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Nearly Naked (Simple Trades)

  • #3,681
  • Jun 15, 2010 4:25pm Jun 15, 2010 4:25pm
Quoting MarcVUM
I'm getting sleepy waiting for this bounce.
I think I'm going to scratch the bounce play and wait for 87 area.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #3,682
  • Jun 15, 2010 4:31pm Jun 15, 2010 4:31pm
Quoting MarcVUM
I think I'm going to scratch the bounce play and wait for 87 area.
Me too, I went to the gym and came back and it hasn't moved
  • #3,683
  • Jun 15, 2010 4:43pm Jun 15, 2010 4:43pm
Quoting Saxon
Me too, I went to the gym and came back and it hasn't moved
Have you got a TP in mind after taking a short up there? I'm thinking W R1 after looking at my charts.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #3,684
  • Jun 15, 2010 4:45pm Jun 15, 2010 4:45pm
Quoting MarcVUM
Have you got a TP in mind after taking a short up there? I'm thinking W R1 after looking at my charts.
25-30 pip SL with an open TP
  • #3,685
  • Jun 15, 2010 4:48pm Jun 15, 2010 4:48pm
Still keeping an eye on my UCHF targets
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  • #3,686
  • Jun 15, 2010 4:56pm Jun 15, 2010 4:56pm
We should see a nice move up.
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Annoying Precision
  • #3,687
  • Jun 15, 2010 5:36pm Jun 15, 2010 5:36pm
A/U...

I just took a quick short scalp on A/U so I am going to take a break and eat some dinner.

This is what I see though.
H4 - 21ema has crossed the 150ema and so the bear game is pretty much "game over" at this point. Once the 21 crosses the 200 or the 150 crosses the 200 we will be quite bullish... even more so than we have over the past few days.
H1 - We had 8 hours of a bullish move today. Slow and steady so we are taking a breather right now by piercing the 5 and 10 sma. I suspect it will retouch the yellow 21ema before continuing higher.
M15 - Those green ma's down there should provide the support needed to bounce/continue higher since the 150 is above the 200.

I suspect a move down to 8620 - 8630 although it's possible we go to Daily PP at 8607
Good Luck to all!
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #3,688
  • Jun 15, 2010 5:45pm Jun 15, 2010 5:45pm
The bull is alive and healthy. I think where gonna see some hard charging soon .
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Annoying Precision
  • #3,689
  • Jun 15, 2010 6:47pm Jun 15, 2010 6:47pm
Quoting MarcVUM
The darn S&P closed above the 200sma today. What are those boys thinking? Didn't they hear that the sky is falling!
Hi Marc, if you are looking at the June contract things look very bullish for the S&P but if you have switched to the sept contract then it looks to me like price put in a very tidy short term top today. I don't know how you work the contracts but I am looking at the sept prices now.
  • #3,690
  • Jun 15, 2010 6:52pm Jun 15, 2010 6:52pm
Quoting amyc
Hi Marc, if you are looking at the June contract things look very bullish for the S&P but if you have switched to the sept contract then it looks to me like price put in a very tidy short term top today. I don't know how you work the contracts but I am looking at the sept prices now.
Puts or calls? Buying or selling? It all depends on your TF and sentiment. If I'm buying something than I typically go out 3 or more months to give me time but I also sell something else at the same time. Although PA closed above the 200ma today I would still like to see a retest before I start selling puts on it.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #3,691
  • Jun 15, 2010 6:53pm Jun 15, 2010 6:53pm
Quoting MarcVUM
Puts or calls? Buying or selling? It all depends on your TF and sentiment. If I'm buying something than I typically go out 3 or more months to give me time but I also sell something else at the same time. Although PA closed above the 200ma today I would still like to see a retest before I start selling puts on it.

I am talking about futures contracts. This week is contract expiry for the S&P, the sept contract is trading lower therefore the charts don't have the bullish looking breakouts that the June charts do.
  • #3,692
  • Jun 15, 2010 6:55pm Jun 15, 2010 6:55pm
Quoting amyc
Puts or calls? Futures
Ohh on /ES?
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #3,693
  • Jun 15, 2010 6:55pm Jun 15, 2010 6:55pm
Quoting amyc
Hi Marc, if you are looking at the June contract things look very bullish for the S&P but if you have switched to the sept contract then it looks to me like price put in a very tidy short term top today. I don't know how you work the contracts but I am looking at the sept prices now.
It's bullish for now imo. It looks like a text book bearish bat,target is 1147, then violently south.

2nd chart is the older one
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  • #3,694
  • Jun 15, 2010 7:04pm Jun 15, 2010 7:04pm
Quoting shahab8b
It's bullish for now imo. It looks like a text book bearish bat,target is 1147, then violently south.

2nd chart is the older one
It depends on the timing but unless price gets to 1147 very soon and sells down a lot by the end of June then I would find it very hard to sell that level.

Unless price continues up and breaks Tuesdays highs then I think it may have found a short term top for this week and should now spend the rest of the week moving back into next weeks midpoints currently at 1087.

Then that only leaves it less than 8 trading days in June to move up to 1147 and back down under the July pp and Q3 pp if it is going to sell down in July. I will wait and see if it can do that before I think about selling it again.
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  • #3,695
  • Jun 15, 2010 7:05pm Jun 15, 2010 7:05pm
Quoting MarcVUM
A/U...

I just took a quick short scalp on A/U so I am going to take a break and eat some dinner.

This is what I see though.
H4 - 21ema has crossed the 150ema and so the bear game is pretty much "game over" at this point....
Good call!
  • #3,696
  • Jun 15, 2010 7:31pm Jun 15, 2010 7:31pm
Inserted Video
Annoying Precision
  • #3,697
  • Jun 15, 2010 8:02pm Jun 15, 2010 8:02pm
Quoting erikte279
http://www.youtube.com/watch?v=cf45I1ZI__w
Nice
  • #3,698
  • Jun 15, 2010 8:11pm Jun 15, 2010 8:11pm
I am long A/U. TP 8690.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #3,699
  • Jun 15, 2010 8:13pm Jun 15, 2010 8:13pm
That song is Epic

Quoting Saxon
Nice
Annoying Precision
  • #3,700
  • Jun 15, 2010 8:22pm Jun 15, 2010 8:22pm
Quoting MarcVUM
I am long A/U. TP 8690.
Short UCHF
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