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  • #3,181
  • Dec 4, 2013 1:22pm Dec 4, 2013 1:22pm
Quoting rehab
{quote} I was just about to write you this : Secretary: bulls are doing bad.



Seriously this market is treacherous at the moment swinging here and there in huge moves. We should all remember this and I know it is basic trader info but I say it to myself a lot. We can go long, go short or stay out. Three possible actions.
If you think you can or cannot do it you are correct
  • #3,182
  • Dec 4, 2013 1:25pm Dec 4, 2013 1:25pm
Quoting Boy Wonder
Bearish engulfing on USDJPY today. That signals the uptrend (this particular leg from the 200DMA) is either over or close to it IMO. That doesn't mean it can't go higher than today's high. But it does suggest it won't, and even if it does, it's likely to be a final squeeze before a decent correction to this leg up from the 200DMA. We have no idea of knowing how deep that correction goes, 50%, 38%, 62% etc, and whether we get another leg up thereafter e.g. to the much trumpeted 105 area. But between now and next April, I'd expect that 200DMA to be...

BW
Check out the usdjpy today. That call is worth an applause

Olu
If you think you can or cannot do it you are correct
  • #3,183
  • Dec 4, 2013 1:26pm Dec 4, 2013 1:26pm
I dont trade the Nikkei but it should dump tonight because of the stronger jpy

Olu
If you think you can or cannot do it you are correct
  • #3,184
  • Dec 4, 2013 1:27pm Dec 4, 2013 1:27pm
Quoting Olu
Srt We need to push this coffee up past that red line... olu {image}

Coffee Update:

Traded above 112 resistance but sold off hard. Still above support but today's action pretty ugly for any bulls.
Attached Image (click to enlarge)
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  • #3,185
  • Dec 4, 2013 1:31pm Dec 4, 2013 1:31pm
Quoting srt
{quote} Coffee Update: Traded above 112 resistance but sold off hard. Still above support but today's action pretty ugly for any bulls. {image}
The Robusta coffee chart is even more bullish that the Standard coffee. BTW I got out of my sugar short too early. You remember when we were talking about some retracement off support. I closed out then but the tretacement never came.

Olu
If you think you can or cannot do it you are correct
  • #3,186
  • Dec 4, 2013 1:34pm Dec 4, 2013 1:34pm
Quoting srt
{quote} Coffee Update: Traded above 112 resistance but sold off hard. Still above support but today's action pretty ugly for any bulls. {image}

Srt

If coffee closes below 106 there may be trouble ahead
If you think you can or cannot do it you are correct
  • #3,187
  • Dec 4, 2013 1:41pm Dec 4, 2013 1:41pm
Quoting Olu
{quote} Seriously this market is treacherous at the moment swinging here and there in huge moves. We should all remember this and I know it is basic trader info but I say it to myself a lot. We can go long, go short or stay out. Three possible actions.

i am going to have a glass of wine and then sleep...canīt more. BW: lucky that you are practicingPiano, that sounds cool!
  • #3,188
  • Dec 4, 2013 1:43pm Dec 4, 2013 1:43pm
Quoting rehab
{quote} i am going to have a glass of wine and then sleep...canīt more. BW: lucky that you are practicingPiano, that sounds cool!

One feels like a whole bottle but a glass will do...
If you think you can or cannot do it you are correct
  • #3,189
  • Dec 4, 2013 2:42pm Dec 4, 2013 2:42pm
Silver
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If you think you can or cannot do it you are correct
  • #3,190
  • Dec 4, 2013 3:58pm Dec 4, 2013 3:58pm
Quoting Olu
{quote} BW Check out the usdjpy today. That call is worth an applause Olu
You're too kind Sir!
It's still a tough one is USDJPY, but as a lonely and no doubt foolish bear I prefer to sell but cover my backside a bit with short puts...which can work, or not... There's probably going to be some violent whipsawing to come, I think, as it whips up and down...it's come a long way since it last traded at the 200DMA and I guess it'll want to consolidate that in some way over the coming weeks. That volatility might be good or not; maybe smaller positions with wider stops to take advantage are something to consider.
I do think 105 is possible, many things are possible, but it's impossible to know when. And I still think 96 is possible.
I see EURUSD is up near 1.36...so close really does make me think they're gonna take this up tomorrow, bust some stops (and maybe some accounts). I'd really rather they didn't, but I'm steeling myself. I guess I just won't be looking.
I have no clue what I'm talking about.
  • #3,191
  • Dec 4, 2013 4:07pm Dec 4, 2013 4:07pm
Quoting rehab
{quote} i am going to have a glass of wine and then sleep...canīt more. BW: lucky that you are practicingPiano, that sounds cool!
It's hard work for an old git like me rehab, but worth it I want to produce EDM, write songs etc....and the best way, is to learn the piano. I'd recommend it to anyone, it's a beautiful instrument, like the guitar...but the guitar...I couldn't take the pain!
I have no clue what I'm talking about.
  • #3,192
  • Dec 4, 2013 4:12pm Dec 4, 2013 4:12pm
By the way guys, keep an eye on IWM. Looks like some shorts are trapped here. Consistently bouncing at the trendline...and there's plenty of room to bounce between here and the recent high. Even a 50% could give us some nice money on the upside. I just closed my ES short, leaving me with a naked short put, currently underwater, which I'll roll if necessary. A move below today's low would send me seriously loud alarm bells that that there is a more substantial move down coming.
I may sell another put if we get some downside tomorrow. But really, I'm too greedy, I should just leave my account well alone. Then again, maybe I could sell IWM puts....for a bit of pocket money for the weekend

IWM:
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I have no clue what I'm talking about.
  • #3,193
  • Dec 4, 2013 4:48pm Dec 4, 2013 4:48pm
Quoting Boy Wonder
{quote} It's hard work for an old git like me rehab, but worth it I want to produce EDM, write songs etc....and the best way, is to learn the piano. I'd recommend it to anyone, it's a beautiful instrument, like the guitar...but the guitar...I couldn't take the pain!

I am learning to play the guitar. At the moment the 'F' chord is giving me a hard time...

Olu
If you think you can or cannot do it you are correct
  • #3,194
  • Dec 4, 2013 5:35pm Dec 4, 2013 5:35pm
Quoting Olu
{quote} I look for reversal candles etc around that area Olu
Since we are on daily tine frame do you wait for reversal on daily close or on lower time frame?
  • #3,195
  • Dec 4, 2013 6:02pm Dec 4, 2013 6:02pm
Quoting trexy123
{quote} Since we are on daily tine frame do you wait for reversal on daily close or on lower time frame?
It depends. If a very small doji forms on the daily charts when it hit the area I will use that candle but I tend to go down to the 4hr. No less that 1H for an entry.

Olu
If you think you can or cannot do it you are correct
  • #3,196
  • Dec 4, 2013 6:03pm Dec 4, 2013 6:03pm
Robusta Coffee
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If you think you can or cannot do it you are correct
  • #3,197
  • Dec 4, 2013 6:15pm Dec 4, 2013 6:15pm
Quoting Olu
{quote} I am learning to play the guitar. At the moment the 'F' chord is giving me a hard time... Olu
The guitar is a tough instrument to learn. All those chord shapes to memorise.
Plus, it hurts like hell. You can build up calluses , but if you stop practising, they heal and disappear. Then you've got to go through that pain again.
I have no clue what I'm talking about.
  • #3,198
  • Dec 4, 2013 6:17pm Dec 4, 2013 6:17pm
Possible HnS on the 10 year notes targets 124.
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I have no clue what I'm talking about.
  • #3,199
  • Dec 4, 2013 6:24pm Dec 4, 2013 6:24pm
Quoting Boy Wonder
{quote} The guitar is a tough instrument to learn. All those chord shapes to memorise. Plus, it hurts like hell. You can build up calluses , but if you stop practising, they heal and disappear. Then you've got to go through that pain again.

I stopped and started 3 times so I know what you mean. This time I am determined to be good at it pronto

Olu
If you think you can or cannot do it you are correct
  • #3,200
  • Dec 4, 2013 6:38pm Dec 4, 2013 6:38pm
Quoting Boy Wonder
Possible HnS on the 10 year notes targets 124. {image}
Hi BW

I follow the TLT etf and a while back I posted a chart saying we are going to new lows. Glad to see/read corroborating opinions

Olu
If you think you can or cannot do it you are correct
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