35854 replies to this topic

[Sunesis]

1st dip @38950

[Argento]

You mean you're not a millionaire A? Or wait, you are a millionaire and the rest of us could have been? 

[K~~]

Did a quick short scalp from 39020 to 38990, but just haven't got the guts to stay short in this market. All the while still having a very small long from 39020..., but going to close it asap and stay out of the market today, I think?

 

Pity, the bears are in control...

[Argento]

Adding shorts!

 

A

[Trainee Trader]

General sentiment is bearish. S&P 500 currently @ 1,676.12. Signs of a RED day.

 

Closed Shorts @ 38,976. Bulls and Bears fighting it out. Will wait until a clear winner emerges.

Edited by Trainee Trader, 08 October 2013 - 09:12 AM.

[BBW]

Did a quick short scalp from 39020 to 38990, but just haven't got the guts to stay short in this market. All the while still having a very small long from 39020..., but going to close it asap and stay out of the market today, I think?

[Trainee Trader]

Against my trading rules but im short x3 new positions @ 39002

 

General sentiment is bearish. S&P 500 currently @ 1,676.12. Signs of a RED day.

[bear catcher]

Buy the dip and selling the rallies the last couple of days turned out very profitable. Will wait to see were SP closes tonight. You guys got it right a correction is coming and hopefully i sold the rally at that stage.

[Sunesis]

FTSE might be hitting bottoms soon.

 

https://pbs.twimg.co...Aqjvg.png:large

[K~~]

Do not always play out that way, also watches the Russell closely and got burned once where it corrected and the SP500 just kept climbing, when you have index trifurcation as you do now it mostly ends with a washout where all gets back insink...should have been on this site years back with your buy the dip and that would have turned out great and we all would have been millionaires!

 

 

You mean you're not a millionaire A? Or wait, you are a millionaire and the rest of us could have been? 

[Sunesis]

Do not always play out that way, also watches the Russell closely and got burned once where it corrected and the SP500 just kept climbing, when you have index trifurcation as you do now it mostly ends with a washout where all gets back insink...should have been on this site years back with your buy the dip and that would have turned out great and we all would have been millionaires!

 

Still think we are in for a bigger correction (bear market around the corner) than most people think...

 

A

I also have the same 1630 feeling on the S&P. 

[OceanWalz]

The price action since Friday is telling us something. Friday pm was a bit overcooked, we needed a 150 point drop to come in "line" with the other markets. So what happened this morning? A quick sell-off to 39 260 (Dec-13) and then sideways action for the rest of the day, with the Dow futures down the whole day (100-150 points). Look at the hourly graph. EIGHT candles testing 39 250/300 and rejection every time.

 

With the Telecoms/SAB (strike)/Resources all red we should've seen 38 500 already imho. If we get a US Tea party agreement, this market can give us a 700-1000 point green day very soon.

problem is that when they announce the resolution that green will appear so quick as to leave me with the filled up price on the T40 - if I had to put a buy in for say 39300 ( a bargain entry price after resolution ) for the spot then I will only cause a spike up and down (and a headache for me!)

[JJBen]

The price action since Friday is telling us something. Friday pm was a bit overcooked, we needed a 150 point drop to come in "line" with the other markets. So what happened this morning? A quick sell-off to 39 260 (Dec-13) and then sideways action for the rest of the day, with the Dow futures down the whole day (100-150 points). Look at the hourly graph. EIGHT candles testing 39 250/300 and rejection every time.

 

With the Telecoms/SAB (strike)/Resources all red we should've seen 38 500 already imho. If we get a US Tea party agreement, this market can give us a 700-1000 point green day very soon.

[Argento]

I support what you are saying. If you want a better index to help you with risk sentiment, use the Russell 2000. Its 2000 small cap companies in the US. It generally moves faster than the S&P or Dow. I use it as a leading indicator for risk sentiment. Because small caps are risker than S&P or Dow companies, if it going up then it means investor risk on sentiment is still high. Everytime the Russell 2000 moves up, the S&P follows. Most investors don't sell small cap companies often. They will only sell if there is a big problem on the stock market. For the past week the Russell 2000 has been going up. While S&P and other major indices have gone down. History shows than everytime the Rusell 2000 goes up S&P and other major indices tend to follow later.

 

I even have a long position on the Russell 2000, while my S&P and ALSI position where going down, my Russell 2000 just holds or goes up. It tells me that a short covering will be the name of the game when the market rallys.

Do not always play out that way, also watches the Russell closely and got burned once where it corrected and the SP500 just kept climbing, when you have index trifurcation as you do now it mostly ends with a washout where all gets back insink...should have been on this site years back with your buy the dip and that would have turned out great and we all would have been millionaires!

 

Still think we are in for a bigger correction (bear market around the corner) than most people think...

 

A

[OceanWalz]

I support what you are saying. If you want a better index to help you with risk sentiment, use the Russell 2000. Its 2000 small cap companies in the US. It generally moves faster than the S&P or Dow. I use it as a leading indicator for risk sentiment. Because small caps are risker than S&P or Dow companies, if it going up then it means investor risk on sentiment is still high. Everytime the Russell 2000 moves up, the S&P follows. Most investors don't sell small cap companies often. They will only sell if there is a big problem on the stock market. For the past week the Russell 2000 has been going up. While S&P and other major indices have gone down. History shows than everytime the Rusell 2000 goes up S&P and other major indices tend to follow later.

 

I even have a long position on the Russell 2000, while my S&P and ALSI position where going down, my Russell 2000 just holds or goes up. It tells me that a short covering will be the name of the game when the market rallys.

Thanks Sunesis, good advise - will keep load that as part of my daily watch. 

[Sunesis]

Prove that all dips are buys will make you rich in a bull market. The trend is your friend.

 

https://pbs.twimg.co...AtJER.png:large

[Sunesis]

seems Fridays closing was partly pricing in a Sunday night US resolution and now that did not happen and S&P500 Futures down to 1673 and IG on their formula for our T40 & futures also down. I am wary bec I feel same scenario is just going to repeat, not a crash but a good buying opportunity close to our Friday lows again being reached. going short there is too dangerous for me as a sudden positive announcement would hurt big very suddenly! so loose range playing is indicated - then someone says something reconciliatory and up we go then it is seen as manipulation and down we go. somewhere I feel it will end to a very well rewarded upside

 

Vix moved down - it  should go up a bit again as political brinkmanship there continues. I keep watching the S&P futures. after all it is how the other investors and traders perceive the risk of the outcome - most of the scary cats have already sold but even the steady hands wil keep a watch on their risk patiently waiting for the expected logical upside resolution , For me it seemingly totally ignoring other fragile info on the market that is so ripe for a pullback separate from this current 'government closure/ debt ceiling' spat. 

I support what you are saying. If you want a better index to help you with risk sentiment, use the Russell 2000. Its 2000 small cap companies in the US. It generally moves faster than the S&P or Dow. I use it as a leading indicator for risk sentiment. Because small caps are risker than S&P or Dow companies, if it going up then it means investor risk on sentiment is still high. Everytime the Russell 2000 moves up, the S&P follows. Most investors don't sell small cap companies often. They will only sell if there is a big problem on the stock market. For the past week the Russell 2000 has been going up. While S&P and other major indices have gone down. History shows than everytime the Rusell 2000 goes up S&P and other major indices tend to follow later.

 

I even have a long position on the Russell 2000, while my S&P and ALSI position where going down, my Russell 2000 just holds or goes up. It tells me that a short covering will be the name of the game when the market rallys.

[Sunesis]

What a beautiful week.

Bulls made money, Bears made money.

 

Hope we open with a dip next week, so we can Buy the Fu#cken Dip.

 

Cheers to dip buying.   Enjoy the weekend bulls and bears (not pigs)

 

 

For those who are able to buy and hold  buy. We got our dip today. Just make sure if you risk it, you can hold until 38500 if worst comes to worst.

 

Cheers BTFD

[Sunesis]

I bought VOD on Friday!   Been holding MTN; still showing a profit.  Luckily bought TKG earlier the week as well.  Already added to my MTN holding and will buy some more VOD soon. Little unsure whether to ad some more Telkom with this government of ours?

Any good stock that dips should be bought. If you believe that Vodacom is a good company then buy. If you think vodacom wont make anymore money, and will make a loss then sell.

Vodacom and MTN are good companies, just buy the dip. News fades overtime. The companies will still make a profit.

 

I bought SAB Miller, Discovery, MTN, Impala today.

 

Keep buying the dips

[BBW]

Anyone holding MTN and Vodacom shares on Friday? When did you try and exit the door after you heard what ICASA had to say?

I bought VOD on Friday!   Been holding MTN; still showing a profit.  Luckily bought TKG earlier the week as well.  Already added to my MTN holding and will buy some more VOD soon. Little unsure whether to ad some more Telkom with this government of ours?