Friday, May 28, 2010

Long one unit at 1096.50

11 comments:

Adsense said...

good call
they did it again , took the 30 minute up bars versus down bars back to the bottom of the lowest range since may 24 . if this holds
we now need more up 30 min bars then down , typically 5 up versus 5 down on average .
joe

Laurence said...

We've come 60 pts in 3 days, why wait now to go long?

Edwin said...

Laurence..what made you think that Carl had not traded otherwise?

I think the 200 day SMA of 1,104.89 is acting as very strong short term resistant.

Laurence said...

I don't, but he didn't mention it here.

roguewave said...

Larry...the only infallible traders are the ones who at the end of the day robustly describe where they bot and sold their 300-400 dealios......

Kishore said...

Based on reliable cyclic movement of some indicators, and their correlations with price movements, we are almost ready for a visit to deep south over the next week. Scuba divers may look for pearls down there!

curt said...

Kishore..."reliable cyclic movement"...please provide more details.

MaverickUK said...

Unfortunately Carl, yesterday was simply a dead cat bounce. Expect S&P to give back all its gains and to now trade to 1006 within days.

Bullish days are over Carl until we hit 450 on the S&P.

Kishore said...

This reliable indicator is based on intra-day $TICK count, accumulated over longer periods. It indicates the cyclic accumulation and distribution by program trading.

During the current up cycle, up price upward movement, big as it may seem, is relatively insensitive to accumulation. This means that the price, during the down cycle distribution, will be much more sensitive.

Moreover, on daily charts, we are in Elliott wave 3 Down.

Bottom guessers are wrong most of the time.

MaverickUK said...

Actually I don't know why I am saying unfortunately as I and my clients are wisely short.

MaverickUK said...

Also I am afraid I cannot agree with your Euro analysis. The Euro/ dollar in my opinion is going into oblivion and is a one way abet as are the markets.