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  • #357,961
  • Jan 4, 2011 11:11am Jan 4, 2011 11:11am
So, today a half of my account was given to the market on that down trend.
So, I hope to restore on the movement up. Perhaps, during the Asian session it will be retraced.
What do you think?
  • #357,962
  • Jan 4, 2011 11:11am Jan 4, 2011 11:11am
Quoting Piters
posted 37h ago, but also today..

for all DOW THEORY [skype dow theory] fans.. monthly chart of S&P500
and current short trade ;

[Monthly Chart] & [S&P500 1H]
piters

you may want to check the VIX inverse to the S&P, when the VIX is low its gonna blow
  • #357,963
  • Jan 4, 2011 11:12am Jan 4, 2011 11:12am
Quoting PayTheLimit
short 3307, sl 3323, tp 3277
sl 3317, tp 3282, now..
Look Sharp/Trade Tight
  • #357,964
  • Jan 4, 2011 11:12am Jan 4, 2011 11:12am
Quoting T@rantula
Major intraday trendline around 3275 and a possible ascending wide flat bottom triangle between 3250-3275.

Nice trading opportunity for either a break below or another long. 3275 should be defended.
Agree. 3275 should cap this move until Asia at least. I think Asia might have a go at it though.
  • #357,965
  • Jan 4, 2011 11:13am Jan 4, 2011 11:13am
Quoting PriceVolume
Within the realm of possibility, especially if we get a shocker news-wise. But for right now I still think we dick around before a significant ride lower...
mpp... can be bad ass.. if it gets some distance with a close below. i doubt its a bs move. i guess ping pong is the game.
those who can, do. those who cant, talk about those who can
  • #357,966
  • Jan 4, 2011 11:14am Jan 4, 2011 11:14am
I've got a fundamental note favoring risk off trade.

This is a bit old, but hasn't caught much press. SecDef Gates announced $100 Billion in defense cuts yesterday. I didn't see anything about it until this morning. http://www.huffingtonpost.com/2011/0..._n_804011.html

I haven't dug through the details yet but expect defense contractors to take a huge hit.

As a speculative guess, I'd expect the US to drawdown in Afghanistan. Leave only snake eaters (special ops forces), drones, and fighter aircraft. Shift mission to simply killing all terrorists rather than trying to win the hearts & minds of the Afghanis (lost cause anyway).

As for the deficit ceiling, currently at $14.3 Trillion, I expect it to be raised to $15 Trillion. But Republicans will demand, and receive, huge government cutbacks in return for increasing the deficit.

I would consider everything above to be dollar bullish but this is stuff that doesn't show up on charts.
  • #357,967
  • Jan 4, 2011 11:14am Jan 4, 2011 11:14am
Quoting rome777
So, today a half of my account was given to the market on that down trend.
So, I hope to restore on the movement up. Perhaps, during the Asian session it will be retraced.
What do you think?

Until Asia starts nobody knows really. Keep an eye on the FOMC minutes for anyting new and untoward, then ignore the Asia fake and trade the pivots once the fake has played out. Asia is fairly easy to trade IF you understand pivots and ignore the fakeout. The problem with Asia is that is can be very slow and at times so dead that it will fake you out if you are not used to it.
  • #357,968
  • Jan 4, 2011 11:14am Jan 4, 2011 11:14am
Quoting rome777
So, today a half of my account was given to the market on that down trend.
So, I hope to restore on the movement up. Perhaps, during the Asian session it will be retraced.
What do you think?
normally it does. if i were you, i would spend my time to look for a tradable set up instead of taking trades right now. but in the end, it's your money, it's your acc. just my 2c.
  • #357,969
  • Jan 4, 2011 11:15am Jan 4, 2011 11:15am
Quoting PayTheLimit
true, little bored here, took a small flyer...key work small, its a one lot
if your in for a few days...sessions ending doesnt matter. You guys act like there is zero movement and as if U.S. isnt open.

ive been in trades since sunday...locked in some gains, cut few losses.
  • #357,970
  • Jan 4, 2011 11:15am Jan 4, 2011 11:15am
Quoting PayTheLimit
sl 3317, tp 3282, now..
out 3314, -7
Look Sharp/Trade Tight
  • #357,971
  • Jan 4, 2011 11:17am Jan 4, 2011 11:17am
Quoting liquidtrada
if your in for a few days...sessions ending doesnt matter. You guys act like there is zero movement and as if U.S. isnt open.

ive been in trades since sunday...locked in some gains, cut few losses.

All depends on the kind of trader you are, as a day trader London is the bread and butter.
  • #357,972
  • Jan 4, 2011 11:17am Jan 4, 2011 11:17am
Quoting PayTheLimit
out 3314, -7

Why are some of us not surprised
  • #357,973
  • Jan 4, 2011 11:17am Jan 4, 2011 11:17am
I just took a stab at the lows, plus a little slippage, thats all, not a big deal really...
Look Sharp/Trade Tight
  • #357,974
  • Jan 4, 2011 11:18am Jan 4, 2011 11:18am
Quoting rome777
So, today a half of my account was given to the market on that down trend.
So, I hope to restore on the movement up. Perhaps, during the Asian session it will be retraced.
What do you think?
I think you're waaaaaaaay overleveraged. You need to stop trading live and go back to the basics, such as money management. Do yourself a favor - step back and take the time to come up with a plan.
  • #357,975
  • Jan 4, 2011 11:19am Jan 4, 2011 11:19am
Quoting liquidtrada
if your in for a few days...sessions ending doesnt matter. You guys act like there is zero movement and as if U.S. isnt open.

ive been in trades since sunday...locked in some gains, cut few losses.
good for you. keep it up.
  • #357,976
  • Jan 4, 2011 11:19am Jan 4, 2011 11:19am
Quoting cloggie
Why are some of us not surprised
its called a loss, its also called a one lot....

hell, I might even have a few more this week
Look Sharp/Trade Tight
  • #357,977
  • Jan 4, 2011 11:19am Jan 4, 2011 11:19am
long @ 1.33182
  • #357,978
  • Jan 4, 2011 11:20am Jan 4, 2011 11:20am
Quoting onewish
piters

you may want to check the VIX inverse to the S&P, when the VIX is low its gonna blow
thnks..
not using VIX, but'll check..
  • #357,979
  • Jan 4, 2011 11:21am Jan 4, 2011 11:21am
Quoting Piters
thnks..
not using VIX, but'll check..

VIX is a good one to keep an eye on when trading indices, it is one of those self fullfilling prophecies as loads of ETF traders keep an eye on it.
  • #357,980
  • Jan 4, 2011 11:21am Jan 4, 2011 11:21am
Quoting redsword11
long @ 1.33182
Hey Red mate...Nice to see u again. I will check your thread tommorow
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