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Tuesday, December 30, 2008
Out
I just sold my two long units at 887.50. I think today's action is bullish, but I doubt that a strong uptrend can develop until after the new year begins and volume returns to the market.
3 comments:
Anonymous
said...
Carl:
I do not understand your trading. Your market direction calls are of an intermediate term nature, yet your trades based on this are day trades.
Am I missing something?
Would you be kind enough to perhaps explain a little further as to why you close your positions daily?
Excellent blog by the way. All your work and input is sincerely appreciated.
HEY CARL i tend to agree with your short thoughts just posted yet from a different perspective . what id like to see is a decline in the next couple days yet im not going to be short the market right now , the next short term cycle high comes jan 14th to jan 20th and then we enter a slew of bearish cycles , right now we are in the early stages of a strong bearish cycle that should intensify around mid feb so we have a bullish window opening and the market rose today ahead of this present short term cycle low . so my bias is short to mediium term bullish . there is more to this yet ill note for another day since there is only so much room to post here other then this feels like end of quarter end of year window dressing joe
3 comments:
Carl:
I do not understand your trading. Your market direction calls are of an intermediate term nature, yet your trades based on this are day trades.
Am I missing something?
Would you be kind enough to perhaps explain a little further as to why you close your positions daily?
Excellent blog by the way. All your work and input is sincerely appreciated.
Rick B.
HEY CARL
i tend to agree with your short thoughts just posted yet from a different perspective .
what id like to see is a decline in the next couple days yet im not going to be short the market right now , the next short term cycle high comes jan 14th to jan 20th
and then we enter a slew of bearish cycles , right now we are in the early stages of a strong bearish cycle that should intensify around mid feb
so we have a bullish window opening and the market rose today
ahead of this present short term cycle low . so my bias is short to mediium term bullish .
there is more to this yet ill note for another day since there is only so much room to post here
other then this feels like end of quarter end of year window dressing
joe
Hi Carl,
I just went long at 890.00. For today, I would need a close above 918.20 to confirm an up trend, but anything can happen.
Thanks.
Kindest regards,
PM
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