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ES 1159
Yesterday was a gap and crap day, when you see that one should get the hell out or go short.
They will clean out the longs today and tomorrow they will clean out the shorts...
Next week will be a down week....
Will close my shorts today and short again Monday...
2bit
By looking at NDX, OIH and OEX, there is a very high probability that this is end of wave 4 and once again Bradley is right. At time of writing NADAQ futures down 13 fair value down 19...
good night
2bit
I got it, if CAT is coming down and PM is going up ...people are loosing jobs and smoking more...it must be recession again...
2bit
good Denmo, how 's your new job...or is it new anymore and still trading?
2bit
I am thinking of a gap down tomorrow...
2bit
everything as planned...
2bit
Hmm..I think the Nasdaq is it for this burn...
2bit
PPI 0.2 core 0.4, in normal times market would tank big time, but now Fed keeps rate low, oil will hit through the roof and inflation will continue to rise...
2bit
NDX,QQQ and OIH and IWM have already signal a pullback coming, a/d study also signals a pullback
2bit
I don't think OEX will close above 539. in my book it is a sell...
2bit
and the brokerage such as CME..down it goes
2bit
short Nasdaq
2bit
Hmmm...France/Germany proposed financial transaction tax...not good
2bit
OEX bounced from 535 support to 539 but still resistance..study on A/D says sell...tempting to buy but got my hand strapped to the chair..
2bit
it has not passed it yet...I am witholding all buying...
2bit
OEX has to close > 539 for the trend to continue...
2bit
On the other hand it could be a buying opp...
2bit
Ya, glad I day traded yesterday, didn't make much but at least I don't wake up to scramble to sell. I can understand now why most people lose money playing options. The whole day I was looking for a good bid and there were very little but at the end of the day when market surged, buyers came in to pay the highest price. They could have gone in earlier for a much better price, but they waited until everybody rushed to buy to pay a much higher price. Now they are stuck with a hot potato...never learn...Europe again...will see how far it falls, you're right this BS rampo may be done....will see...I was actually surprised to see the market rise by 200 points on a diaster Empire Manuf. data....may be it is time delay...housing starts today....
2bit
ok to be more clear use ema20 on 30min and it is approx 1192..
2bit
BT, whatever it is the 30min/60min ema20 cannot be violated, if so, the trend is changing.. therefore if pullback to the 20ema buy....this is the Tarzan trade, if anybody still remember...LOL
2bit
Tomorrow will retrace a bit...but it would be a buying opps...weekly has turned up ..there are two possible targets 550 by Aug 19 and 570 by Aug 29
2bit
My thoughts in the weekend, more EWs and they amazingly coincide with Lindsay' 3 Peaks and a Doomed house...let's see..
Aug 19 is now thought to be a turn date but it is turning down contrary to the diagram of Bradley...but Bradley model nver claims its direction is right...I have OEX 550 by Aug 19, then down to 491 by Oct 16 and perhaps 456 by Nov 21. The picture actually should show 460ish by Nov 21 rather than 491 of Oct16...just too lazy to change it....
We are in W4 inside of the sloping channel.
Sorry call me sick, I do not have a pretty picture going forward.
2bit
I went long this morning again, but just turned around for a few minutes and lost the opps...the gain I made was only good for a big Mac...I am taking a break...if Monday data is bad short, if good long....just don't think too much and get the hell out by the end of the day....
2bit
OEX needs to close above 535 before we can say the trend is changed to up...next week is OE week, normally first few days are negative and Monday we have Empire Manufacturing data...it might just chop around for a few days while they clean out the longs and as soon as they turn bearish the suckers will bring the market up for a rally to slaughter everybody then before you know it is Aug 20 the exact Bradley turn date...I can only day trade now...IMO
2bit
If the market falls from here it is only 38.2% retrace, we are still in a down trend...
2bit
Mike,
you are describing a whole lot of people, including me LOL
2bit
out of Calls again for a 30% gain....
this market is putting me on edge...day trading is the only way..and can't be greedy...
2bit
Studies on A/D issues just gave a buy signal..that is provided by eod it does not crash again...
2bit
This irrational exuberance...you can live without an IPAD but you can't live without oil....
2bit
This is typical of a bottoming process....one day up and the next down...
2bit
out of my Calls again ...tonight is CSCO earnings...just can't risk it...
2bit
A very early stage of bottom forming...
2bit
I always wanted to play RUT options. RUT is Russell 2000, the futures is deem as the most risk/rewards instrument ...OEX is second only to RUT.
2bit
Aug-20....it was early by 7 days on July 29 date, therefore, you will be looking at now-Friday as turning and rally till last week of August before it falls again...
2bit
at this rate! LOL by Friday...400 points a day!
But I am thinking Bradley turn date may be Friday, it may go back to 1250 min. Aug20-9 Aug12 is the turn date.....
2bit
out with Calls, 50% gain today...make up for previous losses...
2bit
I am thinking of SPX 1200 for a piss stop...
2bit
to trade on Fed day is harmful to your health...
2bit
The Fed has already hinted at that...they will do whatever is necessary down the road.....although QE2 did not really work for the economy but good for the bulls for they supported the market....
2bit
what more does the market want? the fed has already gurranteed exceptionally low interest rate for two years til 2013..go buy the stocks...folks...go rally...
2bit