35854 replies to this topic

[WINH]

We bulls are being slaughtered for Christmas!!

[Beorn]

SAB down +-0.8%

Bill down +- 2%

CFR down +- 1.1%

NPN down +- 2%

BTI down +- 0.2%

 

Very weak indeed.

and I am very sorry I didn't keep a short overnight. Ai

[Argento]

This is now a bearparty (under daily 89 green line) and ain't no bull invited!

 

Funds going to push her down into next week (futures close-out), got a cycle bottoming and with the FOMC meeting seems pretty much we can expect that bottom...question is where is she going to turn (38000!?), got a daily bearish cross approaching so let the mudslide begin..don't bet on that 39000 IG level holding!

 

SPX made a double top with a target of around 1742ish!Then I think we should see a strong rally into 2014...

 

A

[Beorn]

Also, normally on a big drop like this, you'll see highish volumes of trading, not the case today.

To me, this is also bearish.

[AJS]

Nice going Jakes!

 

Big gap down there... Yeah, I'll probably have to use my stop on BIL today

[Beorn]

BHP got wacked again in AUS.

Our resource stocks should suffer again today.

[Beorn]

I dont think anyone except maybe the institutions know where this is going. We are only sheep following the trend of the day/week - at least that is my view.

All i can do is trade the trend and buy at the bottom and sell at the top of the channel.

 

If you follow the trend and take 100 points a day, it can be very profitable.

IMO, following the trend is the only way to trade successfully.

[AJS]

The pit just got darker and deeper!

 

Looking at IG this thing is plunging down to the dark bottom... 

[snoop]

Wakey wakey anybody notice the lovely drop we are having out of hours

So we are now around 150 points from first retest and 170 from the second according to chubbs so things could happen early this morning especially if guys had any longs last night - around 70% of Ig clients were long last night.

[snoop]

Wakey wakey anybody notice the lovely drop we are having out of hours

[davidp13]

Looks like we might get "klapped" tomorrow as Argento suggested.

Looking at IG this thing is plunging down to the dark bottom... @ 39456 already and if M's new thingy is anything to go by the dive look for real.

 

The dive master screamed - dive dive dive... and they more than likely gonna stay at the bottom till the cylinders are out of air then only that POP.

[davidp13]

Strong suggestion Triple bottom in the making. 2 lows in already @ 39135 and 39107. Third should be in @ 39000 maybe on Friday. Target price would be 40800 (High-Low) + Confirmation point or break out point(40000)
 
It could though be a double top if we break through the first low which means we will see 38600..wont add any more longs until we get to 39100..Will close out at 38900

A few days ago I thought it was a double bottom...will see when we get back to 40000

I dont think anyone except maybe the institutions know where this is going. We are only sheep following the trend of the day/week - at least that is my view.

All i can do is trade the trend and buy at the bottom and sell at the top of the channel.

[AJS]

Looks like we might get "klapped" tomorrow as Argento suggested.

[Lamarje]

Strong suggestion Triple bottom in the making. 2 lows in already @ 39135 and 39107. Third should be in @ 39000 maybe on Friday. Target price would be 40800 (High-Low) + Confirmation point or break out point(40000)

 

It could though be a double top if we break through the first low which means we will see 38600..wont add any more longs until we get to 39100..Will close out at 38900

A few days ago I thought it was a double bottom...will see when we get back to 40000

[RBM]

Good run today R. Will stay out of market for now. DIdn't enter a short.

Well done to Jakes and other bears. Markets was good to everyone today.

Thanks it was an exciting day, looking forward to tomorrow

[Mhlato]

Did a quick back test my self... Seems to be quite a good system you've got going there Mhlato.  Did you work this out as a strategy for yourself?

 

Nope, i got it on the Net in 2009 and completely forgot about it till about 4 month's ago when i was looking for a way to trade when we are in a consolidation phase, like these last couple of days. 

 

But..it is not cast in stone, as with every trading system you must have your stops in place.

[AJS]

Example of todays entries using the STTP (5min chart)  

 

M3 = Midpoint between Pivot & S1

M2 =       "            "           S1 & S2

 

Did a quick back test my self... Seems to be quite a good system you've got going there Mhlato.  Did you work this out as a strategy for yourself?

[Mhlato]

Sweet stuff M, nice!

 

AJS, i think a big problem some traders have is that they do not spot a change in trend in time (or do not want to except it!)  

 

As long as the 20EMA on the daylies is down i will keep selling the rallies and buying the dips using the STTP. As i said, once that change and we start trading above that EMA, i will switch back to the "1hr thingy" for longer term trades, mostly longs.

 

As your signiture says "Trade what you see and not what you think"

[AJS]

Example of todays entries using the STTP (5min chart)  

 

M3 = Midpoint between Pivot & S1

M2 =       "            "           S1 & S2

 

Sweet stuff M, nice!

[Mhlato]

STTP?

 

 

Short Term Trade Plan ( See my post @ 15:23)