10 replies to this topic

[Mr Dev]

I'm sure you all respected the set up this morning, although i saw a lot of nervous players here freaking out last night with the futures opening. I felt like saying guys it doesn't matter but I'm committed to posting less and laughing more. This is exactly how the 08 sell off started with that big gap up that morning that failed and just kept on going. Sell signal and divergence shows the RUT headed for 647 then 632 ish ... a break down there means we are likely to break the June 8th lows of 607. My trade is still on remember I play 1-3 day to 3 week swings trades. This one has been flat for about 5 days..but it looks to profitable again soon. I can't wait for earnings ! Trade Safer

[MikeyG]

I agree, the market looks weak here...

[Mr Dev]

Momentum is down so a gap down would not be a surprise ...except for those thinking this is not going to be a big pull back. I suspect they'll exit their long at lower levels. trade wisely

[arbman]

Mr Dev, best of luck. I think the patience will pay the bears than bulls, but the bull may have a few more gasps before it dies... If it gaps down and sells off, then you are the man.

[rkd80]

This morning we had overbought levels that spelled sell-offs for the past 2 years or so.

[capgain55]

I'm sure you all respected the set up this morning, although i saw a lot of nervous players here freaking out last night with the futures opening. I felt like saying guys it doesn't matter but I'm committed to posting less and laughing more. This is exactly how the 08 sell off started with that big gap up that morning that failed and just kept on going.

Sell signal and divergence shows the RUT headed for 647 then 632 ish ... a break down there means we are likely to break the June 8th lows of 607.
My trade is still on remember I play 1-3 day to 3 week swings trades. This one has been flat for about 5 days..but it looks to profitable again soon.
I can't wait for earnings !
Trade Safer

I'm still long my TZA from 6.33, DTL was violated today and daily looks wonderful.

Have a good one.

cap.

[capgain55]

I'm sure you all respected the set up this morning, although i saw a lot of nervous players here freaking out last night with the futures opening. I felt like saying guys it doesn't matter but I'm committed to posting less and laughing more. This is exactly how the 08 sell off started with that big gap up that morning that failed and just kept on going.

Sell signal and divergence shows the RUT headed for 647 then 632 ish ... a break down there means we are likely to break the June 8th lows of 607.
My trade is still on remember I play 1-3 day to 3 week swings trades. This one has been flat for about 5 days..but it looks to profitable again soon.
I can't wait for earnings !
Trade Safer

I'm still long my TZA from 6.33, DTL was violated today and daily looks wonderful.

Have a good one.

cap.

ST target gap at 7.98 on 60 min.

[Rogerdodger]

Jun 19 2010

""I expect the unusal and a rally early in the week and a lower close for the week."

For whatever their reason, Tuesday is stamped with a cute little bull in Trader's Almanac.
I BS'd that Monday might sell off at the close and catch early bears with a rally Tuesday, then sell a bit into week's end.
But that is only worth what you paid for it."

Will we get to see that cute little bull tomorrow?

Next week's headwinds: Dow down 17 of last 19 12 H&S continues to develop

Edited by Rogerdodger, 21 June 2010 - 08:15 PM.

[arbman]

Will we get to see that cute little bull tomorrow?

It is also my guess, they will unload the trucks when Fed says NOTHING.

[rkd80]

Who cares about the Fed anymore? He is impotent.