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  • #1,741
  • Apr 1, 2008 10:00am Apr 1, 2008 10:00am
Quoting Küster
I'm short since 197, brother, but i'm hedged at 197.9.Completely lost...don't know what to do.
I am holding short at 200.64 with stops above 201.40 or so.
Targeting 199.69 on the downside.

I am throwing in the towel for the day and walking away.
I don't care what it does while I am gone, at least I won't have to watch
  • #1,742
  • Apr 1, 2008 10:02am Apr 1, 2008 10:02am
Quoting forexian
I second that! I have almost the same high 201.66 joining the descending TL from the big fall in November 2007 with the daily R2. Good place to short IMHO. I am already seeing some hesitation among the bulls while I am writing this
Nice! I too see the bulls getting some cold feet, things are looking good.
  • #1,743
  • Apr 1, 2008 10:12am Apr 1, 2008 10:12am
the blue trendlines are now in play, prolly consolidate between them for awhile. Just my guess.

cheers
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  • #1,744
  • Apr 1, 2008 10:17am Apr 1, 2008 10:17am
Quoting PipChick
Hey piptrain. I see the same and I think if 200.35 can give there is a potential 100 pip move there.That would put the price close to the top of the daily bull flag.
Happy to see you back Pipchick, and looking forward to your insight.
Good to see they reinstated you, we can learn a lot from you here.
  • #1,745
  • Apr 1, 2008 10:20am Apr 1, 2008 10:20am
I used to try and time shorts on HUGE bull run days and then--the light went off... go long on pullbacks and yours odds will increase and they did!


Quoting rrram2
I am holding short at 200.64 with stops above 201.40 or so.
Targeting 199.69 on the downside.

I am throwing in the towel for the day and walking away.
I don't care what it does while I am gone, at least I won't have to watch
Trade what you see - Not what you think
  • #1,746
  • Apr 1, 2008 10:26am Apr 1, 2008 10:26am
Hi everybody - enjoy the thread and am glad to meet fellow g/y traders. To my easily misled eye looks like it wants to break previous hourly high if it does should easily reach 201.70 - break above 202 could be meteroric rise to at least 203.50 possibly 205. My 2 cents worth...
Hope is not a trading strategy
  • #1,747
  • Apr 1, 2008 10:56am Apr 1, 2008 10:56am
Quoting cliffhanger
Hi everybody - enjoy the thread and am glad to meet fellow g/y traders. To my easily misled eye looks like it wants to break previous hourly high if it does should easily reach 201.70 - break above 202 could be meteroric rise to at least 203.50 possibly 205. My 2 cents worth...
I still think that a drop from 201.70 is favored, but if price breaks through this level then its bulls all the way and I will jump on for the ride!
  • #1,748
  • Apr 1, 2008 11:19am Apr 1, 2008 11:19am
Do you treat breakouts that occur because of news any different than those without news?

Like today's open range breakout.
  • #1,749
  • Apr 1, 2008 11:20am Apr 1, 2008 11:20am
I sadly could not take advantage as was busy this morning with other things.

The markets are up on what ? UBS and Lehman issuing new stock on the markets to raise funds. Last time I looked this not look good for companies as it means they are in a liquidity sqeeze.The easiest way to make more money is issue more stock , although it does push down the value of the current stocks price. Lehman is the next Bear Stearns waiting to happen.

I smell BS......

I am not chasing here and will either wait for a correction . or wait until tomorrow

Sometime it is better to do nothing and wait for the trade if you missed a good run like this.
Blogging daily now at www.volume.zone
  • #1,750
  • Apr 1, 2008 11:21am Apr 1, 2008 11:21am
lol
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  • #1,751
  • Apr 1, 2008 11:23am Apr 1, 2008 11:23am
Quoting malcolmb14
I sadly could not take advantage as was busy this morning with other things.

The markets are up on what ? UBS and Lehman issuing new stock on the markets to raise funds. Last time I looked this not look good for companies as it means they are in a liquidity sqeeze.The easiest way to make more money is issue more stock , although it does push down the value of the current stocks price. Lehman is the next Bear Stearns waiting to happen.

I smell BS......

I am not chasing here and will either wait for a correction . or wait until tomorrow

Sometime it is better to do nothing and wait for the trade if you missed a good run like this.
I agree and am waiting on the sides for the next opportunity.
Patience + Discipline - Greed = Success
  • #1,752
  • Apr 1, 2008 11:24am Apr 1, 2008 11:24am
Quoting cotoho
Do you treat breakouts that occur because of news any different than those without news?
The only thing you have to do with news breakouts is do not trade them for 30 minutes after the news. I have seen gj rip up 100 pips and then drop 300
Blogging daily now at www.volume.zone
  • #1,753
  • Apr 1, 2008 11:29am Apr 1, 2008 11:29am
201.7 is appearing to be a very powerful resistance.
  • #1,754
  • Apr 1, 2008 11:33am Apr 1, 2008 11:33am
pleased to see Im not the only one, waiting for my 300 pips

Quoting malcolmb14
The only thing you have to do with news breakouts is do not trade them for 30 minutes after the news. I have seen gj rip up 100 pips and then drop 300
Quoting naatha
lol
Max pain baby !!

Inserted Video
  • #1,755
  • Apr 1, 2008 11:37am Apr 1, 2008 11:37am
"This is a nice way to begin the second quarter," said Todd Leone, managing director of equity trading at Cowen & Co. "All the financials are up big, and there's a sense that things are turning. We definite have not seen the last of the credit crisis, but we're getting closer

I want some of what he is smoking ....lol
Blogging daily now at www.volume.zone
  • #1,756
  • Apr 1, 2008 11:40am Apr 1, 2008 11:40am
Quoting malcolmb14
"This is a nice way to begin the second quarter," said Todd Leone, managing director of equity trading at Cowen & Co. "All the financials are up big, and there's a sense that things are turning. We definite have not seen the last of the credit crisis, but we're getting closer

I want some of what he is smoking ....lol
That's some strong stuff...

So...do you think 201.7 will hold the price down?
  • #1,757
  • Edited Apr 2, 2008 11:41am Apr 1, 2008 11:43am | Edited Apr 2, 2008 11:41am
Quote: Originally Posted by WhipSawFX
Max pain baby !!

Nice price action
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  • #1,758
  • Apr 1, 2008 11:46am Apr 1, 2008 11:46am
Quoting malcolmb14
I sadly could not take advantage as was busy this morning with other things.

The markets are up on what ? UBS and Lehman issuing new stock on the markets to raise funds. Last time I looked this not look good for companies as it means they are in a liquidity sqeeze.The easiest way to make more money is issue more stock , although it does push down the value of the current stocks price. Lehman is the next Bear Stearns waiting to happen.

I smell BS......

I am not chasing here and will either wait for a correction . or wait until tomorrow

Sometime it is better to do nothing and wait for the trade if you missed a good run like this.
I hear on MSNBC that UBS is not allowing any short selling since the bad news. It is only a matter of time. The housing market still stinks and the ARM's continue to put people in forclosure. Banks are not loaning money. P&I insurance is now required on all loans < 80%. of value.
  • #1,759
  • Apr 1, 2008 11:55am Apr 1, 2008 11:55am
Quoting naatha
Quote: Originally Posted by WhipSawFX
Max pain baby !!

jeez where did u get that man ? they put my up online too ? its funny

goodbadmas
  • #1,760
  • Apr 1, 2008 12:03pm Apr 1, 2008 12:03pm
I just finished some and I ain't buying into it~

Quoting malcolmb14
"This is a nice way to begin the second quarter," said Todd Leone, managing director of equity trading at Cowen & Co. "All the financials are up big, and there's a sense that things are turning. We definite have not seen the last of the credit crisis, but we're getting closer

I want some of what he is smoking ....lol
Trade what you see - Not what you think
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