35854 replies to this topic

[Beorn]

Jakes, on 20 Nov 2013 - 3:08 PM, said:

It's been a while since I have seen open interest this high, >150 000 contracts.

If US rallies hard on FED minutes we might see a big short squeeze tomorrow.

 

I am keeping a small short overnight anyway.

 

I was talking about this short.

In-case someone doubted.

[Beorn]

Closed my short @ 40110

Will wait and see for another entry, which ever way.

[snoop]

there she goes

[Sunesis]

Never Short a Sleeping Bull.

 

Top 40 has been sleeping for the past days.

[Argento]

Argento, on 21 Nov 2013 - 10:09 AM, said:

Hi S,

 

The uptrend line (attached graph) since June has been broken this morning (backtesting now?)...still see the daily trend up?

 

All macd's..including weekly is down but agree with you that 39800 level is the line in the sand!

 

A

Apologies, was wrong graph!

 

A

[Argento]

Sunesis, on 21 Nov 2013 - 09:41 AM, said:

One thing to remember is that, we are not in a bear market.

The FTSE has good support @6600. So it wont give up easily especially in a bull market. Seasonality and Yellen are supporting the market.

Taper talk has been here since the beginning of the year, so traders don't really care about it anymore. Taper talk is priced in.

Top40 still has it's 39800 support intact.

 

But we need another leg down to 39800 to confirm the bullish move.

I believe we will pump and dump today also. But don't fall in love with the downside, because trend is still up on the daily charts. All other lower timeframes are just noise.

Never use low time frames to find the trend.

Hi S,

 

The uptrend line (attached graph) since June has been broken this morning (backtesting now?)...still see the daily trend up?

 

All macd's..including weekly is down but agree with you that 39800 level is the line in the sand!

 

A

[Sunesis]

Making more money with FTSE than lousy Top40

 

 

[Sunesis]

joker, on 21 Nov 2013 - 09:51 AM, said:

Why , S? Why copper?

Copper is a measure of economy manufacturing and activity.

Most historians use copper to see if the economy is picking up

[Sunesis]

chubby, on 21 Nov 2013 - 09:42 AM, said:

Will watch for the bounce..I think i said that my low was 40000 on my chart so was anticipating a bounce...but....im willing to trade my profit from my shorts to 39800 today

 

chubby, on 21 Nov 2013 - 09:42 AM, said:

Will watch for the bounce..I think i said that my low was 40000 on my chart so was anticipating a bounce...but....im willing to trade my profit from my shorts to 39800 today

This waves are interesting for the bulls and bears.

Bears know it will hit 39800, so they stay short. And hope it hits and breaks it.

Bulls know that 39800 is coming, they hope it hits and bounces.

 

What i can say is that both bulls and bears are making money at the moment.

When market is playing mind games like this, its best to stay with your bias.

If you start chopping and changing everyday, you will loose money.

 

Trend is your friend, the rest is just noise        

[joker]

Sunesis, on 21 Nov 2013 - 09:46 AM, said:

Copper is rising, bullish signs for the market coming in the next days.
Copper is the only measure traders use to see if the trend is changing.
 
That's how you see if bull and bear markets are about to end or start.

Why , S? Why copper?

[Sunesis]

Copper is rising, bullish signs for the market coming in the next days.

Copper is the only measure traders use to see if the trend is changing.

 

That's how you see if bull and bear markets are about to end or start.

[mx125]

The question is; What's going to happen if they fix the problem. Will everyone forgot that the Asian markets fell this morning, or are we going to follow the FTSE immediately.

[Sunesis]

joker, on 21 Nov 2013 - 09:30 AM, said:

2 Longs at 40260. FTSE is recovering nicely. Maybe we are now looking skyward.

One thing to remember is that, we are not in a bear market.

The FTSE has good support @6600. So it wont give up easily especially in a bull market. Seasonality and Yellen are supporting the market.

Taper talk has been here since the beginning of the year, so traders don't really care about it anymore. Taper talk is priced in.

Top40 still has it's 39800 support intact.

 

But we need another leg down to 39800 to confirm the bullish move.

I believe we will pump and dump today also. But don't fall in love with the downside, because trend is still up on the daily charts. All other lower timeframes are just noise.

Never use low time frames to find the trend.

[Argento]

chubby, on 21 Nov 2013 - 09:17 AM, said:

still need to retest 40000

Don't count on the low being made this week...

 

5H bearish cross is approaching that goes with some sort of bounce before the final whack down..!

 

Funds going to push her down till next week (US holiday?)...if 40 000 (futures/last wednesday's low) holds then we should sit with a bullish triangle for new highs into December, if that goes then that 38900 (futures) comes into play next week!

 

US making more or less the same pattern as their correction in April, if it is they aiming for the 1740/46 level before new highs!

 

Gold and Aussie dollar looking bearish so to buy now would be a shot in the dark...wait for confirmation and protect your capital!

 

I am a crocodile now waiting for that magic long opportunity!

 

A

[joker]

2 Longs at 40260. FTSE is recovering nicely. Maybe we are now looking skyward.

[snoop]

I see daily MA50 is around 40007 - alsi flirting with it. Remember 8 Oct. Should prove key resisitance..

Did go around 80 points under a week ago but bounced nicely.

[Lamarje]

Guys...don't you think that the bear run is over for the day?

[BBW]

chubby, on 21 Nov 2013 - 08:57 AM, said:

Just a theory though..Im sure Ocean has better insight

Makes sense though

[Sunesis]

Sunesis, on 20 Nov 2013 - 9:08 PM, said:

Tomorrows dip should be bought by all means !!!!!!!!!!!!!!!!!!!!!!

 

The afternoon drive should be bullish.

 

 

Most bears are short, good for a bullish move

Most bulls are running away, its good for a bullish move.

 

As i said Pump and Dump was going to be the order of the night.

 

Now the Man can be separated from the boys.

 

Buy the F*cken Morning Dip. The Express train will come in the afternoon

Don't be scared Yellen is with us

[BBW]

chubby, on 21 Nov 2013 - 08:33 AM, said:

Didn't mean to confuse the issue BBW..I have had a theory for a long time that Indices data drives equity trading and not the other way around. Basically big fund instituitns use algorithms based on indices data to generate equity buy and sell signals. These Automated trading systems generate huge volumes. The fact that the Indices data is not being provided and we have very low equity volumes maybe points gives some credence to my theory.(those algorithms cant run without data)

 

SAFEX data is still availble though and IG pricing is based on that underlying instrument ASLI near dated.(derivitive) So what drives the ALSI?

See what you mean. Thanks.