Thursday, October 08, 2009

Long second unit at 1059.00

11 comments:

Teich said...

Nice long entries! I followed you too, after noticing that the quasi-gap fill was corrective, not impulsive.

F&H Painting said...

Teich
How do you define the difference between a quasi-gap and and impulsive one?

John said...

Market appears with be struggling with the 1063 level...If we can't get through there for good on a 3rd try, it seems best to get out.

John said...

Ok. 3rd time seems like a charm.

Kishore said...

John, the struggle at 1063 was in preparation for a breakout of a bull flag. We can know what WAS "best" only after the fact, and not before, unfortunately.

Carl's mid-term assertions come as close to meaningful predictions that I know of. But, even his predictions are based on the market being in an unrelenting up trend. Of course, that too can change but not without break in the mid-term trend lines.

andi said...

bought UUP, shorted ES1065 boatloads...R/R huge for next few days

Fermin said...

Andi,

How many times have you shorted the market in the last days? Do you usually get it right the third or fourth time? , I would appreciate your great wisdom just to know when to sell my longs.
Best Regards,
Fermín.

andi said...

fermin, i scale out..right now i have a 1.5% loss from last position but it is yet a paper loss..good luck on your longs..u will need it

Kishore said...

andi, are you guessing the top for ES or the bottom for UUP, or both? As there is currently an inverse correlation, you could be either right on both counts or wrong for both. Big bet! Good luck!

andi said...

do not discount the possibility of a crash here..folks..doesn't mean i do not daytrade longs

MaverickUK said...

Caution - bearish divergence is showing on the US indices.