find a solid technical reason at 924.
Hope you don't mind my using your blog as a training diary. I'm doing it partly because it might help others and partly because I think of you as a teacher. I assume that -- by posting your trades, and reasoning -- that's the role you're trying to fulfill.
Carl, you seem to have neglected your George Lindsay posts. I can understand why, but in fact his chart predicted where we are. Why not revisit and reconsider the pattern not from the 108 or so days, but from a ten year perspective.
Carl, Consider we may be in an ABC correction of the rise from 825 to 1008. We are in the C leg now which should go below 900 to 893 at a minimum (a perfect swing would take things down to 851 potentially). From this area the rally to 1050-1060 will begin? DE
this makes for a great bear case. Everyone is bullish thinking the lowest I have heard is 850. Wow what happens when 850 gets taken out we could see mass panic!Just my 2 cents worth.
10 comments:
Carl,
Double down at 924, on bullish crosses on the 1-minute, 3-minute, and then 5-minute stochs. I am conflicted on the merits doubling down as a strategy. For instance, I could have doubled down at 933 -- I was similarly bullish at that point. I guess I did find a solid technical reason at 924.
Hope you don't mind my using your blog as a training diary. I'm doing it partly because it might help others and partly because I think of you as a teacher. I assume that -- by posting your trades, and reasoning -- that's the role you're trying to fulfill.
Hi Carl,
I was stopped out of my 926.00 long at 928.00 and went short.
Thanks.
Kindest regards,
PM
Carl, you seem to have neglected your George Lindsay posts. I can understand why, but in fact his chart predicted where we are. Why not revisit and reconsider the pattern not from the 108 or so days, but from a ten year perspective.
Regards,
Huw
Carl,
Consider we may be in an ABC correction of the rise from 825 to 1008. We are in the C leg now which should go below 900 to 893 at a minimum (a perfect swing would take things down to 851 potentially). From this area the rally to 1050-1060 will begin?
DE
Hi Carl,
I covered my 928.00 short and went long again at 920.00.
Thanks.
Kindest rgards,
PM
Under 925 - what now then? 850?
Hi Carl,
Now flat at 920.00, no signals.
Thanks.
Kindest regards,
PM
Out both units for a loss at or around 911.
Carl,
Market closed below 925 but i warn you not to short it tomorrow, it's a fake.
this makes for a great bear case. Everyone is bullish thinking the lowest I have heard is 850. Wow what happens when 850 gets taken out we could see mass panic!Just my 2 cents worth.
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